# EDGAR Filing Document

**Accession Number:** 0000729528
**File Stem:** 0001193125-25-293573
**Filing Date:** 2025-11
**Character Count:** 1556975
**Document Hash:** 42120389b6bb73268a9a0a5eac9e724f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-293573.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0001193125-25-293573

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN FUNDS INSURANCE SERIES
- **CENTRAL INDEX KEY:** 0000729528

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03857
- **FILM NUMBER:** 251512592

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN FUND INSURANCE SERIES
- **DATE OF NAME CHANGE:** 20010829

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN VARIABLE INSURANCE SERIES
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN PATHWAY FUND
- **DATE OF NAME CHANGE:** 19880531

## Series and Classes Contracts Data

### U.S. Government Securities Fund (Series ID: S000008788)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023908 | Class 1      |  |
| C000023909 | Class 2      |  |
| C000023910 | Class 3      |  |
| C000121504 | Class 4      |  |
| C000176236 | Class 1A     |  |

## Nport-Ex

![](imgf8bb8a501.jpg)

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

**American Funds Insurance Series**<sup>®</sup>

**Global Growth Fund**

Investment portfolio

September 30, 2025

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks 96.24%<br> **Information technology 27.06%**<br>| Shares | Value<br> (000)<br>|
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 10705200 | $458373 |
| Microsoft Corp.  | 769664 | 398648 |
| Broadcom, Inc.  | 1058323 | 349151 |
| NVIDIA Corp.  | 1437636 | 268234 |
| ASML Holding NV (ADR)  | 128874 | 124761 |
| ASML Holding NV  | 105955 | 103013 |
| NEC Corp.  | 2967871 | 95106 |
| Micron Technology, Inc.  | 433659 | 72560 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 336935 | 72303 |
| Samsung Electronics Co., Ltd.  | 1068680 | 63905 |
| AppLovin Corp., Class A <sup>(a)</sup>  | 85473 | 61416 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 278761 | 41427 |
| International Business Machines Corp.  | 131299 | 37047 |
| Ubiquiti, Inc.  | 51660 | 34126 |
| SAP SE  | 122929 | 32892 |
| Intel Corp. <sup>(a)</sup>  | 902119 | 30266 |
| Salesforce, Inc.  | 126566 | 29996 |
| Oracle Corp.  | 102383 | 28794 |
| Apple, Inc.  | 107144 | 27282 |
| Capgemini SE  | 176911 | 25662 |
| Synopsys, Inc. <sup>(a)</sup>  | 48065 | 23715 |
| Nemetschek SE  | 140877 | 18326 |
| Check Point Software Technologies Ltd. <sup>(a)</sup>  | 79736 | 16498 |
| EPAM Systems, Inc. <sup>(a)</sup>  | 60723 | 9156 |
|  |  | 2422657 |
| **Industrials 16.78%** |  |  |
| Airbus SE, non-registered shares  | 640525 | 148446 |
| Comfort Systems USA, Inc.  | 154869 | 127795 |
| Safran SA  | 327660 | 115445 |
| Siemens AG  | 330684 | 88984 |
| General Aerospace Co.  | 268357 | 80727 |
| Boeing Co. (The) <sup>(a)</sup>  | 372821 | 80466 |
| Saab AB, Class B  | 1217750 | 74311 |
| Ryanair Holdings PLC (ADR)  | 1180370 | 71082 |
| BAE Systems PLC  | 2424921 | 67150 |
| GT Capital Holdings, Inc.  | 5411899 | 53515 |
| TransDigm Group, Inc.  | 38430 | 50652 |
| Howmet Aerospace, Inc.  | 212197 | 41639 |
| Core & Main, Inc., Class A <sup>(a)</sup>  | 740933 | 39884 |
| Copart, Inc. <sup>(a)</sup>  | 878862 | 39522 |
| ATI, Inc. <sup>(a)</sup>  | 476446 | 38754 |
| ASSA ABLOY AB, Class B  | 1034590 | 35892 |
| Crane Co.  | 178460 | 32862 |
| RS Group PLC  | 4265517 | 32613 |
| Hanwha Aerospace Co., Ltd.  | 40475 | 31935 |
| DSV A/S  | 153094 | 30448 |

---

American Funds Insurance Series — Page 1 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Industrials (continued)**<br>| Shares | Value<br> (000)<br>|
| Hitachi, Ltd.  | 1115800 | $29652 |
| Compagnie de Saint-Gobain SA, non-registered shares  | 270675 | 29128 |
| The Toro Co.  | 373724 | 28478 |
| PACCAR, Inc.  | 286995 | 28217 |
| Alliance Global Group, Inc.  | 156400700 | 20423 |
| Deere & Co.  | 39278 | 17960 |
| FTAI Aviation, Ltd.  | 102740 | 17143 |
| Mitsui & Co., Ltd.  | 676500 | 16834 |
| GE Vernova, Inc.  | 24758 | 15224 |
| Daikin Industries, Ltd.  | 76900 | 8882 |
| Ingersoll-Rand, Inc.  | 96000 | 7932 |
| Honeywell International, Inc.  | 1035 | 218 |
|  |  | 1502213 |
| **Consumer discretionary 15.48%** |  |  |
| Prosus NV, Class N  | 1846586 | 129949 |
| MercadoLibre, Inc. <sup>(a)</sup>  | 40426 | 94473 |
| Renault SA  | 1688781 | 68998 |
| Trip.com Group, Ltd. (ADR)  | 861800 | 64807 |
| Booking Holdings, Inc.  | 11574 | 62491 |
| Starbucks Corp.  | 729678 | 61731 |
| MGM China Holdings, Ltd.  | 28793200 | 61531 |
| Inchcape PLC  | 6234573 | 58065 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 1459337 | 57191 |
| Amazon.com, Inc. <sup>(a)</sup>  | 239344 | 52553 |
| Compagnie Financiere Richemont SA, Class A  | 255613 | 48679 |
| Alibaba Group Holding, Ltd. (ADR)  | 268854 | 48052 |
| Sanrio Co., Ltd. <sup>(b)</sup>  | 912300 | 42881 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 64729 | 39556 |
| Entain PLC  | 3341847 | 39273 |
| Hyundai Motor Co.  | 254391 | 38982 |
| Restaurant Brands International, Inc. (CAD denominated)  | 607375 | 38964 |
| Ferrari NV (EUR denominated)  | 76323 | 36882 |
| InterContinental Hotels Group PLC  | 299249 | 36117 |
| Urban Outfitters, Inc. <sup>(a)</sup>  | 455688 | 32550 |
| LKQ Corp.  | 1041420 | 31805 |
| General Motors Co.  | 519771 | 31690 |
| Hermes International  | 12384 | 30286 |
| D.R. Horton, Inc.  | 173953 | 29480 |
| Tesla, Inc. <sup>(a)</sup>  | 66138 | 29413 |
| Industria de Diseno Textil SA  | 501952 | 27680 |
| Toll Brothers, Inc.  | 167692 | 23165 |
| Carvana Co., Class A <sup>(a)</sup>  | 54306 | 20486 |
| Wynn Macau, Ltd.  | 21430000 | 19883 |
| O'Reilly Automotive, Inc. <sup>(a)</sup>  | 134120 | 14460 |
| YUM! Brands, Inc.  | 94493 | 14363 |
|  |  | 1386436 |
| **Financials 13.63%** |  |  |
| Citigroup, Inc.  | 1215819 | 123406 |
| Fiserv, Inc. <sup>(a)</sup>  | 897331 | 115693 |
| Banco Bilbao Vizcaya Argentaria SA  | 5583293 | 107110 |
| 3i Group PLC  | 1741223 | 95755 |
| Aon PLC, Class A  | 244466 | 87172 |
| Brookfield Corp., Class A  | 1250068 | 85730 |

---

American Funds Insurance Series — Page 2 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials (continued)**<br>| Shares | Value<br> (000)<br>|
| Visa, Inc., Class A  | 237305 | $81011 |
| Prudential PLC  | 5215411 | 73018 |
| Societe Generale  | 809341 | 53554 |
| Ameriprise Financial, Inc.  | 104697 | 51432 |
| Aviva PLC  | 4545916 | 41928 |
| Halyk Savings Bank of Kazakhstan OJSC (GDR)  | 1445830 | 36363 |
| Coinbase Global, Inc., Class A <sup>(a)</sup>  | 97796 | 33005 |
| Japan Post Insurance Co., Ltd.  | 1156950 | 32803 |
| CME Group, Inc., Class A  | 103473 | 27957 |
| UniCredit SpA  | 359971 | 27246 |
| Allianz SE  | 58078 | 24370 |
| AXA SA  | 433077 | 20664 |
| Swissquote Group Holding, Ltd.  | 26628 | 18581 |
| CaixaBank SA, non-registered shares  | 1557890 | 16363 |
| HSBC Holdings PLC (GBP denominated)  | 1163368 | 16350 |
| HDFC Bank, Ltd.  | 1328758 | 14232 |
| Blackstone, Inc.  | 81283 | 13887 |
| Eurobank Ergasias Services and Holdings SA  | 3558529 | 13712 |
| CVC Capital Partners PLC  | 542527 | 9440 |
|  |  | 1220782 |
| **Health care 7.43%** |  |  |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 213771 | 83721 |
| UnitedHealth Group, Inc.  | 179184 | 61872 |
| Argenx SE (ADR) <sup>(a)</sup>  | 80747 | 59556 |
| Thermo Fisher Scientific, Inc.  | 103186 | 50047 |
| AstraZeneca PLC  | 194247 | 29212 |
| AstraZeneca PLC (ADR)  | 241523 | 18530 |
| Regeneron Pharmaceuticals, Inc.  | 83600 | 47006 |
| EssilorLuxottica SA  | 144508 | 46826 |
| Cigna Group (The)  | 132736 | 38261 |
| Pfizer, Inc.  | 1418993 | 36156 |
| Sanofi  | 378504 | 34906 |
| Eli Lilly and Co.  | 43922 | 33513 |
| Haleon PLC  | 6192098 | 27681 |
| Pro Medicus, Ltd.  | 115122 | 23484 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 50179 | 22882 |
| Centene Corp. <sup>(a)</sup>  | 580852 | 20725 |
| Bayer AG  | 537074 | 17801 |
| Novo Nordisk AS, Class B  | 237847 | 12893 |
|  |  | 665072 |
| **Communication services 5.75%** |  |  |
| Meta Platforms, Inc., Class A  | 213121 | 156512 |
| Spotify Technology SA <sup>(a)</sup>  | 113423 | 79169 |
| Alphabet, Inc., Class A  | 269199 | 65442 |
| Publicis Groupe SA  | 549935 | 52737 |
| Netflix, Inc. <sup>(a)</sup>  | 41934 | 50275 |
| Nintendo Co., Ltd.  | 566253 | 49030 |
| Bharti Airtel, Ltd.  | 2029589 | 42938 |
| Tencent Holdings, Ltd.  | 213900 | 18224 |
|  |  | 514327 |

---

American Funds Insurance Series — Page 3 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Consumer staples 3.62%**<br>| Shares | Value<br> (000)<br>|
| Costco Wholesale Corp.  | 75693 | $70064 |
| Nestle SA  | 695583 | 63848 |
| Pernod Ricard SA  | 489386 | 47999 |
| Dollar General Corp.  | 408173 | 42185 |
| Carrefour SA, non-registered shares  | 2201230 | 33325 |
| Coca-Cola HBC AG (CDI) <sup>(a)</sup>  | 445087 | 20975 |
| Philip Morris International, Inc.  | 121081 | 19639 |
| Monster Beverage Corp. <sup>(a)</sup>  | 239297 | 16107 |
| Loblaw Cos., Ltd.  | 267760 | 10357 |
|  |  | 324499 |
| **Materials 2.95%** |  |  |
| Linde PLC  | 165188 | 78464 |
| Lynas Rare Earths, Ltd. <sup>(a)</sup>  | 5358289 | 59601 |
| Amcor PLC (CDI)  | 3567000 | 29008 |
| Sherwin-Williams Co.  | 81338 | 28164 |
| Agnico Eagle Mines, Ltd.  | 149601 | 25197 |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 802920 | 18162 |
| Syensqo SA  | 168919 | 13625 |
| LyondellBasell Industries NV  | 250227 | 12271 |
|  |  | 264492 |
| **Energy 1.60%** |  |  |
| NAC Kazatomprom JSC (GDR)  | 1010678 | 53869 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 1066948 | 34116 |
| Tourmaline Oil Corp. <sup>(b)</sup>  | 612792 | 26428 |
| Reliance Industries, Ltd.  | 789344 | 12126 |
| Schlumberger NV  | 286688 | 9853 |
| TotalEnergies SE  | 112486 | 6832 |
|  |  | 143224 |
| **Real estate 1.31%** |  |  |
| Mirvac Group REIT  | 25439540 | 38212 |
| Simon Property Group, Inc. REIT  | 168674 | 31655 |
| Sun Hung Kai Properties, Ltd.  | 2378500 | 28486 |
| Dexus REIT  | 3935855 | 18699 |
|  |  | 117052 |
| **Utilities 0.63%** |  |  |
| Oklo, Inc., Class A <sup>(a)(b)</sup>  | 258331 | 28837 |
| Veolia Environnement SA  | 429985 | 14630 |
| FirstEnergy Corp.  | 286296 | 13118 |
|  |  | 56585 |
| **Total common stocks** (cost: $5,495,510,000) |  | 8617339 |
| Preferred securities 0.24%<br> **Information technology 0.24%**<br>|  |  |
| Samsung Electronics Co., Ltd., nonvoting preferred shares  | 460450 | 21791 |
| **Total preferred securities** (cost: $12,816,000) |  | 21791 |

---

American Funds Insurance Series — Page 4 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Short-term securities 3.93%<br> **Money market investments 3.57%**<br>| Shares | Value<br> (000)<br>|
| Capital Group Central Cash Fund 4.17% <sup>(c)(d)</sup>  | 3196680 | $319668 |
| **Money market investments purchased with collateral from securities on loan 0.36%** |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(c)(e)</sup>  | 31824298 | 31824 |
| **Total short-term securities** (cost: $351,521,000) |  | 351492 |
| **Total investment securities 100.41%** (cost: $5,859,847,000) |  | 8990622 |
| **Other assets less liabilities (0.41)%** |  | (36672)<br>|
| **Net assets 100.00%** |  | $8953950 |

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 3.57%** | **Short-term securities 3.57%** | **Short-term securities 3.57%** | **Short-term securities 3.57%** | **Short-term securities 3.57%** | **Short-term securities 3.57%** | **Short-term securities 3.57%** | **Short-term securities 3.57%** |
| **Money market investments 3.57%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(c)</sup> <br>| $283574 | &nbsp;&nbsp; $1496581 | &nbsp;&nbsp; $1460350 | &nbsp;&nbsp; $(56)<br>| &nbsp;&nbsp; $(81)<br>| &nbsp;&nbsp; $319668 | &nbsp;&nbsp; $9342 |

---

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

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

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

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

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

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

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

---

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

---

American Funds Insurance Series — Page 5 of 319

------

**Global Small Capitalization Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 96.69%<br> **Industrials 20.77%**<br>| Shares | Value<br> (000)<br>|
| International Container Terminal Services, Inc.  | 3775560 | $30594 |
| Cleanaway Waste Management, Ltd.  | 16584661 | 30398 |
| Takasago Thermal Engineering Co., Ltd.  | 840548 | 23400 |
| Diploma PLC  | 327432 | 23361 |
| Trelleborg AB, Class B  | 614656 | 22884 |
| ATI, Inc. <sup>(a)</sup>  | 273691 | 22262 |
| Nexans SA  | 144359 | 21355 |
| Adecco Group AG  | 705240 | 19756 |
| Comfort Systems USA, Inc.  | 22756 | 18778 |
| Qantas Airways, Ltd.  | 2581896 | 18656 |
| CBIZ, Inc. <sup>(a)</sup>  | 346801 | 18367 |
| UL Solutions, Inc., Class A  | 258963 | 18350 |
| Casella Waste Systems, Inc., Class A <sup>(a)</sup>  | 185415 | 17592 |
| Carel Industries SpA  | 569940 | 14955 |
| VSE Corp.  | 82900 | 13781 |
| Rumo SA  | 4466646 | 13403 |
| ICF International, Inc.  | 136636 | 12680 |
| Inox Wind, Ltd. <sup>(a)</sup>  | 8025554 | 12676 |
| LS Electric Co., Ltd.  | 60272 | 12222 |
| Sinfonia Technology Co., Ltd.  | 189486 | 11686 |
| Bombardier, Inc., Class B <sup>(a)</sup>  | 75000 | 10510 |
| Kandenko Co., Ltd.  | 363300 | 9964 |
| Alaska Air Group, Inc. <sup>(a)</sup>  | 200000 | 9956 |
| Godrej Industries, Ltd. <sup>(a)</sup>  | 723053 | 9786 |
| Applied Industrial Technologies, Inc.  | 37155 | 9699 |
| dormakaba Holding AG  | 9722 | 8915 |
| Howden Joinery Group PLC  | 776568 | 8810 |
| Sterling Infrastructure, Inc. <sup>(a)</sup>  | 25735 | 8742 |
| First Advantage Corp. <sup>(a)</sup>  | 545156 | 8390 |
| RENK Group AG  | 80081 | 8237 |
| Visional, Inc. <sup>(a)</sup>  | 105238 | 8048 |
| Air Lease Corp., Class A  | 125000 | 7956 |
| Addtech AB, Class B  | 245222 | 7950 |
| REV Group, Inc.  | 138900 | 7871 |
| IMCD NV  | 71833 | 7422 |
| Reliance Worldwide Corp., Ltd.  | 2633607 | 7127 |
| Hensoldt AG <sup>(b)</sup>  | 54720 | 7086 |
| Beijer Ref AB, Class B  | 445805 | 6944 |
| Tetra Tech, Inc.  | 197183 | 6582 |
| Localiza Rent a Car SA, ordinary nominative shares  | 855885 | 6344 |
| Huber + Suhner AG  | 35267 | 6043 |
| Rosebank Industries PLC <sup>(a)</sup>  | 1183000 | 5775 |
| SPIE SA  | 103175 | 5548 |
| Trex Co., Inc. <sup>(a)</sup>  | 102977 | 5321 |
| Engcon AB, Class B  | 674765 | 5318 |
| SATS, Ltd.  | 1943400 | 5107 |

---

American Funds Insurance Series — Page 6 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Industrials (continued)**<br>| Shares | Value<br> (000)<br>|
| XPO, Inc. <sup>(a)</sup>  | 37315 | $4824 |
| WESCO International, Inc.  | 20529 | 4342 |
| Oshkosh Corp.  | 31942 | 4143 |
| Huaming Power Equipment Co., Ltd., Class A  | 1403100 | 3905 |
| KEI Industries, Ltd.  | 84089 | 3847 |
| Byrna Technologies, Inc. <sup>(a)(b)</sup>  | 166228 | 3684 |
| IndiaMart InterMesh, Ltd.  | 123146 | 3268 |
| Matson, Inc.  | 30728 | 3030 |
| FTI Consulting, Inc. <sup>(a)</sup>  | 15646 | 2529 |
| Delhivery Ltd. <sup>(a)</sup>  | 433780 | 2199 |
| Voyager Technologies, Inc., Class A <sup>(a)</sup>  | 61500 | 1831 |
| Firefly Aerospace, Inc. <sup>(a)</sup>  | 17600 | 516 |
| McGrath RentCorp  | 4336 | 509 |
|  |  | 615234 |
| **Financials 16.50%** |  |  |
| Glacier Bancorp, Inc.  | 648739 | 31574 |
| Cholamandalam Investment and Finance Co., Ltd.  | 1576928 | 28609 |
| HDFC Asset Management Co., Ltd.  | 453566 | 28262 |
| SLM Corp.  | 950948 | 26322 |
| Stifel Financial Corp.  | 229857 | 26082 |
| First American Financial Corp.  | 379577 | 24384 |
| Eurobank Ergasias Services and Holdings SA  | 6000458 | 23121 |
| Vontobel Holding AG  | 305281 | 22971 |
| IIFL Finance, Ltd. <sup>(a)</sup>  | 4298688 | 21879 |
| Janus Henderson Group PLC  | 422023 | 18784 |
| Max Financial Services, Ltd. <sup>(a)</sup>  | 989050 | 17555 |
| Porto Seguro SA  | 1711732 | 16036 |
| Kyoto Financial Group, Inc.  | 750000 | 15955 |
| Asia Commercial Joint Stock Bank  | 15080250 | 14550 |
| Lazard, Inc., Class A  | 263022 | 13882 |
| Pluxee NV  | 742682 | 13175 |
| Home BancShares, Inc.  | 462484 | 13088 |
| SiriusPoint, Ltd. <sup>(a)</sup>  | 700000 | 12663 |
| Baldwin Insurance Group, Inc. (The), Class A <sup>(a)</sup>  | 436452 | 12312 |
| Gunma Bank, Ltd. (The) <sup>(b)</sup>  | 988400 | 11038 |
| Banco del Bajio, SA  | 4062979 | 10232 |
| SouthState Bank Corp.  | 96613 | 9552 |
| Essent Group, Ltd.  | 150000 | 9534 |
| EFG International AG  | 334117 | 6791 |
| Patria Investments, Ltd., Class A  | 429310 | 6268 |
| Hokuhoku Financial Group, Inc.  | 228875 | 5994 |
| FirstCash Holdings, Inc.  | 37480 | 5938 |
| PJT Partners, Inc., Class A  | 28318 | 5033 |
| JB Financial Group Co., Ltd.  | 294756 | 4821 |
| Discovery, Ltd.  | 410421 | 4682 |
| CVB Financial Corp.  | 243840 | 4611 |
| 360 ONE WAM, Ltd.  | 382790 | 4415 |
| Sprott, Inc.  | 51462 | 4277 |
| Root, Inc., Class A <sup>(a)</sup>  | 35560 | 3183 |
| Haci Omer Sabanci Holding AS  | 1477665 | 3085 |
| Bridgepoint Group PLC  | 597028 | 2449 |
| IG Group Holdings PLC  | 134590 | 1949 |

---

American Funds Insurance Series — Page 7 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials (continued)**<br>| Shares | Value<br> (000)<br>|
| Capitec Bank Holdings, Ltd.  | 9438 | $1899 |
| BNK Financial Group, Inc.  | 173416 | 1803 |
|  |  | 488758 |
| **Information technology 14.22%** |  |  |
| King Slide Works Co., Ltd.  | 361784 | 39053 |
| Allegro MicroSystems, Inc. <sup>(a)</sup>  | 974214 | 28447 |
| Semtech Corp. <sup>(a)</sup>  | 391320 | 27960 |
| Lattice Semiconductor Corp. <sup>(a)</sup>  | 371183 | 27215 |
| MACOM Technology Solutions Holdings, Inc. <sup>(a)</sup>  | 185668 | 23114 |
| Lumentum Holdings, Inc. <sup>(a)</sup>  | 135733 | 22085 |
| PAR Technology Corp. <sup>(a)</sup>  | 497881 | 19706 |
| Kokusai Electric Corp.  | 672691 | 19100 |
| Credo Technology Group Holding, Ltd. <sup>(a)</sup>  | 121157 | 17642 |
| Silicon Laboratories, Inc. <sup>(a)</sup>  | 116697 | 15302 |
| Q2 Holdings, Inc. <sup>(a)</sup>  | 198415 | 14363 |
| Pegasystems, Inc.  | 232037 | 13342 |
| Unity Software, Inc. <sup>(a)</sup>  | 302073 | 12095 |
| Riken Keiki Co., Ltd.  | 543100 | 11476 |
| eMemory Technology, Inc.  | 168430 | 11135 |
| Rogers Corp. <sup>(a)</sup>  | 125624 | 10108 |
| Maruwa Co., Ltd.  | 38054 | 9958 |
| Insight Enterprises, Inc. <sup>(a)</sup>  | 78993 | 8959 |
| Tokyo Seimitsu Co., Ltd. <sup>(b)</sup>  | 124023 | 8433 |
| Klaviyo, Inc., Class A <sup>(a)</sup>  | 299960 | 8306 |
| MKS, Inc.  | 56170 | 6952 |
| Ncino, Inc. <sup>(a)</sup>  | 250605 | 6794 |
| MARA Holdings, Inc. <sup>(a)</sup>  | 356957 | 6518 |
| Fabrinet, non-registered shares <sup>(a)</sup>  | 16296 | 5942 |
| Netskope, Inc., Class A <sup>(a)</sup>  | 242300 | 5508 |
| Cellebrite DI, Ltd. <sup>(a)</sup>  | 273780 | 5073 |
| Domo, Inc., Class B <sup>(a)</sup>  | 300719 | 4763 |
| Softcat PLC  | 211275 | 4484 |
| Topicus.com, Inc., subordinate voting shares <sup>(a)</sup>  | 41117 | 4410 |
| HPSP Co., Ltd.  | 142882 | 3437 |
| Via Transportation, Inc., Class A <sup>(a)(b)</sup>  | 70900 | 3409 |
| ASMPT, Ltd.  | 316400 | 3336 |
| Confluent, Inc., Class A <sup>(a)</sup>  | 157073 | 3110 |
| OBIC Business Consultants Co., Ltd.  | 46700 | 2874 |
| MongoDB, Inc., Class A <sup>(a)</sup>  | 9118 | 2830 |
| Wolfspeed, Inc. <sup>(a)</sup>  | 97124 | 2778 |
| Hexaware Technologies, Ltd.  | 135896 | 1026 |
| Yotpo, Ltd. <sup>(a)(c)(d)</sup>  | 678736 | 333 |
|  |  | 421376 |
| **Consumer discretionary 11.70%** |  |  |
| Entain PLC  | 2730529 | 32089 |
| DraftKings, Inc., Class A <sup>(a)</sup>  | 545749 | 20411 |
| TopBuild Corp. <sup>(a)</sup>  | 52196 | 20401 |
| CAVA Group, Inc. <sup>(a)</sup>  | 320547 | 19364 |
| Thor Industries, Inc.  | 181406 | 18810 |
| Sega Sammy Holdings, Inc.  | 886100 | 18671 |
| Modine Manufacturing Co. <sup>(a)</sup>  | 128520 | 18270 |
| Light & Wonder, Inc. <sup>(a)</sup>  | 99880 | 8384 |
| Light & Wonder, Inc. CHESS Depositary Interest <sup>(a)</sup>  | 75431 | 6471 |

---

American Funds Insurance Series — Page 8 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Consumer discretionary (continued)**<br>| Shares | Value<br> (000)<br>|
| Wyndham Hotels & Resorts, Inc.  | 180987 | $14461 |
| Champion Homes, Inc. <sup>(a)</sup>  | 187166 | 14294 |
| Acushnet Holdings Corp.  | 150000 | 11774 |
| Guzman y Gomez, Ltd.  | 626907 | 10777 |
| Grand Canyon Education, Inc. <sup>(a)</sup>  | 46979 | 10313 |
| Genius Sports, Ltd. <sup>(a)</sup>  | 806826 | 9989 |
| Food & Life Cos., Ltd.  | 190000 | 9940 |
| Steven Madden, Ltd.  | 286300 | 9585 |
| Boot Barn Holdings, Inc. <sup>(a)</sup>  | 57017 | 9449 |
| Aditya Vision, Ltd.  | 1409045 | 8966 |
| Yonex Co., Ltd.  | 300000 | 7688 |
| Patrick Industries, Inc.  | 73088 | 7560 |
| Lottomatica Group SpA  | 274556 | 7388 |
| Inchcape PLC  | 721957 | 6724 |
| Camping World Holdings, Inc., Class A  | 417950 | 6600 |
| MRF, Ltd.  | 4006 | 6579 |
| Ollies Bargain Outlet Holdings, Inc. <sup>(a)</sup>  | 45735 | 5872 |
| tonies SE, Class A <sup>(a)</sup>  | 612635 | 5467 |
| Smartfit Escola de Ginastica e Danca SA  | 980320 | 4914 |
| Cairn Homes PLC (EUR denominated)  | 1726176 | 3883 |
| Zalando SE, non-registered shares <sup>(a)</sup>  | 124910 | 3814 |
| Savers Value Village, Inc. <sup>(a)</sup>  | 220701 | 2924 |
| Coats Group PLC  | 2410912 | 2701 |
| Shoei Co., Ltd.  | 127478 | 1516 |
| Metaplanet, Inc. <sup>(a)</sup>  | 157950 | 614 |
|  |  | 346663 |
| **Health care 11.69%** |  |  |
| Ensign Group, Inc. (The)  | 201436 | 34802 |
| Insulet Corp. <sup>(a)</sup>  | 106257 | 32805 |
| Masimo Corp. <sup>(a)</sup>  | 180691 | 26661 |
| DiaSorin SpA  | 218636 | 19385 |
| IDEAYA Biosciences, Inc. <sup>(a)</sup>  | 683100 | 18587 |
| Carl Zeiss Meditec AG, non-registered shares <sup>(b)</sup>  | 326744 | 16173 |
| Max Healthcare Institute, Ltd.  | 1220256 | 15320 |
| Glenmark Pharmaceuticals, Ltd.  | 653989 | 14383 |
| Bio-Rad Laboratories, Inc., Class A <sup>(a)</sup>  | 50048 | 14033 |
| Addus HomeCare Corp. <sup>(a)</sup>  | 112270 | 13247 |
| Ambu AS, Class B, non-registered shares  | 833066 | 12133 |
| Bio-Techne Corp.  | 184985 | 10291 |
| Asker Healthcare Group AB <sup>(a)</sup>  | 964065 | 8725 |
| Encompass Health Corp.  | 67990 | 8636 |
| iRhythm Technologies, Inc. <sup>(a)</sup>  | 49337 | 8486 |
| Kymera Therapeutics, Inc. <sup>(a)</sup>  | 149795 | 8478 |
| Vimian Group AB (publ) <sup>(a)(b)</sup>  | 2801777 | 8476 |
| Zealand Pharma AS <sup>(a)</sup>  | 116209 | 8428 |
| Rhythm Pharmaceuticals, Inc. <sup>(a)</sup>  | 67842 | 6851 |
| Denali Therapeutics, Inc. <sup>(a)</sup>  | 454147 | 6594 |
| CONMED Corp.  | 135282 | 6362 |
| Indegene, Ltd.  | 965116 | 6098 |
| Dr. Lal PathLabs, Ltd.  | 158160 | 5554 |
| Aster DM Healthcare, Ltd.  | 739863 | 5224 |
| AddLife AB, Class B  | 267384 | 5039 |
| BridgeBio Pharma, Inc. <sup>(a)</sup>  | 92923 | 4826 |
| Vitrolife AB  | 313852 | 4324 |

---

American Funds Insurance Series — Page 9 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Health care (continued)**<br>| Shares | Value<br> (000)<br>|
| Establishment Labs Holdings, Inc. <sup>(a)(b)</sup>  | 92322 | $3784 |
| Vericel Corp. <sup>(a)</sup>  | 97455 | 3067 |
| Enliven Therapeutics, Inc. <sup>(a)</sup>  | 149388 | 3058 |
| ADMA Biologics, Inc. <sup>(a)</sup>  | 200526 | 2940 |
| Biohaven, Ltd. <sup>(a)</sup>  | 129570 | 1945 |
| Prestige Consumer Healthcare, Inc. <sup>(a)</sup>  | 27810 | 1735 |
|  |  | 346450 |
| **Materials 7.41%** |  |  |
| Resonac Holdings Co., Ltd.  | 1183614 | 40186 |
| Materion Corp.  | 255673 | 30888 |
| Sumitomo Bakelite Co., Ltd.  | 839559 | 28176 |
| Celanese Corp.  | 476316 | 20043 |
| Knife River Corp. <sup>(a)</sup>  | 233945 | 17983 |
| Lundin Gold, Inc.  | 250000 | 16198 |
| Lundin Mining Corp.  | 1000000 | 14917 |
| Dyno Nobel, Ltd.  | 5276174 | 10823 |
| Huhtamaki OYJ  | 261863 | 9063 |
| Acerinox, SA  | 458381 | 5974 |
| Cabot Corp.  | 48229 | 3668 |
| Mitsui Mining and Smelting Co.,Ltd.  | 44800 | 3485 |
| Umicore SA  | 181924 | 3227 |
| Vicat SACA  | 43191 | 3027 |
| Osaka Soda Co., Ltd.  | 267800 | 3001 |
| NV Bekaert SA  | 53808 | 2457 |
| Arkema SA  | 37056 | 2332 |
| ASP Isotopes Inc. <sup>(a)(b)</sup>  | 187486 | 1804 |
| Mayr-Melnhof Karton AG, non-registered shares  | 17249 | 1602 |
| LANXESS AG  | 32781 | 812 |
|  |  | 219666 |
| **Communication services 3.56%** |  |  |
| Nippon Television Holdings, Inc.  | 1000400 | 26694 |
| Magnite, Inc. <sup>(a)</sup>  | 797332 | 17366 |
| Springer Nature AG & Co. KGaA, non-registered shares  | 609415 | 16599 |
| Rightmove PLC  | 1117291 | 10648 |
| New York Times Co., Class A  | 175000 | 10045 |
| Indosat Tbk PT  | 87957409 | 9236 |
| Kadokawa Corp.  | 283700 | 6920 |
| Lionsgate Studios Corp. <sup>(a)</sup>  | 660496 | 4557 |
| Starz Entertainment Corp. <sup>(a)</sup>  | 151869 | 2237 |
| Bharti Hexacom, Ltd.  | 68127 | 1274 |
|  |  | 105576 |
| **Consumer staples 3.34%** |  |  |
| Raia Drogasil SA, ordinary nominative shares  | 7734152 | 26767 |
| BBB Foods, Inc., Class A <sup>(a)</sup>  | 813564 | 21934 |
| Lamb Weston Holdings, Inc.  | 250000 | 14520 |
| Universal Robina Corp.  | 11735715 | 14296 |
| BellRing Brands, Inc. <sup>(a)</sup>  | 328821 | 11953 |
| Apotea Sverige AB <sup>(a)</sup>  | 593629 | 5651 |
| e.l.f. Beauty, Inc. <sup>(a)</sup>  | 29174 | 3865 |
|  |  | 98986 |

---

American Funds Insurance Series — Page 10 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Energy 3.06%**<br>| Shares | Value<br> (000)<br>|
| Weatherford International  | 500595 | $34256 |
| NuVista Energy, Ltd. <sup>(a)</sup>  | 1287545 | 14876 |
| CNX Resources Corp. <sup>(a)</sup>  | 450000 | 14454 |
| Vista Energy, SAB de CV, Class A (ADR) <sup>(a)</sup>  | 202376 | 6962 |
| Aegis Logistics Ltd.  | 790464 | 6817 |
| Aegis Vopak Terminals, Ltd. <sup>(a)</sup>  | 953011 | 2796 |
| Energy Fuels Inc. <sup>(a)(b)</sup>  | 167531 | 2572 |
| Cactus, Inc., Class A  | 57874 | 2284 |
| Denison Mines Corp. <sup>(a)</sup>  | 740993 | 2039 |
| Secure Waste Infrastructure Corp.  | 128200 | 1826 |
| NexGen Energy, Ltd. <sup>(a)</sup>  | 199574 | 1786 |
|  |  | 90668 |
| **Real estate 2.38%** |  |  |
| Charter Hall Group REIT  | 1524887 | 22955 |
| Embassy Office Parks REIT  | 4429528 | 21049 |
| Mindspace Business Parks REIT  | 1250000 | 6403 |
| NTT DC REIT <sup>(a)</sup>  | 6000000 | 6000 |
| Lodha Developers, Ltd.  | 442564 | 5661 |
| St. Joe Co.  | 87085 | 4309 |
| Altus Group, Ltd.  | 57062 | 2437 |
| UMH Properties, Inc. REIT  | 110600 | 1643 |
|  |  | 70457 |
| **Utilities 2.06%** |  |  |
| Neoenergia SA  | 3751908 | 20232 |
| Talen Energy Corp. <sup>(a)</sup>  | 34414 | 14639 |
| Black Hills Corp.  | 197486 | 12163 |
| Nippon Gas Co., Ltd. <sup>(b)</sup>  | 380500 | 7122 |
| SembCorp Industries, Ltd.  | 1494100 | 6973 |
|  |  | 61129 |
| **Total common stocks** (cost: $2,096,108,000) |  | 2864963 |
| Preferred securities 0.84%<br> **Information technology 0.50%**<br>|  |  |
| SmartHR, Inc., Series D, preferred shares <sup>(a)(c)(d)</sup>  | 3006 | 12394 |
| Yotpo, Ltd., Series F, preferred shares <sup>(a)(c)(d)</sup>  | 2158609 | 1058 |
| Yotpo, Ltd., Series B, preferred shares <sup>(a)(c)(d)</sup>  | 287894 | 141 |
| Yotpo, Ltd., Series C, preferred shares <sup>(a)(c)(d)</sup>  | 274070 | 134 |
| Yotpo, Ltd., Series A-1, preferred shares <sup>(a)(c)(d)</sup>  | 183819 | 90 |
| Yotpo, Ltd., Series A, preferred shares <sup>(a)(c)(d)</sup>  | 89605 | 44 |
| Yotpo, Ltd., Series C-1, preferred shares <sup>(a)(c)(d)</sup>  | 75980 | 37 |
| Yotpo, Ltd., Series D, preferred shares <sup>(a)(c)(d)</sup>  | 42368 | 21 |
| Yotpo, Ltd., Series B-1, preferred shares <sup>(a)(c)(d)</sup>  | 33838 | 17 |
| Outreach Corp., Series G, preferred shares <sup>(a)(c)(d)</sup>  | 154354 | 891 |
|  |  | 14827 |
| **Financials 0.34%** |  |  |
| Federal Home Loan Mortgage Corp., Series Z, 8.375% noncumulative preferred shares <sup>(a)(b)</sup>  | 641250 | 10029 |
| **Total preferred securities** (cost: $28,669,000) |  | 24856 |

---

American Funds Insurance Series — Page 11 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Convertible stocks 0.52%<br> **Materials 0.52%**<br>| Shares | Value<br> (000)<br>|
| Albemarle Corp., Class A, cumulative convertible preferred depositary shares, 7.25% 3/1/2027  | 406409 | $15395 |
| **Total convertible stocks** (cost: $12,427,000) |  | 15395 |
| Convertible bonds & notes 0.09%<br> **Information technology 0.09%**<br>| Principal amount<br> (000)<br>|  |
| Wolfspeed, Inc., convertible notes, 2.50% 6/15/2031 <sup>(c)</sup>  | USD773 | 1847 |
| Wolfspeed, Inc., convertible notes, 2.50% 6/15/2031 <sup>(e)</sup>  | 291 | 698 |
| **Total convertible bonds & notes** (cost: $918,000) |  | 2545 |
| Bonds, notes & other debt instruments 0.03%<br> **Corporate bonds, notes & loans 0.03%**<br> **Information technology 0.03%**<br>|  |  |
| Wolfspeed, Inc. 12.00% PIK or 7.00% Cash 6/15/2031 (7.00% on 12/15/2030) <sup>(f)(g)</sup>  | 1173 | 1038 |
| **Total bonds, notes & other debt instruments** (cost: $1,369,000) |  | 1038 |
| Short-term securities 3.06%<br> **Money market investments 2.34%**<br>| Shares |  |
| Capital Group Central Cash Fund 4.17% <sup>(h)(i)</sup>  | 695134 | 69513 |
| **Money market investments purchased with collateral from securities on loan 0.72%** |  |  |
| Capital Group Central Cash Fund 4.17% <sup>(h)(i)(j)</sup>  | 138096 | 13810 |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(h)(j)</sup>  | 7502169 | 7502 |
|  |  | 21312 |
| **Total short-term securities** (cost: $90,821,000) |  | 90825 |
| **Total investment securities 101.23%** (cost: $2,230,312,000) |  | 2999622 |
| **Other assets less liabilities (1.23)%** |  | (36573)<br>|
| **Net assets 100.00%** |  | $2963049 |

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Common stocks 0.00%** | **Common stocks 0.00%** | **Common stocks 0.00%** | **Common stocks 0.00%** | **Common stocks 0.00%** | **Common stocks 0.00%** | **Common stocks 0.00%** | **Common stocks 0.00%** |
| **Consumer discretionary 0.00%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lands' End, Inc. <sup>(a)(k)</sup> <br>| $27594 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $16981 | &nbsp;&nbsp; $2176 | &nbsp;&nbsp; $(12789)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| **Short-term securities 2.81%** | **Short-term securities 2.81%** | **Short-term securities 2.81%** | **Short-term securities 2.81%** | **Short-term securities 2.81%** | **Short-term securities 2.81%** | **Short-term securities 2.81%** | **Short-term securities 2.81%** |
| **Money market investments 2.34%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(h)</sup> <br>| 16001 | &nbsp;&nbsp; 589001 | &nbsp;&nbsp; 535493 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 69513 | &nbsp;&nbsp; 3534 |

---

American Funds Insurance Series — Page 12 of 319

------

**unaudited**

Investments in affiliates <sup>(i)</sup> (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Value at<br> 1/1/2025<br> (000)<br>| Additions<br> (000)<br>| Net<br> realized<br> gain (loss)<br> (000)<br>| Net<br> unrealized<br> appreciation<br> (depreciation)<br> (000)<br>| Value at<br> 9/30/2025<br> (000)<br>| Dividend<br> or interest<br> income<br> (000)<br>|
| **Money market investments purchased with collateral** <br>**from securities on loan 0.47%**<br>|  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(h)(j)</sup> <br>| $19927 | &nbsp;&nbsp; $ &nbsp;&nbsp; $6117 <br><sup>(l)</sup><br>| &nbsp;&nbsp; $ | &nbsp;&nbsp; $ | &nbsp;&nbsp; $13810 | &nbsp;&nbsp; $— <br><sup>(m)</sup><br>|
| **Total short-term securities** |  |  |  |  | &nbsp;&nbsp; 83323 |  |
| **Total 2.81%** |  |  | &nbsp;&nbsp; $2179 | &nbsp;&nbsp; $(12788)<br>| &nbsp;&nbsp; $83323 | &nbsp;&nbsp; $3534 |

---

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

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| SmartHR, Inc., Series D, preferred shares <sup>(a)(c)</sup> <br>| 5/28/2021 | $14344 | $12394 | 0.42<br> %<br>|
| Yotpo, Ltd., Series F, preferred shares <sup>(a)(c)</sup> <br>| 2/25/2021 | 4748 | 1058 | 0.04 |
| Yotpo, Ltd. <sup>(a)(c)</sup> <br>| 3/16/2021 | 1418 | 333 | 0.01 |
| Yotpo, Ltd., Series B, preferred shares <sup>(a)(c)</sup> <br>| 3/16/2021 | 602 | 141 | 0.01 |
| Yotpo, Ltd., Series C, preferred shares <sup>(a)(c)</sup> <br>| 3/16/2021 | 573 | 134 | 0.00 <br><sup>(n)</sup><br>|
| Yotpo, Ltd., Series A-1, preferred shares <sup>(a)(c)</sup> <br>| 3/16/2021 | 384 | 90 | 0.00 <br><sup>(n)</sup><br>|
| Yotpo, Ltd., Series A, preferred shares <sup>(a)(c)</sup> <br>| 3/16/2021 | 187 | 44 | 0.00 <br><sup>(n)</sup><br>|
| Yotpo, Ltd., Series C-1, preferred shares <sup>(a)(c)</sup> <br>| 3/16/2021 | 159 | 37 | 0.00 <br><sup>(n)</sup><br>|
| Yotpo, Ltd., Series D, preferred shares <sup>(a)(c)</sup> <br>| 3/16/2021 | 88 | 21 | 0.00 <br><sup>(n)</sup><br>|
| Yotpo, Ltd., Series B-1, preferred shares <sup>(a)(c)</sup> <br>| 3/16/2021 | 71 | 17 | 0.00 <br><sup>(n)</sup><br>|
| Outreach Corp., Series G, preferred shares <sup>(a)(c)</sup> <br>| 5/27/2021 | 4517 | 891 | 0.03 |
| **Total** |  | $27091 | $15160 | 0.51<br> %<br>|

---

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

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

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

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

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

<sup>(e)</sup> 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 $698,000, which represented 0.02% of the net assets of the fund. 

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

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

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

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

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

<sup>(l)</sup> Represents net activity. 

<sup>(m)</sup> Dividend income is included with securities lending income and is not shown in this table.

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

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| EUR = Euros |
| PIK = Payment In Kind |
| REIT = Real Estate Investment Trust |
| USD = U.S. dollars |

---

American Funds Insurance Series — Page 13 of 319

------

**Growth Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 97.98%<br> **Information technology 29.45%**<br>| Shares | Value<br> (000)<br>|
| NVIDIA Corp.  | 15650681 | $2920104 |
| Broadcom, Inc.  | 7611056 | 2510962 |
| Microsoft Corp.  | 4705891 | 2437416 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 7554237 | 1122635 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 4644781 | 996724 |
| Micron Technology, Inc.  | 4269870 | 714435 |
| Apple, Inc.  | 2160442 | 550113 |
| Salesforce, Inc.  | 2200596 | 521541 |
| Strategy, Inc., Class A <sup>(a)</sup>  | 1507861 | 485848 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 9953699 | 426195 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 178139 | 49753 |
| SK hynix, Inc.  | 1164664 | 288458 |
| Synopsys, Inc. <sup>(a)</sup>  | 548921 | 270832 |
| Constellation Software, Inc.  | 98932 | 268566 |
| Fair Isaac Corp. <sup>(a)</sup>  | 158540 | 237260 |
| Unity Software, Inc. <sup>(a)</sup>  | 4929303 | 197369 |
| AppLovin Corp., Class A <sup>(a)</sup>  | 270000 | 194006 |
| Motorola Solutions, Inc.  | 392000 | 179258 |
| ASML Holding NV (ADR)  | 159102 | 154025 |
| ASML Holding NV  | 25261 | 24560 |
| KLA Corp.  | 159061 | 171563 |
| Adobe, Inc. <sup>(a)</sup>  | 470568 | 165993 |
| Oracle Corp.  | 588434 | 165491 |
| Palantir Technologies, Inc., Class A <sup>(a)</sup>  | 809801 | 147724 |
| Amphenol Corp., Class A  | 989238 | 122418 |
| Intel Corp. <sup>(a)</sup>  | 3292963 | 110479 |
| Gartner, Inc. <sup>(a)</sup>  | 368027 | 96743 |
| Datadog, Inc., Class A <sup>(a)</sup>  | 617418 | 87920 |
| DocuSign, Inc. <sup>(a)</sup>  | 922000 | 66467 |
| ARM Holdings PLC (ADR) <sup>(a)</sup>  | 437756 | 61938 |
| Accenture PLC, Class A  | 189363 | 46697 |
| Monday.com, Ltd. <sup>(a)</sup>  | 228636 | 44285 |
| RingCentral, Inc., Class A <sup>(a)</sup>  | 1465500 | 41532 |
| ServiceNow, Inc. <sup>(a)</sup>  | 31490 | 28980 |
| Atlassian Corp., Class A <sup>(a)</sup>  | 175462 | 28021 |
| Applied Materials, Inc.  | 102877 | 21063 |
| MKS, Inc.  | 101047 | 12507 |
| TE Connectivity PLC  | 53662 | 11780 |
| Figma, Inc. <sup>(a)(b)</sup>  | 181900 | 9435 |
| Stripe, Inc., Class B <sup>(a)(c)(d)</sup>  | 168598 | 5985 |
|  |  | 15997081 |
| **Communication services 18.24%** |  |  |
| Meta Platforms, Inc., Class A  | 6338307 | 4654726 |
| Alphabet, Inc., Class C  | 5366020 | 1306894 |
| Alphabet, Inc., Class A  | 5200382 | 1264213 |

---

American Funds Insurance Series — Page 14 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Communication services (continued)**<br>| Shares | Value<br> (000)<br>|
| Netflix, Inc. <sup>(a)</sup>  | 1301505 | $1560401 |
| ROBLOX Corp., Class A <sup>(a)</sup>  | 1951083 | 270264 |
| Charter Communications, Inc., Class A <sup>(a)</sup>  | 831832 | 228841 |
| Live Nation Entertainment, Inc. <sup>(a)</sup>  | 1297347 | 211987 |
| Snap, Inc., Class A, nonvoting shares <sup>(a)</sup>  | 27200000 | 209712 |
| Take-Two Interactive Software, Inc. <sup>(a)</sup>  | 341997 | 88358 |
| Comcast Corp., Class A  | 1343725 | 42220 |
| Nintendo Co., Ltd.  | 411400 | 35622 |
| T-Mobile US, Inc.  | 99374 | 23788 |
| Pinterest, Inc., Class A <sup>(a)</sup>  | 352109 | 11327 |
|  |  | 9908353 |
| **Consumer discretionary 15.92%** |  |  |
| Tesla, Inc. <sup>(a)</sup>  | 7582601 | 3372134 |
| Amazon.com, Inc. <sup>(a)</sup>  | 5500376 | 1207718 |
| Royal Caribbean Cruises, Ltd.  | 1873957 | 606375 |
| DoorDash, Inc., Class A <sup>(a)</sup>  | 1700000 | 462383 |
| D.R. Horton, Inc.  | 2601252 | 440834 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 8243104 | 323047 |
| NIKE, Inc., Class B  | 3183461 | 221983 |
| Tractor Supply Co.  | 3325000 | 189093 |
| Norwegian Cruise Line Holdings, Ltd. <sup>(a)</sup>  | 6094950 | 150119 |
| Hermes International  | 61000 | 149178 |
| Burlington Stores, Inc. <sup>(a)</sup>  | 571948 | 145561 |
| Home Depot, Inc.  | 315781 | 127951 |
| Wayfair, Inc., Class A <sup>(a)</sup>  | 1406061 | 125603 |
| Aramark  | 3218114 | 123576 |
| Booking Holdings, Inc.  | 21261 | 114794 |
| Duolingo, Inc., Class A <sup>(a)</sup>  | 267716 | 86162 |
| Texas Roadhouse, Inc.  | 508093 | 84420 |
| Flutter Entertainment PLC <sup>(a)</sup>  | 330165 | 83862 |
| Rivian Automotive, Inc., Class A <sup>(a)</sup>  | 5693160 | 83576 |
| Service Corp. International  | 848647 | 70624 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 103754 | 63403 |
| Amadeus IT Group SA, Class A, non-registered shares  | 661683 | 52437 |
| Floor & Decor Holdings, Inc., Class A <sup>(a)</sup>  | 690678 | 50903 |
| Five Below, Inc. <sup>(a)</sup>  | 252000 | 38984 |
| Churchill Downs, Inc.  | 393735 | 38196 |
| YUM! Brands, Inc.  | 246744 | 37505 |
| DraftKings, Inc., Class A <sup>(a)</sup>  | 908357 | 33973 |
| Starbucks Corp.  | 381976 | 32315 |
| CAVA Group, Inc. <sup>(a)</sup>  | 510938 | 30866 |
| O'Reilly Automotive, Inc. <sup>(a)</sup>  | 223587 | 24105 |
| Polaris, Inc.  | 371000 | 21566 |
| Wingstop, Inc.  | 68419 | 17220 |
| Marriott International, Inc., Class A  | 47900 | 12475 |
| Caesars Entertainment, Inc. <sup>(a)</sup>  | 356300 | 9629 |
| Helen of Troy, Ltd. <sup>(a)</sup>  | 269597 | 6794 |
| Stubhub Holdings, Inc., Class A <sup>(a)(b)</sup>  | 289405 | 4874 |
| Hilton Worldwide Holdings, Inc.  | 15319 | 3974 |
|  |  | 8648212 |

---

American Funds Insurance Series — Page 15 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Industrials 10.22%**<br>| Shares | Value<br> (000)<br>|
| TransDigm Group, Inc.  | 716472 | $944324 |
| General Aerospace Co.  | 1466452 | 441138 |
| Uber Technologies, Inc. <sup>(a)</sup>  | 3500000 | 342895 |
| Quanta Services, Inc.  | 807367 | 334589 |
| United Rentals, Inc.  | 345427 | 329765 |
| Ingersoll-Rand, Inc.  | 3098263 | 255979 |
| United Airlines Holdings, Inc. <sup>(a)</sup>  | 2300410 | 221990 |
| Axon Enterprise, Inc. <sup>(a)</sup>  | 308266 | 221224 |
| Dayforce, Inc. <sup>(a)</sup>  | 3030416 | 208765 |
| FTAI Aviation, Ltd.  | 1094574 | 182641 |
| ATI, Inc. <sup>(a)</sup>  | 2086140 | 169687 |
| Equifax, Inc.  | 626858 | 160808 |
| Boeing Co. (The) <sup>(a)</sup>  | 684135 | 147657 |
| Republic Services, Inc.  | 641977 | 147321 |
| GE Vernova, Inc.  | 211163 | 129844 |
| Northrop Grumman Corp.  | 202123 | 123158 |
| Rocket Lab Corp. <sup>(a)</sup>  | 2320675 | 111184 |
| Copart, Inc. <sup>(a)</sup>  | 2348144 | 105596 |
| Airbus SE, non-registered shares  | 426445 | 98832 |
| Ryanair Holdings PLC (ADR)  | 1404492 | 84578 |
| Ryanair Holdings PLC  | 96554 | 2800 |
| Bombardier, Inc., Class B <sup>(a)</sup>  | 518058 | 72600 |
| Willscot Holdings Corp., Class A  | 3295427 | 69566 |
| Old Dominion Freight Line, Inc.  | 490000 | 68982 |
| Casella Waste Systems, Inc., Class A <sup>(a)</sup>  | 701174 | 66527 |
| Loar Holdings, Inc. <sup>(a)</sup>  | 817165 | 65373 |
| ITT, Inc.  | 343000 | 61315 |
| Saia, Inc. <sup>(a)</sup>  | 192280 | 57561 |
| Rolls-Royce Holdings PLC  | 3070571 | 49142 |
| HEICO Corp.  | 137622 | 44427 |
| Carrier Global Corp.  | 739587 | 44153 |
| Builders FirstSource, Inc. <sup>(a)</sup>  | 340795 | 41321 |
| Enerpac Tool Group Corp., Class A  | 924087 | 37888 |
| XPO, Inc. <sup>(a)</sup>  | 263564 | 34071 |
| Lennox International, Inc.  | 43370 | 22958 |
| Applied Industrial Technologies, Inc.  | 58825 | 15356 |
| Safran SA  | 39381 | 13875 |
| Tetra Tech, Inc.  | 342234 | 11424 |
| Einride AB <sup>(a)(c)(d)</sup>  | 128088 | 5414 |
| Einride AB (EUR denominated) <sup>(a)(c)(d)</sup>  | 78648 | 3325 |
| Honeywell International, Inc.  | 2246 | 473 |
|  |  | 5550526 |
| **Health care 10.02%** |  |  |
| Intuitive Surgical, Inc. <sup>(a)</sup>  | 1991933 | 890852 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 1708686 | 779161 |
| Eli Lilly and Co.  | 907344 | 692303 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 1501764 | 588151 |
| UnitedHealth Group, Inc.  | 835333 | 288440 |
| HCA Healthcare, Inc.  | 627846 | 267588 |
| Boston Scientific Corp. <sup>(a)</sup>  | 2498431 | 243922 |
| Thermo Fisher Scientific, Inc.  | 472926 | 229379 |
| Hims & Hers Health, Inc., Class A <sup>(a)(b)</sup>  | 2848145 | 161547 |
| Regeneron Pharmaceuticals, Inc.  | 205115 | 115330 |
| Insmed, Inc. <sup>(a)</sup>  | 796167 | 114656 |

---

American Funds Insurance Series — Page 16 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Health care (continued)**<br>| Shares | Value<br> (000)<br>|
| Ionis Pharmaceuticals, Inc. <sup>(a)</sup>  | 1674900 | $109572 |
| Guardant Health, Inc. <sup>(a)</sup>  | 1705050 | 106531 |
| Exact Sciences Corp. <sup>(a)</sup>  | 1856176 | 101551 |
| Ascendis Pharma AS (ADR) <sup>(a)</sup>  | 444896 | 88450 |
| Illumina, Inc. <sup>(a)</sup>  | 849581 | 80685 |
| Mettler-Toledo International, Inc. <sup>(a)</sup>  | 62042 | 76163 |
| EssilorLuxottica SA  | 229003 | 74206 |
| Align Technology, Inc. <sup>(a)</sup>  | 540602 | 67694 |
| Danaher Corp.  | 340644 | 67536 |
| BioNTech SE (ADR) <sup>(a)</sup>  | 562734 | 55497 |
| Abbott Laboratories  | 371669 | 49781 |
| Royalty Pharma PLC, Class A  | 955185 | 33699 |
| Veeva Systems, Inc., Class A <sup>(a)</sup>  | 87585 | 26092 |
| CRISPR Therapeutics AG <sup>(a)(b)</sup>  | 334619 | 21687 |
| IQVIA Holdings, Inc. <sup>(a)</sup>  | 105500 | 20039 |
| Novo Nordisk AS, Class B  | 319431 | 17315 |
| Amgen, Inc.  | 55569 | 15682 |
| Bristol-Myers Squibb Co.  | 307113 | 13851 |
| Humana, Inc.  | 52111 | 13558 |
| Doximity, Inc., Class A <sup>(a)</sup>  | 172495 | 12618 |
| QIAGEN NV  | 242916 | 10853 |
| Verily Life Sciences, LLC <sup>(a)(c)(d)</sup>  | 300178 | 9825 |
|  |  | 5444214 |
| **Financials 7.90%** |  |  |
| Visa, Inc., Class A  | 2685292 | 916705 |
| Bank of America Corp.  | 7760600 | 400369 |
| Fiserv, Inc. <sup>(a)</sup>  | 2760773 | 355946 |
| Toast, Inc., Class A <sup>(a)</sup>  | 7794350 | 284572 |
| Mastercard, Inc., Class A  | 492848 | 280337 |
| Affirm Holdings, Inc., Class A <sup>(a)</sup>  | 3595701 | 262774 |
| KKR & Co., Inc.  | 1893039 | 246000 |
| Capital One Financial Corp.  | 948144 | 201556 |
| Apollo Asset Management, Inc.  | 1370731 | 182677 |
| Block, Inc., Class A <sup>(a)</sup>  | 2336510 | 168860 |
| Brookfield Corp., Class A  | 2314781 | 158748 |
| LPL Financial Holdings, Inc.  | 385715 | 128324 |
| Blue Owl Capital, Inc., Class A  | 6686183 | 113197 |
| UBS Group AG  | 2174000 | 88784 |
| Blackstone, Inc.  | 460742 | 78718 |
| Progressive Corp.  | 307337 | 75897 |
| Truist Financial Corp.  | 1350366 | 61739 |
| Ryan Specialty Holdings, Inc., Class A  | 1007426 | 56779 |
| Ares Management Corp., Class A  | 346466 | 55396 |
| Marsh & McLennan Cos., Inc.  | 267515 | 53912 |
| Brown & Brown, Inc.  | 460405 | 43181 |
| Intercontinental Exchange, Inc.  | 176208 | 29688 |
| Aon PLC, Class A  | 57337 | 20445 |
| Kinsale Capital Group, Inc.  | 34500 | 14671 |
| Coinbase Global, Inc., Class A <sup>(a)</sup>  | 30462 | 10281 |
|  |  | 4289556 |

---

American Funds Insurance Series — Page 17 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Energy 1.74%**<br>| Shares | Value<br> (000)<br>|
| EOG Resources, Inc.  | 2386917 | $267621 |
| Baker Hughes Co., Class A  | 3500000 | 170520 |
| Cenovus Energy, Inc. (CAD denominated)  | 6693761 | 113655 |
| TechnipFMC PLC  | 2000000 | 78900 |
| Viper Energy, Inc., Class A  | 1904761 | 72800 |
| ConocoPhillips  | 760903 | 71974 |
| Diamondback Energy, Inc.  | 325000 | 46508 |
| EQT Corp.  | 701954 | 38207 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 1087226 | 34764 |
| Tourmaline Oil Corp. <sup>(b)</sup>  | 596759 | 25737 |
| Schlumberger NV  | 662103 | 22756 |
|  |  | 943442 |
| **Consumer staples 1.73%** |  |  |
| Performance Food Group Co. <sup>(a)</sup>  | 3559500 | 370330 |
| Costco Wholesale Corp.  | 303405 | 280841 |
| Bunge Global SA  | 679809 | 55234 |
| Mondelez International, Inc., Class A  | 861831 | 53839 |
| Philip Morris International, Inc.  | 298723 | 48453 |
| Church & Dwight Co., Inc.  | 483136 | 42337 |
| Estee Lauder Cos., Inc. (The), Class A  | 350812 | 30914 |
| Dollar Tree Stores, Inc. <sup>(a)</sup>  | 326400 | 30802 |
| Keurig Dr Pepper, Inc.  | 903000 | 23036 |
| JUUL Labs, Inc., Class A <sup>(a)(c)(d)(e)</sup>  | 2496349 | 3095 |
|  |  | 938881 |
| **Materials 1.61%** |  |  |
| Wheaton Precious Metals Corp.  | 2483836 | 277792 |
| Grupo Mexico, SAB de CV, Series B  | 19156155 | 167069 |
| Royal Gold, Inc.  | 551247 | 110569 |
| Albemarle Corp.  | 1072000 | 86918 |
| Franco-Nevada Corp. (CAD denominated)  | 323280 | 71957 |
| Linde PLC  | 122857 | 58357 |
| Barrick Mining Corp.  | 1393335 | 45660 |
| Sherwin-Williams Co.  | 98004 | 33935 |
| Glencore PLC  | 5275000 | 24234 |
|  |  | 876491 |
| **Utilities 0.72%** |  |  |
| Constellation Energy Corp.  | 894062 | 294209 |
| PG&E Corp.  | 4145582 | 62516 |
| Southern Co. (The)  | 357034 | 33836 |
|  |  | 390561 |
| **Real estate 0.43%** |  |  |
| Zillow Group, Inc., Class C, nonvoting shares <sup>(a)</sup>  | 2105080 | 162196 |
| CoStar Group, Inc. <sup>(a)</sup>  | 572259 | 48281 |
| Welltower, Inc. REIT  | 123406 | 21984 |
|  |  | 232461 |
| **Total common stocks** (cost: $21,369,383,000) |  | 53219778 |

---

American Funds Insurance Series — Page 18 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Preferred securities 0.43%<br> **Information technology 0.42%**<br>| Shares | Value<br> (000)<br>|
| Stripe, Inc., Series I, 6.00% noncumulative preferred shares <sup>(a)(c)(d)</sup>  | 2763342 | $98099 |
| Stripe, Inc., Series H, 6.00% noncumulative preferred shares <sup>(a)(c)(d)</sup>  | 52656 | 1869 |
| Anthropic, PBC, Class F, preferred shares <sup>(a)(c)(d)</sup>  | 613792 | 86525 |
| PsiQuantum Corp., Series D, preferred shares <sup>(a)(c)(d)</sup>  | 906761 | 37291 |
| PsiQuantum Corp., Series E, preferred shares <sup>(a)(c)(d)</sup>  | 56040 | 2305 |
| Tipalti Solutions, Ltd., Series F, preferred shares <sup>(a)(c)(d)</sup>  | 406310 | 1963 |
|  |  | 228052 |
| **Industrials 0.01%** |  |  |
| Einride AB, Series C, preferred shares <sup>(a)(c)(d)</sup>  | 154765 | 6542 |
| **Total preferred securities** (cost: $182,580,000) |  | 234594 |
| Rights & warrants 0.07%<br> **Information technology 0.07%**<br>|  |  |
| Openai Global, LLC, rights <sup>(a)(c)(d)</sup>  | 13740540 | 34351 |
| Constellation Software, Inc., warrants, expire 3/31/2040 <sup>(a)(c)</sup>  | 53352 | — <br><sup>(f)</sup><br>|
| **Total rights & warrants** (cost: $13,741,000) |  | 34351 |
| Convertible stocks 0.01%<br> **Materials 0.01%**<br>|  |  |
| Albemarle Corp., Class A, cumulative convertible preferred depositary shares, 7.25% 3/1/2027  | 128700 | 4875 |
| **Industrials 0.00%** |  |  |
| Long Wall Co., Class A-10, noncumulative convertible preferred shares <sup>(c)(d)</sup>  | 809003 | 566 |
| Long Wall Co., Class A-9, noncumulative convertible preferred shares <sup>(c)(d)</sup>  | 171920 | 120 |
|  |  | 686 |
| **Total convertible stocks** (cost: $18,269,000) |  | 5561 |
| Short-term securities 1.65%<br> **Money market investments 1.57%**<br>|  |  |
| Capital Group Central Cash Fund 4.17% <sup>(g)(h)</sup>  | 8526076 | 852608 |
| **Money market investments purchased with collateral from securities on loan 0.08%** |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(g)(i)</sup>  | 43080038 | 43080 |
| **Total short-term securities** (cost: $895,618,000) |  | 895688 |
| **Total investment securities 100.14%** (cost: $22,479,591,000) |  | 54389972 |
| **Other assets less liabilities (0.14)%** |  | (74108)<br>|
| **Net assets 100.00%** |  | $54315864 |

---

American Funds Insurance Series — Page 19 of 319

------

**unaudited**

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 1.57%** | **Short-term securities 1.57%** | **Short-term securities 1.57%** | **Short-term securities 1.57%** | **Short-term securities 1.57%** | **Short-term securities 1.57%** | **Short-term securities 1.57%** | **Short-term securities 1.57%** |
| **Money market investments 1.57%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(g)</sup> <br>| $1045665 | &nbsp;&nbsp; $4559306 | &nbsp;&nbsp; $4752253 | &nbsp;&nbsp; $19 | &nbsp;&nbsp; $(129)<br>| &nbsp;&nbsp; $852608 | &nbsp;&nbsp; $39870 |
| **Money market investments purchased with collateral** <br>**from securities on loan 0.00%**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(g)</sup> <br>| 4032 |  | &nbsp;&nbsp; 4032 <br><sup>(j)</sup><br>|  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(k)</sup><br>|
| **Total 1.57%** |  |  |  | &nbsp;&nbsp; $19 | &nbsp;&nbsp; $(129)<br>| &nbsp;&nbsp; $852608 | &nbsp;&nbsp; $39870 |

---

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

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Stripe, Inc., Series I, 6.00% noncumulative preferred shares <sup>(a)(c)</sup> <br>| 3/15/2023 | $55638 | $98099 | 0.18<br> %<br>|
| Stripe, Inc., Class B <sup>(a)(c)</sup> <br>| 5/6/2021 | 6766 | 5985 | 0.01 |
| Stripe, Inc., Series H, 6.00% noncumulative preferred shares <sup>(a)(c)</sup> <br>| 3/15/2021 | 2113 | 1869 | 0.01 |
| Anthropic, PBC, Class F, preferred shares <sup>(a)(c)</sup> <br>| 8/29/2025 | 86525 | 86525 | 0.16 |
| PsiQuantum Corp., Series D, preferred shares <sup>(a)(c)</sup> <br>| 5/28/2021 | 23781 | 37291 | 0.07 |
| PsiQuantum Corp., Series E, preferred shares <sup>(a)(c)</sup> <br>| 5/23/2025-6/3/2025 | 2305 | 2305 | 0.00 <br><sup>(l)</sup><br>|
| Openai Global, LLC, rights <sup>(a)(c)</sup> <br>| 9/30/2024 | 13741 | 34351 | 0.06 |
| Einride AB, Series C, preferred shares <sup>(a)(c)</sup> <br>| 11/23/2022-8/1/2024 | 5262 | 6542 | 0.01 |
| Einride AB <sup>(a)(c)</sup> <br>| 2/1/2023-7/14/2025 | 4355 | 5414 | 0.01 |
| Einride AB (EUR denominated) <sup>(a)(c)</sup> <br>| 2/1/2023-7/14/2025 | 2674 | 3325 | 0.01 |
| Verily Life Sciences, LLC <sup>(a)(c)</sup> <br>| 12/21/2018 | 37000 | 9825 | 0.02 |
| JUUL Labs, Inc., Class A <sup>(a)(c)(e)</sup> <br>| 7/29/2024 | 19001 | 3095 | 0.01 |
| Tipalti Solutions, Ltd., Series F, preferred shares <sup>(a)(c)</sup> <br>| 12/1/2021 | 6956 | 1963 | 0.00 <br><sup>(l)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long Wall Co., Class A-10, noncumulative convertible preferred <br> shares <sup>(c)</sup> <br>| 12/14/2023 | 1382 | 566 | 0.00 <br><sup>(l)</sup><br>|
| Long Wall Co., Class A-9, noncumulative convertible preferred shares <br> <sup>(c)</sup> <br>| 10/22/2021 | 10452 | 120 | 0.00 <br><sup>(l)</sup><br>|
| **Total** |  | $277951 | $297275 | 0.55<br> %<br>|

---

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

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

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

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

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

<sup>(e)</sup> Security is subject to a contractual sale restriction (lockup). The total value of all such securities was $3,095,000, which represented less than 0.01% of the net assets of the fund. The remaining lockup period is generally less than one year; and early lockup release provisions may be applicable based on certain set milestones or condition in accordance with legal documents. 

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

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

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

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

<sup>(j)</sup> Represents net activity. 

<sup>(k)</sup> Dividend income is included with securities lending income and is not shown in this table.

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

American Funds Insurance Series — Page 20 of 319

------

**unaudited**

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

---

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

---

American Funds Insurance Series — Page 21 of 319

------

**International Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 97.01%<br> **Industrials 17.10%**<br>| Shares | Value<br> (000)<br>|
| Airbus SE, non-registered shares  | 1110341 | $257330 |
| Rolls-Royce Holdings PLC  | 8604093 | 137703 |
| Recruit Holdings Co., Ltd.  | 2404784 | 129488 |
| Siemens AG  | 335958 | 90404 |
| Techtronic Industries Co., Ltd.  | 6515248 | 83346 |
| MTU Aero Engines AG  | 179935 | 82579 |
| Melrose Industries PLC  | 9427170 | 77187 |
| Volvo AB, Class B  | 2141035 | 61290 |
| Diploma PLC  | 614702 | 43857 |
| Localiza Rent a Car SA, ordinary nominative shares  | 5068783 | 37571 |
| Rumo SA  | 11595534 | 34794 |
| Schneider Electric SE  | 115358 | 32180 |
| WEG SA <sup>(a)</sup>  | 4107368 | 28238 |
| Hitachi, Ltd.  | 1041000 | 27664 |
| International Consolidated Airlines Group SA (CDI)  | 4110805 | 21346 |
| Marubeni Corp.  | 835500 | 20892 |
| Safran SA  | 56700 | 19977 |
| ITOCHU Corp.  | 287300 | 16369 |
| BAE Systems PLC  | 571099 | 15815 |
| IHI Corp.  | 840700 | 15690 |
| AtkinsRealis Group, Inc.  | 207653 | 14986 |
| Experian PLC  | 281959 | 14114 |
| Singapore Technologies Engineering, Ltd.  | 1938700 | 12940 |
| DSV A/S  | 47665 | 9480 |
| Ashtead Group PLC  | 99757 | 6661 |
|  |  | 1291901 |
| **Financials 16.67%** |  |  |
| Standard Chartered PLC  | 10759309 | 207720 |
| Nu Holdings, Ltd., Class A <sup>(a)</sup>  | 9178983 | 146955 |
| ING Groep NV  | 4507079 | 116811 |
| Banco Bilbao Vizcaya Argentaria SA  | 5332751 | 102303 |
| KB Financial Group, Inc.  | 1185335 | 97577 |
| Mizuho Financial Group, Inc.  | 2490400 | 83998 |
| 3i Group PLC  | 1258249 | 69195 |
| Banco Santander SA  | 6346196 | 66118 |
| Banco BPM SpA  | 3615692 | 54018 |
| AIA Group, Ltd.  | 5360491 | 51422 |
| China Merchants Bank Co., Ltd., Class A  | 6885237 | 39086 |
| Munchener Ruckversicherungs-Gesellschaft AG  | 56655 | 36145 |
| Tokio Marine Holdings, Inc.  | 722100 | 30611 |
| Bank Central Asia Tbk PT  | 56767400 | 25974 |
| BNP Paribas SA  | 274697 | 24939 |
| ICICI Bank, Ltd.  | 1613133 | 24491 |
| BPER Banca SpA  | 1418221 | 15711 |
| Hana Financial Group, Inc.  | 186011 | 11561 |

---

American Funds Insurance Series — Page 22 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials (continued)**<br>| Shares | Value<br> (000)<br>|
| Brookfield Corp., Class A (CAD denominated)  | 167077 | $11464 |
| NatWest Group PLC  | 1567793 | 10998 |
| Barclays PLC  | 2131791 | 10883 |
| Japan Post Bank Co., Ltd.  | 619400 | 7600 |
| Futu Holdings, Ltd. (ADR)  | 35499 | 6174 |
| Prudential PLC  | 426506 | 5971 |
| Bank Mandiri (Persero) Tbk PT  | 7768501 | 2051 |
|  |  | 1259776 |
| **Information technology 13.82%** |  |  |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 9788936 | 419141 |
| ASML Holding NV  | 131045 | 127406 |
| Tokyo Electron, Ltd.  | 654898 | 116733 |
| SAP SE  | 424844 | 113674 |
| SK hynix, Inc.  | 426081 | 105530 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 350337 | 52064 |
| Samsung Electronics Co., Ltd.  | 469145 | 28054 |
| ARM Holdings PLC (ADR) <sup>(a)</sup>  | 186249 | 26352 |
| Xiaomi Corp., Class B <sup>(a)</sup>  | 1647800 | 11434 |
| Infineon Technologies AG  | 245474 | 9568 |
| Elite Material Co., Ltd.  | 204762 | 8230 |
| NEC Corp.  | 244075 | 7822 |
| Renesas Electronics Corp.  | 608100 | 7015 |
| Canva Australia Holdings Pty, Ltd. <sup>(a)(b)(c)</sup>  | 4819 | 6168 |
| Tata Consultancy Services, Ltd.  | 153121 | 4981 |
|  |  | 1044172 |
| **Communication services 11.24%** |  |  |
| SoftBank Group Corp.  | 2896141 | 365922 |
| Tencent Holdings, Ltd.  | 1814961 | 154630 |
| Bharti Airtel, Ltd.  | 4448767 | 94117 |
| Deutsche Telekom AG  | 2581238 | 87915 |
| Nintendo Co., Ltd.  | 536800 | 46480 |
| Universal Music Group NV  | 1075413 | 31009 |
| Singapore Telecommunications, Ltd.  | 7093100 | 22710 |
| NetEase, Inc.  | 734816 | 22360 |
| Spotify Technology SA <sup>(a)</sup>  | 22165 | 15471 |
| Advanced Info Service PCL, foreign registered shares  | 940662 | 8438 |
|  |  | 849052 |
| **Materials 10.51%** |  |  |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 14456903 | 327012 |
| Ivanhoe Mines, Ltd., Class A <sup>(a)</sup>  | 8609925 | 91315 |
| Ivanhoe Mines, Ltd., Class A <sup>(a)(c)</sup>  | 3675281 | 38979 |
| Grupo Mexico, SAB de CV, Series B  | 8937237 | 77946 |
| Nitto Denko Corp.  | 3049655 | 72527 |
| Nippon Steel Corp. <sup>(d)</sup>  | 9999000 | 41210 |
| Shin-Etsu Chemical Co., Ltd.  | 1206511 | 39593 |
| Air Liquide SA  | 118039 | 24510 |
| Anglo American PLC  | 439463 | 16460 |
| Antofagasta PLC  | 423549 | 15671 |
| Smurfit Westrock PLC  | 282832 | 12040 |
| Nippon Sanso Holdings Corp.  | 320136 | 11358 |
| Wheaton Precious Metals Corp.  | 88388 | 9885 |
| Akzo Nobel NV  | 100918 | 7180 |

---

American Funds Insurance Series — Page 23 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Materials (continued)**<br>| Shares | Value<br> (000)<br>|
| Buzzi SpA  | 94065 | $5164 |
| DSM-Firmenich AG  | 41082 | 3498 |
|  |  | 794348 |
| **Consumer discretionary 9.76%** |  |  |
| Trip.com Group, Ltd.  | 1243307 | 95222 |
| MercadoLibre, Inc. <sup>(a)</sup>  | 31937 | 74635 |
| Flutter Entertainment PLC <sup>(a)</sup>  | 210380 | 53437 |
| Maruti Suzuki India, Ltd.  | 294802 | 53220 |
| Compagnie Financiere Richemont SA, Class A  | 273347 | 52056 |
| Moncler SpA  | 845149 | 49483 |
| Prosus NV, Class N  | 684729 | 48186 |
| Ferrari NV (EUR denominated)  | 87650 | 42356 |
| Kering SA  | 115072 | 38173 |
| Sea, Ltd., Class A (ADR) <sup>(a)</sup>  | 182489 | 32616 |
| Industria de Diseno Textil SA  | 566003 | 31212 |
| NEXT PLC  | 171389 | 28525 |
| Hyundai Motor Co.  | 162486 | 24899 |
| Midea Group Co., Ltd., Class A  | 2218700 | 22647 |
| Galaxy Entertainment Group, Ltd.  | 3436815 | 18937 |
| Shimano, Inc.  | 101600 | 11405 |
| adidas AG  | 49748 | 10478 |
| Fast Retailing Co., Ltd.  | 33500 | 10203 |
| Aristocrat Leisure, Ltd.  | 207779 | 9621 |
| ANTA Sports Products, Ltd.  | 757910 | 9106 |
| H World Group, Ltd. (ADR)  | 184250 | 7206 |
| Coupang, Inc., Class A <sup>(a)</sup>  | 205714 | 6624 |
| Hermes International  | 1637 | 4003 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 5799 | 3544 |
|  |  | 737794 |
| **Health care 6.21%** |  |  |
| Daiichi Sankyo Co., Ltd.  | 6115420 | 137084 |
| Sanofi  | 1031840 | 95158 |
| Novo Nordisk AS, Class B  | 1679023 | 91015 |
| Eurofins Scientific SE, non-registered shares  | 584238 | 42376 |
| Zealand Pharma AS <sup>(a)</sup>  | 463564 | 33619 |
| AstraZeneca PLC  | 185720 | 27930 |
| Alcon, Inc.  | 199407 | 14844 |
| EssilorLuxottica SA  | 36064 | 11686 |
| Sandoz Group AG  | 186516 | 11052 |
| Ambu AS, Class B, non-registered shares  | 288452 | 4201 |
|  |  | 468965 |
| **Consumer staples 5.22%** |  |  |
| British American Tobacco PLC  | 2642173 | 140255 |
| Danone SA  | 740649 | 64486 |
| L'Oreal SA, non-registered shares  | 125654 | 54363 |
| Ajinomoto Co., Inc.  | 1499159 | 43043 |
| Marks and Spencer Group PLC  | 7076189 | 34689 |
| JBS NV (BDR) <sup>(a)</sup>  | 1755449 | 26251 |
| Avenue Supermarts, Ltd. <sup>(a)</sup>  | 262709 | 13242 |

---

American Funds Insurance Series — Page 24 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Consumer staples (continued)**<br>| Shares | Value<br> (000)<br>|
| Kweichow Moutai Co., Ltd., Class A  | 57352 | $11634 |
| Imperial Brands PLC  | 154891 | 6578 |
|  |  | 394541 |
| **Energy 4.84%** |  |  |
| Reliance Industries, Ltd.  | 10913015 | 167649 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 4084110 | 130591 |
| Cenovus Energy, Inc. (CAD denominated)  | 2938077 | 49886 |
| Shell PLC (GBP denominated)  | 316792 | 11276 |
| Neste OYJ  | 354380 | 6484 |
|  |  | 365886 |
| **Utilities 1.64%** |  |  |
| Gulf Development PCL  | 33780589 | 45294 |
| E.ON SE  | 1586206 | 29824 |
| Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP, ordinary nominative shares  | 760600 | 18888 |
| Engie SA  | 791642 | 16967 |
| SembCorp Industries, Ltd.  | 2815100 | 13138 |
|  |  | 124111 |
| **Total common stocks** (cost: $4,986,837,000) |  | 7330546 |
| Preferred securities 0.45%<br> **Financials 0.44%**<br>|  |  |
| Itau Unibanco Holding SA, preferred nominative shares  | 4517440 | 33162 |
| **Information technology 0.01%** |  |  |
| Canva Australia Holdings Pty, Ltd., Series A, noncumulative preferred shares <sup>(a)(b)(c)</sup>  | 422 | 540 |
| Canva Australia Holdings Pty, Ltd., Series A-3, noncumulative preferred shares <sup>(a)(b)(c)</sup>  | 18 | 23 |
| Canva Australia Holdings Pty, Ltd., Series A-4, noncumulative preferred shares <sup>(a)(b)(c)</sup>  | 1 | 2 |
|  |  | 565 |
| **Total preferred securities** (cost: $27,145,000) |  | 33727 |
| Rights & warrants 0.00%<br> **Information technology 0.00%**<br>|  |  |
| Constellation Software, Inc., warrants, expire 3/31/2040 <sup>(a)(b)</sup>  | 7730 | — <br><sup>(e)</sup><br>|
| **Total rights & warrants** (cost: $0) |  | — <br><sup>(e)</sup><br>|
| Short-term securities 2.13%<br> **Money market investments 2.13%**<br>|  |  |
| Capital Group Central Cash Fund 4.17% <sup>(f)(g)</sup>  | 1609800 | 160980 |
| **Total short-term securities** (cost: $160,976,000) |  | 160980 |
| **Total investment securities 99.59%** (cost: $5,174,958,000) |  | 7525253 |
| **Other assets less liabilities 0.41%** |  | 31211 |
| **Net assets 100.00%** |  | $7556464 |

---

American Funds Insurance Series — Page 25 of 319

------

**unaudited**

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 2.13%** | **Short-term securities 2.13%** | **Short-term securities 2.13%** | **Short-term securities 2.13%** | **Short-term securities 2.13%** | **Short-term securities 2.13%** | **Short-term securities 2.13%** | **Short-term securities 2.13%** |
| **Money market investments 2.13%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(f)</sup> <br>| $396476 | &nbsp;&nbsp; $1228235 | &nbsp;&nbsp; $1463650 | &nbsp;&nbsp; $(40)<br>| &nbsp;&nbsp; $(41)<br>| &nbsp;&nbsp; $160980 | &nbsp;&nbsp; $9661 |
| **Money market investments purchased with collateral** <br>**from securities on loan 0.00%**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(f)</sup> <br>| 1000 |  | &nbsp;&nbsp; 1000 <br><sup>(h)</sup><br>|  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(i)</sup><br>|
| **Total 2.13%** |  |  |  | &nbsp;&nbsp; $(40)<br>| &nbsp;&nbsp; $(41)<br>| &nbsp;&nbsp; $160980 | &nbsp;&nbsp; $9661 |

---

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

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Ivanhoe Mines, Ltd., Class A <sup>(a)</sup> <br>| 12/18/2023 | $32962 | $38979 | 0.51<br> %<br>|
| Canva Australia Holdings Pty, Ltd. <sup>(a)(b)</sup> <br>| 8/26/2021-11/04/2021 | 8215 | 6168 | 0.08 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canva Australia Holdings Pty, Ltd., Series A, noncumulative <br> preferred shares <sup>(a)(b)</sup> <br>| 11/4/2021 | 719 | 540 | 0.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canva Australia Holdings Pty, Ltd., Series A-3, noncumulative <br> preferred shares <sup>(a)(b)</sup> <br>| 11/4/2021 | 31 | 23 | 0.00 <br><sup>(j)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canva Australia Holdings Pty, Ltd., Series A-4, noncumulative <br> preferred shares <sup>(a)(b)</sup> <br>| 11/4/2021 | 2 | 2 | 0.00 <br><sup>(j)</sup><br>|
| **Total** |  | $41929 | $45712 | 0.60<br> %<br>|

---

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

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

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

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

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

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

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

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

<sup>(h)</sup> Represents net activity. 

<sup>(i)</sup> Dividend income is included with securities lending income and is not shown in this table.

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

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| BDR = Brazilian Depositary Receipts |
| CAD = Canadian dollars |
| CDI = CREST Depository Interest  |
| EUR = Euros |
| GBP = British pounds |

---

American Funds Insurance Series — Page 26 of 319

------

**New World Fund**<sup>®</sup>

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 92.26%<br> **Information technology 19.57%**<br>| Shares | Value<br> (000)<br>|
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 6603269 | $282737 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 11746 | 3281 |
| Microsoft Corp.  | 156060 | 80831 |
| SK hynix, Inc.  | 260469 | 64512 |
| Broadcom, Inc.  | 191163 | 63067 |
| NVIDIA Corp.  | 303800 | 56683 |
| ASML Holding NV  | 24762 | 24074 |
| ASML Holding NV (ADR)  | 7593 | 7351 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 85817 | 18415 |
| Tokyo Electron, Ltd.  | 100100 | 17842 |
| KLA Corp.  | 16423 | 17714 |
| SAP SE  | 39474 | 10562 |
| SAP SE (ADR) <sup>(b)</sup>  | 4295 | 1147 |
| Elite Material Co., Ltd.  | 229800 | 9236 |
| Samsung Electronics Co., Ltd.  | 144484 | 8640 |
| MediaTek, Inc.  | 197000 | 8500 |
| Synopsys, Inc. <sup>(a)</sup>  | 17075 | 8425 |
| Capgemini SE  | 57509 | 8342 |
| Apple, Inc.  | 28996 | 7383 |
| E Ink Holdings, Inc.  | 780000 | 6155 |
| Oracle Corp.  | 21311 | 5993 |
| Intel Corp. <sup>(a)</sup>  | 176381 | 5918 |
| Xiaomi Corp., Class B <sup>(a)</sup>  | 803600 | 5576 |
| Jentech Precision Industrial Co., Ltd.  | 61148 | 5077 |
| Keyence Corp.  | 11400 | 4254 |
| eMemory Technology, Inc.  | 59000 | 3901 |
| Micron Technology, Inc.  | 21422 | 3584 |
| TDK Corp.  | 236800 | 3440 |
| Advantech Co., Ltd.  | 315000 | 3297 |
| Corning, Inc.  | 31136 | 2554 |
| Gold Circuit Electronics, Ltd.  | 172000 | 2458 |
| ASM International NV  | 3935 | 2360 |
| Credo Technology Group Holding, Ltd. <sup>(a)</sup>  | 14413 | 2099 |
| Globant SA <sup>(a)</sup>  | 36165 | 2075 |
| Unity Software, Inc. <sup>(a)</sup>  | 46938 | 1879 |
| Coforge, Ltd.  | 100293 | 1797 |
| EPAM Systems, Inc. <sup>(a)</sup>  | 9693 | 1462 |
| HCL Technologies, Ltd.  | 92342 | 1440 |
| Tata Consultancy Services, Ltd.  | 40821 | 1328 |
| LITE-ON Technology Corp.  | 207000 | 1172 |
| ASE Technology Holding Co., Ltd.  | 100000 | 538 |
| Canva Australia Holdings Pty, Ltd. <sup>(a)(c)(d)</sup>  | 385 | 493 |
| Disco Corp.  | 1400 | 440 |
|  |  | 768032 |

---

American Funds Insurance Series — Page 27 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials 16.71%**<br>| Shares | Value<br> (000)<br>|
| Nu Holdings, Ltd., Class A <sup>(a)</sup>  | 3089834 | $49468 |
| Banco Bilbao Vizcaya Argentaria SA  | 2011475 | 38588 |
| Mastercard, Inc., Class A  | 44573 | 25354 |
| KB Financial Group, Inc.  | 302633 | 24913 |
| Standard Chartered PLC  | 1286342 | 24834 |
| UniCredit SpA  | 308421 | 23345 |
| Abu Dhabi Islamic Bank PJSC  | 3720478 | 22061 |
| Capitec Bank Holdings, Ltd.  | 105713 | 21265 |
| HDFC Bank, Ltd.  | 1828526 | 19585 |
| Kotak Mahindra Bank, Ltd.  | 852337 | 19129 |
| XP, Inc., Class A  | 947172 | 17797 |
| AIA Group, Ltd.  | 1814200 | 17403 |
| Al Rajhi Banking and Investment Corp., non-registered shares  | 540636 | 15454 |
| Eurobank Ergasias Services and Holdings SA  | 4007692 | 15443 |
| PICC Property and Casualty Co., Ltd., Class H  | 6528947 | 14733 |
| PB Fintech, Ltd. <sup>(a)</sup>  | 748408 | 14346 |
| Hana Financial Group, Inc.  | 229811 | 14283 |
| ICICI Bank, Ltd.  | 596689 | 9059 |
| ICICI Bank, Ltd. (ADR)  | 158364 | 4787 |
| Cholamandalam Investment and Finance Co., Ltd.  | 763001 | 13842 |
| Banco Santander SA  | 1266689 | 13197 |
| Visa, Inc., Class A  | 35218 | 12023 |
| B3 SA - Brasil, Bolsa, Balcao  | 3890498 | 9795 |
| Grupo Financiero Banorte, SAB de CV, Series O  | 950413 | 9574 |
| National Bank of Greece SA  | 645998 | 9378 |
| Hong Kong Exchanges and Clearing, Ltd.  | 152400 | 8656 |
| Woori Financial Group, Inc.  | 453994 | 8397 |
| Emirates NBD Bank PJSC  | 1209547 | 8002 |
| Credicorp, Ltd.  | 29516 | 7860 |
| Brookfield Corp., Class A  | 113362 | 7774 |
| Futu Holdings, Ltd. (ADR)  | 43887 | 7632 |
| People's Insurance Co. (Group) of China, Ltd. (The), Class H  | 8526000 | 7461 |
| AU Small Finance Bank, Ltd.  | 871394 | 7178 |
| Bank Mandiri (Persero) Tbk PT  | 27180900 | 7177 |
| Banco BTG Pactual SA, units  | 715906 | 6492 |
| Commercial International Bank - Egypt (CIB) SAE (GDR)  | 2502880 | 5056 |
| Commercial International Bank - Egypt (CIB) SAE  | 644623 | 1361 |
| Bank of the Philippine Islands  | 3172748 | 6269 |
| Bajaj Finance, Ltd.  | 527424 | 5934 |
| Samsung Life Insurance Co., Ltd.  | 52064 | 5811 |
| Saudi Awwal Bank SJSC, non-registered shares  | 673142 | 5758 |
| Saudi National Bank (The)  | 548371 | 5729 |
| China Merchants Bank Co., Ltd., Class H  | 827500 | 4972 |
| China Merchants Bank Co., Ltd., Class A  | 120400 | 684 |
| Axis Bank, Ltd.  | 443191 | 5648 |
| HSBC Holdings PLC (GBP denominated)  | 378725 | 5323 |
| Shriram Finance, Ltd.  | 714134 | 4955 |
| Prudential PLC  | 340961 | 4774 |
| Aon PLC, Class A  | 12683 | 4523 |
| BSE, Ltd.  | 190020 | 4366 |
| Vietnam Technological and Commercial JSCB (The)  | 2716600 | 3890 |
| Ping An Insurance (Group) Co. of China, Ltd., Class H  | 556044 | 3791 |
| Kasikornbank PCL, foreign registered shares  | 664000 | 3428 |
| Abu Dhabi Commercial Bank PJSC  | 862177 | 3422 |
| Samsung Fire & Marine Insurance Co., Ltd.  | 10308 | 3317 |

---

American Funds Insurance Series — Page 28 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials (continued)**<br>| Shares | Value<br> (000)<br>|
| Central Depository Services (India), Ltd.  | 187676 | $3083 |
| Bank Central Asia Tbk PT  | 6510823 | 2979 |
| S&P Global, Inc.  | 5748 | 2798 |
| Akbank TAS  | 1762454 | 2658 |
| Discovery, Ltd.  | 193692 | 2210 |
| Kaspi.kz JSC (ADR)  | 26928 | 2200 |
| 360 ONE WAM, Ltd.  | 177690 | 2049 |
| Bajaj Finserv, Ltd.  | 68205 | 1541 |
| Bank of Ningbo Co., Ltd., Class A  | 404900 | 1503 |
| Wise PLC, Class A <sup>(a)</sup>  | 101638 | 1415 |
| Public Bank Bhd.  | 1302400 | 1340 |
| CVC Capital Partners PLC  | 76456 | 1330 |
| Edenred SA  | 54749 | 1299 |
| Swiss Re AG  | 6155 | 1137 |
| BDO Unibank, Inc.  | 303450 | 693 |
| Haci Omer Sabanci Holding AS  | 277306 | 579 |
| Shinhan Financial Group Co., Ltd.  | 11363 | 573 |
| Asia Commercial Joint Stock Bank  | 584970 | 564 |
| Alpha Bank SA  | 121679 | 516 |
| Sberbank of Russia PJSC <sup>(c)</sup>  | 2662164 | — <br><sup>(e)</sup><br>|
|  |  | 655763 |
| **Consumer discretionary 13.20%** |  |  |
| MercadoLibre, Inc. <sup>(a)</sup>  | 33162 | 77498 |
| Trip.com Group, Ltd. (ADR)  | 437464 | 32897 |
| Trip.com Group, Ltd.  | 417245 | 31956 |
| Alibaba Group Holding, Ltd.  | 1175972 | 26747 |
| Alibaba Group Holding, Ltd. (ADR)  | 100473 | 17958 |
| Midea Group Co., Ltd., Class A  | 2705333 | 27614 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 37696 | 23036 |
| Eicher Motors, Ltd.  | 260856 | 20582 |
| BYD Co., Ltd., Class A  | 783623 | 12022 |
| BYD Co., Ltd., Class H  | 494000 | 6996 |
| Galaxy Entertainment Group, Ltd.  | 3106000 | 17115 |
| H World Group, Ltd. (ADR)  | 350731 | 13717 |
| H World Group, Ltd.  | 244900 | 975 |
| Compagnie Financiere Richemont SA, Class A  | 66579 | 12679 |
| Maruti Suzuki India, Ltd.  | 67844 | 12248 |
| Eternal, Ltd. <sup>(a)</sup>  | 3222473 | 11814 |
| Jumbo SA  | 297902 | 10220 |
| Prosus NV, Class N  | 134814 | 9487 |
| Ferrari NV (EUR denominated)  | 19430 | 9389 |
| TVS Motor Co., Ltd.  | 192997 | 7475 |
| Vibra Energia SA  | 1572792 | 7267 |
| PDD Holdings, Inc. (ADR) <sup>(a)</sup>  | 49290 | 6515 |
| MakeMyTrip, Ltd. <sup>(a)</sup>  | 68235 | 6387 |
| Ryohin Keikaku Co., Ltd.  | 311200 | 6197 |
| Meituan, Class B <sup>(a)</sup>  | 454600 | 6105 |
| Sea, Ltd., Class A (ADR) <sup>(a)</sup>  | 33685 | 6020 |
| Sands China, Ltd.  | 2158800 | 6020 |
| Naspers, Ltd., Class N  | 16462 | 5962 |
| Wynn Resorts, Ltd.  | 43313 | 5556 |
| ANTA Sports Products, Ltd.  | 431800 | 5188 |
| Tesla, Inc. <sup>(a)</sup>  | 11300 | 5025 |
| Hyundai Motor Co.  | 32095 | 4918 |

---

American Funds Insurance Series — Page 29 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Consumer discretionary (continued)**<br>| Shares | Value<br> (000)<br>|
| Hermes International  | 1988 | $4862 |
| Booking Holdings, Inc.  | 767 | 4141 |
| Pepkor Holdings, Ltd.  | 2767318 | 3895 |
| Moncler SpA  | 64726 | 3790 |
| Royal Caribbean Cruises, Ltd.  | 10578 | 3423 |
| Coupang, Inc., Class A <sup>(a)</sup>  | 104877 | 3377 |
| Li Ning Co., Ltd.  | 1304655 | 2957 |
| Aptiv Holdings, Ltd. <sup>(a)</sup>  | 34079 | 2938 |
| Amadeus IT Group SA, Class A, non-registered shares  | 35937 | 2848 |
| Inchcape PLC  | 303859 | 2830 |
| adidas AG  | 13361 | 2814 |
| YUM! Brands, Inc.  | 17671 | 2686 |
| Mahindra & Mahindra, Ltd.  | 61396 | 2370 |
| Starbucks Corp.  | 27127 | 2295 |
| Shenzhou International Group Holdings, Ltd.  | 282500 | 2238 |
| Marriott International, Inc., Class A  | 7554 | 1967 |
| InterContinental Hotels Group PLC  | 15169 | 1831 |
| Swiggy, Ltd. <sup>(a)</sup>  | 344328 | 1640 |
| Tube Investments of India, Ltd.  | 36685 | 1279 |
| NIKE, Inc., Class B  | 17404 | 1214 |
| Industria de Diseno Textil SA  | 20878 | 1151 |
| Hyundai Mobis Co., Ltd.  | 5052 | 1075 |
| Shangri-La Asia, Ltd.  | 1774000 | 1037 |
| Renault SA  | 25328 | 1035 |
| Cyrela Brazil Realty SA, ordinary nominative shares  | 179166 | 1033 |
| Hilton Worldwide Holdings, Inc.  | 3953 | 1025 |
| Compagnie Generale des Etablissements Michelin  | 28554 | 1024 |
| Hyundai Motor India, Ltd.  | 32248 | 939 |
| Evolution AB  | 6810 | 559 |
|  |  | 517858 |
| **Industrials 12.64%** |  |  |
| Airbus SE, non-registered shares  | 246553 | 57140 |
| Rolls-Royce Holdings PLC  | 2402977 | 38458 |
| International Container Terminal Services, Inc.  | 3863810 | 31309 |
| Kanzhun, Ltd., Class A (ADR)  | 1083176 | 25303 |
| Kanzhun, Ltd., Class A  | 139100 | 1624 |
| General Aerospace Co.  | 86035 | 25881 |
| Hitachi, Ltd.  | 831500 | 22097 |
| Rumo SA  | 5916603 | 17753 |
| Copa Holdings SA, Class A  | 146703 | 17431 |
| Safran SA  | 49148 | 17316 |
| Shenzhen Inovance Technology Co., Ltd., Class A  | 1198902 | 14117 |
| Contemporary Amperex Technology Co., Ltd., Class A  | 230176 | 12999 |
| Localiza Rent a Car SA, ordinary nominative shares  | 1700041 | 12601 |
| BAE Systems PLC  | 427827 | 11847 |
| Uber Technologies, Inc. <sup>(a)</sup>  | 107683 | 10550 |
| Techtronic Industries Co., Ltd.  | 816000 | 10439 |
| Leonardo SpA  | 154671 | 9810 |
| IHI Corp.  | 508279 | 9486 |
| Motiva Infraestrutura de Mobilidade SA  | 3305336 | 9241 |
| Daikin Industries, Ltd.  | 79900 | 9228 |
| Grupo Aeroportuario del Pacifico, SAB de CV, Class B  | 349132 | 8253 |
| Grupo Aeroportuario del Pacifico, SAB de CV, Class B (ADR)  | 530 | 126 |
| TransDigm Group, Inc.  | 6267 | 8260 |

---

American Funds Insurance Series — Page 30 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Industrials (continued)**<br>| Shares | Value<br> (000)<br>|
| DSV A/S  | 40100 | $7975 |
| Aselan Elektronik Sanayi ve Ticaret AS  | 1498173 | 7747 |
| Siemens AG  | 28338 | 7626 |
| WEG SA <sup>(a)</sup>  | 1098181 | 7550 |
| Jiangsu Hengli Hydraulic Co., Ltd., Class A  | 483964 | 6511 |
| LS Electric Co., Ltd.  | 31921 | 6473 |
| Mitsui & Co., Ltd.  | 237300 | 5905 |
| Weichai Power Co., Ltd., Class A  | 1782300 | 3510 |
| Weichai Power Co., Ltd., Class H  | 947000 | 1698 |
| Full Truck Alliance Co., Ltd., Class A (ADR)  | 371698 | 4821 |
| Hanwha Aerospace Co., Ltd.  | 5476 | 4321 |
| Mitsubishi Heavy Industries, Ltd.  | 162100 | 4252 |
| Schneider Electric SE  | 14918 | 4161 |
| Larsen & Toubro, Ltd.  | 94863 | 3909 |
| SM Investments Corp.  | 259310 | 3275 |
| Carrier Global Corp.  | 52454 | 3131 |
| Ayala Corp.  | 336470 | 2791 |
| InPost SA <sup>(a)</sup>  | 210383 | 2581 |
| Wizz Air Holdings PLC <sup>(a)</sup>  | 164853 | 2561 |
| AGCO Corp.  | 23824 | 2551 |
| International Consolidated Airlines Group SA (CDI)  | 463348 | 2406 |
| GT Capital Holdings, Inc.  | 239920 | 2372 |
| Embraer SA  | 143323 | 2162 |
| Bureau Veritas SA  | 67515 | 2112 |
| Ingersoll-Rand, Inc.  | 25377 | 2097 |
| GE Vernova, Inc.  | 2861 | 1759 |
| Turk Hava Yollari Anonim Ortakligi, non-registered shares  | 218606 | 1656 |
| Boeing Co. (The) <sup>(a)</sup>  | 7510 | 1621 |
| Airports of Thailand PCL, foreign registered shares  | 1080600 | 1349 |
| IMCD NV  | 12384 | 1279 |
| Legrand SA  | 7279 | 1202 |
| Epiroc AB, Class B  | 54511 | 1027 |
| Haitian International Holdings, Ltd.  | 154146 | 425 |
|  |  | 496085 |
| **Communication services 9.77%** |  |  |
| Tencent Holdings, Ltd.  | 1345001 | 114590 |
| Meta Platforms, Inc., Class A  | 68690 | 50445 |
| Bharti Airtel, Ltd.  | 1986488 | 42026 |
| Bharti Airtel, Ltd., interim shares  | 51552 | 817 |
| NetEase, Inc.  | 1163400 | 35402 |
| Alphabet, Inc., Class C  | 70890 | 17265 |
| Alphabet, Inc., Class A  | 39441 | 9588 |
| MTN Group, Ltd.  | 2684022 | 22535 |
| Netflix, Inc. <sup>(a)</sup>  | 11097 | 13304 |
| KT Corp. (ADR)  | 656366 | 12799 |
| Tencent Music Entertainment Group, Class A (ADR)  | 501327 | 11701 |
| America Movil, SAB de CV, Class B (ADR)  | 534105 | 11216 |
| Telkom Indonesia (Persero) Tbk PT, Class B  | 42757400 | 7851 |
| True Corp. PCL, foreign registered shares <sup>(a)</sup>  | 23012986 | 7377 |
| Spotify Technology SA <sup>(a)</sup>  | 10303 | 7192 |
| Baidu, Inc., Class A (ADR) <sup>(a)</sup>  | 47866 | 6307 |
| Orange  | 301138 | 4883 |
| TIM SA  | 818493 | 3614 |
| Advanced Info Service PCL, foreign registered shares  | 248500 | 2229 |

---

American Funds Insurance Series — Page 31 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Communication services (continued)**<br>| Shares | Value<br> (000)<br>|
| Singapore Telecommunications, Ltd.  | 557100 | $1784 |
| JCDecaux SE  | 29834 | 535 |
|  |  | 383460 |
| **Materials 5.65%** |  |  |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 1699428 | 38441 |
| Barrick Mining Corp.  | 671857 | 22017 |
| Grupo Mexico, SAB de CV, Series B  | 2056817 | 17938 |
| Linde PLC  | 36568 | 17370 |
| Vale SA, ordinary nominative shares  | 1001751 | 10838 |
| Vale SA (ADR), ordinary nominative shares  | 524729 | 5698 |
| Glencore PLC  | 2504072 | 11504 |
| APL Apollo Tubes, Ltd.  | 554649 | 10533 |
| Amcor PLC (CDI)  | 963326 | 7834 |
| Valterra Platinum, Ltd. (ZAR denominated)  | 108208 | 7740 |
| Nitto Denko Corp.  | 321500 | 7646 |
| BASF SE  | 141057 | 7020 |
| Anhui Conch Cement Co., Ltd., Class H  | 1825000 | 5511 |
| Saudi Basic Industries Corp., non-registered shares  | 281790 | 4625 |
| Zijin Gold International Co., Ltd. <sup>(a)</sup>  | 281800 | 4367 |
| Nutrien, Ltd. (CAD denominated)  | 70231 | 4124 |
| Impala Platinum Holdings, Ltd.  | 303087 | 3871 |
| Southern Copper Corp.  | 31386 | 3809 |
| Sika AG  | 16065 | 3574 |
| Ivanhoe Mines, Ltd., Class A <sup>(a)</sup>  | 330411 | 3504 |
| Nippon Steel Corp.  | 739500 | 3048 |
| Freeport-McMoRan, Inc.  | 77402 | 3036 |
| Wheaton Precious Metals Corp. (CAD denominated)  | 26158 | 2927 |
| Siam Cement PCL, foreign registered shares  | 354100 | 2510 |
| Corteva, Inc.  | 29522 | 1997 |
| Antofagasta PLC  | 45633 | 1688 |
| Asian Paints, Ltd.  | 63269 | 1675 |
| Loma Negra Compania Industrial Argentina SA (ADR) <sup>(a)</sup>  | 212030 | 1563 |
| Akzo Nobel NV  | 20703 | 1473 |
| SRF, Ltd.  | 41937 | 1334 |
| Syensqo SA  | 15030 | 1212 |
| Arkema SA  | 14823 | 933 |
| Gerdau SA (ADR)  | 55796 | 173 |
| Alrosa PJSC <sup>(c)</sup>  | 1123215 | — <br><sup>(e)</sup><br>|
|  |  | 221533 |
| **Health care 5.13%** |  |  |
| Novo Nordisk AS, Class B  | 572302 | 31023 |
| Max Healthcare Institute, Ltd.  | 2433203 | 30548 |
| Laurus Labs, Ltd.  | 1856977 | 17606 |
| Thermo Fisher Scientific, Inc.  | 30233 | 14664 |
| Eli Lilly and Co.  | 18057 | 13777 |
| AstraZeneca PLC  | 81125 | 12200 |
| BeOne Medicines, Ltd. (ADR) <sup>(a)</sup>  | 30195 | 10287 |
| BeOne Medicines, Ltd. <sup>(a)</sup>  | 36200 | 955 |
| Jiangsu Hengrui Pharmaceutical Co., Ltd., Class A  | 866288 | 8707 |
| Jiangsu Hengrui Pharmaceutical Co., Ltd., Class H <sup>(a)</sup>  | 184800 | 2109 |
| Rede D'Or Sao Luiz SA  | 1320943 | 10444 |
| Innovent Biologics, Inc. <sup>(a)</sup>  | 675873 | 8372 |
| Abbott Laboratories  | 44758 | 5995 |

---

American Funds Insurance Series — Page 32 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Health care (continued)**<br>| Shares | Value<br> (000)<br>|
| Zai Lab, Ltd. (ADR) <sup>(a)(b)</sup>  | 174660 | $5919 |
| EssilorLuxottica SA  | 15573 | 5046 |
| Danaher Corp.  | 18681 | 3704 |
| OdontoPrev SA  | 1320175 | 3284 |
| Teva Pharmaceutical Industries, Ltd. (ADR) <sup>(a)</sup>  | 133206 | 2691 |
| bioMerieux SA  | 16481 | 2202 |
| Lupin, Ltd.  | 85261 | 1835 |
| Mankind Pharma, Ltd.  | 62374 | 1711 |
| WuXi AppTec Co., Ltd., Class H  | 107700 | 1643 |
| Mettler-Toledo International, Inc. <sup>(a)</sup>  | 1181 | 1450 |
| Alcon, Inc.  | 17457 | 1300 |
| Wuxi Biologics (Cayman), Inc. <sup>(a)</sup>  | 240500 | 1266 |
| Medtronic PLC  | 12711 | 1211 |
| Asahi Intecc Co., Ltd.  | 71500 | 1161 |
| CanSino Biologics, Inc., Class H <sup>(a)</sup>  | 35921 | 228 |
|  |  | 201338 |
| **Consumer staples 4.80%** |  |  |
| Kweichow Moutai Co., Ltd., Class A  | 139770 | 28353 |
| Nestle SA  | 263104 | 24150 |
| Arca Continental, SAB de CV  | 1023525 | 10732 |
| ITC, Ltd.  | 2038456 | 9219 |
| JBS NV (BDR) <sup>(a)</sup>  | 605588 | 9056 |
| Avenue Supermarts, Ltd. <sup>(a)</sup>  | 161740 | 8152 |
| Carlsberg A/S, Class B  | 59570 | 6922 |
| Anheuser-Busch InBev SA/NV  | 110064 | 6564 |
| Shoprite Holdings, Ltd.  | 411098 | 6523 |
| Dino Polska SA, non-registered shares <sup>(a)</sup>  | 520880 | 6270 |
| Raia Drogasil SA, ordinary nominative shares  | 1574331 | 5449 |
| Tsingtao Brewery Co., Ltd., Class H  | 764634 | 5208 |
| KT&G Corp.  | 52566 | 5005 |
| Ajinomoto Co., Inc.  | 171598 | 4927 |
| Philip Morris International, Inc.  | 28901 | 4688 |
| Budweiser Brewing Co., APAC, Ltd. <sup>(b)</sup>  | 3732500 | 3971 |
| Masan Group Corp. <sup>(a)</sup>  | 1166500 | 3575 |
| BBB Foods, Inc., Class A <sup>(a)</sup>  | 125631 | 3387 |
| Monster Beverage Corp. <sup>(a)</sup>  | 47777 | 3216 |
| United Spirits, Ltd.  | 212781 | 3174 |
| British American Tobacco PLC  | 55462 | 2944 |
| Constellation Brands, Inc., Class A  | 21080 | 2839 |
| Pernod Ricard SA  | 28822 | 2827 |
| L'Oreal SA, non-registered shares  | 6370 | 2756 |
| Mondelez International, Inc., Class A  | 39313 | 2456 |
| Danone SA  | 26928 | 2344 |
| Kimberly-Clark de Mexico, SAB de CV, Class A, ordinary participation certificates  | 1092354 | 2311 |
| Varun Beverages, Ltd.  | 439688 | 2197 |
| WH Group, Ltd.  | 1763000 | 1910 |
| Godrej Consumer Products, Ltd.  | 133321 | 1752 |
| Coca-Cola Co.  | 24379 | 1617 |
| Dabur India, Ltd.  | 279582 | 1547 |
| Walmart, Inc.  | 12879 | 1327 |
| JD Health International, Inc. <sup>(a)</sup>  | 107650 | 920 |
|  |  | 188288 |

---

American Funds Insurance Series — Page 33 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Energy 2.07%**<br>| Shares | Value<br> (000)<br>|
| Reliance Industries, Ltd.  | 1076785 | $16542 |
| TotalEnergies SE  | 194674 | 11823 |
| Adnoc Gas PLC  | 11621620 | 11201 |
| ADNOC Drilling Co. PJSC  | 6420955 | 9842 |
| Vista Energy, SAB de CV, Class A (ADR) <sup>(a)</sup>  | 187759 | 6459 |
| Petroleo Brasileiro SA PETROBRAS (ADR), ordinary nominative shares  | 431737 | 5466 |
| Schlumberger NV  | 153393 | 5272 |
| Galp Energia, SGPS, SA, Class B  | 243804 | 4608 |
| Cheniere Energy, Inc.  | 17049 | 4006 |
| Shell PLC (GBP denominated)  | 90692 | 3228 |
| Chevron Corp.  | 15884 | 2467 |
| Borr Drilling, Ltd. <sup>(a)</sup>  | 149981 | 403 |
| Rosneft Oil Co. PJSC <sup>(c)</sup>  | 588661 | — <br><sup>(e)</sup><br>|
|  |  | 81317 |
| **Real estate 1.47%** |  |  |
| Lodha Developers, Ltd.  | 2312569 | 29583 |
| China Resources Mixc Lifestyle Services, Ltd.  | 1957600 | 10399 |
| China Resources Land, Ltd.  | 1274000 | 4974 |
| Emaar Properties PJSC  | 1115023 | 3962 |
| CK Asset Holdings, Ltd.  | 741500 | 3594 |
| SM Prime Holdings, Inc.  | 7050000 | 2719 |
| KE Holdings, Inc., Class A (ADR)  | 65136 | 1238 |
| Longfor Group Holdings, Ltd. <sup>(b)</sup>  | 336846 | 514 |
| Fibra Uno Administracion REIT, SA de CV  | 299891 | 442 |
| ALLOS SA, ordinary nominative shares  | 60765 | 295 |
|  |  | 57720 |
| **Utilities 1.25%** |  |  |
| Power Grid Corp. of India, Ltd.  | 3442979 | 10867 |
| Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP, ordinary nominative shares  | 410007 | 10182 |
| Gulf Development PCL  | 7550993 | 10125 |
| Equatorial Energia SA, ordinary nominative shares  | 1115076 | 7741 |
| SembCorp Industries, Ltd.  | 1194800 | 5576 |
| CPFL Energia SA  | 254682 | 1885 |
| Torrent Power, Ltd.  | 94076 | 1292 |
| AES Corp.  | 67050 | 882 |
| Engie SA  | 23878 | 512 |
|  |  | 49062 |
| **Total common stocks** (cost: $2,152,952,000) |  | 3620456 |
| Preferred securities 0.75%<br> **Financials 0.32%**<br>|  |  |
| Itau Unibanco Holding SA (ADR), preferred nominative shares  | 1275532 | 9363 |
| Itau Unibanco Holding SA, preferred nominative shares  | 426656 | 3132 |
|  |  | 12495 |
| **Real estate 0.21%** |  |  |
| QuintoAndar, Ltd., Series E, preference shares <sup>(a)(c)(d)</sup>  | 32657 | 6722 |
| QuintoAndar, Ltd., Series E-1, preference shares <sup>(a)(c)(d)</sup>  | 8400 | 1729 |
|  |  | 8451 |

---

American Funds Insurance Series — Page 34 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Preferred securities (continued)<br> **Information technology 0.17%**<br>| Shares | Value<br> (000)<br>|
| Samsung Electronics Co., Ltd., nonvoting preferred shares  | 140739 | $6660 |
| Canva Australia Holdings Pty, Ltd., Series A, noncumulative preferred shares <sup>(a)(c)(d)</sup>  | 34 | 44 |
| Canva Australia Holdings Pty, Ltd., Series A-3, noncumulative preferred shares <sup>(a)(c)(d)</sup>  | 1 | 1 |
|  |  | 6705 |
| **Consumer discretionary 0.05%** |  |  |
| Dr. Ing. h.c. F. Porsche AG, nonvoting non-registered preferred shares <sup>(b)</sup>  | 35578 | 1724 |
| TVS Motor Co., Ltd., 6.00% preferred shares <sup>(a)</sup>  | 915260 | 103 |
| Getir BV, Series D, preferred shares <sup>(a)(c)(d)</sup>  | 7768 | — <br><sup>(e)</sup><br>|
|  |  | 1827 |
| **Total preferred securities** (cost: $28,520,000) |  | 29478 |
| Bonds, notes & other debt instruments 3.23%<br> **Bonds & notes of governments & government agencies outside the U.S. 2.87%**<br> **Brazil 0.58%**<br>| Principal amount<br> (000)<br>|  |
| Brazil (Federative Republic of) 10.00% 1/1/2027  | BRL16,913 | 3039 |
| Brazil (Federative Republic of) 6.00% 5/15/2027 <sup>(f)</sup> <br>| 26620 | 4804 |
| Brazil (Federative Republic of) 10.00% 1/1/2029  | 11185 | 1929 |
| Brazil (Federative Republic of) 10.00% 1/1/2031  | 11625 | 1910 |
| Brazil (Federative Republic of) 6.00% 8/15/2032 <sup>(f)</sup> <br>| 3304 | 565 |
| Brazil (Federative Republic of) 10.00% 1/1/2033  | 16543 | 2620 |
| Brazil (Federative Republic of) 10.00% 1/1/2035  | 44300 | 6811 |
| Brazil (Federative Republic of) 6.00% 8/15/2050 <sup>(f)</sup> <br>| 7572 | 1230 |
|  |  | 22908 |
| **Mexico 0.38%** |  |  |
| Eagle Funding LuxCo SARL 5.50% 8/17/2030 <sup>(g)</sup> <br>| USD960 | 975 |
| United Mexican States 6.875% 5/13/2037  | 610 | 659 |
| United Mexican States 5.125% 3/19/2038  | EUR420 | 506 |
| United Mexican States 4.75% 3/8/2044  | USD800 | 667 |
| United Mexican States 3.75% 4/19/2071  | 200 | 122 |
| United Mexican States, Series M20, 8.50% 5/31/2029  | MXN29,350 | 1624 |
| United Mexican States, Series M, 7.75% 5/29/2031  | 56500 | 3009 |
| United Mexican States, Series M, 7.50% 5/26/2033  | 36500 | 1884 |
| United Mexican States, Series M, 7.75% 11/23/2034  | 38324 | 1982 |
| United Mexican States, Series M30, 8.50% 11/18/2038  | 21600 | 1135 |
| United Mexican States, Series M, 7.75% 11/13/2042  | 20000 | 951 |
| United Mexican States, Series M, 8.00% 7/31/2053  | 26949 | 1282 |
|  |  | 14796 |
| **China 0.15%** |  |  |
| China (People's Republic of), Series INBK, 2.27% 5/25/2034  | CNY5,610 | 815 |
| China (People's Republic of), Series INBK, 3.72% 4/12/2051  | 23270 | 4214 |
| China (People's Republic of), Series INBK, 3.12% 10/25/2052  | 1250 | 206 |
| China (People's Republic of), Series INBK, 2.57% 5/20/2054  | 4480 | 670 |
|  |  | 5905 |
| **South Africa 0.15%** |  |  |
| South Africa (Republic of) 7.10% 11/19/2036 <sup>(g)</sup> <br>| USD200 | 209 |
| South Africa (Republic of) 11.625% 3/31/2053  | ZAR22,337 | 1466 |
| South Africa (Republic of), Series R-213, 7.00% 2/28/2031  | 482 | 27 |
| South Africa (Republic of), Series R-2032, 8.25% 3/31/2032  | 11495 | 657 |
| South Africa (Republic of), Series R-2035, 8.875% 2/28/2035  | 17388 | 989 |

---

American Funds Insurance Series — Page 35 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Bonds & notes of governments & government agencies outside the U.S. (continued)**<br> **South Africa (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| South Africa (Republic of), Series R-2040, 9.00% 1/31/2040  | ZAR32,571 | $1728 |
| South Africa (Republic of), Series R-2044, 8.75% 1/31/2044  | 15670 | 790 |
|  |  | 5866 |
| **Colombia 0.15%** |  |  |
| Colombia (Republic of) 3.25% 4/22/2032  | USD700 | 594 |
| Colombia (Republic of) 8.50% 4/25/2035  | 400 | 444 |
| Colombia (Republic of) 8.00% 11/14/2035  | 200 | 215 |
| Colombia (Republic of) 5.20% 5/15/2049  | 755 | 569 |
| Colombia (Republic of), Series B, 7.00% 3/26/2031  | COP4,320,700 | 922 |
| Colombia (Republic of), Series B, 13.25% 2/9/2033  | 1734800 | 479 |
| Colombia (Republic of), Series B, 7.25% 10/18/2034  | 3187000 | 629 |
| Colombia (Republic of), Series UVR, 3.75% 2/25/2037 <sup>(f)</sup> <br>| 6870 | 557 |
| Colombia (Republic of), Series B, 9.25% 5/28/2042  | 4146300 | 865 |
| Colombia (Republic of), Series B, 7.25% 10/26/2050  | 3235300 | 533 |
|  |  | 5807 |
| **Poland 0.14%** |  |  |
| Poland (Republic of), Series 0429, 5.75% 4/25/2029  | PLN2,410 | 689 |
| Poland (Republic of), Series 10Y, 4.875% 10/4/2033  | USD560 | 568 |
| Poland (Republic of), Series 1033, 6.00% 10/25/2033  | PLN8,434 | 2434 |
| Poland (Republic of), Series 1034, 5.00% 10/25/2034  | 6920 | 1856 |
|  |  | 5547 |
| **Malaysia 0.14%** |  |  |
| Malaysia (Federation of), Series 0419, 3.828% 7/5/2034  | MYR8,766 | 2140 |
| Malaysia (Federation of), Series 0418, 4.893% 6/8/2038  | 616 | 165 |
| Malaysia (Federation of), Series 0124, 4.054% 4/18/2039  | 3245 | 802 |
| Malaysia (Federation of), Series 0519, 3.757% 5/22/2040  | 2200 | 525 |
| Malaysia (Federation of), Series 0519, 4.638% 11/15/2049  | 1030 | 270 |
| Malaysia (Federation of), Series 0120, 4.065% 6/15/2050  | 2776 | 675 |
| Malaysia (Federation of), Series 022, 5.357% 5/15/2052  | 989 | 287 |
| Malaysia (Federation of), Series 0124, 4.28% 3/23/2054  | 1255 | 312 |
| PETRONAS Capital, Ltd. 4.55% 4/21/2050 <sup>(g)</sup> <br>| USD400 | 355 |
|  |  | 5531 |
| **Turkey 0.14%** |  |  |
| Turkey (Republic of), Series 5Y, 12.60% 10/1/2025  | TRY35,060 | 844 |
| Turkey (Republic of), Series 1Y, 45.033% 4/8/2026 <sup>(h)</sup> <br>| 50000 | 1217 |
| Turkey (Republic of), Series 5Y, 9.875% 1/15/2028  | USD200 | 220 |
| Turkey (Republic of), Series 5Y, 17.30% 7/19/2028  | TRY23,445 | 401 |
| Turkey (Republic of), Series 30Y, 11.875% 1/15/2030  | USD500 | 626 |
| Turkey (Republic of), Series 10Y, 26.20% 10/5/2033  | TRY41,134 | 924 |
| Turkey (Republic of), Series 30Y, 4.875% 4/16/2043  | USD1,710 | 1271 |
|  |  | 5503 |
| **India 0.14%** |  |  |
| India (Republic of) 7.32% 11/13/2030  | INR3,480 | 41 |
| India (Republic of) 6.54% 1/17/2032  | 15620 | 176 |
| India (Republic of) 7.18% 7/24/2037  | 176070 | 2043 |
| India (Republic of) 7.09% 8/5/2054  | 280280 | 3119 |
|  |  | 5379 |

---

American Funds Insurance Series — Page 36 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Bonds & notes of governments & government agencies outside the U.S. (continued)**<br> **Indonesia 0.12%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Indonesia (Republic of) 6.625% 2/17/2037  | USD300 | $341 |
| Indonesia (Republic of), Series 82, 7.00% 9/15/2030  | IDR9,590,000 | 611 |
| Indonesia (Republic of), Series 91, 6.375% 4/15/2032  | 317000 | 20 |
| Indonesia (Republic of), Series 96, 7.00% 2/15/2033  | 16818000 | 1060 |
| Indonesia (Republic of), Series 100, 6.625% 2/15/2034  | 29553000 | 1808 |
| Indonesia (Republic of), Series 80, 7.50% 6/15/2035  | 7953000 | 515 |
| Indonesia (Republic of), Series FR106, 7.125% 8/15/2040  | 7421000 | 460 |
|  |  | 4815 |
| **Saudi Arabia 0.07%** |  |  |
| Saudi Arabia (Kingdom of) 4.875% 7/18/2033  | USD480 | 488 |
| Saudi Arabia (Kingdom of) 5.75% 1/16/2054  | 2300 | 2314 |
|  |  | 2802 |
| **Egypt 0.07%** |  |  |
| Egypt (Arab Republic of) 25.318% 8/13/2027  | EGP26,845 | 575 |
| Egypt (Arab Republic of) 6.375% 4/11/2031  | EUR100 | 113 |
| Egypt (Arab Republic of) 7.625% 5/29/2032  | USD560 | 553 |
| Egypt (Arab Republic of) 8.50% 1/31/2047  | 400 | 354 |
| Egypt (Arab Republic of) 8.875% 5/29/2050  | 755 | 683 |
| Egypt (Arab Republic of) 8.15% 11/20/2059 <sup>(g)</sup> <br>| 500 | 419 |
|  |  | 2697 |
| **Hungary 0.05%** |  |  |
| Hungary (Republic of) 2.00% 5/23/2029  | HUF255,550 | 662 |
| Hungary (Republic of) 6.25% 9/22/2032 <sup>(g)</sup> <br>| USD330 | 354 |
| MFB Magyar Fejlesztesi Bank Zartkoruen Mukodo Reszvenytarsasag 6.50% 6/29/2028  | 490 | 515 |
| MFB Magyar Fejlesztesi Bank Zartkoruen Mukodo Reszvenytarsasag 4.375% 6/27/2030  | EUR340 | 413 |
|  |  | 1944 |
| **United Arab Emirates 0.05%** |  |  |
| Abu Dhabi (Emirate of) 1.70% 3/2/2031 <sup>(g)</sup> <br>| USD200 | 179 |
| Abu Dhabi (Emirate of) 5.50% 4/30/2054  | 905 | 948 |
| Sharjah (Emirate of) 4.625% 2/13/2032  | EUR651 | 787 |
|  |  | 1914 |
| **Republic of Angola 0.04%** |  |  |
| Angola (Republic of) 9.50% 11/12/2025  | USD400 | 402 |
| Angola (Republic of) 8.25% 5/9/2028  | 600 | 604 |
| Angola (Republic of) 8.00% 11/26/2029 <sup>(g)</sup> <br>| 445 | 435 |
| Angola (Republic of) 8.75% 4/14/2032 <sup>(g)</sup> <br>| 280 | 268 |
|  |  | 1709 |
| **Thailand 0.04%** |  |  |
| Thailand (Kingdom of) 3.45% 6/17/2043  | THB40,963 | 1551 |
| **Philippines 0.04%** |  |  |
| Philippines (Republic of) 6.375% 7/27/2030  | PHP12,110 | 212 |
| Philippines (Republic of) 6.00% 8/20/2030  | 14790 | 256 |
| Philippines (Republic of) 6.75% 9/15/2032  | 25640 | 462 |

---

American Funds Insurance Series — Page 37 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Bonds & notes of governments & government agencies outside the U.S. (continued)**<br> **Philippines (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Philippines (Republic of) 6.375% 10/23/2034  | USD145 | $164 |
| Philippines (Republic of) 3.95% 1/20/2040  | 500 | 449 |
|  |  | 1543 |
| **Romania 0.04%** |  |  |
| Romania (Republic of) 5.25% 5/30/2032  | EUR450 | 529 |
| Romania (Republic of) 5.25% 5/30/2032  | 230 | 271 |
| Romania (Republic of) 2.00% 4/14/2033  | 300 | 277 |
| Romania (Republic of) 5.625% 5/30/2037  | 390 | 440 |
|  |  | 1517 |
| **Republic of Kenya 0.04%** |  |  |
| Kenya (Republic of) 6.30% 1/23/2034  | USD645 | 570 |
| Kenya (Republic of) 9.50% 3/5/2036 <sup>(g)</sup> <br>| 555 | 571 |
| Kenya (Republic of) 9.50% 3/5/2036  | 330 | 339 |
|  |  | 1480 |
| **Dominican Republic 0.04%** |  |  |
| Dominican Republic (Government of) 8.625% 4/20/2027 <sup>(g)</sup> <br>| 383 | 400 |
| Dominican Republic (Government of) 5.50% 2/22/2029 <sup>(g)</sup> <br>| 275 | 281 |
| Dominican Republic (Government of) 5.875% 1/30/2060  | 885 | 787 |
|  |  | 1468 |
| **Sultanate of Oman 0.03%** |  |  |
| Oman (Sultanate of) 6.00% 8/1/2029  | 715 | 754 |
| Oman (Sultanate of) 6.75% 1/17/2048  | 485 | 534 |
|  |  | 1288 |
| **Morocco 0.03%** |  |  |
| Morocco (Kingdom of) 5.95% 3/8/2028 <sup>(g)</sup> <br>| 255 | 265 |
| Morocco (Kingdom of) 3.875% 4/2/2029  | EUR625 | 750 |
| Morocco (Kingdom of) 4.75% 4/2/2035  | 200 | 242 |
|  |  | 1257 |
| **Federal Republic of Nigeria 0.03%** |  |  |
| Nigeria (Republic of) 7.625% 11/21/2025 <sup>(g)</sup> <br>| USD358 | 359 |
| Nigeria (Republic of) 7.625% 11/21/2025  | 342 | 343 |
| Nigeria (Republic of) 18.50% 2/21/2031  | NGN730,360 | 533 |
|  |  | 1235 |
| **Honduras 0.03%** |  |  |
| Honduras (Republic of) 6.25% 1/19/2027  | USD875 | 888 |
| Honduras (Republic of) 5.625% 6/24/2030 <sup>(g)</sup> <br>| 281 | 279 |
|  |  | 1167 |
| **Peru 0.03%** |  |  |
| Peru (Republic of) 3.00% 1/15/2034  | 225 | 196 |
| Peru (Republic of) 6.55% 3/14/2037  | 360 | 401 |
| Peru (Republic of) 3.55% 3/10/2051  | 490 | 351 |
| Peru (Republic of) 2.78% 12/1/2060  | 100 | 56 |
|  |  | 1004 |

---

American Funds Insurance Series — Page 38 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Bonds & notes of governments & government agencies outside the U.S. (continued)**<br> **Gabon 0.02%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Gabonese (Republic of) 6.625% 2/6/2031  | USD720 | $582 |
| Gabonese (Republic of) 7.00% 11/24/2031  | 500 | 402 |
|  |  | 984 |
| **Kazakhstan 0.02%** |  |  |
| Kazakhstan (Republic of) 5.50% 7/1/2037 <sup>(g)</sup> <br>| 945 | 969 |
| **Panama 0.02%** |  |  |
| Panama (Republic of) 3.75% 4/17/2026  | 100 | 100 |
| Panama (Republic of) 7.875% 3/1/2057  | 600 | 677 |
|  |  | 777 |
| **Chile 0.02%** |  |  |
| Chile (Republic of) 5.30% 11/1/2037  | CLP425,000 | 429 |
| Chile (Republic of) 4.34% 3/7/2042  | USD350 | 310 |
|  |  | 739 |
| **Czech Republic 0.02%** |  |  |
| Czech Republic 1.95% 7/30/2037  | CZK17,900 | 652 |
| **Venezuela, Bolivarian Republic of 0.02%** |  |  |
| Venezuela (Bolivarian Republic of) 9.00% 5/7/2023 <sup>(i)</sup> <br>| USD800 | 167 |
| Venezuela (Bolivarian Republic of) 8.25% 10/13/2024 <sup>(i)</sup> <br>| 180 | 37 |
| Venezuela (Bolivarian Republic of) 9.25% 5/7/2028 <sup>(i)</sup> <br>| 230 | 53 |
| Venezuela (Bolivarian Republic of) 7.00% 12/1/2028 <sup>(i)</sup> <br>| 75 | 14 |
| Venezuela (Bolivarian Republic of) 7.75% 10/13/2029 <sup>(i)</sup> <br>| 930 | 176 |
| Venezuela (Bolivarian Republic of) 6.00% 12/9/2030 <sup>(i)</sup> <br>| 805 | 144 |
| Venezuela (Bolivarian Republic of) 7.00% 3/31/2038 <sup>(i)</sup> <br>| 65 | 15 |
|  |  | 606 |
| **Mozambique 0.01%** |  |  |
| Mozambique (Republic of) 9.00% 9/15/2031  | 540 | 483 |
| **Paraguay 0.01%** |  |  |
| Paraguay (Republic of) 4.95% 4/28/2031  | 320 | 324 |
| **Supra National 0.01%** |  |  |
| Asian Development Bank 5.25% 4/29/2035  | PHP15,700 | 271 |
| **Cote d'Ivoire 0.00%** |  |  |
| Cote d'Ivoire (Republic of) 4.875% 1/30/2032  | EUR150 | 168 |
| **Total bonds & notes of governments & government agencies outside the U.S.** |  | 112606 |
| **Corporate bonds, notes & loans 0.36%**<br> **Energy 0.07%**<br>|  |  |
| GreenSaif Pipelines Bidco SARL 5.853% 2/23/2036 <sup>(g)</sup>  | USD410 | 431 |
| Oleoducto Central SA 4.00% 7/14/2027 <sup>(g)</sup>  | 255 | 251 |
| Petroleos Mexicanos 6.49% 1/23/2027  | 175 | 177 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 610 | 591 |

---

American Funds Insurance Series — Page 39 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Energy (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| PTTEP Treasury Center Co., Ltd. 2.993% 1/15/2030  | USD200 | $190 |
| Sinopec Group Overseas Development (2018), Ltd. 3.10% 1/8/2051 <sup>(g)</sup>  | 430 | 322 |
| Transportadora de Gas del Sur SA 8.50% 7/24/2031 <sup>(g)</sup>  | 250 | 257 |
| Vista Energy Argentina S.A.U. 7.625% 12/10/2035 <sup>(g)</sup>  | 390 | 379 |
| YPF SA 8.25% 1/17/2034 <sup>(g)</sup>  | 335 | 323 |
|  |  | 2921 |
| **Communication services 0.07%** |  |  |
| America Movil, SAB de CV, 10.125% 1/22/2029  | MXN13,710 | 780 |
| America Movil, SAB de CV, 9.50% 1/27/2031  | 24000 | 1347 |
| PLDT, Inc. 2.50% 1/23/2031  | USD210 | 191 |
| Tencent Holdings, Ltd. 3.24% 6/3/2050 <sup>(g)</sup>  | 380 | 279 |
|  |  | 2597 |
| **Consumer discretionary 0.04%** |  |  |
| Alibaba Group Holding, Ltd. 3.15% 2/9/2051  | 410 | 287 |
| Meituan 3.05% 10/28/2030 <sup>(g)</sup>  | 400 | 373 |
| Melco Resorts Finance, Ltd. 7.625% 4/17/2032 <sup>(g)</sup>  | 345 | 362 |
| MercadoLibre, Inc. 3.125% 1/14/2031  | 200 | 185 |
| Sands China, Ltd. 4.375% 6/18/2030  | 220 | 217 |
| Wynn Macau, Ltd. 5.625% 8/26/2028  | 260 | 260 |
|  |  | 1684 |
| **Utilities 0.04%** |  |  |
| Aegea Finance SARL 9.00% 1/20/2031 <sup>(g)</sup>  | 275 | 292 |
| AES Panama Generation Holdings, SRL 4.375% 5/31/2030 <sup>(g)</sup>  | 263 | 249 |
| Empresas Publicas de Medellin ESP 4.25% 7/18/2029 <sup>(g)</sup>  | 412 | 392 |
| Greenko Dutch BV 3.85% 3/29/2026  | 173 | 172 |
| Greenko Dutch BV 3.85% 3/29/2026 <sup>(g)</sup>  | 173 | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; San Miguel Global Power Holdings Corp. 8.125% perpetual bonds (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 6.404% on 3/2/2030) <sup>(j)</sup>  | 350 | 356 |
|  |  | 1632 |
| **Financials 0.04%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bangkok Bank Public Co., Ltd. 3.733% 9/25/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.90% <br> on 9/25/2029) <sup>(j)</sup>  | 400 | 379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BBVA Bancomer SA 8.45% 6/29/2038 (5-year UST Yield Curve Rate T Note Constant Maturity + 4.661% on <br> 6/29/2033) <sup>(g)(j)</sup>  | 340 | 378 |
| CMB International Leasing Management, Ltd. 2.75% 8/12/2030  | 300 | 280 |
| HSBC Holdings PLC 6.332% 3/9/2044 (USD-SOFR + 2.65% on 3/9/2043) <sup>(j)</sup>  | 400 | 440 |
|  |  | 1477 |
| **Materials 0.04%** |  |  |
| Braskem Netherlands Finance BV 8.50% 1/12/2031 <sup>(g)</sup>  | 355 | 139 |
| CSN Resources SA 8.875% 12/5/2030 <sup>(g)</sup>  | 400 | 404 |
| PT Krakatau Posco 6.375% 6/11/2027  | 345 | 351 |
| Sasol Financing USA, LLC 8.75% 5/3/2029 <sup>(d)</sup>  | 520 | 540 |
|  |  | 1434 |

---

American Funds Insurance Series — Page 40 of 319

------

**unaudited**

---

| | | | |
|:---|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Industrials 0.02%**<br>|  | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| IRB Infrastructure Developers, Ltd. 7.11% 3/11/2032 <sup>(g)</sup>  | IRB Infrastructure Developers, Ltd. 7.11% 3/11/2032 <sup>(g)</sup>  | USD335 | $348 |
| LATAM Airlines Group SA 7.875% 4/15/2030 <sup>(g)</sup>  | LATAM Airlines Group SA 7.875% 4/15/2030 <sup>(g)</sup>  | 355 | 370 |
| Mexico City Airport Trust 4.25% 10/31/2026  | Mexico City Airport Trust 4.25% 10/31/2026  | 200 | 199 |
|  |  |  | 917 |
| **Consumer staples 0.02%** |  |  |  |
| Health and Happiness (H&H) International Holdings, Ltd. 9.125% 7/24/2028  | Health and Happiness (H&H) International Holdings, Ltd. 9.125% 7/24/2028  | 200 | 213 |
| NBM US Holdings, Inc. 7.00% 5/14/2026 <sup>(d)</sup>  | NBM US Holdings, Inc. 7.00% 5/14/2026 <sup>(d)</sup>  | 200 | 200 |
| NBM US Holdings, Inc. 6.625% 8/6/2029 <sup>(d)</sup>  | NBM US Holdings, Inc. 6.625% 8/6/2029 <sup>(d)</sup>  | 420 | 426 |
|  |  |  | 839 |
| **Health care 0.02%** |  |  |  |
| Biocon Biologics Global PLC 6.67% 10/9/2029 <sup>(g)</sup>  | Biocon Biologics Global PLC 6.67% 10/9/2029 <sup>(g)</sup>  | 260 | 253 |
| Rede D'Or Finance SARL 4.50% 1/22/2030  | Rede D'Or Finance SARL 4.50% 1/22/2030  | 480 | 464 |
|  |  |  | 717 |
| **Total corporate bonds, notes & loans** |  |  | 14218 |
| **Total bonds, notes & other debt instruments** (cost: $124,025,000) |  |  | 126824 |
| Short-term securities 4.05%<br> **Money market investments 3.86%**<br>|  | Shares |  |
| Capital Group Central Cash Fund 4.17% <sup>(k)(l)</sup>  | Capital Group Central Cash Fund 4.17% <sup>(k)(l)</sup>  | 1516364 | 151636 |
| **Money market investments purchased with collateral from securities on loan 0.18%** |  |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(k)(m)</sup>  | Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(k)(m)</sup>  | 7290476 | 7291 |
| **Bills & notes of governments & government agencies outside the U.S. 0.01%** | Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>|  |
| Egypt (Arab Republic of) 1/6/2026  | 19.531<br> %<br>| EGP12,600 | 246 |
| **Total short-term securities** (cost: $159,154,000) |  |  | 159173 |
| **Total investment securities 100.29%** (cost: $2,464,651,000) |  |  | 3935931 |
| **Other assets less liabilities (0.29)%** |  |  | (11528)<br>|
| **Net assets 100.00%** |  |  | $3924403 |

---

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Short | 2 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD(417)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(e)</sup><br>|
| 5 Year Euro-Bobl Futures | Short | 13 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1798)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| 5 Year U.S. Treasury Note Futures | Short | 3 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (328)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(e)</sup><br>|
| 10 Year Euro-Bund Futures | Short | 15 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2264)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
| 10 Year Ultra U.S. Treasury Note Futures | Long | 18 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 |

---

American Funds Insurance Series — Page 41 of 319

------

**unaudited**

Futures contracts (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp; Value and<br> unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 20 Year U.S. Treasury Note Futures | Long | 1 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $3 |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 1 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (120)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $11 |

---

Forward currency contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <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;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| CZK | 31590 | USD | 1505 | UBS AG | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $19 |
| HUF | 348902 | USD | 1030 | Citibank | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| ZAR | 24367 | USD | 1401 | JPMorgan Chase | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 |
| USD | 1528 | CZK | 31590 | UBS AG | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| USD | 1053 | HUF | 348902 | JPMorgan Chase | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| USD | 143 | PLN | 517 | JPMorgan Chase | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| MXN | 728 | USD | 40 | JPMorgan Chase | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(e)</sup><br>|
| PLN | 517 | USD | 142 | UBS AG | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(e)</sup><br>|
| USD | 39 | MXN | 728 | Goldman Sachs | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 1811 | MYR | 7643 | HSBC Bank | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| MYR | 7643 | USD | 1826 | BNP Paribas | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| USD | 1388 | ZAR | 24367 | Goldman Sachs | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22)<br>|
| USD | 2498 | EUR | 2127 | Citibank | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| EUR | 2127 | USD | 2506 | UBS AG | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| USD | 62 | INR | 5512 | BNP Paribas | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| INR | 5512 | USD | 62 | HSBC Bank | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(e)</sup><br>|
| USD | 945 | THB | 30030 | JPMorgan Chase | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| USD | 1970 | CNH | 13995 | UBS AG | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| CNH | 13995 | USD | 1965 | HSBC Bank | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(e)</sup><br>|
| THB | 30030 | USD | 949 | UBS AG | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22)<br>|
| USD | 774 | COP | 3027600 | Citibank | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| USD | 986 | EUR | 839 | Morgan Stanley | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(e)</sup><br>|
| EUR | 490 | USD | 576 | Goldman Sachs | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(e)</sup><br>|
| EUR | 349 | USD | 411 | UBS AG | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| INR | 5512 | USD | 63 | BNP Paribas | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| IDR | 1360795 | USD | 83 | BNP Paribas | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 1120 | BRL | 6002 | Citibank | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| USD | 1827 | MYR | 7643 | BNP Paribas | 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| USD | 2830 | EUR | 2400 | UBS AG | 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| USD | 141 | MXN | 2603 | JPMorgan Chase | 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| PLN | 517 | USD | 143 | JPMorgan Chase | 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| HUF | 348902 | USD | 1052 | JPMorgan Chase | 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| CNH | 13995 | USD | 1971 | UBS AG | 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| CZK | 52445 | USD | 2538 | UBS AG | 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| USD | 2179 | ZAR | 37931 | JPMorgan Chase | 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
| THB | 30030 | USD | 946 | JPMorgan Chase | 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(22)<br>|

---

American Funds Insurance Series — Page 42 of 319

------

**unaudited**

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 3.86%** | **Short-term securities 3.86%** | **Short-term securities 3.86%** | **Short-term securities 3.86%** | **Short-term securities 3.86%** | **Short-term securities 3.86%** | **Short-term securities 3.86%** | **Short-term securities 3.86%** |
| **Money market investments 3.86%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(k)</sup> <br>| $94686 | &nbsp;&nbsp; $461783 | &nbsp;&nbsp; $404819 | &nbsp;&nbsp; $(7)<br>| &nbsp;&nbsp; $(7)<br>| &nbsp;&nbsp; $151636 | &nbsp;&nbsp; $4499 |

---

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

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| QuintoAndar, Ltd., Series E, preference shares <sup>(a)(c)</sup> <br>| 5/26/2021  | $5258 | $6722 | 0.17<br> %<br>|
| QuintoAndar, Ltd., Series E-1, preference shares <sup>(a)(c)</sup> <br>| 12/20/2021  | 1716 | 1729 | 0.05 |
| NBM US Holdings, Inc. 6.625% 8/6/2029  | 7/8/2022  | 410 | 426 | 0.01 |
| NBM US Holdings, Inc. 7.00% 5/14/2026  | 5/16/2023  | 198 | 200 | 0.01 |
| Sasol Financing USA, LLC 8.75% 5/3/2029  | 1/24/2024  | 525 | 540 | 0.01 |
| Canva Australia Holdings Pty, Ltd. <sup>(a)(c)</sup> <br>| 8/26/2021-11/4/2021 | 656 | 493 | 0.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canva Australia Holdings Pty, Ltd., Series A, noncumulative preferred <br> shares <sup>(a)(c)</sup> <br>| 11/4/2021  | 58 | 44 | 0.00 <br><sup>(n)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canva Australia Holdings Pty, Ltd., Series A-3, noncumulative <br> preferred shares <sup>(a)(c)</sup> <br>| 11/4/2021  | 2 | 1 | 0.00 <br><sup>(n)</sup><br>|
| Getir BV, Series D, preferred shares <sup>(a)(c)</sup> <br>| 5/27/2021  | 3500 | — <br><sup>(e)</sup><br>| 0.00 <br><sup>(n)</sup><br>|
| **Total** |  | $12323 | $10155 | 0.26<br> %<br>|

---

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

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

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

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

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

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

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

<sup>(g)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $12,291,000, which represented 0.31% of the net assets of the fund. 

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

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

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

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

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

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

American Funds Insurance Series — Page 43 of 319

------

**unaudited**

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| BDR = Brazilian Depositary Receipts |
| BRL = Brazilian reais |
| CAD = Canadian dollars |
| CDI = CREST Depository Interest  |
| CLP = Chilean pesos |
| CNH = Chinese yuan renminbi |
| CNY = Chinese yuan renminbi |
| COP = Colombian pesos |
| CZK = Czech korunas |
| EGP = Egyptian pounds |
| EUR = Euros |
| GBP = British pounds |
| GDR = Global Depositary Receipts |
| HUF = Hungarian forints |

---

---

| |
|:---|
| IDR = Indonesian rupiah |
| INR = Indian rupees |
| MXN = Mexican pesos |
| MYR = Malaysian ringgits |
| NGN = Nigerian naira |
| PHP = Philippine pesos |
| PLN = Polish zloty |
| REIT = Real Estate Investment Trust |
| SOFR = Secured Overnight Financing Rate |
| THB = Thai baht |
| TRY = Turkish lira |
| USD = U.S. dollars |
| UST = U.S. Treasury |
| ZAR = South African rand |

---

American Funds Insurance Series — Page 44 of 319

------

**Washington Mutual Investors Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 97.31%<br> **Information technology 24.23%**<br>| Shares | Value<br> (000)<br>|
| Broadcom, Inc.  | 2810517 | $927218 |
| Microsoft Corp.  | 1446494 | 749211 |
| Apple, Inc.  | 1042706 | 265504 |
| NVIDIA Corp.  | 1369358 | 255495 |
| KLA Corp.  | 122354 | 131971 |
| ASML Holding NV (ADR)  | 125821 | 121806 |
| Motorola Solutions, Inc.  | 175851 | 80415 |
| Accenture PLC, Class A  | 249455 | 61516 |
| International Business Machines Corp.  | 207917 | 58666 |
| Salesforce, Inc.  | 239284 | 56710 |
| SAP SE (ADR) <sup>(a)</sup>  | 135006 | 36075 |
| Oracle Corp.  | 124611 | 35046 |
| Intel Corp. <sup>(b)</sup>  | 900057 | 30197 |
| Texas Instruments, Inc.  | 128610 | 23629 |
| Applied Materials, Inc.  | 97306 | 19922 |
| Synopsys, Inc. <sup>(b)</sup>  | 31950 | 15764 |
| ASM International NV (ADR)  | 21707 | 13046 |
| Adobe, Inc. <sup>(b)</sup>  | 34743 | 12256 |
| Fair Isaac Corp. <sup>(b)</sup>  | 8074 | 12083 |
| TE Connectivity PLC  | 42686 | 9371 |
| Amphenol Corp., Class A  | 55653 | 6887 |
|  |  | 2922788 |
| **Financials 18.02%** |  |  |
| Marsh & McLennan Cos., Inc.  | 1137983 | 229338 |
| JPMorgan Chase & Co.  | 653710 | 206200 |
| BlackRock, Inc.  | 165852 | 193362 |
| Visa, Inc., Class A  | 470186 | 160512 |
| Bank of America Corp.  | 2758591 | 142316 |
| Mastercard, Inc., Class A  | 228827 | 130159 |
| Capital One Financial Corp.  | 549225 | 116754 |
| Arthur J. Gallagher & Co.  | 340478 | 105460 |
| Wells Fargo & Co.  | 1051917 | 88172 |
| Morgan Stanley  | 514896 | 81848 |
| Truist Financial Corp.  | 1752492 | 80124 |
| Citizens Financial Group, Inc.  | 1320920 | 70220 |
| Chubb, Ltd.  | 223599 | 63111 |
| Progressive Corp.  | 234939 | 58018 |
| Apollo Asset Management, Inc.  | 424934 | 56631 |
| KKR & Co., Inc.  | 432202 | 56165 |
| Blackstone, Inc.  | 269942 | 46120 |
| American Express Co.  | 111170 | 36926 |
| CME Group, Inc., Class A  | 134224 | 36266 |
| Aon PLC, Class A  | 97728 | 34848 |
| Brookfield Asset Management, Ltd., Class A  | 483694 | 27541 |
| Goldman Sachs Group, Inc.  | 29966 | 23863 |

---

American Funds Insurance Series — Page 45 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials (continued)**<br>| Shares | Value<br> (000)<br>|
| Citigroup, Inc.  | 233574 | $23708 |
| S&P Global, Inc.  | 42223 | 20550 |
| KeyCorp  | 1073752 | 20068 |
| AXA SA (ADR)  | 365158 | 17506 |
| Carlyle Group, Inc. (The)  | 270192 | 16941 |
| PNC Financial Services Group, Inc.  | 68886 | 13841 |
| Intercontinental Exchange, Inc.  | 52537 | 8851 |
| Fifth Third Bancorp  | 178306 | 7943 |
| Sony Financial Group, Inc. (ADR) <sup>(b)</sup>  | 53767 | 298 |
|  |  | 2173660 |
| **Industrials 11.71%** |  |  |
| RTX Corp.  | 1233802 | 206452 |
| General Aerospace Co.  | 603476 | 181538 |
| Northrop Grumman Corp.  | 283830 | 172943 |
| Boeing Co. (The) <sup>(b)</sup>  | 374770 | 80887 |
| Union Pacific Corp.  | 305446 | 72198 |
| L3Harris Technologies, Inc.  | 231628 | 70742 |
| Caterpillar, Inc.  | 145015 | 69194 |
| 3M Co.  | 393956 | 61134 |
| Paychex, Inc.  | 435493 | 55203 |
| Deere & Co.  | 104375 | 47727 |
| Parker-Hannifin Corp.  | 58555 | 44393 |
| Delta Air Lines, Inc.  | 769587 | 43674 |
| Ingersoll-Rand, Inc.  | 498515 | 41187 |
| Equifax, Inc.  | 139296 | 35734 |
| Carrier Global Corp.  | 547249 | 32671 |
| Deutsche Post AG (ADR) <sup>(a)</sup>  | 635826 | 28326 |
| FedEx Corp.  | 79115 | 18656 |
| BAE Systems PLC (ADR)  | 161872 | 18084 |
| Siemens AG (ADR)  | 132607 | 17903 |
| Johnson Controls International PLC  | 162291 | 17844 |
| Waste Connections, Inc.  | 99256 | 17449 |
| Republic Services, Inc.  | 67539 | 15499 |
| PACCAR, Inc.  | 147809 | 14533 |
| HEICO Corp.  | 44486 | 14361 |
| Watsco, Inc.  | 31900 | 12897 |
| Waste Management, Inc.  | 33430 | 7382 |
| Lennox International, Inc.  | 13782 | 7296 |
| Applied Industrial Technologies, Inc.  | 22716 | 5930 |
| Honeywell International, Inc.  | 3131 | 659 |
|  |  | 1412496 |
| **Health care 10.66%** |  |  |
| UnitedHealth Group, Inc.  | 592312 | 204525 |
| Eli Lilly and Co.  | 251931 | 192223 |
| Abbott Laboratories  | 1123355 | 150462 |
| Amgen, Inc.  | 517667 | 146086 |
| CVS Health Corp.  | 1779640 | 134167 |
| Gilead Sciences, Inc.  | 780218 | 86604 |
| AstraZeneca PLC (ADR)  | 941742 | 72250 |
| Vertex Pharmaceuticals, Inc. <sup>(b)</sup>  | 138952 | 54419 |
| AbbVie, Inc.  | 225392 | 52187 |
| Danaher Corp.  | 185365 | 36751 |
| Thermo Fisher Scientific, Inc.  | 65048 | 31550 |

---

American Funds Insurance Series — Page 46 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Health care (continued)**<br>| Shares | Value<br> (000)<br>|
| Novo Nordisk AS, Class B (ADR) <sup>(a)</sup>  | 508756 | $28231 |
| Elevance Health, Inc.  | 86447 | 27933 |
| Zimmer Biomet Holdings, Inc.  | 249736 | 24599 |
| Johnson & Johnson  | 69000 | 12794 |
| Illumina, Inc. <sup>(b)</sup>  | 111256 | 10566 |
| Regeneron Pharmaceuticals, Inc.  | 12023 | 6760 |
| Bristol-Myers Squibb Co.  | 123390 | 5565 |
| Cooper Cos., Inc. <sup>(b)</sup>  | 79881 | 5477 |
| Zoetis, Inc., Class A  | 20870 | 3054 |
|  |  | 1286203 |
| **Consumer staples 7.76%** |  |  |
| Philip Morris International, Inc.  | 2465806 | 399954 |
| British American Tobacco PLC (ADR)  | 2472990 | 131266 |
| Keurig Dr Pepper, Inc.  | 2283905 | 58262 |
| Mondelez International, Inc., Class A  | 822384 | 51374 |
| Altria Group, Inc.  | 590255 | 38992 |
| Coca-Cola Co.  | 581391 | 38558 |
| Constellation Brands, Inc., Class A  | 274677 | 36991 |
| Procter & Gamble Co.  | 216242 | 33226 |
| Costco Wholesale Corp.  | 33711 | 31204 |
| Hershey Co.  | 117588 | 21995 |
| Nestle SA (ADR)  | 206573 | 18957 |
| Church & Dwight Co., Inc.  | 184306 | 16151 |
| Estee Lauder Cos., Inc. (The), Class A  | 152461 | 13435 |
| Kimberly-Clark Corp.  | 103829 | 12910 |
| Kraft Heinz Co. (The)  | 412788 | 10749 |
| Target Corp.  | 98519 | 8837 |
| Walmart, Inc.  | 64967 | 6696 |
| Bunge Global SA  | 80582 | 6547 |
|  |  | 936104 |
| **Consumer discretionary 6.92%** |  |  |
| Royal Caribbean Cruises, Ltd.  | 549703 | 177873 |
| Home Depot, Inc.  | 250518 | 101507 |
| Starbucks Corp.  | 988047 | 83589 |
| Amazon.com, Inc. <sup>(b)</sup>  | 353949 | 77717 |
| Darden Restaurants, Inc.  | 362232 | 68955 |
| YUM! Brands, Inc.  | 435699 | 66226 |
| D.R. Horton, Inc.  | 362440 | 61423 |
| TJX Cos., Inc. (The)  | 382039 | 55220 |
| Marriott International, Inc., Class A  | 89554 | 23323 |
| NIKE, Inc., Class B  | 319645 | 22289 |
| Vail Resorts, Inc.  | 145542 | 21769 |
| Tractor Supply Co.  | 340785 | 19380 |
| General Motors Co.  | 226927 | 13836 |
| Toll Brothers, Inc.  | 81236 | 11222 |
| Tesla, Inc. <sup>(b)</sup>  | 20642 | 9180 |
| Sony Group Corp. (ADR)  | 268839 | 7740 |
| Texas Roadhouse, Inc.  | 43999 | 7310 |
| Chipotle Mexican Grill, Inc. <sup>(b)</sup>  | 165637 | 6491 |
|  |  | 835050 |

---

American Funds Insurance Series — Page 47 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Communication services 5.37%**<br>| Shares | Value<br> (000)<br>|
| Alphabet, Inc., Class A  | 639371 | $155431 |
| Alphabet, Inc., Class C  | 589795 | 143645 |
| Meta Platforms, Inc., Class A  | 244053 | 179228 |
| Comcast Corp., Class A  | 2936581 | 92267 |
| Walt Disney Co. (The)  | 324762 | 37185 |
| Electronic Arts, Inc.  | 79702 | 16076 |
| Verizon Communications, Inc.  | 261888 | 11510 |
| Deutsche Telekom AG (ADR)  | 181950 | 6214 |
| AT&T, Inc.  | 210004 | 5930 |
|  |  | 647486 |
| **Utilities 4.11%** |  |  |
| Constellation Energy Corp.  | 387211 | 127420 |
| Sempra  | 1262918 | 113637 |
| Southern Co. (The)  | 1016396 | 96324 |
| FirstEnergy Corp.  | 1235342 | 56603 |
| DTE Energy Co.  | 225528 | 31896 |
| Entergy Corp.  | 232726 | 21688 |
| CenterPoint Energy, Inc.  | 546060 | 21187 |
| Public Service Enterprise Group, Inc.  | 184231 | 15376 |
| NextEra Energy, Inc.  | 125161 | 9448 |
| Exelon Corp.  | 58400 | 2629 |
|  |  | 496208 |
| **Energy 3.28%** |  |  |
| EOG Resources, Inc.  | 982246 | 110129 |
| Exxon Mobil Corp.  | 673434 | 75930 |
| ConocoPhillips  | 747748 | 70729 |
| Canadian Natural Resources, Ltd.  | 1695469 | 54187 |
| Baker Hughes Co., Class A  | 554567 | 27019 |
| TC Energy Corp.  | 434970 | 23667 |
| Chevron Corp.  | 108261 | 16812 |
| Halliburton Co.  | 398694 | 9808 |
| Schlumberger NV  | 216823 | 7452 |
|  |  | 395733 |
| **Materials 2.68%** |  |  |
| Linde PLC  | 182379 | 86630 |
| Wheaton Precious Metals Corp.  | 565165 | 63208 |
| International Paper Co.  | 1193402 | 55374 |
| Air Products and Chemicals, Inc.  | 185872 | 50691 |
| Corteva, Inc.  | 613491 | 41490 |
| Royal Gold, Inc.  | 44934 | 9013 |
| LyondellBasell Industries NV  | 153562 | 7531 |
| H.B. Fuller Co.  | 114890 | 6810 |
| Nucor Corp.  | 16976 | 2299 |
|  |  | 323046 |
| **Real estate 2.57%** |  |  |
| Welltower, Inc. REIT  | 1015316 | 180868 |
| Mid-America Apartment Communities, Inc. REIT  | 276139 | 38585 |
| Prologis, Inc. REIT  | 307696 | 35237 |
| Simon Property Group, Inc. REIT  | 162029 | 30408 |

---

American Funds Insurance Series — Page 48 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Real estate (continued)**<br>| Shares | Value<br> (000)<br>|
| American Tower Corp. REIT  | 95755 | $18416 |
| Extra Space Storage, Inc. REIT  | 42274 | 5958 |
|  |  | 309472 |
| **Total common stocks** (cost: $6,986,000,000) |  | 11738246 |
| Convertible stocks 0.48%<br> **Industrials 0.26%**<br>|  |  |
| Boeing Co., Series A, convertible preferred depositary shares, 6.00% 10/15/2027  | 455591 | 31696 |
| **Financials 0.22%** |  |  |
| KKR & Co., Inc., Class D, convertible preferred shares, 6.25% 3/1/2028  | 436775 | 22865 |
| Apollo Global Management, Inc., Class A, cumulative convertible preferred shares, 6.75% 7/31/2026  | 54000 | 3795 |
|  |  | 26660 |
| **Total convertible stocks** (cost: $47,807,000) |  | 58356 |
| Short-term securities 2.54%<br> **Money market investments 2.16%**<br>|  |  |
| Capital Group Central Cash Fund 4.17% <sup>(c)(d)</sup>  | 2604365 | 260436 |
| **Money market investments purchased with collateral from securities on loan 0.38%** |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(c)(e)</sup>  | 45905835 | 45906 |
| **Total short-term securities** (cost: $306,303,000) |  | 306342 |
| **Total investment securities 100.33%** (cost: $7,340,110,000) |  | 12102944 |
| **Other assets less liabilities (0.33)%** |  | (39689)<br>|
| **Net assets 100.00%** |  | $12063255 |

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 2.16%** | **Short-term securities 2.16%** | **Short-term securities 2.16%** | **Short-term securities 2.16%** | **Short-term securities 2.16%** | **Short-term securities 2.16%** | **Short-term securities 2.16%** | **Short-term securities 2.16%** |
| **Money market investments 2.16%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(c)</sup> <br>| $245250 | &nbsp;&nbsp; $1220161 | &nbsp;&nbsp; $1204907 | &nbsp;&nbsp; $(20)<br>| &nbsp;&nbsp; $(48)<br>| &nbsp;&nbsp; $260436 | &nbsp;&nbsp; $10339 |
| **Money market investments purchased with collateral** <br>**from securities on loan 0.00%**<br>|  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(c)</sup> <br>| 9850 |  | &nbsp;&nbsp; 9850 <br><sup>(f)</sup><br>|  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(g)</sup><br>|
| **Total 2.16%** |  |  |  | &nbsp;&nbsp; $(20)<br>| &nbsp;&nbsp; $(48)<br>| &nbsp;&nbsp; $260436 | &nbsp;&nbsp; $10339 |

---

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

American Funds Insurance Series — Page 49 of 319

------

**unaudited**

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

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

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

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

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

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

<sup>(f)</sup> Represents net activity. 

<sup>(g)</sup> Dividend income is included with securities lending income and is not shown in this table.

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

---

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

---

American Funds Insurance Series — Page 50 of 319

------

**U.S. Small and Mid Cap Equity Fund**<sup>®</sup>

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 95.79%<br> **Financials 23.71%**<br>| Shares | Value<br> (000)<br>|
| Capital One Financial Corp.  | 15995 | $3400 |
| Brown & Brown, Inc.  | 32279 | 3027 |
| Fifth Third Bancorp  | 48463 | 2159 |
| Victory Capital Holdings, Inc., Class A  | 30516 | 1976 |
| RenaissanceRe Holdings, Ltd.  | 7439 | 1889 |
| KeyCorp  | 88165 | 1648 |
| TPG, Inc., Class A  | 26777 | 1538 |
| StepStone Group, Inc., Class A  | 20098 | 1313 |
| LPL Financial Holdings, Inc.  | 3653 | 1215 |
| Hamilton Lane, Inc., Class A  | 8113 | 1094 |
| Aspen Insurance Holdings, Ltd., Class A <sup>(a)</sup>  | 27520 | 1010 |
| WEX, Inc. <sup>(a)</sup>  | 5906 | 930 |
| Accelerant Holdings, Class A <sup>(a)</sup>  | 53614 | 798 |
| Radian Group, Inc.  | 21154 | 766 |
| Affirm Holdings, Inc., Class A <sup>(a)</sup>  | 7863 | 575 |
| Ameriprise Financial, Inc.  | 1073 | 527 |
| Artisan Partners Asset Management, Inc., Class A  | 11549 | 501 |
| Ally Financial, Inc.  | 11877 | 466 |
| Tradeweb Markets, Inc., Class A  | 4158 | 461 |
| Fiserv, Inc. <sup>(a)</sup>  | 3534 | 456 |
| Citizens Financial Group, Inc.  | 7082 | 377 |
| Essent Group, Ltd.  | 5174 | 329 |
| Kinsale Capital Group, Inc.  | 613 | 261 |
| Figure Technology Solutions, Inc. <sup>(a)</sup>  | 7011 | 255 |
| Arthur J. Gallagher & Co.  | 733 | 227 |
|  |  | 27198 |
| **Industrials 20.91%** |  |  |
| United Rentals, Inc.  | 2327 | 2222 |
| Karman Holdings, Inc. <sup>(a)</sup>  | 29473 | 2128 |
| XPO, Inc. <sup>(a)</sup>  | 15003 | 1939 |
| Crane Co.  | 8583 | 1580 |
| Ingersoll-Rand, Inc.  | 18592 | 1536 |
| Comfort Systems USA, Inc.  | 1717 | 1417 |
| AGCO Corp.  | 9629 | 1031 |
| Generac Holdings, Inc. <sup>(a)</sup>  | 5841 | 978 |
| Bloom Energy Corp., Class A <sup>(a)</sup>  | 10465 | 885 |
| Core & Main, Inc., Class A <sup>(a)</sup>  | 16314 | 878 |
| SiteOne Landscape Supply, Inc. <sup>(a)</sup>  | 5706 | 735 |
| APi Group Corp. <sup>(a)</sup>  | 20762 | 714 |
| Advanced Drainage Systems, Inc.  | 4862 | 674 |
| AMETEK, Inc.  | 3490 | 656 |
| ATI, Inc. <sup>(a)</sup>  | 8013 | 652 |
| Applied Industrial Technologies, Inc.  | 2069 | 540 |
| PACCAR, Inc.  | 5213 | 513 |
| Copart, Inc. <sup>(a)</sup>  | 10928 | 491 |

---

American Funds Insurance Series — Page 51 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Industrials (continued)**<br>| Shares | Value<br> (000)<br>|
| The Toro Co.  | 6070 | $463 |
| Builders FirstSource, Inc. <sup>(a)</sup>  | 3701 | 449 |
| L3Harris Technologies, Inc.  | 1298 | 396 |
| HEICO Corp.  | 1219 | 394 |
| Kadant, Inc.  | 1314 | 391 |
| CSW Industrials, Inc.  | 1602 | 389 |
| FTAI Aviation, Ltd.  | 2303 | 384 |
| Graco, Inc.  | 3534 | 300 |
| Robert Half, Inc.  | 7774 | 264 |
| Oshkosh Corp.  | 1904 | 247 |
| Fluor Corp. <sup>(a)</sup>  | 5245 | 221 |
| ESCO Technologies, Inc.  | 1000 | 211 |
| United Parcel Service, Inc., Class B  | 1928 | 161 |
| CBIZ, Inc. <sup>(a)</sup>  | 2763 | 146 |
|  |  | 23985 |
| **Consumer discretionary 16.00%** |  |  |
| YUM! Brands, Inc.  | 15784 | 2399 |
| Hilton Worldwide Holdings, Inc.  | 6735 | 1747 |
| Vail Resorts, Inc.  | 11638 | 1741 |
| Aptiv Holdings, Ltd. <sup>(a)</sup>  | 15408 | 1328 |
| LKQ Corp.  | 41336 | 1262 |
| General Motors Co.  | 12553 | 765 |
| Five Below, Inc. <sup>(a)</sup>  | 4835 | 748 |
| Bright Horizons Family Solutions, Inc. <sup>(a)</sup>  | 6668 | 724 |
| Flutter Entertainment PLC <sup>(a)</sup>  | 2747 | 698 |
| Texas Roadhouse, Inc.  | 4086 | 679 |
| Williams-Sonoma, Inc.  | 3221 | 630 |
| Wingstop, Inc.  | 2345 | 590 |
| D.R. Horton, Inc.  | 3375 | 572 |
| TopBuild Corp. <sup>(a)</sup>  | 1399 | 547 |
| Darden Restaurants, Inc.  | 2863 | 545 |
| Murphy USA, Inc.  | 1049 | 407 |
| Royal Caribbean Cruises, Ltd.  | 1223 | 396 |
| Chewy, Inc., Class A <sup>(a)</sup>  | 9759 | 395 |
| Toll Brothers, Inc.  | 2762 | 382 |
| Cavco Industries, Inc. <sup>(a)</sup>  | 604 | 351 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 8015 | 314 |
| AutoZone, Inc. <sup>(a)</sup>  | 61 | 262 |
| Brinker International, Inc. <sup>(a)</sup>  | 1983 | 251 |
| SharkNinja, Inc. <sup>(a)</sup>  | 2203 | 227 |
| Polaris, Inc.  | 2953 | 172 |
| CAVA Group, Inc. <sup>(a)</sup>  | 2605 | 157 |
| Stubhub Holdings, Inc., Class A <sup>(a)(b)</sup>  | 3561 | 60 |
|  |  | 18349 |
| **Information technology 10.58%** |  |  |
| Ingram Micro Holding Corp.  | 73124 | 1572 |
| Keysight Technologies, Inc. <sup>(a)</sup>  | 5729 | 1002 |
| Fabrinet, non-registered shares <sup>(a)</sup>  | 2709 | 988 |
| Flex, Ltd. <sup>(a)</sup>  | 15048 | 872 |
| Insight Enterprises, Inc. <sup>(a)</sup>  | 7653 | 868 |
| Vontier Corp.  | 17966 | 754 |
| Procore Technologies, Inc. <sup>(a)</sup>  | 9567 | 698 |
| Lumentum Holdings, Inc. <sup>(a)</sup>  | 4015 | 653 |

---

American Funds Insurance Series — Page 52 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Information technology (continued)**<br>| Shares | Value<br> (000)<br>|
| Ciena Corp. <sup>(a)</sup>  | 4444 | $647 |
| MongoDB, Inc., Class A <sup>(a)</sup>  | 1978 | 614 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 2672 | 573 |
| Fair Isaac Corp. <sup>(a)</sup>  | 350 | 524 |
| TD SYNNEX Corp.  | 3195 | 523 |
| CDW Corp.  | 1873 | 298 |
| Snowflake, Inc. <sup>(a)</sup>  | 1305 | 294 |
| RingCentral, Inc., Class A <sup>(a)</sup>  | 8915 | 253 |
| Okta, Inc., Class A <sup>(a)</sup>  | 2502 | 230 |
| EPAM Systems, Inc. <sup>(a)</sup>  | 1501 | 226 |
| Clearwater Analytics Holdings, Inc., Class A <sup>(a)</sup>  | 9414 | 170 |
| Figma, Inc. <sup>(a)(b)</sup>  | 3263 | 169 |
| Via Transportation, Inc., Class A <sup>(a)</sup>  | 2600 | 125 |
| Circle Internet Group, Inc. <sup>(a)(b)</sup>  | 645 | 86 |
|  |  | 12139 |
| **Consumer staples 7.27%** |  |  |
| US Foods Holding Corp. <sup>(a)</sup>  | 33544 | 2570 |
| Monster Beverage Corp. <sup>(a)</sup>  | 26246 | 1767 |
| e.l.f. Beauty, Inc. <sup>(a)</sup>  | 5879 | 779 |
| Caseys General Stores, Inc.  | 1279 | 723 |
| Kimberly-Clark Corp.  | 5425 | 674 |
| Dollar General Corp.  | 5551 | 574 |
| Estee Lauder Cos., Inc. (The), Class A  | 5416 | 477 |
| Keurig Dr Pepper, Inc.  | 13302 | 339 |
| Maplebear, Inc. <sup>(a)</sup>  | 7637 | 281 |
| The Campbell's Co.  | 4851 | 153 |
|  |  | 8337 |
| **Health care 6.99%** |  |  |
| Ionis Pharmaceuticals, Inc. <sup>(a)</sup>  | 16249 | 1063 |
| Doximity, Inc., Class A <sup>(a)</sup>  | 9943 | 727 |
| Hims & Hers Health, Inc., Class A <sup>(a)</sup>  | 12222 | 693 |
| Exact Sciences Corp. <sup>(a)</sup>  | 11959 | 654 |
| Align Technology, Inc. <sup>(a)</sup>  | 5019 | 629 |
| Veeva Systems, Inc., Class A <sup>(a)</sup>  | 1973 | 588 |
| Illumina, Inc. <sup>(a)</sup>  | 6107 | 580 |
| Halozyme Therapeutics, Inc. <sup>(a)</sup>  | 7687 | 564 |
| Cooper Cos., Inc. <sup>(a)</sup>  | 7667 | 526 |
| Penumbra, Inc. <sup>(a)</sup>  | 1378 | 349 |
| NewAmsterdam Pharma Co. NV <sup>(a)</sup>  | 11072 | 315 |
| Molina Healthcare, Inc. <sup>(a)</sup>  | 1579 | 302 |
| Natera, Inc. <sup>(a)</sup>  | 1861 | 300 |
| Regeneron Pharmaceuticals, Inc.  | 418 | 235 |
| Zimmer Biomet Holdings, Inc.  | 2221 | 219 |
| Krystal Biotech, Inc. <sup>(a)</sup>  | 993 | 175 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 222 | 101 |
|  |  | 8020 |
| **Real estate 3.09%** |  |  |
| Simon Property Group, Inc. REIT  | 7576 | 1422 |
| Essex Property Trust, Inc. REIT  | 2501 | 669 |
| Crown Castle, Inc. REIT  | 5605 | 541 |

---

American Funds Insurance Series — Page 53 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Real estate (continued)**<br>| Shares | Value<br> (000)<br>|
| NNN REIT, Inc.  | 11996 | $510 |
| Mid-America Apartment Communities, Inc. REIT  | 2854 | 399 |
|  |  | 3541 |
| **Communication services 3.07%** |  |  |
| ROBLOX Corp., Class A <sup>(a)</sup>  | 16286 | 2256 |
| Live Nation Entertainment, Inc. <sup>(a)</sup>  | 4220 | 690 |
| Take-Two Interactive Software, Inc. <sup>(a)</sup>  | 1298 | 335 |
| Charter Communications, Inc., Class A <sup>(a)</sup>  | 867 | 238 |
|  |  | 3519 |
| **Energy 2.15%** |  |  |
| Diamondback Energy, Inc.  | 7648 | 1095 |
| Baker Hughes Co., Class A  | 15295 | 745 |
| Viper Energy, Inc., Class A  | 9192 | 351 |
| Permian Resources Corp., Class A  | 21006 | 269 |
|  |  | 2460 |
| **Materials 1.51%** |  |  |
| International Paper Co.  | 22112 | 1026 |
| Element Solutions, Inc.  | 19134 | 481 |
| Corteva, Inc.  | 3277 | 222 |
|  |  | 1729 |
| **Utilities 0.51%** |  |  |
| Exelon Corp.  | 10705 | 482 |
| FirstEnergy Corp.  | 2351 | 108 |
|  |  | 590 |
| **Total common stocks** (cost: $108,586,000) |  | 109867 |
| Short-term securities 3.41%<br> **Money market investments 3.23%**<br>|  |  |
| Capital Group Central Cash Fund 4.17% <sup>(c)(d)</sup>  | 37013 | 3701 |
| **Money market investments purchased with collateral from securities on loan 0.18%** |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(c)(e)</sup>  | 212540 | 213 |
| **Total short-term securities** (cost: $3,914,000) |  | 3914 |
| Total investment securities 99.20% (cost: $112,500,000) |  | 113781 |
| **Other assets less liabilities 0.80%** |  | 919 |
| **Net assets 100.00%** |  | $114700 |

---

American Funds Insurance Series — Page 54 of 319

------

**unaudited**

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 3.23%** | **Short-term securities 3.23%** | **Short-term securities 3.23%** | **Short-term securities 3.23%** | **Short-term securities 3.23%** | **Short-term securities 3.23%** | **Short-term securities 3.23%** | **Short-term securities 3.23%** |
| **Money market investments 3.23%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(c)</sup> <br>| $288 | &nbsp;&nbsp; $11012 | &nbsp;&nbsp; $7599 | &nbsp;&nbsp; $— <br><sup>(f)</sup><br>| &nbsp;&nbsp; $— <br><sup>(f)</sup><br>| &nbsp;&nbsp; $3701 | &nbsp;&nbsp; $25 |

---

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

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

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

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

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

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

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

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| REIT = Real Estate Investment Trust |

---

American Funds Insurance Series — Page 55 of 319

------

**Capital World Growth and Income Fund**<sup>®</sup>

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 96.67%<br> **Information technology 23.41%**<br>| Shares | Value<br> (000)<br>|
| Broadcom, Inc.  | 284358 | $93812 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 2137772 | 91535 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 3201 | 894 |
| Microsoft Corp.  | 148556 | 76945 |
| NVIDIA Corp.  | 288064 | 53747 |
| Apple, Inc.  | 116874 | 29760 |
| Micron Technology, Inc.  | 118739 | 19867 |
| ASML Holding NV  | 17337 | 16855 |
| ASML Holding NV (ADR)  | 1512 | 1464 |
| International Business Machines Corp.  | 41897 | 11822 |
| Tokyo Electron, Ltd.  | 53475 | 9532 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 59502 | 8843 |
| Oracle Corp.  | 28493 | 8013 |
| MediaTek, Inc.  | 157094 | 6778 |
| Intel Corp. <sup>(a)</sup>  | 155834 | 5228 |
| Synopsys, Inc. <sup>(a)</sup>  | 8886 | 4384 |
| Amphenol Corp., Class A  | 32364 | 4005 |
| Seagate Technology Holdings PLC  | 15867 | 3746 |
| KLA Corp.  | 3374 | 3639 |
| Texas Instruments, Inc.  | 17628 | 3239 |
| Lenovo Group Ltd.  | 2136000 | 3170 |
| SAP SE  | 10103 | 2703 |
| Accenture PLC, Class A  | 10695 | 2637 |
| Allegro MicroSystems, Inc. <sup>(a)</sup>  | 87812 | 2564 |
| Capgemini SE  | 14098 | 2045 |
| Constellation Software, Inc.  | 721 | 1957 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 8686 | 1864 |
| AppLovin Corp., Class A <sup>(a)</sup>  | 2510 | 1803 |
| Samsung Electronics Co., Ltd.  | 26544 | 1587 |
| EPAM Systems, Inc. <sup>(a)</sup>  | 10025 | 1512 |
| Strategy, Inc., Class A <sup>(a)</sup>  | 4502 | 1451 |
| Applied Materials, Inc.  | 5214 | 1067 |
| Salesforce, Inc.  | 4384 | 1039 |
| Elastic NV, non-registered shares <sup>(a)</sup>  | 11780 | 995 |
| Arista Networks, Inc. <sup>(a)</sup>  | 6491 | 946 |
| Fair Isaac Corp. <sup>(a)</sup>  | 458 | 685 |
| Corning, Inc.  | 7323 | 601 |
| Advantech Co., Ltd.  | 36098 | 378 |
|  |  | 483112 |
| **Industrials 16.26%** |  |  |
| General Aerospace Co.  | 98998 | 29781 |
| BAE Systems PLC  | 936332 | 25928 |
| Airbus SE, non-registered shares  | 92022 | 21327 |
| RTX Corp.  | 108265 | 18116 |
| Siemens AG  | 62755 | 16887 |

---

American Funds Insurance Series — Page 56 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Industrials (continued)**<br>| Shares | Value<br> (000)<br>|
| Leonardo SpA  | 257389 | $16324 |
| TransDigm Group, Inc.  | 11134 | 14675 |
| Melrose Industries PLC  | 1328582 | 10878 |
| Deere & Co.  | 23658 | 10818 |
| Volvo AB, Class B  | 320249 | 9168 |
| United Rentals, Inc.  | 9242 | 8823 |
| Ryanair Holdings PLC (ADR)  | 142576 | 8586 |
| Carrier Global Corp.  | 142291 | 8495 |
| Compagnie de Saint-Gobain SA, non-registered shares  | 78402 | 8437 |
| Safran SA  | 22093 | 7784 |
| Rolls-Royce Holdings PLC  | 440157 | 7044 |
| Hitachi, Ltd.  | 252100 | 6699 |
| Mitsui & Co., Ltd.  | 253700 | 6313 |
| Ingersoll-Rand, Inc.  | 74004 | 6114 |
| L3Harris Technologies, Inc.  | 19651 | 6002 |
| RELX PLC  | 118441 | 5666 |
| Siemens Energy AG <sup>(a)</sup>  | 47677 | 5565 |
| Lockheed Martin Corp.  | 10189 | 5086 |
| Union Pacific Corp.  | 19897 | 4703 |
| Prysmian SpA  | 47586 | 4703 |
| Techtronic Industries Co., Ltd.  | 359000 | 4592 |
| Parker-Hannifin Corp.  | 5942 | 4505 |
| Deutsche Post AG  | 98361 | 4381 |
| Bureau Veritas SA  | 130575 | 4084 |
| Recruit Holdings Co., Ltd.  | 65950 | 3551 |
| Saab AB, Class B  | 50858 | 3104 |
| XPO, Inc. <sup>(a)</sup>  | 22708 | 2935 |
| Core & Main, Inc., Class A <sup>(a)</sup>  | 54167 | 2916 |
| ITOCHU Corp.  | 49800 | 2837 |
| IHI Corp.  | 149700 | 2794 |
| International Consolidated Airlines Group SA (CDI)  | 528593 | 2745 |
| GE Vernova, Inc.  | 4428 | 2723 |
| MTU Aero Engines AG  | 4854 | 2228 |
| Crane Co.  | 9711 | 1788 |
| Comfort Systems USA, Inc.  | 2061 | 1701 |
| FTAI Aviation, Ltd.  | 9560 | 1595 |
| Weir Group PLC (The)  | 40053 | 1472 |
| Bombardier, Inc., Class B <sup>(a)</sup>  | 9858 | 1381 |
| Bunzl PLC  | 42369 | 1337 |
| Randstad NV, non-registered shares <sup>(b)</sup>  | 28055 | 1191 |
| SECOM Co., Ltd.  | 27100 | 994 |
| Howmet Aerospace, Inc.  | 4516 | 886 |
| Grupo Aeroportuario del Pacifico, SAB de CV, Class B  | 37007 | 875 |
| Woodward, Inc.  | 3354 | 848 |
| Diploma PLC  | 11469 | 818 |
| Boeing Co. (The) <sup>(a)</sup>  | 3785 | 817 |
| PACCAR, Inc.  | 7084 | 697 |
| Ferguson Enterprises, Inc.  | 2880 | 647 |
| Valmet OYJ  | 17763 | 590 |
| FedEx Corp.  | 1469 | 346 |
| Marubeni Corp.  | 13600 | 340 |
|  |  | 335640 |

---

American Funds Insurance Series — Page 57 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials 15.16%**<br>| Shares | Value<br> (000)<br>|
| ING Groep NV  | 568275 | $14728 |
| Zurich Insurance Group AG  | 19885 | 14153 |
| JPMorgan Chase & Co.  | 39667 | 12512 |
| Chubb, Ltd.  | 41658 | 11758 |
| BlackRock, Inc.  | 9815 | 11443 |
| Citigroup, Inc.  | 110046 | 11170 |
| Mastercard, Inc., Class A  | 18642 | 10604 |
| Capital One Financial Corp.  | 44805 | 9525 |
| Aviva PLC  | 1030455 | 9504 |
| NatWest Group PLC  | 1268599 | 8899 |
| Apollo Asset Management, Inc.  | 66260 | 8831 |
| AXA SA  | 180352 | 8605 |
| Bank of America Corp.  | 150829 | 7781 |
| American Express Co.  | 22020 | 7314 |
| Blackstone, Inc.  | 41959 | 7169 |
| Arthur J. Gallagher & Co.  | 22685 | 7026 |
| UniCredit SpA  | 87888 | 6652 |
| HSBC Holdings PLC (GBP denominated)  | 343153 | 4823 |
| HSBC Holdings PLC (HKD denominated)  | 130000 | 1827 |
| Visa, Inc., Class A  | 18960 | 6473 |
| Wells Fargo & Co.  | 73612 | 6170 |
| 3i Group PLC  | 93637 | 5149 |
| HDFC Life Insurance Co., Ltd.  | 586869 | 5000 |
| Banco Bilbao Vizcaya Argentaria SA  | 240818 | 4620 |
| Aon PLC, Class A  | 12706 | 4531 |
| Mizuho Financial Group, Inc.  | 133300 | 4496 |
| Israel Discount Bank, Ltd., Class A  | 416534 | 4117 |
| Partners Group Holding AG  | 3100 | 4025 |
| Postal Savings Bank of China Co., Ltd., Class H  | 5553383 | 3896 |
| BNP Paribas SA  | 42022 | 3815 |
| Blue Owl Capital, Inc., Class A  | 224513 | 3801 |
| Ares Management Corp., Class A  | 23735 | 3795 |
| Progressive Corp.  | 14883 | 3675 |
| AIA Group, Ltd.  | 365469 | 3506 |
| Munchener Ruckversicherungs-Gesellschaft AG  | 5305 | 3385 |
| KB Financial Group, Inc.  | 40508 | 3335 |
| Erste Group Bank AG  | 33771 | 3299 |
| Morgan Stanley  | 20517 | 3261 |
| Marsh & McLennan Cos., Inc.  | 16091 | 3243 |
| Danske Bank AS  | 71120 | 3030 |
| FinecoBank SpA  | 139663 | 3018 |
| Nu Holdings, Ltd., Class A <sup>(a)</sup>  | 174140 | 2788 |
| Ping An Insurance (Group) Co. of China, Ltd., Class H  | 404280 | 2756 |
| DBS Group Holdings, Ltd.  | 67000 | 2657 |
| Brookfield Asset Management, Ltd., Class A (CAD denominated)  | 44450 | 2530 |
| Svenska Handelsbanken AB, Class A  | 193544 | 2516 |
| China Merchants Bank Co., Ltd., Class A  | 268600 | 1525 |
| China Merchants Bank Co., Ltd., Class H  | 122403 | 735 |
| BPER Banca SpA  | 200825 | 2225 |
| Brown & Brown, Inc.  | 22407 | 2102 |
| TPG, Inc., Class A  | 36395 | 2091 |
| HDFC Bank, Ltd.  | 133112 | 1426 |
| HDFC Bank, Ltd. (ADR)  | 17258 | 589 |
| B3 SA - Brasil, Bolsa, Balcao  | 732050 | 1843 |
| CVC Capital Partners PLC  | 101430 | 1765 |

---

American Funds Insurance Series — Page 58 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials (continued)**<br>| Shares | Value<br> (000)<br>|
| American International Group, Inc.  | 22219 | $1745 |
| KKR & Co., Inc.  | 12817 | 1666 |
| National Bank of Canada  | 14828 | 1575 |
| Skandinaviska Enskilda Banken AB, Class A  | 79058 | 1544 |
| Banco Comercial Portugues, SA  | 1692704 | 1497 |
| Federal Home Loan Mortgage Corp. <sup>(a)</sup>  | 122752 | 1445 |
| CaixaBank SA, non-registered shares  | 136195 | 1430 |
| Sumitomo Mitsui Financial Group, Inc.  | 50300 | 1420 |
| IG Group Holdings PLC  | 93625 | 1356 |
| Fannie Mae <sup>(a)</sup>  | 99902 | 1204 |
| Credicorp, Ltd.  | 3689 | 982 |
| Goldman Sachs Group, Inc.  | 1233 | 982 |
| Abu Dhabi Islamic Bank PJSC  | 164126 | 973 |
| Bank Hapoalim BM  | 46715 | 950 |
| Fidelity National Information Services, Inc.  | 11892 | 784 |
| XP, Inc., Class A  | 36512 | 686 |
| Macquarie Group, Ltd.  | 4650 | 675 |
| LPL Financial Holdings, Inc.  | 1643 | 547 |
| Sberbank of Russia PJSC <sup>(c)</sup>  | 3196952 | — <br><sup>(d)</sup><br>|
|  |  | 312973 |
| **Communication services 9.35%** |  |  |
| Alphabet, Inc., Class A  | 122519 | 29784 |
| Alphabet, Inc., Class C  | 96260 | 23444 |
| Meta Platforms, Inc., Class A  | 45657 | 33530 |
| SoftBank Group Corp.  | 169417 | 21406 |
| Netflix, Inc. <sup>(a)</sup>  | 11136 | 13351 |
| Publicis Groupe SA  | 105293 | 10097 |
| NetEase, Inc.  | 212900 | 6478 |
| NetEase, Inc. (ADR)  | 4665 | 709 |
| Singapore Telecommunications, Ltd.  | 2231863 | 7146 |
| AT&T, Inc.  | 237248 | 6700 |
| Orange  | 314585 | 5101 |
| Tencent Holdings, Ltd.  | 58900 | 5018 |
| Bharti Airtel, Ltd.  | 230486 | 4876 |
| Bharti Airtel, Ltd., interim shares  | 7924 | 126 |
| Universal Music Group NV  | 167324 | 4825 |
| SoftBank Corp.  | 3090950 | 4550 |
| Deutsche Telekom AG  | 121106 | 4125 |
| Nintendo Co., Ltd.  | 37200 | 3221 |
| Spotify Technology SA <sup>(a)</sup>  | 4149 | 2896 |
| Comcast Corp., Class A  | 91891 | 2887 |
| Omnicom Group, Inc.  | 18337 | 1495 |
| Walt Disney Co. (The)  | 10921 | 1250 |
|  |  | 193015 |
| **Consumer discretionary 8.86%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup>  | 146093 | 32078 |
| Tesla, Inc. <sup>(a)</sup>  | 30265 | 13460 |
| Trip.com Group, Ltd. (ADR)  | 81904 | 6159 |
| Trip.com Group, Ltd.  | 77436 | 5931 |
| Las Vegas Sands Corp.  | 216981 | 11671 |
| Starbucks Corp.  | 132044 | 11171 |
| Flutter Entertainment PLC <sup>(a)</sup>  | 41831 | 10625 |
| Industria de Diseno Textil SA  | 184552 | 10177 |

---

American Funds Insurance Series — Page 59 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Consumer discretionary (continued)**<br>| Shares | Value<br> (000)<br>|
| Royal Caribbean Cruises, Ltd.  | 30401 | $9837 |
| Compagnie Financiere Richemont SA, Class A  | 50210 | 9562 |
| NEXT PLC  | 43953 | 7315 |
| MercadoLibre, Inc. <sup>(a)</sup>  | 2645 | 6181 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 157370 | 6167 |
| Home Depot, Inc.  | 14849 | 6017 |
| Booking Holdings, Inc.  | 891 | 4811 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 7475 | 4568 |
| Alibaba Group Holding, Ltd. (ADR)  | 20723 | 3704 |
| Hermes International  | 1159 | 2834 |
| Marriott International, Inc., Class A  | 8912 | 2321 |
| D.R. Horton, Inc.  | 11751 | 1991 |
| Restaurant Brands International, Inc. (CAD denominated)  | 28394 | 1822 |
| Hyundai Motor Co.  | 11107 | 1702 |
| InterContinental Hotels Group PLC  | 12632 | 1525 |
| Suzuki Motor Corp.  | 98300 | 1436 |
| Compagnie Generale des Etablissements Michelin  | 39679 | 1423 |
| Ferrari NV (EUR denominated)  | 2794 | 1350 |
| Midea Group Co., Ltd., Class A  | 123300 | 1259 |
| Aristocrat Leisure, Ltd.  | 23418 | 1084 |
| Zensho Holdings Co., Ltd.  | 14800 | 968 |
| Accor SA  | 18023 | 853 |
| Moncler SpA  | 14144 | 828 |
| Compass Group PLC  | 24325 | 827 |
| Dollarama, Inc.  | 4772 | 629 |
| Kering SA  | 1243 | 412 |
| adidas AG  | 1130 | 238 |
|  |  | 182936 |
| **Health care 7.01%** |  |  |
| Eli Lilly and Co.  | 37352 | 28500 |
| Abbott Laboratories  | 120568 | 16149 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 34368 | 13460 |
| UnitedHealth Group, Inc.  | 29815 | 10295 |
| Gilead Sciences, Inc.  | 81334 | 9028 |
| Novo Nordisk AS, Class B  | 161932 | 8778 |
| Stryker Corp.  | 21906 | 8098 |
| Medtronic PLC  | 74738 | 7118 |
| Takeda Pharmaceutical Co., Ltd.  | 189200 | 5521 |
| Sanofi  | 58339 | 5380 |
| Amgen, Inc.  | 14470 | 4083 |
| EssilorLuxottica SA  | 11285 | 3657 |
| Thermo Fisher Scientific, Inc.  | 7404 | 3591 |
| Daiichi Sankyo Co., Ltd.  | 147800 | 3313 |
| Insulet Corp. <sup>(a)</sup>  | 10680 | 3297 |
| Cigna Group (The)  | 6326 | 1823 |
| GE HealthCare Technologies, Inc.  | 21529 | 1617 |
| Molina Healthcare, Inc. <sup>(a)</sup>  | 7751 | 1483 |
| BioMarin Pharmaceutical, Inc. <sup>(a)</sup>  | 24993 | 1354 |
| CVS Health Corp.  | 17836 | 1345 |
| AstraZeneca PLC  | 7502 | 1128 |
| Haleon PLC  | 246030 | 1100 |
| Lonza Group AG  | 1598 | 1058 |
| Boston Scientific Corp. <sup>(a)</sup>  | 10781 | 1053 |
| Rede D'Or Sao Luiz SA  | 122458 | 968 |

---

American Funds Insurance Series — Page 60 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Health care (continued)**<br>| Shares | Value<br> (000)<br>|
| Chugai Pharmaceutical Co., Ltd.  | 17100 | $746 |
| Fresenius SE & Co. KGaA  | 11068 | 616 |
| agilon health, Inc. <sup>(a)</sup>  | 125582 | 129 |
|  |  | 144688 |
| **Materials 5.46%** |  |  |
| Linde PLC  | 26602 | 12636 |
| Vale SA, ordinary nominative shares  | 953515 | 10316 |
| Vale SA (ADR), ordinary nominative shares  | 140029 | 1521 |
| Freeport-McMoRan, Inc.  | 290776 | 11404 |
| Heidelberg Materials AG, non-registered shares  | 39027 | 8777 |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 361115 | 8168 |
| Rio Tinto PLC  | 111900 | 7355 |
| Ivanhoe Mines, Ltd., Class A <sup>(a)</sup>  | 586513 | 6220 |
| Air Products and Chemicals, Inc.  | 18638 | 5083 |
| Corteva, Inc.  | 67409 | 4559 |
| Glencore PLC  | 958289 | 4403 |
| Nippon Steel Corp. <sup>(b)</sup>  | 864500 | 3563 |
| Agnico Eagle Mines, Ltd.  | 20524 | 3457 |
| Antofagasta PLC  | 85714 | 3171 |
| Air Liquide SA  | 14673 | 3047 |
| Southern Copper Corp.  | 22393 | 2718 |
| Smurfit Westrock PLC  | 63371 | 2698 |
| Anglogold Ashanti PLC  | 35571 | 2502 |
| Grupo Mexico, SAB de CV, Series B  | 249486 | 2176 |
| Dow, Inc.  | 84736 | 1943 |
| Lundin Mining Corp.  | 95894 | 1430 |
| CRH PLC  | 10569 | 1267 |
| Franco-Nevada Corp.  | 5675 | 1265 |
| Akzo Nobel NV  | 14752 | 1050 |
| Shin-Etsu Chemical Co., Ltd.  | 28900 | 948 |
| Zijin Gold International Co., Ltd. <sup>(a)</sup>  | 26500 | 411 |
| BASF SE  | 7162 | 356 |
| Evonik Industries AG  | 10116 | 175 |
|  |  | 112619 |
| **Consumer staples 5.01%** |  |  |
| Philip Morris International, Inc.  | 266160 | 43171 |
| British American Tobacco PLC  | 240672 | 12776 |
| Imperial Brands PLC  | 299900 | 12737 |
| Nestle SA  | 118798 | 10905 |
| JBS NV (BDR) <sup>(a)</sup>  | 232446 | 3476 |
| Ajinomoto Co., Inc.  | 120100 | 3448 |
| Ocado Group PLC <sup>(a)</sup>  | 792264 | 2398 |
| Danone SA  | 27147 | 2364 |
| Sysco Corp.  | 23248 | 1914 |
| Kweichow Moutai Co., Ltd., Class A  | 8200 | 1663 |
| Bunge Global SA  | 17875 | 1452 |
| Procter & Gamble Co.  | 7660 | 1177 |
| US Foods Holding Corp. <sup>(a)</sup>  | 14397 | 1103 |
| Arca Continental, SAB de CV  | 87378 | 916 |
| L'Oreal SA, non-registered shares  | 2062 | 892 |
| Loblaw Cos., Ltd.  | 21096 | 816 |
| Coca-Cola Co.  | 11233 | 745 |
| Keurig Dr Pepper, Inc.  | 19565 | 499 |

---

American Funds Insurance Series — Page 61 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Consumer staples (continued)**<br>| Shares | Value<br> (000)<br>|
| Altria Group, Inc.  | 6282 | $415 |
| Walmart, Inc.  | 3000 | 309 |
| Suntory Beverage & Food, Ltd.  | 4300 | 135 |
|  |  | 103311 |
| **Energy 3.82%** |  |  |
| Cameco Corp. (CAD denominated)  | 127926 | 10737 |
| Cameco Corp.  | 38590 | 3236 |
| EOG Resources, Inc.  | 124256 | 13932 |
| Shell PLC (GBP denominated)  | 351910 | 12525 |
| Shell PLC (EUR denominated)  | 14064 | 503 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 330664 | 10573 |
| TC Energy Corp. (CAD denominated)  | 151647 | 8245 |
| Baker Hughes Co., Class A  | 95363 | 4646 |
| BP PLC  | 633071 | 3625 |
| Suncor Energy, Inc.  | 68819 | 2880 |
| Tourmaline Oil Corp. <sup>(b)</sup>  | 54853 | 2366 |
| ConocoPhillips  | 21973 | 2078 |
| Neste OYJ  | 85724 | 1569 |
| Expand Energy Corp.  | 12380 | 1315 |
| ADNOC Drilling Co. PJSC  | 381223 | 584 |
|  |  | 78814 |
| **Utilities 1.61%** |  |  |
| E.ON SE  | 252075 | 4740 |
| Iberdrola SA, non-registered shares  | 231736 | 4382 |
| Southern Co. (The)  | 36516 | 3461 |
| Pinnacle West Capital Corp.  | 36700 | 3291 |
| NextEra Energy, Inc.  | 38632 | 2916 |
| Engie SA  | 134866 | 2890 |
| Dominion Energy, Inc.  | 39815 | 2435 |
| Duke Energy Corp.  | 18764 | 2322 |
| Constellation Energy Corp.  | 6377 | 2098 |
| DTE Energy Co.  | 10779 | 1524 |
| FirstEnergy Corp.  | 24064 | 1103 |
| National Grid PLC  | 73681 | 1058 |
| Public Service Enterprise Group, Inc.  | 11944 | 997 |
|  |  | 33217 |
| **Real estate 0.72%** |  |  |
| Prologis, Inc. REIT  | 43334 | 4963 |
| China Resources Mixc Lifestyle Services, Ltd.  | 924800 | 4913 |
| Simon Property Group, Inc. REIT  | 7668 | 1439 |
| VICI Properties, Inc. REIT  | 39802 | 1298 |
| UDR, Inc. REIT  | 32096 | 1196 |
| Longfor Group Holdings, Ltd. <sup>(b)</sup>  | 668238 | 1020 |
|  |  | 14829 |
| **Total common stocks** (cost: $1,144,346,000) |  | 1995154 |

---

American Funds Insurance Series — Page 62 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Preferred securities 0.30%<br> **Financials 0.30%**<br>| Shares | Value<br> (000)<br>|
| Itau Unibanco Holding SA, preferred nominative shares  | 320549 | $2353 |
| Itau Unibanco Holding SA (ADR), preferred nominative shares  | 219472 | 1611 |
| Fannie Mae, Series S, 8.25% noncumulative preferred shares <sup>(a)</sup>  | 69796 | 1158 |
| Fannie Mae, Series T, 8.25% noncumulative preferred shares <sup>(a)</sup>  | 700 | 11 |
| Federal Home Loan Mortgage Corp., Series Z, 8.375% noncumulative preferred shares <sup>(a)(b)</sup>  | 69041 | 1080 |
| **Total preferred securities** (cost: $5,099,000) |  | 6213 |
| Bonds, notes & other debt instruments 0.07%<br> **Corporate bonds, notes & loans 0.04%**<br> **Financials 0.02%**<br>| Principal amount<br> (000)<br>|  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC 3.369% 12/14/2046 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.50% <br> on 12/14/2041) <sup>(e)</sup>  | USD709 | 526 |
| **Health care 0.02%** |  |  |
| Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026  | 432 | 425 |
| **Total corporate bonds, notes & loans** |  | 951 |
| **Bonds & notes of governments & government agencies outside the U.S. 0.03%**<br> **Brazil 0.03%**<br>|  |  |
| Brazil (Federative Republic of) 10.00% 1/1/2027  | BRL3,300 | 593 |
| **Total bonds & notes of governments & government agencies outside the U.S.** |  | 593 |
| **Total bonds, notes & other debt instruments** (cost: $1,589,000) |  | 1544 |
| Short-term securities 3.08%<br> **Money market investments 2.90%**<br>| Shares |  |
| Capital Group Central Cash Fund 4.17% <sup>(f)(g)</sup>  | 598758 | 59876 |
| **Money market investments purchased with collateral from securities on loan 0.18%** |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(f)(h)</sup>  | 3780220 | 3780 |
| **Total short-term securities** (cost: $63,652,000) |  | 63656 |
| **Total investment securities 100.12%** (cost: $1,214,686,000) |  | 2066567 |
| **Other assets less liabilities (0.12)%** |  | (2569)<br>|
| **Net assets 100.00%** |  | $2063998 |

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 2.90%** | **Short-term securities 2.90%** | **Short-term securities 2.90%** | **Short-term securities 2.90%** | **Short-term securities 2.90%** | **Short-term securities 2.90%** | **Short-term securities 2.90%** | **Short-term securities 2.90%** |
| **Money market investments 2.90%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(f)</sup> <br>| $46673 | &nbsp;&nbsp; $267938 | &nbsp;&nbsp; $254729 | &nbsp;&nbsp; $(3)<br>| &nbsp;&nbsp; $(3)<br>| &nbsp;&nbsp; $59876 | &nbsp;&nbsp; $2307 |

---

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

American Funds Insurance Series — Page 63 of 319

------

**unaudited**

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

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

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

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

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

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

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

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

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

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| BDR = Brazilian Depositary Receipts |
| BRL = Brazilian reais |
| CAD = Canadian dollars |
| CDI = CREST Depository Interest  |
| EUR = Euros |
| GBP = British pounds |
| HKD = Hong Kong dollars |
| REIT = Real Estate Investment Trust |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

American Funds Insurance Series — Page 64 of 319

------

**Growth-Income Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 97.71%<br> **Information technology 30.56%**<br>| Shares | Value<br> (000)<br>|
| Microsoft Corp.  | 6355199 | $3291675 |
| NVIDIA Corp.  | 16585113 | 3094450 |
| Broadcom, Inc.  | 6636411 | 2189418 |
| Apple, Inc.  | 6072252 | 1546178 |
| Applied Materials, Inc.  | 2466195 | 504929 |
| Seagate Technology Holdings PLC  | 1823912 | 430553 |
| Amphenol Corp., Class A  | 3401335 | 420915 |
| Oracle Corp.  | 1469136 | 413180 |
| Cognizant Technology Solutions Corp., Class A  | 3381043 | 226767 |
| Arista Networks, Inc. <sup>(a)</sup>  | 1539967 | 224389 |
| Accenture PLC, Class A  | 888876 | 219197 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 4102000 | 175638 |
| Texas Instruments, Inc.  | 778552 | 143043 |
| Entegris, Inc.  | 1496212 | 138340 |
| Salesforce, Inc.  | 535038 | 126804 |
| AppLovin Corp., Class A <sup>(a)</sup>  | 102313 | 73516 |
| Adobe, Inc. <sup>(a)</sup>  | 163526 | 57684 |
| Palo Alto Networks, Inc. <sup>(a)</sup>  | 220554 | 44909 |
| Marvell Technology, Inc.  | 388780 | 32685 |
| ASML Holding NV  | 28845 | 28044 |
| Corning, Inc.  | 307600 | 25232 |
| QUALCOMM, Inc.  | 141313 | 23509 |
| Micron Technology, Inc.  | 78021 | 13054 |
|  |  | 13444109 |
| **Industrials 15.09%** |  |  |
| RTX Corp.  | 7207131 | 1205969 |
| Automatic Data Processing, Inc.  | 1993331 | 585043 |
| Boeing Co. (The) <sup>(a)</sup>  | 2274948 | 491002 |
| Airbus SE, non-registered shares  | 1921964 | 445429 |
| General Dynamics Corp.  | 1230528 | 419610 |
| General Aerospace Co.  | 1324873 | 398548 |
| GFL Environmental, Inc., subordinate voting shares  | 8290229 | 392791 |
| Carrier Global Corp.  | 6005807 | 358547 |
| Woodward, Inc.  | 1316386 | 332664 |
| XPO, Inc. <sup>(a)</sup>  | 2041994 | 263969 |
| United Rentals, Inc.  | 241349 | 230406 |
| Ingersoll-Rand, Inc.  | 2494401 | 206087 |
| Paychex, Inc.  | 1519430 | 192603 |
| Union Pacific Corp.  | 805833 | 190475 |
| Caterpillar, Inc.  | 397864 | 189841 |
| Honeywell International, Inc.  | 828971 | 174498 |
| L3Harris Technologies, Inc.  | 459926 | 140466 |
| CSX Corp.  | 3114334 | 110590 |
| TransDigm Group, Inc.  | 65897 | 86854 |
| APi Group Corp. <sup>(a)</sup>  | 2399367 | 82466 |

---

American Funds Insurance Series — Page 65 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Industrials (continued)**<br>| Shares | Value<br> (000)<br>|
| Uber Technologies, Inc. <sup>(a)</sup>  | 808903 | $79248 |
| Waste Management, Inc.  | 284081 | 62734 |
|  |  | 6639840 |
| **Financials 12.02%** |  |  |
| JPMorgan Chase & Co.  | 2688581 | 848059 |
| Mastercard, Inc., Class A  | 1071008 | 609200 |
| BlackRock, Inc.  | 504695 | 588409 |
| Wells Fargo & Co.  | 5041337 | 422565 |
| Fidelity National Information Services, Inc.  | 6251502 | 412224 |
| Marsh & McLennan Cos., Inc.  | 1409348 | 284026 |
| Capital One Financial Corp.  | 1018858 | 216589 |
| Progressive Corp.  | 766051 | 189176 |
| Chubb, Ltd.  | 539532 | 152283 |
| Morgan Stanley  | 957257 | 152166 |
| Visa, Inc., Class A  | 445602 | 152120 |
| B3 SA - Brasil, Bolsa, Balcao  | 56528755 | 142324 |
| Goldman Sachs Group, Inc.  | 174257 | 138770 |
| Berkshire Hathaway, Inc., Class B <sup>(a)</sup>  | 269334 | 135405 |
| Arthur J. Gallagher & Co.  | 374193 | 115902 |
| Pinnacle Financial Partners, Inc.  | 1131294 | 106104 |
| PNC Financial Services Group, Inc.  | 520903 | 104665 |
| American Express Co.  | 309479 | 102796 |
| S&P Global, Inc.  | 165000 | 80307 |
| State Street Corp.  | 681940 | 79112 |
| CME Group, Inc., Class A  | 292470 | 79022 |
| PayPal Holdings, Inc. <sup>(a)</sup>  | 1086902 | 72888 |
| Apollo Asset Management, Inc.  | 373721 | 49806 |
| American International Group, Inc.  | 589811 | 46324 |
| Sony Financial Group, Inc.  | 5225500 | 5795 |
|  |  | 5286037 |
| **Consumer discretionary 10.76%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup>  | 8435106 | 1852096 |
| Starbucks Corp.  | 6201240 | 524625 |
| Royal Caribbean Cruises, Ltd.  | 1172076 | 379260 |
| Wyndham Hotels & Resorts, Inc. <sup>(b)</sup>  | 4703154 | 375782 |
| Home Depot, Inc.  | 851415 | 344985 |
| Tesla, Inc. <sup>(a)</sup>  | 738592 | 328467 |
| Las Vegas Sands Corp.  | 5713687 | 307339 |
| Sony Group Corp.  | 5225500 | 150491 |
| Viking Holdings, Ltd. <sup>(a)</sup>  | 2360527 | 146730 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 2131290 | 83525 |
| TJX Cos., Inc. (The)  | 495864 | 71672 |
| Carvana Co., Class A <sup>(a)</sup>  | 122390 | 46171 |
| DoorDash, Inc., Class A <sup>(a)</sup>  | 155002 | 42159 |
| YUM! Brands, Inc.  | 272921 | 41484 |
| Hilton Worldwide Holdings, Inc.  | 151393 | 39278 |
|  |  | 4734064 |
| **Health care 8.78%** |  |  |
| Eli Lilly and Co.  | 1621275 | 1237033 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 1332879 | 522009 |
| AbbVie, Inc.  | 1684603 | 390053 |
| UnitedHealth Group, Inc.  | 1096629 | 378666 |

---

American Funds Insurance Series — Page 66 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Health care (continued)**<br>| Shares | Value<br> (000)<br>|
| Abbott Laboratories  | 2330871 | $312197 |
| Cigna Group (The)  | 476392 | 137320 |
| Thermo Fisher Scientific, Inc.  | 277075 | 134387 |
| Cencora, Inc.  | 401982 | 125631 |
| Sanofi  | 940395 | 86725 |
| Gilead Sciences, Inc.  | 715085 | 79375 |
| Johnson & Johnson  | 426488 | 79079 |
| Intuitive Surgical, Inc. <sup>(a)</sup>  | 129867 | 58080 |
| Stryker Corp.  | 138782 | 51304 |
| Insulet Corp. <sup>(a)</sup>  | 162641 | 50212 |
| Danaher Corp.  | 250263 | 49617 |
| GE HealthCare Technologies, Inc.  | 582499 | 43746 |
| Amgen, Inc.  | 151000 | 42612 |
| CVS Health Corp.  | 535085 | 40340 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 49075 | 22378 |
| Medtronic PLC  | 210000 | 20000 |
|  |  | 3860764 |
| **Communication services 8.01%** |  |  |
| Meta Platforms, Inc., Class A  | 2280670 | 1674878 |
| Alphabet, Inc., Class A  | 3942665 | 958462 |
| Alphabet, Inc., Class C  | 1489089 | 362668 |
| Netflix, Inc. <sup>(a)</sup>  | 222930 | 267275 |
| SoftBank Group Corp.  | 1166295 | 147359 |
| Universal Music Group NV  | 3239458 | 93409 |
| Comcast Corp., Class A  | 624053 | 19608 |
|  |  | 3523659 |
| **Energy 3.23%** |  |  |
| Baker Hughes Co., Class A  | 8415638 | 410010 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 9452456 | 302245 |
| Exxon Mobil Corp.  | 2651600 | 298968 |
| Expand Energy Corp.  | 1009573 | 107257 |
| TC Energy Corp.  | 1629755 | 88675 |
| Chevron Corp.  | 444985 | 69101 |
| EOG Resources, Inc.  | 575078 | 64478 |
| Halliburton Co.  | 1672003 | 41131 |
| ConocoPhillips  | 434738 | 41122 |
|  |  | 1422987 |
| **Consumer staples 3.02%** |  |  |
| British American Tobacco PLC  | 11381282 | 604155 |
| Procter & Gamble Co.  | 1335935 | 205266 |
| Philip Morris International, Inc.  | 1042193 | 169044 |
| Imperial Brands PLC  | 3175378 | 134864 |
| Coca-Cola Co.  | 1998069 | 132512 |
| Mondelez International, Inc., Class A  | 851894 | 53218 |
| Keurig Dr Pepper, Inc.  | 1164623 | 29710 |
|  |  | 1328769 |
| **Materials 2.46%** |  |  |
| Air Products and Chemicals, Inc.  | 1408433 | 384108 |
| International Paper Co.  | 5806574 | 269425 |
| Linde PLC  | 565683 | 268699 |
| Eastman Chemical Co.  | 1334619 | 84148 |

---

American Funds Insurance Series — Page 67 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Materials (continued)**<br>| Shares | Value<br> (000)<br>|
| Freeport-McMoRan, Inc.  | 983347 | $38567 |
| LyondellBasell Industries NV  | 769974 | 37760 |
|  |  | 1082707 |
| **Utilities 2.07%** |  |  |
| Dominion Energy, Inc.  | 5379096 | 329039 |
| PG&E Corp.  | 12562973 | 189450 |
| Entergy Corp.  | 1337004 | 124595 |
| CenterPoint Energy, Inc.  | 3037684 | 117862 |
| NextEra Energy, Inc.  | 1051314 | 79364 |
| Sempra  | 800000 | 71984 |
|  |  | 912294 |
| **Real estate 1.71%** |  |  |
| VICI Properties, Inc. REIT  | 10163137 | 331420 |
| Equinix, Inc. REIT  | 235188 | 184209 |
| Prologis, Inc. REIT  | 866060 | 99181 |
| American Tower Corp. REIT  | 428106 | 82333 |
| Welltower, Inc. REIT  | 306310 | 54566 |
|  |  | 751709 |
| **Total common stocks** (cost: $22,430,629,000) |  | 42986939 |
| Bonds, notes & other debt instruments 0.00%<br> **Corporate bonds, notes & loans 0.00%**<br> **Consumer discretionary 0.00%**<br>| Principal amount<br> (000)<br>|  |
| General Motors Financial Co., Inc. 5.25% 3/1/2026  | USD827 | 828 |
| **Total bonds, notes & other debt instruments** (cost: $816,000) |  | 828 |
| Short-term securities 2.37%<br> **Money market investments 2.37%**<br>| Shares |  |
| Capital Group Central Cash Fund 4.17% <sup>(b)(c)</sup>  | 10422314 | 1042231 |
| **Total short-term securities** (cost: $1,042,145,000) |  | 1042231 |
| **Total investment securities 100.08%** (cost: $23,473,590,000) |  | 44029998 |
| **Other assets less liabilities (0.08)%** |  | (34908)<br>|
| **Net assets 100.00%** |  | $43995090 |

---

American Funds Insurance Series — Page 68 of 319

------

**unaudited**

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Common stocks 0.85%** | **Common stocks 0.85%** | **Common stocks 0.85%** | **Common stocks 0.85%** | **Common stocks 0.85%** | **Common stocks 0.85%** | **Common stocks 0.85%** | **Common stocks 0.85%** |
| **Consumer discretionary 0.85%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc.  | $509003 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $32068 | &nbsp;&nbsp; $6460 | &nbsp;&nbsp; $(107613)<br>| &nbsp;&nbsp; $375782 | &nbsp;&nbsp; $5785 |
| **Short-term securities 2.37%** | **Short-term securities 2.37%** | **Short-term securities 2.37%** | **Short-term securities 2.37%** | **Short-term securities 2.37%** | **Short-term securities 2.37%** | **Short-term securities 2.37%** | **Short-term securities 2.37%** |
| **Money market investments 2.37%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(c)</sup> <br>| 1471964 | &nbsp;&nbsp; 5556939 | &nbsp;&nbsp; 5986426 | &nbsp;&nbsp; (148)<br>| &nbsp;&nbsp; (98)<br>| &nbsp;&nbsp; 1042231 | &nbsp;&nbsp; 46622 |
| **Total 3.22%** |  |  |  | &nbsp;&nbsp; $6312 | &nbsp;&nbsp; $(107711)<br>| &nbsp;&nbsp; $1418013 | &nbsp;&nbsp; $52407 |

---

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

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

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

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

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| CAD = Canadian dollars |
| REIT = Real Estate Investment Trust |
| USD = U.S. dollars |

---

American Funds Insurance Series — Page 69 of 319

------

**International Growth and Income Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 97.58%<br> **Financials 24.13%**<br>| Shares | Value<br> (000)<br>|
| UniCredit SpA  | 84639 | $6406 |
| Societe Generale  | 84120 | 5566 |
| AXA SA  | 95165 | 4541 |
| Banco Bilbao Vizcaya Argentaria SA  | 208749 | 4005 |
| Skandinaviska Enskilda Banken AB, Class A  | 192564 | 3761 |
| CaixaBank SA, non-registered shares  | 342667 | 3599 |
| HSBC Holdings PLC (GBP denominated)  | 186528 | 2622 |
| HSBC Holdings PLC (HKD denominated)  | 57200 | 804 |
| Zurich Insurance Group AG  | 4361 | 3104 |
| AIA Group, Ltd.  | 305200 | 2928 |
| KB Financial Group, Inc.  | 33991 | 2798 |
| Banco Santander SA  | 248229 | 2586 |
| Deutsche Bank AG  | 73064 | 2569 |
| Prudential PLC  | 178266 | 2496 |
| Resona Holdings, Inc.  | 215500 | 2201 |
| Bank Hapoalim BM  | 99946 | 2031 |
| DBS Group Holdings, Ltd.  | 51124 | 2027 |
| Aviva PLC  | 213700 | 1971 |
| Euronext NV  | 13153 | 1967 |
| PICC Property and Casualty Co., Ltd., Class H  | 860000 | 1941 |
| NatWest Group PLC  | 273562 | 1919 |
| HDFC Bank, Ltd.  | 178694 | 1914 |
| Bank Leumi le-Israel BM  | 85830 | 1692 |
| Allianz SE  | 3670 | 1540 |
| London Stock Exchange Group PLC  | 13130 | 1504 |
| Munchener Ruckversicherungs-Gesellschaft AG  | 2357 | 1504 |
| Hana Financial Group, Inc.  | 24157 | 1501 |
| Ping An Insurance (Group) Co. of China, Ltd., Class H  | 198500 | 1353 |
| Tokio Marine Holdings, Inc.  | 31300 | 1327 |
| Japan Post Bank Co., Ltd.  | 107247 | 1316 |
| Kotak Mahindra Bank, Ltd.  | 56842 | 1276 |
| 3i Group PLC  | 22022 | 1211 |
| Aon PLC, Class A  | 2978 | 1062 |
| Pluxee NV  | 53432 | 948 |
| Hiscox, Ltd.  | 48317 | 890 |
| Abu Dhabi Islamic Bank PJSC  | 145770 | 864 |
| CVC Capital Partners PLC  | 48398 | 842 |
| Mizuho Financial Group, Inc.  | 24500 | 826 |
| Tryg A/S  | 31592 | 801 |
| People's Insurance Co. (Group) of China, Ltd. (The), Class H  | 908000 | 795 |
| T&D Holdings, Inc.  | 32200 | 789 |
| XP, Inc., Class A  | 40429 | 760 |
| Etoro Group, Ltd., Class A <sup>(a)</sup>  | 18291 | 755 |
| Canadian Imperial Bank of Commerce  | 9410 | 752 |
| Adyen NV <sup>(a)</sup>  | 463 | 742 |
| Macquarie Group, Ltd.  | 5050 | 733 |

---

American Funds Insurance Series — Page 70 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials (continued)**<br>| Shares | Value<br> (000)<br>|
| Credicorp, Ltd.  | 2742 | $730 |
| ICICI Bank, Ltd. (ADR)  | 21784 | 659 |
| Partners Group Holding AG  | 501 | 650 |
| Axis Bank, Ltd.  | 50991 | 650 |
| Plus500, Ltd.  | 13602 | 589 |
| Grupo Financiero Banorte, SAB de CV, Series O  | 56281 | 567 |
| Brookfield Corp., Class A (CAD denominated)  | 8081 | 554 |
| Samsung Life Insurance Co., Ltd.  | 4375 | 488 |
| ING Groep NV  | 18802 | 487 |
| Saudi National Bank (The)  | 45722 | 478 |
| Mediobanca SpA <sup>(b)</sup>  | 22974 | 465 |
| Intesa Sanpaolo SpA  | 66761 | 440 |
| Sampo Oyj, Class A  | 36843 | 423 |
| Standard Chartered PLC  | 20539 | 396 |
| Hong Kong Exchanges and Clearing, Ltd.  | 6800 | 386 |
| Grupo Financiero Inbursa, SAB de CV  | 139929 | 385 |
| Abu Dhabi Commercial Bank PJSC  | 95676 | 380 |
| MS&AD Insurance Group Holdings, Inc. <sup>(b)</sup>  | 16000 | 363 |
| Edenred SA  | 15210 | 361 |
| Banca Generali SpA  | 5978 | 333 |
| Bank Central Asia Tbk PT  | 640400 | 293 |
| Hang Seng Bank, Ltd.  | 11800 | 180 |
| Medibank Private, Ltd.  | 34548 | 110 |
| Sberbank of Russia PJSC <sup>(c)</sup>  | 476388 | — <br><sup>(d)</sup><br>|
|  |  | 99906 |
| **Industrials 16.14%** |  |  |
| BAE Systems PLC  | 315587 | 8739 |
| Airbus SE, non-registered shares  | 30393 | 7044 |
| Ryanair Holdings PLC (ADR)  | 78393 | 4721 |
| ABB, Ltd.  | 42432 | 3055 |
| Siemens AG  | 10816 | 2911 |
| Safran SA  | 7230 | 2547 |
| Rheinmetall AG, non-registered shares  | 1072 | 2498 |
| ITOCHU Corp.  | 36900 | 2102 |
| Deutsche Post AG  | 44386 | 1977 |
| Hitachi, Ltd.  | 73300 | 1948 |
| Kanzhun, Ltd., Class A (ADR)  | 67125 | 1568 |
| Kanzhun, Ltd., Class A  | 16700 | 195 |
| Epiroc AB, Class B  | 42138 | 794 |
| Epiroc AB, Class A  | 33699 | 710 |
| RELX PLC  | 31122 | 1489 |
| Motiva Infraestrutura de Mobilidade SA  | 527399 | 1475 |
| DSV A/S  | 7362 | 1464 |
| Diploma PLC  | 18477 | 1318 |
| Copa Holdings SA, Class A  | 10519 | 1250 |
| Canadian National Railway Co. (CAD denominated)  | 13123 | 1238 |
| Singapore Technologies Engineering, Ltd.  | 166300 | 1110 |
| Volvo AB, Class B  | 38529 | 1103 |
| ASSA ABLOY AB, Class B  | 31106 | 1079 |
| Deutsche Lufthansa AG  | 125543 | 1062 |
| Compagnie de Saint-Gobain SA, non-registered shares  | 9579 | 1031 |
| Alliance Global Group, Inc.  | 7546600 | 985 |
| Rolls-Royce Holdings PLC  | 58863 | 942 |
| SMC Corp.  | 2800 | 860 |

---

American Funds Insurance Series — Page 71 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Industrials (continued)**<br>| Shares | Value<br> (000)<br>|
| SPIE SA  | 15811 | $850 |
| Grupo Aeroportuario del Pacifico, SAB de CV, Class B  | 34778 | 822 |
| Full Truck Alliance Co., Ltd., Class A (ADR)  | 58034 | 753 |
| SGH, Ltd.  | 22721 | 751 |
| Komatsu, Ltd.  | 20200 | 705 |
| Bombardier, Inc., Class B <sup>(a)</sup>  | 4974 | 697 |
| Brambles, Ltd.  | 35049 | 575 |
| Caterpillar, Inc.  | 1195 | 570 |
| IHI Corp.  | 28000 | 523 |
| Kingspan Group PLC  | 6123 | 509 |
| Daikin Industries, Ltd.  | 4000 | 462 |
| Mitsui & Co., Ltd.  | 15800 | 393 |
| Wolters Kluwer NV  | 2809 | 383 |
| International Consolidated Airlines Group SA (CDI)  | 66727 | 347 |
| Jiangsu Hengli Hydraulic Co., Ltd., Class A  | 24300 | 327 |
| Ashtead Group PLC  | 4720 | 315 |
| Salik Company P.J.S.C.  | 187402 | 307 |
| International Container Terminal Services, Inc.  | 32510 | 263 |
| Wizz Air Holdings PLC <sup>(a)</sup>  | 3748 | 58 |
|  |  | 66825 |
| **Information technology 11.92%** |  |  |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 404000 | 17298 |
| ASML Holding NV  | 7762 | 7547 |
| Samsung Electronics Co., Ltd.  | 75594 | 4520 |
| MediaTek, Inc.  | 75000 | 3236 |
| Broadcom, Inc.  | 8136 | 2684 |
| SAP SE  | 8844 | 2366 |
| NEC Corp.  | 56700 | 1817 |
| ASMPT, Ltd.  | 137500 | 1450 |
| SK hynix, Inc.  | 4609 | 1142 |
| Sage Group PLC (The)  | 66028 | 977 |
| Capgemini SE  | 6628 | 961 |
| ASM International NV  | 1296 | 777 |
| Fujitsu, Ltd.  | 32200 | 759 |
| Tokyo Electron, Ltd.  | 3900 | 695 |
| Halma PLC  | 14099 | 654 |
| Bechtle AG, non-registered shares <sup>(b)</sup>  | 12592 | 580 |
| Jentech Precision Industrial Co., Ltd.  | 5000 | 415 |
| E Ink Holdings, Inc.  | 45000 | 355 |
| Keyence Corp.  | 800 | 299 |
| Lumine Group, Inc., subordinate voting shares <sup>(a)</sup>  | 10019 | 295 |
| eMemory Technology, Inc.  | 3000 | 198 |
| Newgen Software Technologies, Ltd.  | 13433 | 135 |
| SCSK Corp.  | 4000 | 120 |
| Tata Consultancy Services, Ltd.  | 1962 | 64 |
|  |  | 49344 |
| **Consumer discretionary 9.25%** |  |  |
| Industria de Diseno Textil SA  | 89590 | 4941 |
| Trip.com Group, Ltd. (ADR)  | 37354 | 2809 |
| Trip.com Group, Ltd.  | 10450 | 800 |
| Prosus NV, Class N  | 48977 | 3447 |
| Renault SA  | 67213 | 2746 |
| MGM China Holdings, Ltd.  | 1189600 | 2542 |

---

American Funds Insurance Series — Page 72 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Consumer discretionary (continued)**<br>| Shares | Value<br> (000)<br>|
| LVMH Moet Hennessy-Louis Vuitton SE  | 2946 | $1800 |
| Amadeus IT Group SA, Class A, non-registered shares  | 17330 | 1373 |
| Aristocrat Leisure, Ltd.  | 28485 | 1319 |
| Nitori Holdings Co., Ltd.  | 60500 | 1167 |
| ANTA Sports Products, Ltd.  | 93200 | 1120 |
| Evolution AB  | 13052 | 1072 |
| Entain PLC  | 85149 | 1001 |
| Midea Group Co., Ltd., Class A  | 95500 | 975 |
| B&M European Value Retail SA  | 267982 | 943 |
| H World Group, Ltd. (ADR)  | 21412 | 837 |
| Hyundai Motor Co.  | 5056 | 775 |
| Compagnie Financiere Richemont SA, Class A  | 4066 | 774 |
| Suzuki Motor Corp.  | 52400 | 766 |
| InterContinental Hotels Group PLC  | 6182 | 746 |
| Dixon Technologies (India), Ltd.  | 3123 | 574 |
| Games Workshop Group PLC  | 2664 | 521 |
| Galaxy Entertainment Group, Ltd.  | 93361 | 515 |
| Meituan, Class B <sup>(a)</sup>  | 38300 | 514 |
| Berkeley Group Holdings PLC  | 9816 | 506 |
| Restaurant Brands International, Inc. (CAD denominated)  | 7700 | 494 |
| Accor SA  | 9722 | 460 |
| D'Ieteren Group  | 2461 | 460 |
| Paltac Corp.  | 14300 | 448 |
| Alibaba Group Holding, Ltd. (ADR)  | 2372 | 424 |
| Amber Enterprises India, Ltd. <sup>(a)</sup>  | 4639 | 423 |
| Maruti Suzuki India, Ltd.  | 1989 | 359 |
| BYD Co., Ltd., Class A  | 19200 | 295 |
| Moncler SpA  | 3525 | 206 |
| Jumbo SA  | 3722 | 128 |
|  |  | 38280 |
| **Consumer staples 8.38%** |  |  |
| British American Tobacco PLC  | 129151 | 6856 |
| Nestle SA  | 51545 | 4731 |
| Philip Morris International, Inc.  | 27823 | 4513 |
| Imperial Brands PLC  | 81311 | 3454 |
| Pernod Ricard SA  | 25207 | 2472 |
| Carlsberg A/S, Class B  | 14012 | 1628 |
| Carrefour SA, non-registered shares  | 92769 | 1405 |
| L'Oreal SA, non-registered shares  | 3146 | 1361 |
| Arca Continental, SAB de CV  | 129348 | 1356 |
| KT&G Corp.  | 14091 | 1342 |
| Danone SA  | 13637 | 1187 |
| Anheuser-Busch InBev SA/NV  | 15818 | 944 |
| Yamazaki Baking Co., Ltd.  | 40500 | 902 |
| Kweichow Moutai Co., Ltd., Class A  | 3290 | 667 |
| Ocado Group PLC <sup>(a)</sup>  | 175541 | 531 |
| Unilever PLC  | 8946 | 529 |
| Tsingtao Brewery Co., Ltd., Class H  | 69738 | 475 |
| United Spirits, Ltd.  | 24418 | 364 |
|  |  | 34717 |

---

American Funds Insurance Series — Page 73 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Materials 7.01%**<br>| Shares | Value<br> (000)<br>|
| Barrick Mining Corp.  | 146352 | $4796 |
| Glencore PLC  | 471884 | 2168 |
| Linde PLC  | 4441 | 2109 |
| BASF SE  | 42088 | 2095 |
| Agnico Eagle Mines, Ltd.  | 11616 | 1956 |
| Valterra Platinum, Ltd. (ZAR denominated)  | 22483 | 1608 |
| Valterra Platinum, Ltd. (GBP denominated)  | 1235 | 88 |
| Heidelberg Materials AG, non-registered shares  | 7418 | 1668 |
| Vale SA (ADR), ordinary nominative shares  | 82671 | 898 |
| Vale SA, ordinary nominative shares  | 32911 | 356 |
| Shin-Etsu Chemical Co., Ltd.  | 33500 | 1099 |
| Anhui Conch Cement Co., Ltd., Class H  | 362000 | 1093 |
| Norsk Hydro ASA  | 145582 | 986 |
| Mitsubishi Chemical Group Corp. <sup>(b)</sup>  | 156200 | 899 |
| Southern Copper Corp.  | 7399 | 898 |
| Grupo Mexico, SAB de CV, Series B  | 102134 | 891 |
| Nutrien, Ltd. (CAD denominated)  | 13615 | 800 |
| Rio Tinto PLC  | 11494 | 756 |
| Air Liquide SA  | 3398 | 706 |
| Impala Platinum Holdings, Ltd.  | 51330 | 655 |
| Franco-Nevada Corp. (CAD denominated)  | 2647 | 589 |
| Saudi Basic Industries Corp., non-registered shares  | 29425 | 483 |
| Anglo American PLC  | 10633 | 398 |
| Smurfit Westrock PLC  | 7365 | 314 |
| Fortescue, Ltd.  | 23624 | 292 |
| Givaudan SA  | 47 | 191 |
| Freeport-McMoRan, Inc.  | 3152 | 124 |
| Zijin Gold International Co., Ltd. <sup>(a)</sup>  | 5700 | 88 |
| Sika AG  | 131 | 29 |
| Alrosa PJSC <sup>(c)</sup>  | 53607 | — <br><sup>(d)</sup><br>|
|  |  | 29033 |
| **Communication services 6.83%** |  |  |
| Koninklijke KPN NV  | 831743 | 3991 |
| Singapore Telecommunications, Ltd.  | 980300 | 3138 |
| Tencent Holdings, Ltd.  | 32500 | 2769 |
| Orange  | 166506 | 2700 |
| Publicis Groupe SA  | 24388 | 2339 |
| Nintendo Co., Ltd.  | 17500 | 1515 |
| Bharti Airtel, Ltd.  | 63993 | 1354 |
| BT Group PLC  | 487447 | 1253 |
| Nippon Television Holdings, Inc.  | 43500 | 1161 |
| NetEase, Inc.  | 34200 | 1041 |
| Swisscom AG <sup>(a)</sup>  | 1375 | 997 |
| MTN Group, Ltd.  | 105156 | 883 |
| Deutsche Telekom AG  | 23391 | 797 |
| America Movil, SAB de CV, Class B (ADR)  | 37226 | 782 |
| HYBE Co., Ltd.  | 3666 | 695 |
| Universal Music Group NV  | 20503 | 591 |
| Spotify Technology SA <sup>(a)</sup>  | 753 | 525 |
| KT Corp. (ADR)  | 22340 | 436 |
| Advanced Info Service PCL, foreign registered shares  | 46300 | 415 |
| Indus Towers, Ltd. <sup>(a)</sup>  | 100320 | 387 |

---

American Funds Insurance Series — Page 74 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Communication services (continued)**<br>| Shares | Value<br> (000)<br>|
| Bezeq - The Israel Telecommunication Corp., Ltd.  | 190801 | $366 |
| Vend Marketplaces ASA, Class A  | 4613 | 164 |
|  |  | 28299 |
| **Health care 6.11%** |  |  |
| Sanofi  | 67934 | 6265 |
| AstraZeneca PLC  | 38740 | 5826 |
| EssilorLuxottica SA  | 11193 | 3627 |
| Novo Nordisk AS, Class B  | 31538 | 1709 |
| Grifols SA, Class B (ADR)  | 117730 | 1173 |
| bioMerieux SA  | 8189 | 1094 |
| Chugai Pharmaceutical Co., Ltd.  | 24700 | 1077 |
| Bayer AG  | 29665 | 983 |
| Roche Holding AG, nonvoting non-registered shares  | 2659 | 868 |
| Haleon PLC  | 180035 | 805 |
| Genus PLC  | 15707 | 501 |
| Jiangsu Hengrui Pharmaceutical Co., Ltd., Class H <sup>(a)</sup>  | 40200 | 459 |
| Max Healthcare Institute, Ltd.  | 29393 | 369 |
| Fresenius SE & Co. KGaA  | 6345 | 353 |
| HOYA Corp.  | 1300 | 180 |
| Euroapi SA <sup>(a)</sup>  | 1412 | 5 |
|  |  | 25294 |
| **Energy 4.56%** |  |  |
| TotalEnergies SE  | 98125 | 5959 |
| Cameco Corp. (CAD denominated)  | 32255 | 2707 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 59390 | 1899 |
| Shell PLC (GBP denominated)  | 50161 | 1785 |
| Cenovus Energy, Inc. (CAD denominated)  | 82975 | 1409 |
| Cenovus Energy, Inc.  | 12772 | 217 |
| Repsol SA, non-registered shares  | 46645 | 825 |
| Gaztransport & Technigaz SA  | 4044 | 748 |
| BP PLC  | 125928 | 721 |
| TC Energy Corp. (CAD denominated)  | 13044 | 709 |
| Schlumberger NV  | 18003 | 619 |
| ADNOC Drilling Co. PJSC  | 316861 | 486 |
| Petroleo Brasileiro SA PETROBRAS (ADR), ordinary nominative shares  | 36538 | 463 |
| Tourmaline Oil Corp.  | 6381 | 275 |
| South Bow Corp.  | 2470 | 70 |
| Sovcomflot PAO <sup>(a)(c)</sup>  | 356717 | — <br><sup>(d)</sup><br>|
|  |  | 18892 |
| **Utilities 2.06%** |  |  |
| Iberdrola SA, non-registered shares  | 109410 | 2069 |
| RWE AG  | 44611 | 1981 |
| Engie SA  | 79617 | 1706 |
| SSE PLC  | 65463 | 1533 |
| Brookfield Infrastructure Partners, LP  | 18962 | 625 |
| CPFL Energia SA  | 52802 | 391 |
| Veolia Environnement SA  | 7156 | 243 |
|  |  | 8548 |

---

American Funds Insurance Series — Page 75 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Real estate 1.19%**<br>| Shares | Value<br> (000)<br>|
| Mitsubishi Estate Co., Ltd.  | 42800 | $985 |
| Prologis Property Mexico, SA de CV, REIT  | 191224 | 783 |
| CK Asset Holdings, Ltd.  | 128000 | 620 |
| Henderson Land Development Co., Ltd.  | 171000 | 603 |
| Link REIT  | 96868 | 498 |
| Sun Hung Kai Properties, Ltd.  | 36000 | 431 |
| CapitaLand Integrated Commercial Trust REIT  | 223000 | 396 |
| Longfor Group Holdings, Ltd.  | 248742 | 380 |
| Goodman Logistics (HK), Ltd. REIT  | 10467 | 227 |
|  |  | 4923 |
| **Total common stocks** (cost: $281,909,000) |  | 404061 |
| Preferred securities 0.05%<br> **Materials 0.05%**<br>|  |  |
| Gerdau SA, preferred nominative shares  | 58932 | 184 |
| **Total preferred securities** (cost: $222,000) |  | 184 |
| Short-term securities 2.21%<br> **Money market investments 2.00%**<br>|  |  |
| Capital Group Central Cash Fund 4.17% <sup>(e)(f)</sup>  | 82696 | 8270 |
| **Money market investments purchased with collateral from securities on loan 0.21%** |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(e)(g)</sup>  | 893558 | 893 |
| **Total short-term securities** (cost: $9,161,000) |  | 9163 |
| **Total investment securities 99.84%** (cost: $291,292,000) |  | 413408 |
| **Other assets less liabilities 0.16%** |  | 673 |
| **Net assets 100.00%** |  | $414081 |

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 2.00%** | **Short-term securities 2.00%** | **Short-term securities 2.00%** | **Short-term securities 2.00%** | **Short-term securities 2.00%** | **Short-term securities 2.00%** | **Short-term securities 2.00%** | **Short-term securities 2.00%** |
| **Money market investments 2.00%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(e)</sup> <br>| $11674 | &nbsp;&nbsp; $63949 | &nbsp;&nbsp; $67353 | &nbsp;&nbsp; $2 | &nbsp;&nbsp; $(2)<br>| &nbsp;&nbsp; $8270 | &nbsp;&nbsp; $388 |

---

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

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

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

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

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

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

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

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

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

American Funds Insurance Series — Page 76 of 319

------

**unaudited**

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |
| CDI = CREST Depository Interest  |
| GBP = British pounds |
| HKD = Hong Kong dollars |
| REIT = Real Estate Investment Trust |
| ZAR = South African rand |

---

American Funds Insurance Series — Page 77 of 319

------

**Capital Income Builder**<sup>®</sup>

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 77.28%<br> **Financials 15.56%**<br>| Shares | Value<br> (000)<br>|
| JPMorgan Chase & Co.  | 82869 | $26139 |
| Morgan Stanley  | 107689 | 17118 |
| Zurich Insurance Group AG  | 18946 | 13485 |
| ING Groep NV  | 482689 | 12510 |
| NatWest Group PLC  | 1678162 | 11772 |
| Munchener Ruckversicherungs-Gesellschaft AG  | 16706 | 10658 |
| DBS Group Holdings, Ltd.  | 258116 | 10235 |
| Wells Fargo & Co.  | 121184 | 10158 |
| BlackRock, Inc.  | 8316 | 9695 |
| PNC Financial Services Group, Inc.  | 33834 | 6798 |
| Banco Santander SA  | 635404 | 6620 |
| Tokio Marine Holdings, Inc.  | 150900 | 6397 |
| Truist Financial Corp.  | 133958 | 6125 |
| KB Financial Group, Inc.  | 67948 | 5594 |
| AIA Group, Ltd.  | 470400 | 4512 |
| Sampo Oyj, Class A  | 377283 | 4331 |
| American International Group, Inc.  | 53918 | 4235 |
| TPG, Inc., Class A  | 73692 | 4234 |
| National Bank of Canada <sup>(a)</sup>  | 33804 | 3591 |
| Euronext NV  | 23197 | 3470 |
| East West Bancorp, Inc.  | 32501 | 3460 |
| BNP Paribas SA  | 37107 | 3369 |
| Hana Financial Group, Inc.  | 53940 | 3352 |
| PICC Property and Casualty Co., Ltd., Class H  | 1448000 | 3267 |
| UniCredit SpA  | 42782 | 3238 |
| Banco Bilbao Vizcaya Argentaria SA  | 168047 | 3224 |
| Power Corp. of Canada, subordinate voting shares <sup>(a)</sup>  | 73554 | 3183 |
| Toronto-Dominion Bank (The) (CAD denominated)  | 38971 | 3116 |
| Intact Financial Corp.  | 15853 | 3084 |
| Progressive Corp.  | 11650 | 2877 |
| 360 ONE WAM, Ltd.  | 229731 | 2650 |
| Apollo Asset Management, Inc.  | 18236 | 2430 |
| Mizuho Financial Group, Inc.  | 64500 | 2176 |
| EFG International AG  | 105100 | 2136 |
| Skandinaviska Enskilda Banken AB, Class A  | 108223 | 2114 |
| Marsh & McLennan Cos., Inc.  | 10404 | 2097 |
| Webster Financial Corp.  | 35043 | 2083 |
| Swiss Re AG  | 10507 | 1941 |
| Banco BPM SpA  | 128347 | 1918 |
| Kaspi.kz JSC (ADR)  | 21756 | 1777 |
| Deutsche Bank AG  | 49208 | 1730 |
| Hong Kong Exchanges and Clearing, Ltd.  | 29000 | 1647 |
| CME Group, Inc., Class A  | 5612 | 1516 |
| State Street Corp.  | 11577 | 1343 |
| 3i Group PLC  | 24137 | 1327 |
| BPER Banca SpA  | 113466 | 1257 |

---

American Funds Insurance Series — Page 78 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials (continued)**<br>| Shares | Value<br> (000)<br>|
| Japan Post Bank Co., Ltd.  | 98700 | $1211 |
| SouthState Bank Corp.  | 12116 | 1198 |
| Standard Chartered PLC  | 56936 | 1099 |
| Canadian Imperial Bank of Commerce <sup>(a)</sup>  | 13110 | 1048 |
| Patria Investments, Ltd., Class A  | 70098 | 1023 |
| Citizens Financial Group, Inc.  | 18680 | 993 |
| Equitable Holdings, Inc.  | 16750 | 851 |
| Western Union Co.  | 98671 | 788 |
| Vontobel Holding AG  | 10189 | 767 |
| Bank Central Asia Tbk PT  | 1673400 | 766 |
| Resona Holdings, Inc.  | 62400 | 637 |
| Houlihan Lokey, Inc., Class A  | 2796 | 574 |
| Medibank Private, Ltd.  | 134820 | 430 |
| Sberbank of Russia PJSC <sup>(b)</sup>  | 204176 | — <br><sup>(c)</sup><br>|
|  |  | 251374 |
| **Information technology 10.95%** |  |  |
| Broadcom, Inc.  | 219685 | 72475 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 859800 | 36815 |
| Microsoft Corp.  | 48247 | 24990 |
| Accenture PLC, Class A  | 39466 | 9732 |
| Seagate Technology Holdings PLC  | 31742 | 7493 |
| Tokyo Electron, Ltd.  | 34000 | 6060 |
| KLA Corp.  | 3919 | 4227 |
| Texas Instruments, Inc.  | 18016 | 3310 |
| SAP SE  | 10089 | 2700 |
| TE Connectivity PLC  | 11631 | 2553 |
| MediaTek, Inc.  | 52000 | 2244 |
| TDK Corp.  | 140100 | 2035 |
| Analog Devices, Inc.  | 5814 | 1429 |
| HCL Technologies, Ltd.  | 28199 | 440 |
| Capgemini SE  | 2849 | 413 |
|  |  | 176916 |
| **Industrials 8.78%** |  |  |
| RTX Corp.  | 197194 | 32997 |
| Volvo AB, Class B  | 335747 | 9611 |
| Siemens AG  | 32044 | 8623 |
| BAE Systems PLC  | 278718 | 7718 |
| Deutsche Post AG  | 146944 | 6545 |
| Marubeni Corp.  | 216500 | 5414 |
| RELX PLC  | 106172 | 5079 |
| Mitsubishi Corp.  | 211481 | 5049 |
| Singapore Technologies Engineering, Ltd.  | 739800 | 4938 |
| Union Pacific Corp.  | 18631 | 4404 |
| Automatic Data Processing, Inc.  | 12453 | 3655 |
| Northrop Grumman Corp.  | 5941 | 3620 |
| Honeywell International, Inc.  | 17158 | 3612 |
| Paychex, Inc.  | 27414 | 3475 |
| Airbus SE, non-registered shares  | 12981 | 3008 |
| Schneider Electric SE  | 9813 | 2737 |
| Broadridge Financial Solutions, Inc.  | 10975 | 2614 |
| ITOCHU Corp.  | 42700 | 2433 |
| FedEx Corp.  | 9926 | 2341 |
| Carrier Global Corp.  | 39018 | 2329 |

---

American Funds Insurance Series — Page 79 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Industrials (continued)**<br>| Shares | Value<br> (000)<br>|
| Localiza Rent a Car SA, ordinary nominative shares  | 281769 | $2089 |
| Wolters Kluwer NV  | 14975 | 2042 |
| Bureau Veritas SA  | 60554 | 1894 |
| Canadian National Railway Co. (CAD denominated)  | 17596 | 1659 |
| Watsco, Inc.  | 4092 | 1654 |
| Trinity Industries, Inc.  | 55976 | 1570 |
| ABB, Ltd.  | 20214 | 1456 |
| Robert Half, Inc.  | 41739 | 1418 |
| Epiroc AB, Class A  | 60943 | 1284 |
| Epiroc AB, Class B  | 4933 | 93 |
| SGS SA  | 11850 | 1228 |
| PACCAR, Inc.  | 12078 | 1188 |
| UL Solutions, Inc., Class A  | 16361 | 1159 |
| Transurban Group  | 121112 | 1106 |
| Brambles, Ltd.  | 40761 | 669 |
| Sulzer AG  | 3498 | 592 |
| Computershare, Ltd.  | 22570 | 542 |
|  |  | 141845 |
| **Health care 8.38%** |  |  |
| AbbVie, Inc.  | 110360 | 25553 |
| Abbott Laboratories  | 129076 | 17288 |
| Amgen, Inc.  | 51233 | 14458 |
| AstraZeneca PLC  | 95589 | 14375 |
| Gilead Sciences, Inc.  | 117244 | 13014 |
| Sanofi  | 110233 | 10166 |
| Medtronic PLC  | 75441 | 7185 |
| UnitedHealth Group, Inc.  | 19155 | 6614 |
| Novo Nordisk AS, Class B  | 101251 | 5489 |
| CVS Health Corp.  | 47555 | 3585 |
| Takeda Pharmaceutical Co., Ltd.  | 108825 | 3175 |
| Bristol-Myers Squibb Co.  | 64352 | 2902 |
| Johnson & Johnson  | 12400 | 2299 |
| EssilorLuxottica SA  | 7060 | 2288 |
| Merck & Co., Inc.  | 20750 | 1742 |
| EBOS Group, Ltd.  | 82604 | 1409 |
| Sandoz Group AG  | 19286 | 1143 |
| GSK PLC  | 43796 | 927 |
| Roche Holding AG, nonvoting non-registered shares  | 2615 | 854 |
| Royalty Pharma PLC, Class A  | 24168 | 853 |
|  |  | 135319 |
| **Consumer staples 8.38%** |  |  |
| Philip Morris International, Inc.  | 230540 | 37394 |
| British American Tobacco PLC  | 536584 | 28483 |
| British American Tobacco PLC (ADR)  | 40932 | 2173 |
| Mondelez International, Inc., Class A  | 239967 | 14991 |
| Imperial Brands PLC  | 191281 | 8124 |
| Nestle SA  | 53091 | 4873 |
| Sysco Corp.  | 58483 | 4816 |
| Altria Group, Inc.  | 60876 | 4021 |
| Danone SA  | 46148 | 4018 |
| Coca-Cola Co.  | 50926 | 3377 |
| Kimberly-Clark Corp.  | 20103 | 2500 |
| ITC, Ltd.  | 518829 | 2346 |

---

American Funds Insurance Series — Page 80 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Consumer staples (continued)**<br>| Shares | Value<br> (000)<br>|
| Procter & Gamble Co.  | 15063 | $2314 |
| General Mills, Inc.  | 42990 | 2168 |
| Carlsberg A/S, Class B  | 18209 | 2116 |
| WH Group, Ltd.  | 1742500 | 1888 |
| Marks and Spencer Group PLC  | 341848 | 1676 |
| Suntory Beverage & Food, Ltd.  | 51300 | 1604 |
| Unilever PLC  | 25686 | 1520 |
| PepsiCo, Inc.  | 8237 | 1157 |
| Dollar General Corp.  | 8654 | 894 |
| Pernod Ricard SA  | 8708 | 854 |
| Anheuser-Busch InBev SA/NV  | 12119 | 723 |
| Molson Coors Beverage Co., Class B, restricted voting shares  | 15116 | 684 |
| Constellation Brands, Inc., Class A  | 4150 | 559 |
|  |  | 135273 |
| **Utilities 5.35%** |  |  |
| Dominion Energy, Inc.  | 171727 | 10505 |
| Iberdrola SA, non-registered shares  | 383952 | 7260 |
| Engie SA  | 321271 | 6886 |
| National Grid PLC  | 421383 | 6050 |
| E.ON SE  | 301064 | 5661 |
| DTE Energy Co.  | 38440 | 5437 |
| Pinnacle West Capital Corp.  | 57905 | 5192 |
| SSE PLC  | 214230 | 5018 |
| CenterPoint Energy, Inc.  | 126268 | 4899 |
| Sempra  | 49106 | 4419 |
| Duke Energy Corp.  | 33717 | 4172 |
| Entergy Corp.  | 40262 | 3752 |
| Southern Co. (The)  | 31440 | 2980 |
| Atmos Energy Corp.  | 16009 | 2733 |
| Enel SpA  | 236066 | 2235 |
| Power Grid Corp. of India, Ltd.  | 636657 | 2009 |
| RWE AG  | 43042 | 1911 |
| AES Corp.  | 137639 | 1811 |
| NextEra Energy, Inc.  | 18420 | 1390 |
| SembCorp Industries, Ltd.  | 268900 | 1255 |
| Power Assets Holdings, Ltd.  | 127000 | 804 |
|  |  | 86379 |
| **Consumer discretionary 5.11%** |  |  |
| Industria de Diseno Textil SA  | 178996 | 9871 |
| McDonald's Corp.  | 27977 | 8502 |
| Starbucks Corp.  | 93930 | 7946 |
| Home Depot, Inc.  | 19255 | 7802 |
| YUM! Brands, Inc.  | 38279 | 5818 |
| Midea Group Co., Ltd., Class A  | 499066 | 5094 |
| Evolution AB  | 61992 | 5093 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 8330 | 5090 |
| Compagnie Generale des Etablissements Michelin  | 112108 | 4020 |
| Royal Caribbean Cruises, Ltd.  | 11645 | 3768 |
| Amadeus IT Group SA, Class A, non-registered shares  | 44436 | 3522 |
| Compagnie Financiere Richemont SA, Class A  | 11374 | 2166 |
| Tractor Supply Co.  | 37191 | 2115 |
| Vail Resorts, Inc.  | 12620 | 1888 |
| Darden Restaurants, Inc.  | 9659 | 1839 |

---

American Funds Insurance Series — Page 81 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Consumer discretionary (continued)**<br>| Shares | Value<br> (000)<br>|
| Aristocrat Leisure, Ltd.  | 37650 | $1743 |
| Restaurant Brands International, Inc.  | 27181 | 1743 |
| NEXT PLC  | 10050 | 1673 |
| Galaxy Entertainment Group, Ltd.  | 299000 | 1648 |
| OPAP SA  | 26284 | 613 |
| Jumbo SA  | 15226 | 522 |
|  |  | 82476 |
| **Energy 4.60%** |  |  |
| Exxon Mobil Corp.  | 136709 | 15414 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 379355 | 12130 |
| TC Energy Corp. (CAD denominated)  | 183128 | 9957 |
| Shell PLC (GBP denominated)  | 239223 | 8515 |
| Shell PLC (ADR)  | 9821 | 702 |
| TotalEnergies SE  | 91719 | 5570 |
| ConocoPhillips  | 49459 | 4678 |
| EOG Resources, Inc.  | 40371 | 4526 |
| South Bow Corp. <sup>(a)</sup>  | 152884 | 4326 |
| EQT Corp.  | 63799 | 3473 |
| Chevron Corp.  | 18330 | 2847 |
| DT Midstream, Inc.  | 10709 | 1211 |
| Cenovus Energy, Inc.  | 59139 | 1005 |
|  |  | 74354 |
| **Communication services 3.60%** |  |  |
| Singapore Telecommunications, Ltd.  | 3538600 | 11329 |
| T-Mobile US, Inc.  | 36768 | 8802 |
| Publicis Groupe SA  | 66665 | 6393 |
| AT&T, Inc.  | 211522 | 5973 |
| Deutsche Telekom AG  | 139643 | 4756 |
| NetEase, Inc.  | 141000 | 4291 |
| Comcast Corp., Class A  | 121707 | 3824 |
| Verizon Communications, Inc.  | 67478 | 2966 |
| Koninklijke KPN NV  | 614558 | 2949 |
| Nintendo Co., Ltd.  | 23700 | 2052 |
| HKT Trust and HKT, Ltd., units  | 984240 | 1457 |
| America Movil, SAB de CV, Class B (ADR)  | 63111 | 1325 |
| Omnicom Group, Inc.  | 13112 | 1069 |
| Telkom Indonesia (Persero) Tbk PT, Class B  | 2512000 | 461 |
| Swisscom AG <sup>(d)</sup>  | 566 | 411 |
|  |  | 58058 |
| **Materials 3.57%** |  |  |
| Air Products and Chemicals, Inc.  | 30261 | 8253 |
| Smurfit Westrock PLC  | 150213 | 6395 |
| International Paper Co.  | 132265 | 6137 |
| Nitto Denko Corp.  | 238438 | 5670 |
| Rio Tinto PLC  | 77542 | 5097 |
| Shin-Etsu Chemical Co., Ltd.  | 149062 | 4892 |
| Anglo American PLC  | 103133 | 3863 |
| Linde PLC  | 7768 | 3690 |
| Barrick Mining Corp.  | 106448 | 3488 |
| Vale SA, ordinary nominative shares  | 211978 | 2293 |
| Vale SA (ADR), ordinary nominative shares  | 91722 | 996 |
| Antofagasta PLC  | 75818 | 2805 |

---

American Funds Insurance Series — Page 82 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Materials (continued)**<br>| Shares | Value<br> (000)<br>|
| BASF SE  | 42399 | $2110 |
| Eastman Chemical Co.  | 11125 | 701 |
| Air Liquide SA  | 2512 | 522 |
| Givaudan SA  | 110 | 447 |
| Evonik Industries AG  | 13766 | 239 |
| Dow, Inc.  | 5120 | 117 |
|  |  | 57715 |
| **Real estate 3.00%** |  |  |
| VICI Properties, Inc. REIT  | 370627 | 12086 |
| Welltower, Inc. REIT  | 52257 | 9309 |
| Prologis, Inc. REIT  | 38421 | 4400 |
| Rexford Industrial Realty, Inc. REIT  | 84140 | 3459 |
| Extra Space Storage, Inc. REIT  | 22379 | 3154 |
| American Tower Corp. REIT  | 14431 | 2775 |
| Mindspace Business Parks REIT  | 399976 | 2049 |
| CTP NV  | 86037 | 1915 |
| UDR, Inc. REIT  | 48752 | 1817 |
| CK Asset Holdings, Ltd.  | 328500 | 1592 |
| Link REIT  | 302148 | 1553 |
| Equinix, Inc. REIT  | 1774 | 1390 |
| Sun Communities, Inc. REIT  | 5902 | 761 |
| Embassy Office Parks REIT  | 140661 | 668 |
| Longfor Group Holdings, Ltd.  | 357634 | 546 |
| SBA Communications Corp. REIT, Class A  | 2750 | 532 |
| Lineage, Inc. REIT  | 9785 | 378 |
| Kimco Realty Corp. REIT  | 5095 | 111 |
|  |  | 48495 |
| **Total common stocks** (cost: $839,890,000) |  | 1248204 |
| Convertible stocks 0.34%<br> **Information technology 0.16%**<br>|  |  |
| Microchip Technology, Inc., Series A, cumulative convertible preferred depositary shares, 7.50% 3/15/2028  | 44749 | 2642 |
| **Utilities 0.14%** |  |  |
| NextEra Energy, Inc., convertible preferred shares, 7.234% 11/1/2027  | 31400 | 1477 |
| PG&E Corp., Class A, convertible preferred shares, 6.00% 12/1/2027  | 18300 | 720 |
|  |  | 2197 |
| **Financials 0.04%** |  |  |
| KKR & Co., Inc., Class D, convertible preferred shares, 6.25% 3/1/2028  | 13000 | 681 |
| **Total convertible stocks** (cost: $5,250,000) |  | 5520 |
| Bonds, notes & other debt instruments 14.43%<br> **U.S. Treasury bonds & notes 5.50%**<br> **U.S. Treasury 5.50%**<br>| Principal amount<br> (000)<br>|  |
| U.S. Treasury 4.00% 2/15/2026  | USD2,369 | 2370 |
| U.S. Treasury 0.75% 3/31/2026  | 1 | 1 |
| U.S. Treasury 0.75% 5/31/2026  | 3850 | 3773 |
| U.S. Treasury 1.875% 6/30/2026  | 3855 | 3802 |

---

American Funds Insurance Series — Page 83 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. Treasury bonds & notes (continued)**<br> **U.S. Treasury (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| U.S. Treasury 1.125% 10/31/2026  | USD995 | $968 |
| U.S. Treasury 2.00% 11/15/2026 <sup>(e)</sup>  | 2800 | 2747 |
| U.S. Treasury 4.625% 11/15/2026  | 1200 | 1212 |
| U.S. Treasury 4.00% 1/15/2027 <sup>(e)</sup>  | 6541 | 6566 |
| U.S. Treasury 0.50% 4/30/2027  | 2375 | 2261 |
| U.S. Treasury 2.625% 5/31/2027  | 80 | 79 |
| U.S. Treasury 3.50% 9/30/2027  | 12624 | 12598 |
| U.S. Treasury 4.00% 2/29/2028  | 745 | 752 |
| U.S. Treasury 1.25% 3/31/2028  | 1350 | 1274 |
| U.S. Treasury 3.625% 3/31/2028  | 4 | 4 |
| U.S. Treasury 3.375% 9/15/2028  | 12246 | 12162 |
| U.S. Treasury 4.00% 7/31/2029  | 25 | 25 |
| U.S. Treasury 6.25% 5/15/2030  | 345 | 382 |
| U.S. Treasury 3.625% 9/30/2030  | 12035 | 11974 |
| U.S. Treasury 3.75% 8/31/2031  | 297 | 296 |
| U.S. Treasury 3.875% 9/30/2032  | 7284 | 7261 |
| U.S. Treasury 4.125% 11/15/2032  | 9 | 9 |
| U.S. Treasury 4.375% 5/15/2034  | 18 | 18 |
| U.S. Treasury 4.25% 8/15/2035  | 5536 | 5581 |
| U.S. Treasury 4.50% 8/15/2039  | 1045 | 1053 |
| U.S. Treasury 4.75% 2/15/2041  | 1730 | 1776 |
| U.S. Treasury 2.00% 11/15/2041 <sup>(e)</sup>  | 300 | 211 |
| U.S. Treasury 4.875% 8/15/2045  | 1312 | 1341 |
| U.S. Treasury 2.375% 5/15/2051 <sup>(e)</sup>  | 196 | 126 |
| U.S. Treasury 4.00% 11/15/2052  | 152 | 134 |
| U.S. Treasury 4.75% 5/15/2055 <sup>(e)</sup>  | 5288 | 5304 |
| U.S. Treasury 4.75% 8/15/2055  | 2719 | 2728 |
| **Total U.S. Treasury bonds & notes** |  | 88788 |
| **Mortgage-backed obligations 5.39%**<br> **Federal agency mortgage-backed obligations 4.51%**<br>|  |  |
| Fannie Mae Pool #695412 5.00% 6/1/2033 <sup>(f)</sup>  | —<br> <sup>(c)</sup><br>| — <br><sup>(c)</sup><br>|
| Fannie Mae Pool #FM2499 2.50% 2/1/2035 <sup>(f)</sup>  | 761 | 723 |
| Fannie Mae Pool #AD3566 5.00% 10/1/2035 <sup>(f)</sup>  | 1 | 1 |
| Fannie Mae Pool #CB3701 2.50% 5/1/2037 <sup>(f)</sup>  | 259 | 244 |
| Fannie Mae Pool #931768 5.00% 8/1/2039 <sup>(f)</sup>  | 1 | 1 |
| Fannie Mae Pool #AC0794 5.00% 10/1/2039 <sup>(f)</sup>  | 4 | 5 |
| Fannie Mae Pool #932606 5.00% 2/1/2040 <sup>(f)</sup>  | 2 | 2 |
| Fannie Mae Pool #AE0311 3.50% 8/1/2040 <sup>(f)</sup>  | 6 | 6 |
| Fannie Mae Pool #AE1248 5.00% 6/1/2041 <sup>(f)</sup>  | 7 | 7 |
| Fannie Mae Pool #AJ1873 4.00% 10/1/2041 <sup>(f)</sup>  | 5 | 5 |
| Fannie Mae Pool #AE1274 5.00% 10/1/2041 <sup>(f)</sup>  | 4 | 4 |
| Fannie Mae Pool #AE1277 5.00% 11/1/2041 <sup>(f)</sup>  | 3 | 3 |
| Fannie Mae Pool #AE1283 5.00% 12/1/2041 <sup>(f)</sup>  | 1 | 1 |
| Fannie Mae Pool #AE1290 5.00% 2/1/2042 <sup>(f)</sup>  | 4 | 4 |
| Fannie Mae Pool #AT0300 3.50% 3/1/2043 <sup>(f)</sup>  | 1 | 1 |
| Fannie Mae Pool #AT3954 3.50% 4/1/2043 <sup>(f)</sup>  | 1 | 1 |
| Fannie Mae Pool #AY1829 3.50% 12/1/2044 <sup>(f)</sup>  | 2 | 2 |
| Fannie Mae Pool #BH3122 4.00% 6/1/2047 <sup>(f)</sup>  | 1 | 1 |
| Fannie Mae Pool #BJ5015 4.00% 12/1/2047 <sup>(f)</sup>  | 26 | 25 |
| Fannie Mae Pool #BK5232 4.00% 5/1/2048 <sup>(f)</sup>  | 15 | 15 |
| Fannie Mae Pool #BK6840 4.00% 6/1/2048 <sup>(f)</sup>  | 20 | 20 |
| Fannie Mae Pool #BK9743 4.00% 8/1/2048 <sup>(f)</sup>  | 6 | 6 |
| Fannie Mae Pool #BK9761 4.50% 8/1/2048 <sup>(f)</sup>  | 3 | 3 |

---

American Funds Insurance Series — Page 84 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #FM3280 3.50% 5/1/2049 <sup>(f)</sup>  | USD29 | $27 |
| Fannie Mae Pool #FS5372 3.50% 7/1/2049 <sup>(f)</sup>  | 158 | 147 |
| Fannie Mae Pool #FS5313 3.50% 1/1/2050 <sup>(f)</sup>  | 1801 | 1679 |
| Fannie Mae Pool #CA5540 3.00% 4/1/2050 <sup>(f)</sup>  | 2531 | 2266 |
| Fannie Mae Pool #CA6309 3.00% 7/1/2050 <sup>(f)</sup>  | 287 | 259 |
| Fannie Mae Pool #CA6349 3.00% 7/1/2050 <sup>(f)</sup>  | 113 | 100 |
| Fannie Mae Pool #CA6740 3.00% 8/1/2050 <sup>(f)</sup>  | 75 | 66 |
| Fannie Mae Pool #CA7048 3.00% 9/1/2050 <sup>(f)</sup>  | 41 | 37 |
| Fannie Mae Pool #CA7052 3.00% 9/1/2050 <sup>(f)</sup>  | 12 | 10 |
| Fannie Mae Pool #CA7381 3.00% 10/1/2050 <sup>(f)</sup>  | 122 | 108 |
| Fannie Mae Pool #FM5166 3.00% 12/1/2050 <sup>(f)</sup>  | 80 | 71 |
| Fannie Mae Pool #BR4104 2.00% 1/1/2051 <sup>(f)</sup>  | 42 | 34 |
| Fannie Mae Pool #FM5509 3.00% 1/1/2051 <sup>(f)</sup>  | 122 | 109 |
| Fannie Mae Pool #FM6332 2.00% 2/1/2051 <sup>(f)</sup>  | 180 | 145 |
| Fannie Mae Pool #MA4255 2.00% 2/1/2051 <sup>(f)</sup>  | 51 | 41 |
| Fannie Mae Pool #FS1086 2.00% 4/1/2051 <sup>(f)</sup>  | 21 | 17 |
| Fannie Mae Pool #CB0191 3.00% 4/1/2051 <sup>(f)</sup>  | 154 | 137 |
| Fannie Mae Pool #CB0193 3.00% 4/1/2051 <sup>(f)</sup>  | 19 | 17 |
| Fannie Mae Pool #BT1267 3.00% 6/1/2051 <sup>(f)</sup>  | 152 | 134 |
| Fannie Mae Pool #FM7909 3.00% 6/1/2051 <sup>(f)</sup>  | 14 | 13 |
| Fannie Mae Pool #FM8477 3.00% 8/1/2051 <sup>(f)</sup>  | 107 | 96 |
| Fannie Mae Pool #CB2527 2.00% 12/1/2051 <sup>(f)</sup>  | 170 | 138 |
| Fannie Mae Pool #CB2787 3.50% 12/1/2051 <sup>(f)</sup>  | 18 | 17 |
| Fannie Mae Pool #BU1450 2.00% 1/1/2052 <sup>(f)</sup>  | 4 | 3 |
| Fannie Mae Pool #BV0790 3.50% 1/1/2052 <sup>(f)</sup>  | 71 | 65 |
| Fannie Mae Pool #FS1885 2.50% 2/1/2052 <sup>(f)</sup>  | 152 | 129 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052 <sup>(f)</sup>  | 786 | 704 |
| Fannie Mae Pool #BU8803 3.00% 2/1/2052 <sup>(f)</sup>  | 100 | 88 |
| Fannie Mae Pool #FS0752 3.00% 3/1/2052 <sup>(f)</sup>  | 451 | 401 |
| Fannie Mae Pool #CB3179 3.50% 3/1/2052 <sup>(f)</sup>  | 263 | 242 |
| Fannie Mae Pool #CB3353 2.50% 4/1/2052 <sup>(f)</sup>  | 217 | 183 |
| Fannie Mae Pool #FS8677 2.50% 4/1/2052 <sup>(f)</sup>  | 132 | 111 |
| Fannie Mae Pool #CB3379 4.00% 4/1/2052 <sup>(f)</sup>  | 4 | 4 |
| Fannie Mae Pool #MA4626 4.00% 6/1/2052 <sup>(f)</sup>  | 103 | 97 |
| Fannie Mae Pool #CB4021 4.00% 6/1/2052 <sup>(f)</sup>  | 8 | 8 |
| Fannie Mae Pool #FS7879 2.50% 7/1/2052 <sup>(f)</sup>  | 145 | 122 |
| Fannie Mae Pool #CB4360 3.00% 8/1/2052 <sup>(f)</sup>  | 619 | 545 |
| Fannie Mae Pool #BV8976 5.00% 8/1/2052 <sup>(f)</sup>  | 52 | 52 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(f)</sup>  | 147 | 119 |
| Fannie Mae Pool #BW1289 5.50% 10/1/2052 <sup>(f)</sup>  | 106 | 107 |
| Fannie Mae Pool #BW1243 5.50% 10/1/2052 <sup>(f)</sup>  | 95 | 96 |
| Fannie Mae Pool #MA4842 5.50% 12/1/2052 <sup>(f)</sup>  | 143 | 146 |
| Fannie Mae Pool #MA4919 5.50% 2/1/2053 <sup>(f)</sup>  | 90 | 91 |
| Fannie Mae Pool #CB6012 4.00% 4/1/2053 <sup>(f)</sup>  | 772 | 728 |
| Fannie Mae Pool #BX9827 5.00% 5/1/2053 <sup>(f)</sup>  | 227 | 226 |
| Fannie Mae Pool #FS4563 5.00% 5/1/2053 <sup>(f)</sup>  | 58 | 58 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(f)</sup>  | 245 | 248 |
| Fannie Mae Pool #MA5011 6.00% 5/1/2053 <sup>(f)</sup>  | 1325 | 1362 |
| Fannie Mae Pool #MA5039 5.50% 6/1/2053 <sup>(f)</sup>  | 303 | 306 |
| Fannie Mae Pool #CB6485 6.00% 6/1/2053 <sup>(f)</sup>  | 363 | 372 |
| Fannie Mae Pool #CB6486 6.00% 6/1/2053 <sup>(f)</sup>  | 225 | 231 |
| Fannie Mae Pool #CB6465 6.00% 6/1/2053 <sup>(f)</sup>  | 165 | 171 |
| Fannie Mae Pool #MA5089 4.00% 7/1/2053 <sup>(f)</sup>  | 262 | 247 |
| Fannie Mae Pool #MA5070 4.50% 7/1/2053 <sup>(f)</sup>  | 97 | 94 |

---

American Funds Insurance Series — Page 85 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #MA5071 5.00% 7/1/2053 <sup>(f)</sup>  | USD120 | $120 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(f)</sup>  | 791 | 799 |
| Fannie Mae Pool #MA5139 6.00% 9/1/2053 <sup>(f)</sup>  | 392 | 402 |
| Fannie Mae Pool #MA5177 4.00% 10/1/2053 <sup>(f)</sup>  | 893 | 843 |
| Fannie Mae Pool #MA5166 6.00% 10/1/2053 <sup>(f)</sup>  | 43 | 44 |
| Fannie Mae Pool #MA5191 6.00% 11/1/2053 <sup>(f)</sup>  | 647 | 662 |
| Fannie Mae Pool #CB7426 6.50% 11/1/2053 <sup>(f)</sup>  | 64 | 67 |
| Fannie Mae Pool #CB7626 6.50% 12/1/2053 <sup>(f)</sup>  | 23 | 24 |
| Fannie Mae Pool #FS6767 6.50% 1/1/2054 <sup>(f)</sup>  | 26 | 27 |
| Fannie Mae Pool #CB8151 5.50% 3/1/2054 <sup>(f)</sup>  | 832 | 841 |
| Fannie Mae Pool #CB8168 6.00% 3/1/2054 <sup>(f)</sup>  | 114 | 117 |
| Fannie Mae Pool #MA5295 6.00% 3/1/2054 <sup>(f)</sup>  | 60 | 61 |
| Fannie Mae Pool #CB8328 5.50% 4/1/2054 <sup>(f)</sup>  | 916 | 932 |
| Fannie Mae Pool #MA5354 6.00% 5/1/2054 <sup>(f)</sup>  | 111 | 113 |
| Fannie Mae Pool #MA5388 5.50% 6/1/2054 <sup>(f)</sup>  | 69 | 70 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(f)</sup>  | 381 | 393 |
| Fannie Mae Pool #DB6878 6.00% 6/1/2054 <sup>(f)</sup>  | 122 | 125 |
| Fannie Mae Pool #FS8223 6.00% 6/1/2054 <sup>(f)</sup>  | 26 | 27 |
| Fannie Mae Pool #FS8219 6.00% 6/1/2054 <sup>(f)</sup>  | 18 | 19 |
| Fannie Mae Pool #BU4699 5.50% 7/1/2054 <sup>(f)</sup>  | 152 | 153 |
| Fannie Mae Pool #MA5421 6.00% 7/1/2054 <sup>(f)</sup>  | 812 | 831 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(f)</sup>  | 179 | 184 |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(f)</sup>  | 162 | 167 |
| Fannie Mae Pool #DB6905 6.00% 7/1/2054 <sup>(f)</sup>  | 106 | 108 |
| Fannie Mae Pool #FS8318 6.00% 7/1/2054 <sup>(f)</sup>  | 94 | 97 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(f)</sup>  | 77 | 79 |
| Fannie Mae Pool #DB7039 6.00% 7/1/2054 <sup>(f)</sup>  | 18 | 19 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(f)</sup>  | 2704 | 2783 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(f)</sup>  | 344 | 352 |
| Fannie Mae Pool #DC0296 6.00% 8/1/2054 <sup>(f)</sup>  | 9 | 10 |
| Fannie Mae Pool #DB7687 6.00% 8/1/2054 <sup>(f)</sup>  | 9 | 9 |
| Fannie Mae Pool #DB7690 6.00% 8/1/2054 <sup>(f)</sup>  | 9 | 9 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(f)</sup>  | 9 | 9 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(f)</sup>  | 7 | 7 |
| Fannie Mae Pool #CB9071 6.50% 8/1/2054 <sup>(f)</sup>  | 17 | 18 |
| Fannie Mae Pool #MA5470 5.50% 9/1/2054 <sup>(f)</sup>  | 234 | 236 |
| Fannie Mae Pool #FS9001 5.50% 9/1/2054 <sup>(f)</sup>  | 33 | 34 |
| Fannie Mae Pool #DC3262 6.00% 9/1/2054 <sup>(f)</sup>  | 3 | 3 |
| Fannie Mae Pool #DC3459 6.00% 9/1/2054 <sup>(f)</sup>  | 2 | 2 |
| Fannie Mae Pool #BU5165 5.50% 11/1/2054 <sup>(f)</sup>  | 230 | 233 |
| Fannie Mae Pool #DC9197 4.50% 12/1/2054 <sup>(f)</sup>  | 565 | 551 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(f)</sup>  | 196 | 195 |
| Fannie Mae Pool #MA5583 4.00% 1/1/2055 <sup>(f)</sup>  | 66 | 62 |
| Fannie Mae Pool #MA5587 6.00% 1/1/2055 <sup>(f)</sup>  | 42 | 43 |
| Fannie Mae Pool #MA5612 4.50% 2/1/2055 <sup>(f)</sup>  | 455 | 442 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(f)</sup>  | 600 | 614 |
| Fannie Mae Pool #MA5644 4.50% 3/1/2055 <sup>(f)</sup>  | 312 | 303 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(f)</sup>  | 26 | 26 |
| Fannie Mae Pool #MA5671 4.50% 4/1/2055 <sup>(f)</sup>  | 330 | 320 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(f)</sup>  | 76 | 78 |
| Fannie Mae Pool #FA1162 6.00% 4/1/2055 <sup>(f)</sup>  | 2 | 2 |
| Fannie Mae Pool #DD4459 6.00% 4/1/2055 <sup>(f)</sup>  | 2 | 2 |
| Fannie Mae Pool #MA5699 5.00% 5/1/2055 <sup>(f)</sup>  | 20 | 19 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(f)</sup>  | 198 | 202 |

---

American Funds Insurance Series — Page 86 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #MA5734 5.00% 6/1/2055 <sup>(f)</sup>  | USD14 | $14 |
| Fannie Mae Pool #DD9889 6.00% 7/1/2055 <sup>(f)</sup>  | 918 | 939 |
| Fannie Mae Pool #MA5761 6.00% 7/1/2055 <sup>(f)</sup>  | 2 | 2 |
| Fannie Mae Pool #CC0879 6.00% 8/1/2055 <sup>(f)</sup>  | 2 | 2 |
| Fannie Mae Pool #BF0142 5.50% 8/1/2056 <sup>(f)</sup>  | 321 | 334 |
| Fannie Mae Pool #BF0342 5.50% 1/1/2059 <sup>(f)</sup>  | 215 | 220 |
| Fannie Mae Pool #BM6737 4.50% 11/1/2059 <sup>(f)</sup>  | 523 | 510 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060 <sup>(f)</sup>  | 362 | 317 |
| Freddie Mac Pool #SB0649 2.50% 4/1/2037 <sup>(f)</sup>  | 388 | 365 |
| Freddie Mac Pool #SB1388 2.50% 1/1/2038 <sup>(f)</sup>  | 110 | 103 |
| Freddie Mac Pool #SC0149 2.00% 3/1/2041 <sup>(f)</sup>  | 61 | 53 |
| Freddie Mac Pool #RB0544 2.00% 6/1/2041 <sup>(f)</sup>  | 105 | 92 |
| Freddie Mac Pool #Q15874 4.00% 2/1/2043 <sup>(f)</sup>  | 1 | 1 |
| Freddie Mac Pool #G67711 4.00% 3/1/2048 <sup>(f)</sup>  | 176 | 170 |
| Freddie Mac Pool #Q55971 4.00% 5/1/2048 <sup>(f)</sup>  | 15 | 14 |
| Freddie Mac Pool #Q56175 4.00% 5/1/2048 <sup>(f)</sup>  | 11 | 10 |
| Freddie Mac Pool #Q55970 4.00% 5/1/2048 <sup>(f)</sup>  | 6 | 6 |
| Freddie Mac Pool #Q56599 4.00% 6/1/2048 <sup>(f)</sup>  | 21 | 21 |
| Freddie Mac Pool #Q57242 4.50% 7/1/2048 <sup>(f)</sup>  | 10 | 10 |
| Freddie Mac Pool #Q58411 4.50% 9/1/2048 <sup>(f)</sup>  | 39 | 39 |
| Freddie Mac Pool #Q58436 4.50% 9/1/2048 <sup>(f)</sup>  | 19 | 19 |
| Freddie Mac Pool #Q58378 4.50% 9/1/2048 <sup>(f)</sup>  | 13 | 12 |
| Freddie Mac Pool #ZT1704 4.50% 1/1/2049 <sup>(f)</sup>  | 919 | 911 |
| Freddie Mac Pool #RA3384 3.00% 8/1/2050 <sup>(f)</sup>  | 11 | 10 |
| Freddie Mac Pool #RA3506 3.00% 9/1/2050 <sup>(f)</sup>  | 131 | 116 |
| Freddie Mac Pool #QB6480 2.00% 12/1/2050 <sup>(f)</sup>  | 68 | 55 |
| Freddie Mac Pool #RA5901 3.00% 9/1/2051 <sup>(f)</sup>  | 62 | 55 |
| Freddie Mac Pool #RA6347 3.00% 11/1/2051 <sup>(f)</sup>  | 123 | 109 |
| Freddie Mac Pool #SD2629 2.50% 1/1/2052 <sup>(f)</sup>  | 47 | 40 |
| Freddie Mac Pool #QD3812 3.00% 1/1/2052 <sup>(f)</sup>  | 102 | 90 |
| Freddie Mac Pool #RA6973 2.00% 3/1/2052 <sup>(f)</sup>  | 239 | 194 |
| Freddie Mac Pool #SD1156 3.00% 4/1/2052 <sup>(f)</sup>  | 108 | 96 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(f)</sup>  | 780 | 687 |
| Freddie Mac Pool #SD8214 3.50% 5/1/2052 <sup>(f)</sup>  | 222 | 203 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052 <sup>(f)</sup>  | 446 | 393 |
| Freddie Mac Pool #QE4383 4.00% 6/1/2052 <sup>(f)</sup>  | 285 | 270 |
| Freddie Mac Pool #RA7556 4.50% 6/1/2052 <sup>(f)</sup>  | 729 | 711 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(f)</sup>  | 143 | 126 |
| Freddie Mac Pool #SD1406 2.00% 8/1/2052 <sup>(f)</sup>  | 43 | 35 |
| Freddie Mac Pool #SD8242 3.00% 9/1/2052 <sup>(f)</sup>  | 109 | 96 |
| Freddie Mac Pool #SD1584 4.50% 9/1/2052 <sup>(f)</sup>  | 163 | 161 |
| Freddie Mac Pool #QE9222 5.00% 9/1/2052 <sup>(f)</sup>  | 566 | 564 |
| Freddie Mac Pool #QF0924 5.50% 9/1/2052 <sup>(f)</sup>  | 272 | 276 |
| Freddie Mac Pool #QF2223 4.00% 10/1/2052 <sup>(f)</sup>  | 26 | 24 |
| Freddie Mac Pool #SD5845 3.50% 11/1/2052 <sup>(f)</sup>  | 2381 | 2179 |
| Freddie Mac Pool #SD2948 5.50% 11/1/2052 <sup>(f)</sup>  | 101 | 102 |
| Freddie Mac Pool #SD2602 3.00% 12/1/2052 <sup>(f)</sup>  | 22 | 19 |
| Freddie Mac Pool #SD4116 4.50% 12/1/2052 <sup>(f)</sup>  | 424 | 413 |
| Freddie Mac Pool #SD8286 4.00% 1/1/2053 <sup>(f)</sup>  | 737 | 697 |
| Freddie Mac Pool #SD2716 5.00% 4/1/2053 <sup>(f)</sup>  | 90 | 90 |
| Freddie Mac Pool #SD8316 5.50% 4/1/2053 <sup>(f)</sup>  | 502 | 508 |
| Freddie Mac Pool #SD8324 5.50% 5/1/2053 <sup>(f)</sup>  | 380 | 385 |
| Freddie Mac Pool #SD8329 5.00% 6/1/2053 <sup>(f)</sup>  | 31 | 30 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(f)</sup>  | 949 | 961 |

---

American Funds Insurance Series — Page 87 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SD3175 6.00% 6/1/2053 <sup>(f)</sup>  | USD76 | $78 |
| Freddie Mac Pool #RA9294 6.50% 6/1/2053 <sup>(f)</sup>  | 14 | 15 |
| Freddie Mac Pool #RA9289 6.50% 6/1/2053 <sup>(f)</sup>  | 12 | 13 |
| Freddie Mac Pool #RA9292 6.50% 6/1/2053 <sup>(f)</sup>  | 12 | 13 |
| Freddie Mac Pool #RA9288 6.50% 6/1/2053 <sup>(f)</sup>  | 12 | 12 |
| Freddie Mac Pool #RA9287 6.50% 6/1/2053 <sup>(f)</sup>  | 8 | 8 |
| Freddie Mac Pool #RA9290 6.50% 6/1/2053 <sup>(f)</sup>  | 6 | 6 |
| Freddie Mac Pool #RA9291 6.50% 6/1/2053 <sup>(f)</sup>  | 4 | 4 |
| Freddie Mac Pool #RA9295 6.50% 6/1/2053 <sup>(f)</sup>  | 3 | 3 |
| Freddie Mac Pool #SD8342 5.50% 7/1/2053 <sup>(f)</sup>  | 31 | 31 |
| Freddie Mac Pool #SD3432 6.00% 7/1/2053 <sup>(f)</sup>  | 18 | 19 |
| Freddie Mac Pool #SD8362 5.50% 9/1/2053 <sup>(f)</sup>  | 17 | 17 |
| Freddie Mac Pool #SD8367 5.50% 10/1/2053 <sup>(f)</sup>  | 209 | 211 |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(f)</sup>  | 602 | 600 |
| Freddie Mac Pool #SD8372 5.50% 11/1/2053 <sup>(f)</sup>  | 44 | 45 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(f)</sup>  | 9 | 9 |
| Freddie Mac Pool #SD8392 4.00% 12/1/2053 <sup>(f)</sup>  | 52 | 49 |
| Freddie Mac Pool #SD4693 6.50% 1/1/2054 <sup>(f)</sup>  | 7 | 8 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(f)</sup>  | 16 | 16 |
| Freddie Mac Pool #SD8402 6.00% 2/1/2054 <sup>(f)</sup>  | 1143 | 1170 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(f)</sup>  | 854 | 862 |
| Freddie Mac Pool #RJ1216 5.50% 4/1/2054 <sup>(f)</sup>  | 18 | 18 |
| Freddie Mac Pool #RJ1215 5.50% 4/1/2054 <sup>(f)</sup>  | 8 | 9 |
| Freddie Mac Pool #SD5303 6.00% 4/1/2054 <sup>(f)</sup>  | 436 | 449 |
| Freddie Mac Pool #QI3333 6.00% 4/1/2054 <sup>(f)</sup>  | 9 | 10 |
| Freddie Mac Pool #RJ1512 5.50% 5/1/2054 <sup>(f)</sup>  | 264 | 269 |
| Freddie Mac Pool #SD8432 6.00% 5/1/2054 <sup>(f)</sup>  | 51 | 52 |
| Freddie Mac Pool #SD5692 6.00% 5/1/2054 <sup>(f)</sup>  | 17 | 17 |
| Freddie Mac Pool #QI7522 5.50% 6/1/2054 <sup>(f)</sup>  | 111 | 112 |
| Freddie Mac Pool #RJ1768 5.50% 6/1/2054 <sup>(f)</sup>  | 23 | 23 |
| Freddie Mac Pool #SD8439 6.00% 6/1/2054 <sup>(f)</sup>  | 1 | 1 |
| Freddie Mac Pool #QI8872 5.50% 7/1/2054 <sup>(f)</sup>  | 74 | 75 |
| Freddie Mac Pool #SD8446 5.50% 7/1/2054 <sup>(f)</sup>  | 63 | 63 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(f)</sup>  | 344 | 352 |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(f)</sup>  | 283 | 294 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(f)</sup>  | 248 | 254 |
| Freddie Mac Pool #QI8874 6.00% 7/1/2054 <sup>(f)</sup>  | 73 | 75 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(f)</sup>  | 18 | 18 |
| Freddie Mac Pool #SD5896 6.00% 7/1/2054 <sup>(f)</sup>  | 16 | 16 |
| Freddie Mac Pool #SD8448 6.50% 7/1/2054 <sup>(f)</sup>  | 102 | 105 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(f)</sup>  | 169 | 173 |
| Freddie Mac Pool #RJ2216 6.00% 8/1/2054 <sup>(f)</sup>  | 17 | 17 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(f)</sup>  | 9 | 9 |
| Freddie Mac Pool #RJ2210 6.00% 8/1/2054 <sup>(f)</sup>  | 5 | 5 |
| Freddie Mac Pool #QJ3296 6.00% 8/1/2054 <sup>(f)</sup>  | 2 | 2 |
| Freddie Mac Pool #SD8455 6.50% 8/1/2054 <sup>(f)</sup>  | 99 | 102 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(f)</sup>  | 37 | 38 |
| Freddie Mac Pool #QJ3725 6.00% 9/1/2054 <sup>(f)</sup>  | 24 | 25 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(f)</sup>  | 19 | 19 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(f)</sup>  | 18 | 19 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(f)</sup>  | 18 | 18 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(f)</sup>  | 9 | 9 |
| Freddie Mac Pool #SD8470 6.00% 10/1/2054 <sup>(f)</sup>  | 117 | 119 |
| Freddie Mac Pool #RJ2851 4.50% 11/1/2054 <sup>(f)</sup>  | 81 | 79 |

---

American Funds Insurance Series — Page 88 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #RJ2860 5.00% 11/1/2054 <sup>(f)</sup>  | USD53 | $52 |
| Freddie Mac Pool #RJ2917 5.50% 11/1/2054 <sup>(f)</sup>  | 62 | 62 |
| Freddie Mac Pool #RJ2922 6.00% 11/1/2054 <sup>(f)</sup>  | 17 | 18 |
| Freddie Mac Pool #QX1414 5.50% 12/1/2054 <sup>(f)</sup>  | 337 | 341 |
| Freddie Mac Pool #SD8495 6.00% 12/1/2054 <sup>(f)</sup>  | 52 | 53 |
| Freddie Mac Pool #SD8496 6.00% 1/1/2055 <sup>(f)</sup>  | 24 | 25 |
| Freddie Mac Pool #RJ3264 4.50% 2/1/2055 <sup>(f)</sup>  | 37 | 36 |
| Freddie Mac Pool #SL0797 6.00% 2/1/2055 <sup>(f)</sup>  | 167 | 172 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(f)</sup>  | 96 | 98 |
| Freddie Mac Pool #SD8515 5.50% 3/1/2055 <sup>(f)</sup>  | 8 | 8 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(f)</sup>  | 110 | 113 |
| Freddie Mac Pool #SD8517 6.50% 3/1/2055 <sup>(f)</sup>  | 136 | 140 |
| Freddie Mac Pool #SL1094 5.00% 4/1/2055 <sup>(f)</sup>  | 12 | 12 |
| Freddie Mac Pool #SL1416 6.00% 4/1/2055 <sup>(f)</sup>  | 461 | 471 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(f)</sup>  | 337 | 345 |
| Freddie Mac Pool #SD8532 5.00% 5/1/2055 <sup>(f)</sup>  | 20 | 19 |
| Freddie Mac Pool #SD8533 5.50% 5/1/2055 <sup>(f)</sup>  | 130 | 131 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(f)</sup>  | 30 | 31 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(f)</sup>  | 15 | 15 |
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(f)</sup>  | 1 | 1 |
| Freddie Mac Pool #RQ0026 5.00% 7/1/2055 <sup>(f)</sup>  | 498 | 494 |
| Freddie Mac Pool #RQ0028 6.00% 7/1/2055 <sup>(f)</sup>  | 301 | 308 |
| Freddie Mac Pool #RQ0041 6.00% 8/1/2055 <sup>(f)</sup>  | 4 | 4 |
| Freddie Mac Pool #RQ0050 6.00% 9/1/2055 <sup>(f)</sup>  | 39 | 39 |
| Freddie Mac, Series K156, Class A2, Multi Family, 4.43% 2/25/2033 <sup>(f)(g)</sup>  | 160 | 161 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056 <sup>(f)</sup>  | 87 | 82 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056 <sup>(f)</sup>  | 183 | 172 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056 <sup>(f)(g)</sup>  | 175 | 164 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 6/25/2057 <sup>(f)(g)</sup>  | 80 | 72 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT, 3.50% 6/25/2057 <sup>(f)</sup>  | 66 | 61 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057 <sup>(f)(g)</sup>  | 13 | 13 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MT, 3.50% 7/25/2058 <sup>(f)</sup>  | 823 | 739 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MA, 3.50% 7/25/2058 <sup>(f)</sup>  | 278 | 270 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/26/2058 <sup>(f)</sup>  | 442 | 427 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MA, 3.50% 10/25/2058 <sup>(f)</sup>  | 12 | 12 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 10/25/2058 <sup>(f)</sup>  | 8 | 7 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028 <sup>(f)</sup>  | 668 | 655 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-2, Class A1C, 2.75% 9/25/2029 <sup>(f)</sup>  | 962 | 920 |
| Government National Mortgage Assn. Pool #MA5764 4.50% 2/20/2049 <sup>(f)</sup>  | 156 | 154 |
| Government National Mortgage Assn. Pool #MA8267 4.00% 9/20/2052 <sup>(f)</sup>  | 2715 | 2574 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052 <sup>(f)</sup>  | 57 | 54 |
| Government National Mortgage Assn. Pool #MA8723 4.00% 3/20/2053 <sup>(f)</sup>  | 203 | 193 |
| Government National Mortgage Assn. Pool #MA8947 5.00% 6/20/2053 <sup>(f)</sup>  | 369 | 369 |
| Government National Mortgage Assn. Pool #MA9016 5.00% 7/20/2053 <sup>(f)</sup>  | 992 | 990 |
| Government National Mortgage Assn. Pool #MA9776 4.00% 7/20/2054 <sup>(f)</sup>  | 25 | 23 |
| Government National Mortgage Assn. Pool #MB0205 5.50% 2/20/2055 <sup>(f)</sup>  | 496 | 500 |
| Government National Mortgage Assn. Pool #MB0259 5.50% 3/20/2055 <sup>(f)</sup>  | 110 | 111 |
| Government National Mortgage Assn. Pool #694836 5.683% 9/20/2059 <sup>(f)</sup>  | —<br> <sup>(c)</sup><br>| — <br><sup>(c)</sup><br>|
| Government National Mortgage Assn. Pool #725893 5.20% 9/20/2064 <sup>(f)</sup>  | —<br> <sup>(c)</sup><br>| — <br><sup>(c)</sup><br>|
| Uniform Mortgage-Backed Security 2.00% 10/1/2055 <sup>(f)(h)</sup>  | 160 | 129 |
| Uniform Mortgage-Backed Security 2.50% 10/1/2055 <sup>(f)(h)</sup>  | 1085 | 914 |
| Uniform Mortgage-Backed Security 3.50% 10/1/2055 <sup>(f)(h)</sup>  | 209 | 191 |
| Uniform Mortgage-Backed Security 4.00% 10/1/2055 <sup>(f)(h)</sup>  | 561 | 529 |
| Uniform Mortgage-Backed Security 4.50% 10/1/2055 <sup>(f)(h)</sup>  | 201 | 195 |

---

American Funds Insurance Series — Page 89 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Uniform Mortgage-Backed Security 5.50% 10/1/2055 <sup>(f)(h)</sup>  | USD292 | $294 |
| Uniform Mortgage-Backed Security 6.00% 10/1/2055 <sup>(f)(h)</sup>  | 61 | 62 |
| Uniform Mortgage-Backed Security 6.50% 10/1/2055 <sup>(f)(h)</sup>  | 742 | 767 |
| Uniform Mortgage-Backed Security 7.00% 10/1/2055 <sup>(f)(h)</sup>  | 4941 | 5169 |
| Uniform Mortgage-Backed Security 2.00% 11/1/2055 <sup>(f)(h)</sup>  | 322 | 260 |
| Uniform Mortgage-Backed Security 2.50% 11/1/2055 <sup>(f)(h)</sup>  | 415 | 350 |
| Uniform Mortgage-Backed Security 3.00% 11/1/2055 <sup>(f)(h)</sup>  | 300 | 264 |
| Uniform Mortgage-Backed Security 5.50% 11/1/2055 <sup>(f)(h)</sup>  | 132 | 133 |
| Uniform Mortgage-Backed Security 6.50% 11/1/2055 <sup>(f)(h)</sup>  | 3806 | 3936 |
|  |  | 72790 |
| **Commercial mortgage-backed securities 0.45%** |  |  |
| Atrium Hotel Portfolio Trust, Series 2024-ATRM, Class A, 5.409% 11/10/2029 <sup>(f)(g)(i)</sup>  | 296 | 302 |
| Benchmark Mortgage Trust, Series 2024-V5, Class AM, 6.417% 1/10/2057 <sup>(f)</sup>  | 41 | 43 |
| BMO Mortgage Trust, Series 2024-5C5, Class AS, 6.364% 2/15/2057 <sup>(f)(g)</sup>  | 122 | 128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, Series 2022-CSMO, Class A, (1-month USD CME Term SOFR + 2.115%) 6.265% <br> 6/15/2027 <sup>(f)(g)(i)</sup>  | 332 | 334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 4.965% <br> 9/15/2036 <sup>(f)(g)(i)</sup>  | 628 | 626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, Series 2021-SOAR, Class A, (1-month USD CME Term SOFR + 0.784%) 4.935% <br> 6/15/2038 <sup>(f)(g)(i)</sup>  | 152 | 153 |
| BX Trust, Series 2024-KING, Class A, (1-month USD CME Term SOFR + 1.541%) 5.691% 5/15/2034 <sup>(f)(g)(i)</sup>  | 106 | 106 |
| BX Trust, Series 2021-ARIA, Class C, (1-month USD CME Term SOFR + 1.76%) 5.911% 10/15/2036 <sup>(f)(g)(i)</sup>  | 100 | 100 |
| BX Trust, Series 2022-IND, Class A, (1-month USD CME Term SOFR + 1.491%) 5.641% 4/15/2037 <sup>(f)(g)(i)</sup>  | 84 | 84 |
| BX Trust, Series 2021-SOAR, Class D, (1-month USD CME Term SOFR + 1.514%) 5.665% 6/15/2038 <sup>(f)(g)(i)</sup>  | 88 | 88 |
| BX Trust, Series 2021-ACNT, Class C, (1-month USD CME Term SOFR + 1.614%) 5.765% 11/15/2038 <sup>(f)(g)(i)</sup>  | 78 | 78 |
| BX Trust, Series 2024-AIRC, Class A, (1-month USD CME Term SOFR + 1.691%) 5.842% 8/15/2039 <sup>(f)(g)(i)</sup>  | 169 | 170 |
| BX Trust, Series 2024-BIO2, Class A, 5.594% 8/13/2041 <sup>(f)(g)(i)</sup>  | 590 | 600 |
| CALI Mortgage Trust, Series 24-SUN, Class A, (1-month USD CME Term SOFR + 1.89%) 6.041% 7/15/2041 <sup>(f)(g)(i)</sup>  | 100 | 100 |
| CART, Series 2024-DFW1, Class A, (1-month USD CME Term SOFR + 1.642%) 5.792% 8/15/2041 <sup>(f)(g)(i)</sup>  | 120 | 120 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(f)(g)(i)</sup>  | 237 | 244 |
| DATA 2023-CNTR Mortgage Trust, Series 2023-CNTR, Class A, 5.728% 8/12/2043 <sup>(f)(g)(i)</sup>  | 574 | 595 |
| ELM Trust 2024, Series 2024-ELM, Class B10, 5.995% 6/10/2039 <sup>(f)(g)(i)</sup>  | 213 | 215 |
| ELM Trust 2024, Series 2024-ELM, Class B15, 5.995% 6/10/2039 <sup>(f)(g)(i)</sup>  | 191 | 192 |
| ELM Trust 2024, Series 2024-ELM, Class C15, 6.189% 6/10/2039 <sup>(f)(g)(i)</sup>  | 133 | 134 |
| ELM Trust 2024, Series 2024-ELM, Class C10, 6.189% 6/10/2039 <sup>(f)(g)(i)</sup>  | 120 | 121 |
| ELM Trust 2024, Series 2024-ELM, Class D10, 6.626% 6/10/2039 <sup>(f)(g)(i)</sup>  | 100 | 101 |
| ELM Trust 2024, Series 2024-ELM, Class D15, 6.674% 6/10/2039 <sup>(f)(g)(i)</sup>  | 100 | 101 |
| FIVE Mortgage Trust, Series 2023-V1, Class A3, 5.668% 2/10/2056 <sup>(f)</sup>  | 73 | 75 |
| GS Mortgage Securities Trust, Series 2024-70P, Class A, 5.487% 3/10/2041 <sup>(f)(g)(i)</sup>  | 592 | 594 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.644% 2/5/2045 <sup>(f)(g)(i)</sup>  | 329 | 341 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class A, 6.072% 5/10/2039 <sup>(f)(g)(i)</sup>  | 100 | 101 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class B, 6.774% 5/10/2039 <sup>(f)(g)(i)</sup>  | 243 | 247 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.649% 1/13/2040 <sup>(f)(g)(i)</sup>  | 541 | 560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multifamily Connecticut Avenue Securities, Series 2024-01, Class M7, (30-day Average USD-SOFR + 2.75%) <br> 7.106% 7/25/2054 <sup>(f)(g)(i)</sup>  | 110 | 112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust, Series 2025-DATA, Class D, (1-month USD CME Term SOFR + 2.591%) <br> 6.791% 2/15/2042 <sup>(f)(g)(i)</sup>  | 597 | 596 |
|  |  | 7361 |
| **Collateralized mortgage-backed obligations (privately originated) 0.43%** |  |  |
| Arroyo Mortgage Trust, Series 2021-1R, Class A1, 1.175% 10/25/2048 <sup>(f)(g)(i)</sup>  | 78 | 71 |
| Atlas SP, Series 2024-RPL1, Class A1, 3.85% 4/25/2064 (4.85% on 8/1/2028) <sup>(f)(i)(j)</sup>  | 500 | 486 |
| BINOM Securitization Trust, Series 2022-RPL1, Class A1, 3.00% 2/25/2061 <sup>(f)(g)(i)</sup>  | 58 | 55 |

---

American Funds Insurance Series — Page 90 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Collateralized mortgage-backed obligations (privately originated) (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(f)(g)(i)</sup>  | USD158 | $157 |
| Cascade Funding Mortgage Trust, Series 2024-RM5, Class A, 4.00% 10/25/2054 <sup>(f)(g)(i)</sup>  | 385 | 379 |
| CIM Trust, Series 2022-R2, Class A1, 3.75% 12/25/2061 <sup>(f)(g)(i)</sup>  | 135 | 129 |
| Citigroup Mortgage Loan Trust, Series 2020-EXP1, Class A1A, 1.804% 5/25/2060 <sup>(f)(g)(i)</sup>  | 6 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R01, Class 1M1, (30-day Average USD-SOFR + 2.40%) 6.756% <br> 12/25/2042 <sup>(f)(g)(i)</sup>  | 26 | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M1, (30-day Average USD-SOFR + 1.90%) 6.256% <br> 6/25/2043 <sup>(f)(g)(i)</sup>  | 214 | 215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M1, (30-day Average USD-SOFR + 1.70%) 6.056% <br> 7/25/2043 <sup>(f)(g)(i)</sup>  | 70 | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M1, (30-day Average USD-SOFR + 1.10%) 5.456% <br> 5/25/2044 <sup>(f)(g)(i)</sup>  | 58 | 58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M2, (30-day Average USD-SOFR + 1.60%) 5.956% <br> 9/25/2044 <sup>(f)(g)(i)</sup>  | 87 | 87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average <br> USD-SOFR + 2.15%) 6.506% 9/25/2042 <sup>(f)(g)(i)</sup>  | 9 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1B, (30-day Average <br> USD-SOFR + 3.70%) 8.056% 9/25/2042 <sup>(f)(g)(i)</sup>  | 64 | 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class M1, (30-day Average <br> USD-SOFR + 1.20%) 5.556% 5/25/2044 <sup>(f)(g)(i)</sup>  | 188 | 189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA3, Class M2, (30-day Average <br> USD-SOFR + 1.45%) 5.806% 10/25/2044 <sup>(f)(g)(i)</sup>  | 90 | 90 |
| GCAT Trust, Series 2024-NQM2, Class A1, 6.085% 6/25/2059 (7.359% on 5/1/2028) <sup>(f)(i)(j)</sup>  | 88 | 89 |
| Home Partners of America Trust, Series 2022-1, Class A, 3.93% 4/17/2039 <sup>(f)(i)</sup>  | 54 | 54 |
| HOMES Trust, Series 2024-NQM1, Class A1, 5.915% 7/25/2069 (6.915% on 7/1/2028) <sup>(f)(i)(j)</sup>  | 718 | 726 |
| Legacy Mortgage Asset Trust, Series 2021-GS2, Class A1, 5.75% 4/25/2061 <sup>(f)(i)</sup>  | 55 | 55 |
| Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 2.25% 7/25/2067 (6.25% on 11/25/2025) <sup>(f)(i)(j)</sup>  | 93 | 93 |
| MFRA Trust, Series 2024-NQM2, Class A1, 5.272% 8/25/2069 (6.272% on 8/1/2028) <sup>(f)(i)(j)</sup>  | 456 | 457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Residential Mortgage Loan Trust, Series 2024-NQM2, Class A1, 6.386% 5/25/2069 (7.386% on <br> 5/1/2028) <sup>(f)(i)(j)</sup>  | 112 | 113 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2024-HYB1, Class A1, 3.632% 3/25/2053 <sup>(f)(g)(i)</sup>  | 144 | 141 |
| Onslow Bay Financial, LLC, Series 2024-NQM7, Class A1, 6.243% 3/25/2064 (7.243% on 4/1/2028) <sup>(f)(i)(j)</sup>  | 159 | 161 |
| Onslow Bay Financial, LLC, Series 2024-NQM8, Class A1, 6.233% 5/25/2064 (7.233% on 5/1/2028) <sup>(f)(i)(j)</sup>  | 352 | 357 |
| Onslow Bay Financial, LLC, Series 2024-NQM11, Class A1, 5.875% 6/25/2064 (6.825% on 7/1/2028) <sup>(f)(i)(j)</sup>  | 906 | 916 |
| Progress Residential Trust, Series 2024-SFR5, Class B, 3.25% 8/9/2029 <sup>(f)(i)</sup>  | 554 | 524 |
| Progress Residential Trust, Series 2022-SFR3, Class A, 3.20% 4/17/2039 <sup>(f)(i)</sup>  | 95 | 94 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust, Series 2024-SFR4, Class A, (1-month USD CME Term SOFR + 1.75%) 5.90% <br> 10/17/2041 <sup>(f)(g)(i)</sup>  | 140 | 140 |
| Towd Point Mortgage Trust, Series 2017-6, Class A1, 2.75% 10/25/2057 <sup>(f)(g)(i)</sup>  | 15 | 15 |
| Towd Point Mortgage Trust, Series 2018-2, Class A1, 3.25% 3/25/2058 <sup>(f)(g)(i)</sup>  | 13 | 13 |
| Towd Point Mortgage Trust, Series 2018-5, Class A1A, 3.25% 7/25/2058 <sup>(f)(g)(i)</sup>  | 7 | 7 |
| Towd Point Mortgage Trust, Series 2020-4, Class A1, 1.75% 10/25/2060 <sup>(f)(i)</sup>  | 316 | 289 |
| Treehouse Park Improvement Association No.1 9.75% 12/1/2033 <sup>(b)(i)</sup>  | 100 | 100 |
| Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943% 7/17/2038 <sup>(f)(i)</sup>  | 195 | 191 |
| Tricon Residential Trust, Series 2024-SFR2, Class A, 4.75% 6/17/2040 <sup>(f)(i)</sup>  | 167 | 167 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.218% 6/25/2069 (7.218% on 5/1/2028) <sup>(f)(i)(j)</sup>  | 72 | 73 |
| Verus Securitization Trust, Series 2024-8, Class A1, 5.364% 10/25/2069 <sup>(f)(g)(i)</sup>  | 93 | 94 |
|  |  | 6964 |
| **Total mortgage-backed obligations** |  | 87115 |

---

American Funds Insurance Series — Page 91 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans 2.64%**<br> **Financials 0.50%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Aero Capital Solutions, Inc., Term Loan, (1-month USD CME Term SOFR + 3.00%) 7.61% 11/17/2029 <sup>(b)(g)(i)(k)</sup>  | USD233 | $231 |
| American Express Co. 4.90% 2/13/2026  | 28 | 28 |
| American Express Co. 5.085% 1/30/2031 (USD-SOFR + 1.02% on 1/30/2030) <sup>(j)</sup>  | 50 | 52 |
| American Express Co. 5.442% 1/30/2036 (USD-SOFR + 1.32% on 1/30/2035) <sup>(j)</sup>  | 28 | 29 |
| American International Group, Inc. 4.85% 5/7/2030  | 685 | 701 |
| American International Group, Inc. 5.125% 3/27/2033  | 17 | 18 |
| Aon Corp. 5.35% 2/28/2033  | 21 | 22 |
| Arthur J. Gallagher & Co. 4.85% 12/15/2029  | 125 | 128 |
| Arthur J. Gallagher & Co. 5.00% 2/15/2032  | 50 | 51 |
| Bank of America Corp. 2.884% 10/22/2030 (3-month USD CME Term SOFR + 1.19% on 10/22/2029) <sup>(j)</sup>  | 26 | 25 |
| Bank of America Corp. 5.162% 1/24/2031 (USD-SOFR + 1.00% on 1/24/2030) <sup>(j)</sup>  | 238 | 246 |
| Bank of America Corp. 5.288% 4/25/2034 (USD-SOFR + 1.91% on 4/25/2033) <sup>(j)</sup>  | 118 | 122 |
| Bank of America Corp. 5.464% 5/9/2036 (USD-SOFR + 1.64% on 5/9/2035) <sup>(j)</sup>  | 75 | 78 |
| CaixaBank SA 5.673% 3/15/2030 (USD-SOFR + 1.78% on 3/15/2029) <sup>(i)(j)</sup>  | 400 | 415 |
| CaixaBank SA 6.037% 6/15/2035 (USD-SOFR + 2.26% on 9/15/2034) <sup>(i)(j)</sup>  | 200 | 213 |
| Capital One Financial Corp. 6.377% 6/8/2034 (USD-SOFR + 2.86% on 6/8/2033) <sup>(j)</sup>  | 45 | 49 |
| Capital One Financial Corp. 6.051% 2/1/2035 (USD-SOFR + 2.26% on 2/1/2034) <sup>(j)</sup>  | 95 | 101 |
| Chubb INA Holdings, LLC 5.00% 3/15/2034  | 35 | 36 |
| Citigroup, Inc. 5.174% 2/13/2030 (USD-SOFR + 1.364% on 2/13/2029) <sup>(j)</sup>  | 50 | 51 |
| Citigroup, Inc. 4.542% 9/19/2030 (USD-SOFR + 1.338% on 9/19/2029) <sup>(j)</sup>  | 36 | 36 |
| Citigroup, Inc. 3.057% 1/25/2033 (USD-SOFR + 1.351% on 1/25/2032) <sup>(j)</sup>  | 35 | 32 |
| Citigroup, Inc. 6.02% 1/24/2036 (USD-SOFR + 1.83% on 1/24/2035) <sup>(j)</sup>  | 44 | 46 |
| Citigroup, Inc. 5.333% 3/27/2036 (USD-SOFR + 1.465% on 3/27/2035) <sup>(j)</sup>  | 55 | 56 |
| Citizens Financial Group, Inc. 5.841% 1/23/2030 (USD-SOFR + 2.01% on 1/23/2029) <sup>(j)</sup>  | 120 | 125 |
| Corebridge Financial, Inc. 3.85% 4/5/2029  | 180 | 177 |
| Corebridge Financial, Inc. 3.90% 4/5/2032  | 32 | 31 |
| Corebridge Financial, Inc. 4.35% 4/5/2042  | 7 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(i)(j)</sup>  | 200 | 200 |
| Deutsche Bank AG 6.819% 11/20/2029 (USD-SOFR + 2.51% on 11/20/2028) <sup>(j)</sup>  | 300 | 321 |
| Deutsche Bank AG 4.999% 9/11/2030 (USD-SOFR + 1.70% on 9/11/2029) <sup>(j)</sup>  | 150 | 152 |
| Fifth Third Bancorp 6.339% 7/27/2029 (USD-SOFR + 2.34% on 7/27/2028) <sup>(j)</sup>  | 5 | 5 |
| Goldman Sachs Group, Inc. 4.937% 4/23/2028 (USD-SOFR + 1.319% on 4/23/2027) <sup>(j)</sup>  | 45 | 46 |
| Goldman Sachs Group, Inc. 5.727% 4/25/2030 (USD-SOFR + 1.265% on 4/25/2029) <sup>(j)</sup>  | 60 | 63 |
| Goldman Sachs Group, Inc. 5.218% 4/23/2031 (USD-SOFR + 1.58% on 4/23/2030) <sup>(j)</sup>  | 40 | 41 |
| JPMorgan Chase & Co. 4.979% 7/22/2028 (USD-SOFR + 0.93% on 7/22/2027) <sup>(j)</sup>  | 65 | 66 |
| JPMorgan Chase & Co. 5.581% 4/22/2030 (USD-SOFR + 1.16% on 4/22/2029) <sup>(j)</sup>  | 50 | 52 |
| JPMorgan Chase & Co. 4.995% 7/22/2030 (USD-SOFR + 1.125% on 7/22/2029) <sup>(j)</sup>  | 198 | 203 |
| JPMorgan Chase & Co. 5.103% 4/22/2031 (USD-SOFR + 1.435% on 4/22/2030) <sup>(j)</sup>  | 52 | 54 |
| JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031) <sup>(j)</sup>  | 20 | 18 |
| JPMorgan Chase & Co. 5.294% 7/22/2035 (USD-SOFR + 1.46% on 7/22/2034) <sup>(j)</sup>  | 328 | 339 |
| JPMorgan Chase & Co. 5.572% 4/22/2036 (USD-SOFR + 1.68% on 4/22/2035) <sup>(j)</sup>  | 412 | 434 |
| Marsh & McLennan Cos., Inc. 5.00% 3/15/2035  | 25 | 25 |
| Marsh & McLennan Cos., Inc. 5.40% 3/15/2055  | 25 | 25 |
| Mastercard, Inc. 4.875% 3/9/2028  | 31 | 32 |
| Morgan Stanley 5.652% 4/13/2028 (USD-SOFR + 1.01% on 4/13/2027) <sup>(j)</sup>  | 25 | 26 |
| Morgan Stanley 4.994% 4/12/2029 (USD-SOFR + 1.38% on 4/12/2028) <sup>(j)</sup>  | 10 | 10 |
| Morgan Stanley 5.656% 4/18/2030 (USD-SOFR + 1.26% on 4/18/2029) <sup>(j)</sup>  | 140 | 146 |
| Morgan Stanley 4.654% 10/18/2030 (USD-SOFR + 1.10% on 10/18/2029) <sup>(j)</sup>  | 488 | 493 |
| Morgan Stanley 5.424% 7/21/2034 (USD-SOFR + 1.88% on 7/21/2033) <sup>(j)</sup>  | 35 | 36 |
| Morgan Stanley 5.32% 7/19/2035 (USD-SOFR + 1.555% on 7/19/2034) <sup>(j)</sup>  | 57 | 59 |
| Morgan Stanley 5.664% 4/17/2036 (USD-SOFR + 1.757% on 4/17/2035) <sup>(j)</sup>  | 129 | 136 |
| Navient Corp. 5.00% 3/15/2027  | 150 | 149 |
| New York Life Global Funding 3.00% 1/10/2028 <sup>(i)</sup>  | 150 | 147 |

---

American Funds Insurance Series — Page 92 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Financials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| OneMain Finance Corp. 6.625% 5/15/2029  | USD340 | $350 |
| Osaic Holdings, Inc. 6.75% 8/1/2032 <sup>(i)</sup>  | 25 | 26 |
| PNC Financial Services Group, Inc. 5.582% 6/12/2029 (USD-SOFR + 1.841% on 6/12/2028) <sup>(j)</sup>  | 50 | 52 |
| Ryan Specialty, LLC 5.875% 8/1/2032 <sup>(i)</sup>  | 100 | 101 |
| Truist Financial Corp. 5.435% 1/24/2030 (USD-SOFR + 1.62% on 1/24/2029) <sup>(j)</sup>  | 11 | 11 |
| Truist Financial Corp. 5.153% 8/5/2032 (USD-SOFR + 1.571% on 8/5/2031) <sup>(j)</sup>  | 50 | 51 |
| Truist Financial Corp. 5.867% 6/8/2034 (USD-SOFR + 2.361% on 6/8/2033) <sup>(j)</sup>  | 10 | 11 |
| Truist Financial Corp. 5.711% 1/24/2035 (USD-SOFR + 1.922% on 1/24/2034) <sup>(j)</sup>  | 40 | 42 |
| U.S. Bancorp 5.775% 6/12/2029 (USD-SOFR + 2.02% on 6/12/2028) <sup>(j)</sup>  | 70 | 73 |
| U.S. Bancorp 5.384% 1/23/2030 (USD-SOFR + 1.56% on 1/23/2029) <sup>(j)</sup>  | 85 | 88 |
| UBS Group AG 5.617% 9/13/2030 (1-year USD-ICE SOFR Swap + 1.34% on 9/13/2029) <sup>(i)(j)</sup>  | 200 | 209 |
| UBS Group AG 4.194% 4/1/2031 (USD-SOFR + 3.73% on 4/1/2030) <sup>(i)(j)</sup>  | 374 | 370 |
| Wells Fargo & Co. 5.707% 4/22/2028 (USD-SOFR + 1.07% on 4/22/2027) <sup>(j)</sup>  | 98 | 100 |
| Wells Fargo & Co. 5.15% 4/23/2031 (USD-SOFR + 1.50% on 4/23/2030) <sup>(j)</sup>  | 55 | 57 |
| Wells Fargo & Co. 6.491% 10/23/2034 (USD-SOFR + 2.06% on 10/23/2033) <sup>(j)</sup>  | 104 | 116 |
| Wells Fargo & Co. 5.605% 4/23/2036 (USD-SOFR + 1.74% on 4/23/2035) <sup>(j)</sup>  | 80 | 84 |
|  |  | 8124 |
| **Health care 0.33%** |  |  |
| AbbVie, Inc. 5.05% 3/15/2034  | 175 | 180 |
| AbbVie, Inc. 5.35% 3/15/2044  | 25 | 25 |
| AbbVie, Inc. 5.40% 3/15/2054  | 240 | 239 |
| AbbVie, Inc. 5.50% 3/15/2064  | 25 | 25 |
| Amgen, Inc. 5.15% 3/2/2028  | 55 | 56 |
| Amgen, Inc. 4.05% 8/18/2029  | 100 | 100 |
| Amgen, Inc. 5.25% 3/2/2030  | 124 | 129 |
| Amgen, Inc. 4.20% 3/1/2033  | 133 | 129 |
| Amgen, Inc. 5.25% 3/2/2033  | 71 | 74 |
| Amgen, Inc. 5.60% 3/2/2043  | 105 | 106 |
| Amgen, Inc. 4.20% 2/22/2052  | 19 | 15 |
| Amgen, Inc. 4.875% 3/1/2053  | 25 | 22 |
| Amgen, Inc. 5.65% 3/2/2053  | 37 | 37 |
| Amgen, Inc. 5.75% 3/2/2063  | 85 | 85 |
| AstraZeneca Finance, LLC 5.00% 2/26/2034  | 50 | 52 |
| Baxter International, Inc. 3.132% 12/1/2051  | 25 | 16 |
| Bristol-Myers Squibb Co. 4.90% 2/22/2029  | 95 | 98 |
| Bristol-Myers Squibb Co. 5.10% 2/22/2031  | 260 | 271 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 295 | 306 |
| Bristol-Myers Squibb Co. 5.50% 2/22/2044  | 25 | 25 |
| Bristol-Myers Squibb Co. 5.55% 2/22/2054  | 325 | 324 |
| Bristol-Myers Squibb Co. 5.65% 2/22/2064  | 100 | 99 |
| Centene Corp. 4.625% 12/15/2029  | 530 | 514 |
| Centene Corp. 2.625% 8/1/2031  | 40 | 34 |
| CVS Health Corp. 5.125% 2/21/2030  | 50 | 51 |
| CVS Health Corp. 5.25% 2/21/2033  | 23 | 24 |
| CVS Health Corp. 5.70% 6/1/2034  | 97 | 101 |
| CVS Health Corp. 6.00% 6/1/2044  | 50 | 51 |
| CVS Health Corp. 6.05% 6/1/2054  | 50 | 51 |
| CVS Health Corp. 6.20% 9/15/2055  | 50 | 52 |
| Elevance Health, Inc. 4.95% 11/1/2031  | 30 | 31 |
| Elevance Health, Inc. 5.20% 2/15/2035  | 13 | 13 |
| Gilead Sciences, Inc. 1.65% 10/1/2030  | 8 | 7 |
| HCA, Inc. 2.375% 7/15/2031  | 18 | 16 |
| Humana, Inc. 3.70% 3/23/2029  | 12 | 12 |

---

American Funds Insurance Series — Page 93 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Health care (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Humana, Inc. 5.375% 4/15/2031  | USD35 | $36 |
| Medline Borrower, LP 6.25% 4/1/2029 <sup>(i)</sup>  | 380 | 390 |
| Merck & Co., Inc. 1.70% 6/10/2027  | 118 | 114 |
| Merck & Co., Inc. 3.40% 3/7/2029  | 110 | 108 |
| Merck & Co., Inc. 4.50% 5/17/2033  | 35 | 35 |
| Merck & Co., Inc. 4.90% 5/17/2044  | 35 | 33 |
| Molina Healthcare, Inc. 3.875% 5/15/2032 <sup>(i)</sup>  | 40 | 36 |
| Owens & Minor, Inc. 6.625% 4/1/2030 <sup>(i)</sup>  | 90 | 74 |
| Pfizer Investment Enterprises Pte., Ltd. 4.65% 5/19/2030  | 10 | 10 |
| Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033  | 23 | 23 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 17 | 16 |
| Shire Acquisitions Investments Ireland DAC 3.20% 9/23/2026  | 7 | 7 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 362 | 364 |
| Teva Pharmaceutical Finance Netherlands III BV 7.875% 9/15/2029  | 600 | 656 |
| Teva Pharmaceutical Finance Netherlands III BV 4.10% 10/1/2046  | 89 | 67 |
|  |  | 5339 |
| **Energy 0.31%** |  |  |
| APA Corp. 4.25% 1/15/2030  | 385 | 373 |
| Baytex Energy Corp. 7.375% 3/15/2032 <sup>(i)</sup>  | 600 | 588 |
| Cenovus Energy, Inc. 5.40% 6/15/2047  | 44 | 41 |
| Columbia Pipelines Operating Co., LLC 5.927% 8/15/2030 <sup>(i)</sup>  | 9 | 10 |
| ConocoPhillips Co. 5.50% 1/15/2055  | 50 | 49 |
| Crescent Energy Finance, LLC 7.375% 1/15/2033 <sup>(i)</sup>  | 270 | 263 |
| Energy Transfer, LP 6.10% 12/1/2028  | 41 | 43 |
| Energy Transfer, LP 5.25% 7/1/2029  | 23 | 24 |
| Energy Transfer, LP 6.40% 12/1/2030  | 34 | 37 |
| Enterprise Products Operating, LLC 4.95% 2/15/2035  | 6 | 6 |
| EOG Resources, Inc. 5.95% 7/15/2055  | 110 | 115 |
| Equinor ASA 2.375% 5/22/2030  | 365 | 338 |
| Exxon Mobil Corp. 3.452% 4/15/2051  | 210 | 154 |
| Hess Midstream Operations, LP 5.875% 3/1/2028 <sup>(i)</sup>  | 35 | 36 |
| Hilcorp Energy I, LP 6.875% 5/15/2034 <sup>(i)</sup>  | 400 | 386 |
| NFE Financing, LLC 12.00% 11/15/2029 <sup>(i)</sup>  | 148 | 44 |
| Occidental Petroleum Corp. 5.55% 10/1/2034  | 124 | 126 |
| Petroleos Mexicanos 5.35% 2/12/2028  | 985 | 981 |
| Petroleos Mexicanos 6.50% 1/23/2029  | 20 | 20 |
| Petroleos Mexicanos 8.75% 6/2/2029  | 176 | 190 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 300 | 305 |
| Sunoco, LP 5.625% 3/15/2031 <sup>(i)</sup>  | 20 | 20 |
| Sunoco, LP 5.875% 3/15/2034 <sup>(i)</sup>  | 20 | 20 |
| TotalEnergies Capital SA 4.724% 9/10/2034  | 17 | 17 |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031 <sup>(i)</sup>  | 595 | 562 |
| Venture Global Plaquemines LNG, LLC 6.50% 1/15/2034 <sup>(i)</sup>  | 195 | 205 |
| Venture Global Plaquemines LNG, LLC 7.75% 5/1/2035 <sup>(i)</sup>  | 75 | 85 |
|  |  | 5038 |
| **Communication services 0.29%** |  |  |
| America Movil, SAB de CV, 8.46% 12/18/2036  | MXN1,300 | 67 |
| AT&T, Inc. 3.50% 6/1/2041  | USD75 | 60 |
| CCO Holdings, LLC 4.75% 2/1/2032 <sup>(i)</sup>  | 25 | 23 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(i)</sup>  | 655 | 567 |
| Charter Communications Operating, LLC 6.10% 6/1/2029  | 41 | 43 |
| Charter Communications Operating, LLC 5.85% 12/1/2035  | 17 | 17 |

---

American Funds Insurance Series — Page 94 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Communication services (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Charter Communications Operating, LLC 6.70% 12/1/2055  | USD10 | $10 |
| EchoStar Corp. 10.75% 11/30/2029  | 64 | 70 |
| EchoStar Corp. 6.75% PIK 11/30/2030 <sup>(l)</sup>  | 313 | 323 |
| Lindblad Expeditions, LLC 7.00% 9/15/2030 <sup>(i)</sup>  | 195 | 199 |
| Meta Platforms, Inc. 4.30% 8/15/2029  | 40 | 41 |
| Meta Platforms, Inc. 4.75% 8/15/2034  | 53 | 54 |
| Meta Platforms, Inc. 5.40% 8/15/2054  | 29 | 29 |
| Meta Platforms, Inc. 5.55% 8/15/2064  | 40 | 40 |
| Netflix, Inc. 4.90% 8/15/2034  | 16 | 17 |
| Netflix, Inc. 5.40% 8/15/2054  | 6 | 6 |
| SBA Tower Trust 1.631% 11/15/2026 <sup>(i)</sup>  | 253 | 246 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(i)</sup>  | 780 | 754 |
| TEGNA, Inc. 5.00% 9/15/2029  | 360 | 358 |
| T-Mobile USA, Inc. 3.875% 4/15/2030  | 625 | 613 |
| T-Mobile USA, Inc. 2.55% 2/15/2031  | 203 | 184 |
| T-Mobile USA, Inc. 6.00% 6/15/2054  | 69 | 71 |
| Univision Communications, Inc. 7.375% 6/30/2030 <sup>(i)</sup>  | 340 | 342 |
| Verizon Communications, Inc. 1.75% 1/20/2031  | 142 | 124 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042  | 522 | 417 |
|  |  | 4675 |
| **Utilities 0.23%** |  |  |
| AEP Transmission Co., LLC 2.75% 8/15/2051  | 50 | 32 |
| DTE Energy Co. 3.00% 3/1/2032  | 42 | 39 |
| Duke Energy Florida, LLC 5.95% 11/15/2052  | 25 | 26 |
| Edison International 4.125% 3/15/2028  | 132 | 130 |
| Edison International 5.45% 6/15/2029  | 100 | 101 |
| Edison International 5.25% 3/15/2032  | 389 | 386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(i)(j)</sup>  | 200 | 232 |
| FirstEnergy Corp. 2.65% 3/1/2030  | 393 | 365 |
| FirstEnergy Corp. 2.25% 9/1/2030  | 107 | 96 |
| Florida Power & Light Co. 5.10% 4/1/2033  | 35 | 36 |
| NiSource, Inc. 5.40% 6/30/2033  | 25 | 26 |
| Pacific Gas and Electric Co. 2.95% 3/1/2026  | 97 | 96 |
| Pacific Gas and Electric Co. 3.75% 7/1/2028  | 105 | 103 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 284 | 285 |
| Pacific Gas and Electric Co. 2.50% 2/1/2031  | 375 | 334 |
| Pacific Gas and Electric Co. 6.40% 6/15/2033  | 50 | 54 |
| Pacific Gas and Electric Co. 5.70% 3/1/2035  | 377 | 386 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 162 | 139 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | 256 | 175 |
| Pacific Gas and Electric Co. 5.90% 10/1/2054  | 25 | 24 |
| PacifiCorp 5.50% 5/15/2054  | 95 | 90 |
| PacifiCorp 5.80% 1/15/2055  | 25 | 25 |
| Southern California Edison Co. 5.20% 6/1/2034  | 40 | 40 |
| Southern California Edison Co. 3.60% 2/1/2045  | 206 | 151 |
| Southern California Edison Co. 5.90% 3/1/2055  | 30 | 29 |
| Union Electric Co. 3.90% 4/1/2052  | 25 | 20 |
| WEC Energy Group, Inc. 5.15% 10/1/2027  | 25 | 25 |
| Xcel Energy, Inc. 4.75% 3/21/2028  | 264 | 267 |
|  |  | 3712 |

---

American Funds Insurance Series — Page 95 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Consumer discretionary 0.21%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Advance Auto Parts, Inc. 3.90% 4/15/2030  | USD8 | $7 |
| Advance Auto Parts, Inc. 3.50% 3/15/2032  | 7 | 6 |
| Bath & Body Works, Inc. 6.875% 11/1/2035  | 150 | 156 |
| BMW US Capital, LLC 4.15% 4/9/2030 <sup>(i)</sup>  | 290 | 288 |
| BMW US Capital, LLC 3.70% 4/1/2032 <sup>(i)</sup>  | 25 | 24 |
| Carnival Corp. 6.125% 2/15/2033 <sup>(i)</sup>  | 175 | 180 |
| Daimler Trucks Finance North America, LLC 5.15% 1/16/2026 <sup>(i)</sup>  | 150 | 150 |
| Daimler Trucks Finance North America, LLC 5.125% 9/25/2027 <sup>(i)</sup>  | 150 | 153 |
| Daimler Trucks Finance North America, LLC 2.50% 12/14/2031 <sup>(i)</sup>  | 150 | 133 |
| Ford Motor Credit Co., LLC 2.70% 8/10/2026  | 306 | 301 |
| Ford Motor Credit Co., LLC 4.95% 5/28/2027  | 604 | 603 |
| Ford Motor Credit Co., LLC 5.918% 3/20/2028  | 622 | 633 |
| Ford Motor Credit Co., LLC 6.798% 11/7/2028  | 200 | 209 |
| General Motors Financial Co., Inc. 5.45% 9/6/2034  | 11 | 11 |
| General Motors Financial Co., Inc. 6.15% 7/15/2035  | 16 | 17 |
| Hyundai Capital America 5.275% 6/24/2027 <sup>(i)</sup>  | 55 | 56 |
| McDonald's Corp. 5.15% 9/9/2052  | 10 | 9 |
| Newell Brands, Inc. 6.375% 5/15/2030  | 65 | 65 |
| Nissan Motor Acceptance Co., LLC 6.125% 9/30/2030 <sup>(i)</sup>  | 150 | 150 |
| Toyota Motor Credit Corp. 5.40% 11/10/2025  | 228 | 228 |
|  |  | 3379 |
| **Industrials 0.18%** |  |  |
| BAE Systems PLC 5.30% 3/26/2034 <sup>(i)</sup>  | 200 | 207 |
| Boeing Co. (The) 2.75% 2/1/2026  | 91 | 91 |
| Boeing Co. (The) 6.259% 5/1/2027  | 376 | 387 |
| Boeing Co. (The) 6.298% 5/1/2029  | 12 | 13 |
| Boeing Co. (The) 3.625% 2/1/2031  | 178 | 171 |
| Boeing Co. (The) 6.388% 5/1/2031  | 92 | 100 |
| Boeing Co. (The) 6.528% 5/1/2034  | 921 | 1019 |
| Boeing Co. (The) 5.805% 5/1/2050  | 136 | 136 |
| Canadian Pacific Railway Co. 3.00% 12/2/2041  | 25 | 19 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 80 | 54 |
| CSX Corp. 4.75% 11/15/2048  | 50 | 45 |
| CSX Corp. 4.50% 11/15/2052  | 35 | 30 |
| Herc Holdings, Inc. 7.25% 6/15/2033 <sup>(i)</sup>  | 90 | 94 |
| L3Harris Technologies, Inc. 5.40% 7/31/2033  | 15 | 16 |
| L3Harris Technologies, Inc. 5.60% 7/31/2053  | 13 | 13 |
| Moog, Inc. 4.25% 12/9/2027 <sup>(i)</sup>  | 55 | 54 |
| Norfolk Southern Corp. 5.35% 8/1/2054  | 51 | 50 |
| Northrop Grumman Corp. 4.95% 3/15/2053  | 21 | 19 |
| QXO Building Products, Inc. 6.75% 4/30/2032 <sup>(i)</sup>  | 190 | 197 |
| Republic Services, Inc. 5.00% 4/1/2034  | 13 | 13 |
| RTX Corp. 6.00% 3/15/2031  | 35 | 38 |
| RTX Corp. 6.10% 3/15/2034  | 27 | 30 |
| RTX Corp. 6.40% 3/15/2054  | 22 | 25 |
| Union Pacific Corp. 2.80% 2/14/2032  | 17 | 16 |
| Union Pacific Corp. 3.50% 2/14/2053  | 20 | 14 |
| Waste Management, Inc. 4.625% 2/15/2030  | 60 | 61 |
| Waste Management, Inc. 4.95% 3/15/2035  | 16 | 16 |
| Waste Management, Inc. 5.35% 10/15/2054  | 25 | 25 |
|  |  | 2953 |

---

American Funds Insurance Series — Page 96 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Information technology 0.18%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Broadcom, Inc. 5.05% 7/12/2027  | USD40 | $41 |
| Broadcom, Inc. 4.00% 4/15/2029 <sup>(i)</sup>  | 3 | 3 |
| Broadcom, Inc. 5.05% 7/12/2029  | 45 | 46 |
| Broadcom, Inc. 5.15% 11/15/2031  | 104 | 108 |
| Broadcom, Inc. 4.15% 4/15/2032 <sup>(i)</sup>  | 11 | 11 |
| Broadcom, Inc. 4.80% 10/15/2034  | 12 | 12 |
| Broadcom, Inc. 3.137% 11/15/2035 <sup>(i)</sup>  | 2 | 2 |
| Cisco Systems, Inc. 4.95% 2/26/2031  | 11 | 11 |
| Cisco Systems, Inc. 5.05% 2/26/2034  | 4 | 4 |
| Cisco Systems, Inc. 5.10% 2/24/2035  | 14 | 14 |
| Cisco Systems, Inc. 5.30% 2/26/2054  | 8 | 8 |
| Cisco Systems, Inc. 5.35% 2/26/2064  | 11 | 11 |
| Diebold Nixdorf, Inc. 7.75% 3/31/2030 <sup>(i)</sup>  | 250 | 264 |
| Fair Isaac Corp. 6.00% 5/15/2033 <sup>(i)</sup>  | 100 | 102 |
| Hughes Satellite Systems Corp. 5.25% 8/1/2026  | 52 | 51 |
| Hughes Satellite Systems Corp. 6.625% 8/1/2026  | 58 | 55 |
| Intel Corp. 3.05% 8/12/2051  | 10 | 6 |
| Intel Corp. 5.60% 2/21/2054  | 42 | 40 |
| Intel Corp. 3.10% 2/15/2060  | 110 | 65 |
| Oracle Corp. 4.80% 9/26/2032  | 55 | 55 |
| Oracle Corp. 5.50% 8/3/2035  | 18 | 19 |
| Oracle Corp. 5.20% 9/26/2035  | 405 | 407 |
| Oracle Corp. 5.875% 9/26/2045  | 40 | 40 |
| Oracle Corp. 6.00% 8/3/2055  | 110 | 111 |
| Oracle Corp. 5.95% 9/26/2055  | 95 | 95 |
| Oracle Corp. 6.10% 9/26/2065  | 40 | 40 |
| Synopsys, Inc. 4.65% 4/1/2028  | 40 | 40 |
| Synopsys, Inc. 4.85% 4/1/2030  | 40 | 41 |
| Synopsys, Inc. 5.00% 4/1/2032  | 40 | 41 |
| Synopsys, Inc. 5.15% 4/1/2035  | 780 | 794 |
| Synopsys, Inc. 5.70% 4/1/2055  | 380 | 384 |
|  |  | 2921 |
| **Consumer staples 0.16%** |  |  |
| Altria Group, Inc. 4.875% 2/4/2028  | 13 | 13 |
| Altria Group, Inc. 5.25% 8/6/2035  | 48 | 49 |
| BAT Capital Corp. 4.70% 4/2/2027  | 105 | 106 |
| BAT Capital Corp. 6.343% 8/2/2030  | 9 | 10 |
| BAT Capital Corp. 5.35% 8/15/2032  | 413 | 427 |
| BAT Capital Corp. 6.421% 8/2/2033  | 38 | 42 |
| BAT Capital Corp. 7.079% 8/2/2043  | 31 | 35 |
| BAT Capital Corp. 4.54% 8/15/2047  | 55 | 46 |
| BAT Capital Corp. 4.758% 9/6/2049  | 121 | 103 |
| BAT Capital Corp. 7.081% 8/2/2053  | 69 | 79 |
| BAT International Finance PLC 4.448% 3/16/2028  | 150 | 151 |
| H.J. Heinz Co. 4.875% 10/1/2049  | 235 | 206 |
| Mars, Inc. 4.80% 3/1/2030 <sup>(i)</sup>  | 25 | 25 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(i)</sup>  | 165 | 169 |
| Mars, Inc. 5.65% 5/1/2045 <sup>(i)</sup>  | 71 | 72 |
| Mars, Inc. 5.70% 5/1/2055 <sup>(i)</sup>  | 145 | 147 |
| Mars, Inc. 5.80% 5/1/2065 <sup>(i)</sup>  | 24 | 24 |
| Mondelez International, Inc. 4.75% 8/28/2034  | 127 | 127 |
| Philip Morris International, Inc. 5.125% 11/17/2027  | 43 | 44 |
| Philip Morris International, Inc. 5.625% 11/17/2029  | 23 | 24 |

---

American Funds Insurance Series — Page 97 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Consumer staples (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Philip Morris International, Inc. 5.125% 2/15/2030  | USD56 | $58 |
| Philip Morris International, Inc. 5.50% 9/7/2030  | 70 | 74 |
| Philip Morris International, Inc. 5.75% 11/17/2032  | 16 | 17 |
| Philip Morris International, Inc. 5.375% 2/15/2033  | 55 | 57 |
| Philip Morris International, Inc. 5.625% 9/7/2033  | 30 | 32 |
| Philip Morris International, Inc. 4.90% 11/1/2034  | 90 | 91 |
| Post Holdings, Inc. 6.375% 3/1/2033 <sup>(i)</sup>  | 330 | 334 |
|  |  | 2562 |
| **Real estate 0.15%** |  |  |
| American Tower Corp. 4.05% 3/15/2032  | 11 | 11 |
| Boston Properties, LP 2.45% 10/1/2033  | 7 | 6 |
| Boston Properties, LP 6.50% 1/15/2034  | 38 | 41 |
| Boston Properties, LP 5.75% 1/15/2035  | 95 | 97 |
| Crown Castle, Inc. 5.00% 1/11/2028  | 54 | 55 |
| Iron Mountain, Inc. 4.50% 2/15/2031 <sup>(i)</sup>  | 530 | 506 |
| Kennedy-Wilson, Inc. 5.00% 3/1/2031  | 550 | 512 |
| Ladder Capital Finance Holdings LLLP 7.00% 7/15/2031 <sup>(i)</sup>  | 20 | 21 |
| MPT Operating Partnership, LP 5.00% 10/15/2027  | 475 | 460 |
| Prologis, LP 5.00% 3/15/2034  | 40 | 41 |
| Service Properties Trust 0% 9/30/2027 <sup>(i)</sup>  | 45 | 40 |
| Service Properties Trust 8.375% 6/15/2029  | 680 | 691 |
|  |  | 2481 |
| **Materials 0.10%** |  |  |
| BHP Billiton Finance (USA), Ltd. 4.875% 2/27/2026  | 35 | 35 |
| BHP Billiton Finance (USA), Ltd. 4.75% 2/28/2028  | 35 | 36 |
| BHP Billiton Finance (USA), Ltd. 4.90% 2/28/2033  | 16 | 16 |
| BHP Billiton Finance (USA), Ltd. 5.25% 9/8/2033  | 7 | 7 |
| BHP Billiton Finance (USA), Ltd. 5.75% 9/5/2055  | 28 | 29 |
| Celanese US Holdings, LLC 6.85% 11/15/2028  | 36 | 37 |
| Celanese US Holdings, LLC 7.05% 11/15/2030  | 27 | 28 |
| Celanese US Holdings, LLC 6.879% 7/15/2032  | 10 | 10 |
| Celanese US Holdings, LLC 7.20% 11/15/2033  | 23 | 24 |
| Cleveland-Cliffs, Inc. 7.50% 9/15/2031 <sup>(i)</sup>  | 125 | 129 |
| Cleveland-Cliffs, Inc. 7.625% 1/15/2034 <sup>(i)</sup>  | 40 | 41 |
| Consolidated Energy Finance SA 5.625% 10/15/2028 <sup>(i)</sup>  | 750 | 629 |
| Dow Chemical Co. (The) 5.15% 2/15/2034  | 3 | 3 |
| Dow Chemical Co. (The) 5.35% 3/15/2035  | 7 | 7 |
| Dow Chemical Co. (The) 5.65% 3/15/2036  | 4 | 4 |
| Dow Chemical Co. (The) 5.55% 11/30/2048  | 15 | 14 |
| Dow Chemical Co. (The) 3.60% 11/15/2050  | 75 | 51 |
| Dow Chemical Co. (The) 6.90% 5/15/2053  | 6 | 6 |
| Dow Chemical Co. (The) 5.60% 2/15/2054  | 63 | 57 |
| LYB International Finance III, LLC 3.625% 4/1/2051  | 102 | 68 |
| NOVA Chemicals Corp. 8.50% 11/15/2028 <sup>(i)</sup>  | 10 | 11 |
| NOVA Chemicals Corp. 4.25% 5/15/2029 <sup>(i)</sup>  | 325 | 315 |
|  |  | 1557 |
| **Total corporate bonds, notes & loans** |  | 42741 |

---

American Funds Insurance Series — Page 98 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Asset-backed obligations 0.83%**<br> **Other asset-backed securities 0.43%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Affirm, Inc., Series 2024-A, Class A, 5.61% 2/15/2029 <sup>(f)(i)</sup>  | USD215 | $216 |
| Auxilior Term Funding, LLC, Series 24-1, Class A2, 5.84% 3/15/2027 <sup>(f)(i)</sup>  | 164 | 165 |
| AXIS Equipment Finance Receivables, LLC, Series 2024-2, Class A2, 5.19% 7/21/2031 <sup>(f)(i)</sup>  | 311 | 316 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class A2, 5.05% 3/15/2029 <sup>(f)(i)</sup>  | 56 | 56 |
| Capteris Equipment Finance, Series 2024-1, Class A2, 5.58% 7/20/2032 <sup>(f)(i)</sup>  | 597 | 607 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060 <sup>(f)(i)</sup>  | 349 | 302 |
| CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/2060 <sup>(f)(i)</sup>  | 87 | 74 |
| CF Hippolyta, LLC, Series 2020-1, Class B1, 2.28% 7/15/2060 <sup>(f)(i)</sup>  | 90 | 64 |
| CF Hippolyta, LLC, Series 2020-1, Class B2, 2.60% 7/15/2060 <sup>(f)(i)</sup>  | 90 | 63 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061 <sup>(f)(i)</sup>  | 314 | 263 |
| CF Hippolyta, LLC, Series 2022-1A, Class A1, 5.97% 8/15/2062 <sup>(f)(i)</sup>  | 486 | 472 |
| Clarus Capital Funding, LLC, Series 2024-1A, Class A2, 4.71% 8/20/2032 <sup>(f)(i)</sup>  | 215 | 216 |
| EquipmentShare, Series 2024-2M, Class B, 6.43% 12/20/2032 <sup>(f)(i)</sup>  | 142 | 144 |
| GCI Funding I, LLC, Series 2020-1, Class A, 2.82% 10/18/2045 <sup>(f)(i)</sup>  | 334 | 317 |
| GCI Funding I, LLC, Series 2021-1, Class A, 2.38% 6/18/2046 <sup>(f)(i)</sup>  | 62 | 58 |
| Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 8/17/2039 <sup>(f)(i)</sup>  | 78 | 76 |
| Global SC Finance V SRL, Series 2020-1A, Class A, 2.17% 10/17/2040 <sup>(f)(i)</sup>  | 297 | 285 |
| Horizon Aircraft Finance, Series 2024-1, Class A, 5.375% 9/15/2049 <sup>(f)(i)</sup>  | 359 | 363 |
| Merchants Fleet Funding, LLC, Series 2024-1, Class A, 5.82% 4/20/2037 <sup>(f)(i)</sup>  | 154 | 155 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(f)(i)</sup>  | 935 | 783 |
| NMEF Funding, LLC, Series 2024-A, Class A2, 5.15% 12/15/2031 <sup>(f)(i)</sup>  | 379 | 382 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class A, 6.27% 6/17/2031 <sup>(f)(i)</sup>  | 100 | 101 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-2A, Class A, 4.98% 10/17/2031 <sup>(f)(i)</sup>  | 127 | 127 |
| Oportun Funding, LLC, Series 2021-B, Class A, 1.47% 5/8/2031 <sup>(f)(i)</sup>  | 27 | 27 |
| PEAC Solutions Receivables, LLC, Series 2024-2A, Class A2, 4.74% 4/20/2027 <sup>(f)(i)</sup>  | 116 | 117 |
| PEAC Solutions Receivables, LLC, Series 2024-1A, Class A2, 5.79% 6/21/2027 <sup>(f)(i)</sup>  | 176 | 178 |
| PFS Financing Corp., Series 2023-B, Class A, 5.27% 5/15/2028 <sup>(f)(i)</sup>  | 175 | 176 |
| PK ALIFT Loan Funding 4, LP, Series 2024-2, Class A, 5.052% 10/15/2039 <sup>(f)(i)</sup>  | 188 | 188 |
| Post Road Equipment Finance, Series 2024-1, Class A2, 5.59% 11/15/2029 <sup>(f)(i)</sup>  | 69 | 70 |
| Reach Financial, LLC, Series 2024-2, Class A, 5.88% 7/15/2031 <sup>(f)(i)</sup>  | 140 | 141 |
| SCF Equipment Leasing, LLC, Series 2024-1A, Class A2, 5.88% 11/20/2029 <sup>(f)(i)</sup>  | 54 | 54 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/2033 <sup>(f)(i)</sup>  | 75 | 72 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(f)(i)</sup>  | 225 | 226 |
| Verdant Receivables, LLC, Series 2024-1, Class A2, 5.68% 12/12/2031 <sup>(f)(i)</sup>  | 77 | 78 |
|  |  | 6932 |
| **Auto loan 0.32%** |  |  |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/2027 <sup>(f)(i)</sup>  | 164 | 163 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/2027 <sup>(f)(i)</sup>  | 83 | 83 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/2029 <sup>(f)(i)</sup>  | 339 | 354 |
| CPS Auto Receivables Trust, Series 2024-C, Class B, 5.68% 12/15/2028 <sup>(f)(i)</sup>  | 497 | 501 |
| Drive Auto Receivables Trust, Series 2024-2, Class A2, 4.94% 12/15/2027 <sup>(f)</sup>  | 71 | 71 |
| Enterprise Fleet Financing, LLC, Series 2024-3, Class A2, 5.31% 4/20/2027 <sup>(f)(i)</sup>  | 254 | 256 |
| Enterprise Fleet Financing, LLC, Series 2024-4, Class A2, 4.69% 7/20/2027 <sup>(f)(i)</sup>  | 182 | 183 |
| Enterprise Fleet Financing, LLC, Series 2024-1, Class A2, 5.23% 3/20/2030 <sup>(f)(i)</sup>  | 325 | 328 |
| Ford Credit Auto Owner Trust, Series 2023-1, Class A, 4.85% 8/15/2035 <sup>(f)(i)</sup>  | 176 | 179 |
| Ford Credit Auto Owner Trust, Series 2023-2, Class A, 5.28% 2/15/2036 <sup>(f)(i)</sup>  | 181 | 187 |
| Ford Credit Floorplan Master Owner Trust, Series 2023-1, Class A1, 4.92% 5/15/2028 <sup>(f)(i)</sup>  | 188 | 189 |
| GLS Auto Receivables Trust, Series 2024-3A, Class A2, 5.35% 8/16/2027 <sup>(f)(i)</sup>  | 29 | 29 |
| GLS Auto Select Receivables Trust, Series 2024-4A, Class A2, 4.43% 12/17/2029 <sup>(f)(i)</sup>  | 76 | 76 |
| GM Financial Revolving Receivables Trust, Series 2023-1, Class A, 5.12% 4/11/2035 <sup>(f)(i)</sup>  | 285 | 292 |
| GM Financial Revolving Receivables Trust, Series 2022-1, Class A, 5.91% 10/11/2035 <sup>(f)(i)</sup>  | 184 | 191 |
| GM Financial Securitized Term Auto Receivables Trust, Series 2023-2, Class A3, 4.47% 2/16/2028 <sup>(f)</sup>  | 14 | 14 |
| GM Financial Securitized Term Auto Receivables Trust, Series 2023-2, Class A4, 4.43% 10/16/2028 <sup>(f)</sup>  | 48 | 48 |

---

American Funds Insurance Series — Page 99 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Asset-backed obligations (continued)**<br> **Auto loan (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027 <sup>(f)(i)</sup>  | USD268 | $261 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027 <sup>(f)(i)</sup>  | 100 | 97 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class C, 2.52% 12/27/2027 <sup>(f)(i)</sup>  | 100 | 97 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class A, 5.44% 1/25/2029 <sup>(f)(i)</sup>  | 187 | 191 |
| Hyundai Auto Receivables Trust, Series 2023-A, Class A3, 4.58% 4/15/2027 <sup>(f)</sup>  | 9 | 9 |
| Hyundai Auto Receivables Trust, Series 2023-A, Class A4, 4.48% 7/17/2028 <sup>(f)</sup>  | 28 | 28 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class A2, 5.41% 7/15/2027 <sup>(f)</sup>  | 15 | 15 |
| Toyota Auto Loan Extended Note Trust, Series 2021-1, Class A, 1.07% 2/27/2034 <sup>(f)(i)</sup>  | 335 | 331 |
| Wheels Fleet Lease Funding, LLC, Series 24-2A, Class A1, 4.87% 6/21/2039 <sup>(f)(i)</sup>  | 713 | 720 |
| Wheels Fleet Lease Funding, LLC, Series 2024-3A, Class A1, 4.80% 9/19/2039 <sup>(f)(i)</sup>  | 208 | 210 |
|  |  | 5103 |
| **Credit card 0.04%** |  |  |
| Avant Credit Card Master Trust, Series 2024-2A, Class A, 5.38% 5/15/2029 <sup>(f)(i)</sup>  | 400 | 401 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.06% 9/15/2031 <sup>(f)(i)</sup>  | 246 | 247 |
|  |  | 648 |
| **Student loan 0.03%** |  |  |
| Navient Student Loan Trust, Series 2021-A, Class A, 0.84% 5/15/2069 <sup>(f)(i)</sup>  | 25 | 22 |
| Navient Student Loan Trust, Series 2021-CA, Class A, 1.06% 10/15/2069 <sup>(f)(i)</sup>  | 45 | 41 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062 <sup>(f)(i)</sup>  | 102 | 96 |
| Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 4/20/2062 <sup>(f)(i)</sup>  | 203 | 193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nelnet Student Loan Trust, Series 2021-CA, Class AFL, (1-month USD CME Term SOFR + 0.854%) 4.99% <br> 4/20/2062 <sup>(f)(g)(i)</sup>  | 106 | 106 |
| SMB Private Education Loan Trust, Series 2021-A, Class APT2, 1.07% 1/15/2053 <sup>(f)(i)</sup>  | 41 | 37 |
|  |  | 495 |
| **Commercial mortgage backed securities 0.01%** |  |  |
| American Homes 4 Rent, Series 2015-SFR2, Class A, 3.732% 10/17/2052 <sup>(f)(i)</sup>  | 82 | 81 |
| American Homes 4 Rent, Series 2015-SFR2, Class B, 4.295% 10/17/2052 <sup>(f)(i)</sup>  | 100 | 100 |
|  |  | 181 |
| **Total asset-backed obligations** |  | 13359 |
| **Bonds & notes of governments & government agencies outside the U.S. 0.05%**<br> **Mexico 0.03%**<br>|  |  |
| United Mexican States 3.25% 4/16/2030  | 200 | 189 |
| United Mexican States 7.375% 5/13/2055  | 245 | 269 |
|  |  | 458 |
| **Saudi Arabia 0.01%** |  |  |
| Saudi Arabia (Kingdom of) 3.625% 3/4/2028  | 200 | 198 |
| **Peru 0.01%** |  |  |
| Peru (Republic of) 2.783% 1/23/2031  | 190 | 176 |
| **Total bonds & notes of governments & government agencies outside the U.S.** |  | 832 |
| **Municipals 0.02%**<br> **Illinois 0.01%**<br>|  |  |
| GO Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033  | 196 | 200 |

---

American Funds Insurance Series — Page 100 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Municipals (continued)**<br> **Massachusetts 0.01%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-A, 6.352% 7/1/2049  | USD135 | $140 |
| **Total municipals** |  | 340 |
| **Total bonds, notes & other debt instruments** (cost: $233,505,000) |  | 233175 |
| Investment funds 2.04% |  |  |
| Capital Group Central Corporate Bond Fund <sup>(m)</sup> <br>| 3865422 | 33011 |
| **Total investment funds** (cost: $35,603,000) |  | 33011 |
| Short-term securities 7.90%<br> **Money market investments 7.31%**<br>| Shares |  |
| Capital Group Central Cash Fund 4.17% <sup>(m)(n)</sup>  | 1180001 | 118000 |
| **Money market investments purchased with collateral from securities on loan 0.59%** |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(n)(o)</sup>  | 9544140 | 9544 |
| **Total short-term securities** (cost: $127,527,000) |  | 127544 |
| **Total investment securities 101.99%** (cost: $1,241,775,000) |  | 1647454 |
| **Other assets less liabilities (1.99)%** |  | (32209)<br>|
| **Net assets 100.00%** |  | $1615245 |

---

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&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;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 351 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD73,148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(19)<br>|
| 5 Year U.S. Treasury Note Futures | Long | 213 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| 10 Year U.S. Treasury Note Futures | Short | 10 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1125)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 41 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4718)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (50)<br>|
| 20 Year U.S. Treasury Note Futures | Long | 26 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 77 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $284 |

---

Forward currency contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <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;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| BRL | 1600 | USD | 291 | JPMorgan Chase | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $9 |

---

American Funds Insurance Series — Page 101 of 319

------

**unaudited**

Swap contracts

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| 3.16% | At maturity | U.S. Urban CPI | At maturity | &nbsp;&nbsp;&nbsp;&nbsp; 6/23/2026 | USD350 | &nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(c)</sup><br>|
| U.S. Urban CPI | At maturity | 3.17% | At maturity | &nbsp;&nbsp;&nbsp;&nbsp; 6/23/2026 | 338 | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(c)</sup><br>|
| SOFR | Annual | 3.055% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/6/2031 | 6700 | &nbsp;&nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 118 |
| SOFR | Annual | 4.1275% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 7/27/2050 | 310 | &nbsp;&nbsp;&nbsp;&nbsp; (8)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (8)<br>|
| SOFR | Annual | 2.91% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 9/18/2050 | 592 | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 100 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $210 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $210 |

---

**Credit default swaps** 

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate received<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <sup>(p)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <sup>(q)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.45 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD<br> 4,614<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1)<br>|

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Investment funds 2.04%** | **Investment funds 2.04%** | **Investment funds 2.04%** | **Investment funds 2.04%** | **Investment funds 2.04%** | **Investment funds 2.04%** | **Investment funds 2.04%** | **Investment funds 2.04%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Corporate Bond Fund  | $30920 | &nbsp;&nbsp; $1140 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $951 | &nbsp;&nbsp; $33011 | &nbsp;&nbsp; $1140 |
| **Short-term securities 7.31%** | **Short-term securities 7.31%** | **Short-term securities 7.31%** | **Short-term securities 7.31%** | **Short-term securities 7.31%** | **Short-term securities 7.31%** | **Short-term securities 7.31%** | **Short-term securities 7.31%** |
| **Money market investments 7.31%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(n)</sup> <br>| 60575 | &nbsp;&nbsp; 281375 | &nbsp;&nbsp; 223955 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; (4)<br>| &nbsp;&nbsp; 118000 | &nbsp;&nbsp; 3143 |
| **Total 9.35%** |  |  |  | &nbsp;&nbsp; $9 | &nbsp;&nbsp; $947 | &nbsp;&nbsp; $151011 | &nbsp;&nbsp; $4283 |

---

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

American Funds Insurance Series — Page 102 of 319

------

**unaudited**

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

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

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

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

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

<sup>(e)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $1,530,000, which represented 0.09% of the net assets of the fund. 

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

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

<sup>(i)</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 $38,778,000, which represented 2.40% of the net assets of the fund. 

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

<sup>(k)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $231,000, which represented 0.01% of the net assets of the fund. 

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

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

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

<sup>(p)</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>(q)</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively. 

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| Assn. = Association |
| Auth. = Authority |
| BRL = Brazilian reais |
| CAD = Canadian dollars |
| CME = CME Group |
| CPI = Consumer Price Index |
| DAC = Designated Activity Company |
| Fncg. = Financing |
| GBP = British pounds |

---

---

| |
|:---|
| GO = General Obligation |
| ICE = Intercontinental Exchange, Inc. |
| MXN = Mexican pesos |
| PIK = Payment In Kind |
| REIT = Real Estate Investment Trust |
| Rev. = Revenue |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

American Funds Insurance Series — Page 103 of 319

------

**Asset Allocation Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 64.36%<br> **Information technology 17.58%**<br>| Shares | Value<br> (000)<br>|
| Broadcom, Inc.  | 4204688 | $1387169 |
| Microsoft Corp.  | 2068123 | 1071184 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 2473101 | 690712 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 2384000 | 102078 |
| NVIDIA Corp.  | 2594429 | 484068 |
| Apple, Inc.  | 1238855 | 315450 |
| Intel Corp. <sup>(a)</sup>  | 6085959 | 204184 |
| Salesforce, Inc.  | 431402 | 102242 |
| KLA Corp.  | 87860 | 94766 |
| Micron Technology, Inc.  | 559371 | 93594 |
| ASML Holding NV (ADR)  | 93894 | 90898 |
| Strategy, Inc., Class A <sup>(a)</sup>  | 252761 | 81442 |
| International Business Machines Corp.  | 250000 | 70540 |
| Oracle Corp.  | 162350 | 45659 |
| Synopsys, Inc. <sup>(a)</sup>  | 90490 | 44647 |
| Diebold Nixdorf, Inc. <sup>(a)</sup>  | 532940 | 30393 |
| Adobe, Inc. <sup>(a)</sup>  | 62600 | 22082 |
| Applied Materials, Inc.  | 99783 | 20430 |
|  |  | 4951538 |
| **Financials 11.29%** |  |  |
| Arthur J. Gallagher & Co.  | 1010070 | 312859 |
| Apollo Asset Management, Inc.  | 2036590 | 271416 |
| Aon PLC, Class A  | 662746 | 236322 |
| Mastercard, Inc., Class A  | 354124 | 201429 |
| Synchrony Financial  | 2626481 | 186612 |
| Visa, Inc., Class A  | 509070 | 173786 |
| Bank of America Corp.  | 3237601 | 167028 |
| Capital One Financial Corp.  | 744094 | 158180 |
| Blue Owl Capital, Inc., Class A  | 8930535 | 151194 |
| Fiserv, Inc. <sup>(a)</sup>  | 1069987 | 137953 |
| Ares Management Corp., Class A  | 845012 | 135109 |
| Wells Fargo & Co.  | 1360603 | 114046 |
| American Express Co.  | 337999 | 112270 |
| BlackRock, Inc.  | 88049 | 102654 |
| JPMorgan Chase & Co.  | 303120 | 95613 |
| Brown & Brown, Inc.  | 964468 | 90457 |
| Citigroup, Inc.  | 875000 | 88813 |
| Brookfield Corp., Class A  | 1203484 | 82535 |
| Chubb, Ltd.  | 273887 | 77305 |
| Progressive Corp.  | 280641 | 69304 |
| AXA SA  | 1445264 | 68958 |
| Intercontinental Exchange, Inc.  | 374162 | 63039 |
| Blackstone, Inc.  | 320000 | 54672 |
| Goldman Sachs Group, Inc.  | 26441 | 21056 |

---

American Funds Insurance Series — Page 104 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials (continued)**<br>| Shares | Value<br> (000)<br>|
| Figure Technology Solutions, Inc. <sup>(a)(b)</sup>  | 152555 | $5548 |
| Sberbank of Russia PJSC <sup>(c)</sup>  | 8880000 | — <br><sup>(d)</sup><br>|
|  |  | 3178158 |
| **Industrials 8.91%** |  |  |
| ATI, Inc. <sup>(a)</sup>  | 4170260 | 339209 |
| Boeing Co. (The) <sup>(a)</sup>  | 1355000 | 292450 |
| General Aerospace Co.  | 801028 | 240965 |
| L3Harris Technologies, Inc.  | 697335 | 212973 |
| TransDigm Group, Inc.  | 160869 | 212028 |
| Parker-Hannifin Corp.  | 183536 | 139148 |
| Deere & Co.  | 294675 | 134743 |
| Caterpillar, Inc.  | 265000 | 126445 |
| United Rentals, Inc.  | 125193 | 119517 |
| Safran SA  | 312100 | 109963 |
| Ingersoll-Rand, Inc.  | 1214859 | 100372 |
| GE Vernova, Inc.  | 150939 | 92812 |
| Northrop Grumman Corp.  | 123591 | 75306 |
| Quanta Services, Inc.  | 152260 | 63100 |
| Trane Technologies PLC  | 137366 | 57963 |
| Airbus SE, non-registered shares  | 248476 | 57586 |
| Union Pacific Corp.  | 170837 | 40381 |
| Copart, Inc. <sup>(a)</sup>  | 835833 | 37587 |
| FTAI Aviation, Ltd.  | 215289 | 35923 |
| Carrier Global Corp.  | 335538 | 20032 |
| Honeywell International, Inc.  | 8168 | 1719 |
|  |  | 2510222 |
| **Consumer discretionary 6.35%** |  |  |
| Booking Holdings, Inc.  | 57886 | 312542 |
| Royal Caribbean Cruises, Ltd.  | 748815 | 242302 |
| Amazon.com, Inc. <sup>(a)</sup>  | 1038782 | 228085 |
| Starbucks Corp.  | 1775212 | 150183 |
| Home Depot, Inc.  | 343239 | 139077 |
| D.R. Horton, Inc.  | 714784 | 121135 |
| NIKE, Inc., Class B  | 1485288 | 103569 |
| Darden Restaurants, Inc.  | 424583 | 80824 |
| Carnival Corp. <sup>(a)</sup>  | 2758206 | 79740 |
| Compagnie Financiere Richemont SA, Class A  | 346887 | 66061 |
| Texas Roadhouse, Inc.  | 385658 | 64077 |
| AutoZone, Inc. <sup>(a)</sup>  | 8700 | 37325 |
| Tesla, Inc. <sup>(a)</sup>  | 79806 | 35491 |
| Toll Brothers, Inc.  | 246730 | 34083 |
| Hilton Worldwide Holdings, Inc.  | 128285 | 33282 |
| Restaurant Brands International, Inc.  | 425550 | 27295 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 479200 | 18780 |
| YUM! Brands, Inc.  | 91381 | 13890 |
| Aimbridge Topco, LLC <sup>(a)(c)</sup>  | 10722 | 830 |
|  |  | 1788571 |
| **Health care 5.72%** |  |  |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 720148 | 282039 |
| Gilead Sciences, Inc.  | 2216855 | 246071 |
| UnitedHealth Group, Inc.  | 582720 | 201213 |
| Eli Lilly and Co.  | 186995 | 142677 |

---

American Funds Insurance Series — Page 105 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Health care (continued)**<br>| Shares | Value<br> (000)<br>|
| Amgen, Inc.  | 426538 | $120369 |
| CVS Health Corp.  | 1451353 | 109418 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 205917 | 93898 |
| Thermo Fisher Scientific, Inc.  | 166440 | 80727 |
| Illumina, Inc. <sup>(a)</sup>  | 699527 | 66434 |
| Abbott Laboratories  | 487227 | 65259 |
| Cooper Cos., Inc. <sup>(a)</sup>  | 818757 | 56134 |
| AbbVie, Inc.  | 176323 | 40826 |
| Boston Scientific Corp. <sup>(a)</sup>  | 300752 | 29362 |
| Exact Sciences Corp. <sup>(a)</sup>  | 497463 | 27216 |
| Centene Corp. <sup>(a)</sup>  | 675000 | 24084 |
| Rotech Healthcare, Inc. <sup>(a)(c)(e)</sup>  | 184138 | 13289 |
| Molina Healthcare, Inc. <sup>(a)</sup>  | 36950 | 7071 |
| Mallinckrodt PLC <sup>(a)</sup>  | 36079 | 3770 |
| Carbon Health Technologies, Inc., Class A <sup>(a)(c)</sup>  | 4955500 | 50 |
| Endo, LP, nonvoting shares <sup>(a)(c)</sup>  | 9648000 | — <br><sup>(d)</sup><br>|
|  |  | 1609907 |
| **Materials 5.21%** |  |  |
| Franco-Nevada Corp. (CAD denominated)  | 1850000 | 411780 |
| Wheaton Precious Metals Corp.  | 2570811 | 287520 |
| Royal Gold, Inc.  | 1405000 | 281815 |
| Lundin Mining Corp.  | 16017925 | 238940 |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 5805000 | 131308 |
| Linde PLC  | 145263 | 69000 |
| Corteva, Inc.  | 500590 | 33855 |
| Air Products and Chemicals, Inc.  | 45664 | 12453 |
| Venator Materials PLC <sup>(a)(c)</sup>  | 4096 | — <br><sup>(d)</sup><br>|
|  |  | 1466671 |
| **Communication services 3.98%** |  |  |
| Alphabet, Inc., Class C  | 1206415 | 293822 |
| Alphabet, Inc., Class A  | 968369 | 235411 |
| Meta Platforms, Inc., Class A  | 553906 | 406778 |
| Comcast Corp., Class A  | 5365539 | 168585 |
| Take-Two Interactive Software, Inc. <sup>(a)</sup>  | 44085 | 11390 |
| Charter Communications, Inc., Class A <sup>(a)</sup>  | 21040 | 5788 |
|  |  | 1121774 |
| **Consumer staples 3.35%** |  |  |
| Philip Morris International, Inc.  | 3633239 | 589312 |
| Keurig Dr Pepper, Inc.  | 3104041 | 79184 |
| Constellation Brands, Inc., Class A  | 499955 | 67329 |
| Costco Wholesale Corp.  | 69889 | 64691 |
| Nestle SA  | 617055 | 56640 |
| US Foods Holding Corp. <sup>(a)</sup>  | 514932 | 39454 |
| Estee Lauder Cos., Inc. (The), Class A  | 414641 | 36538 |
| Procter & Gamble Co.  | 75358 | 11579 |
|  |  | 944727 |
| **Energy 0.91%** |  |  |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 3560603 | 113851 |
| ConocoPhillips  | 824000 | 77942 |
| EOG Resources, Inc.  | 222924 | 24994 |
| Halliburton Co.  | 836235 | 20571 |

---

American Funds Insurance Series — Page 106 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Energy (continued)**<br>| Shares | Value<br> (000)<br>|
| Schlumberger NV  | 286500 | $9847 |
| Exxon Mobil Corp.  | 58185 | 6560 |
| Constellation Oil Services Holding SA (NDR) <sup>(a)</sup>  | 86942 | 954 |
| Altera Infrastructure, LP <sup>(c)</sup>  | 16130 | 644 |
| New Fortress Energy, Inc., Class A <sup>(a)</sup>  | 150315 | 332 |
| Expand Energy Corp.  | 277 | 30 |
|  |  | 255725 |
| **Utilities 0.84%** |  |  |
| DTE Energy Co.  | 848144 | 119953 |
| Southern Co. (The)  | 1075029 | 101881 |
| FirstEnergy Corp.  | 323684 | 14831 |
|  |  | 236665 |
| **Real estate 0.22%** |  |  |
| American Tower Corp. REIT  | 136942 | 26337 |
| Simon Property Group, Inc. REIT  | 122922 | 23069 |
| Crown Castle, Inc. REIT  | 134329 | 12961 |
|  |  | 62367 |
| **Total common stocks** (cost: $10,174,285,000) |  | 18126325 |
| Preferred securities 0.00%<br> **Industrials 0.00%**<br>|  |  |
| ACR III LSC Holdings, LLC, Series B, preferred shares <sup>(a)(c)(f)</sup>  | 450 | 736 |
| **Total preferred securities** (cost: $466,000) |  | 736 |
| Rights & warrants 0.00%<br> **Energy 0.00%**<br>|  |  |
| Expand Energy Corporation, Class C, warrants, expire 2/9/2026 <sup>(a)</sup>  | 524 | 51 |
| Constellation Oil Services Holding SA, Class D, warrants, expire 6/10/2071 <sup>(a)(c)</sup>  | 4 | — <br><sup>(d)</sup><br>|
| **Total rights & warrants** (cost: $312,000) |  | 51 |
| Convertible stocks 0.13%<br> **Industrials 0.07%**<br>|  |  |
| Boeing Co., Series A, convertible preferred depositary shares, 6.00% 10/15/2027  | 262145 | 18237 |
| **Information technology 0.06%** |  |  |
| Strategy, Inc. 8.00% perpetual convertible preferred shares  | 189521 | 17379 |
| **Total convertible stocks** (cost: $30,711,000) |  | 35616 |
| Convertible bonds & notes 0.06%<br> **Communication services 0.02%**<br>| Principal amount<br> (000)<br>|  |
| EchoStar Corp., convertible notes, 3.875% PIK 11/30/2030 <sup>(g)</sup>  | USD1,290 | 3177 |
| Spotify USA, Inc., convertible notes, 0% 3/15/2026  | 1800 | 2464 |
|  |  | 5641 |

---

American Funds Insurance Series — Page 107 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Convertible bonds & notes (continued)<br> **Real estate 0.02%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Ventas Realty, LP 3.75% 6/1/2026  | USD1,873 | $2424 |
| Welltower OP, LLC 2.75% 5/15/2028 <sup>(f)</sup>  | 1422 | 2664 |
|  |  | 5088 |
| **Utilities 0.01%** |  |  |
| CenterPoint Energy, Inc., convertible notes, 3.00% 8/1/2028 <sup>(f)</sup>  | 2785 | 2831 |
| **Health care 0.01%** |  |  |
| Halozyme Therapeutics, Inc. 1.00% 8/15/2028  | 1818 | 2559 |
| **Industrials 0.00%** |  |  |
| Axon Enterprise, Inc. 0.50% 12/15/2027  | 692 | 2172 |
| **Total convertible bonds & notes** (cost: $17,014,000) |  | 18291 |
| Bonds, notes & other debt instruments 28.55%<br> **Mortgage-backed obligations 10.93%**<br> **Federal agency mortgage-backed obligations 9.83%**<br>|  |  |
| Fannie Mae Pool #AH0829 4.00% 1/1/2026 <sup>(h)</sup>  | —<br> <sup>(d)</sup><br>| — <br><sup>(d)</sup><br>|
| Fannie Mae Pool #AH6431 4.00% 2/1/2026 <sup>(h)</sup>  | 13 | 13 |
| Fannie Mae Pool #AH5618 4.00% 2/1/2026 <sup>(h)</sup>  | —<br> <sup>(d)</sup><br>| — <br><sup>(d)</sup><br>|
| Fannie Mae Pool #890329 4.00% 4/1/2026 <sup>(h)</sup>  | 1 | 1 |
| Fannie Mae Pool #MA1109 4.00% 5/1/2027 <sup>(h)</sup>  | —<br> <sup>(d)</sup><br>| — <br><sup>(d)</sup><br>|
| Fannie Mae Pool #MA3653 3.00% 3/1/2029 <sup>(h)</sup>  | 6 | 6 |
| Fannie Mae Pool #AL8347 4.00% 3/1/2029 <sup>(h)</sup>  | 4 | 4 |
| Fannie Mae Pool #254767 5.50% 6/1/2033 <sup>(h)</sup>  | 127 | 130 |
| Fannie Mae Pool #555956 5.50% 12/1/2033 <sup>(h)</sup>  | 81 | 83 |
| Fannie Mae Pool #BN1085 4.00% 1/1/2034 <sup>(h)</sup>  | 217 | 217 |
| Fannie Mae Pool #FM2499 2.50% 2/1/2035 <sup>(h)</sup>  | 230 | 219 |
| Fannie Mae Pool #929185 5.50% 1/1/2036 <sup>(h)</sup>  | 247 | 257 |
| Fannie Mae Pool #893641 6.00% 9/1/2036 <sup>(h)</sup>  | 486 | 512 |
| Fannie Mae Pool #893688 6.00% 10/1/2036 <sup>(h)</sup>  | 123 | 130 |
| Fannie Mae Pool #AS8554 3.00% 12/1/2036 <sup>(h)</sup>  | 3896 | 3692 |
| Fannie Mae Pool #907239 6.00% 12/1/2036 <sup>(h)</sup>  | 11 | 11 |
| Fannie Mae Pool #928031 6.00% 1/1/2037 <sup>(h)</sup>  | 40 | 42 |
| Fannie Mae Pool #888292 6.00% 3/1/2037 <sup>(h)</sup>  | 352 | 371 |
| Fannie Mae Pool #AD0249 5.50% 4/1/2037 <sup>(h)</sup>  | 66 | 67 |
| Fannie Mae Pool #CB3701 2.50% 5/1/2037 <sup>(h)</sup>  | 118 | 111 |
| Fannie Mae Pool #190379 5.50% 5/1/2037 <sup>(h)</sup>  | 38 | 39 |
| Fannie Mae Pool #924952 6.00% 8/1/2037 <sup>(h)</sup>  | 574 | 606 |
| Fannie Mae Pool #888637 6.00% 9/1/2037 <sup>(h)</sup>  | 7 | 7 |
| Fannie Mae Pool #995674 6.00% 5/1/2038 <sup>(h)</sup>  | 217 | 229 |
| Fannie Mae Pool #AD0119 6.00% 7/1/2038 <sup>(h)</sup>  | 708 | 748 |
| Fannie Mae Pool #995224 6.00% 9/1/2038 <sup>(h)</sup>  | 6 | 6 |
| Fannie Mae Pool #AE0021 6.00% 10/1/2038 <sup>(h)</sup>  | 224 | 236 |
| Fannie Mae Pool #AL7164 6.00% 10/1/2038 <sup>(h)</sup>  | 138 | 144 |
| Fannie Mae Pool #889983 6.00% 10/1/2038 <sup>(h)</sup>  | 12 | 13 |
| Fannie Mae Pool #AD0095 6.00% 11/1/2038 <sup>(h)</sup>  | 484 | 510 |
| Fannie Mae Pool #AB0538 6.00% 11/1/2038 <sup>(h)</sup>  | 67 | 70 |
| Fannie Mae Pool #995391 6.00% 11/1/2038 <sup>(h)</sup>  | 10 | 11 |
| Fannie Mae Pool #AD0833 6.00% 1/1/2039 <sup>(h)</sup>  | —<br> <sup>(d)</sup><br>| — <br><sup>(d)</sup><br>|
| Fannie Mae Pool #AL0309 6.00% 1/1/2040 <sup>(h)</sup>  | 45 | 48 |

---

American Funds Insurance Series — Page 108 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #AL0013 6.00% 4/1/2040 <sup>(h)</sup>  | USD133 | $140 |
| Fannie Mae Pool #AL7228 6.00% 4/1/2041 <sup>(h)</sup>  | 160 | 168 |
| Fannie Mae Pool #AB4536 6.00% 6/1/2041 <sup>(h)</sup>  | 330 | 347 |
| Fannie Mae Pool #MA4387 2.00% 7/1/2041 <sup>(h)</sup>  | 5391 | 4690 |
| Fannie Mae Pool #FS0305 1.50% 1/1/2042 <sup>(h)</sup>  | 16325 | 13774 |
| Fannie Mae Pool #AP2131 3.50% 8/1/2042 <sup>(h)</sup>  | 2403 | 2277 |
| Fannie Mae Pool #AU8813 4.00% 11/1/2043 <sup>(h)</sup>  | 1304 | 1270 |
| Fannie Mae Pool #AU9350 4.00% 11/1/2043 <sup>(h)</sup>  | 734 | 714 |
| Fannie Mae Pool #AU9348 4.00% 11/1/2043 <sup>(h)</sup>  | 720 | 701 |
| Fannie Mae Pool #AL8773 3.50% 2/1/2045 <sup>(h)</sup>  | 4164 | 3932 |
| Fannie Mae Pool #FM9416 3.50% 7/1/2045 <sup>(h)</sup>  | 6780 | 6377 |
| Fannie Mae Pool #AL8354 3.50% 10/1/2045 <sup>(h)</sup>  | 965 | 908 |
| Fannie Mae Pool #AL8522 3.50% 5/1/2046 <sup>(h)</sup>  | 2140 | 2013 |
| Fannie Mae Pool #BC7611 4.00% 5/1/2046 <sup>(h)</sup>  | 80 | 77 |
| Fannie Mae Pool #AS8310 3.00% 11/1/2046 <sup>(h)</sup>  | 281 | 257 |
| Fannie Mae Pool #BD9307 4.00% 11/1/2046 <sup>(h)</sup>  | 1098 | 1056 |
| Fannie Mae Pool #BD9699 3.50% 12/1/2046 <sup>(h)</sup>  | 1216 | 1135 |
| Fannie Mae Pool #BE1290 3.50% 2/1/2047 <sup>(h)</sup>  | 1804 | 1686 |
| Fannie Mae Pool #BM1179 3.00% 4/1/2047 <sup>(h)</sup>  | 366 | 334 |
| Fannie Mae Pool #256975 7.00% 10/1/2047 <sup>(h)</sup>  | 2 | 2 |
| Fannie Mae Pool #CA0770 3.50% 11/1/2047 <sup>(h)</sup>  | 1226 | 1139 |
| Fannie Mae Pool #MA3211 4.00% 12/1/2047 <sup>(h)</sup>  | 1834 | 1768 |
| Fannie Mae Pool #MA3277 4.00% 2/1/2048 <sup>(h)</sup>  | 7 | 7 |
| Fannie Mae Pool #BK5255 4.00% 5/1/2048 <sup>(h)</sup>  | 8 | 7 |
| Fannie Mae Pool #FM3278 3.50% 11/1/2048 <sup>(h)</sup>  | 13027 | 12138 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049 <sup>(h)</sup>  | 1750 | 1646 |
| Fannie Mae Pool #CA4756 3.00% 12/1/2049 <sup>(h)</sup>  | 1362 | 1224 |
| Fannie Mae Pool #BN7443 2.50% 3/1/2050 <sup>(h)</sup>  | 31 | 26 |
| Fannie Mae Pool #CA5968 2.50% 6/1/2050 <sup>(h)</sup>  | 4477 | 3847 |
| Fannie Mae Pool #BP5576 2.50% 6/1/2050 <sup>(h)</sup>  | 397 | 335 |
| Fannie Mae Pool #CA6593 2.50% 8/1/2050 <sup>(h)</sup>  | 9976 | 8579 |
| Fannie Mae Pool #CA6987 2.00% 9/1/2050 <sup>(h)</sup>  | 524 | 424 |
| Fannie Mae Pool #CA7052 3.00% 9/1/2050 <sup>(h)</sup>  | 297 | 264 |
| Fannie Mae Pool #CA7529 2.50% 10/1/2050 <sup>(h)</sup>  | 1143 | 964 |
| Fannie Mae Pool #BQ7589 2.00% 11/1/2050 <sup>(h)</sup>  | 2311 | 1866 |
| Fannie Mae Pool #CA7737 2.50% 11/1/2050 <sup>(h)</sup>  | 8099 | 6924 |
| Fannie Mae Pool #CA7599 2.50% 11/1/2050 <sup>(h)</sup>  | 1275 | 1098 |
| Fannie Mae Pool #CA7743 2.50% 11/1/2050 <sup>(h)</sup>  | 702 | 593 |
| Fannie Mae Pool #FM4897 3.00% 11/1/2050 <sup>(h)</sup>  | 11185 | 10109 |
| Fannie Mae Pool #BQ7646 2.00% 12/1/2050 <sup>(h)</sup>  | 1941 | 1567 |
| Fannie Mae Pool #BQ8497 2.00% 12/1/2050 <sup>(h)</sup>  | 1596 | 1291 |
| Fannie Mae Pool #FS9792 4.50% 12/1/2050 <sup>(h)</sup>  | 966 | 955 |
| Fannie Mae Pool #MA4237 2.00% 1/1/2051 <sup>(h)</sup>  | 5054 | 4116 |
| Fannie Mae Pool #BR1283 2.00% 1/1/2051 <sup>(h)</sup>  | 198 | 160 |
| Fannie Mae Pool #CA8513 2.50% 1/1/2051 <sup>(h)</sup>  | 1107 | 934 |
| Fannie Mae Pool #FS5929 2.50% 1/1/2051 <sup>(h)</sup>  | 768 | 649 |
| Fannie Mae Pool #FM5944 2.50% 1/1/2051 <sup>(h)</sup>  | 75 | 63 |
| Fannie Mae Pool #FS3550 2.50% 1/1/2051 <sup>(h)</sup>  | 29 | 24 |
| Fannie Mae Pool #BR3255 2.00% 2/1/2051 <sup>(h)</sup>  | 5981 | 4840 |
| Fannie Mae Pool #BR2689 2.00% 2/1/2051 <sup>(h)</sup>  | 1948 | 1572 |
| Fannie Mae Pool #FM5963 2.00% 2/1/2051 <sup>(h)</sup>  | 1823 | 1475 |
| Fannie Mae Pool #FM6332 2.00% 2/1/2051 <sup>(h)</sup>  | 331 | 267 |
| Fannie Mae Pool #CA8828 2.50% 2/1/2051 <sup>(h)</sup>  | 3124 | 2679 |
| Fannie Mae Pool #CA8962 2.50% 2/1/2051 <sup>(h)</sup>  | 60 | 51 |

---

American Funds Insurance Series — Page 109 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #CB0290 2.00% 4/1/2051 <sup>(h)</sup>  | USD4,070 | $3310 |
| Fannie Mae Pool #FS1086 2.00% 4/1/2051 <sup>(h)</sup>  | 1733 | 1399 |
| Fannie Mae Pool #CA9494 2.50% 4/1/2051 <sup>(h)</sup>  | 95 | 81 |
| Fannie Mae Pool #FM6810 3.00% 4/1/2051 <sup>(h)</sup>  | 5744 | 5053 |
| Fannie Mae Pool #CB0191 3.00% 4/1/2051 <sup>(h)</sup>  | 4466 | 3961 |
| Fannie Mae Pool #CB0193 3.00% 4/1/2051 <sup>(h)</sup>  | 543 | 483 |
| Fannie Mae Pool #FM7751 2.00% 5/1/2051 <sup>(h)</sup>  | 1977 | 1595 |
| Fannie Mae Pool #FM7411 2.00% 5/1/2051 <sup>(h)</sup>  | 1970 | 1590 |
| Fannie Mae Pool #BR0999 2.50% 5/1/2051 <sup>(h)</sup>  | 999 | 843 |
| Fannie Mae Pool #FM7222 2.50% 5/1/2051 <sup>(h)</sup>  | 767 | 647 |
| Fannie Mae Pool #FM7408 2.50% 5/1/2051 <sup>(h)</sup>  | 140 | 118 |
| Fannie Mae Pool #FM8114 2.00% 6/1/2051 <sup>(h)</sup>  | 2107 | 1700 |
| Fannie Mae Pool #CB0910 2.50% 6/1/2051 <sup>(h)</sup>  | 34102 | 28767 |
| Fannie Mae Pool #FM7740 2.50% 6/1/2051 <sup>(h)</sup>  | 9122 | 7695 |
| Fannie Mae Pool #FM7909 3.00% 6/1/2051 <sup>(h)</sup>  | 407 | 361 |
| Fannie Mae Pool #MA4378 2.00% 7/1/2051 <sup>(h)</sup>  | 151 | 123 |
| Fannie Mae Pool #FM9530 2.50% 7/1/2051 <sup>(h)</sup>  | 2030 | 1712 |
| Fannie Mae Pool #FM8434 2.00% 8/1/2051 <sup>(h)</sup>  | 5914 | 4773 |
| Fannie Mae Pool #CB1373 2.00% 8/1/2051 <sup>(h)</sup>  | 1475 | 1190 |
| Fannie Mae Pool #FM8453 3.00% 8/1/2051 <sup>(h)</sup>  | 3812 | 3432 |
| Fannie Mae Pool #CB1304 3.00% 8/1/2051 <sup>(h)</sup>  | 69 | 61 |
| Fannie Mae Pool #FM8745 2.50% 9/1/2051 <sup>(h)</sup>  | 4035 | 3406 |
| Fannie Mae Pool #FS1630 2.50% 9/1/2051 <sup>(h)</sup>  | 1316 | 1110 |
| Fannie Mae Pool #BT7263 2.50% 9/1/2051 <sup>(h)</sup>  | 645 | 545 |
| Fannie Mae Pool #BU0341 2.50% 9/1/2051 <sup>(h)</sup>  | 199 | 167 |
| Fannie Mae Pool #FS5125 2.50% 10/1/2051 <sup>(h)</sup>  | 825 | 696 |
| Fannie Mae Pool #FS3298 2.50% 10/1/2051 <sup>(h)</sup>  | 523 | 442 |
| Fannie Mae Pool #BU2530 2.50% 10/1/2051 <sup>(h)</sup>  | 133 | 112 |
| Fannie Mae Pool #FM9335 2.50% 10/1/2051 <sup>(h)</sup>  | 87 | 74 |
| Fannie Mae Pool #MA4465 2.00% 11/1/2051 <sup>(h)</sup>  | 7569 | 6142 |
| Fannie Mae Pool #FM9646 2.00% 11/1/2051 <sup>(h)</sup>  | 7221 | 5827 |
| Fannie Mae Pool #CB2092 2.50% 11/1/2051 <sup>(h)</sup>  | 2973 | 2508 |
| Fannie Mae Pool #CB2078 3.00% 11/1/2051 <sup>(h)</sup>  | 7851 | 6961 |
| Fannie Mae Pool #BU7817 2.00% 12/1/2051 <sup>(h)</sup>  | 3629 | 2929 |
| Fannie Mae Pool #MA4492 2.00% 12/1/2051 <sup>(h)</sup>  | 2391 | 1940 |
| Fannie Mae Pool #FM9783 2.00% 12/1/2051 <sup>(h)</sup>  | 799 | 645 |
| Fannie Mae Pool #FS2824 2.50% 12/1/2051 <sup>(h)</sup>  | 41920 | 35362 |
| Fannie Mae Pool #CB2286 2.50% 12/1/2051 <sup>(h)</sup>  | 13967 | 11962 |
| Fannie Mae Pool #CB2375 2.50% 12/1/2051 <sup>(h)</sup>  | 6562 | 5623 |
| Fannie Mae Pool #CB2319 2.50% 12/1/2051 <sup>(h)</sup>  | 158 | 135 |
| Fannie Mae Pool #BT9510 2.50% 12/1/2051 <sup>(h)</sup>  | 75 | 65 |
| Fannie Mae Pool #BT9483 2.50% 12/1/2051 <sup>(h)</sup>  | 75 | 65 |
| Fannie Mae Pool #CB2372 2.50% 12/1/2051 <sup>(h)</sup>  | 75 | 64 |
| Fannie Mae Pool #BQ7006 2.00% 1/1/2052 <sup>(h)</sup>  | 2904 | 2347 |
| Fannie Mae Pool #BQ7041 2.00% 1/1/2052 <sup>(h)</sup>  | 1017 | 821 |
| Fannie Mae Pool #MA4512 2.50% 1/1/2052 <sup>(h)</sup>  | 121 | 102 |
| Fannie Mae Pool #CB2555 2.50% 1/1/2052 <sup>(h)</sup>  | 68 | 58 |
| Fannie Mae Pool #FS3549 2.50% 1/1/2052 <sup>(h)</sup>  | 64 | 54 |
| Fannie Mae Pool #FS0182 3.00% 1/1/2052 <sup>(h)</sup>  | 9833 | 8720 |
| Fannie Mae Pool #BV3076 2.00% 2/1/2052 <sup>(h)</sup>  | 6555 | 5305 |
| Fannie Mae Pool #MA4547 2.00% 2/1/2052 <sup>(h)</sup>  | 5029 | 4066 |
| Fannie Mae Pool #BT1968 2.00% 2/1/2052 <sup>(h)</sup>  | 1812 | 1466 |
| Fannie Mae Pool #BV3083 2.00% 2/1/2052 <sup>(h)</sup>  | 985 | 797 |
| Fannie Mae Pool #FS2660 2.50% 2/1/2052 <sup>(h)</sup>  | 8161 | 6891 |

---

American Funds Insurance Series — Page 110 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #FS1080 2.50% 2/1/2052 <sup>(h)</sup>  | USD1,912 | $1613 |
| Fannie Mae Pool #BV3674 2.50% 2/1/2052 <sup>(h)</sup>  | 679 | 576 |
| Fannie Mae Pool #FS1885 2.50% 2/1/2052 <sup>(h)</sup>  | 674 | 569 |
| Fannie Mae Pool #FS6380 2.50% 2/1/2052 <sup>(h)</sup>  | 556 | 469 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052 <sup>(h)</sup>  | 52536 | 47034 |
| Fannie Mae Pool #CB2913 3.50% 2/1/2052 <sup>(h)</sup>  | 2091 | 1912 |
| Fannie Mae Pool #CB2912 3.50% 2/1/2052 <sup>(h)</sup>  | 38 | 35 |
| Fannie Mae Pool #BT2052 2.00% 3/1/2052 <sup>(h)</sup>  | 16880 | 13622 |
| Fannie Mae Pool #BV3101 2.00% 3/1/2052 <sup>(h)</sup>  | 2903 | 2349 |
| Fannie Mae Pool #CB3040 2.00% 3/1/2052 <sup>(h)</sup>  | 2596 | 2103 |
| Fannie Mae Pool #FS1742 2.00% 3/1/2052 <sup>(h)</sup>  | 2420 | 1962 |
| Fannie Mae Pool #MA4562 2.00% 3/1/2052 <sup>(h)</sup>  | 1792 | 1454 |
| Fannie Mae Pool #BV4169 2.00% 3/1/2052 <sup>(h)</sup>  | 1297 | 1049 |
| Fannie Mae Pool #BV4172 2.00% 3/1/2052 <sup>(h)</sup>  | 1279 | 1035 |
| Fannie Mae Pool #BV0162 2.00% 3/1/2052 <sup>(h)</sup>  | 114 | 92 |
| Fannie Mae Pool #FS1978 2.50% 3/1/2052 <sup>(h)</sup>  | 4326 | 3649 |
| Fannie Mae Pool #BV4173 2.50% 3/1/2052 <sup>(h)</sup>  | 798 | 677 |
| Fannie Mae Pool #CB3063 2.50% 3/1/2052 <sup>(h)</sup>  | 779 | 659 |
| Fannie Mae Pool #CB3031 2.50% 3/1/2052 <sup>(h)</sup>  | 629 | 533 |
| Fannie Mae Pool #BV4119 2.50% 3/1/2052 <sup>(h)</sup>  | 160 | 135 |
| Fannie Mae Pool #CB3744 2.50% 3/1/2052 <sup>(h)</sup>  | 24 | 20 |
| Fannie Mae Pool #FS1294 3.00% 3/1/2052 <sup>(h)</sup>  | 998 | 878 |
| Fannie Mae Pool #FS0931 3.00% 3/1/2052 <sup>(h)</sup>  | 346 | 305 |
| Fannie Mae Pool #BV3799 3.50% 3/1/2052 <sup>(h)</sup>  | 40 | 37 |
| Fannie Mae Pool #MA4577 2.00% 4/1/2052 <sup>(h)</sup>  | 5813 | 4710 |
| Fannie Mae Pool #FS1598 2.00% 4/1/2052 <sup>(h)</sup>  | 2966 | 2402 |
| Fannie Mae Pool #CB3346 2.00% 4/1/2052 <sup>(h)</sup>  | 1991 | 1606 |
| Fannie Mae Pool #BV4182 2.50% 4/1/2052 <sup>(h)</sup>  | 884 | 749 |
| Fannie Mae Pool #BV5332 2.50% 4/1/2052 <sup>(h)</sup>  | 868 | 736 |
| Fannie Mae Pool #FS1749 2.50% 4/1/2052 <sup>(h)</sup>  | 867 | 735 |
| Fannie Mae Pool #BU9507 2.50% 4/1/2052 <sup>(h)</sup>  | 158 | 134 |
| Fannie Mae Pool #BV5370 2.50% 4/1/2052 <sup>(h)</sup>  | 136 | 115 |
| Fannie Mae Pool #BV6683 3.50% 4/1/2052 <sup>(h)</sup>  | 23 | 21 |
| Fannie Mae Pool #CB3379 4.00% 4/1/2052 <sup>(h)</sup>  | 635 | 601 |
| Fannie Mae Pool #FS9189 2.00% 5/1/2052 <sup>(h)</sup>  | 9531 | 7733 |
| Fannie Mae Pool #BV9644 2.50% 5/1/2052 <sup>(h)</sup>  | 916 | 776 |
| Fannie Mae Pool #MA4598 2.50% 5/1/2052 <sup>(h)</sup>  | 851 | 721 |
| Fannie Mae Pool #BW2204 2.50% 5/1/2052 <sup>(h)</sup>  | 152 | 129 |
| Fannie Mae Pool #BW0462 2.50% 5/1/2052 <sup>(h)</sup>  | 152 | 128 |
| Fannie Mae Pool #BV8592 2.50% 5/1/2052 <sup>(h)</sup>  | 111 | 94 |
| Fannie Mae Pool #FS5033 2.50% 5/1/2052 <sup>(h)</sup>  | 41 | 35 |
| Fannie Mae Pool #BU8818 3.50% 5/1/2052 <sup>(h)</sup>  | 2844 | 2601 |
| Fannie Mae Pool #CB3597 3.50% 5/1/2052 <sup>(h)</sup>  | 45 | 41 |
| Fannie Mae Pool #FS7329 2.00% 6/1/2052 <sup>(h)</sup>  | 2372 | 1921 |
| Fannie Mae Pool #FS9860 2.00% 6/1/2052 <sup>(h)</sup>  | 1974 | 1598 |
| Fannie Mae Pool #MA4623 2.50% 6/1/2052 <sup>(h)</sup>  | 1440 | 1220 |
| Fannie Mae Pool #FS2784 3.00% 6/1/2052 <sup>(h)</sup>  | 901 | 792 |
| Fannie Mae Pool #FS6634 3.00% 6/1/2052 <sup>(h)</sup>  | 331 | 291 |
| Fannie Mae Pool #FS3546 3.50% 6/1/2052 <sup>(h)</sup>  | 38 | 35 |
| Fannie Mae Pool #MA4626 4.00% 6/1/2052 <sup>(h)</sup>  | 5111 | 4844 |
| Fannie Mae Pool #CB4021 4.00% 6/1/2052 <sup>(h)</sup>  | 1292 | 1222 |
| Fannie Mae Pool #BW2918 4.50% 6/1/2052 <sup>(h)</sup>  | 4531 | 4420 |
| Fannie Mae Pool #FS6986 2.00% 7/1/2052 <sup>(h)</sup>  | 4889 | 3957 |
| Fannie Mae Pool #FS7879 2.50% 7/1/2052 <sup>(h)</sup>  | 14435 | 12177 |

---

American Funds Insurance Series — Page 111 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #FS6631 2.50% 7/1/2052 <sup>(h)</sup>  | USD165 | $140 |
| Fannie Mae Pool #CB4315 3.00% 7/1/2052 <sup>(h)</sup>  | 100 | 88 |
| Fannie Mae Pool #BW7290 3.00% 7/1/2052 <sup>(h)</sup>  | 52 | 46 |
| Fannie Mae Pool #CB4123 4.00% 7/1/2052 <sup>(h)</sup>  | 22 | 21 |
| Fannie Mae Pool #BV7912 2.50% 8/1/2052 <sup>(h)</sup>  | 155 | 131 |
| Fannie Mae Pool #BV8015 2.50% 8/1/2052 <sup>(h)</sup>  | 93 | 79 |
| Fannie Mae Pool #BW1192 4.50% 9/1/2052 <sup>(h)</sup>  | 553 | 538 |
| Fannie Mae Pool #CB4620 5.00% 9/1/2052 <sup>(h)</sup>  | 883 | 885 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(h)</sup>  | 16244 | 13158 |
| Fannie Mae Pool #BX2841 4.00% 10/1/2052 <sup>(h)</sup>  | 15 | 14 |
| Fannie Mae Pool #CB4852 4.50% 10/1/2052 <sup>(h)</sup>  | 9309 | 9076 |
| Fannie Mae Pool #BX0097 4.50% 10/1/2052 <sup>(h)</sup>  | 836 | 814 |
| Fannie Mae Pool #MA4785 5.00% 10/1/2052 <sup>(h)</sup>  | 399 | 398 |
| Fannie Mae Pool #BX0463 4.00% 11/1/2052 <sup>(h)</sup>  | 972 | 920 |
| Fannie Mae Pool #BW1299 4.00% 11/1/2052 <sup>(h)</sup>  | 867 | 820 |
| Fannie Mae Pool #MA4805 4.50% 11/1/2052 <sup>(h)</sup>  | 9573 | 9332 |
| Fannie Mae Pool #FS5554 4.50% 11/1/2052 <sup>(h)</sup>  | 2618 | 2545 |
| Fannie Mae Pool #CB5764 2.50% 12/1/2052 <sup>(h)</sup>  | 879 | 744 |
| Fannie Mae Pool #MA4842 5.50% 12/1/2052 <sup>(h)</sup>  | 2293 | 2327 |
| Fannie Mae Pool #BW5062 4.00% 1/1/2053 <sup>(h)</sup>  | 22 | 20 |
| Fannie Mae Pool #FS5520 4.50% 1/1/2053 <sup>(h)</sup>  | 2628 | 2562 |
| Fannie Mae Pool #BX3263 4.00% 2/1/2053 <sup>(h)</sup>  | 565 | 534 |
| Fannie Mae Pool #MA4919 5.50% 2/1/2053 <sup>(h)</sup>  | 952 | 965 |
| Fannie Mae Pool #FS8509 3.50% 3/1/2053 <sup>(h)</sup>  | 289 | 264 |
| Fannie Mae Pool #BW5000 4.00% 3/1/2053 <sup>(h)</sup>  | 894 | 845 |
| Fannie Mae Pool #FS4191 5.50% 3/1/2053 <sup>(h)</sup>  | 2392 | 2432 |
| Fannie Mae Pool #BX9358 4.00% 4/1/2053 <sup>(h)</sup>  | 302 | 286 |
| Fannie Mae Pool #MA4978 5.00% 4/1/2053 <sup>(h)</sup>  | 2083 | 2076 |
| Fannie Mae Pool #MA5027 4.00% 5/1/2053 <sup>(h)</sup>  | 6741 | 6366 |
| Fannie Mae Pool #MA5009 5.00% 5/1/2053 <sup>(h)</sup>  | 10443 | 10408 |
| Fannie Mae Pool #FS4563 5.00% 5/1/2053 <sup>(h)</sup>  | 675 | 674 |
| Fannie Mae Pool #FS4840 5.50% 5/1/2053 <sup>(h)</sup>  | 931 | 943 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(h)</sup>  | 165 | 167 |
| Fannie Mae Pool #FS4736 6.50% 5/1/2053 <sup>(h)</sup>  | 228 | 236 |
| Fannie Mae Pool #MA5063 2.50% 6/1/2053 <sup>(h)</sup>  | 324 | 273 |
| Fannie Mae Pool #BW9618 3.00% 6/1/2053 <sup>(h)</sup>  | 283 | 249 |
| Fannie Mae Pool #MA5038 5.00% 6/1/2053 <sup>(h)</sup>  | 22988 | 22911 |
| Fannie Mae Pool #MA5039 5.50% 6/1/2053 <sup>(h)</sup>  | 593 | 601 |
| Fannie Mae Pool #CB6491 6.50% 6/1/2053 <sup>(h)</sup>  | 1179 | 1230 |
| Fannie Mae Pool #CB6490 6.50% 6/1/2053 <sup>(h)</sup>  | 434 | 450 |
| Fannie Mae Pool #CB6468 6.50% 6/1/2053 <sup>(h)</sup>  | 318 | 332 |
| Fannie Mae Pool #FS7823 2.00% 7/1/2053 <sup>(h)</sup>  | 11306 | 9164 |
| Fannie Mae Pool #FS9167 2.50% 7/1/2053 <sup>(h)</sup>  | 824 | 695 |
| Fannie Mae Pool #FS6632 2.50% 7/1/2053 <sup>(h)</sup>  | 770 | 650 |
| Fannie Mae Pool #MA5089 4.00% 7/1/2053 <sup>(h)</sup>  | 8309 | 7845 |
| Fannie Mae Pool #MA5070 4.50% 7/1/2053 <sup>(h)</sup>  | 13575 | 13220 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(h)</sup>  | 2240 | 2263 |
| Fannie Mae Pool #MA5107 5.50% 8/1/2053 <sup>(h)</sup>  | 98 | 99 |
| Fannie Mae Pool #CB7104 5.50% 9/1/2053 <sup>(h)</sup>  | 5268 | 5341 |
| Fannie Mae Pool #MA5139 6.00% 9/1/2053 <sup>(h)</sup>  | 19216 | 19698 |
| Fannie Mae Pool #MA5165 5.50% 10/1/2053 <sup>(h)</sup>  | 1728 | 1749 |
| Fannie Mae Pool #MA5166 6.00% 10/1/2053 <sup>(h)</sup>  | 4687 | 4802 |
| Fannie Mae Pool #BY1418 4.00% 11/1/2053 <sup>(h)</sup>  | 13681 | 12915 |
| Fannie Mae Pool #MA5207 4.00% 11/1/2053 <sup>(h)</sup>  | 13115 | 12376 |

---

American Funds Insurance Series — Page 112 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #FS6838 5.50% 11/1/2053 <sup>(h)</sup>  | USD4,003 | $4053 |
| Fannie Mae Pool #MA5191 6.00% 11/1/2053 <sup>(h)</sup>  | 7112 | 7286 |
| Fannie Mae Pool #MA5262 3.50% 12/1/2053 <sup>(h)</sup>  | 33 | 31 |
| Fannie Mae Pool #BY1448 4.00% 12/1/2053 <sup>(h)</sup>  | 11177 | 10547 |
| Fannie Mae Pool #FS6668 5.50% 12/1/2053 <sup>(h)</sup>  | 267 | 270 |
| Fannie Mae Pool #FS6873 6.50% 1/1/2054 <sup>(h)</sup>  | 7160 | 7407 |
| Fannie Mae Pool #FS6767 6.50% 1/1/2054 <sup>(h)</sup>  | 2117 | 2211 |
| Fannie Mae Pool #BY1343 4.00% 2/1/2054 <sup>(h)</sup>  | 12332 | 11634 |
| Fannie Mae Pool #FS7990 4.00% 2/1/2054 <sup>(h)</sup>  | 1898 | 1793 |
| Fannie Mae Pool #MA5271 5.50% 2/1/2054 <sup>(h)</sup>  | 621 | 628 |
| Fannie Mae Pool #FS6809 5.50% 2/1/2054 <sup>(h)</sup>  | 527 | 533 |
| Fannie Mae Pool #CB7932 6.00% 2/1/2054 <sup>(h)</sup>  | 3206 | 3290 |
| Fannie Mae Pool #CB7933 6.50% 2/1/2054 <sup>(h)</sup>  | 2182 | 2259 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(h)</sup>  | 11091 | 11207 |
| Fannie Mae Pool #CB8151 5.50% 3/1/2054 <sup>(h)</sup>  | 4656 | 4705 |
| Fannie Mae Pool #MA5295 6.00% 3/1/2054 <sup>(h)</sup>  | 867 | 888 |
| Fannie Mae Pool #CB8163 6.00% 3/1/2054 <sup>(h)</sup>  | 850 | 877 |
| Fannie Mae Pool #CB8168 6.00% 3/1/2054 <sup>(h)</sup>  | 9 | 9 |
| Fannie Mae Pool #CB8337 5.50% 4/1/2054 <sup>(h)</sup>  | 7185 | 7262 |
| Fannie Mae Pool #MA5388 5.50% 6/1/2054 <sup>(h)</sup>  | 1097 | 1108 |
| Fannie Mae Pool #DB6878 6.00% 6/1/2054 <sup>(h)</sup>  | 2207 | 2259 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(h)</sup>  | 985 | 1016 |
| Fannie Mae Pool #CB8755 6.00% 6/1/2054 <sup>(h)</sup>  | 974 | 1000 |
| Fannie Mae Pool #FS8223 6.00% 6/1/2054 <sup>(h)</sup>  | 847 | 868 |
| Fannie Mae Pool #FS8219 6.00% 6/1/2054 <sup>(h)</sup>  | 792 | 817 |
| Fannie Mae Pool #CB8725 6.50% 6/1/2054 <sup>(h)</sup>  | 984 | 1019 |
| Fannie Mae Pool #DB5480 6.50% 6/1/2054 <sup>(h)</sup>  | 55 | 57 |
| Fannie Mae Pool #DB5213 5.50% 7/1/2054 <sup>(h)</sup>  | 5976 | 6034 |
| Fannie Mae Pool #CB8842 5.50% 7/1/2054 <sup>(h)</sup>  | 2381 | 2411 |
| Fannie Mae Pool #BU4699 5.50% 7/1/2054 <sup>(h)</sup>  | 1483 | 1502 |
| Fannie Mae Pool #MA5421 6.00% 7/1/2054 <sup>(h)</sup>  | 12048 | 12324 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(h)</sup>  | 1364 | 1397 |
| Fannie Mae Pool #DB7039 6.00% 7/1/2054 <sup>(h)</sup>  | 647 | 665 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(h)</sup>  | 489 | 502 |
| Fannie Mae Pool #FS8619 6.50% 7/1/2054 <sup>(h)</sup>  | 4389 | 4574 |
| Fannie Mae Pool #FS8607 6.50% 7/1/2054 <sup>(h)</sup>  | 3338 | 3479 |
| Fannie Mae Pool #CB8872 6.50% 7/1/2054 <sup>(h)</sup>  | 1511 | 1575 |
| Fannie Mae Pool #CB8876 6.50% 7/1/2054 <sup>(h)</sup>  | 440 | 458 |
| Fannie Mae Pool #FS8317 6.50% 7/1/2054 <sup>(h)</sup>  | 248 | 258 |
| Fannie Mae Pool #CB8977 5.00% 8/1/2054 <sup>(h)</sup>  | 404 | 401 |
| Fannie Mae Pool #DB7783 5.50% 8/1/2054 <sup>(h)</sup>  | 1374 | 1390 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(h)</sup>  | 9096 | 9304 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(h)</sup>  | 2834 | 2917 |
| Fannie Mae Pool #FS8758 6.00% 8/1/2054 <sup>(h)</sup>  | 1580 | 1618 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(h)</sup>  | 1289 | 1321 |
| Fannie Mae Pool #FS8795 6.00% 8/1/2054 <sup>(h)</sup>  | 1147 | 1173 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(h)</sup>  | 1126 | 1159 |
| Fannie Mae Pool #BU4968 6.00% 8/1/2054 <sup>(h)</sup>  | 950 | 971 |
| Fannie Mae Pool #DB7687 6.00% 8/1/2054 <sup>(h)</sup>  | 334 | 344 |
| Fannie Mae Pool #DB7690 6.00% 8/1/2054 <sup>(h)</sup>  | 276 | 284 |
| Fannie Mae Pool #DC0296 6.00% 8/1/2054 <sup>(h)</sup>  | 274 | 282 |
| Fannie Mae Pool #CB9071 6.50% 8/1/2054 <sup>(h)</sup>  | 1751 | 1824 |
| Fannie Mae Pool #FS8783 6.50% 8/1/2054 <sup>(h)</sup>  | 1296 | 1350 |
| Fannie Mae Pool #CB9210 5.50% 9/1/2054 <sup>(h)</sup>  | 3811 | 3853 |

---

American Funds Insurance Series — Page 113 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #FS9025 5.50% 9/1/2054 <sup>(h)</sup>  | USD2,366 | $2406 |
| Fannie Mae Pool #CB9146 5.50% 9/1/2054 <sup>(h)</sup>  | 2194 | 2221 |
| Fannie Mae Pool #BU4946 5.50% 9/1/2054 <sup>(h)</sup>  | 1163 | 1175 |
| Fannie Mae Pool #FS8866 6.00% 9/1/2054 <sup>(h)</sup>  | 2845 | 2927 |
| Fannie Mae Pool #DC3262 6.00% 9/1/2054 <sup>(h)</sup>  | 397 | 407 |
| Fannie Mae Pool #DC3459 6.00% 9/1/2054 <sup>(h)</sup>  | 204 | 208 |
| Fannie Mae Pool #MA5494 4.00% 10/1/2054 <sup>(h)</sup>  | 2132 | 2011 |
| Fannie Mae Pool #DC3877 6.00% 10/1/2054 <sup>(h)</sup>  | 553 | 566 |
| Fannie Mae Pool #FS9439 3.50% 11/1/2054 <sup>(h)</sup>  | 921 | 842 |
| Fannie Mae Pool #DC5642 4.00% 11/1/2054 <sup>(h)</sup>  | 1681 | 1589 |
| Fannie Mae Pool #BU5165 5.50% 11/1/2054 <sup>(h)</sup>  | 1847 | 1869 |
| Fannie Mae Pool #DC6894 5.50% 11/1/2054 <sup>(h)</sup>  | 500 | 505 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(h)</sup>  | 302 | 305 |
| Fannie Mae Pool #BU5361 5.00% 12/1/2054 <sup>(h)</sup>  | 994 | 989 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(h)</sup>  | 85 | 85 |
| Fannie Mae Pool #CB9616 5.50% 12/1/2054 <sup>(h)</sup>  | 1427 | 1445 |
| Fannie Mae Pool #FA0287 6.00% 12/1/2054 <sup>(h)</sup>  | 26499 | 27094 |
| Fannie Mae Pool #DC7035 6.00% 12/1/2054 <sup>(h)</sup>  | 2983 | 3050 |
| Fannie Mae Pool #DC7823 6.00% 12/1/2054 <sup>(h)</sup>  | 320 | 328 |
| Fannie Mae Pool #MA5583 4.00% 1/1/2055 <sup>(h)</sup>  | 832 | 785 |
| Fannie Mae Pool #CB9736 4.50% 1/1/2055 <sup>(h)</sup>  | 13525 | 13130 |
| Fannie Mae Pool #CB9737 5.00% 1/1/2055 <sup>(h)</sup>  | 1791 | 1782 |
| Fannie Mae Pool #MA5587 6.00% 1/1/2055 <sup>(h)</sup>  | 4569 | 4673 |
| Fannie Mae Pool #DD0835 6.00% 1/1/2055 <sup>(h)</sup>  | 2766 | 2828 |
| Fannie Mae Pool #MA5612 4.50% 2/1/2055 <sup>(h)</sup>  | 11693 | 11351 |
| Fannie Mae Pool #FA0608 5.50% 2/1/2055 <sup>(h)</sup>  | 1786 | 1802 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(h)</sup>  | 21610 | 22100 |
| Fannie Mae Pool #MA5644 4.50% 3/1/2055 <sup>(h)</sup>  | 11721 | 11375 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(h)</sup>  | 7386 | 7553 |
| Fannie Mae Pool #MA5670 4.00% 4/1/2055 <sup>(h)</sup>  | 7385 | 6965 |
| Fannie Mae Pool #MA5671 4.50% 4/1/2055 <sup>(h)</sup>  | 12381 | 12016 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(h)</sup>  | 9197 | 9402 |
| Fannie Mae Pool #FA1162 6.00% 4/1/2055 <sup>(h)</sup>  | 312 | 319 |
| Fannie Mae Pool #DD4459 6.00% 4/1/2055 <sup>(h)</sup>  | 298 | 305 |
| Fannie Mae Pool #MA5700 5.50% 5/1/2055 <sup>(h)</sup>  | 310 | 312 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(h)</sup>  | 16520 | 16888 |
| Fannie Mae Pool #MA5761 6.00% 7/1/2055 <sup>(h)</sup>  | 2528 | 2584 |
| Fannie Mae Pool #DE2192 6.00% 7/1/2055 <sup>(h)</sup>  | 1282 | 1311 |
| Fannie Mae Pool #DD9889 6.00% 7/1/2055 <sup>(h)</sup>  | 964 | 986 |
| Fannie Mae Pool #MA5793 6.00% 8/1/2055 <sup>(h)</sup>  | 2177 | 2226 |
| Fannie Mae Pool #CC0879 6.00% 8/1/2055 <sup>(h)</sup>  | 1206 | 1244 |
| Fannie Mae Pool #BF0133 4.00% 8/1/2056 <sup>(h)</sup>  | 5331 | 5044 |
| Fannie Mae Pool #BM6736 4.50% 11/1/2059 <sup>(h)</sup>  | 9263 | 9081 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060 <sup>(h)</sup>  | 3267 | 2860 |
| Fannie Mae Pool #BF0546 2.50% 7/1/2061 <sup>(h)</sup>  | 9119 | 7450 |
| Fannie Mae Pool #BF0762 3.00% 9/1/2063 <sup>(h)</sup>  | 744 | 639 |
| Fannie Mae Pool #BF0784 3.50% 12/1/2063 <sup>(h)</sup>  | 3170 | 2851 |
| Fannie Mae Pool #BF0786 4.00% 12/1/2063 <sup>(h)</sup>  | 3550 | 3328 |
| Fannie Mae, Series 2002-W3, Class A5, 7.50% 11/25/2041 <sup>(h)</sup>  | 19 | 20 |
| Fannie Mae, Series 2001-T10, Class A1, 7.00% 12/25/2041 <sup>(h)</sup>  | 52 | 54 |
| Fannie Mae, Series 2006-43, Class JO, principal only, 0% 6/25/2036 <sup>(h)</sup>  | 25 | 22 |
| Freddie Mac Pool #C91912 3.00% 2/1/2037 <sup>(h)</sup>  | 6975 | 6619 |
| Freddie Mac Pool #SB0649 2.50% 4/1/2037 <sup>(h)</sup>  | 177 | 167 |
| Freddie Mac Pool #SB1388 2.50% 1/1/2038 <sup>(h)</sup>  | 50 | 47 |

---

American Funds Insurance Series — Page 114 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #G03978 5.00% 3/1/2038 <sup>(h)</sup>  | USD288 | $296 |
| Freddie Mac Pool #G04553 6.50% 9/1/2038 <sup>(h)</sup>  | 36 | 38 |
| Freddie Mac Pool #G08347 4.50% 6/1/2039 <sup>(h)</sup>  | 43 | 43 |
| Freddie Mac Pool #RB5071 2.00% 9/1/2040 <sup>(h)</sup>  | 17769 | 15453 |
| Freddie Mac Pool #C03518 5.00% 9/1/2040 <sup>(h)</sup>  | 424 | 435 |
| Freddie Mac Pool #Q05807 4.00% 1/1/2042 <sup>(h)</sup>  | 1201 | 1172 |
| Freddie Mac Pool #Q23185 4.00% 11/1/2043 <sup>(h)</sup>  | 795 | 774 |
| Freddie Mac Pool #Q23190 4.00% 11/1/2043 <sup>(h)</sup>  | 518 | 504 |
| Freddie Mac Pool #760014 4.639% 8/1/2045 <sup>(h)(i)</sup>  | 138 | 138 |
| Freddie Mac Pool #Q37988 4.00% 12/1/2045 <sup>(h)</sup>  | 3455 | 3340 |
| Freddie Mac Pool #G60344 4.00% 12/1/2045 <sup>(h)</sup>  | 3296 | 3193 |
| Freddie Mac Pool #Z40130 3.00% 1/1/2046 <sup>(h)</sup>  | 3224 | 2973 |
| Freddie Mac Pool #Q41090 4.50% 6/1/2046 <sup>(h)</sup>  | 170 | 169 |
| Freddie Mac Pool #Q41909 4.50% 7/1/2046 <sup>(h)</sup>  | 170 | 169 |
| Freddie Mac Pool #760015 3.726% 1/1/2047 <sup>(h)(i)</sup>  | 334 | 327 |
| Freddie Mac Pool #Q46021 3.50% 2/1/2047 <sup>(h)</sup>  | 1045 | 978 |
| Freddie Mac Pool #SI2002 4.00% 3/1/2048 <sup>(h)</sup>  | 1796 | 1727 |
| Freddie Mac Pool #Z40273 4.50% 10/1/2048 <sup>(h)</sup>  | 1540 | 1523 |
| Freddie Mac Pool #RA3055 2.50% 7/1/2050 <sup>(h)</sup>  | 738 | 623 |
| Freddie Mac Pool #SI2046 2.50% 8/1/2050 <sup>(h)</sup>  | 2534 | 2138 |
| Freddie Mac Pool #RA3384 3.00% 8/1/2050 <sup>(h)</sup>  | 292 | 259 |
| Freddie Mac Pool #SD8106 2.00% 11/1/2050 <sup>(h)</sup>  | 24796 | 20196 |
| Freddie Mac Pool #SD7528 2.00% 11/1/2050 <sup>(h)</sup>  | 14320 | 11742 |
| Freddie Mac Pool #RA3952 2.00% 11/1/2050 <sup>(h)</sup>  | 1979 | 1601 |
| Freddie Mac Pool #QB7306 2.00% 1/1/2051 <sup>(h)</sup>  | 1769 | 1428 |
| Freddie Mac Pool #QB8422 2.00% 2/1/2051 <sup>(h)</sup>  | 2204 | 1779 |
| Freddie Mac Pool #QB8934 2.50% 2/1/2051 <sup>(h)</sup>  | 33 | 28 |
| Freddie Mac Pool #RA4542 2.50% 2/1/2051 <sup>(h)</sup>  | 24 | 20 |
| Freddie Mac Pool #SI2108 2.50% 4/1/2051 <sup>(h)</sup>  | 58 | 49 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051 <sup>(h)</sup>  | 25738 | 21066 |
| Freddie Mac Pool #SD3984 2.00% 5/1/2051 <sup>(h)</sup>  | 1979 | 1597 |
| Freddie Mac Pool #RA5155 2.00% 5/1/2051 <sup>(h)</sup>  | 52 | 42 |
| Freddie Mac Pool #SD3095 2.50% 7/1/2051 <sup>(h)</sup>  | 661 | 558 |
| Freddie Mac Pool #SD7544 3.00% 7/1/2051 <sup>(h)</sup>  | 326 | 293 |
| Freddie Mac Pool #SD8160 2.00% 8/1/2051 <sup>(h)</sup>  | 777 | 631 |
| Freddie Mac Pool #QC5857 3.00% 8/1/2051 <sup>(h)</sup>  | 328 | 289 |
| Freddie Mac Pool #RA5759 2.50% 9/1/2051 <sup>(h)</sup>  | 16772 | 14148 |
| Freddie Mac Pool #RA5782 2.50% 9/1/2051 <sup>(h)</sup>  | 8122 | 6974 |
| Freddie Mac Pool #SD7545 2.50% 9/1/2051 <sup>(h)</sup>  | 5573 | 4800 |
| Freddie Mac Pool #SD2963 2.50% 9/1/2051 <sup>(h)</sup>  | 793 | 669 |
| Freddie Mac Pool #SD5485 2.50% 9/1/2051 <sup>(h)</sup>  | 46 | 39 |
| Freddie Mac Pool #RA5971 3.00% 9/1/2051 <sup>(h)</sup>  | 5413 | 4841 |
| Freddie Mac Pool #QC6456 3.00% 9/1/2051 <sup>(h)</sup>  | 632 | 556 |
| Freddie Mac Pool #RA5841 3.00% 9/1/2051 <sup>(h)</sup>  | 95 | 84 |
| Freddie Mac Pool #RA6136 2.50% 10/1/2051 <sup>(h)</sup>  | 2934 | 2475 |
| Freddie Mac Pool #SD0734 3.00% 10/1/2051 <sup>(h)</sup>  | 147 | 132 |
| Freddie Mac Pool #QD1841 2.00% 11/1/2051 <sup>(h)</sup>  | 3631 | 2940 |
| Freddie Mac Pool #QD2256 3.00% 11/1/2051 <sup>(h)</sup>  | 786 | 692 |
| Freddie Mac Pool #SD8182 2.00% 12/1/2051 <sup>(h)</sup>  | 1592 | 1291 |
| Freddie Mac Pool #SD1605 2.50% 12/1/2051 <sup>(h)</sup>  | 16934 | 14285 |
| Freddie Mac Pool #RA6483 2.50% 12/1/2051 <sup>(h)</sup>  | 5468 | 4683 |
| Freddie Mac Pool #QD3619 2.50% 12/1/2051 <sup>(h)</sup>  | 2966 | 2505 |
| Freddie Mac Pool #SD1403 2.00% 1/1/2052 <sup>(h)</sup>  | 1988 | 1604 |
| Freddie Mac Pool #QD5035 2.00% 1/1/2052 <sup>(h)</sup>  | 994 | 802 |

---

American Funds Insurance Series — Page 115 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SD2629 2.50% 1/1/2052 <sup>(h)</sup>  | USD2,586 | $2186 |
| Freddie Mac Pool #SD7552 2.50% 1/1/2052 <sup>(h)</sup>  | 1937 | 1663 |
| Freddie Mac Pool #RA6614 2.50% 1/1/2052 <sup>(h)</sup>  | 901 | 762 |
| Freddie Mac Pool #SD0853 2.50% 1/1/2052 <sup>(h)</sup>  | 24 | 21 |
| Freddie Mac Pool #QD5662 3.00% 1/1/2052 <sup>(h)</sup>  | 1995 | 1758 |
| Freddie Mac Pool #SD0813 3.00% 1/1/2052 <sup>(h)</sup>  | 275 | 246 |
| Freddie Mac Pool #RA6771 2.00% 2/1/2052 <sup>(h)</sup>  | 4352 | 3512 |
| Freddie Mac Pool #RA6816 2.00% 2/1/2052 <sup>(h)</sup>  | 1984 | 1601 |
| Freddie Mac Pool #QD7414 2.00% 2/1/2052 <sup>(h)</sup>  | 1634 | 1323 |
| Freddie Mac Pool #RA6114 2.00% 2/1/2052 <sup>(h)</sup>  | 1580 | 1279 |
| Freddie Mac Pool #QD5748 2.00% 2/1/2052 <sup>(h)</sup>  | 842 | 681 |
| Freddie Mac Pool #SD8193 2.00% 2/1/2052 <sup>(h)</sup>  | 813 | 659 |
| Freddie Mac Pool #QD7312 2.50% 2/1/2052 <sup>(h)</sup>  | 526 | 446 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052 <sup>(h)</sup>  | 817 | 753 |
| Freddie Mac Pool #SD5343 2.00% 3/1/2052 <sup>(h)</sup>  | 3721 | 3015 |
| Freddie Mac Pool #SD8199 2.00% 3/1/2052 <sup>(h)</sup>  | 2856 | 2315 |
| Freddie Mac Pool #SD4526 2.00% 3/1/2052 <sup>(h)</sup>  | 1982 | 1604 |
| Freddie Mac Pool #QD7772 2.00% 3/1/2052 <sup>(h)</sup>  | 1719 | 1390 |
| Freddie Mac Pool #QD8408 2.00% 3/1/2052 <sup>(h)</sup>  | 1070 | 866 |
| Freddie Mac Pool #QD8103 2.00% 3/1/2052 <sup>(h)</sup>  | 840 | 680 |
| Freddie Mac Pool #QD8820 2.00% 3/1/2052 <sup>(h)</sup>  | 254 | 205 |
| Freddie Mac Pool #SD5745 2.00% 3/1/2052 <sup>(h)</sup>  | 55 | 45 |
| Freddie Mac Pool #QD9460 2.50% 3/1/2052 <sup>(h)</sup>  | 833 | 705 |
| Freddie Mac Pool #RA7091 2.50% 3/1/2052 <sup>(h)</sup>  | 29 | 24 |
| Freddie Mac Pool #QD9974 3.00% 3/1/2052 <sup>(h)</sup>  | 1615 | 1423 |
| Freddie Mac Pool #QD7983 3.50% 3/1/2052 <sup>(h)</sup>  | 459 | 420 |
| Freddie Mac Pool #SD8204 2.00% 4/1/2052 <sup>(h)</sup>  | 2900 | 2345 |
| Freddie Mac Pool #QD9950 2.00% 4/1/2052 <sup>(h)</sup>  | 1712 | 1385 |
| Freddie Mac Pool #QD9791 2.00% 4/1/2052 <sup>(h)</sup>  | 1549 | 1253 |
| Freddie Mac Pool #QE0312 2.00% 4/1/2052 <sup>(h)</sup>  | 1035 | 837 |
| Freddie Mac Pool #QD9907 2.50% 4/1/2052 <sup>(h)</sup>  | 767 | 650 |
| Freddie Mac Pool #QE0812 2.50% 4/1/2052 <sup>(h)</sup>  | 587 | 497 |
| Freddie Mac Pool #QE1005 2.50% 4/1/2052 <sup>(h)</sup>  | 338 | 285 |
| Freddie Mac Pool #RA7177 2.50% 4/1/2052 <sup>(h)</sup>  | 135 | 114 |
| Freddie Mac Pool #SD3478 2.50% 4/1/2052 <sup>(h)</sup>  | 109 | 92 |
| Freddie Mac Pool #SD7554 2.50% 4/1/2052 <sup>(h)</sup>  | 74 | 64 |
| Freddie Mac Pool #QD9765 2.50% 4/1/2052 <sup>(h)</sup>  | 28 | 23 |
| Freddie Mac Pool #QE0707 3.00% 4/1/2052 <sup>(h)</sup>  | 151 | 133 |
| Freddie Mac Pool #QE0660 3.00% 4/1/2052 <sup>(h)</sup>  | 61 | 54 |
| Freddie Mac Pool #QD9758 3.00% 4/1/2052 <sup>(h)</sup>  | 45 | 40 |
| Freddie Mac Pool #QE0744 3.50% 4/1/2052 <sup>(h)</sup>  | 351 | 321 |
| Freddie Mac Pool #QE1578 2.50% 5/1/2052 <sup>(h)</sup>  | 807 | 683 |
| Freddie Mac Pool #QE2020 2.50% 5/1/2052 <sup>(h)</sup>  | 155 | 131 |
| Freddie Mac Pool #QE2111 2.50% 5/1/2052 <sup>(h)</sup>  | 117 | 99 |
| Freddie Mac Pool #QE3448 2.50% 5/1/2052 <sup>(h)</sup>  | 24 | 20 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(h)</sup>  | 29369 | 25873 |
| Freddie Mac Pool #QE3080 3.00% 5/1/2052 <sup>(h)</sup>  | 927 | 817 |
| Freddie Mac Pool #SD4807 2.00% 6/1/2052 <sup>(h)</sup>  | 3478 | 2822 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052 <sup>(h)</sup>  | 14741 | 12973 |
| Freddie Mac Pool #SD6203 3.00% 6/1/2052 <sup>(h)</sup>  | 288 | 253 |
| Freddie Mac Pool #QE4383 4.00% 6/1/2052 <sup>(h)</sup>  | 1757 | 1660 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(h)</sup>  | 29146 | 25636 |
| Freddie Mac Pool #SD1389 3.00% 7/1/2052 <sup>(h)</sup>  | 1696 | 1494 |
| Freddie Mac Pool #QE8277 3.50% 7/1/2052 <sup>(h)</sup>  | 37 | 33 |

---

American Funds Insurance Series — Page 116 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SD7556 3.00% 8/1/2052 <sup>(h)</sup>  | USD1,137 | $1011 |
| Freddie Mac Pool #QE7976 4.50% 8/1/2052 <sup>(h)</sup>  | 35676 | 34928 |
| Freddie Mac Pool #QE8579 4.50% 8/1/2052 <sup>(h)</sup>  | 158 | 154 |
| Freddie Mac Pool #SD8262 2.50% 9/1/2052 <sup>(h)</sup>  | 850 | 719 |
| Freddie Mac Pool #RA8252 2.50% 9/1/2052 <sup>(h)</sup>  | 718 | 609 |
| Freddie Mac Pool #SD1581 2.50% 9/1/2052 <sup>(h)</sup>  | 98 | 83 |
| Freddie Mac Pool #QF0925 3.00% 9/1/2052 <sup>(h)</sup>  | 1896 | 1669 |
| Freddie Mac Pool #QF0212 4.50% 9/1/2052 <sup>(h)</sup>  | 705 | 688 |
| Freddie Mac Pool #QE9497 4.50% 9/1/2052 <sup>(h)</sup>  | 174 | 170 |
| Freddie Mac Pool #SD1608 4.50% 9/1/2052 <sup>(h)</sup>  | 105 | 102 |
| Freddie Mac Pool #RA7938 5.00% 9/1/2052 <sup>(h)</sup>  | 912 | 911 |
| Freddie Mac Pool #QF2023 4.00% 10/1/2052 <sup>(h)</sup>  | 28 | 27 |
| Freddie Mac Pool #QF1236 4.50% 10/1/2052 <sup>(h)</sup>  | 1024 | 999 |
| Freddie Mac Pool #SD2465 4.50% 10/1/2052 <sup>(h)</sup>  | 70 | 68 |
| Freddie Mac Pool #SD8266 4.50% 11/1/2052 <sup>(h)</sup>  | 2633 | 2567 |
| Freddie Mac Pool #SD8276 5.00% 12/1/2052 <sup>(h)</sup>  | 5054 | 5039 |
| Freddie Mac Pool #QF5938 2.50% 1/1/2053 <sup>(h)</sup>  | 222 | 188 |
| Freddie Mac Pool #SD8303 2.50% 1/1/2053 <sup>(h)</sup>  | 70 | 60 |
| Freddie Mac Pool #SD8287 4.50% 1/1/2053 <sup>(h)</sup>  | 15766 | 15367 |
| Freddie Mac Pool #RA8625 2.50% 2/1/2053 <sup>(h)</sup>  | 921 | 778 |
| Freddie Mac Pool #QF7871 2.50% 2/1/2053 <sup>(h)</sup>  | 739 | 624 |
| Freddie Mac Pool #SD8297 4.00% 2/1/2053 <sup>(h)</sup>  | 1805 | 1705 |
| Freddie Mac Pool #SD8305 4.00% 3/1/2053 <sup>(h)</sup>  | 16561 | 15673 |
| Freddie Mac Pool #SD2716 5.00% 4/1/2053 <sup>(h)</sup>  | 1032 | 1032 |
| Freddie Mac Pool #SD8321 4.00% 5/1/2053 <sup>(h)</sup>  | 10072 | 9513 |
| Freddie Mac Pool #RA8647 4.50% 5/1/2053 <sup>(h)</sup>  | 71 | 69 |
| Freddie Mac Pool #SD8323 5.00% 5/1/2053 <sup>(h)</sup>  | 9289 | 9234 |
| Freddie Mac Pool #SD8338 4.00% 6/1/2053 <sup>(h)</sup>  | 2940 | 2774 |
| Freddie Mac Pool #SD8329 5.00% 6/1/2053 <sup>(h)</sup>  | 3550 | 3538 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(h)</sup>  | 2658 | 2691 |
| Freddie Mac Pool #RA9294 6.50% 6/1/2053 <sup>(h)</sup>  | 560 | 584 |
| Freddie Mac Pool #RA9292 6.50% 6/1/2053 <sup>(h)</sup>  | 499 | 519 |
| Freddie Mac Pool #RA9289 6.50% 6/1/2053 <sup>(h)</sup>  | 467 | 491 |
| Freddie Mac Pool #RA9288 6.50% 6/1/2053 <sup>(h)</sup>  | 458 | 482 |
| Freddie Mac Pool #RA9287 6.50% 6/1/2053 <sup>(h)</sup>  | 322 | 339 |
| Freddie Mac Pool #RA9290 6.50% 6/1/2053 <sup>(h)</sup>  | 250 | 262 |
| Freddie Mac Pool #RA9291 6.50% 6/1/2053 <sup>(h)</sup>  | 156 | 162 |
| Freddie Mac Pool #RA9295 6.50% 6/1/2053 <sup>(h)</sup>  | 137 | 146 |
| Freddie Mac Pool #SD3417 2.50% 7/1/2053 <sup>(h)</sup>  | 854 | 722 |
| Freddie Mac Pool #SD8356 3.00% 7/1/2053 <sup>(h)</sup>  | 1694 | 1489 |
| Freddie Mac Pool #SD8353 4.00% 7/1/2053 <sup>(h)</sup>  | 8028 | 7577 |
| Freddie Mac Pool #SD8341 5.00% 7/1/2053 <sup>(h)</sup>  | 27 | 27 |
| Freddie Mac Pool #SD8342 5.50% 7/1/2053 <sup>(h)</sup>  | 8188 | 8280 |
| Freddie Mac Pool #SD3432 6.00% 7/1/2053 <sup>(h)</sup>  | 676 | 700 |
| Freddie Mac Pool #SD8359 3.50% 8/1/2053 <sup>(h)</sup>  | 263 | 241 |
| Freddie Mac Pool #QH1153 4.00% 9/1/2053 <sup>(h)</sup>  | 343 | 327 |
| Freddie Mac Pool #SD8362 5.50% 9/1/2053 <sup>(h)</sup>  | 25823 | 26099 |
| Freddie Mac Pool #SD4550 2.50% 10/1/2053 <sup>(h)</sup>  | 829 | 700 |
| Freddie Mac Pool #SD4077 2.50% 10/1/2053 <sup>(h)</sup>  | 101 | 86 |
| Freddie Mac Pool #SD4053 6.00% 10/1/2053 <sup>(h)</sup>  | 4680 | 4802 |
| Freddie Mac Pool #SD8390 4.00% 11/1/2053 <sup>(h)</sup>  | 24 | 23 |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(h)</sup>  | 85685 | 85354 |
| Freddie Mac Pool #SD8372 5.50% 11/1/2053 <sup>(h)</sup>  | 22791 | 23065 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(h)</sup>  | 697 | 724 |

---

American Funds Insurance Series — Page 117 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SD4693 6.50% 1/1/2054 <sup>(h)</sup>  | USD562 | $583 |
| Freddie Mac Pool #RJ0854 6.50% 1/1/2054 <sup>(h)</sup>  | 285 | 295 |
| Freddie Mac Pool #QI0231 5.00% 2/1/2054 <sup>(h)</sup>  | 38 | 38 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(h)</sup>  | 428 | 433 |
| Freddie Mac Pool #SD8402 6.00% 2/1/2054 <sup>(h)</sup>  | 12691 | 12988 |
| Freddie Mac Pool #RJ1871 4.00% 3/1/2054 <sup>(h)</sup>  | 301 | 283 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(h)</sup>  | 11428 | 11546 |
| Freddie Mac Pool #RJ1015 6.50% 3/1/2054 <sup>(h)</sup>  | 117 | 121 |
| Freddie Mac Pool #QI3548 4.00% 4/1/2054 <sup>(h)</sup>  | 668 | 630 |
| Freddie Mac Pool #RJ1216 5.50% 4/1/2054 <sup>(h)</sup>  | 1549 | 1575 |
| Freddie Mac Pool #RJ1215 5.50% 4/1/2054 <sup>(h)</sup>  | 1126 | 1138 |
| Freddie Mac Pool #QI3333 6.00% 4/1/2054 <sup>(h)</sup>  | 399 | 411 |
| Freddie Mac Pool #RJ1417 5.50% 5/1/2054 <sup>(h)</sup>  | 15245 | 15496 |
| Freddie Mac Pool #RJ1419 5.50% 5/1/2054 <sup>(h)</sup>  | 7681 | 7764 |
| Freddie Mac Pool #RJ1448 5.50% 5/1/2054 <sup>(h)</sup>  | 2928 | 2959 |
| Freddie Mac Pool #SD5692 6.00% 5/1/2054 <sup>(h)</sup>  | 505 | 521 |
| Freddie Mac Pool #RJ1768 5.50% 6/1/2054 <sup>(h)</sup>  | 425 | 432 |
| Freddie Mac Pool #RJ1785 6.00% 6/1/2054 <sup>(h)</sup>  | 1628 | 1677 |
| Freddie Mac Pool #RJ1779 6.00% 6/1/2054 <sup>(h)</sup>  | 1149 | 1187 |
| Freddie Mac Pool #RJ1797 6.50% 6/1/2054 <sup>(h)</sup>  | 1698 | 1760 |
| Freddie Mac Pool #RJ1725 6.50% 6/1/2054 <sup>(h)</sup>  | 483 | 505 |
| Freddie Mac Pool #QI8825 5.00% 7/1/2054 <sup>(h)</sup>  | 1900 | 1889 |
| Freddie Mac Pool #SD8446 5.50% 7/1/2054 <sup>(h)</sup>  | 999 | 1008 |
| Freddie Mac Pool #QI8872 5.50% 7/1/2054 <sup>(h)</sup>  | 729 | 738 |
| Freddie Mac Pool #RJ1963 5.50% 7/1/2054 <sup>(h)</sup>  | 621 | 628 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(h)</sup>  | 6675 | 6830 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(h)</sup>  | 2994 | 3088 |
| Freddie Mac Pool #SD5896 6.00% 7/1/2054 <sup>(h)</sup>  | 702 | 719 |
| Freddie Mac Pool #QI8874 6.00% 7/1/2054 <sup>(h)</sup>  | 200 | 205 |
| Freddie Mac Pool #SD8448 6.50% 7/1/2054 <sup>(h)</sup>  | 11236 | 11618 |
| Freddie Mac Pool #RJ1986 6.50% 7/1/2054 <sup>(h)</sup>  | 5168 | 5355 |
| Freddie Mac Pool #SD5905 6.50% 7/1/2054 <sup>(h)</sup>  | 2016 | 2101 |
| Freddie Mac Pool #RJ2193 5.00% 8/1/2054 <sup>(h)</sup>  | 336 | 335 |
| Freddie Mac Pool #RJ2241 5.00% 8/1/2054 <sup>(h)</sup>  | 239 | 238 |
| Freddie Mac Pool #RJ2195 5.00% 8/1/2054 <sup>(h)</sup>  | 214 | 212 |
| Freddie Mac Pool #RJ2200 5.50% 8/1/2054 <sup>(h)</sup>  | 6141 | 6215 |
| Freddie Mac Pool #RJ2206 5.50% 8/1/2054 <sup>(h)</sup>  | 3868 | 3910 |
| Freddie Mac Pool #RJ2243 5.50% 8/1/2054 <sup>(h)</sup>  | 3538 | 3579 |
| Freddie Mac Pool #SD6286 5.50% 8/1/2054 <sup>(h)</sup>  | 1146 | 1165 |
| Freddie Mac Pool #RJ2203 5.50% 8/1/2054 <sup>(h)</sup>  | 623 | 631 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(h)</sup>  | 5083 | 5199 |
| Freddie Mac Pool #RJ2212 6.00% 8/1/2054 <sup>(h)</sup>  | 2813 | 2902 |
| Freddie Mac Pool #RJ2216 6.00% 8/1/2054 <sup>(h)</sup>  | 2744 | 2811 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(h)</sup>  | 1752 | 1802 |
| Freddie Mac Pool #RJ2210 6.00% 8/1/2054 <sup>(h)</sup>  | 943 | 967 |
| Freddie Mac Pool #QJ3296 6.00% 8/1/2054 <sup>(h)</sup>  | 220 | 226 |
| Freddie Mac Pool #SD8455 6.50% 8/1/2054 <sup>(h)</sup>  | 2476 | 2558 |
| Freddie Mac Pool #RJ2222 6.50% 8/1/2054 <sup>(h)</sup>  | 1704 | 1776 |
| Freddie Mac Pool #RJ2247 6.50% 8/1/2054 <sup>(h)</sup>  | 1419 | 1476 |
| Freddie Mac Pool #RJ2228 6.50% 8/1/2054 <sup>(h)</sup>  | 817 | 847 |
| Freddie Mac Pool #RJ2422 5.50% 9/1/2054 <sup>(h)</sup>  | 3576 | 3619 |
| Freddie Mac Pool #SD6328 5.50% 9/1/2054 <sup>(h)</sup>  | 2892 | 2940 |
| Freddie Mac Pool #QJ3044 5.50% 9/1/2054 <sup>(h)</sup>  | 2335 | 2359 |
| Freddie Mac Pool #RJ2298 5.50% 9/1/2054 <sup>(h)</sup>  | 2292 | 2316 |

---

American Funds Insurance Series — Page 118 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #RJ2415 5.50% 9/1/2054 <sup>(h)</sup>  | USD1,497 | $1524 |
| Freddie Mac Pool #RJ2408 5.50% 9/1/2054 <sup>(h)</sup>  | 1358 | 1374 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(h)</sup>  | 1155 | 1166 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(h)</sup>  | 6144 | 6300 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(h)</sup>  | 3334 | 3432 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(h)</sup>  | 3102 | 3201 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(h)</sup>  | 2946 | 3046 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(h)</sup>  | 1810 | 1854 |
| Freddie Mac Pool #SD8463 6.00% 9/1/2054 <sup>(h)</sup>  | 795 | 813 |
| Freddie Mac Pool #SD6271 6.50% 9/1/2054 <sup>(h)</sup>  | 1117 | 1159 |
| Freddie Mac Pool #QJ4693 6.50% 9/1/2054 <sup>(h)</sup>  | 551 | 574 |
| Freddie Mac Pool #RJ2474 6.50% 9/1/2054 <sup>(h)</sup>  | 372 | 386 |
| Freddie Mac Pool #RJ2411 6.50% 9/1/2054 <sup>(h)</sup>  | 248 | 257 |
| Freddie Mac Pool #RJ2470 6.50% 9/1/2054 <sup>(h)</sup>  | 128 | 133 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(h)</sup>  | 1555 | 1570 |
| Freddie Mac Pool #RJ2850 4.50% 11/1/2054 <sup>(h)</sup>  | 2102 | 2045 |
| Freddie Mac Pool #RJ2851 4.50% 11/1/2054 <sup>(h)</sup>  | 118 | 115 |
| Freddie Mac Pool #RJ2860 5.00% 11/1/2054 <sup>(h)</sup>  | 5165 | 5129 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(h)</sup>  | 6452 | 6513 |
| Freddie Mac Pool #RJ2913 5.50% 11/1/2054 <sup>(h)</sup>  | 5634 | 5692 |
| Freddie Mac Pool #RJ3017 5.00% 12/1/2054 <sup>(h)</sup>  | 5692 | 5656 |
| Freddie Mac Pool #RJ3163 5.00% 12/1/2054 <sup>(h)</sup>  | 3402 | 3388 |
| Freddie Mac Pool #QX1743 5.00% 12/1/2054 <sup>(h)</sup>  | 854 | 850 |
| Freddie Mac Pool #QX2834 5.00% 12/1/2054 <sup>(h)</sup>  | 279 | 277 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(h)</sup>  | 3201 | 3230 |
| Freddie Mac Pool #QX0376 5.50% 12/1/2054 <sup>(h)</sup>  | 1258 | 1273 |
| Freddie Mac Pool #QX1414 5.50% 12/1/2054 <sup>(h)</sup>  | 292 | 295 |
| Freddie Mac Pool #SD8494 5.50% 1/1/2055 <sup>(h)</sup>  | 4278 | 4317 |
| Freddie Mac Pool #SD8496 6.00% 1/1/2055 <sup>(h)</sup>  | 11051 | 11303 |
| Freddie Mac Pool #QX4065 6.00% 1/1/2055 <sup>(h)</sup>  | 1873 | 1916 |
| Freddie Mac Pool #SD8503 4.00% 2/1/2055 <sup>(h)</sup>  | 3059 | 2885 |
| Freddie Mac Pool #RJ3264 4.50% 2/1/2055 <sup>(h)</sup>  | 3566 | 3462 |
| Freddie Mac Pool #SD8506 5.50% 2/1/2055 <sup>(h)</sup>  | 178 | 180 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(h)</sup>  | 9158 | 9370 |
| Freddie Mac Pool #SL0588 3.50% 3/1/2055 <sup>(h)</sup>  | 235 | 215 |
| Freddie Mac Pool #SD8515 5.50% 3/1/2055 <sup>(h)</sup>  | 1048 | 1058 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(h)</sup>  | 2554 | 2612 |
| Freddie Mac Pool #SD8517 6.50% 3/1/2055 <sup>(h)</sup>  | 14950 | 15464 |
| Freddie Mac Pool #SL1094 5.00% 4/1/2055 <sup>(h)</sup>  | 1661 | 1651 |
| Freddie Mac Pool #SL0796 6.00% 4/1/2055 <sup>(h)</sup>  | 5390 | 5513 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(h)</sup>  | 4905 | 5016 |
| Freddie Mac Pool #QY2186 6.50% 4/1/2055 <sup>(h)</sup>  | 4680 | 4841 |
| Freddie Mac Pool #SD8533 5.50% 5/1/2055 <sup>(h)</sup>  | 10669 | 10765 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(h)</sup>  | 61138 | 62500 |
| Freddie Mac Pool #SL1138 6.00% 5/1/2055 <sup>(h)</sup>  | 761 | 779 |
| Freddie Mac Pool #SL1137 6.00% 5/1/2055 <sup>(h)</sup>  | 691 | 707 |
| Freddie Mac Pool #RJ4529 6.00% 5/1/2055 <sup>(h)</sup>  | 205 | 210 |
| Freddie Mac Pool #RQ0010 4.00% 6/1/2055 <sup>(h)</sup>  | 41 | 39 |
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(h)</sup>  | 2115 | 2133 |
| Freddie Mac Pool #RQ0026 5.00% 7/1/2055 <sup>(h)</sup>  | 3992 | 3962 |
| Freddie Mac Pool #RQ0028 6.00% 7/1/2055 <sup>(h)</sup>  | 47206 | 48258 |
| Freddie Mac Pool #RQ0041 6.00% 8/1/2055 <sup>(h)</sup>  | 3041 | 3109 |
| Freddie Mac Pool #RQ0050 6.00% 9/1/2055 <sup>(h)</sup>  | 266 | 272 |
| Freddie Mac, Series T041, Class 3A, 4.404% 7/25/2032 <sup>(h)(i)</sup>  | 144 | 132 |

---

American Funds Insurance Series — Page 119 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac, Series K755, Class A2, Multi Family, 5.203% 2/25/2031 <sup>(h)</sup>  | USD10,192 | $10702 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056 <sup>(h)</sup>  | 1991 | 1877 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HA, 3.25% 7/25/2056 <sup>(h)(i)</sup>  | 855 | 814 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056 <sup>(h)</sup>  | 3971 | 3747 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056 <sup>(h)(i)</sup>  | 3815 | 3582 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 6/25/2057 <sup>(h)(i)</sup>  | 752 | 681 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT, 3.50% 6/25/2057 <sup>(h)</sup>  | 625 | 570 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057 <sup>(h)(i)</sup>  | 1200 | 1170 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT, 3.50% 11/25/2057 <sup>(h)</sup>  | 1602 | 1439 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/26/2058 <sup>(h)</sup>  | 6674 | 6452 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA, 3.00% 2/25/2059 <sup>(h)</sup>  | 3902 | 3618 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028 <sup>(h)</sup>  | 1560 | 1528 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-1, Class A1, 3.50% 5/25/2029 <sup>(h)</sup>  | 3028 | 2961 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-1, Class A2, 3.50% 5/25/2029 <sup>(h)</sup>  | 2455 | 2387 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-3, Class A1C, 2.75% 11/25/2029 <sup>(h)</sup>  | 1891 | 1806 |
| Government National Mortgage Assn. Pool #BD7245 4.00% 1/20/2048 <sup>(h)</sup>  | 408 | 386 |
| Government National Mortgage Assn. Pool #MA5652 4.50% 12/20/2048 <sup>(h)</sup>  | 248 | 245 |
| Government National Mortgage Assn. Pool #MA6602 4.50% 4/20/2050 <sup>(h)</sup>  | 147 | 145 |
| Government National Mortgage Assn. Pool #MA6994 2.00% 11/20/2050 <sup>(h)</sup>  | 6493 | 5375 |
| Government National Mortgage Assn. Pool #MA7051 2.00% 12/20/2050 <sup>(h)</sup>  | 64914 | 53713 |
| Government National Mortgage Assn. Pool #MA7259 4.50% 3/20/2051 <sup>(h)</sup>  | 1292 | 1279 |
| Government National Mortgage Assn. Pool #MA7316 4.50% 4/20/2051 <sup>(h)</sup>  | 359 | 356 |
| Government National Mortgage Assn. Pool #MA7827 2.50% 1/20/2052 <sup>(h)</sup>  | 135 | 116 |
| Government National Mortgage Assn. Pool #MA7881 2.50% 2/20/2052 <sup>(h)</sup>  | 19119 | 16499 |
| Government National Mortgage Assn. Pool #MA7936 2.50% 3/20/2052 <sup>(h)</sup>  | 4642 | 4001 |
| Government National Mortgage Assn. Pool #MA7937 3.00% 3/20/2052 <sup>(h)</sup>  | 17487 | 15628 |
| Government National Mortgage Assn. Pool #MA7987 2.50% 4/20/2052 <sup>(h)</sup>  | 750 | 647 |
| Government National Mortgage Assn. Pool #MA7988 3.00% 4/20/2052 <sup>(h)</sup>  | 13286 | 11873 |
| Government National Mortgage Assn. Pool #MA8099 3.50% 6/20/2052 <sup>(h)</sup>  | 125 | 115 |
| Government National Mortgage Assn. Pool #MA8197 2.50% 8/20/2052 <sup>(h)</sup>  | 799 | 692 |
| Government National Mortgage Assn. Pool #MA8266 3.50% 9/20/2052 <sup>(h)</sup>  | 615 | 564 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052 <sup>(h)</sup>  | 9365 | 8891 |
| Government National Mortgage Assn. Pool #MA8425 3.50% 11/20/2052 <sup>(h)</sup>  | 29455 | 26975 |
| Government National Mortgage Assn. Pool #MA8485 2.50% 12/20/2052 <sup>(h)</sup>  | 2103 | 1815 |
| Government National Mortgage Assn. Pool #MA8642 2.50% 2/20/2053 <sup>(h)</sup>  | 1792 | 1559 |
| Government National Mortgage Assn. Pool #MA9015 4.50% 7/20/2053 <sup>(h)</sup>  | 2868 | 2795 |
| Government National Mortgage Assn. Pool #MA9104 4.50% 8/20/2053 <sup>(h)</sup>  | 24210 | 23563 |
| Government National Mortgage Assn. Pool #MA9776 4.00% 7/20/2054 <sup>(h)</sup>  | 5079 | 4805 |
| Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/2063 <sup>(h)</sup>  | 2012 | 1499 |
| Uniform Mortgage-Backed Security 2.50% 10/1/2055 <sup>(h)(j)</sup>  | 85400 | 71962 |
| Uniform Mortgage-Backed Security 3.50% 10/1/2055 <sup>(h)(j)</sup>  | 78738 | 71947 |
| Uniform Mortgage-Backed Security 4.00% 10/1/2055 <sup>(h)(j)</sup>  | 30483 | 28733 |
| Uniform Mortgage-Backed Security 4.50% 10/1/2055 <sup>(h)(j)</sup>  | 4947 | 4799 |
| Uniform Mortgage-Backed Security 5.50% 10/1/2055 <sup>(h)(j)</sup>  | 4770 | 4810 |
| Uniform Mortgage-Backed Security 6.00% 10/1/2055 <sup>(h)(j)</sup>  | 67458 | 68925 |
| Uniform Mortgage-Backed Security 6.50% 10/1/2055 <sup>(h)(j)</sup>  | 68549 | 70848 |
| Uniform Mortgage-Backed Security 2.50% 11/1/2055 <sup>(h)(j)</sup>  | 16220 | 13671 |
| Uniform Mortgage-Backed Security 3.50% 11/1/2055 <sup>(h)(j)</sup>  | 63317 | 57839 |
| Uniform Mortgage-Backed Security 5.50% 11/1/2055 <sup>(h)(j)</sup>  | 2192 | 2209 |
| Uniform Mortgage-Backed Security 6.00% 11/1/2055 <sup>(h)(j)</sup>  | 106146 | 108425 |
| Uniform Mortgage-Backed Security 6.50% 11/1/2055 <sup>(h)(j)</sup>  | 72189 | 74653 |
|  |  | 2767553 |

---

American Funds Insurance Series — Page 120 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Commercial mortgage-backed securities 0.85%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Bank Commercial Mortgage Trust, Series 2022-BNK43, Class A5, 4.399% 8/15/2055 <sup>(h)</sup>  | USD1,400 | $1374 |
| Bank Commercial Mortgage Trust, Series 2023-BNK45, Class A5, 5.203% 2/15/2056 <sup>(h)</sup>  | 645 | 662 |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class A3, 6.50% 12/15/2056 <sup>(h)</sup>  | 5368 | 5665 |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class AS, 7.274% 12/15/2056 <sup>(h)(i)</sup>  | 857 | 917 |
| Bank Commercial Mortgage Trust, Series 2024-5YR9, Class A3, 5.614% 8/15/2057 <sup>(h)</sup>  | 4615 | 4807 |
| Bank Commercial Mortgage Trust, Series 2024-5YR8, Class A3, 5.884% 8/15/2057 <sup>(h)</sup>  | 1380 | 1449 |
| Bank Commercial Mortgage Trust, Series 2024-5YR12, Class A3, 5.902% 12/15/2057 <sup>(h)(i)</sup>  | 4062 | 4280 |
| Bank Commercial Mortgage Trust, Series 2024-5YR12, Class AS, 6.122% 12/15/2057 <sup>(h)(i)</sup>  | 1914 | 1998 |
| Bank Commercial Mortgage Trust, Series 2020-BN26, Class A4, 2.403% 3/15/2063 <sup>(h)</sup>  | 2909 | 2654 |
| Barclays Commercial Mortgage Securities, LLC, Series 2022-C16, Class A5, 4.60% 6/15/2055 <sup>(h)(i)</sup>  | 490 | 486 |
| Barclays Commercial Mortgage Securities, LLC, Series 2023-C19, Class A5, 5.451% 4/15/2056 <sup>(h)</sup>  | 3006 | 3136 |
| Barclays Commercial Mortgage Securities, LLC, Series 2023-C21, Class A5, 6.00% 9/15/2056 <sup>(h)(i)</sup>  | 1792 | 1931 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-5C31, Class AS, 5.852% 12/15/2057 <sup>(h)</sup>  | 1828 | 1892 |
| Benchmark Mortgage Trust, Series 2018-B2, Class A4, 3.615% 2/15/2051 <sup>(h)</sup>  | 1000 | 987 |
| Benchmark Mortgage Trust, Series 2020-B17, Class A5, 2.289% 3/15/2053 <sup>(h)</sup>  | 2960 | 2659 |
| Benchmark Mortgage Trust, Series 2018-B7, Class A4, 4.51% 5/15/2053 <sup>(h)(i)</sup>  | 750 | 752 |
| Benchmark Mortgage Trust, Series 2024-V9, Class A3, 5.602% 8/15/2057 <sup>(h)</sup>  | 2112 | 2195 |
| Benchmark Mortgage Trust, Series 2024-V9, Class AS, 6.064% 8/15/2057 <sup>(h)(i)</sup>  | 590 | 615 |
| Benchmark Mortgage Trust, Series 2024-V10, Class A3, 5.277% 9/15/2057 <sup>(h)</sup>  | 618 | 637 |
| BMO Mortgage Trust, Series 2022-C2, Class A5, 4.974% 7/15/2054 <sup>(h)(i)</sup>  | 1750 | 1772 |
| BMO Mortgage Trust, Series 2023-C5, Class A5, 5.765% 6/15/2056 <sup>(h)</sup>  | 1117 | 1179 |
| BMO Mortgage Trust, Series 2024-5C8, Class A3, 5.625% 12/15/2057 <sup>(h)(i)</sup>  | 6990 | 7290 |
| BMO Mortgage Trust, Series 2024-5C8, Class AS, 5.94% 12/15/2057 <sup>(h)(i)</sup>  | 1450 | 1509 |
| BMO Mortgage Trust, Series 2025-5C9, Class A3, 5.779% 4/15/2058 <sup>(h)</sup>  | 3334 | 3500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 4.965% <br> 9/15/2036 <sup>(f)(h)(i)</sup>  | 4365 | 4352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, Series 2021-SOAR, Class A, (1-month USD CME Term SOFR + 0.784%) 4.935% <br> 6/15/2038 <sup>(f)(h)(i)</sup>  | 3970 | 3968 |
| BX Trust, Series 2021-SDMF, Class A, (1-month USD CME Term SOFR + 0.703%) 4.854% 9/15/2034 <sup>(f)(h)(i)</sup>  | 5525 | 5514 |
| BX Trust, Series 2021-ARIA, Class A, (1-month USD CME Term SOFR + 1.014%) 5.164% 10/15/2036 <sup>(f)(h)(i)</sup>  | 7968 | 7963 |
| BX Trust, Series 2021-ARIA, Class B, (1-month USD CME Term SOFR + 1.411%) 5.562% 10/15/2036 <sup>(f)(h)(i)</sup>  | 5348 | 5347 |
| BX Trust, Series 2021-SOAR, Class B, (1-month USD CME Term SOFR + 0.984%) 5.135% 6/15/2038 <sup>(f)(h)(i)</sup>  | 1070 | 1069 |
| BX Trust, Series 2021-SOAR, Class C, (1-month USD CME Term SOFR + 1.214%) 5.365% 6/15/2038 <sup>(f)(h)(i)</sup>  | 965 | 965 |
| BX Trust, Series 2021-ACNT, Class A, (1-month USD CME Term SOFR + 0.964%) 5.115% 11/15/2038 <sup>(f)(h)(i)</sup>  | 4099 | 4098 |
| BX Trust, Series 2022-AHP, Class A, (1-month USD CME Term SOFR + 0.99%) 5.14% 1/17/2039 <sup>(f)(h)(i)</sup>  | 6334 | 6332 |
| BX Trust, Series 2024-AIRC, Class A, (1-month USD CME Term SOFR + 1.691%) 5.842% 8/15/2039 <sup>(f)(h)(i)</sup>  | 7395 | 7419 |
| BX Trust, Series 2024-CNYN, Class A, (1-month USD CME Term SOFR + 1.442%) 5.592% 4/15/2041 <sup>(f)(h)(i)</sup>  | 4275 | 4290 |
| BX Trust, Series 2024-BIO2, Class A, 5.594% 8/13/2041 <sup>(f)(h)(i)</sup>  | 11410 | 11612 |
| CALI Mortgage Trust, Series 24-SUN, Class A, (1-month USD CME Term SOFR + 1.89%) 6.041% 7/15/2041 <sup>(f)(h)(i)</sup>  | 1153 | 1157 |
| CALI Mortgage Trust, Series 24-SUN, Class B, (1-month USD CME Term SOFR + 2.34%) 6.491% 7/15/2041 <sup>(f)(h)(i)</sup>  | 1414 | 1421 |
| CART, Series 2024-DFW1, Class A, (1-month USD CME Term SOFR + 1.642%) 5.792% 8/15/2041 <sup>(f)(h)(i)</sup>  | 5162 | 5165 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(f)(h)(i)</sup>  | 3606 | 3719 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class A, 6.314% 9/12/2040 <sup>(f)(h)</sup>  | 3677 | 3811 |
| Durst Commercial Mortgage Trust, Series 2025-151, Class A, 5.145% 8/10/2042 <sup>(f)(h)(i)</sup>  | 5942 | 6059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extended Stay America Trust, Series 2021-ESH, Class A, (1-month USD CME Term SOFR + 1.194%) 5.345% <br> 7/15/2038 <sup>(f)(h)(i)</sup>  | 1327 | 1328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extended Stay America Trust, Series 2021-ESH, Class B, (1-month USD CME Term SOFR + 1.494%) 5.645% <br> 7/15/2038 <sup>(f)(h)(i)</sup>  | 1086 | 1087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extended Stay America Trust, Series 2021-ESH, Class C, (1-month USD CME Term SOFR + 1.814%) 5.965% <br> 7/15/2038 <sup>(f)(h)(i)</sup>  | 1134 | 1136 |
| FirstKey Homes Trust, Series 2020-SFR2, Class A, 1.266% 10/19/2037 <sup>(f)(h)</sup>  | 4554 | 4533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class A, (1-month USD CME Term SOFR + 1.45%) 5.60% <br> 12/15/2039 <sup>(f)(h)(i)</sup>  | 2748 | 2753 |
| Grace Mortgage Trust, Series 2020-GRCE, Class A, 2.347% 12/10/2040 <sup>(f)(h)</sup>  | 3795 | 3376 |

---

American Funds Insurance Series — Page 121 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Commercial mortgage-backed securities (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Great Wolf Trust, Series 2024-WLF2, Class A, (1-month USD CME Term SOFR + 1.691%) 5.841% 5/15/2041 <sup>(f)(h)(i)</sup>  | USD8,302 | $8329 |
| GS Mortgage Securities Trust, Series 2023-SHIP, Class B, 4.936% 9/10/2038 <sup>(f)(h)(i)</sup>  | 1214 | 1215 |
| GS Mortgage Securities Trust, Series 2020-GC47, Class A5, 2.377% 5/12/2053 <sup>(h)</sup>  | 2489 | 2280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hawaii Hotel Trust, Series 2025-MAUI, Class A, (1-month USD CME Term SOFR + 1.393%) 5.543% <br>3/15/2042 <sup>(f)(h)(i)</sup>  | 2059 | 2063 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.644% 2/5/2045 <sup>(f)(h)(i)</sup>  | 5246 | 5434 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.649% 1/13/2040 <sup>(f)(h)(i)</sup>  | 10151 | 10500 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class A, 3.024% 1/5/2039 <sup>(f)(h)</sup>  | 1522 | 1372 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.377% 1/5/2039 <sup>(f)(h)</sup>  | 578 | 510 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.565% 1/5/2039 <sup>(f)(h)(i)</sup>  | 100 | 84 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JW Commercial Mortgage Trust 2024-MRCO, Series 2024-BERY, Class A, (1-month USD CME Term SOFR + <br> 1.593%) 5.743% 11/15/2039 <sup>(f)(h)(i)</sup>  | 1960 | 1966 |
| Manhattan West Mortgage Trust, Series 2020-1MW, Class A, 2.13% 9/10/2039 <sup>(f)(h)</sup>  | 13772 | 13132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MHC Commercial Mortgage Trust, CMO, Series 2021-MHC, Class A, (1-month USD CME Term SOFR + 0.915%) <br> 5.066% 4/15/2038 <sup>(f)(h)(i)</sup>  | 487 | 488 |
| Morgan Stanley Capital I Trust, Series 2022-L8, Class A5, 3.792% 4/15/2055 <sup>(h)(i)</sup>  | 370 | 348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multifamily Connecticut Avenue Securities, Series 2025-01, Class M1, (30-day Average USD-SOFR + 2.40%) <br> 6.756% 5/25/2055 <sup>(f)(h)(i)</sup>  | 577 | 581 |
| SCG Hotel Issuer, Inc, Series 2025-SNIP, Class A, 5.75% 9/15/2030 <sup>(f)(h)(i)</sup>  | 1543 | 1550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A, (1-month USD CME Term SOFR + 1.392%) 5.542% <br> 5/15/2039 <sup>(f)(h)(i)</sup>  | 3964 | 3959 |
| SLG Office Trust, Series 2021-OVA, Class A, 2.585% 7/15/2041 <sup>(f)(h)</sup>  | 2194 | 1953 |
| SREIT Trust, Series 2021-MFP, Class A, (1-month USD CME Term SOFR + 0.845%) 4.995% 11/15/2038 <sup>(f)(h)(i)</sup>  | 4033 | 4030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class A, (1-month USD CME Term SOFR + 1.00%) <br> 5.15% 1/15/2039 <sup>(f)(h)(i)</sup>  | 10709 | 10699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, (1-month USD CME Term SOFR + 1.443%) <br> 5.593% 2/15/2042 <sup>(f)(h)(i)</sup>  | 9322 | 9287 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-1918, Class A, 5.575% 9/15/2040 <sup>(f)(h)(i)</sup>  | 345 | 348 |
| Wells Fargo Commercial Mortgage Trust, Series 2022-C62, Class A4, 4.00% 4/15/2055 <sup>(h)(i)</sup>  | 1620 | 1552 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C1, Class AS, 6.52% 7/15/2057 <sup>(h)</sup>  | 430 | 452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WMRK Commercial Mortgage Trust, Series 2022-WMRK, Class A, (1-month USD CME Term SOFR + 2.789%) <br> 6.939% 11/15/2027 <sup>(f)(h)(i)</sup>  | 5716 | 5742 |
|  |  | 240694 |
| **Collateralized mortgage-backed obligations (privately originated) 0.25%** |  |  |
| Angel Oak Mortgage Trust, Series 2024-7, Class A1, 5.621% 5/25/2069 (6.621% on 7/1/2028) <sup>(f)(h)(k)</sup>  | 5895 | 5938 |
| Arroyo Mortgage Trust, Series 2021-1R, Class A1, 1.175% 10/25/2048 <sup>(f)(h)(i)</sup>  | 606 | 549 |
| BRAVO Residential Funding Trust, Series 2025-NQM5, Class A1, 5.496% 2/25/2065 (6.496% on 5/1/2027) <sup>(f)(h)(k)</sup>  | 515 | 519 |
| Cascade Funding Mortgage Trust, Series 2024-RM5, Class A, 4.00% 10/25/2054 <sup>(f)(h)(i)</sup>  | 5486 | 5393 |
| CIM Trust, Series 2025-R1, Class A1, 5.00% 2/25/2099 (8.00% on 3/1/2028) <sup>(f)(h)(k)</sup>  | 1529 | 1522 |
| COLT Funding, LLC, Series 2024-INV3, Class A1, 5.443% 9/25/2069 (6.443% on 8/1/2028) <sup>(f)(h)(k)</sup>  | 2606 | 2623 |
| CS First Boston Mortgage Securities Corp., Series 2004-5, Class IVA1, 6.00% 9/25/2034 <sup>(h)</sup>  | 108 | 110 |
| Finance of America Structured Securities Trust, Series 2025-PC1, Class A1, 4.50% 5/25/2075 <sup>(f)(h)</sup>  | 6511 | 6297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average <br> USD-SOFR + 2.15%) 6.506% 9/25/2042 <sup>(f)(h)(i)</sup>  | 241 | 243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.25%) 5.606% 5/25/2044 <sup>(f)(h)(i)</sup>  | 3536 | 3555 |
| Home Partners of America Trust, Series 2021-2, Class A, 1.901% 12/17/2026 <sup>(f)(h)</sup>  | 3552 | 3451 |
| IRV Trust, Series 2025-200P, Class A, 5.471% 3/14/2047 <sup>(f)(h)(i)</sup>  | 6890 | 7056 |
| MASTR Alternative Loan Trust, Series 2004-2, Class 2A1, 6.00% 2/25/2034 <sup>(h)</sup>  | 205 | 207 |
| MFRA Trust, Series 2025-NQM3, Class A1, 5.261% 8/25/2070 (6.261% on 7/1/2029) <sup>(f)(h)(k)</sup>  | 1987 | 1995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Residential Mortgage Loan Trust, Series 2024-NQM2, Class A1, 6.386% 5/25/2069 (7.386% on <br> 5/1/2028) <sup>(f)(h)(k)</sup>  | 2305 | 2337 |

---

American Funds Insurance Series — Page 122 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Collateralized mortgage-backed obligations (privately originated) (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Onslow Bay Financial Mortgage Loan Trust, Series 2025-NQM8, Class A1, 5.472% 3/25/2065 (6.472% on <br> 5/1/2029) <sup>(f)(h)(k)</sup>  | USD634 | $640 |
| Onslow Bay Financial, LLC, Series 2022-NQM6, Class A1, 4.70% 7/25/2062 (5.70% on 6/1/2026) <sup>(f)(h)(k)</sup>  | 4410 | 4407 |
| Onslow Bay Financial, LLC, Series 2025-NQM14, Class A1A, 5.162% 7/25/2065 (6.162% on 7/1/2029) <sup>(f)(h)(k)</sup>  | 1965 | 1983 |
| Progress Residential Trust, Series 2021-SFR6, Class A, 1.524% 7/17/2038 <sup>(f)(h)</sup>  | 2443 | 2405 |
| Progress Residential Trust, Series 2025-SFR3, Class A, 3.39% 7/17/2042 <sup>(f)(h)</sup>  | 2635 | 2499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust, Series 2024-SFR4, Class A, (1-month USD CME Term SOFR + 1.75%) 5.90% <br> 10/17/2041 <sup>(f)(h)(i)</sup>  | 4921 | 4941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust, Series 2025-SFR5, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.601% 2/17/2042 <sup>(f)(h)(i)</sup>  | 674 | 676 |
| Towd Point Mortgage Trust, Series 2023-1, Class A1, 3.75% 1/25/2063 <sup>(f)(h)</sup>  | 2390 | 2321 |
| Verus Securitization Trust, Series 2025-R1, Class A1, 5.402% 5/25/2065 (6.402% on 7/1/2029) <sup>(f)(h)(k)</sup>  | 1094 | 1104 |
| Verus Securitization Trust, Series 2023-5, Class A5, 6.476% 6/25/2068 (7.476% on 6/1/2027) <sup>(f)(h)(k)</sup>  | 1764 | 1777 |
| Verus Securitization Trust, Series 2024-R1, Class A1, 5.218% 9/25/2069 (6.218% on 10/1/2028) <sup>(f)(h)(k)</sup>  | 1835 | 1837 |
| Verus Securitization Trust, Series 2025-5, Class A1, 5.427% 6/25/2070 (6.427% on 6/1/2029) <sup>(f)(h)(k)</sup>  | 1174 | 1184 |
| Verus Securitization Trust, Series 2025-7, Class A1, 5.129% 8/25/2070 (6.129% on 8/1/2029) <sup>(f)(h)(k)</sup>  | 504 | 507 |
| Verus Securitization Trust, Series 2025-8, Class A1A, 4.869% 9/25/2070 (5.869% on 9/1/2029) <sup>(f)(h)(k)</sup>  | 2603 | 2602 |
|  |  | 70678 |
| **Total mortgage-backed obligations** |  | 3078925 |
| **U.S. Treasury bonds & notes 8.16%**<br> **U.S. Treasury 8.10%**<br>|  |  |
| U.S. Treasury 5.00% 10/31/2025  | 2167 | 2169 |
| U.S. Treasury 4.875% 11/30/2025  | 12250 | 12265 |
| U.S. Treasury 0.50% 2/28/2026  | 42515 | 41932 |
| U.S. Treasury 4.625% 2/28/2026  | 1878 | 1884 |
| U.S. Treasury 3.625% 5/15/2026  | 1071 | 1070 |
| U.S. Treasury 4.625% 6/30/2026  | 17210 | 17315 |
| U.S. Treasury 4.125% 2/15/2027  | 1258 | 1265 |
| U.S. Treasury 2.625% 5/31/2027  | 96250 | 94663 |
| U.S. Treasury 0.50% 6/30/2027  | 28098 | 26622 |
| U.S. Treasury 3.75% 6/30/2027  | 18100 | 18135 |
| U.S. Treasury 3.50% 9/30/2027  | 290367 | 289766 |
| U.S. Treasury 4.125% 9/30/2027  | 90000 | 90879 |
| U.S. Treasury 4.00% 2/29/2028  | 46200 | 46612 |
| U.S. Treasury 3.625% 3/31/2028  | 9 | 9 |
| U.S. Treasury 3.50% 4/30/2028  | 5600 | 5584 |
| U.S. Treasury 3.375% 9/15/2028  | 22721 | 22566 |
| U.S. Treasury 4.00% 1/31/2029  | 8844 | 8941 |
| U.S. Treasury 2.875% 4/30/2029  | 50000 | 48682 |
| U.S. Treasury 4.25% 6/30/2029  | 28885 | 29462 |
| U.S. Treasury 4.00% 3/31/2030  | 83865 | 84835 |
| U.S. Treasury 0.625% 5/15/2030  | 9358 | 8135 |
| U.S. Treasury 3.875% 6/30/2030  | 21920 | 22056 |
| U.S. Treasury 4.00% 7/31/2030  | 8160 | 8252 |
| U.S. Treasury 3.625% 9/30/2030  | 388767 | 386808 |
| U.S. Treasury 4.875% 10/31/2030  | 45491 | 47826 |
| U.S. Treasury 4.25% 6/30/2031  | 17165 | 17544 |
| U.S. Treasury 2.875% 5/15/2032  | 50000 | 47011 |
| U.S. Treasury 4.00% 6/30/2032  | 17325 | 17418 |
| U.S. Treasury 3.875% 9/30/2032  | 111498 | 111141 |
| U.S. Treasury 4.125% 11/15/2032  | 648 | 656 |
| U.S. Treasury 3.50% 2/15/2033  | 27034 | 26250 |

---

American Funds Insurance Series — Page 123 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. Treasury bonds & notes (continued)**<br> **U.S. Treasury (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| U.S. Treasury 3.875% 8/15/2033  | USD114,911 | $113979 |
| U.S. Treasury 4.375% 5/15/2034  | 14285 | 14617 |
| U.S. Treasury 4.25% 11/15/2034  | 2075 | 2099 |
| U.S. Treasury 4.25% 8/15/2035  | 140223 | 141351 |
| U.S. Treasury 1.375% 11/15/2040  | 51338 | 33514 |
| U.S. Treasury 1.75% 8/15/2041  | 24960 | 16943 |
| U.S. Treasury 2.00% 11/15/2041  | 1058 | 743 |
| U.S. Treasury 4.625% 5/15/2044  | 14927 | 14821 |
| U.S. Treasury 5.00% 5/15/2045  | 3325 | 3453 |
| U.S. Treasury 4.875% 8/15/2045  | 114801 | 117348 |
| U.S. Treasury 2.50% 2/15/2046  | 3365 | 2375 |
| U.S. Treasury 3.00% 5/15/2047  | 8383 | 6384 |
| U.S. Treasury 3.00% 2/15/2048  | 301 | 227 |
| U.S. Treasury 2.25% 2/15/2052 <sup>(l)</sup>  | 72025 | 44678 |
| U.S. Treasury 4.00% 11/15/2052  | 5700 | 5042 |
| U.S. Treasury 3.625% 2/15/2053 <sup>(l)</sup>  | 121025 | 100062 |
| U.S. Treasury 3.625% 5/15/2053  | 18989 | 15685 |
| U.S. Treasury 4.25% 2/15/2054  | 17191 | 15867 |
| U.S. Treasury 4.25% 8/15/2054  | 37315 | 34461 |
| U.S. Treasury 4.625% 2/15/2055  | 6175 | 6069 |
| U.S. Treasury 4.75% 5/15/2055  | 54315 | 54480 |
|  |  | 2281951 |
| **U.S. Treasury inflation-protected securities 0.06%** |  |  |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2025 <sup>(m)</sup>  | 3793 | 3792 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2030 <sup>(m)</sup>  | 12556 | 11991 |
|  |  | 15783 |
| **Total U.S. Treasury bonds & notes** |  | 2297734 |
| **Corporate bonds, notes & loans 7.21%**<br> **Financials 1.47%**<br>|  |  |
| AerCap Ireland Capital DAC 2.45% 10/29/2026  | 4890 | 4806 |
| Aero Capital Solutions, Inc., Term Loan, (1-month USD CME Term SOFR + 3.00%) 7.61% 11/17/2029 <sup>(c)(f)(i)(n)</sup>  | 4813 | 4777 |
| AG Issuer, LLC 6.25% 3/1/2028 <sup>(f)</sup>  | 4470 | 4482 |
| AIB Group PLC 7.583% 10/14/2026 (USD-SOFR + 3.456% on 10/14/2025) <sup>(f)(k)</sup>  | 4250 | 4254 |
| Alliant Holdings Intermediate, LLC 4.25% 10/15/2027 <sup>(f)</sup>  | 1940 | 1909 |
| Alliant Holdings Intermediate, LLC 5.875% 11/1/2029 <sup>(f)</sup>  | 2295 | 2292 |
| Ally Financial, Inc. 8.00% 11/1/2031  | 2688 | 3060 |
| American Express Co. 6.338% 10/30/2026 (USD-SOFR + 1.33% on 10/30/2025) <sup>(k)</sup>  | 4810 | 4818 |
| American Express Co. 6.489% 10/30/2031 (USD-SOFR + 1.94% on 10/30/2030) <sup>(k)</sup>  | 2407 | 2639 |
| American Express Co. 5.442% 1/30/2036 (USD-SOFR + 1.32% on 1/30/2035) <sup>(k)</sup>  | 2885 | 3002 |
| American International Group, Inc. 5.125% 3/27/2033  | 2187 | 2251 |
| American International Group, Inc. 5.45% 5/7/2035  | 530 | 552 |
| AmWINS Group, Inc. 4.875% 6/30/2029 <sup>(f)</sup>  | 1348 | 1311 |
| Aon North America, Inc. 5.45% 3/1/2034  | 600 | 625 |
| Ardonagh Group Finance, Ltd. 8.875% 2/15/2032 <sup>(f)</sup>  | 2415 | 2541 |
| Aretec Group, Inc. 7.50% 4/1/2029 <sup>(f)</sup>  | 1250 | 1257 |
| Arthur J. Gallagher & Co. 5.15% 2/15/2035  | 3194 | 3234 |
| Arthur J. Gallagher & Co. 5.55% 2/15/2055  | 779 | 762 |
| Athene Holding, Ltd. 6.625% 5/19/2055  | 770 | 825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bangkok Bank Public Co., Ltd. 3.733% 9/25/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.90% <br> on 9/25/2029) <sup>(k)</sup>  | 2176 | 2061 |
| Bank of America Corp. 2.087% 6/14/2029 (USD-SOFR + 1.06% on 6/14/2028) <sup>(k)</sup>  | 485 | 459 |

---

American Funds Insurance Series — Page 124 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Financials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Bank of America Corp. 5.819% 9/15/2029 (USD-SOFR + 1.57% on 9/15/2028) <sup>(k)</sup>  | USD5,533 | $5787 |
| Bank of America Corp. 1.922% 10/24/2031 (USD-SOFR + 1.37% on 10/24/2030) <sup>(k)</sup>  | 1000 | 888 |
| Bank of America Corp. 5.288% 4/25/2034 (USD-SOFR + 1.91% on 4/25/2033) <sup>(k)</sup>  | 4064 | 4206 |
| Bank of Montreal 4.35% 9/22/2031 (USD-SOFR + 0.75% on 9/22/2030) <sup>(k)</sup>  | 507 | 505 |
| Bank of New York Mellon Corp. 4.975% 3/14/2030 (USD-SOFR + 1.085% on 3/14/2029) <sup>(k)</sup>  | 361 | 371 |
| Bank of New York Mellon Corp. 5.225% 11/20/2035 (USD-SOFR + 1.253% on 11/20/2034) <sup>(k)</sup>  | 326 | 337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(f)(k)</sup>  | 2220 | 2341 |
| Berkshire Hathaway, Inc. 3.125% 3/15/2026  | 448 | 446 |
| Blackstone Private Credit Fund 6.00% 11/22/2034  | 2020 | 2070 |
| Block, Inc. 5.625% 8/15/2030 <sup>(f)</sup>  | 2110 | 2139 |
| Block, Inc. 3.50% 6/1/2031  | 2325 | 2166 |
| Blue Owl Credit Income Corp. 4.70% 2/8/2027  | 1230 | 1228 |
| Blue Owl Credit Income Corp. 6.65% 3/15/2031  | 800 | 841 |
| BNP Paribas SA 2.159% 9/15/2029 (USD-SOFR + 1.218% on 9/15/2028) <sup>(f)(k)</sup>  | 2535 | 2378 |
| Boost Newco Borrower, LLC 7.50% 1/15/2031 <sup>(f)</sup>  | 1150 | 1221 |
| BPCE SA 5.876% 1/14/2031 (USD-SOFR + 1.68% on 1/14/2030) <sup>(f)(k)</sup>  | 8155 | 8519 |
| BPCE SA 5.389% 5/28/2031 (USD-SOFR + 1.581% on 5/28/2030) <sup>(f)(k)</sup>  | 3015 | 3095 |
| BPCE SA 6.293% 1/14/2036 (USD-SOFR + 2.04% on 1/14/2035) <sup>(f)(k)</sup>  | 7045 | 7543 |
| Brown & Brown, Inc. 4.60% 12/23/2026  | 1250 | 1257 |
| Brown & Brown, Inc. 5.25% 6/23/2032  | 358 | 367 |
| Brown & Brown, Inc. 5.55% 6/23/2035  | 7665 | 7891 |
| Brown & Brown, Inc. 6.25% 6/23/2055  | 5952 | 6268 |
| CaixaBank SA 6.208% 1/18/2029 (USD-SOFR + 2.70% on 1/18/2028) <sup>(f)(k)</sup>  | 938 | 976 |
| CaixaBank SA 5.673% 3/15/2030 (USD-SOFR + 1.78% on 3/15/2029) <sup>(f)(k)</sup>  | 4764 | 4943 |
| CaixaBank SA 4.885% 7/3/2031 (USD-SOFR + 1.36% on 7/3/2030) <sup>(f)(k)</sup>  | 5200 | 5255 |
| CaixaBank SA 5.581% 7/3/2036 (USD-SOFR + 1.79% on 7/3/2035) <sup>(f)(k)</sup>  | 602 | 617 |
| Chubb INA Holdings, LLC 3.35% 5/3/2026  | 880 | 876 |
| Chubb INA Holdings, LLC 5.00% 3/15/2034  | 4623 | 4743 |
| Chubb INA Holdings, LLC 4.90% 8/15/2035  | 600 | 604 |
| Chubb INA Holdings, LLC 4.35% 11/3/2045  | 400 | 353 |
| Citibank, NA 4.914% 5/29/2030  | 4825 | 4959 |
| Citigroup, Inc. 4.786% 3/4/2029 (USD-SOFR + 0.87% on 3/4/2028) <sup>(k)</sup>  | 7250 | 7345 |
| Citigroup, Inc. 5.174% 2/13/2030 (USD-SOFR + 1.364% on 2/13/2029) <sup>(k)</sup>  | 2242 | 2300 |
| Citigroup, Inc. 4.542% 9/19/2030 (USD-SOFR + 1.338% on 9/19/2029) <sup>(k)</sup>  | 4750 | 4774 |
| Citigroup, Inc. 2.572% 6/3/2031 (USD-SOFR + 2.107% on 6/3/2030) <sup>(k)</sup>  | 53 | 49 |
| Citigroup, Inc. 4.503% 9/11/2031 (USD-SOFR + 1.171% on 9/11/2030) <sup>(k)</sup>  | 400 | 400 |
| Citigroup, Inc. 2.52% 11/3/2032 (USD-SOFR + 1.177% on 11/3/2031) <sup>(k)</sup>  | 2506 | 2227 |
| Citigroup, Inc. 6.02% 1/24/2036 (USD-SOFR + 1.83% on 1/24/2035) <sup>(k)</sup>  | 1299 | 1361 |
| Citigroup, Inc. 5.333% 3/27/2036 (USD-SOFR + 1.465% on 3/27/2035) <sup>(k)</sup>  | 1771 | 1811 |
| CME Group, Inc. 3.75% 6/15/2028  | 3069 | 3062 |
| Coinbase Global, Inc. 3.375% 10/1/2028 <sup>(f)</sup>  | 6514 | 6188 |
| Coinbase Global, Inc. 3.625% 10/1/2031 <sup>(f)</sup>  | 5766 | 5150 |
| Corebridge Financial, Inc. 3.65% 4/5/2027  | 914 | 907 |
| Corebridge Financial, Inc. 3.85% 4/5/2029  | 556 | 548 |
| Corebridge Financial, Inc. 3.90% 4/5/2032  | 315 | 301 |
| Corebridge Financial, Inc. 4.35% 4/5/2042  | 182 | 157 |
| Corebridge Financial, Inc. 4.40% 4/5/2052  | 438 | 363 |
| Denali Intermediate Holdings, Inc., Term Loan, (1-month CME Term SOFR + 5.50%) 9.666% 8/26/2032 <sup>(c)(i)(n)</sup>  | 2036 | 2036 |
| Deutsche Bank AG 2.552% 1/7/2028 (USD-SOFR + 1.318% on 1/7/2027) <sup>(k)</sup>  | 6650 | 6505 |
| Deutsche Bank AG 5.706% 2/8/2028 (USD-SOFR + 1.594% on 2/8/2027) <sup>(k)</sup>  | 1109 | 1129 |
| Deutsche Bank AG 6.72% 1/18/2029 (USD-SOFR + 3.18% on 1/18/2028) <sup>(k)</sup>  | 2016 | 2118 |
| Deutsche Bank AG 6.819% 11/20/2029 (USD-SOFR + 2.51% on 11/20/2028) <sup>(k)</sup>  | 750 | 802 |
| Deutsche Bank AG 3.547% 9/18/2031 (USD-SOFR + 3.043% on 9/18/2030) <sup>(k)</sup>  | 300 | 284 |

---

American Funds Insurance Series — Page 125 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Financials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| DNB Bank ASA 5.896% 10/9/2026 (USD-SOFR + 1.95% on 10/9/2025) <sup>(f)(k)</sup>  | USD6,945 | $6947 |
| FS KKR Capital Corp. 6.125% 1/15/2031  | 2800 | 2775 |
| Goldman Sachs Group, Inc. 1.948% 10/21/2027 (USD-SOFR + 0.913% on 10/21/2026) <sup>(k)</sup>  | 1970 | 1924 |
| Goldman Sachs Group, Inc. 2.64% 2/24/2028 (USD-SOFR + 1.114% on 2/24/2027) <sup>(k)</sup>  | 3584 | 3509 |
| Goldman Sachs Group, Inc. 4.692% 10/23/2030 (USD-SOFR + 1.135% on 10/23/2029) <sup>(k)</sup>  | 8513 | 8624 |
| Goldman Sachs Group, Inc. 5.536% 1/28/2036 (USD-SOFR + 1.38% on 1/28/2035) <sup>(k)</sup>  | 1443 | 1507 |
| Goldman Sachs Group, Inc. 3.21% 4/22/2042 (USD-SOFR + 1.513% on 4/22/2041) <sup>(k)</sup>  | 1792 | 1386 |
| HSBC Holdings PLC 2.804% 5/24/2032 (USD-SOFR + 1.187% on 5/24/2031) <sup>(k)</sup>  | 937 | 850 |
| HSBC Holdings PLC 2.871% 11/22/2032 (USD-SOFR + 1.41% on 11/22/2031) <sup>(k)</sup>  | 873 | 787 |
| HSBC Holdings PLC 5.45% 3/3/2036 (USD-SOFR + 1.56% on 3/3/2035) <sup>(k)</sup>  | 15084 | 15572 |
| HSBC Holdings PLC 5.79% 5/13/2036 (USD-SOFR + 1.88% on 5/13/2035) <sup>(k)</sup>  | 809 | 854 |
| HSBC Holdings PLC 6.332% 3/9/2044 (USD-SOFR + 2.65% on 3/9/2043) <sup>(k)</sup>  | 537 | 591 |
| HUB International, Ltd. 7.375% 1/31/2032 <sup>(f)</sup>  | 690 | 719 |
| Intercontinental Exchange, Inc. 5.25% 6/15/2031  | 2020 | 2112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA 8.248% 11/21/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 4.40% on <br> 11/21/2032) <sup>(f)(k)</sup>  | 4122 | 4866 |
| ION Platform Finance US, Inc. 7.875% 9/30/2032 <sup>(f)</sup>  | 1485 | 1475 |
| Jane Street Group, LLC 6.75% 5/1/2033 <sup>(f)</sup>  | 3015 | 3134 |
| Jefferson Capital Holdings, LLC 8.25% 5/15/2030 <sup>(f)</sup>  | 1360 | 1423 |
| JPMorgan Chase & Co. 1.04% 2/4/2027 (USD-SOFR + 0.695% on 2/4/2026) <sup>(k)</sup>  | 2666 | 2637 |
| JPMorgan Chase & Co. 5.04% 1/23/2028 (USD-SOFR + 1.19% on 1/23/2027) <sup>(k)</sup>  | 1066 | 1078 |
| JPMorgan Chase & Co. 4.323% 4/26/2028 (USD-SOFR + 1.56% on 4/26/2027) <sup>(k)</sup>  | 1550 | 1554 |
| JPMorgan Chase & Co. 4.851% 7/25/2028 (USD-SOFR + 1.99% on 7/25/2027) <sup>(k)</sup>  | 3351 | 3396 |
| JPMorgan Chase & Co. 4.505% 10/22/2028 (USD-SOFR + 0.86% on 10/22/2027) <sup>(k)</sup>  | 3630 | 3662 |
| JPMorgan Chase & Co. 6.087% 10/23/2029 (USD-SOFR + 1.57% on 10/23/2028) <sup>(k)</sup>  | 4250 | 4486 |
| JPMorgan Chase & Co. 5.581% 4/22/2030 (USD-SOFR + 1.16% on 4/22/2029) <sup>(k)</sup>  | 927 | 969 |
| JPMorgan Chase & Co. 4.603% 10/22/2030 (USD-SOFR + 1.04% on 10/22/2029) <sup>(k)</sup>  | 4261 | 4312 |
| JPMorgan Chase & Co. 5.294% 7/22/2035 (USD-SOFR + 1.46% on 7/22/2034) <sup>(k)</sup>  | 1081 | 1117 |
| JPMorgan Chase & Co. 5.572% 4/22/2036 (USD-SOFR + 1.68% on 4/22/2035) <sup>(k)</sup>  | 4943 | 5213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(k)</sup>  | 1222 | 1198 |
| Marsh & McLennan Cos., Inc. 4.375% 3/15/2029  | 1705 | 1721 |
| Marsh & McLennan Cos., Inc. 4.85% 11/15/2031  | 7000 | 7166 |
| Marsh & McLennan Cos., Inc. 5.00% 3/15/2035  | 2250 | 2279 |
| Marsh & McLennan Cos., Inc. 4.90% 3/15/2049  | 719 | 662 |
| Marsh & McLennan Cos., Inc. 2.90% 12/15/2051  | 920 | 593 |
| Marsh & McLennan Cos., Inc. 5.40% 3/15/2055  | 2000 | 1963 |
| Mastercard, Inc. 4.35% 1/15/2032  | 551 | 554 |
| Mastercard, Inc. 4.85% 3/9/2033  | 258 | 265 |
| Metropolitan Life Global Funding I 5.15% 3/28/2033 <sup>(f)</sup>  | 1600 | 1659 |
| Morgan Stanley 3.125% 7/27/2026  | 325 | 323 |
| Morgan Stanley 6.138% 10/16/2026 (USD-SOFR + 1.77% on 10/16/2025) <sup>(k)</sup>  | 3400 | 3402 |
| Morgan Stanley 4.994% 4/12/2029 (USD-SOFR + 1.38% on 4/12/2028) <sup>(k)</sup>  | 2013 | 2053 |
| Morgan Stanley 5.164% 4/20/2029 (USD-SOFR + 1.59% on 4/20/2028) <sup>(k)</sup>  | 3995 | 4090 |
| Morgan Stanley 5.449% 7/20/2029 (USD-SOFR + 1.63% on 7/20/2028) <sup>(k)</sup>  | 1547 | 1599 |
| Morgan Stanley 5.042% 7/19/2030 (USD-SOFR + 1.215% on 7/19/2029) <sup>(k)</sup>  | 3584 | 3674 |
| Morgan Stanley 5.23% 1/15/2031 (USD-SOFR + 1.108% on 1/15/2030) <sup>(k)</sup>  | 1506 | 1555 |
| Morgan Stanley 2.699% 1/22/2031 (USD-SOFR + 1.143% on 1/22/2030) <sup>(k)</sup>  | 575 | 537 |
| Morgan Stanley 5.192% 4/17/2031 (USD-SOFR + 1.51% on 4/17/2030) <sup>(k)</sup>  | 410 | 423 |
| Morgan Stanley 5.516% 11/19/2055 (USD-SOFR + 1.71% on 11/19/2054) <sup>(k)</sup>  | 3136 | 3172 |
| Nationstar Mortgage Holdings, Inc. 7.125% 2/1/2032 <sup>(f)</sup>  | 1230 | 1287 |
| Navient Corp. 6.75% 6/15/2026  | 150 | 152 |
| Navient Corp. 5.50% 3/15/2029  | 11105 | 10895 |
| Navient Corp. 11.50% 3/15/2031  | 4860 | 5486 |

---

American Funds Insurance Series — Page 126 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Financials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Navient Corp. 7.875% 6/15/2032  | USD1,095 | $1154 |
| New York Life Global Funding 2.35% 7/14/2026 <sup>(f)</sup>  | 529 | 522 |
| New York Life Global Funding 4.55% 1/28/2033 <sup>(f)</sup>  | 1132 | 1131 |
| Northwestern Mutual Global Funding 1.75% 1/11/2027 <sup>(f)</sup>  | 2240 | 2180 |
| PayPal Holdings, Inc. 2.65% 10/1/2026  | 593 | 586 |
| PayPal Holdings, Inc. 2.30% 6/1/2030  | 552 | 508 |
| PennyMac Financial Services, Inc. 6.875% 2/15/2033 <sup>(f)</sup>  | 1375 | 1422 |
| Planet Financial Group, LLC 10.50% 12/15/2029 <sup>(f)</sup>  | 685 | 721 |
| PNC Bank, NA 4.543% 5/13/2027 (USD-SOFR + 0.63% on 5/13/2026) <sup>(k)</sup>  | 1720 | 1723 |
| PNC Bank, NA 5.373% 7/21/2036 (USD-SOFR + 1.417% on 7/21/2035) <sup>(k)</sup>  | 442 | 455 |
| PNC Financial Services Group, Inc. 5.575% 1/29/2036 (USD-SOFR + 1.394% on 1/29/2035) <sup>(k)</sup>  | 596 | 622 |
| Power Finance Corp., Ltd. 5.25% 8/10/2028  | 383 | 391 |
| Power Finance Corp., Ltd. 6.15% 12/6/2028  | 350 | 368 |
| Power Finance Corp., Ltd. 4.50% 6/18/2029  | 554 | 553 |
| Power Finance Corp., Ltd. 3.95% 4/23/2030  | 1213 | 1183 |
| Prudential Financial, Inc. 4.35% 2/25/2050  | 1976 | 1675 |
| Prudential Financial, Inc. 3.70% 3/13/2051  | 677 | 513 |
| Rocket Mortgage, LLC 2.875% 10/15/2026 <sup>(f)</sup>  | 2110 | 2068 |
| Rocket Mortgage, LLC 3.625% 3/1/2029 <sup>(f)</sup>  | 1505 | 1437 |
| Royal Bank of Canada 4.971% 5/2/2031 (USD-SOFR + 1.13% on 5/2/2030) <sup>(k)</sup>  | 4000 | 4098 |
| SLM Corp. 6.50% 1/31/2030  | 1460 | 1523 |
| Starwood Property Trust, Inc. 4.375% 1/15/2027 <sup>(f)</sup>  | 3580 | 3552 |
| Starwood Property Trust, Inc. 5.25% 10/15/2028 <sup>(f)</sup>  | 4650 | 4654 |
| Starwood Property Trust, Inc. 7.25% 4/1/2029 <sup>(f)</sup>  | 970 | 1020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swiss Re Finance (Luxembourg) SA 5.00% 4/2/2049 (5-year UST Yield Curve Rate T Note Constant Maturity + <br> 3.582% on 4/2/2029) <sup>(f)(k)</sup>  | 1000 | 1010 |
| Travelers Cos., Inc. 4.00% 5/30/2047  | 771 | 638 |
| Truist Bank 4.671% 5/20/2027 (USD-SOFR + 0.59% on 5/20/2026) <sup>(k)</sup>  | 2000 | 2005 |
| Truist Financial Corp. 7.161% 10/30/2029 (USD-SOFR + 2.446% on 10/30/2028) <sup>(k)</sup>  | 1677 | 1817 |
| Truist Financial Corp. 5.071% 5/20/2031 (USD-SOFR + 1.309% on 5/20/2030) <sup>(k)</sup>  | 506 | 519 |
| Truist Insurance Holdings, LLC, Term Loan, (3-month USD CME Term SOFR + 4.75%) 8.752% 5/6/2032 <sup>(i)(n)</sup>  | 2190 | 2234 |
| U.S. Bancorp 2.375% 7/22/2026  | 3584 | 3540 |
| U.S. Bancorp 5.424% 2/12/2036 (USD-SOFR + 1.411% on 2/12/2035) <sup>(k)</sup>  | 3808 | 3944 |
| UBS Group AG 3.869% 1/12/2029 (3-month USD CME Term SOFR + 1.672% on 1/12/2028) <sup>(f)(k)</sup>  | 800 | 793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG 5.428% 2/8/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.52% on <br>2/8/2029) <sup>(f)(k)</sup>  | 3575 | 3694 |
| UniCredit SpA 4.625% 4/12/2027 <sup>(f)</sup>  | 625 | 628 |
| Voyager Parent, LLC 9.25% 7/1/2032 <sup>(f)</sup>  | 5950 | 6296 |
| Wells Fargo & Co. 5.707% 4/22/2028 (USD-SOFR + 1.07% on 4/22/2027) <sup>(k)</sup>  | 6295 | 6443 |
| Wells Fargo & Co. 2.393% 6/2/2028 (USD-SOFR + 2.10% on 6/2/2027) <sup>(k)</sup>  | 358 | 348 |
| Wells Fargo & Co. 6.303% 10/23/2029 (USD-SOFR + 1.79% on 10/23/2028) <sup>(k)</sup>  | 6474 | 6858 |
| Wells Fargo & Co. 6.491% 10/23/2034 (USD-SOFR + 2.06% on 10/23/2033) <sup>(k)</sup>  | 3360 | 3734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Westpac Banking Corp. 2.668% 11/15/2035 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on <br> 11/15/2030) <sup>(k)</sup>  | 2980 | 2676 |
| Westpac Banking Corp. 2.963% 11/16/2040  | 1344 | 1030 |
| WEX, Inc. 6.50% 3/15/2033 <sup>(f)</sup>  | 1025 | 1048 |
|  |  | 414425 |
| **Communication services 0.88%** |  |  |
| Alphabet, Inc. 5.25% 5/15/2055  | 4821 | 4835 |
| Alphabet, Inc. 5.30% 5/15/2065  | 1876 | 1868 |
| AT&T, Inc. 2.25% 2/1/2032  | 800 | 701 |
| AT&T, Inc. 3.50% 9/15/2053  | 5140 | 3558 |
| CCO Holdings, LLC 4.75% 3/1/2030 <sup>(f)</sup>  | 1350 | 1296 |

---

American Funds Insurance Series — Page 127 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Communication services (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| CCO Holdings, LLC 4.50% 8/15/2030 <sup>(f)</sup>  | USD5,750 | $5434 |
| CCO Holdings, LLC 4.25% 2/1/2031 <sup>(f)</sup>  | 9361 | 8629 |
| CCO Holdings, LLC 4.75% 2/1/2032 <sup>(f)</sup>  | 3115 | 2883 |
| CCO Holdings, LLC 4.50% 5/1/2032  | 7189 | 6547 |
| CCO Holdings, LLC 4.50% 6/1/2033 <sup>(f)</sup>  | 2085 | 1855 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(f)</sup>  | 3260 | 2821 |
| Charter Communications Operating, LLC 4.40% 4/1/2033  | 1000 | 949 |
| Charter Communications Operating, LLC 4.80% 3/1/2050  | 4823 | 3822 |
| Charter Communications Operating, LLC 3.70% 4/1/2051  | 5493 | 3626 |
| Charter Communications Operating, LLC 3.90% 6/1/2052  | 11863 | 8040 |
| Charter Communications Operating, LLC 5.25% 4/1/2053  | 4965 | 4152 |
| Charter Communications Operating, LLC 6.70% 12/1/2055  | 1048 | 1061 |
| Comcast Corp. 2.35% 1/15/2027  | 3584 | 3514 |
| Comcast Corp. 4.80% 5/15/2033  | 2165 | 2188 |
| Connect Finco SARL 9.00% 9/15/2029 <sup>(f)</sup>  | 8125 | 8553 |
| CSC Holdings, LLC 5.50% 4/15/2027 <sup>(f)</sup>  | 1400 | 1330 |
| CSC Holdings, LLC, Term Loan B, (USD Prime Rate + 1.50%) 9.00% 4/15/2027 <sup>(i)(n)</sup>  | 970 | 940 |
| CSC Holdings, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.50%) 8.65% 1/18/2028 <sup>(i)(n)</sup>  | 2659 | 2649 |
| DIRECTV Financing, LLC 5.875% 8/15/2027 <sup>(f)</sup>  | 2352 | 2351 |
| DIRECTV Financing, LLC 8.875% 2/1/2030 <sup>(f)</sup>  | 2825 | 2794 |
| DISH Network Corp. 11.75% 11/15/2027 <sup>(f)</sup>  | 10154 | 10754 |
| EchoStar Corp. 10.75% 11/30/2029  | 6925 | 7624 |
| EchoStar Corp. 6.75% PIK 11/30/2030 <sup>(g)</sup>  | 3759 | 3878 |
| Embarq, LLC 7.995% 6/1/2036  | 8084 | 4047 |
| Frontier Communications Holdings, LLC 6.75% 5/1/2029 <sup>(f)</sup>  | 6550 | 6621 |
| Frontier Communications Holdings, LLC 5.875% 11/1/2029  | 5591 | 5655 |
| Frontier Communications Holdings, LLC 6.00% 1/15/2030 <sup>(f)</sup>  | 3196 | 3236 |
| Frontier Communications Holdings, LLC 8.75% 5/15/2030 <sup>(f)</sup>  | 1100 | 1150 |
| Gray Media, Inc. 10.50% 7/15/2029 <sup>(f)</sup>  | 7305 | 7905 |
| Gray Media, Inc. 4.75% 10/15/2030 <sup>(f)</sup>  | 1656 | 1273 |
| Gray Media, Inc. 5.375% 11/15/2031 <sup>(f)</sup>  | 4790 | 3602 |
| Gray Media, Inc. 9.625% 7/15/2032 <sup>(f)</sup>  | 495 | 506 |
| Gray Television, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.25%) 9.53% 6/4/2029 <sup>(i)(n)</sup>  | 22 | 22 |
| Ligado Networks, LLC, 17.50% PIK 11/1/2023 <sup>(f)(g)(o)</sup>  | 6915 | 2299 |
| Ligado Networks, LLC, Term Loan, 17.50% PIK 05/05/2028 <sup>(c)(g)(n)</sup>  | 2079 | 2080 |
| Lindblad Expeditions, LLC 7.00% 9/15/2030 <sup>(f)</sup>  | 815 | 831 |
| Meta Platforms, Inc. 5.40% 8/15/2054  | 7084 | 7004 |
| Nexstar Media, Inc. 5.625% 7/15/2027 <sup>(f)</sup>  | 1875 | 1874 |
| Nexstar Media, Inc. 4.75% 11/1/2028 <sup>(f)</sup>  | 2950 | 2882 |
| SBA Tower Trust 1.631% 11/15/2026 <sup>(f)</sup>  | 7802 | 7576 |
| Sinclair Television Group, Inc. 8.125% 2/15/2033 <sup>(f)</sup>  | 1375 | 1412 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(f)</sup>  | 6650 | 6431 |
| Sirius XM Radio, LLC 4.125% 7/1/2030 <sup>(f)</sup>  | 7282 | 6835 |
| Sirius XM Radio, LLC 3.875% 9/1/2031 <sup>(f)</sup>  | 7547 | 6844 |
| Take-Two Interactive Software, Inc. 4.00% 4/14/2032  | 2185 | 2106 |
| T-Mobile USA, Inc. 1.50% 2/15/2026  | 52 | 51 |
| T-Mobile USA, Inc. 2.05% 2/15/2028  | 325 | 310 |
| T-Mobile USA, Inc. 4.95% 3/15/2028  | 1918 | 1955 |
| T-Mobile USA, Inc. 4.80% 7/15/2028  | 4000 | 4074 |
| T-Mobile USA, Inc. 5.125% 5/15/2032  | 3623 | 3730 |
| T-Mobile USA, Inc. 5.30% 5/15/2035  | 4665 | 4780 |
| Univision Communications, Inc. 8.00% 8/15/2028 <sup>(f)</sup>  | 300 | 311 |
| Univision Communications, Inc. 4.50% 5/1/2029 <sup>(f)</sup>  | 6234 | 5885 |
| Univision Communications, Inc. 7.375% 6/30/2030 <sup>(f)</sup>  | 1216 | 1223 |

---

American Funds Insurance Series — Page 128 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Communication services (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Univision Communications, Inc. 9.375% 8/1/2032 <sup>(f)</sup>  | USD1,375 | $1466 |
| Verizon Communications, Inc. 2.55% 3/21/2031  | 410 | 373 |
| Verizon Communications, Inc. 2.355% 3/15/2032  | 2944 | 2583 |
| Verizon Communications, Inc. 5.05% 5/9/2033  | 1946 | 1992 |
| Verizon Communications, Inc. 5.25% 4/2/2035  | 6387 | 6497 |
| Verizon Communications, Inc. 5.401% 7/2/2037 <sup>(f)</sup>  | 181 | 184 |
| Verizon Communications, Inc. 2.85% 9/3/2041  | 238 | 173 |
| Verizon Communications, Inc. 2.987% 10/30/2056  | 1537 | 949 |
| WarnerMedia Holdings, Inc. 3.755% 3/15/2027  | 2163 | 2135 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042  | 15231 | 12169 |
| WarnerMedia Holdings, Inc. 5.141% 3/15/2052  | 1525 | 1138 |
| X Corp., Term Loan B3, 9.50% 10/26/2029 <sup>(n)</sup>  | 2675 | 2690 |
| X Corp., Term Loan B, (USD-SOFR + 6.50%) 10.958% 10/26/2029 <sup>(i)(n)</sup>  | 2769 | 2720 |
|  |  | 248231 |
| **Health care 0.85%** |  |  |
| 1261229 B.C., Ltd. 10.00% 4/15/2032 <sup>(f)</sup>  | 1840 | 1888 |
| AbbVie, Inc. 5.20% 3/15/2035  | 3056 | 3164 |
| AbbVie, Inc. 5.40% 3/15/2054  | 4085 | 4065 |
| AbbVie, Inc. 5.60% 3/15/2055  | 2261 | 2315 |
| AdaptHealth, LLC 6.125% 8/1/2028 <sup>(f)</sup>  | 645 | 644 |
| AdaptHealth, LLC 4.625% 8/1/2029 <sup>(f)</sup>  | 1990 | 1884 |
| AdaptHealth, LLC 5.125% 3/1/2030 <sup>(f)</sup>  | 1010 | 964 |
| Amgen, Inc. 5.25% 3/2/2030  | 129 | 134 |
| Amgen, Inc. 5.25% 3/2/2033  | 2990 | 3098 |
| Amgen, Inc. 5.60% 3/2/2043  | 1500 | 1521 |
| Amgen, Inc. 5.65% 3/2/2053  | 2464 | 2459 |
| Amgen, Inc. 4.40% 2/22/2062  | 1697 | 1360 |
| Amgen, Inc. 5.75% 3/2/2063  | 538 | 537 |
| AstraZeneca Finance, LLC 1.75% 5/28/2028  | 1677 | 1588 |
| AstraZeneca Finance, LLC 4.90% 2/26/2031  | 1658 | 1713 |
| AstraZeneca Finance, LLC 2.25% 5/28/2031  | 665 | 602 |
| AstraZeneca Finance, LLC 5.00% 2/26/2034  | 3181 | 3282 |
| AstraZeneca PLC 3.375% 11/16/2025  | 1022 | 1021 |
| Bausch Health Americas, Inc. 8.50% 1/31/2027 <sup>(f)</sup>  | 4000 | 3964 |
| Bausch Health Cos., Inc. 4.875% 6/1/2028 <sup>(f)</sup>  | 4175 | 3740 |
| Bausch Health Cos., Inc. 11.00% 9/30/2028 <sup>(f)</sup>  | 1525 | 1587 |
| Bausch Health Cos., Inc. 5.25% 2/15/2031 <sup>(f)</sup>  | 1000 | 656 |
| Baxter International, Inc. 1.915% 2/1/2027  | 4739 | 4595 |
| Baxter International, Inc. 2.272% 12/1/2028  | 3180 | 2985 |
| Bayer US Finance, LLC 6.125% 11/21/2026 <sup>(f)</sup>  | 5419 | 5515 |
| Bayer US Finance, LLC 6.25% 1/21/2029 <sup>(f)</sup>  | 3092 | 3253 |
| Bristol-Myers Squibb Co. 5.10% 2/22/2031  | 187 | 195 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 825 | 856 |
| Bristol-Myers Squibb Co. 5.65% 2/22/2064  | 2550 | 2531 |
| CHS / Community Health Systems, Inc. 6.00% 1/15/2029 <sup>(f)</sup>  | 1750 | 1700 |
| CHS / Community Health Systems, Inc. 10.875% 1/15/2032 <sup>(f)</sup>  | 285 | 302 |
| Cigna Group (The) 5.25% 1/15/2036  | 7390 | 7487 |
| Cigna Group (The) 6.00% 1/15/2056  | 4957 | 5146 |
| CVS Health Corp. 5.00% 1/30/2029  | 3831 | 3907 |
| CVS Health Corp. 5.40% 6/1/2029  | 4144 | 4286 |
| CVS Health Corp. 5.55% 6/1/2031  | 3039 | 3180 |
| CVS Health Corp. 5.70% 6/1/2034  | 4053 | 4231 |
| CVS Health Corp. 6.20% 9/15/2055  | 4630 | 4769 |

---

American Funds Insurance Series — Page 129 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Health care (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| DaVita, Inc. 3.75% 2/15/2031 <sup>(f)</sup>  | USD2,865 | $2626 |
| DaVita, Inc. 6.875% 9/1/2032 <sup>(f)</sup>  | 810 | 837 |
| DaVita, Inc. 6.75% 7/15/2033 <sup>(f)</sup>  | 1600 | 1651 |
| Elevance Health, Inc. 5.20% 2/15/2035  | 610 | 622 |
| Elevance Health, Inc. 5.125% 2/15/2053  | 308 | 282 |
| Elevance Health, Inc. 5.70% 9/15/2055  | 7000 | 6943 |
| Eli Lilly and Co. 5.10% 2/12/2035  | 8075 | 8357 |
| Eli Lilly and Co. 5.55% 10/15/2055  | 4346 | 4474 |
| Eli Lilly and Co. 5.65% 10/15/2065  | 2654 | 2743 |
| Endo Finance Holdings, Inc. 8.50% 4/15/2031 <sup>(f)</sup>  | 2200 | 2363 |
| Endo Finance Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.00%) 8.163% 4/23/2031 <sup>(i)(n)</sup>  | 2549 | 2556 |
| GE HealthCare Technologies, Inc. 4.80% 8/14/2029  | 1522 | 1553 |
| Gilead Sciences, Inc. 5.25% 10/15/2033  | 2642 | 2772 |
| Gilead Sciences, Inc. 5.10% 6/15/2035  | 500 | 514 |
| Humana, Inc. 5.375% 4/15/2031  | 2862 | 2945 |
| Humana, Inc. 5.55% 5/1/2035  | 6289 | 6410 |
| Humana, Inc. 5.75% 4/15/2054  | 1359 | 1298 |
| Insulet Corp. 6.50% 4/1/2033 <sup>(f)</sup>  | 2885 | 3002 |
| Medline Borrower, LP 6.25% 4/1/2029 <sup>(f)</sup>  | 2050 | 2105 |
| Medtronic Global Holdings S.C.A. 4.25% 3/30/2028  | 1983 | 1997 |
| Molina Healthcare, Inc. 4.375% 6/15/2028 <sup>(f)</sup>  | 545 | 532 |
| Molina Healthcare, Inc. 3.875% 11/15/2030 <sup>(f)</sup>  | 2899 | 2685 |
| Novant Health, Inc. 3.168% 11/1/2051  | 3360 | 2283 |
| Novartis Capital Corp. 2.00% 2/14/2027  | 570 | 557 |
| Owens & Minor, Inc. 4.50% 3/31/2029 <sup>(f)</sup>  | 6164 | 4953 |
| Owens & Minor, Inc. 6.625% 4/1/2030 <sup>(f)</sup>  | 2300 | 1900 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 1000 | 967 |
| Radiology Partners, Inc. 8.50% 7/15/2032 <sup>(f)</sup>  | 4445 | 4605 |
| Roche Holdings, Inc. 4.203% 9/9/2029 <sup>(f)</sup>  | 3450 | 3468 |
| Roche Holdings, Inc. 4.592% 9/9/2034 <sup>(f)</sup>  | 2244 | 2245 |
| Summa Health 3.511% 11/15/2051  | 1483 | 1204 |
| Takeda U.S. Financing, Inc. 5.20% 7/7/2035  | 8987 | 9138 |
| Takeda U.S. Financing, Inc. 5.90% 7/7/2055  | 1983 | 2044 |
| Tenet Healthcare Corp. 4.625% 6/15/2028  | 645 | 640 |
| Tenet Healthcare Corp. 4.25% 6/1/2029  | 1975 | 1930 |
| Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026  | 5360 | 5269 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 11995 | 12070 |
| Teva Pharmaceutical Finance Netherlands III BV 8.125% 9/15/2031  | 2000 | 2289 |
| UnitedHealth Group, Inc. 4.95% 1/15/2032  | 5863 | 6009 |
| UnitedHealth Group, Inc. 5.15% 7/15/2034  | 3650 | 3747 |
| UnitedHealth Group, Inc. 5.30% 6/15/2035  | 5621 | 5813 |
| UnitedHealth Group, Inc. 5.625% 7/15/2054  | 5400 | 5375 |
| UnitedHealth Group, Inc. 5.95% 6/15/2055  | 4549 | 4746 |
| Viatris, Inc. 4.00% 6/22/2050  | 3161 | 2158 |
|  |  | 239801 |
| **Consumer discretionary 0.79%** |  |  |
| Aimbridge Acquisition Co., Inc., Term Loan, (1-month USD CME Term SOFR + 5.614%) 9.765% 3/11/2030 <sup>(c)(i)(n)</sup>  | 127 | 127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aimbridge Acquisition Co., Inc., Term Loan, (1-month USD CME Term SOFR + 7.614%) 6.00% PIK and 5.98% <br> Cash 3/11/2030 <sup>(c)(g)(i)(n)</sup>  | 118 | 118 |
| Alibaba Group Holding, Ltd. 2.125% 2/9/2031  | 501 | 452 |
| Alibaba Group Holding, Ltd. 4.50% 11/28/2034  | 766 | 761 |
| Alibaba Group Holding, Ltd. 4.00% 12/6/2037  | 200 | 185 |
| Asbury Automotive Group, Inc. 4.625% 11/15/2029 <sup>(f)</sup>  | 2115 | 2054 |

---

American Funds Insurance Series — Page 130 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Consumer discretionary (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Bath & Body Works, Inc. 6.875% 11/1/2035  | USD350 | $365 |
| Beach Acquisition Bidco, LLC 10.75% PIK or 10.00% Cash 7/15/2033 <sup>(f)(g)</sup>  | 7125 | 7703 |
| Carnival Corp. 4.00% 8/1/2028 <sup>(f)</sup>  | 2375 | 2343 |
| Carnival Corp. 5.125% 5/1/2029 <sup>(f)</sup>  | 1500 | 1500 |
| Carnival Corp. 6.125% 2/15/2033 <sup>(f)</sup>  | 1270 | 1303 |
| Daimler Trucks Finance North America, LLC 4.95% 1/13/2028 <sup>(f)</sup>  | 6570 | 6665 |
| Daimler Trucks Finance North America, LLC 5.125% 1/19/2028 <sup>(f)</sup>  | 604 | 615 |
| Daimler Trucks Finance North America, LLC 2.375% 12/14/2028 <sup>(f)</sup>  | 1350 | 1273 |
| Daimler Trucks Finance North America, LLC 5.125% 9/25/2029 <sup>(f)</sup>  | 3281 | 3368 |
| Daimler Trucks Finance North America, LLC 5.25% 1/13/2030 <sup>(f)</sup>  | 8140 | 8376 |
| Flutter Treasury DAC 5.875% 6/4/2031 <sup>(f)</sup>  | 5937 | 6030 |
| Flutter Treasury DAC 6.125% 6/4/2031  | GBP1,700 | 2310 |
| Ford Motor Credit Co., LLC 6.798% 11/7/2028  | USD2,111 | 2205 |
| Ford Motor Credit Co., LLC 5.80% 3/8/2029  | 3385 | 3436 |
| Ford Motor Credit Co., LLC 5.875% 11/7/2029  | 6830 | 6951 |
| Ford Motor Credit Co., LLC 5.73% 9/5/2030  | 6818 | 6877 |
| Ford Motor Credit Co., LLC 6.532% 3/19/2032  | 4600 | 4789 |
| Ford Motor Credit Co., LLC 7.122% 11/7/2033  | 1425 | 1524 |
| Ford Motor Credit Co., LLC 6.125% 3/8/2034  | 4236 | 4259 |
| Ford Motor Credit Co., LLC 6.50% 2/7/2035  | 4370 | 4492 |
| General Motors Financial Co., Inc. 5.35% 1/7/2030  | 10705 | 10968 |
| General Motors Financial Co., Inc. 5.90% 1/7/2035  | 5417 | 5592 |
| Great Canadian Gaming Corp. 8.75% 11/15/2029 <sup>(f)</sup>  | 3525 | 3488 |
| Group 1 Automotive, Inc. 6.375% 1/15/2030 <sup>(f)</sup>  | 1385 | 1419 |
| Hanesbrands, Inc. 9.00% 2/15/2031 <sup>(f)</sup>  | 1625 | 1722 |
| Hilton Domestic Operating Co., Inc. 4.00% 5/1/2031 <sup>(f)</sup>  | 1885 | 1785 |
| Hilton Grand Vacations Borrower, LLC 5.00% 6/1/2029 <sup>(f)</sup>  | 3580 | 3445 |
| Home Depot, Inc. 1.50% 9/15/2028  | 3000 | 2808 |
| Home Depot, Inc. 3.90% 12/6/2028  | 825 | 826 |
| Home Depot, Inc. 2.95% 6/15/2029  | 1174 | 1133 |
| Home Depot, Inc. 1.875% 9/15/2031  | 3000 | 2622 |
| Home Depot, Inc. 4.50% 12/6/2048  | 428 | 376 |
| Home Depot, Inc. 5.30% 6/25/2054  | 3000 | 2938 |
| Hyatt Hotels Corp. 5.05% 3/30/2028  | 3726 | 3788 |
| Hyatt Hotels Corp. 5.75% 3/30/2032  | 3520 | 3673 |
| Hyundai Capital America 1.50% 6/15/2026 <sup>(f)</sup>  | 762 | 748 |
| Hyundai Capital America 5.45% 6/24/2026 <sup>(f)</sup>  | 3905 | 3938 |
| Hyundai Capital America 4.875% 6/23/2027 <sup>(f)</sup>  | 1334 | 1346 |
| Hyundai Capital America 5.275% 6/24/2027 <sup>(f)</sup>  | 6273 | 6372 |
| Hyundai Capital America 2.375% 10/15/2027 <sup>(f)</sup>  | 2311 | 2225 |
| Hyundai Capital America 4.90% 6/23/2028 <sup>(f)</sup>  | 4992 | 5064 |
| Hyundai Capital America 2.10% 9/15/2028 <sup>(f)</sup>  | 2756 | 2584 |
| Hyundai Capital America 5.30% 1/8/2030 <sup>(f)</sup>  | 10081 | 10357 |
| Hyundai Capital America 5.10% 6/24/2030 <sup>(f)</sup>  | 4980 | 5089 |
| Hyundai Capital America 5.40% 1/8/2031 <sup>(f)</sup>  | 991 | 1022 |
| International Game Technology PLC 5.25% 1/15/2029 <sup>(f)</sup>  | 2445 | 2436 |
| KB Home 7.25% 7/15/2030  | 1295 | 1337 |
| LCM Investments Holdings II, LLC 4.875% 5/1/2029 <sup>(f)</sup>  | 440 | 431 |
| LCM Investments Holdings II, LLC 8.25% 8/1/2031 <sup>(f)</sup>  | 1025 | 1085 |
| Lithia Motors, Inc. 3.875% 6/1/2029 <sup>(f)</sup>  | 2900 | 2772 |
| Lithia Motors, Inc. 4.375% 1/15/2031 <sup>(f)</sup>  | 1025 | 974 |
| Marriott International, Inc. 4.90% 4/15/2029  | 1207 | 1233 |
| Marriott International, Inc. 2.75% 10/15/2033  | 2500 | 2172 |
| Marriott Ownership Resorts, Inc. 4.50% 6/15/2029 <sup>(f)</sup>  | 528 | 510 |

---

American Funds Insurance Series — Page 131 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Consumer discretionary (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| McDonald's Corp. 4.60% 9/9/2032  | USD642 | $651 |
| McDonald's Corp. 4.95% 3/3/2035  | 4392 | 4452 |
| Melco Resorts Finance, Ltd. 5.75% 7/21/2028 <sup>(f)</sup>  | 1710 | 1708 |
| Mercedes-Benz Finance North America, LLC 5.375% 11/26/2025 <sup>(f)</sup>  | 1344 | 1346 |
| Newell Brands, Inc. 8.50% 6/1/2028 <sup>(f)</sup>  | 715 | 758 |
| Newell Brands, Inc. 6.625% 9/15/2029  | 1850 | 1864 |
| Newell Brands, Inc. 6.375% 5/15/2030  | 535 | 531 |
| Newell Brands, Inc. 6.625% 5/15/2032  | 385 | 381 |
| Newell Brands, Inc. 7.375% 4/1/2036  | 1025 | 1021 |
| Newell Brands, Inc. 7.00% 4/1/2046  | 475 | 419 |
| Nissan Motor Acceptance Corp. 1.85% 9/16/2026 <sup>(f)</sup>  | 320 | 309 |
| Nissan Motor Co., Ltd. 7.50% 7/17/2030 <sup>(f)</sup>  | 1940 | 2037 |
| Nissan Motor Co., Ltd. 7.75% 7/17/2032 <sup>(f)</sup>  | 1600 | 1694 |
| Nissan Motor Co., Ltd. 8.125% 7/17/2035 <sup>(f)</sup>  | 1220 | 1310 |
| Party City Holdings, Inc. 0% 8/27/2030 <sup>(c)</sup>  | 1355 | 27 |
| Royal Caribbean Cruises, Ltd. 5.375% 7/15/2027 <sup>(f)</sup>  | 910 | 918 |
| Royal Caribbean Cruises, Ltd. 6.00% 2/1/2033 <sup>(f)</sup>  | 1030 | 1057 |
| Royal Caribbean Cruises, Ltd. 5.375% 1/15/2036  | 4423 | 4451 |
| Sally Holdings, LLC 6.75% 3/1/2032  | 920 | 958 |
| Sands China, Ltd. 2.30% 3/8/2027  | 1859 | 1807 |
| Sonic Automotive, Inc. 4.625% 11/15/2029 <sup>(f)</sup>  | 3645 | 3543 |
| Sonic Automotive, Inc. 4.875% 11/15/2031 <sup>(f)</sup>  | 2215 | 2120 |
| Toyota Motor Credit Corp. 0.80% 1/9/2026  | 384 | 380 |
| Toyota Motor Credit Corp. 1.90% 1/13/2027  | 2240 | 2185 |
| Travel + Leisure Co. 4.50% 12/1/2029 <sup>(f)</sup>  | 2100 | 2030 |
| Universal Entertainment Corp. 9.875% 8/1/2029 <sup>(f)</sup>  | 1230 | 1222 |
| Volkswagen Group of America Finance, LLC 4.625% 11/13/2025 <sup>(f)</sup>  | 3446 | 3445 |
| Voyager Parent, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.75%) 8.752% 7/1/2032 <sup>(i)(n)</sup>  | 2115 | 2122 |
|  |  | 223105 |
| **Information technology 0.68%** |  |  |
| Accenture Capital, Inc. 4.25% 10/4/2031  | 4734 | 4730 |
| Accenture Capital, Inc. 4.50% 10/4/2034  | 4453 | 4395 |
| ams-OSRAM AG 12.25% 3/30/2029 <sup>(f)</sup>  | 1340 | 1443 |
| Analog Devices, Inc. 5.05% 4/1/2034  | 1281 | 1330 |
| Analog Devices, Inc. 5.30% 4/1/2054  | 1762 | 1734 |
| Broadcom, Inc. 5.20% 7/15/2035  | 780 | 804 |
| Broadcom, Inc. 3.137% 11/15/2035 <sup>(f)</sup>  | 600 | 519 |
| Broadcom, Inc. 4.80% 2/15/2036  | 301 | 300 |
| Broadcom, Inc. 4.90% 2/15/2038  | 6167 | 6137 |
| Cisco Systems, Inc. 4.95% 2/26/2031  | 313 | 324 |
| Cisco Systems, Inc. 5.05% 2/26/2034  | 12 | 12 |
| Cisco Systems, Inc. 5.10% 2/24/2035  | 9674 | 10010 |
| Cloud Software Group, Inc. 6.50% 3/31/2029 <sup>(f)</sup>  | 4125 | 4167 |
| Cloud Software Group, Inc. 9.00% 9/30/2029 <sup>(f)</sup>  | 3750 | 3894 |
| Cloud Software Group, Inc. 8.25% 6/30/2032 <sup>(f)</sup>  | 2975 | 3159 |
| CommScope Technologies, LLC 5.00% 3/15/2027 <sup>(f)</sup>  | 5703 | 5663 |
| CommScope, LLC 8.25% 3/1/2027 <sup>(f)</sup>  | 1527 | 1545 |
| CommScope, LLC 7.125% 7/1/2028 <sup>(f)</sup>  | 1973 | 1982 |
| CommScope, LLC 9.50% 12/15/2031 <sup>(f)</sup>  | 400 | 414 |
| Commscope, LLC, Term Loan, (3-month USD CME Term SOFR + 4.75%) 8.913% 12/17/2029 <sup>(i)(n)</sup>  | 485 | 491 |
| Diebold Nixdorf, Inc. 7.75% 3/31/2030 <sup>(f)</sup>  | 7575 | 8010 |
| Ellucian Holdings, Inc., Term Loan, (3-month USD CME Term SOFR + 4.75%) 8.913% 11/22/2032 <sup>(i)(n)</sup>  | 225 | 230 |
| Fair Isaac Corp. 4.00% 6/15/2028 <sup>(f)</sup>  | 1050 | 1022 |

---

American Funds Insurance Series — Page 132 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Information technology (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fair Isaac Corp. 6.00% 5/15/2033 <sup>(f)</sup>  | USD3,925 | $3984 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 11.288% 9/13/2029 <sup>(e)(i)(n)</sup>  | 730 | 736 |
| Finastra USA, Inc., Term Loan, (1-month USD CME Term SOFR + 4.00%) 8.129% 7/30/2032 <sup>(i)(n)</sup>  | 2180 | 2174 |
| Gen Digital, Inc. 6.25% 4/1/2033 <sup>(f)</sup>  | 1375 | 1407 |
| Hughes Satellite Systems Corp. 5.25% 8/1/2026  | 12971 | 12731 |
| Hughes Satellite Systems Corp. 6.625% 8/1/2026  | 9228 | 8784 |
| Intel Corp. 3.05% 8/12/2051  | 3212 | 2040 |
| Intel Corp. 5.60% 2/21/2054  | 6636 | 6376 |
| ION Trading Technologies SARL 9.50% 5/30/2029 <sup>(f)</sup>  | 560 | 594 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 3.25%) 7.413% 3/20/2032 <sup>(i)(n)</sup>  | 1741 | 1746 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 5.00%) 9.163% 3/20/2033 <sup>(i)(n)</sup>  | 900 | 902 |
| Microchip Technology, Inc. 5.05% 3/15/2029  | 3000 | 3067 |
| Microchip Technology, Inc. 5.05% 2/15/2030  | 661 | 676 |
| NCR Atleos Corp. 9.50% 4/1/2029 <sup>(f)</sup>  | 4144 | 4489 |
| Oracle Corp. 5.25% 2/3/2032  | 493 | 509 |
| Oracle Corp. 5.50% 8/3/2035  | 647 | 666 |
| Oracle Corp. 5.20% 9/26/2035  | 7845 | 7891 |
| Oracle Corp. 5.875% 9/26/2045  | 280 | 281 |
| Oracle Corp. 6.00% 8/3/2055  | 9201 | 9243 |
| Oracle Corp. 5.95% 9/26/2055  | 4112 | 4102 |
| Oracle Corp. 6.10% 9/26/2065  | 3733 | 3729 |
| Pagaya US Holding Co., LLC 8.875% 8/1/2030 <sup>(f)</sup>  | 3700 | 3455 |
| Roper Technologies, Inc. 5.10% 9/15/2035  | 357 | 360 |
| Shift4 Payments, LLC 6.75% 8/15/2032 <sup>(f)</sup>  | 2400 | 2483 |
| Synopsys, Inc. 5.15% 4/1/2035  | 4181 | 4255 |
| Synopsys, Inc. 5.70% 4/1/2055  | 2521 | 2546 |
| Texas Instruments, Inc. 4.60% 2/8/2029  | 2222 | 2269 |
| Texas Instruments, Inc. 4.85% 2/8/2034  | 1203 | 1236 |
| Texas Instruments, Inc. 5.10% 5/23/2035  | 4500 | 4642 |
| Texas Instruments, Inc. 5.15% 2/8/2054  | 4750 | 4584 |
| UKG, Inc. 6.875% 2/1/2031 <sup>(f)</sup>  | 950 | 981 |
| Unisys Corp. 10.625% 1/15/2031 <sup>(f)</sup>  | 1228 | 1309 |
| Viasat, Inc. 5.625% 4/15/2027 <sup>(f)</sup>  | 6733 | 6712 |
| Viasat, Inc. 6.50% 7/15/2028 <sup>(f)</sup>  | 1900 | 1859 |
| Viasat, Inc. 7.50% 5/30/2031 <sup>(f)</sup>  | 6626 | 6226 |
| Viasat, Inc., Term Loan B, (1-month USD CME Term SOFR + 4.50%) 8.778% 3/2/2029 <sup>(i)(n)</sup>  | 4042 | 3999 |
| Viasat, Inc., Term Loan B, (1-month USD CME Term SOFR + 4.50%) 8.75% 5/30/2030 <sup>(i)(n)</sup>  | 105 | 103 |
| Wolfspeed, Inc. 4.00% PIK and 9.875% Cash 6/23/2030 <sup>(e)(g)</sup>  | 1123 | 1230 |
| X.AI Corp. 12.50% 6/30/2030  | 2485 | 2612 |
| Xerox Holdings Corp. 5.50% 8/15/2028 <sup>(f)</sup>  | 600 | 354 |
| Xerox Holdings Corp. 8.875% 11/30/2029 <sup>(f)</sup>  | 779 | 425 |
|  |  | 190082 |
| **Energy 0.66%** |  |  |
| Antero Midstream Partners, LP 5.375% 6/15/2029 <sup>(f)</sup>  | 2390 | 2383 |
| Antero Midstream Partners, LP 6.625% 2/1/2032 <sup>(f)</sup>  | 175 | 180 |
| Ascent Resources Utica Holdings, LLC 5.875% 6/30/2029 <sup>(f)</sup>  | 1270 | 1268 |
| Ascent Resources Utica Holdings, LLC 6.625% 10/15/2032 <sup>(f)</sup>  | 510 | 521 |
| Ascent Resources Utica Holdings, LLC 6.625% 7/15/2033 <sup>(f)</sup>  | 430 | 438 |
| Borr IHC, Ltd. 10.00% 11/15/2028 <sup>(f)</sup>  | 3087 | 3074 |
| Borr IHC, Ltd. 10.375% 11/15/2030 <sup>(f)</sup>  | 556 | 558 |
| Canadian Natural Resources, Ltd. 4.95% 6/1/2047  | 1397 | 1245 |
| Chord Energy Corp. 6.75% 3/15/2033 <sup>(f)</sup>  | 1325 | 1343 |
| Civitas Resources, Inc. 5.00% 10/15/2026 <sup>(f)</sup>  | 480 | 478 |

---

American Funds Insurance Series — Page 133 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Energy (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Civitas Resources, Inc. 8.375% 7/1/2028 <sup>(f)</sup>  | USD2,780 | $2885 |
| Civitas Resources, Inc. 8.625% 11/1/2030 <sup>(f)</sup>  | 525 | 544 |
| Civitas Resources, Inc. 8.75% 7/1/2031 <sup>(f)</sup>  | 735 | 754 |
| CNX Midstream Partners, LP 4.75% 4/15/2030 <sup>(f)</sup>  | 1055 | 1012 |
| CNX Resources Corp. 6.00% 1/15/2029 <sup>(f)</sup>  | 2675 | 2678 |
| CNX Resources Corp. 7.375% 1/15/2031 <sup>(f)</sup>  | 553 | 571 |
| CNX Resources Corp. 7.25% 3/1/2032 <sup>(f)</sup>  | 1180 | 1225 |
| Constellation Oil Services Holding SA 9.375% 11/7/2029 <sup>(f)</sup>  | 2320 | 2380 |
| Crescent Energy Finance, LLC 7.625% 4/1/2032 <sup>(f)</sup>  | 1510 | 1501 |
| Crescent Energy Finance, LLC 7.375% 1/15/2033 <sup>(f)</sup>  | 1210 | 1179 |
| Devon Energy Corp. 5.20% 9/15/2034  | 1933 | 1925 |
| Devon Energy Corp. 5.75% 9/15/2054  | 7476 | 6940 |
| Diamondback Energy, Inc. 5.55% 4/1/2035  | 2038 | 2093 |
| Diamondback Energy, Inc. 5.75% 4/18/2054  | 3000 | 2890 |
| Enbridge, Inc. 3.70% 7/15/2027  | 56 | 56 |
| Energy Transfer, LP 4.75% 1/15/2026  | 2235 | 2236 |
| Enterprise Products Operating, LLC 5.05% 1/10/2026  | 3153 | 3160 |
| Enterprise Products Operating, LLC 4.90% 5/15/2046  | 448 | 412 |
| EOG Resources, Inc. 4.40% 7/15/2028  | 410 | 414 |
| EOG Resources, Inc. 5.65% 12/1/2054  | 3079 | 3085 |
| EQT Corp. 7.50% 6/1/2030  | 642 | 708 |
| EQT Corp. 4.75% 1/15/2031  | 1635 | 1632 |
| Equinor ASA 4.25% 11/23/2041  | 1792 | 1622 |
| Expand Energy Corp. 5.875% 2/1/2029 <sup>(f)</sup>  | 790 | 793 |
| Expand Energy Corp. 5.375% 3/15/2030  | 1645 | 1673 |
| Expand Energy Corp. 4.75% 2/1/2032  | 810 | 796 |
| Expand Energy Corp. 4.875% 4/15/2032 <sup>(o)</sup>  | 7225 | 30 |
| Exxon Mobil Corp. 2.44% 8/16/2029  | 213 | 203 |
| Exxon Mobil Corp. 3.452% 4/15/2051  | 555 | 407 |
| Genesis Energy, LP 7.75% 2/1/2028  | 350 | 353 |
| Genesis Energy, LP 8.25% 1/15/2029  | 670 | 699 |
| Genesis Energy, LP 8.875% 4/15/2030  | 884 | 937 |
| Genesis Energy, LP 7.875% 5/15/2032  | 1120 | 1169 |
| GreenSaif Pipelines Bidco SARL 5.853% 2/23/2036 <sup>(f)</sup>  | 1135 | 1193 |
| GreenSaif Pipelines Bidco SARL 6.129% 2/23/2038  | 3477 | 3704 |
| GreenSaif Pipelines Bidco SARL 6.51% 2/23/2042  | 2003 | 2173 |
| GreenSaif Pipelines Bidco SARL 6.103% 8/23/2042 <sup>(f)</sup>  | 4257 | 4481 |
| Halliburton Co. 3.80% 11/15/2025  | 6 | 6 |
| Harvest Midstream I, LP 7.50% 9/1/2028 <sup>(f)</sup>  | 420 | 425 |
| Harvest Midstream I, LP 7.50% 5/15/2032 <sup>(f)</sup>  | 190 | 195 |
| Hess Midstream Operations, LP 5.875% 3/1/2028 <sup>(f)</sup>  | 750 | 765 |
| Hess Midstream Operations, LP 5.125% 6/15/2028 <sup>(f)</sup>  | 1655 | 1654 |
| Hess Midstream Operations, LP 4.25% 2/15/2030 <sup>(f)</sup>  | 960 | 931 |
| Hess Midstream Operations, LP 5.50% 10/15/2030 <sup>(f)</sup>  | 400 | 403 |
| Hilcorp Energy I, LP 6.00% 4/15/2030 <sup>(f)</sup>  | 465 | 459 |
| Hilcorp Energy I, LP 6.00% 2/1/2031 <sup>(f)</sup>  | 540 | 522 |
| Hilcorp Energy I, LP 8.375% 11/1/2033 <sup>(f)</sup>  | 475 | 499 |
| Matador Resources Co. 6.50% 4/15/2032 <sup>(f)</sup>  | 1325 | 1339 |
| MPLX, LP 4.125% 3/1/2027  | 448 | 448 |
| MPLX, LP 5.40% 9/15/2035  | 1329 | 1333 |
| Nabors Industries, Inc. 9.125% 1/31/2030 <sup>(f)</sup>  | 1745 | 1816 |
| New Fortress Energy, Inc. 6.50% 9/30/2026 <sup>(f)</sup>  | 1375 | 347 |
| NFE Financing, LLC 12.00% 11/15/2029 <sup>(f)</sup>  | 20423 | 6025 |
| Northern Oil and Gas, Inc. 8.75% 6/15/2031 <sup>(f)</sup>  | 300 | 310 |

---

American Funds Insurance Series — Page 134 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Energy (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Northern Oil and Gas, Inc. 7.875% 10/15/2033 <sup>(f)</sup>  | USD725 | $723 |
| Occidental Petroleum Corp. 6.60% 3/15/2046  | 2268 | 2373 |
| Occidental Petroleum Corp. 6.05% 10/1/2054  | 6482 | 6330 |
| Parkland Corp. 5.875% 7/15/2027 <sup>(f)</sup>  | 1550 | 1552 |
| Parkland Corp. 4.625% 5/1/2030 <sup>(f)</sup>  | 510 | 496 |
| Permian Resources Operating, LLC 9.875% 7/15/2031 <sup>(f)</sup>  | 586 | 638 |
| Permian Resources Operating, LLC 7.00% 1/15/2032 <sup>(f)</sup>  | 1020 | 1059 |
| Permian Resources Operating, LLC 6.25% 2/1/2033 <sup>(f)</sup>  | 800 | 815 |
| Petrobras Global Finance BV 5.125% 9/10/2030  | 5550 | 5492 |
| Petroleos Mexicanos 6.875% 10/16/2025  | 2517 | 2515 |
| Petroleos Mexicanos 4.50% 1/23/2026  | 400 | 398 |
| Petroleos Mexicanos 6.875% 8/4/2026  | 850 | 862 |
| Petroleos Mexicanos 6.50% 3/13/2027  | 1321 | 1338 |
| Petroleos Mexicanos 5.35% 2/12/2028  | 4750 | 4733 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 1925 | 1959 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 1925 | 1866 |
| Petroleos Mexicanos 6.50% 6/2/2041  | 41 | 36 |
| Petroleos Mexicanos 6.375% 1/23/2045  | 16 | 13 |
| Petroleos Mexicanos 6.75% 9/21/2047  | 139 | 115 |
| Petroleos Mexicanos 6.35% 2/12/2048  | 23 | 18 |
| Petroleos Mexicanos 7.69% 1/23/2050  | 2548 | 2318 |
| Petroleos Mexicanos 6.95% 1/28/2060  | 163 | 134 |
| Plains All American Pipeline, LP 3.80% 9/15/2030  | 101 | 97 |
| Repsol E&P Capital Markets US, LLC 5.976% 9/16/2035 <sup>(f)</sup>  | 200 | 204 |
| Rockies Express Pipeline, LLC 4.95% 7/15/2029 <sup>(f)</sup>  | 2689 | 2669 |
| Saudi Arabian Oil Co. 5.75% 7/17/2054 <sup>(f)</sup>  | 3799 | 3784 |
| Seadrill Finance, Ltd. 8.375% 8/1/2030 <sup>(f)</sup>  | 625 | 649 |
| South Bow USA Infrastructure Holdings, LLC 5.026% 10/1/2029  | 1668 | 1688 |
| Sunoco, LP 7.00% 9/15/2028 <sup>(f)</sup>  | 1475 | 1522 |
| Sunoco, LP 4.50% 5/15/2029  | 925 | 903 |
| Sunoco, LP 4.50% 4/30/2030  | 1105 | 1065 |
| Sunoco, LP 5.625% 3/15/2031 <sup>(f)</sup>  | 550 | 546 |
| Sunoco, LP 6.25% 7/1/2033 <sup>(f)</sup>  | 530 | 540 |
| Sunoco, LP 5.875% 3/15/2034 <sup>(f)</sup>  | 580 | 575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sunoco, LP 7.875% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity <br> + 4.23% on 9/18/2030) <sup>(f)(k)</sup>  | 1470 | 1494 |
| Talos Production, Inc. 9.00% 2/1/2029 <sup>(f)</sup>  | 500 | 517 |
| Talos Production, Inc. 9.375% 2/1/2031 <sup>(f)</sup>  | 85 | 89 |
| TGS ASA 8.50% 1/15/2030 <sup>(f)</sup>  | 1235 | 1273 |
| Tidewater, Inc. 9.125% 7/15/2030 <sup>(f)</sup>  | 445 | 478 |
| TotalEnergies Capital SA 5.275% 9/10/2054  | 3750 | 3606 |
| TransCanada Pipelines, Ltd. 4.25% 5/15/2028  | 977 | 978 |
| TransCanada Pipelines, Ltd. 4.10% 4/15/2030  | 536 | 529 |
| Transocean International, Ltd. 7.875% 10/15/2032 <sup>(f)</sup>  | 1125 | 1139 |
| Transocean Titan Financing, Ltd. 8.375% 2/1/2028 <sup>(f)</sup>  | 358 | 368 |
| Transocean, Inc. 8.00% 2/1/2027 <sup>(f)</sup>  | 105 | 105 |
| Transocean, Inc. 8.50% 5/15/2031 <sup>(f)</sup>  | 2000 | 1962 |
| Valero Energy Corp. 4.00% 4/1/2029  | 3584 | 3543 |
| Venture Global Calcasieu Pass, LLC 3.875% 8/15/2029 <sup>(f)</sup>  | 1030 | 988 |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031 <sup>(f)</sup>  | 840 | 793 |
| Venture Global LNG, Inc. 8.375% 6/1/2031 <sup>(f)</sup>  | 3680 | 3866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global LNG, Inc. 9.00% junior subordinated perpetual preferred bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 5.44% on 9/30/2029) <sup>(f)(k)</sup>  | 2000 | 1984 |
| Venture Global Plaquemines LNG, LLC 7.50% 5/1/2033 <sup>(f)</sup>  | 2215 | 2449 |

---

American Funds Insurance Series — Page 135 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Energy (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Venture Global Plaquemines LNG, LLC 6.50% 1/15/2034 <sup>(f)</sup>  | USD5,730 | $6035 |
| Venture Global Plaquemines LNG, LLC 6.75% 1/15/2036 <sup>(f)</sup>  | 2035 | 2163 |
| Weatherford International, Ltd. 8.625% 4/30/2030 <sup>(f)</sup>  | 8996 | 9203 |
| Weatherford International, Ltd. 6.75% 10/15/2033 <sup>(f)</sup>  | 3030 | 3034 |
|  |  | 186099 |
| **Industrials 0.50%** |  |  |
| AAdvantage Loyalty IP, Ltd. 5.50% 4/20/2026 <sup>(f)</sup>  | 251 | 252 |
| Albion Financing 1 SARL 7.00% 5/21/2030 <sup>(f)</sup>  | 3525 | 3655 |
| Ambipar Lux SARL 10.875% 2/5/2033  | 725 | 122 |
| Ambipar Lux SARL 10.875% 2/5/2033 <sup>(f)</sup>  | 401 | 67 |
| Axon Enterprise, Inc. 6.125% 3/15/2030 <sup>(f)</sup>  | 5175 | 5328 |
| Axon Enterprise, Inc. 6.25% 3/15/2033 <sup>(f)</sup>  | 5835 | 6020 |
| BAE Systems PLC 5.125% 3/26/2029 <sup>(f)</sup>  | 3403 | 3506 |
| BAE Systems PLC 5.25% 3/26/2031 <sup>(f)</sup>  | 2663 | 2763 |
| BAE Systems PLC 5.30% 3/26/2034 <sup>(f)</sup>  | 2772 | 2874 |
| BAE Systems PLC 5.50% 3/26/2054 <sup>(f)</sup>  | 599 | 609 |
| Boeing Co. (The) 3.10% 5/1/2026  | 251 | 249 |
| Boeing Co. (The) 3.25% 2/1/2028  | 2000 | 1954 |
| Boeing Co. (The) 5.15% 5/1/2030  | 945 | 970 |
| Boeing Co. (The) 3.625% 2/1/2031  | 178 | 171 |
| Boeing Co. (The) 6.388% 5/1/2031  | 227 | 247 |
| Boeing Co. (The) 3.60% 5/1/2034  | 2500 | 2262 |
| Boeing Co. (The) 6.528% 5/1/2034  | 6029 | 6670 |
| Boeing Co. (The) 5.805% 5/1/2050  | 3605 | 3604 |
| Boeing Co. (The) 6.858% 5/1/2054  | 2113 | 2412 |
| Boeing Co. (The) 7.008% 5/1/2064  | 1301 | 1507 |
| Brink's Co. (The) 4.625% 10/15/2027 <sup>(f)</sup>  | 2385 | 2364 |
| Brink's Co. (The) 6.50% 6/15/2029 <sup>(f)</sup>  | 485 | 499 |
| Brink's Co. (The) 6.75% 6/15/2032 <sup>(f)</sup>  | 850 | 885 |
| Canadian Pacific Railway Co. 1.75% 12/2/2026  | 1385 | 1349 |
| Canadian Pacific Railway Co. 5.20% 3/30/2035  | 2705 | 2790 |
| Canadian Pacific Railway Co. 3.00% 12/2/2041  | 209 | 157 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 653 | 443 |
| Chart Industries, Inc. 7.50% 1/1/2030 <sup>(f)</sup>  | 1347 | 1404 |
| CSX Corp. 4.25% 3/15/2029  | 1062 | 1066 |
| CSX Corp. 5.05% 6/15/2035  | 6111 | 6244 |
| FTAI Aviation Investors, LLC 5.50% 5/1/2028 <sup>(f)</sup>  | 1540 | 1542 |
| General Aerospace Co. 4.90% 1/29/2036  | 1026 | 1041 |
| Herc Holdings, Inc. 7.00% 6/15/2030 <sup>(f)</sup>  | 1510 | 1570 |
| Herc Holdings, Inc. 7.25% 6/15/2033 <sup>(f)</sup>  | 505 | 528 |
| Icahn Enterprises, LP 5.25% 5/15/2027  | 2535 | 2494 |
| Icahn Enterprises, LP 4.375% 2/1/2029  | 2500 | 2160 |
| L3Harris Technologies, Inc. 5.40% 7/31/2033  | 4059 | 4232 |
| Lockheed Martin Corp. 5.10% 11/15/2027  | 852 | 873 |
| Lockheed Martin Corp. 4.45% 5/15/2028  | 2604 | 2634 |
| Lockheed Martin Corp. 5.70% 11/15/2054  | 1657 | 1711 |
| Norfolk Southern Corp. 4.45% 3/1/2033  | 1515 | 1507 |
| Norfolk Southern Corp. 5.10% 5/1/2035  | 2842 | 2905 |
| Norfolk Southern Corp. 3.05% 5/15/2050  | 2746 | 1864 |
| Norfolk Southern Corp. 5.35% 8/1/2054  | 4136 | 4078 |
| Northrop Grumman Corp. 3.25% 1/15/2028  | 3132 | 3081 |
| OneSky Flight, LLC 8.875% 12/15/2029 <sup>(f)</sup>  | 1125 | 1184 |
| Otis Worldwide Corp. 2.293% 4/5/2027  | 1913 | 1867 |

---

American Funds Insurance Series — Page 136 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Industrials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Paychex, Inc. 5.60% 4/15/2035  | USD427 | $447 |
| QXO Building Products, Inc. 6.75% 4/30/2032 <sup>(f)</sup>  | 1455 | 1510 |
| Reworld Holding Corp. 4.875% 12/1/2029 <sup>(f)</sup>  | 1035 | 974 |
| RTX Corp. 5.15% 2/27/2033  | 2669 | 2765 |
| RTX Corp. 5.375% 2/27/2053  | 3950 | 3867 |
| Science Applications International Corp. 5.875% 11/1/2033 <sup>(f)</sup>  | 480 | 480 |
| Siemens Funding BV 5.80% 5/28/2055 <sup>(f)</sup>  | 6288 | 6758 |
| Siemens Funding BV 5.90% 5/28/2065 <sup>(f)</sup>  | 5581 | 6061 |
| Standard Building Solutions, Inc. 6.25% 8/1/2033 <sup>(f)</sup>  | 2480 | 2515 |
| Texas Combined Tirz I, LLC 0% 12/7/2062 <sup>(c)(f)</sup>  | 393 | 393 |
| TransDigm, Inc. 6.625% 3/1/2032 <sup>(f)</sup>  | 1485 | 1531 |
| TransDigm, Inc. 6.25% 1/31/2034 <sup>(f)</sup>  | 4100 | 4220 |
| TransDigm, Inc. 6.75% 1/31/2034 <sup>(f)</sup>  | 2625 | 2716 |
| Union Pacific Corp. 2.40% 2/5/2030  | 2163 | 2016 |
| Union Pacific Corp. 5.10% 2/20/2035  | 2865 | 2947 |
| Union Pacific Corp. 3.50% 2/14/2053  | 42 | 30 |
| Union Pacific Corp. 5.60% 12/1/2054  | 2614 | 2657 |
| Union Pacific Corp. 3.839% 3/20/2060  | 546 | 405 |
| Union Pacific Corp. 3.799% 4/6/2071  | 545 | 385 |
|  |  | 140391 |
| **Consumer staples 0.38%** |  |  |
| 7-Eleven, Inc. 0.95% 2/10/2026 <sup>(f)</sup>  | 739 | 730 |
| Albertsons Cos., Inc. 4.875% 2/15/2030 <sup>(f)</sup>  | 1000 | 984 |
| B&G Foods, Inc. 5.25% 9/15/2027  | 2090 | 2024 |
| B&G Foods, Inc. 8.00% 9/15/2028 <sup>(f)</sup>  | 2010 | 1950 |
| BAT Capital Corp. 6.343% 8/2/2030  | 124 | 134 |
| BAT Capital Corp. 4.625% 3/22/2033  | 2026 | 2006 |
| BAT Capital Corp. 6.421% 8/2/2033  | 134 | 147 |
| BAT Capital Corp. 5.625% 8/15/2035  | 631 | 656 |
| BAT Capital Corp. 4.54% 8/15/2047  | 627 | 526 |
| BAT Capital Corp. 6.25% 8/15/2055  | 8500 | 8894 |
| Campbell's Co. (The) 4.75% 3/23/2035  | 952 | 924 |
| Coca-Cola Co. 1.00% 3/15/2028  | 842 | 789 |
| Coca-Cola Co. 4.65% 8/14/2034  | 1618 | 1648 |
| Constellation Brands, Inc. 3.60% 2/15/2028  | 625 | 617 |
| Constellation Brands, Inc. 2.25% 8/1/2031  | 1487 | 1311 |
| Fiesta Purchaser, Inc. 9.625% 9/15/2032 <sup>(f)</sup>  | 400 | 433 |
| Imperial Brands Finance PLC 4.50% 6/30/2028 <sup>(f)</sup>  | 1400 | 1409 |
| Imperial Brands Finance PLC 5.625% 7/1/2035 <sup>(f)</sup>  | 2250 | 2296 |
| Imperial Brands Finance PLC 6.375% 7/1/2055 <sup>(f)</sup>  | 2101 | 2184 |
| J. M. Smucker Co. (The) 5.90% 11/15/2028  | 2385 | 2506 |
| J. M. Smucker Co. (The) 6.20% 11/15/2033  | 1554 | 1689 |
| J. M. Smucker Co. (The) 6.50% 11/15/2043  | 229 | 250 |
| J. M. Smucker Co. (The) 6.50% 11/15/2053  | 806 | 890 |
| Kroger Co. 5.00% 9/15/2034  | 4462 | 4502 |
| Kroger Co. 5.50% 9/15/2054  | 1983 | 1934 |
| Mars, Inc. 4.80% 3/1/2030 <sup>(f)</sup>  | 3408 | 3473 |
| Mars, Inc. 5.00% 3/1/2032 <sup>(f)</sup>  | 1855 | 1899 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(f)</sup>  | 385 | 394 |
| Mars, Inc. 5.70% 5/1/2055 <sup>(f)</sup>  | 6678 | 6769 |
| Mondelez International, Inc. 5.125% 5/6/2035  | 2176 | 2219 |
| Philip Morris International, Inc. 5.125% 11/17/2027  | 319 | 326 |
| Philip Morris International, Inc. 4.875% 2/15/2028  | 623 | 634 |

---

American Funds Insurance Series — Page 137 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Consumer staples (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Philip Morris International, Inc. 4.625% 11/1/2029  | USD703 | $714 |
| Philip Morris International, Inc. 5.625% 11/17/2029  | 154 | 162 |
| Philip Morris International, Inc. 5.125% 2/15/2030  | 433 | 448 |
| Philip Morris International, Inc. 4.375% 4/30/2030  | 1975 | 1985 |
| Philip Morris International, Inc. 5.125% 2/13/2031  | 2275 | 2355 |
| Philip Morris International, Inc. 4.75% 11/1/2031  | 6194 | 6304 |
| Philip Morris International, Inc. 4.90% 11/1/2034  | 6755 | 6813 |
| Philip Morris International, Inc. 4.875% 4/30/2035  | 11907 | 11920 |
| Post Holdings, Inc. 4.625% 4/15/2030 <sup>(f)</sup>  | 2886 | 2785 |
| Post Holdings, Inc. 6.25% 2/15/2032 <sup>(f)</sup>  | 13279 | 13668 |
| Prestige Brands, Inc. 3.75% 4/1/2031 <sup>(f)</sup>  | 1115 | 1028 |
| Reynolds American, Inc. 5.85% 8/15/2045  | 2030 | 2013 |
|  |  | 107342 |
| **Real estate 0.38%** |  |  |
| Alexandria Real Estate Equities, Inc. 3.80% 4/15/2026  | 282 | 281 |
| Alexandria Real Estate Equities, Inc. 3.95% 1/15/2028  | 1093 | 1087 |
| Alexandria Real Estate Equities, Inc. 2.75% 12/15/2029  | 1738 | 1629 |
| Alexandria Real Estate Equities, Inc. 3.375% 8/15/2031  | 1183 | 1107 |
| Alexandria Real Estate Equities, Inc. 1.875% 2/1/2033  | 3670 | 3016 |
| Alexandria Real Estate Equities, Inc. 4.85% 4/15/2049  | 367 | 320 |
| American Tower Corp. 1.45% 9/15/2026  | 246 | 240 |
| American Tower Corp. 3.55% 7/15/2027  | 1277 | 1265 |
| American Tower Corp. 3.60% 1/15/2028  | 896 | 885 |
| American Tower Corp. 1.50% 1/31/2028  | 2240 | 2110 |
| American Tower Corp. 2.30% 9/15/2031  | 1344 | 1188 |
| American Tower Corp. 2.95% 1/15/2051  | 1792 | 1163 |
| Anywhere Real Estate Group, LLC 5.75% 1/15/2029 <sup>(f)</sup>  | 3040 | 2933 |
| Anywhere Real Estate Group, LLC 7.00% 4/15/2030 <sup>(f)</sup>  | 1975 | 2000 |
| Boston Properties, LP 6.50% 1/15/2034  | 2223 | 2399 |
| Boston Properties, LP 5.75% 1/15/2035  | 3143 | 3215 |
| Extra Space Storage, LP 2.35% 3/15/2032  | 1241 | 1078 |
| Fideicomiso Fibra Uno 7.70% 1/23/2032 <sup>(f)</sup>  | 1185 | 1282 |
| Host Hotels & Resorts, LP 4.50% 2/1/2026  | 318 | 318 |
| Howard Hughes Corp. (The) 5.375% 8/1/2028 <sup>(f)</sup>  | 1705 | 1700 |
| Howard Hughes Corp. (The) 4.125% 2/1/2029 <sup>(f)</sup>  | 2855 | 2741 |
| Howard Hughes Corp. (The) 4.375% 2/1/2031 <sup>(f)</sup>  | 3900 | 3660 |
| Invitation Homes Operating Partnership, LP 2.00% 8/15/2031  | 2152 | 1861 |
| Iron Mountain, Inc. 5.25% 7/15/2030 <sup>(f)</sup>  | 3785 | 3746 |
| Iron Mountain, Inc. 4.50% 2/15/2031 <sup>(f)</sup>  | 2650 | 2532 |
| Ladder Capital Finance Holdings LLLP 5.50% 8/1/2030  | 1884 | 1923 |
| MPT Operating Partnership, LP 5.00% 10/15/2027  | 12137 | 11769 |
| MPT Operating Partnership, LP 4.625% 8/1/2029  | 630 | 526 |
| MPT Operating Partnership, LP 8.50% 2/15/2032 <sup>(f)</sup>  | 3968 | 4219 |
| Park Intermediate Holdings, LLC 4.875% 5/15/2029 <sup>(f)</sup>  | 2280 | 2225 |
| Park Intermediate Holdings, LLC 7.00% 2/1/2030 <sup>(f)</sup>  | 1000 | 1032 |
| Prologis, LP 4.875% 6/15/2028  | 1357 | 1388 |
| Prologis, LP 4.75% 6/15/2033  | 2359 | 2381 |
| Prologis, LP 5.00% 3/15/2034  | 1850 | 1881 |
| Prologis, LP 5.00% 1/31/2035  | 1033 | 1048 |
| Public Storage Operating Co. 1.85% 5/1/2028  | 2231 | 2116 |
| Public Storage Operating Co. 1.95% 11/9/2028  | 1816 | 1708 |
| Public Storage Operating Co. 2.30% 5/1/2031  | 644 | 579 |
| Scentre Group Trust 1 3.25% 10/28/2025 <sup>(f)</sup>  | 896 | 895 |

---

American Funds Insurance Series — Page 138 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Real estate (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Scentre Group Trust 1 3.75% 3/23/2027 <sup>(f)</sup>  | USD2,178 | $2165 |
| Service Properties Trust 4.75% 10/1/2026  | 1635 | 1639 |
| Service Properties Trust 4.95% 2/15/2027  | 670 | 668 |
| Service Properties Trust 0% 9/30/2027 <sup>(f)</sup>  | 1000 | 883 |
| Service Properties Trust 5.50% 12/15/2027  | 655 | 643 |
| Service Properties Trust 3.95% 1/15/2028  | 1815 | 1700 |
| Service Properties Trust 8.375% 6/15/2029  | 4228 | 4297 |
| Service Properties Trust 4.95% 10/1/2029  | 2715 | 2395 |
| Service Properties Trust 4.375% 2/15/2030  | 705 | 600 |
| Service Properties Trust 8.625% 11/15/2031 <sup>(f)</sup>  | 6775 | 7219 |
| Service Properties Trust 8.875% 6/15/2032  | 4628 | 4658 |
| Sun Communities Operating, LP 2.30% 11/1/2028  | 1653 | 1563 |
| Sun Communities Operating, LP 2.70% 7/15/2031  | 785 | 711 |
| UDR, Inc. 2.95% 9/1/2026  | 681 | 674 |
|  |  | 107261 |
| **Materials 0.32%** |  |  |
| AmeriTex HoldCo Intermediate, LLC 7.625% 8/15/2033 <sup>(f)</sup>  | 1740 | 1813 |
| Avient Corp. 7.125% 8/1/2030 <sup>(f)</sup>  | 855 | 879 |
| Avient Corp. 6.25% 11/1/2031 <sup>(f)</sup>  | 170 | 173 |
| BHP Billiton Finance (USA), Ltd. 5.75% 9/5/2055  | 2361 | 2456 |
| Celanese US Holdings, LLC 6.665% 7/15/2027  | 1996 | 2049 |
| Celanese US Holdings, LLC 7.05% 11/15/2030  | 2501 | 2584 |
| Celanese US Holdings, LLC 7.20% 11/15/2033  | 1618 | 1683 |
| Century Aluminum Co. 6.875% 8/1/2032 <sup>(f)</sup>  | 1300 | 1349 |
| Cleveland-Cliffs, Inc. 5.875% 6/1/2027  | 5425 | 5428 |
| Cleveland-Cliffs, Inc. 4.625% 3/1/2029 <sup>(f)</sup>  | 3625 | 3496 |
| Cleveland-Cliffs, Inc. 6.875% 11/1/2029 <sup>(f)</sup>  | 1650 | 1683 |
| Cleveland-Cliffs, Inc. 6.75% 4/15/2030 <sup>(f)</sup>  | 2275 | 2314 |
| Cleveland-Cliffs, Inc. 4.875% 3/1/2031 <sup>(f)</sup>  | 775 | 726 |
| Cleveland-Cliffs, Inc. 7.50% 9/15/2031 <sup>(f)</sup>  | 2000 | 2063 |
| Cleveland-Cliffs, Inc. 7.00% 3/15/2032 <sup>(f)</sup>  | 2695 | 2725 |
| Cleveland-Cliffs, Inc. 7.625% 1/15/2034 <sup>(f)</sup>  | 900 | 928 |
| Consolidated Energy Finance SA 12.00% 2/15/2031 <sup>(f)</sup>  | 1480 | 1356 |
| Dow Chemical Co. (The) 4.80% 1/15/2031  | 1290 | 1285 |
| Dow Chemical Co. (The) 5.35% 3/15/2035  | 1735 | 1726 |
| Dow Chemical Co. (The) 5.65% 3/15/2036  | 886 | 891 |
| Dow Chemical Co. (The) 4.80% 5/15/2049  | 435 | 355 |
| Dow Chemical Co. (The) 3.60% 11/15/2050  | 1057 | 717 |
| Dow Chemical Co. (The) 5.95% 3/15/2055  | 4720 | 4488 |
| First Quantum Minerals, Ltd. 9.375% 3/1/2029 <sup>(f)</sup>  | 5370 | 5698 |
| FXI Holdings, Inc. 12.25% 11/15/2026 <sup>(f)</sup>  | 4517 | 3986 |
| FXI Holdings, Inc. 12.25% 11/15/2026 <sup>(f)</sup>  | 2181 | 1917 |
| International Flavors & Fragrances, Inc. 1.832% 10/15/2027 <sup>(f)</sup>  | 1406 | 1338 |
| JH North America Holdings, Inc. 5.875% 1/31/2031 <sup>(f)</sup>  | 1700 | 1727 |
| JH North America Holdings, Inc. 6.125% 7/31/2032 <sup>(f)</sup>  | 1335 | 1369 |
| Linde, Inc. 1.10% 8/10/2030  | 2633 | 2292 |
| LYB International Finance III, LLC 6.15% 5/15/2035  | 560 | 584 |
| Minera Mexico, SA de CV, 5.625% 2/12/2032 <sup>(f)</sup>  | 6734 | 6956 |
| Mineral Resources, Ltd. 9.25% 10/1/2028 <sup>(f)</sup>  | 945 | 991 |
| Mineral Resources, Ltd. 8.50% 5/1/2030 <sup>(f)</sup>  | 1525 | 1587 |
| Mosaic Co. 4.05% 11/15/2027  | 941 | 939 |
| NOVA Chemicals Corp. 4.25% 5/15/2029 <sup>(f)</sup>  | 1785 | 1729 |
| NOVA Chemicals Corp. 9.00% 2/15/2030 <sup>(f)</sup>  | 3775 | 4052 |

---

American Funds Insurance Series — Page 139 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Materials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| NOVA Chemicals Corp. 7.00% 12/1/2031 <sup>(f)</sup>  | USD1,130 | $1191 |
| Quikrete Holdings, Inc. 6.75% 3/1/2033 <sup>(f)</sup>  | 1050 | 1092 |
| Rio Tinto Finance (USA) PLC 5.25% 3/14/2035  | 1339 | 1380 |
| Rio Tinto Finance (USA) PLC 5.75% 3/14/2055  | 3244 | 3341 |
| Sherwin-Williams Co. 5.15% 8/15/2035  | 473 | 481 |
| Solstice Advanced Materials, Inc. 5.625% 9/30/2033 <sup>(f)</sup>  | 1290 | 1295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 2.00%) 8.00% PIK and 6.261% Cash <br> 1/16/2026 <sup>(c)(g)(i)(n)</sup>  | 781 | 194 |
| Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 8.00%) 8.00% PIK 7/16/2026 <sup>(c)(g)(i)(n)</sup>  | 786 | 195 |
| Venator Material, LLC, Term Loan, (USD-SOFR + 10.00%) 8.00% PIK and 6.322% Cash 10/12/2028 <sup>(c)(g)(i)(n)</sup>  | 1293 | 321 |
| Veritiv Operating Co. 10.50% 11/30/2030 <sup>(f)</sup>  | 640 | 688 |
| Warrior Met Coal, Inc. 7.875% 12/1/2028 <sup>(f)</sup>  | 2212 | 2254 |
| Westlake Corp. 4.375% 11/15/2047  | 448 | 354 |
|  |  | 91118 |
| **Utilities 0.30%** |  |  |
| Calpine Corp. 3.75% 3/1/2031 <sup>(f)</sup>  | 1975 | 1882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp., junior subordinated, 6.50% 6/1/2055 (5-year UST Yield Curve Rate T Note Constant Maturity <br> + 1.961% on 6/1/2035) <sup>(k)</sup>  | 1375 | 1425 |
| Commonwealth Edison Co. 4.35% 11/15/2045  | 972 | 841 |
| Commonwealth Edison Co. 3.85% 3/15/2052  | 2330 | 1779 |
| Connecticut Light and Power Co. (The) 4.95% 8/15/2034  | 1837 | 1863 |
| Consumers Energy Co. 5.05% 5/15/2035  | 525 | 534 |
| Duke Energy Indiana, LLC 3.25% 10/1/2049  | 850 | 594 |
| Duke Energy Progress, LLC 3.70% 10/15/2046  | 457 | 354 |
| Duke Energy Progress, LLC 2.50% 8/15/2050  | 202 | 122 |
| Duke Energy Progress, LLC 2.90% 8/15/2051  | 91 | 58 |
| Edison International 4.125% 3/15/2028  | 1225 | 1203 |
| Edison International 5.25% 11/15/2028  | 1537 | 1550 |
| Edison International 5.45% 6/15/2029  | 1419 | 1431 |
| Edison International 6.95% 11/15/2029  | 2280 | 2421 |
| Edison International 6.25% 3/15/2030  | 3493 | 3634 |
| Edison International 5.25% 3/15/2032  | 7445 | 7380 |
| Electricite de France SA 6.25% 5/23/2033 <sup>(f)</sup>  | 1075 | 1174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(f)(k)</sup>  | 1475 | 1711 |
| Emera US Finance, LP 3.55% 6/15/2026  | 287 | 285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exelon Corp., junior subordinated, 6.50% 3/15/2055 (5-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.975% on 3/15/2035) <sup>(k)</sup>  | 1000 | 1046 |
| FirstEnergy Transmission, LLC 2.866% 9/15/2028 <sup>(f)</sup>  | 605 | 582 |
| Ithaca Energy (North Sea) PLC 8.125% 10/15/2029 <sup>(f)</sup>  | 1000 | 1047 |
| Long Ridge Energy, LLC 8.75% 2/15/2032 <sup>(f)</sup>  | 1820 | 1872 |
| Long Ridge Energy, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.50%) 8.502% 2/19/2032 <sup>(i)(n)</sup>  | 3262 | 3189 |
| MidAmerican Energy Co. 5.85% 9/15/2054  | 875 | 923 |
| NextEra Energy Capital Holdings, Inc. 4.685% 9/1/2027  | 700 | 708 |
| Northern States Power Co. 5.40% 3/15/2054  | 175 | 174 |
| Pacific Gas and Electric Co. 2.10% 8/1/2027  | 125 | 120 |
| Pacific Gas and Electric Co. 5.00% 6/4/2028  | 450 | 456 |
| Pacific Gas and Electric Co. 6.40% 6/15/2033  | 192 | 207 |
| Pacific Gas and Electric Co. 6.95% 3/15/2034  | 4588 | 5096 |
| Pacific Gas and Electric Co. 5.70% 3/1/2035  | 5359 | 5494 |
| Pacific Gas and Electric Co. 6.00% 8/15/2035  | 4962 | 5197 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040  | 90 | 68 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 2744 | 2357 |

---

American Funds Insurance Series — Page 140 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Utilities (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | USD206 | $141 |
| PacifiCorp 5.30% 2/15/2031  | 1258 | 1305 |
| PacifiCorp 5.45% 2/15/2034  | 796 | 816 |
| PacifiCorp 5.35% 12/1/2053  | 3298 | 3045 |
| PacifiCorp 5.80% 1/15/2055  | 575 | 564 |
| Public Service Electric and Gas Co. 3.60% 12/1/2047  | 548 | 421 |
| Saavi Energia SARL 8.875% 2/10/2035 <sup>(f)</sup>  | 1495 | 1611 |
| Southern California Edison Co. 2.85% 8/1/2029  | 3988 | 3737 |
| Southern California Edison Co. 2.50% 6/1/2031  | 260 | 231 |
| Southern California Edison Co. 5.45% 6/1/2031  | 2240 | 2308 |
| Southern California Edison Co. 5.20% 6/1/2034  | 2260 | 2248 |
| Southern California Edison Co. 5.75% 4/1/2035  | 605 | 625 |
| Southern California Edison Co. 5.35% 7/15/2035  | 2688 | 2702 |
| Southern California Edison Co. 3.65% 2/1/2050  | 693 | 485 |
| Southern California Edison Co. 6.20% 9/15/2055  | 128 | 129 |
| Talen Energy Supply, LLC 8.625% 6/1/2030 <sup>(f)</sup>  | 400 | 425 |
| Virginia Electric & Power 2.40% 3/30/2032  | 2307 | 2039 |
| Wisconsin Electric Power Co. 4.15% 10/15/2030  | 700 | 697 |
| Xcel Energy, Inc. 5.50% 3/15/2034  | 285 | 294 |
| XPLR Infrastructure Operating Partners, LP 8.375% 1/15/2031 <sup>(f)</sup>  | 1150 | 1206 |
|  |  | 83806 |
| **Total corporate bonds, notes & loans** |  | 2031661 |
| **Asset-backed obligations 1.96%**<br> **Auto loan 0.91%**<br>|  |  |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class A, 5.76% 11/12/2027 <sup>(f)(h)</sup>  | 333 | 333 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class A, 4.81% 3/13/2028 <sup>(f)(h)</sup>  | 219 | 219 |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class B, 5.66% 8/14/2028 <sup>(f)(h)</sup>  | 1328 | 1333 |
| American Credit Acceptance Receivables Trust, Series 2025-2, Class B, 4.85% 5/14/2029 <sup>(f)(h)</sup>  | 232 | 233 |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class C, 5.73% 7/12/2030 <sup>(f)(h)</sup>  | 3332 | 3373 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class C, 4.91% 8/12/2031 <sup>(f)(h)</sup>  | 1005 | 1010 |
| AutoNation Finance Trust 2025-1, Series 2025-1A, Class A2, 4.72% 4/10/2028 <sup>(f)(h)</sup>  | 254 | 255 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/2027 <sup>(f)(h)</sup>  | 16870 | 16782 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/2027 <sup>(f)(h)</sup>  | 115 | 115 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class A, 1.38% 8/20/2027 <sup>(f)(h)</sup>  | 10410 | 10214 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-5, Class A, 5.78% 4/20/2028 <sup>(f)(h)</sup>  | 29013 | 29642 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/2029 <sup>(f)(h)</sup>  | 4960 | 5173 |
| BofA Auto Trust, Series 2024-1, Class A3, 5.35% 11/15/2028 <sup>(f)(h)</sup>  | 2470 | 2495 |
| Bridgecrest Lending Auto Securitization Trust, Series 2025-1, Class A2, 4.71% 9/15/2027 <sup>(h)</sup>  | 401 | 401 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class A2, 4.84% 9/15/2027 <sup>(h)</sup>  | 295 | 295 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-3, Class A3, 5.34% 4/17/2028 <sup>(h)</sup>  | 1765 | 1769 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class A3, 4.72% 9/15/2028 <sup>(h)</sup>  | 955 | 957 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class B, 4.77% 8/15/2030 <sup>(h)</sup>  | 1679 | 1686 |
| CarMax Auto Owner Trust, Series 2024-2, Class A2A, 5.65% 5/17/2027 <sup>(h)</sup>  | 815 | 816 |
| CarMax Auto Owner Trust, Series 2024-3, Class A3, 4.89% 7/16/2029 <sup>(h)</sup>  | 8604 | 8709 |
| CarMax Select Receivables Trust, Series 2024-A, Class A2A, 5.78% 9/15/2027 <sup>(h)</sup>  | 422 | 423 |
| Chase Auto Owner Trust, Series 2024-2, Class A2, 5.66% 5/26/2027 <sup>(f)(h)</sup>  | 283 | 283 |
| Chase Auto Owner Trust, Series 2024-4A, Class A2, 5.25% 9/27/2027 <sup>(f)(h)</sup>  | 1313 | 1315 |
| Chase Auto Owner Trust, Series 2024-3, Class A2, 5.53% 9/27/2027 <sup>(f)(h)</sup>  | 1148 | 1150 |
| Chase Auto Owner Trust, Series 2024-4A, Class A3, 4.94% 7/25/2029 <sup>(f)(h)</sup>  | 5309 | 5368 |
| Chase Auto Owner Trust, Series 2024-3, Class A3, 5.22% 7/25/2029 <sup>(f)(h)</sup>  | 4257 | 4317 |
| CPS Auto Receivables Trust, Series 2024-C, Class A, 5.88% 2/15/2028 <sup>(f)(h)</sup>  | 530 | 532 |
| Credit Acceptance Auto Loan Trust, Series 2023-3, Class A, 6.39% 8/15/2033 <sup>(f)(h)</sup>  | 1743 | 1754 |

---

American Funds Insurance Series — Page 141 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Asset-backed obligations (continued)**<br> **Auto loan (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Enterprise Fleet Financing, LLC, Series 2024-2, Class A2, 5.74% 12/20/2026 <sup>(f)(h)</sup>  | USD498 | $501 |
| Enterprise Fleet Financing, LLC, Series 2024-3, Class A2, 5.31% 4/20/2027 <sup>(f)(h)</sup>  | 2400 | 2413 |
| Enterprise Fleet Financing, LLC, Series 2022-3, Class A2, 4.38% 7/20/2029 <sup>(f)(h)</sup>  | 333 | 333 |
| Enterprise Fleet Financing, LLC, Series 2022-4, Class A2, 5.76% 10/22/2029 <sup>(f)(h)</sup>  | 895 | 899 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class A2, 4.70% 9/15/2027 <sup>(h)</sup>  | 970 | 971 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class A3, 4.67% 8/15/2028 <sup>(h)</sup>  | 930 | 932 |
| Ford Credit Auto Owner Trust, Series 2023-2, Class A, 5.28% 2/15/2036 <sup>(f)(h)</sup>  | 5998 | 6194 |
| Ford Credit Auto Owner Trust, Series 2024-1, Class A, 4.87% 8/15/2036 <sup>(f)(h)(i)</sup>  | 13442 | 13780 |
| Ford Credit Floorplan Master Owner Trust, Series 2024-3, Class A1, 4.30% 9/15/2029 <sup>(f)(h)</sup>  | 3235 | 3252 |
| GLS Auto Receivables Trust, Series 2025-2A, Class A2, 4.75% 3/15/2028 <sup>(f)(h)</sup>  | 500 | 501 |
| GLS Auto Select Receivables Trust, Series 2024-4A, Class A2, 4.43% 12/17/2029 <sup>(f)(h)</sup>  | 781 | 783 |
| GLS Auto Select Receivables Trust, Series 2025-1A, Class A2, 4.71% 4/15/2030 <sup>(f)(h)</sup>  | 711 | 716 |
| GM Financial Automobile Leasing Trust, Series 2023-3, Class A3, 5.38% 11/20/2026 <sup>(h)</sup>  | 355 | 356 |
| GM Financial Revolving Receivables Trust, Series 2023-2, Class A, 5.77% 8/11/2036 <sup>(f)(h)</sup>  | 8654 | 9083 |
| GM Financial Revolving Receivables Trust, Series 2024-2, Class A, 4.52% 3/11/2037 <sup>(f)(h)</sup>  | 6768 | 6861 |
| GM Financial Securitized Term Auto Receivables Trust, Series 2024-1, Class A3, 4.85% 12/18/2028 <sup>(h)</sup>  | 2126 | 2140 |
| Hertz Vehicle Financing III, LLC, Series 2022-2A, Class A, 2.33% 6/26/2028 <sup>(f)(h)</sup>  | 4391 | 4266 |
| Hertz Vehicle Financing III, LLC, Series 2022-5A, Class A, 3.89% 9/25/2028 <sup>(f)(h)</sup>  | 4445 | 4415 |
| Hertz Vehicle Financing III, LLC, Series 2023-4, Class A, 6.15% 3/25/2030 <sup>(f)(h)</sup>  | 4585 | 4800 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027 <sup>(f)(h)</sup>  | 10307 | 10051 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027 <sup>(f)(h)</sup>  | 685 | 666 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class C, 2.52% 12/27/2027 <sup>(f)(h)</sup>  | 429 | 418 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class A, 5.44% 1/25/2029 <sup>(f)(h)</sup>  | 4771 | 4874 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class A, 4.91% 9/25/2029 <sup>(f)(h)</sup>  | 1616 | 1633 |
| Hertz Vehicle Financing, LLC, Series 2025-3A, Class A, 5.06% 12/26/2029 <sup>(f)(h)</sup>  | 1250 | 1271 |
| Honda Auto Receivables Owner Trust, Series 2023-1, Class A3, 5.04% 4/21/2027 <sup>(h)</sup>  | 392 | 393 |
| Hyundai Auto Receivables Trust, Series 2024-A, Class A3, 4.99% 2/15/2029 <sup>(h)</sup>  | 3187 | 3220 |
| LAD Auto Receivables Trust, Series 2024-3A, Class A2, 4.64% 11/15/2027 <sup>(f)(h)</sup>  | 979 | 980 |
| LAD Auto Receivables Trust, Series 2023-4, Class A3, 6.10% 12/15/2027 <sup>(f)(h)</sup>  | 811 | 813 |
| LAD Auto Receivables Trust, Series 2024-3A, Class A3, 4.52% 3/15/2029 <sup>(f)(h)</sup>  | 954 | 958 |
| LAD Auto Receivables Trust, Series 2024-3A, Class A4, 4.60% 12/17/2029 <sup>(f)(h)</sup>  | 504 | 508 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2025-4A, Class A2, 5.124% 4/25/2034 <sup>(f)(h)</sup>  | 1318 | 1325 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class A3, 5.25% 4/17/2028 <sup>(h)</sup>  | 349 | 350 |
| Santander Drive Auto Receivables Trust, Series 2024-2, Class A3, 5.63% 11/15/2028 <sup>(h)</sup>  | 4512 | 4532 |
| Santander Drive Auto Receivables Trust, Series 2023-4, Class B, 5.77% 12/15/2028 <sup>(h)</sup>  | 5062 | 5123 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class A3, 4.85% 1/16/2029 <sup>(h)</sup>  | 5394 | 5414 |
| SBNA Auto Lease Trust, Series 2024-A, Class A3, 5.39% 11/20/2026 <sup>(f)(h)</sup>  | 1772 | 1777 |
| SBNA Auto Lease Trust, Series 2024-B, Class A2, 5.67% 11/20/2026 <sup>(f)(h)</sup>  | 27 | 27 |
| SBNA Auto Lease Trust, Series 2024-B, Class A3, 5.56% 11/22/2027 <sup>(f)(h)</sup>  | 1265 | 1274 |
| SFS Auto Receivables Securitization Trust, Series 2024-3A, Class A2, 4.71% 5/22/2028 <sup>(f)(h)</sup>  | 1034 | 1036 |
| SFS Auto Receivables Securitization Trust, Series 2023-1, Class A3, 5.47% 10/20/2028 <sup>(f)(h)</sup>  | 2264 | 2281 |
| SFS Auto Receivables Securitization Trust, Series 2025-2A, Class A2, 4.52% 11/20/2028 <sup>(f)(h)</sup>  | 504 | 505 |
| SFS Auto Receivables Securitization Trust, Series 2024-3A, Class A3, 4.55% 6/20/2030 <sup>(f)(h)</sup>  | 2966 | 2984 |
| Toyota Auto Loan Extended Note Trust, Series 2021-1, Class A, 1.07% 2/27/2034 <sup>(f)(h)</sup>  | 6503 | 6422 |
| Toyota Auto Receivables Owner Trust, Series 2023-C, Class A3, 5.16% 4/17/2028 <sup>(h)</sup>  | 3742 | 3766 |
| Toyota Auto Receivables Owner Trust, Series 2023-C, Class A4, 5.01% 2/15/2029 <sup>(h)</sup>  | 1822 | 1849 |
| Truist Bank Auto Credit-Linked Notes, Series 2025-1, Class B, 4.728% 9/26/2033 <sup>(f)(h)</sup>  | 1020 | 1022 |
| United Auto Credit Securitization Trust, Series 2025-1, Class A, 4.80% 6/10/2027 <sup>(f)(h)</sup>  | 281 | 281 |
| Westlake Automobile Receivables Trust, Series 2025-1A, Class A2A, 4.66% 1/18/2028 <sup>(f)(h)</sup>  | 5164 | 5173 |
| Westlake Automobile Receivables Trust, Series 2025-P1, Class A2, 4.65% 2/15/2028 <sup>(f)(h)</sup>  | 376 | 377 |
| Westlake Automobile Receivables Trust, Series 2024-3A, Class A3, 4.71% 4/17/2028 <sup>(f)(h)</sup>  | 2142 | 2154 |
| Westlake Automobile Receivables Trust, Series 2025-2A, Class A2A, 4.66% 9/15/2028 <sup>(f)(h)</sup>  | 1052 | 1055 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class B, 5.92% 9/15/2028 <sup>(f)(h)</sup>  | 2504 | 2516 |
| Westlake Automobile Receivables Trust, Series 2024-3A, Class B, 4.72% 11/15/2029 <sup>(f)(h)</sup>  | 6520 | 6545 |

---

American Funds Insurance Series — Page 142 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Asset-backed obligations (continued)**<br> **Auto loan (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Westlake Automobile Receivables Trust, Series 2025-1A, Class C, 5.14% 10/15/2030 <sup>(f)(h)</sup>  | USD1,973 | $1999 |
| World OMNI Select Auto Trust, Series 2024-A, Class A2A, 5.37% 2/15/2028 <sup>(h)</sup>  | 1195 | 1197 |
| World OMNI Select Auto Trust, Series 2024-A, Class A3, 4.98% 2/15/2030 <sup>(h)</sup>  | 4623 | 4653 |
|  |  | 255570 |
| **Other asset-backed securities 0.76%** |  |  |
| Affirm Asset Securitization Trust, Series 2024-B, Class A, 4.62% 9/15/2029 <sup>(f)(h)</sup>  | 10457 | 10498 |
| Affirm Master Trust, Series 2025-3A, Class A, 4.45% 10/16/2034 <sup>(f)(h)</sup>  | 1923 | 1922 |
| Affirm, Inc., Series 2024-A, Class A, 5.61% 2/15/2029 <sup>(f)(h)</sup>  | 2962 | 2976 |
| Affirm, Inc., Series 2024-X2, Class A, 5.22% 12/17/2029 <sup>(f)(h)</sup>  | 479 | 479 |
| APL Finance, LLC, Series 2025-1A, Class A, 5.39% 3/20/2036 <sup>(f)(h)</sup>  | 2265 | 2265 |
| Apollo Aviation Securitization Equity Trust, Series 2025-2A, Class A, 5.522% 2/16/2050 <sup>(f)(h)</sup>  | 3843 | 3891 |
| Bankers Healthcare Group Securitization Trust, Series 2021-A, Class A, 1.42% 11/17/2033 <sup>(f)(h)</sup>  | 84 | 83 |
| CAL Funding IV, Ltd., Series 2020-1A, Class A, 2.22% 9/25/2045 <sup>(f)(h)</sup>  | 859 | 820 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 5/11/2037 <sup>(f)(h)</sup>  | 4068 | 3796 |
| Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 8/15/2041 <sup>(f)(h)</sup>  | 48 | 48 |
| Castlelake Aircraft Securitization Trust, Series 2025-1A, Class A, 5.783% 2/15/2050 <sup>(f)(h)</sup>  | 4621 | 4699 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060 <sup>(f)(h)</sup>  | 5117 | 4423 |
| CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/2060 <sup>(f)(h)</sup>  | 1699 | 1443 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061 <sup>(f)(h)</sup>  | 6006 | 5030 |
| CLI Funding VI, LLC, Series 2020-2A, Class A, 2.03% 9/15/2045 <sup>(f)(h)</sup>  | 920 | 863 |
| CLI Funding VI, LLC, Series 2020-1A, Class A, 2.08% 9/18/2045 <sup>(f)(h)</sup>  | 3474 | 3256 |
| CLI Funding VI, LLC, Series 2020-3A, Class A, 2.07% 10/18/2045 <sup>(f)(h)</sup>  | 728 | 684 |
| CLI Funding VIII, LLC, Series 2021-1A, Class A, 1.64% 2/18/2046 <sup>(f)(h)</sup>  | 994 | 920 |
| CNH Equipment Trust, Series 2024-B, Class A2A, 5.42% 10/15/2027 <sup>(h)</sup>  | 1147 | 1150 |
| Daimler Trucks Retail Trust, Series 2024-1, Class A3, 5.49% 12/15/2027 <sup>(h)</sup>  | 3232 | 3263 |
| EDvestinU Private Education Loan, LLC, Series 2021-A, Class A, 1.80% 11/25/2045 <sup>(f)(h)</sup>  | 204 | 191 |
| EquipmentShare, Series 2024-2M, Class A, 5.70% 12/20/2032 <sup>(f)(h)</sup>  | 2479 | 2519 |
| EquipmentShare, Series 2025-1M, Class A, 5.48% 9/26/2033 <sup>(f)(h)</sup>  | 894 | 904 |
| GCI Funding I, LLC, Series 2020-1, Class A, 2.82% 10/18/2045 <sup>(f)(h)</sup>  | 402 | 383 |
| GCI Funding I, LLC, Series 2020-1, Class B, 3.81% 10/18/2045 <sup>(f)(h)</sup>  | 181 | 172 |
| Global SC Finance SRL, Series 2025-1H, Class A, 6.169% 9/20/2045 <sup>(f)(h)</sup>  | 6282 | 6294 |
| Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 8/17/2039 <sup>(f)(h)</sup>  | 1435 | 1399 |
| Global SC Finance V SRL, Series 2020-1A, Class A, 2.17% 10/17/2040 <sup>(f)(h)</sup>  | 6149 | 5899 |
| Global SC Finance VII SRL, Series 2020-2A, Class A, 2.26% 11/19/2040 <sup>(f)(h)</sup>  | 7807 | 7466 |
| Global SC Finance VII SRL, Series 2021-1A, Class A, 1.86% 4/17/2041 <sup>(f)(h)</sup>  | 2640 | 2460 |
| Global SC Finance VII SRL, Series 2021-2A, Class A, 1.95% 8/17/2041 <sup>(f)(h)</sup>  | 3901 | 3663 |
| Global SC Finance VII SRL, Series 2021-2A, Class B, 2.49% 8/17/2041 <sup>(f)(h)</sup>  | 309 | 287 |
| Horizon Aircraft Finance, Series 2024-1, Class A, 5.375% 9/15/2049 <sup>(f)(h)</sup>  | 2486 | 2516 |
| John Deere Owner Trust, Series 2024-A, Class A3, 4.96% 11/15/2028 <sup>(h)</sup>  | 2894 | 2926 |
| MMP Capital, Series 2025-A, Class A, 5.36% 12/15/2031 <sup>(f)(h)</sup>  | 137 | 138 |
| Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 11/15/2046 <sup>(f)(h)</sup>  | 4760 | 4521 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(f)(h)</sup>  | 26263 | 21994 |
| NMEF Funding, LLC, Series 2025-B, Class A2, 4.64% 1/18/2033 <sup>(f)(h)</sup>  | 677 | 680 |
| PEAC Solutions Receivables, LLC, Series 2025-1A, Class A2, 4.94% 10/20/2028 <sup>(f)(h)</sup>  | 1069 | 1078 |
| PFS Financing Corp., Series 2023-B, Class A, 5.27% 5/15/2028 <sup>(f)(h)</sup>  | 5298 | 5333 |
| PG&E Wildfire Recovery Funding, LLC, Series 2022-A, Class A2, 4.263% 6/1/2036 <sup>(h)</sup>  | 2442 | 2336 |
| PK ALIFT Loan Funding, Series 2025-2, Class A, 4.75% 3/15/2043 <sup>(f)(h)</sup>  | 428 | 429 |
| PK ALIFT Loan Funding 3, LP, Series 2024-1, Class A1, 5.842% 9/15/2039 <sup>(f)(h)</sup>  | 745 | 763 |
| PK ALIFT Loan Funding 3, LP, Series 2024-1, Class AF, (1-month USD CME Term SOFR + 1.70%) 5.85% 9/15/2039 <br> <sup>(f)(h)(i)</sup>  | 547 | 550 |
| SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 2.636% 10/15/2046 <sup>(f)(h)</sup>  | 2651 | 2507 |
| SPRITE, Ltd., Series 2021-1, Class A, 3.75% 11/15/2046 <sup>(f)(h)</sup>  | 1860 | 1810 |
| Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 10/15/2041 <sup>(f)(h)</sup>  | 1607 | 1593 |

---

American Funds Insurance Series — Page 143 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Asset-backed obligations (continued)**<br> **Other asset-backed securities (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/2033 <sup>(f)(h)</sup>  | USD880 | $851 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class A, 2.675% 2/28/2033 <sup>(f)(h)</sup>  | 719 | 694 |
| Subway Funding, LLC, Series 2024-3, Class A2I, 5.246% 7/30/2054 <sup>(f)(h)</sup>  | 5239 | 5249 |
| Subway Funding, LLC, Series 2024-3A, Class A2II, 5.566% 7/30/2054 <sup>(f)(h)</sup>  | 6185 | 6219 |
| SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 9/15/2075 <sup>(f)(h)</sup>  | 1260 | 1225 |
| Synchrony Card Issuance Trust, Series 2023-A, Class A, 5.54% 7/15/2029 <sup>(h)</sup>  | 2840 | 2873 |
| Synchrony Card Issuance Trust, Series 2025-A1, Class A, 4.78% 2/18/2031 <sup>(h)</sup>  | 4155 | 4231 |
| TAL Advantage V, LLC, Series 2020-1A, Class A, 2.05% 9/20/2045 <sup>(f)(h)</sup>  | 1132 | 1077 |
| Textainer Marine Containers, Ltd., Series 2020-2A, Class A, 2.10% 9/20/2045 <sup>(f)(h)</sup>  | 525 | 494 |
| Textainer Marine Containers, Ltd., Series 2021-1, Class A, 1.68% 2/20/2046 <sup>(f)(h)</sup>  | 686 | 640 |
| Textainer Marine Containers, Ltd., Series 2021-2A, Class A, 2.23% 4/20/2046 <sup>(f)(h)</sup>  | 1985 | 1864 |
| Textainer Marine Containers, Ltd., Series 2025-1H, Class A, 6.43% 7/23/2050 <sup>(f)(h)</sup>  | 2070 | 2077 |
| T-Mobile US Trust, Series 2024-1, Class A, 5.05% 9/20/2029 <sup>(f)(h)</sup>  | 5582 | 5634 |
| Triton Container Finance VIII, LLC, Series 2020-1, Class A, 2.11% 9/20/2045 <sup>(f)(h)</sup>  | 7355 | 6900 |
| Triton Container Finance VIII, LLC, Series 2021-1, Class A, 1.86% 3/20/2046 <sup>(f)(h)</sup>  | 1322 | 1223 |
| U.S. Bank National Association, Series 2025-SUP2, Class B1, 4.818% 9/25/2032 <sup>(f)(h)</sup>  | 1807 | 1809 |
| Verdant Receivables, LLC, Series 2025-1A, Class A2, 4.85% 3/13/2028 <sup>(f)(h)</sup>  | 649 | 653 |
| Verdant Receivables, LLC, Series 2024-1, Class A2, 5.68% 12/12/2031 <sup>(f)(h)</sup>  | 1046 | 1066 |
| Verizon Master Trust, Series 2024-1, Class A1A, 5.00% 12/20/2028 <sup>(h)</sup>  | 3846 | 3853 |
| Verizon Master Trust, Series 2023-1, Class A, 4.49% 1/22/2029 (5.24% on 1/20/2026) <sup>(h)(k)</sup>  | 6704 | 6712 |
| Verizon Master Trust, Series 2024-3, Class A1A, 5.34% 4/22/2030 <sup>(h)</sup>  | 9409 | 9620 |
| Verizon Master Trust, Series 2023-3, Class A, 4.73% 4/21/2031 <sup>(f)(h)</sup>  | 8048 | 8201 |
| Verizon Master Trust, Series 2025-7, Class A1A, 3.96% 8/20/2031 <sup>(h)</sup>  | 4253 | 4251 |
| Verizon Master Trust, Series 24-5, Class A, 5.00% 6/21/2032 <sup>(f)(h)</sup>  | 934 | 964 |
| Volvo Financial Equipment, LLC, Series 2025-1A, Class A2, 4.41% 11/15/2027 <sup>(f)(h)</sup>  | 1928 | 1933 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class A2, 4.99% 9/20/2032 <sup>(f)(h)</sup>  | 474 | 477 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class A2, 4.33% 9/20/2033 <sup>(f)(h)</sup>  | 137 | 137 |
|  |  | 214247 |
| **Credit card 0.13%** |  |  |
| Avant Credit Card Master Trust, Series 2024-2A, Class A, 5.38% 5/15/2029 <sup>(f)(h)</sup>  | 8500 | 8521 |
| Avant Credit Card Master Trust, Series 2024-2A, Class B, 5.73% 5/15/2029 <sup>(f)(h)</sup>  | 4100 | 4117 |
| Avant Credit Card Master Trust, Series 2024-2A, Class C, 6.41% 5/15/2029 <sup>(f)(h)</sup>  | 2715 | 2736 |
| Barclays Dryrock Issuance Trust, Series 2025-1, Class A, 3.97% 7/15/2031 <sup>(h)</sup>  | 4171 | 4162 |
| First National Master Note Trust, Series 2025-1, Class A, 4.85% 2/15/2030 <sup>(h)</sup>  | 4558 | 4649 |
| First National Master Note Trust, Series 2024-1, Class A, 5.34% 5/15/2030 <sup>(h)</sup>  | 3970 | 4057 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class A, 4.78% 12/16/2030 <sup>(f)(h)</sup>  | 404 | 405 |
| World Financial Network Credit Card Master Trust, Series 2023-A, Class A, 5.02% 3/15/2030 <sup>(h)</sup>  | 7030 | 7070 |
|  |  | 35717 |
| **Collateralized loan obligations 0.08%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ballyrock, Ltd., CLO, Series 2019-2A, Class A1R, (3-month USD CME Term SOFR + 1.40%) 5.604% <br>2/20/2036 <sup>(f)(h)(i)</sup>  | 7810 | 7820 |
| Flatiron CLO, Ltd., Series 2024-1A, Class A1R, (3-month USD CME Term SOFR + 1.08%) 5.333% 7/15/2036 <sup>(f)(h)(i)</sup>  | 3240 | 3244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon CLO, Ltd., Series 2019-2A, Class A1R2, (3-month USD CME Term SOFR + 0.95%) 5.275% <br>1/20/2033 <sup>(f)(h)(i)</sup>  | 3274 | 3262 |
| Newark BSL CLO 2, Ltd., Series 2017-1A, Class A1R, (3-month USD CME Term SOFR + 1.232%) 5.55% 7/25/2030 <br> <sup>(f)(h)(i)</sup>  | 623 | 624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Palmer Square Loan Funding, Ltd., Series 2024-2A, Class A1N, (3-month USD CME Term SOFR + 1.00%) 5.318% <br> 1/15/2033 <sup>(f)(h)(i)</sup>  | 3909 | 3909 |

---

American Funds Insurance Series — Page 144 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Asset-backed obligations (continued)**<br> **Collateralized loan obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thompson Park CLO, Ltd., Series 2021-1A, Class A1R, (3-month USD CME Term SOFR + 1.05%) 5.368% <br> 4/15/2034 <sup>(f)(h)(i)</sup>  | USD3,229 | $3232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trinitas CLO, Ltd., Series 2020-12A, Class A1R2, (3-month USD CME Term SOFR + 1.05%) 5.309% <br>4/25/2033 <sup>(f)(h)(i)</sup>  | 1500 | 1504 |
|  |  | 23595 |
| **Student loan 0.08%** |  |  |
| Navient Education Loan Trust, Series 2025-A, Class A, 5.02% 7/15/2055 <sup>(f)(h)</sup>  | 2645 | 2674 |
| Navient Student Loan Trust, Series 2021-CA, Class A, 1.06% 10/15/2069 <sup>(f)(h)</sup>  | 2637 | 2406 |
| Navient Student Loan Trust, Series 2021-G, Class A, 1.58% 4/15/2070 <sup>(f)(h)</sup>  | 3402 | 3078 |
| Nelnet Student Loan Trust, Series 2021-CA, Class AFX, 1.32% 4/20/2062 <sup>(f)(h)</sup>  | 4558 | 4273 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062 <sup>(f)(h)</sup>  | 2846 | 2688 |
| Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 4/20/2062 <sup>(f)(h)</sup>  | 4817 | 4560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SMB Private Education Loan Trust, Series 2021-A, Class A2A2, (1-month USD CME Term SOFR + 0.844%) 4.995% <br> 1/15/2053 <sup>(f)(h)(i)</sup>  | 3670 | 3638 |
|  |  | 23317 |
| **Total asset-backed obligations** |  | 552446 |
| **Bonds & notes of governments & government agencies outside the U.S. 0.21%**<br> **Canada 0.07%**<br>|  |  |
| CPPIB Capital, Inc. 2.75% 11/2/2027 <sup>(f)</sup>  | 5914 | 5791 |
| OMERS Finance Trust 3.50% 4/19/2032 <sup>(f)</sup>  | 3867 | 3712 |
| OMERS Finance Trust 4.00% 4/19/2052 <sup>(f)</sup>  | 3867 | 3046 |
| Ontario (Province of) 3.90% 9/4/2030  | 8228 | 8235 |
|  |  | 20784 |
| **Mexico 0.06%** |  |  |
| Eagle Funding LuxCo SARL 5.50% 8/17/2030 <sup>(f)</sup>  | 3930 | 3992 |
| United Mexican States 4.75% 4/27/2032  | 2305 | 2258 |
| United Mexican States 5.375% 3/22/2033  | 1295 | 1296 |
| United Mexican States 3.50% 2/12/2034  | 1790 | 1559 |
| United Mexican States 6.875% 5/13/2037  | 2720 | 2940 |
| United Mexican States 6.625% 1/29/2038  | 200 | 211 |
| United Mexican States 7.375% 5/13/2055  | 4235 | 4661 |
| United Mexican States 3.771% 5/24/2061  | 1528 | 967 |
|  |  | 17884 |
| **State of Kuwait 0.03%** |  |  |
| Kuwait (State of) 4.652% 10/9/2035 <sup>(f)</sup>  | 6750 | 6750 |
| **Peru 0.02%** |  |  |
| Peru (Republic of) 1.862% 12/1/2032  | 2525 | 2088 |
| Peru (Republic of) 5.875% 8/8/2054  | 2310 | 2325 |
| Peru (Republic of) 2.78% 12/1/2060  | 3383 | 1897 |
|  |  | 6310 |
| **Panama 0.02%** |  |  |
| Panama (Republic of) 7.50% 3/1/2031  | 1765 | 1943 |
| Panama (Republic of) 2.252% 9/29/2032  | 4306 | 3494 |
|  |  | 5437 |

---

American Funds Insurance Series — Page 145 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Bonds & notes of governments & government agencies outside the U.S. (continued)**<br> **Qatar 0.01%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Qatar (State of) 4.00% 3/14/2029 <sup>(f)</sup>  | USD745 | $748 |
| Qatar (State of) 4.817% 3/14/2049 <sup>(f)</sup>  | 750 | 717 |
|  |  | 1465 |
| **Total bonds & notes of governments & government agencies outside the U.S.** |  | 58630 |
| **Municipals 0.08%**<br> **Florida 0.03%**<br>|  |  |
| Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 1.705% 7/1/2027  | 4781 | 4605 |
| Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 2.154% 7/1/2030  | 4808 | 4402 |
|  |  | 9007 |
| **Illinois 0.01%** |  |  |
| GO Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033  | 3224 | 3290 |
| **Ohio 0.02%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cleveland-Cuyahoga Port Auth., Federal Lease Rev. Bonds (VA Cleveland Health Care Center Project), Series <br> 2021, 4.425% 5/1/2031  | 4945 | 4460 |
| **Puerto Rico 0.00%** |  |  |
| GO Taxable Bonds, CAB, Series 2022, 0% 11/1/2051  | 451 | 305 |
| **Wisconsin 0.02%** |  |  |
| Public Fin. Auth., Federal Lease Rev. Bonds (Fort Sam Acquisition Fncg.), Series 2022, 4.95% 3/1/2034  | 5750 | 5691 |
| **Total municipals** |  | 22753 |
| **Total bonds, notes & other debt instruments** (cost: $8,084,903,000) |  | 8042149 |
| Investment funds 2.99% |  |  |
| Capital Group Central Corporate Bond Fund <sup>(p)</sup> <br>| 98469657 | 840931 |
| **Total investment funds** (cost: $854,958,000) |  | 840931 |
| Short-term securities 5.76%<br> **Money market investments 5.74%**<br>| Shares |  |
| Capital Group Central Cash Fund 4.17% <sup>(p)(q)</sup>  | 16170523 | 1617053 |
| **Money market investments purchased with collateral from securities on loan 0.02%** |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(q)(r)</sup>  | 3793215 | 3793 |
| **Total short-term securities** (cost: $1,620,668,000) |  | 1620846 |
| **Total investment securities 101.85%** (cost: $20,783,317,000) |  | 28684945 |
| **Other assets less liabilities (1.85)%** |  | (520713)<br>|
| **Net assets 100.00%** |  | $28164232 |

---

American Funds Insurance Series — Page 146 of 319

------

**unaudited**

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&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;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 9924 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD2,068,146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $701 |
| 5 Year U.S. Treasury Note Futures | Long | 4485 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (334)<br>|
| 10 Year U.S. Treasury Note Futures | Long | 3347 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 234 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26928)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (260)<br>|
| 20 Year U.S. Treasury Note Futures | Long | 1364 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2094 |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 749 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (89927)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1192)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $3032 |

---

Swap contracts

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| SOFR | Annual | 3.473% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2032 | USD112,900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $91 |
| SOFR | Annual | 3.4805% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2032 | 37800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 |
| SOFR | Annual | 3.48% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2032 | 12601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| SOFR | Annual | 3.482% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2032 | 12286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| SOFR | Annual | 3.4815% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2032 | 12612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| SOFR | Annual | 3.6385% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2035 | 55884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $188 |

---

**Credit default swaps** 

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | USD1,680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(38)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(37)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1)<br>|
| CDX.NA.HY.44 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | 35825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2855)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2183)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (672)<br>|
| CDX.NA.IG.45 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | 2281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (52)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (51)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2945)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2271)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(674)<br>|

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Investment funds 2.99%** | **Investment funds 2.99%** | **Investment funds 2.99%** | **Investment funds 2.99%** | **Investment funds 2.99%** | **Investment funds 2.99%** | **Investment funds 2.99%** | **Investment funds 2.99%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Corporate Bond Fund  | $1368034 | &nbsp;&nbsp; $86122 | &nbsp;&nbsp; $634718 | &nbsp;&nbsp; $(136730)<br>| &nbsp;&nbsp; $158223 | &nbsp;&nbsp; $840931 | &nbsp;&nbsp; $37984 |

---

American Funds Insurance Series — Page 147 of 319

------

**unaudited**

Investments in affiliates <sup>(p)</sup> (continued)

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at<br> 1/1/2025<br> (000)<br>| Additions<br> (000)<br>| Reductions<br> (000)<br>| Net<br> realized<br> gain (loss)<br> (000)<br>| Net<br> unrealized<br> appreciation<br> (depreciation)<br> (000)<br>| Value at<br> 9/30/2025<br> (000)<br>| Dividend<br> or interest<br> income<br> (000)<br>|
| **Short-term securities 5.74%** | **Short-term securities 5.74%** | **Short-term securities 5.74%** | **Short-term securities 5.74%** | **Short-term securities 5.74%** | **Short-term securities 5.74%** | **Short-term securities 5.74%** | **Short-term securities 5.74%** |
| **Money market investments 5.74%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(q)</sup> <br>| $855747 | &nbsp;&nbsp; $5370246 | &nbsp;&nbsp; $4608967 | &nbsp;&nbsp; $64 | &nbsp;&nbsp; $(37)<br>| &nbsp;&nbsp; $1617053 | &nbsp;&nbsp; $46759 |
| **Total 8.73%** |  |  |  | &nbsp;&nbsp; $(136666)<br>| &nbsp;&nbsp; $158186 | &nbsp;&nbsp; $2457984 | &nbsp;&nbsp; $84743 |

---

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

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Rotech Healthcare, Inc. <sup>(a)(c)</sup> <br>| 8/22/2014 | $6949 | $13289 | 0.05<br> %<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) <br> 11.288% 9/13/2029 <sup>(i)(n)</sup> <br>| 9/13/2023 | 719 | 736 | 0.00 <br><sup>(s)</sup><br>|
| **Total** |  | $7668 | $14025 | 0.05<br> %<br>|

---

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

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

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

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

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

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

<sup>(f)</sup> 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 $1,530,196,000, which represented 5.43% of the net assets of the fund. 

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

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

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

<sup>(l)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $23,969,000, which represented 0.09% of the net assets of the fund. 

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

<sup>(n)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $39,351,000, which represented 0.14% of the net assets of the fund. 

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

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

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

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

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

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| Assn. = Association |
| Auth. = Authority |
| CAB = Capital Appreciation Bonds |
| CAD = Canadian dollars |
| CLO = Collateralized Loan Obligations |
| CME = CME Group |
| CMO = Collateralized Mortgage Obligations |
| DAC = Designated Activity Company |
| Fin. = Finance |
| Fncg. = Financing |

---

---

| |
|:---|
| GBP = British pounds |
| GO = General Obligation |
| NDR = Norwegian Depositary Receipts |
| PIK = Payment In Kind |
| REIT = Real Estate Investment Trust |
| Rev. = Revenue |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

American Funds Insurance Series — Page 148 of 319

------

**American Funds Global Balanced Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 62.18%<br> **Information technology 11.73%**<br>| Shares | Value<br> (000)<br>|
| Broadcom, Inc.  | 38982 | $12861 |
| Microsoft Corp.  | 21445 | 11107 |
| NVIDIA Corp.  | 50904 | 9498 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 200000 | 8564 |
| Apple, Inc.  | 9669 | 2462 |
| Corning, Inc.  | 26636 | 2185 |
| Accenture PLC, Class A  | 6681 | 1647 |
| Microchip Technology, Inc.  | 22150 | 1422 |
| ARM Holdings PLC (ADR) <sup>(a)</sup>  | 9717 | 1375 |
| Applied Materials, Inc.  | 3290 | 674 |
|  |  | 51795 |
| **Industrials 9.72%** |  |  |
| RTX Corp.  | 55626 | 9308 |
| IHI Corp.  | 189308 | 3533 |
| Volvo AB, Class B  | 101854 | 2916 |
| General Dynamics Corp.  | 7983 | 2722 |
| BAE Systems PLC  | 86586 | 2398 |
| Hitachi, Ltd.  | 83200 | 2211 |
| Uber Technologies, Inc. <sup>(a)</sup>  | 20403 | 1999 |
| TransDigm Group, Inc.  | 1411 | 1860 |
| nVent Electric PLC  | 18043 | 1780 |
| Airbus SE, non-registered shares  | 7359 | 1705 |
| Daikin Industries, Ltd.  | 14400 | 1663 |
| Deutsche Post AG  | 35277 | 1571 |
| Safran SA  | 3885 | 1369 |
| Rolls-Royce Holdings PLC  | 59127 | 946 |
| Melrose Industries PLC  | 108484 | 888 |
| Union Pacific Corp.  | 3613 | 854 |
| L3Harris Technologies, Inc.  | 2605 | 796 |
| United Rentals, Inc.  | 708 | 676 |
| Caterpillar, Inc.  | 1265 | 604 |
| PACCAR, Inc.  | 5817 | 572 |
| Ryanair Holdings PLC  | 18144 | 526 |
| Waste Management, Inc.  | 2046 | 452 |
| AtkinsRealis Group, Inc.  | 6127 | 442 |
| Boeing Co. (The) <sup>(a)</sup>  | 1845 | 398 |
| General Aerospace Co.  | 1299 | 391 |
| Carrier Global Corp.  | 5669 | 338 |
|  |  | 42918 |
| **Financials 9.59%** |  |  |
| B3 SA - Brasil, Bolsa, Balcao  | 1841719 | 4637 |
| ING Groep NV  | 153661 | 3982 |
| Marsh & McLennan Cos., Inc.  | 15668 | 3158 |
| Standard Chartered PLC  | 157112 | 3033 |

---

American Funds Insurance Series — Page 149 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials (continued)**<br>| Shares | Value<br> (000)<br>|
| Chubb, Ltd.  | 9768 | $2757 |
| Banco Bilbao Vizcaya Argentaria SA  | 125596 | 2409 |
| HDFC Bank, Ltd. (ADR)  | 50252 | 1717 |
| HDFC Bank, Ltd.  | 46716 | 500 |
| BlackRock, Inc.  | 1868 | 2178 |
| JPMorgan Chase & Co.  | 6673 | 2105 |
| Munchener Ruckversicherungs-Gesellschaft AG  | 3062 | 1953 |
| Morgan Stanley  | 10769 | 1712 |
| Banco BPM SpA  | 97143 | 1451 |
| Zurich Insurance Group AG  | 2035 | 1448 |
| Mizuho Financial Group, Inc.  | 34600 | 1167 |
| NatWest Group PLC  | 154953 | 1087 |
| BNP Paribas SA  | 11060 | 1004 |
| Swiss Re AG  | 5411 | 1000 |
| Capital One Financial Corp.  | 4260 | 906 |
| PICC Property and Casualty Co., Ltd., Class H  | 320000 | 722 |
| AIA Group, Ltd.  | 74200 | 712 |
| UniCredit SpA  | 8042 | 609 |
| Progressive Corp.  | 2416 | 597 |
| Goldman Sachs Group, Inc.  | 744 | 592 |
| 3i Group PLC  | 9121 | 502 |
| Hannover Ruck SE  | 1272 | 383 |
| Sony Financial Group, Inc.  | 27900 | 31 |
|  |  | 42352 |
| **Health care 7.06%** |  |  |
| Eli Lilly and Co.  | 6454 | 4924 |
| Sanofi  | 47952 | 4422 |
| Abbott Laboratories  | 27644 | 3703 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 8797 | 3445 |
| Novo Nordisk AS, Class B  | 50760 | 2752 |
| Gilead Sciences, Inc.  | 23567 | 2616 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 4000 | 1824 |
| UnitedHealth Group, Inc.  | 3921 | 1354 |
| Stryker Corp.  | 3376 | 1248 |
| AbbVie, Inc.  | 5172 | 1197 |
| Medtronic PLC  | 11907 | 1134 |
| Molina Healthcare, Inc. <sup>(a)</sup>  | 3573 | 684 |
| BioMarin Pharmaceutical, Inc. <sup>(a)</sup>  | 11202 | 607 |
| AstraZeneca PLC  | 2821 | 424 |
| Takeda Pharmaceutical Co., Ltd.  | 14500 | 423 |
| GE HealthCare Technologies, Inc.  | 5321 | 400 |
|  |  | 31157 |
| **Consumer discretionary 5.24%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup>  | 31203 | 6851 |
| Las Vegas Sands Corp.  | 43453 | 2337 |
| Ferrari NV  | 3418 | 1659 |
| Ferrari NV (EUR denominated)  | 739 | 357 |
| Maruti Suzuki India, Ltd.  | 9638 | 1740 |
| Midea Group Co., Ltd., Class A  | 169550 | 1731 |
| Starbucks Corp.  | 18932 | 1602 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 2418 | 1478 |
| Compagnie Financiere Richemont SA, Class A  | 6569 | 1251 |
| Royal Caribbean Cruises, Ltd.  | 3546 | 1147 |

---

American Funds Insurance Series — Page 150 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Consumer discretionary (continued)**<br>| Shares | Value<br> (000)<br>|
| Sony Group Corp.  | 27900 | $803 |
| Accor SA  | 15353 | 726 |
| Compagnie Generale des Etablissements Michelin  | 17498 | 627 |
| Viking Holdings, Ltd. <sup>(a)</sup>  | 8985 | 559 |
| adidas AG  | 1239 | 261 |
|  |  | 23129 |
| **Materials 4.69%** |  |  |
| Vale SA, ordinary nominative shares  | 272485 | 2948 |
| Vale SA (ADR), ordinary nominative shares  | 53493 | 581 |
| Nitto Denko Corp.  | 145500 | 3460 |
| Freeport-McMoRan, Inc.  | 64004 | 2510 |
| Grupo Mexico, SAB de CV, Series B  | 281341 | 2454 |
| Lundin Gold, Inc.  | 37052 | 2401 |
| Anglo American PLC  | 40024 | 1499 |
| Air Products and Chemicals, Inc.  | 4709 | 1284 |
| Smurfit Westrock PLC  | 25485 | 1085 |
| International Paper Co.  | 23245 | 1079 |
| Franco-Nevada Corp. (CAD denominated)  | 3217 | 716 |
| Air Liquide SA  | 2355 | 489 |
| Celanese Corp.  | 4784 | 201 |
|  |  | 20707 |
| **Communication services 4.53%** |  |  |
| Meta Platforms, Inc., Class A  | 7712 | 5664 |
| Alphabet, Inc., Class A  | 16211 | 3941 |
| Alphabet, Inc., Class C  | 7016 | 1709 |
| AT&T, Inc.  | 116911 | 3302 |
| Comcast Corp., Class A  | 41592 | 1307 |
| Netflix, Inc. <sup>(a)</sup>  | 917 | 1099 |
| SoftBank Group Corp.  | 8013 | 1012 |
| Deutsche Telekom AG  | 25673 | 874 |
| Omnicom Group, Inc.  | 8955 | 730 |
| Universal Music Group NV  | 13386 | 386 |
|  |  | 20024 |
| **Consumer staples 3.48%** |  |  |
| Imperial Brands PLC  | 108828 | 4622 |
| Philip Morris International, Inc.  | 27364 | 4438 |
| British American Tobacco PLC  | 75637 | 4015 |
| Nestle SA  | 9977 | 916 |
| Sysco Corp.  | 10532 | 867 |
| ITC, Ltd.  | 111348 | 504 |
|  |  | 15362 |
| **Utilities 3.37%** |  |  |
| Dominion Energy, Inc.  | 49453 | 3025 |
| E.ON SE  | 133846 | 2517 |
| DTE Energy Co.  | 15638 | 2212 |
| Duke Energy Corp.  | 14311 | 1771 |
| Constellation Energy Corp.  | 5213 | 1715 |
| SembCorp Industries, Ltd.  | 284900 | 1330 |

---

American Funds Insurance Series — Page 151 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Utilities (continued)**<br>| Shares | Value<br> (000)<br>|
| PG&E Corp.  | 78682 | $1186 |
| Pinnacle West Capital Corp.  | 12840 | 1151 |
|  |  | 14907 |
| **Energy 2.27%** |  |  |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 158498 | 5068 |
| TC Energy Corp. (CAD denominated) <sup>(b)</sup>  | 30769 | 1673 |
| Shell PLC (GBP denominated)  | 46723 | 1663 |
| Chevron Corp.  | 6944 | 1078 |
| Cameco Corp. (CAD denominated)  | 6292 | 528 |
|  |  | 10010 |
| **Real estate 0.50%** |  |  |
| CTP NV  | 59382 | 1322 |
| Embassy Office Parks REIT  | 187528 | 891 |
|  |  | 2213 |
| **Total common stocks** (cost: $188,336,000) |  | 274574 |
| Convertible stocks 0.59%<br> **Utilities 0.30%**<br>|  |  |
| NextEra Energy, Inc., convertible preferred shares, 7.234% 11/1/2027  | 27600 | 1298 |
| **Financials 0.29%** |  |  |
| Apollo Global Management, Inc., Class A, cumulative convertible preferred shares, 6.75% 7/31/2026  | 18365 | 1291 |
| **Total convertible stocks** (cost: $2,727,000) |  | 2589 |
| Bonds, notes & other debt instruments 29.64%<br> **Bonds & notes of governments & government agencies outside the U.S. 12.32%**<br> **Japan 2.70%**<br>| Principal amount<br> (000)<br>|  |
| Japan, Series 150, 0.005% 12/20/2026  | JPY84,950 | 569 |
| Japan, Series 346, 0.10% 3/20/2027  | 134150 | 897 |
| Japan, Series 474, 0.70% 7/1/2027  | 106550 | 718 |
| Japan, Series 352, 0.10% 9/20/2028  | 30650 | 202 |
| Japan, Series 358, 0.10% 3/20/2030  | 37400 | 241 |
| Japan, Series 363, 0.10% 6/20/2031  | 10500 | 66 |
| Japan, Series 373, 0.60% 12/20/2033  | 55750 | 350 |
| Japan, Series 152, 1.20% 3/20/2035  | 465250 | 3030 |
| Japan, Series 173, 0.40% 6/20/2040  | 50350 | 265 |
| Japan, Series 176, 0.50% 3/20/2041  | 109950 | 573 |
| Japan, Series 179, 0.50% 12/20/2041  | 50500 | 258 |
| Japan, Series 42, 1.70% 3/20/2044  | 86550 | 516 |
| Japan, Series 192, 2.40% 3/20/2045  | 396500 | 2612 |
| Japan, Series 37, 0.60% 6/20/2050  | 26950 | 109 |
| Japan, Series 74, 1.00% 3/20/2052  | 84000 | 361 |
| Japan, Series 76, 1.40% 9/20/2052  | 41100 | 195 |
| Japan, Series 77, 1.60% 12/20/2052  | 99700 | 497 |
| Japan, Series 84, 2.10% 9/20/2054  | 82450 | 455 |
|  |  | 11914 |

---

American Funds Insurance Series — Page 152 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Bonds & notes of governments & government agencies outside the U.S. (continued)**<br> **Germany 1.11%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Germany (Federal Republic of) 0% 8/15/2030  | EUR2,615 | $2754 |
| Germany (Federal Republic of) 0% 2/15/2032  | 540 | 545 |
| Germany (Federal Republic of) 1.70% 8/15/2032  | 674 | 754 |
| Germany (Federal Republic of) 2.30% 2/15/2033  | 300 | 347 |
| Germany (Federal Republic of) 2.50% 2/15/2035  | 130 | 151 |
| Germany (Federal Republic of) 1.00% 5/15/2038  | 180 | 169 |
| Germany (Federal Republic of) 0% 8/15/2050  | 300 | 159 |
| Germany (Federal Republic of) 0% 8/15/2052  | 80 | 40 |
|  |  | 4919 |
| **China 1.09%** |  |  |
| Agricultural Development Bank of China 3.75% 1/25/2029  | CNY550 | 82 |
| China (People's Republic of), Series INBK, 2.64% 1/15/2028  | 4100 | 591 |
| China (People's Republic of), Series INBK, 2.37% 1/15/2029  | 3860 | 557 |
| China (People's Republic of), Series INBK, 2.62% 6/25/2030  | 1970 | 289 |
| China (People's Republic of), Series INBK, 2.88% 2/25/2033  | 2870 | 435 |
| China (People's Republic of), Series INBK, 2.27% 5/25/2034  | 2410 | 350 |
| China (People's Republic of), Series INBK, 1.65% 5/15/2035  | 3980 | 551 |
| China (People's Republic of), Series INBK, 3.00% 10/15/2053  | 360 | 59 |
| China (People's Republic of), Series INBK, 1.92% 1/15/2055  | 1520 | 198 |
| China Development Bank Corp., Series 2004, 3.43% 1/14/2027  | 1060 | 152 |
| China Development Bank Corp., Series 2009, 3.39% 7/10/2027  | 8580 | 1241 |
| China Development Bank Corp., Series 1805, 4.88% 2/9/2028  | 2040 | 307 |
|  |  | 4812 |
| **United Kingdom 1.00%** |  |  |
| United Kingdom 1.25% 7/22/2027  | GBP410 | 527 |
| United Kingdom 0.375% 10/22/2030  | 210 | 236 |
| United Kingdom 1.00% 1/31/2032  | 750 | 827 |
| United Kingdom 4.25% 6/7/2032  | 785 | 1053 |
| United Kingdom 3.25% 1/31/2033  | 330 | 410 |
| United Kingdom 3.25% 1/22/2044  | 644 | 653 |
| United Kingdom 1.25% 7/31/2051  | 413 | 232 |
| United Kingdom 4.375% 7/31/2054  | 205 | 231 |
| United Kingdom 2.50% 7/22/2065  | 340 | 242 |
|  |  | 4411 |
| **Italy 0.86%** |  |  |
| Italy (Republic of) 1.35% 4/1/2030  | EUR250 | 278 |
| Italy (Republic of) 4.40% 5/1/2033  | 10 | 13 |
| Italy (Republic of) 4.35% 11/1/2033  | 740 | 936 |
| Italy (Republic of) 4.20% 3/1/2034  | 900 | 1125 |
| Italy (Republic of) 3.65% 8/1/2035  | 795 | 945 |
| Italy (Republic of) 4.50% 10/1/2053  | 210 | 251 |
| Italy (Republic of) 4.30% 10/1/2054  | 200 | 231 |
|  |  | 3779 |
| **Brazil 0.79%** |  |  |
| Brazil (Federative Republic of) 0% 1/1/2026  | BRL10,887 | 1974 |
| Brazil (Federative Republic of) 10.00% 1/1/2029  | 2230 | 385 |
| Brazil (Federative Republic of) 10.00% 1/1/2031  | 1142 | 188 |
| Brazil (Federative Republic of) 10.00% 1/1/2035  | 4075 | 626 |
| Brazil (Federative Republic of) 6.00% 8/15/2040 <sup>(c)</sup> <br>| 227 | 38 |

---

American Funds Insurance Series — Page 153 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Bonds & notes of governments & government agencies outside the U.S. (continued)**<br> **Brazil (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Brazil (Federative Republic of) 6.00% 8/15/2050 <sup>(c)</sup> <br>| BRL1,643 | $267 |
| Brazil (Federative Republic of) 6.00% 8/15/2060 <sup>(c)</sup> <br>| 228 | 36 |
|  |  | 3514 |
| **Supra National 0.68%** |  |  |
| Asian Development Bank 6.72% 2/8/2028  | INR18,000 | 204 |
| European Bank for Reconstruction and Development 5.25% 1/12/2027  | 10100 | 113 |
| European Bank for Reconstruction and Development 6.30% 10/26/2027  | 4300 | 48 |
| European Bank for Reconstruction and Development 6.75% 1/13/2032  | 43800 | 494 |
| European Investment Bank 0.375% 9/15/2027  | EUR110 | 125 |
| European Investment Bank 6.95% 3/1/2029  | INR5,700 | 65 |
| European Investment Bank 0.25% 1/20/2032  | EUR860 | 870 |
| European Investment Bank 7.40% 10/23/2033  | INR19,300 | 226 |
| European Investment Bank 2.875% 1/15/2035  | EUR45 | 53 |
| European Union 2.75% 12/13/2032  | 70 | 82 |
| European Union 3.375% 10/4/2039  | 40 | 46 |
| European Union 4.00% 10/12/2055  | 215 | 250 |
| Inter-American Development Bank 7.00% 1/25/2029  | INR22,000 | 250 |
| International Bank for Reconstruction and Development 6.75% 7/13/2029  | 16200 | 183 |
|  |  | 3009 |
| **France 0.67%** |  |  |
| French Republic O.A.T. 0.75% 2/25/2028  | EUR410 | 465 |
| French Republic O.A.T. 0% 11/25/2030  | 1320 | 1347 |
| French Republic O.A.T. 2.00% 11/25/2032  | 610 | 666 |
| French Republic O.A.T. 3.25% 5/25/2045  | 160 | 167 |
| French Republic O.A.T. 3.75% 5/25/2056  | 295 | 310 |
|  |  | 2955 |
| **Spain 0.54%** |  |  |
| Spain (Kingdom of) 0% 1/31/2027  | 335 | 383 |
| Spain (Kingdom of) 0.80% 7/30/2027  | 490 | 562 |
| Spain (Kingdom of) 0.50% 10/31/2031  | 165 | 170 |
| Spain (Kingdom of) 3.15% 4/30/2033  | 317 | 377 |
| Spain (Kingdom of) 3.55% 10/31/2033  | 370 | 451 |
| Spain (Kingdom of) 3.25% 4/30/2034  | 120 | 142 |
| Spain (Kingdom of) 3.45% 10/31/2034  | 240 | 289 |
|  |  | 2374 |
| **Australia 0.44%** |  |  |
| Australia (Commonwealth of), Series 157, 1.50% 6/21/2031  | AUD115 | 67 |
| Australia (Commonwealth of), Series 166, 3.00% 11/21/2033  | 725 | 442 |
| Australia (Commonwealth of), Series 167, 3.75% 5/21/2034  | 905 | 580 |
| New South Wales Treasury Corp. 4.25% 2/20/2036  | 340 | 213 |
| Treasury Corporation of Victoria 5.50% 9/15/2039  | 813 | 544 |
| Treasury Corporation of Victoria 3.625% 9/29/2040  | EUR100 | 117 |
|  |  | 1963 |
| **South Korea 0.38%** |  |  |
| South Korea (Republic of), Series 2712, 2.375% 12/10/2027  | KRW348,590 | 247 |
| South Korea (Republic of), Series 3212, 4.25% 12/10/2032  | 1830410 | 1418 |
|  |  | 1665 |

---

American Funds Insurance Series — Page 154 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Bonds & notes of governments & government agencies outside the U.S. (continued)**<br> **Malaysia 0.35%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Malaysia (Federation of), Series 0419, 3.828% 7/5/2034  | MYR3,466 | $846 |
| Malaysia (Federation of), Series 0124, 4.054% 4/18/2039  | 601 | 149 |
| Malaysia (Federation of), Series 0221, 4.417% 9/30/2041  | 180 | 46 |
| Malaysia (Federation of), Series 0223, 4.291% 8/14/2043  | 653 | 165 |
| Malaysia (Federation of), Series 0224, 4.18% 5/16/2044  | 1307 | 326 |
| Malaysia (Federation of), Series 0417, 4.895% 5/8/2047  | 93 | 25 |
|  |  | 1557 |
| **Canada 0.33%** |  |  |
| Canada (Government) 0.25% 3/1/2026  | CAD246 | 175 |
| Canada (Government) 3.50% 3/1/2028  | 1119 | 823 |
| Canada (Government) 1.50% 12/1/2031  | 60 | 40 |
| Nova Scotia (Province of) 3.15% 12/1/2051  | 170 | 96 |
| Ontario (Province of) 3.25% 7/3/2035  | EUR100 | 117 |
| Quebec (Province of) 3.35% 7/23/2039  | 190 | 218 |
|  |  | 1469 |
| **Panama 0.19%** |  |  |
| Panama (Republic of) 7.50% 3/1/2031  | USD560 | 616 |
| Panama (Republic of) 6.40% 2/14/2035  | 200 | 207 |
|  |  | 823 |
| **Greece 0.17%** |  |  |
| Greece (Hellenic Republic of) 3.875% 6/15/2028  | EUR65 | 80 |
| Greece (Hellenic Republic of) 1.50% 6/18/2030  | 90 | 100 |
| Greece (Hellenic Republic of) 1.75% 6/18/2032  | 530 | 576 |
|  |  | 756 |
| **Colombia 0.17%** |  |  |
| Colombia (Republic of) 7.375% 4/25/2030  | USD335 | 357 |
| Colombia (Republic of) 3.125% 4/15/2031  | 200 | 174 |
| Colombia (Republic of) 8.50% 4/25/2035  | 200 | 222 |
|  |  | 753 |
| **Republic of Austria 0.15%** |  |  |
| Austria (Republic of) 0% 2/20/2031  | EUR500 | 512 |
| Austria (Republic of) 2.90% 2/20/2034  | 120 | 141 |
|  |  | 653 |
| **Mexico 0.15%** |  |  |
| United Mexican States, Series M, 5.75% 3/5/2026  | MXN10,710 | 580 |
| United Mexican States, Series M, 8.00% 7/31/2053  | 881 | 42 |
| United Mexican States, Series S, 4.00% 10/29/2054 <sup>(c)</sup> <br>| 535 | 27 |
|  |  | 649 |
| **Indonesia 0.11%** |  |  |
| Indonesia (Republic of), Series 87, 6.50% 2/15/2031  | IDR1,253,000 | 79 |
| Indonesia (Republic of), Series 96, 7.00% 2/15/2033  | 2543000 | 160 |
| Indonesia (Republic of), Series 100, 6.625% 2/15/2034  | 1026000 | 63 |
| Indonesia (Republic of). Series 103, 6.75% 7/15/2035  | 2889000 | 178 |
|  |  | 480 |
| **Belgium 0.07%** |  |  |
| Belgium (Kingdom of), Series 97, 3.00% 6/22/2033  | EUR270 | 317 |

---

American Funds Insurance Series — Page 155 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Bonds & notes of governments & government agencies outside the U.S. (continued)**<br> **Thailand 0.05%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Export-Import Bank of Thailand 5.354% 5/16/2029  | USD200 | $207 |
| **Turkey 0.05%** |  |  |
| Turkey (Republic of), Series 30Y, 7.125% 7/17/2032  | 200 | 207 |
| **Ireland 0.05%** |  |  |
| Ireland (Republic of) 2.60% 10/18/2034  | EUR100 | 114 |
| Ireland (Republic of) 3.00% 10/18/2043  | 80 | 89 |
|  |  | 203 |
| **Estonia 0.04%** |  |  |
| Estonia (Republic of) 3.25% 1/17/2034  | 160 | 189 |
| **Bulgaria 0.03%** |  |  |
| Bulgaria (Republic of) 4.50% 1/27/2033  | 120 | 153 |
| **Portugal 0.03%** |  |  |
| Portugal (Republic of) 0.475% 10/18/2030  | 50 | 53 |
| Portugal (Republic of) 3.375% 6/15/2040  | 5 | 6 |
| Portugal (Republic of) 3.625% 6/12/2054  | 70 | 78 |
|  |  | 137 |
| **Hungary 0.03%** |  |  |
| Magyar Export-Import Bank 6.00% 5/16/2029  | 100 | 127 |
| **Netherlands 0.03%** |  |  |
| Netherlands (Kingdom of the) 5.50% 1/15/2028  | 100 | 126 |
| **Philippines 0.03%** |  |  |
| Philippines (Republic of) 0.875% 5/17/2027  | 110 | 126 |
| **Poland 0.02%** |  |  |
| Poland (Republic of), Series 1029, 2.75% 10/25/2029  | PLN410 | 105 |
| **Chile 0.01%** |  |  |
| Chile (Republic of) 4.70% 9/1/2030  | CLP55,000 | 56 |
| **Total bonds & notes of governments & government agencies outside the U.S.** |  | 54408 |
| **Corporate bonds, notes & loans 6.10%**<br> **Financials 1.46%**<br>|  |  |
| 200 Park Funding Trust 5.74% 2/15/2055 <sup>(d)</sup>  | USD100 | 101 |
| AIA Group, Ltd. 0.88% 9/9/2033 (5-year EUR Mid-Swap + 1.10% on 9/9/2028) <sup>(e)</sup>  | EUR330 | 365 |
| AIB Group PLC 7.583% 10/14/2026 (USD-SOFR + 3.456% on 10/14/2025) <sup>(d)(e)</sup>  | USD200 | 200 |
| AIB Group PLC 5.75% 2/16/2029 (1-year EUR Mid-Swap + 2.85% on 2/16/2028) <sup>(e)</sup>  | EUR200 | 251 |
| Banco de Sabadell SA 5.25% 2/7/2029 (1-year EUR Mid-Swap + 2.40% on 2/7/2028) <sup>(e)</sup>  | 100 | 124 |
| Banco de Sabadell SA 5.125% 6/27/2034 (5-year EUR Mid-Swap + 2.40% on 6/7/2029) <sup>(e)</sup>  | 100 | 125 |

---

American Funds Insurance Series — Page 156 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Financials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Bank of America Corp. 5.202% 4/25/2029 (USD-SOFR + 1.63% on 4/25/2028) <sup>(e)</sup>  | USD161 | $165 |
| Barclays PLC 7.09% 11/6/2029 (1-year EUR (vs. 6-month GBP-LIBOR) + 2.553% on 11/6/2028) <sup>(e)</sup>  | GBP100 | 143 |
| Barclays PLC 4.616% 3/26/2037 (5-year EUR Mid-Swap + 2.05% on 3/26/2032) <sup>(e)</sup>  | EUR100 | 122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BBVA Bancomer SA 8.45% 6/29/2038 (5-year UST Yield Curve Rate T Note Constant Maturity + 4.661% on <br> 6/29/2033) <sup>(e)</sup>  | USD200 | 222 |
| BPCE SA 4.50% 1/13/2033  | EUR100 | 124 |
| BPCE SA 6.027% 5/28/2036 (USD-SOFR + 1.956% on 5/28/2035) <sup>(d)(e)</sup>  | USD250 | 264 |
| Brown & Brown, Inc. 5.55% 6/23/2035  | 7 | 7 |
| CaixaBank SA 6.208% 1/18/2029 (USD-SOFR + 2.70% on 1/18/2028) <sup>(d)(e)</sup>  | 200 | 208 |
| CaixaBank SA 4.375% 8/8/2036 (5-year EUR-ICE Swap EURIBOR + 1.95% on 8/8/2031) <sup>(e)</sup>  | EUR200 | 243 |
| Chubb INA Holdings, LLC 3.35% 5/3/2026  | USD10 | 10 |
| Chubb INA Holdings, LLC 4.35% 11/3/2045  | 20 | 18 |
| Citigroup, Inc. 4.542% 9/19/2030 (USD-SOFR + 1.338% on 9/19/2029) <sup>(e)</sup>  | 70 | 70 |
| Corebridge Financial, Inc. 3.90% 4/5/2032  | 59 | 56 |
| Deutsche Bank AG 2.311% 11/16/2027 (USD-SOFR + 1.219% on 11/16/2026) <sup>(e)</sup>  | 160 | 157 |
| Deutsche Bank AG 1.75% 11/19/2030 (3-month EUR-EURIBOR + 2.05% on 11/19/2029) <sup>(e)</sup>  | EUR200 | 222 |
| DNB Bank ASA 4.00% 8/17/2027 (1-year GBP-GILT + 2.15% on 8/17/2026) <sup>(e)</sup>  | GBP100 | 134 |
| Goldman Sachs Group, Inc. 5.727% 4/25/2030 (USD-SOFR + 1.265% on 4/25/2029) <sup>(e)</sup>  | USD135 | 141 |
| HSBC Holdings PLC 7.39% 11/3/2028 (USD-SOFR + 7.39% on 11/3/2027) <sup>(e)</sup>  | 360 | 382 |
| HSBC Holdings PLC 7.399% 11/13/2034 (USD-SOFR + 3.02% on 11/13/2033) <sup>(e)</sup>  | 290 | 330 |
| ING Groep NV 5.25% 11/14/2033 (3-month EUR-EURIBOR + 2.15% on 11/14/2032) <sup>(e)</sup>  | EUR100 | 131 |
| JPMorgan Chase & Co. 4.603% 10/22/2030 (USD-SOFR + 1.04% on 10/22/2029) <sup>(e)</sup>  | USD85 | 86 |
| JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031) <sup>(e)</sup>  | 280 | 248 |
| JPMorgan Chase & Co. 5.572% 4/22/2036 (USD-SOFR + 1.68% on 4/22/2035) <sup>(e)</sup>  | 300 | 316 |
| Mastercard, Inc. 2.00% 11/18/2031  | 102 | 90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. 5.778% 7/6/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.65% on <br> 7/6/2028) <sup>(e)</sup>  | 294 | 307 |
| Morgan Stanley 5.656% 4/18/2030 (USD-SOFR + 1.26% on 4/18/2029) <sup>(e)</sup>  | 150 | 157 |
| NatWest Group PLC 0.78% 2/26/2030 (3-month EUR-EURIBOR + 0.949% on 2/26/2029) <sup>(e)</sup>  | EUR175 | 191 |
| New York Life Insurance Co. 3.75% 5/15/2050 <sup>(d)</sup>  | USD23 | 17 |
| PNC Financial Services Group, Inc. 6.875% 10/20/2034 (USD-SOFR + 2.284% on 10/20/2033) <sup>(e)</sup>  | 65 | 74 |
| PNC Financial Services Group, Inc. 5.676% 1/22/2035 (USD-SOFR + 1.902% on 1/22/2034) <sup>(e)</sup>  | 25 | 26 |
| PT Bank Negara Indonesia (Persero) Tbk 5.28% 4/5/2029  | 280 | 287 |
| Royal Bank of Canada 4.971% 5/2/2031 (USD-SOFR + 1.13% on 5/2/2030) <sup>(e)</sup>  | 75 | 77 |
| Toronto-Dominion Bank (The) 4.808% 6/3/2030  | 75 | 77 |
| Wells Fargo & Co. 3.90% 7/22/2032 (3-month EUR-EURIBOR + 1.22% on 7/22/2031) <sup>(e)(f)</sup>  | EUR150 | 182 |
|  |  | 6450 |
| **Energy 1.00%** |  |  |
| Ecopetrol SA 8.625% 1/19/2029  | USD125 | 136 |
| Empresa Nacional del Petroleo 5.95% 7/30/2034 <sup>(d)</sup>  | 200 | 211 |
| Enterprise Products Operating, LLC 4.95% 2/15/2035  | 25 | 25 |
| GreenSaif Pipelines Bidco SARL 5.853% 2/23/2036 <sup>(d)</sup>  | 225 | 237 |
| Halliburton Co. 3.80% 11/15/2025  | 2 | 2 |
| Petroleos Mexicanos 6.875% 10/16/2025  | 63 | 63 |
| Petroleos Mexicanos 6.875% 8/4/2026  | 211 | 214 |
| Petroleos Mexicanos 6.49% 1/23/2027  | 1238 | 1251 |
| Petroleos Mexicanos 5.35% 2/12/2028  | 205 | 204 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 1455 | 1481 |
| Petroleos Mexicanos 6.95% 1/28/2060  | 80 | 66 |
| Qatar Energy 3.125% 7/12/2041 <sup>(d)</sup>  | 320 | 247 |
| Raizen Fuels Finance SA 6.45% 3/5/2034 <sup>(d)</sup>  | 200 | 194 |

---

American Funds Insurance Series — Page 157 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Energy (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Targa Resources Corp. 5.50% 2/15/2035  | USD2 | $2 |
| TotalEnergies Capital SA 5.488% 4/5/2054  | 85 | 84 |
|  |  | 4417 |
| **Utilities 0.76%** |  |  |
| Alfa Transmisora De Energia SA 4.55% 9/27/2051  | 197 | 158 |
| Cleveland Electric Illuminating Co. (The) 3.50% 4/1/2028 <sup>(d)</sup>  | 35 | 34 |
| CMS Energy Corp. 3.00% 5/15/2026  | 180 | 179 |
| Duke Energy Corp. 3.75% 4/1/2031  | EUR100 | 120 |
| Edison International 6.25% 3/15/2030  | USD50 | 52 |
| Electricite de France SA 4.25% 1/25/2032  | EUR100 | 123 |
| Electricite de France SA 4.00% 5/7/2037  | 100 | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electricite de France SA 7.50% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 4.86% on <br> 12/6/2028) <sup>(e)</sup>  | 200 | 258 |
| Enel Finance International NV 2.125% 7/12/2028 <sup>(d)</sup>  | USD200 | 189 |
| Enfragen Energia Sur SA 5.375% 12/30/2030  | 200 | 186 |
| Engie SA 7.00% 10/30/2028  | GBP50 | 72 |
| Exelon Corp. 3.40% 4/15/2026  | USD150 | 149 |
| Interstate Power and Light Co. 2.30% 6/1/2030  | 50 | 46 |
| Pacific Gas and Electric Co. 6.15% 1/15/2033  | 78 | 83 |
| Pacific Gas and Electric Co. 6.00% 8/15/2035  | 120 | 126 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 120 | 103 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | 137 | 94 |
| Public Service Co. of Colorado 2.70% 1/15/2051  | 125 | 77 |
| Southern California Edison Co. 5.45% 3/1/2035  | 150 | 152 |
| Southern California Edison Co. 6.20% 9/15/2055  | 60 | 61 |
| SP Transmission PLC 2.00% 11/13/2031  | GBP100 | 114 |
| Xcel Energy, Inc. 3.35% 12/1/2026  | USD316 | 313 |
| XPLR Infrastructure Operating Partners, LP 7.25% 1/15/2029 <sup>(d)</sup>  | 550 | 565 |
|  |  | 3371 |
| **Communication services 0.57%** |  |  |
| America Movil, SAB de CV, 10.125% 1/22/2029  | MXN9,100 | 518 |
| America Movil, SAB de CV, 9.50% 1/27/2031  | 2000 | 112 |
| America Movil, SAB de CV, 10.30% 1/30/2034  | 2000 | 117 |
| AT&T, Inc. 2.75% 6/1/2031  | USD165 | 151 |
| AT&T, Inc. 5.20% 11/18/2033  | GBP100 | 133 |
| AT&T, Inc. 2.55% 12/1/2033  | USD64 | 55 |
| Comcast Corp. 0% 9/14/2026  | EUR100 | 115 |
| Comcast Corp. 3.55% 5/1/2028  | USD125 | 124 |
| Deutsche Telekom International Finance BV 9.25% 6/1/2032  | 45 | 56 |
| Orange 3.625% 11/16/2031  | EUR100 | 121 |
| Orange 5.625% 1/23/2034  | GBP90 | 125 |
| T-Mobile USA, Inc. 2.05% 2/15/2028  | USD200 | 191 |
| T-Mobile USA, Inc. 3.15% 2/11/2032  | EUR100 | 117 |
| T-Mobile USA, Inc. 3.70% 5/8/2032  | 100 | 120 |
| T-Mobile USA, Inc. 5.15% 4/15/2034  | USD115 | 118 |
| Verizon Communications, Inc. 0.375% 3/22/2029  | EUR140 | 151 |
| Verizon Communications, Inc. 2.355% 3/15/2032  | USD100 | 88 |
| Verizon Communications, Inc. 0.75% 3/22/2032  | EUR100 | 100 |
|  |  | 2512 |

---

American Funds Insurance Series — Page 158 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Consumer staples 0.52%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Altria Group, Inc. 2.20% 6/15/2027  | EUR270 | $316 |
| BAT Capital Corp. 3.215% 9/6/2026  | USD62 | 61 |
| BAT Capital Corp. 4.70% 4/2/2027  | 67 | 67 |
| BAT Capital Corp. 3.557% 8/15/2027  | 105 | 104 |
| BAT Capital Corp. 3.462% 9/6/2029  | 75 | 73 |
| BAT Capital Corp. 5.625% 8/15/2035  | 243 | 253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; British American Tobacco PLC 3.00% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 3.372% on <br> 12/27/2026) <sup>(e)</sup>  | EUR640 | 751 |
| Campbell's Co. (The) 4.75% 3/23/2035  | USD47 | 46 |
| Coca-Cola Co. 4.65% 8/14/2034  | 61 | 62 |
| Coca-Cola Co. 3.75% 8/15/2053  | EUR125 | 138 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(d)</sup>  | USD105 | 107 |
| Minerva Luxembourg SA 8.875% 9/13/2033  | 200 | 220 |
| Philip Morris International, Inc. 5.75% 11/17/2032  | 110 | 117 |
|  |  | 2315 |
| **Health care 0.47%** |  |  |
| AbbVie, Inc. 5.05% 3/15/2034  | 25 | 26 |
| AbbVie, Inc. 5.35% 3/15/2044  | 25 | 25 |
| AbbVie, Inc. 5.40% 3/15/2054  | 25 | 25 |
| AbbVie, Inc. 5.50% 3/15/2064  | 25 | 25 |
| Amgen, Inc. 2.20% 2/21/2027  | 200 | 195 |
| Amgen, Inc. 4.20% 3/1/2033  | 280 | 272 |
| Amgen, Inc. 5.65% 3/2/2053  | 300 | 300 |
| Becton, Dickinson and Co. 3.70% 6/6/2027  | 43 | 43 |
| Becton, Dickinson and Co. 4.298% 8/22/2032  | 150 | 148 |
| Bristol-Myers Squibb Co. 5.55% 2/22/2054  | 60 | 60 |
| Bristol-Myers Squibb Co. 5.65% 2/22/2064  | 85 | 84 |
| CVS Health Corp. 5.40% 6/1/2029  | 242 | 250 |
| GE HealthCare Technologies, Inc. 4.80% 8/14/2029  | 33 | 34 |
| Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033  | 107 | 108 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 21 | 20 |
| Takeda Pharmaceutical Co., Ltd. 2.25% 11/21/2026  | EUR100 | 117 |
| UnitedHealth Group, Inc. 4.00% 5/15/2029  | USD258 | 257 |
| UnitedHealth Group, Inc. 5.625% 7/15/2054  | 65 | 65 |
|  |  | 2054 |
| **Industrials 0.44%** |  |  |
| Boeing Co. (The) 6.298% 5/1/2029  | 95 | 101 |
| Boeing Co. (The) 6.528% 5/1/2034  | 604 | 668 |
| Canadian Pacific Railway Co. 3.00% 12/2/2041  | 42 | 32 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 129 | 87 |
| Carrier Global Corp. 2.493% 2/15/2027  | 7 | 7 |
| CSX Corp. 3.80% 4/15/2050  | 6 | 5 |
| CSX Corp. 2.50% 5/15/2051  | 75 | 45 |
| GE Capital International Funding Co. Unlimited Co. 4.418% 11/15/2035  | 200 | 196 |
| Honeywell International, Inc. 3.75% 3/1/2036  | EUR100 | 118 |
| Lima Metro Line 2 Finance, Ltd. 5.875% 7/5/2034 <sup>(d)</sup>  | USD78 | 80 |
| MISC Capital Two (Labuan), Ltd. 3.75% 4/6/2027 <sup>(d)</sup>  | 200 | 198 |
| RTX Corp. 4.125% 11/16/2028  | 100 | 100 |
| RTX Corp. 6.10% 3/15/2034  | 55 | 60 |
| RTX Corp. 4.50% 6/1/2042  | 70 | 63 |

---

American Funds Insurance Series — Page 159 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Industrials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Veralto Corp. 4.15% 9/19/2031  | EUR100 | $122 |
| Veralto Corp. 5.45% 9/18/2033  | USD60 | 63 |
|  |  | 1945 |
| **Consumer discretionary 0.35%** |  |  |
| BMW International Investment BV 4.75% 9/4/2030  | GBP100 | 135 |
| Daimler Trucks Finance North America, LLC 3.65% 4/7/2027 <sup>(d)</sup>  | USD150 | 149 |
| Ford Motor Credit Co., LLC 3.622% 7/27/2028  | EUR200 | 235 |
| General Motors Financial Co., Inc. 4.90% 10/6/2029  | USD135 | 137 |
| Hyundai Capital America 1.50% 6/15/2026 <sup>(d)</sup>  | 250 | 245 |
| Hyundai Capital America 2.375% 10/15/2027 <sup>(d)</sup>  | 109 | 105 |
| Hyundai Capital America 5.10% 6/24/2030 <sup>(d)</sup>  | 72 | 73 |
| Hyundai Capital America 4.50% 9/18/2030 <sup>(d)</sup>  | 150 | 149 |
| McDonalds Corp. 1.60% 3/15/2031 <sup>(f)</sup>  | EUR100 | 109 |
| Sands China, Ltd. 4.375% 6/18/2030  | USD200 | 197 |
|  |  | 1534 |
| **Materials 0.26%** |  |  |
| Braskem Netherlands Finance BV 4.50% 1/31/2030  | 220 | 83 |
| Braskem Netherlands Finance BV 8.50% 1/12/2031  | 400 | 156 |
| First Quantum Minerals, Ltd. 9.375% 3/1/2029 <sup>(d)</sup>  | 250 | 265 |
| Samarco Mineracao SA 9.00% PIK 6/30/2031 (5.00% PIK and 4.00% Cash on 12/30/2025) <sup>(e)(g)</sup>  | 270 | 271 |
| Samarco Mineracao SA 9.00% PIK 6/30/2031 (5.00% PIK and 4.00% Cash on 12/30/2025) <sup>(d)(e)(g)</sup>  | 45 | 46 |
| Vale Overseas, Ltd. 3.75% 7/8/2030  | 94 | 91 |
| Verallia SAS 3.875% 11/4/2032  | EUR200 | 235 |
|  |  | 1147 |
| **Information technology 0.17%** |  |  |
| Amphenol Corp. 3.125% 6/16/2032  | 100 | 117 |
| Broadcom, Inc. 4.00% 4/15/2029 <sup>(d)</sup>  | USD21 | 21 |
| Broadcom, Inc. 4.15% 11/15/2030  | 70 | 70 |
| Broadcom, Inc. 3.469% 4/15/2034 <sup>(d)</sup>  | 123 | 112 |
| Broadcom, Inc. 3.137% 11/15/2035 <sup>(d)</sup>  | 15 | 13 |
| Oracle Corp. 2.65% 7/15/2026  | 216 | 213 |
| SK hynix, Inc. 1.50% 1/19/2026  | 200 | 198 |
|  |  | 744 |
| **Real estate 0.10%** |  |  |
| American Tower Corp. 0.875% 5/21/2029  | EUR130 | 142 |
| Equinix Europe 2 Financing Corp., LLC 5.50% 6/15/2034  | USD100 | 104 |
| Equinix, Inc. 2.15% 7/15/2030  | 176 | 159 |
| Essex Portfolio, LP 3.375% 4/15/2026  | 40 | 40 |
|  |  | 445 |
| **Total corporate bonds, notes & loans** |  | 26934 |
| **U.S. Treasury bonds & notes 5.58%**<br> **U.S. Treasury 5.08%**<br>|  |  |
| U.S. Treasury 4.50% 4/15/2027  | 1160 | 1174 |
| U.S. Treasury 3.75% 4/30/2027  | 1710 | 1712 |
| U.S. Treasury 3.75% 6/30/2027  | 1510 | 1513 |
| U.S. Treasury 4.00% 6/30/2028  | 4484 | 4528 |
| U.S. Treasury 4.625% 9/30/2028  | 1875 | 1928 |
| U.S. Treasury 4.125% 3/31/2029  | 822 | 835 |

---

American Funds Insurance Series — Page 160 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. Treasury bonds & notes (continued)**<br> **U.S. Treasury (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| U.S. Treasury 3.50% 9/30/2029  | USD755 | $750 |
| U.S. Treasury 4.00% 2/28/2030  | 1094 | 1107 |
| U.S. Treasury 4.00% 5/31/2030  | 1090 | 1103 |
| U.S. Treasury 3.875% 6/30/2030  | 2117 | 2130 |
| U.S. Treasury 1.375% 11/15/2031 <sup>(h)</sup>  | 772 | 668 |
| U.S. Treasury 2.875% 5/15/2032  | 306 | 288 |
| U.S. Treasury 4.625% 2/15/2035  | 1340 | 1393 |
| U.S. Treasury 4.25% 5/15/2035  | 326 | 329 |
| U.S. Treasury 1.875% 2/15/2041 <sup>(h)</sup>  | 285 | 201 |
| U.S. Treasury 2.25% 5/15/2041 <sup>(h)</sup>  | 986 | 731 |
| U.S. Treasury 2.875% 11/15/2046  | 330 | 247 |
| U.S. Treasury 1.25% 5/15/2050  | 440 | 216 |
| U.S. Treasury 1.375% 8/15/2050  | 570 | 286 |
| U.S. Treasury 2.375% 5/15/2051  | 510 | 328 |
| U.S. Treasury 2.00% 8/15/2051  | 560 | 328 |
| U.S. Treasury 4.00% 11/15/2052  | 270 | 239 |
| U.S. Treasury 3.625% 2/15/2053  | 149 | 123 |
| U.S. Treasury 4.25% 8/15/2054  | 320 | 295 |
|  |  | 22452 |
| **U.S. Treasury inflation-protected securities 0.50%** |  |  |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2027 <sup>(c)</sup>  | 375 | 372 |
| U.S. Treasury Inflation-Protected Security 2.375% 10/15/2028 <sup>(c)</sup>  | 692 | 721 |
| U.S. Treasury Inflation-Protected Security 1.00% 2/15/2049 <sup>(c)</sup>  | 270 | 199 |
| U.S. Treasury Inflation-Protected Security 2.375% 2/15/2055 <sup>(c)(h)</sup>  | 926 | 905 |
|  |  | 2197 |
| **Total U.S. Treasury bonds & notes** |  | 24649 |
| **Mortgage-backed obligations 5.03%**<br> **Federal agency mortgage-backed obligations 3.77%**<br>|  |  |
| Fannie Mae Pool #MA4805 4.50% 11/1/2052 <sup>(i)</sup>  | 32 | 32 |
| Fannie Mae Pool #FS4191 5.50% 3/1/2053 <sup>(i)</sup>  | 250 | 254 |
| Fannie Mae Pool #CB5912 6.00% 3/1/2053 <sup>(i)</sup>  | 66 | 68 |
| Fannie Mae Pool #CB7104 5.50% 9/1/2053 <sup>(i)</sup>  | 326 | 331 |
| Fannie Mae Pool #MA5191 6.00% 11/1/2053 <sup>(i)</sup>  | 426 | 437 |
| Fannie Mae Pool #MA5271 5.50% 2/1/2054 <sup>(i)</sup>  | 21 | 21 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(i)</sup>  | 14 | 15 |
| Fannie Mae Pool #MA5295 6.00% 3/1/2054 <sup>(i)</sup>  | 2721 | 2787 |
| Fannie Mae Pool #FS8131 5.50% 6/1/2054 <sup>(i)</sup>  | 90 | 92 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(i)</sup>  | 72 | 74 |
| Fannie Mae Pool #DB8491 5.50% 7/1/2054 <sup>(i)</sup>  | 493 | 499 |
| Fannie Mae Pool #FS8467 5.50% 7/1/2054 <sup>(i)</sup>  | 183 | 186 |
| Fannie Mae Pool #CB8842 5.50% 7/1/2054 <sup>(i)</sup>  | 137 | 138 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(i)</sup>  | 102 | 105 |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(i)</sup>  | 71 | 73 |
| Fannie Mae Pool #DB7783 5.50% 8/1/2054 <sup>(i)</sup>  | 85 | 86 |
| Fannie Mae Pool #FS8758 6.00% 8/1/2054 <sup>(i)</sup>  | 85 | 87 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(i)</sup>  | 71 | 73 |
| Fannie Mae Pool #DB7792 6.00% 8/1/2054 <sup>(i)</sup>  | 64 | 66 |
| Fannie Mae Pool #DC0495 5.50% 9/1/2054 <sup>(i)</sup>  | 348 | 351 |
| Fannie Mae Pool #MA5470 5.50% 9/1/2054 <sup>(i)</sup>  | 3 | 3 |
| Fannie Mae Pool #MA5471 6.00% 9/1/2054 <sup>(i)</sup>  | 1129 | 1155 |
| Fannie Mae Pool #FS8866 6.00% 9/1/2054 <sup>(i)</sup>  | 89 | 91 |

---

American Funds Insurance Series — Page 161 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(i)</sup>  | USD11 | $11 |
| Fannie Mae Pool #DC7042 4.50% 12/1/2054 <sup>(i)</sup>  | 282 | 274 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(i)</sup>  | 13 | 13 |
| Fannie Mae Pool #MA5612 4.50% 2/1/2055 <sup>(i)</sup>  | 400 | 388 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(i)</sup>  | 113 | 116 |
| Fannie Mae Pool #DD0782 5.50% 3/1/2055 <sup>(i)</sup>  | 39 | 40 |
| Fannie Mae Pool #MA5699 5.00% 5/1/2055 <sup>(i)</sup>  | 100 | 99 |
| Fannie Mae Pool #MA5734 5.00% 6/1/2055 <sup>(i)</sup>  | 51 | 50 |
| Freddie Mac Pool #RA5155 2.00% 5/1/2051 <sup>(i)</sup>  | 329 | 265 |
| Freddie Mac Pool #SD8266 4.50% 11/1/2052 <sup>(i)</sup>  | 97 | 94 |
| Freddie Mac Pool #SD8287 4.50% 1/1/2053 <sup>(i)</sup>  | 54 | 52 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(i)</sup>  | 480 | 485 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(i)</sup>  | 208 | 210 |
| Freddie Mac Pool #RJ1855 5.00% 6/1/2054 <sup>(i)</sup>  | 27 | 27 |
| Freddie Mac Pool #RJ1768 5.50% 6/1/2054 <sup>(i)</sup>  | 42 | 42 |
| Freddie Mac Pool #RJ1779 6.00% 6/1/2054 <sup>(i)</sup>  | 82 | 85 |
| Freddie Mac Pool #RJ1963 5.50% 7/1/2054 <sup>(i)</sup>  | 35 | 36 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(i)</sup>  | 108 | 111 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(i)</sup>  | 70 | 73 |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(i)</sup>  | 54 | 56 |
| Freddie Mac Pool #SD8453 5.50% 8/1/2054 <sup>(i)</sup>  | 23 | 23 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(i)</sup>  | 5 | 5 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(i)</sup>  | 158 | 162 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(i)</sup>  | 83 | 85 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(i)</sup>  | 80 | 82 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(i)</sup>  | 75 | 78 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(i)</sup>  | 34 | 35 |
| Freddie Mac Pool #RJ2851 4.50% 11/1/2054 <sup>(i)</sup>  | 73 | 71 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(i)</sup>  | 68 | 69 |
| Freddie Mac Pool #SD8491 5.00% 12/1/2054 <sup>(i)</sup>  | 210 | 209 |
| Freddie Mac Pool #QX1414 5.50% 12/1/2054 <sup>(i)</sup>  | 64 | 64 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(i)</sup>  | 1 | 1 |
| Freddie Mac Pool #SD8515 5.50% 3/1/2055 <sup>(i)</sup>  | 1020 | 1030 |
| Freddie Mac Pool #SL1094 5.00% 4/1/2055 <sup>(i)</sup>  | 43 | 43 |
| Freddie Mac Pool #SD8532 5.00% 5/1/2055 <sup>(i)</sup>  | 91 | 90 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(i)</sup>  | 241 | 239 |
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(i)</sup>  | 63 | 64 |
| Freddie Mac Pool #RQ0026 5.00% 7/1/2055 <sup>(i)</sup>  | 885 | 879 |
| Uniform Mortgage-Backed Security 4.50% 10/1/2055 <sup>(i)(j)</sup>  | 4 | 3 |
| Uniform Mortgage-Backed Security 5.50% 10/1/2055 <sup>(i)(j)</sup>  | 19 | 19 |
| Uniform Mortgage-Backed Security 6.50% 10/1/2055 <sup>(i)(j)</sup>  | 63 | 65 |
| Uniform Mortgage-Backed Security 7.00% 10/1/2055 <sup>(i)(j)</sup>  | 3560 | 3724 |
| Uniform Mortgage-Backed Security 5.50% 11/1/2055 <sup>(i)(j)</sup>  | 9 | 9 |
| Uniform Mortgage-Backed Security 6.50% 11/1/2055 <sup>(i)(j)</sup>  | 46 | 48 |
|  |  | 16648 |
| **Collateralized mortgage-backed obligations (privately originated) 0.55%** |  |  |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(d)(i)(k)</sup>  | 74 | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M1, (30-day Average USD-SOFR + 2.30%) 6.656% <br> 5/25/2043 <sup>(d)(i)(k)</sup>  | 132 | 135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M1, (30-day Average USD-SOFR + 1.90%) 6.256% <br> 6/25/2043 <sup>(d)(i)(k)</sup>  | 63 | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M1, (30-day Average USD-SOFR + 1.70%) 6.056% <br> 7/25/2043 <sup>(d)(i)(k)</sup>  | 42 | 42 |

---

American Funds Insurance Series — Page 162 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Collateralized mortgage-backed obligations (privately originated) (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M2, (30-day Average USD-SOFR + 1.80%) 6.156% <br> 1/25/2044 <sup>(d)(i)(k)</sup>  | USD55 | $56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M1, (30-day Average USD-SOFR + 1.10%) 5.456% <br> 5/25/2044 <sup>(d)(i)(k)</sup>  | 55 | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M2, (30-day Average USD-SOFR + 1.65%) 6.006% <br> 5/25/2044 <sup>(d)(i)(k)</sup>  | 121 | 121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1, (30-day Average USD-SOFR + 1.00%) 5.356% <br> 2/25/2045 <sup>(d)(i)(k)</sup>  | 20 | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2025-R02, Class 1M1, (30-day Average USD-SOFR + 1.15%) 5.506% <br> 2/25/2045 <sup>(d)(i)(k)</sup>  | 48 | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA1, Class A1, (30-day Average <br> USD-SOFR + 0.95%) 5.306% 1/25/2045 <sup>(d)(i)(k)</sup>  | 27 | 27 |
| GCAT Trust, Series 2024-NQM2, Class A1, 6.085% 6/25/2059 (7.359% on 5/1/2028) <sup>(d)(e)(i)</sup>  | 206 | 209 |
| MFRA Trust, Series 2024-NQM3, Class A1, 5.722% 12/25/2069 (6.722% on 12/1/2028) <sup>(d)(e)(i)</sup>  | 103 | 104 |
| MFRA Trust, Series 2025-NQM3, Class A1, 5.261% 8/25/2070 (6.261% on 7/1/2029) <sup>(d)(e)(i)</sup>  | 99 | 99 |
| New York Mortgage Trust, Series 2024-CP1, Class A1, 3.75% 2/25/2068 <sup>(d)(i)(k)</sup>  | 85 | 79 |
| Onslow Bay Financial, LLC, Series 2024-NQM5, Class A1, 5.988% 1/25/2064 (6.988% on 3/1/2028) <sup>(d)(e)(i)</sup>  | 79 | 79 |
| Onslow Bay Financial, LLC, Series 2024-NQM7, Class A1, 6.243% 3/25/2064 (7.243% on 4/1/2028) <sup>(d)(e)(i)</sup>  | 153 | 155 |
| Onslow Bay Financial, LLC, Series 2025-NQM3, Class A1, 5.648% 12/1/2064 (6.648% on 2/1/2029) <sup>(d)(e)(i)</sup>  | 198 | 201 |
| Onslow Bay Financial, LLC, Series 2025-NQM1, Class A1, 5.547% 12/25/2064 (6.547% on 12/1/2028) <sup>(d)(e)(i)</sup>  | 207 | 209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust, Series 2025-SFR5, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.601% 2/17/2042 <sup>(d)(i)(k)</sup>  | 100 | 100 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.218% 6/25/2069 (7.218% on 5/1/2028) <sup>(d)(e)(i)</sup>  | 221 | 224 |
| Verus Securitization Trust, Series 2024-4, Class A2, 6.572% 6/25/2069 (7.572% on 5/1/2028) <sup>(d)(e)(i)</sup>  | 110 | 112 |
| Verus Securitization Trust, Series 2024-9, Class A1, 5.438% 11/25/2069 <sup>(d)(i)(k)</sup>  | 89 | 90 |
| Verus Securitization Trust, Series 2025-7, Class A1, 5.129% 8/25/2070 (6.129% on 8/1/2029) <sup>(d)(e)(i)</sup>  | 123 | 124 |
|  |  | 2425 |
| **Commercial mortgage-backed securities 0.48%** |  |  |
| BMO Mortgage Trust, Series 2024-5C8, Class AS, 5.94% 12/15/2057 <sup>(i)(k)</sup>  | 55 | 57 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 4.965% <br> 9/15/2036 <sup>(d)(i)(k)</sup>  | 145 | 145 |
| BX Trust, Series 2025-BIO3, Class A, 6.138% 2/10/2042 <sup>(d)(i)</sup>  | 140 | 145 |
| Citigroup Commercial Mortgage Trust, Series 2023-PRM3, Class A, 6.36% 7/10/2028 <sup>(d)(i)(k)</sup>  | 100 | 104 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(d)(i)(k)</sup>  | 135 | 139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class A, (1-month USD CME Term SOFR + 1.45%) 5.60% <br> 12/15/2039 <sup>(d)(i)(k)</sup>  | 24 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hawaii Hotel Trust, Series 2025-MAUI, Class A, (1-month USD CME Term SOFR + 1.393%) 5.543% <br>3/15/2042 <sup>(d)(i)(k)</sup>  | 100 | 100 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.644% 2/5/2045 <sup>(d)(i)(k)</sup>  | 157 | 163 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class A, 6.072% 5/10/2039 <sup>(d)(i)(k)</sup>  | 100 | 102 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.649% 1/13/2040 <sup>(d)(i)(k)</sup>  | 131 | 136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INTOWN Mortgage Trust, Series 2025-STAY, Class A, (1-month USD CME Term SOFR + 1.35%) 5.50% <br>3/15/2042 <sup>(d)(i)(k)</sup>  | 295 | 295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KSL Commercial Mortgage Trust, Series 2024-HT2, Class A, (1-month USD CME Term SOFR + 1.542%) 5.693% <br> 12/15/2039 <sup>(d)(i)(k)</sup>  | 131 | 131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multifamily Connecticut Avenue Securities, Series 2024-01, Class M7, (30-day Average USD-SOFR + 2.75%) <br> 7.106% 7/25/2054 <sup>(d)(i)(k)</sup>  | 51 | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, (1-month USD CME Term SOFR + 1.443%) <br> 5.593% 2/15/2042 <sup>(d)(i)(k)</sup>  | 555 | 553 |
|  |  | 2146 |

---

American Funds Insurance Series — Page 163 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Other mortgage-backed securities 0.23%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Nykredit Realkredit AS, Series 01E, 1.50% 10/1/2037 <sup>(i)</sup>  | DKK406 | $59 |
| Nykredit Realkredit AS, Series 01E, 1.50% 10/1/2040 <sup>(i)</sup>  | 1074 | 154 |
| Nykredit Realkredit AS, Series 01E, 0.50% 10/1/2043 <sup>(i)</sup>  | 5005 | 652 |
| Nykredit Realkredit AS, Series 01E, 0.50% 10/1/2050 <sup>(i)</sup>  | 443 | 51 |
| Nykredit Realkredit AS, Series CCE, 1.00% 10/1/2050 <sup>(i)</sup>  | 535 | 66 |
| Realkredit Danmark AS 1.00% 10/1/2053 <sup>(i)</sup>  | 177 | 22 |
|  |  | 1004 |
| **Total mortgage-backed obligations** |  | 22223 |
| **Asset-backed obligations 0.55%**<br> **Other asset-backed securities 0.25%**<br>|  |  |
| Castlelake Aircraft Securitization Trust, Series 2025-1A, Class A, 5.783% 2/15/2050 <sup>(d)(i)</sup> <br>| USD95 | 97 |
| EquipmentShare, Series 2024-2M, Class A, 5.70% 12/20/2032 <sup>(d)(i)</sup> <br>| 87 | 88 |
| NMEF Funding, LLC, Series 2025-A, Class A2, 4.72% 7/15/2032 <sup>(d)(i)</sup> <br>| 93 | 93 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class A, 6.27% 6/17/2031 <sup>(d)(i)</sup> <br>| 208 | 209 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class B, 7.15% 6/17/2031 <sup>(d)(i)</sup> <br>| 100 | 101 |
| PEAC Solutions Receivables, LLC, Series 2025-1A, Class A2, 4.94% 10/20/2028 <sup>(d)(i)</sup> <br>| 86 | 87 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class A3, 5.11% 11/21/2033 <sup>(d)(i)</sup> <br>| 231 | 237 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(d)(i)</sup> <br>| 192 | 193 |
|  |  | 1105 |
| **Collateralized loan obligations 0.10%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon CLO, Ltd., Series 2019-2A, Class A1R2, (3-month USD CME Term SOFR + 0.95%) 5.275% <br>1/20/2033 <sup>(d)(i)(k)</sup> <br>| 209 | 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Steele Creek CLO, Ltd., Series 2019-2A, Class ARR, (3-month USD CME Term SOFR + 1.00%) 5.318% <br>7/15/2032 <sup>(d)(i)(k)</sup> <br>| 219 | 219 |
|  |  | 427 |
| **Credit card 0.09%** |  |  |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class A1, 6.20% 8/15/2029 <sup>(d)(i)</sup> <br>| 113 | 114 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class B, 6.59% 8/15/2029 <sup>(d)(i)</sup> <br>| 100 | 101 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class A, 4.78% 12/16/2030 <sup>(d)(i)</sup> <br>| 100 | 100 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.06% 9/15/2031 <sup>(d)(i)</sup> <br>| 100 | 100 |
|  |  | 415 |
| **Auto loan 0.09%** |  |  |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-2, Class A, 5.20% 10/20/2027 <sup>(d)(i)</sup> <br>| 125 | 126 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/2029 <sup>(d)(i)</sup> <br>| 148 | 154 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class A, 4.91% 9/25/2029 <sup>(d)(i)</sup> <br>| 100 | 101 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class B, 5.038% 7/25/2031 <sup>(d)(i)</sup> <br>| 11 | 12 |
|  |  | 393 |
| **Student loan 0.02%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SMB Private Education Loan Trust, Series 2023-C, Class A1B, (30-day Average USD-SOFR + 1.55%) <br> 5.922% 11/15/2052 <sup>(d)(i)(k)</sup> <br>| 66 | 67 |
| **Total asset-backed obligations** |  | 2407 |
| **Municipals 0.03%**<br> **Ohio 0.02%**<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2020-A, 3.216% <br> 2/15/2048  | 100 | 74 |

---

American Funds Insurance Series — Page 164 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Municipals (continued)**<br> **Texas 0.01%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, 3.236% <br>10/1/2052  | USD80 | $57 |
| **Total municipals** |  | 131 |
| **Federal agency bonds & notes 0.03%** |  |  |
| Korea Development Bank 6.75% 7/1/2030  | INR10,000 | 111 |
| **Total bonds, notes & other debt instruments** (cost: $132,407,000) |  | 130863 |
| Investment funds 0.95% | Shares |  |
| Capital Group Central Corporate Bond Fund <sup>(l)</sup> <br>| 494189 | 4221 |
| **Total investment funds** (cost: $3,918,000) |  | 4221 |
| Short-term securities 7.70%<br> **Money market investments 7.35%**<br>|  |  |
| Capital Group Central Cash Fund 4.17% <sup>(l)(m)</sup>  | 324639 | 32464 |
| **Money market investments purchased with collateral from securities on loan 0.35%** |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(m)(n)</sup>  | 1550043 | 1550 |
| **Total short-term securities** (cost: $34,012,000) |  | 34014 |
| **Total investment securities 101.06%** (cost: $361,400,000) |  | 446261 |
| **Other assets less liabilities (1.06)%** |  | (4702)<br>|
| **Net assets 100.00%** |  | $441559 |

---

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 3 Month CORRA Futures | Long | 121 | 6/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD21,250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $76 |
| 3 Month CORRA Futures | Long | 35 | 9/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| 2 Year Italy Government Bond Futures | Long | 4 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| 2 Year Euro-Schatz Futures | Short | 25 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3140)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| 2 Year Canadian Government Bond Futures | Long | 14 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| 2 Year U.S. Treasury Note Futures | Long | 97 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10)<br>|
| 5 Year Euro-Bobl Futures | Long | 30 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| 5 Year Canadian Government Bond Futures | Long | 14 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| 5 Year U.S. Treasury Note Futures | Short | 1 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (109)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| 10 Year French Government Bond Futures | Short | 3 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (427)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| 10 Year Italy Government Bond Futures | Short | 8 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1126)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12)<br>|
| 10 Year Euro-Bund Futures | Short | 31 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4679)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (29)<br>|
| 10 Year Australian Treasury Bond Futures | Long | 8 | 12/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| 10 Year Japanese Government Bond Futures | Short | 8 | 12/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7346)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
| 10 Year UK Gilt Futures | Long | 35 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| 10 Year U.S. Treasury Note Futures | Long | 28 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 |

---

American Funds Insurance Series — Page 165 of 319

------

**unaudited**

Futures contracts (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and<br> unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 10 Year Ultra U.S. Treasury Note Futures | Long | 7 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1 |
| 10 Year Canadian Government Bond Futures | Long | 4 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| 20 Year U.S. Treasury Note Futures | Long | 15 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
| 30 Year Euro-Buxl Futures | Short | 11 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1479)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21)<br>|
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 11 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $178 |

---

Forward currency contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <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;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| USD | 606 | JPY | 86000 | Morgan Stanley | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $24 |
| USD | 618 | EUR | 520 | BNP Paribas | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| TRY | 8065 | USD | 191 | Barclays Bank PLC | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| USD | 179 | JPY | 26210 | Standard Chartered Bank | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| TRY | 5565 | USD | 132 | HSBC Bank | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | 661 | AUD | 995 | UBS AG | 10/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| USD | 1696 | AUD | 2571 | HSBC Bank | 10/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| EUR | 186 | CAD | 300 | JPMorgan Chase | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| EUR | 415 | GBP | 360 | Goldman Sachs | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| MYR | 2760 | USD | 655 | HSBC Bank | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| CHF | 130 | USD | 164 | Bank of America | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| JPY | 18170 | USD | 123 | JPMorgan Chase | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 108 | PLN | 390 | UBS AG | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 72 | RON | 310 | Citibank | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 124 | SGD | 160 | Bank of America | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 93 | SEK | 870 | Bank of America | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 59 | CZK | 1240 | UBS AG | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| CZK | 6760 | USD | 327 | Citibank | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 604 | MYR | 2550 | BNP Paribas | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 929 | MYR | 3920 | HSBC Bank | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| USD | 283 | MXN | 5330 | Goldman Sachs | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| ZAR | 3460 | USD | 199 | Goldman Sachs | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| EUR | 835 | USD | 981 | Citibank | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 552 | EUR | 470 | JPMorgan Chase | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 429 | EUR | 365 | Citibank | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| CNH | 21529 | USD | 3031 | Citibank | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| USD | 3807 | BRL | 20911 | JPMorgan Chase | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (114)<br>|
| USD | 571 | JPY | 82850 | BNP Paribas | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| USD | 332 | GBP | 245 | BNP Paribas | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| USD | 131 | JPY | 19070 | HSBC Bank | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | 196 | GBP | 145 | Morgan Stanley | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| EUR | 280 | USD | 329 | HSBC Bank | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| JPY | 48505 | USD | 329 | Standard Chartered Bank | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 131 | JPY | 19500 | Standard Chartered Bank | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 26831 | EUR | 22849 | Citibank | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12)<br>|
| BRL | 7755 | USD | 1419 | JPMorgan Chase | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33 |

---

American Funds Insurance Series — Page 166 of 319

------

**unaudited**

Forward currency contracts (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp;&nbsp; Settlement<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency <br> purchased<br> (000) | Currency <br> purchased<br> (000) | &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Currency sold<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp;&nbsp; Settlement<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| USD | 1023 | INR | 90280 | HSBC Bank | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $8 |
| USD | 470 | IDR | 7740641 | BNP Paribas | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| USD | 20 | CLP | 19505 | Morgan Stanley | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 263 | INR | 23410 | JPMorgan Chase | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| INR | 11490 | USD | 129 | HSBC Bank | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 291 | BRL | 1560 | Goldman Sachs | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 254 | MXN | 4785 | BNP Paribas | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| USD | 1924 | CAD | 2660 | BNP Paribas | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |
| USD | 265 | THB | 8405 | Barclays Bank PLC | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| USD | 392 | THB | 12560 | Citibank | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| CNH | 1175 | USD | 165 | Bank of America | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| EUR | 505 | USD | 593 | HSBC Bank | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 593 | EUR | 505 | Citibank | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 90 | ILS | 300 | JPMorgan Chase | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| CNH | 3195 | USD | 449 | Barclays Bank PLC | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| CAD | 175 | USD | 127 | Citibank | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 8413 | CNH | 59923 | Citibank | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| CAD | 950 | USD | 691 | Morgan Stanley | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| EUR | 1455 | USD | 1709 | Goldman Sachs | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| EUR | 215 | USD | 253 | Morgan Stanley | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 10738 | JPY | 1565634 | Morgan Stanley | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 |
| USD | 5163 | GBP | 3780 | Morgan Stanley | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79 |
| USD | 635 | EUR | 535 | Standard Chartered Bank | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| EUR | 536 | GBP | 465 | BNP Paribas | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| EUR | 395 | DKK | 2950 | Citibank | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| USD | 242 | GBP | 180 | Citibank | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| NZD | 47 | USD | 28 | HSBC Bank | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| EUR | 2790 | USD | 3279 | BNP Paribas | 10/24/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| USD | 361 | EUR | 305 | Morgan Stanley | 10/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| GBP | 464 | EUR | 530 | Morgan Stanley | 10/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | 66 | NOK | 651 | HSBC Bank | 10/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | 238 | MXN | 4405 | Morgan Stanley | 10/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 878 | CHF | 700 | Bank of America | 10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| USD | 77 | COP | 300000 | UBS AG | 10/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | 1679 | KRW | 2363730 | Citibank | 10/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| CZK | 13595 | EUR | 554 | Citibank | 11/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| JPY | 103040 | USD | 699 | JPMorgan Chase | 12/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| EUR | 315 | USD | 374 | Citibank | 12/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| CNH | 4541 | USD | 643 | HSBC Bank | 12/23/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $167 |

---

American Funds Insurance Series — Page 167 of 319

------

**unaudited**

Swap contracts

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Expiration <br>date | &nbsp;&nbsp; Notional <br>amount <br>(000) | Value at <br>9/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 9/30/2025 <br>(000) |
| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Expiration <br>date | &nbsp;&nbsp; Notional <br>amount <br>(000) | Value at <br>9/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 9/30/2025 <br>(000) |
| 3.79165% | Annual | SOFR | Annual | &nbsp;&nbsp; 1/13/2026 | USD865 | &nbsp;&nbsp; $(1)<br>| &nbsp;&nbsp; $— <br><sup>(o)</sup><br>| &nbsp;&nbsp; $(1)<br>|
| 4.254% | Annual | SONIA | Annual | &nbsp;&nbsp; 5/9/2027 | GBP70 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 |
| 2.5225% | Semi-annual | Bank of Canada Overnight Repo | Semi-annual | &nbsp;&nbsp; 5/22/2027 | CAD2,970 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; — <br><sup>(o)</sup><br>| &nbsp;&nbsp; 7 |
| 3.5175% | Annual | SOFR | Annual | &nbsp;&nbsp; 8/15/2027 | USD210 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 |
| SOFR | Annual | 3.4925% | Annual | &nbsp;&nbsp; 8/19/2027 | 8340 | &nbsp;&nbsp; (13)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (13)<br>|
| SOFR | Annual | 3.3395% | Annual | &nbsp;&nbsp; 9/23/2027 | 8510 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; — | &nbsp;&nbsp; 8 |
| 4.98038% | Annual | SONIA | Annual | &nbsp;&nbsp; 6/21/2028 | GBP267 | &nbsp;&nbsp; 11 | &nbsp;&nbsp; — | &nbsp;&nbsp; 11 |
| SOFR | Annual | 3.29015% | Annual | &nbsp;&nbsp; 1/13/2030 | USD2,870 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; — | &nbsp;&nbsp; 8 |
| 6-month EURIBOR | Semi-annual | 2.2577% | Annual | &nbsp;&nbsp; 3/5/2030 | EUR310 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 |
| 6-month EURIBOR | Semi-annual | 2.2592% | Annual | &nbsp;&nbsp; 3/5/2030 | 310 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 |
| 6-month EURIBOR | Semi-annual | 2.2562% | Annual | &nbsp;&nbsp; 3/5/2030 | 310 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 |
| 3.925% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 3/5/2030 | NOK3,700 | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (2)<br>|
| 6-month EURIBOR | Semi-annual | 2.1912% | Annual | &nbsp;&nbsp; 3/6/2030 | EUR280 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2 |
| 3.947% | Annual | SONIA | Annual | &nbsp;&nbsp; 3/20/2030 | GBP410 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3 |
| 4.1703% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 3/24/2030 | NOK960 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 |
| 4.165% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 3/24/2030 | 1500 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 |
| 4.162% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 3/24/2030 | 970 | &nbsp;&nbsp; — <br><sup>(o)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| 4.165% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 3/25/2030 | 3540 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 |
| 6-month NOK-NIBOR | Semi-annual | 3.99% | Annual | &nbsp;&nbsp; 9/22/2030 | 2420 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 |
| 6-month NOK-NIBOR | Semi-annual | 4.08% | Annual | &nbsp;&nbsp; 9/23/2030 | 2390 | &nbsp;&nbsp; — <br><sup>(o)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| 6-month NOK-NIBOR | Semi-annual | 4.09% | Annual | &nbsp;&nbsp; 9/23/2030 | 1220 | &nbsp;&nbsp; — <br><sup>(o)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| 6-month NOK-NIBOR | Semi-annual | 4.095% | Annual | &nbsp;&nbsp; 9/23/2030 | 2390 | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1)<br>|
| SONIA | Annual | 4.36738% | Annual | &nbsp;&nbsp; 6/21/2033 | GBP62 | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (2)<br>|
| 6-month EURIBOR | Semi-annual | 2.8972% | Annual | &nbsp;&nbsp; 9/11/2055 | EUR180 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1 |
| SOFR | Annual | 3.9305% | Annual | &nbsp;&nbsp; 9/23/2055 | USD940 | &nbsp;&nbsp; — <br><sup>(o)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(o)</sup><br>|
|  |  |  |  |  |  | &nbsp;&nbsp; $30 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $30 |

---

**Bilateral interest rate swaps** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Counterparty | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>9/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 9/30/2025 <br>(000) |
| Rate | Payment <br>frequency<br>| Rate | Payment <br>frequency<br>| Counterparty | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>9/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 9/30/2025 <br>(000) |
| 11.91% | At maturity | BZDIOVER | At maturity | Barclays Bank <br> PLC<br>| 1/4/2027 | BRL2,940 | $(22)<br>| $— | $(22)<br>|
| 13.995% | At maturity | BZDIOVER | At maturity | Barclays Bank <br> PLC<br>| 1/2/2029 | 6010 | 26 |  | 26 |
| 14.115% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2029 | 1660 | 9 |  | 9 |
| 14.05% | At maturity | BZDIOVER | At maturity | Barclays Bank <br> PLC<br>| 1/2/2029 | 1210 | 6 |  | 6 |
| 14.05% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2029 | 740 | 3 |  | 3 |
| 11.495% | At maturity | BZDIOVER | At maturity | Bank of America | 1/2/2029 | 3810 | (52)<br>|  | (52)<br>|
| 10.045% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2029 | 9330 | (255)<br>|  | (255)<br>|
|  |  |  |  |  |  |  | $(285)<br>| $— | $(285)<br>|

---

American Funds Insurance Series — Page 168 of 319

------

**unaudited**

Swap contracts (continued)

------

**Interest rate swaps (continued)**

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | USD145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(4)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(4)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(o)</sup><br>|
| CDX.NA.IG.45 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | 729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
| ITRAXX.EUR.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | EUR1,520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(o)</sup><br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(58)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(58)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(o)</sup><br>|

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Investment funds 0.95%** | **Investment funds 0.95%** | **Investment funds 0.95%** | **Investment funds 0.95%** | **Investment funds 0.95%** | **Investment funds 0.95%** | **Investment funds 0.95%** | **Investment funds 0.95%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Corporate Bond Fund  | $3953 | &nbsp;&nbsp; $146 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $122 | &nbsp;&nbsp; $4221 | &nbsp;&nbsp; $146 |
| **Short-term securities 7.35%** | **Short-term securities 7.35%** | **Short-term securities 7.35%** | **Short-term securities 7.35%** | **Short-term securities 7.35%** | **Short-term securities 7.35%** | **Short-term securities 7.35%** | **Short-term securities 7.35%** |
| **Money market investments 7.35%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(m)</sup> <br>| 22187 | &nbsp;&nbsp; 89655 | &nbsp;&nbsp; 79374 | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; 32464 | &nbsp;&nbsp; 831 |
| **Total 8.30%** |  |  |  | &nbsp;&nbsp; $(2)<br>| &nbsp;&nbsp; $120 | &nbsp;&nbsp; $36685 | &nbsp;&nbsp; $977 |

---

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

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Co. 3.90% 7/22/2032 (3-month EUR-EURIBOR + 1.22% on <br> 7/22/2031) <sup>(e)</sup> <br>| 12/4/2024 | $164 | $182 | 0.04<br> %<br>|
| McDonalds Corp. 1.60% 3/15/2031  | 9/30/2024 | 103 | 109 | 0.03 |
| **Total** |  | $267 | $291 | 0.07<br> %<br>|

---

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

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

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

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

<sup>(d)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $10,951,000, which represented 2.48% of the net assets of the fund. 

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

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

<sup>(g)</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>(h)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $1,744,000, which represented 0.39% of the net assets of the fund. 

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

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

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

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

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

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

American Funds Insurance Series — Page 169 of 319

------

**unaudited**

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| AUD = Australian dollars |
| BRL = Brazilian reais |
| BZDIOVER = Overnight Brazilian Interbank Deposit Rate |
| CAD = Canadian dollars |
| CHF = Swiss francs |
| CLO = Collateralized Loan Obligations |
| CLP = Chilean pesos |
| CME = CME Group |
| CNH = Chinese yuan renminbi |
| CNY = Chinese yuan renminbi |
| COP = Colombian pesos |
| CORRA = Canadian Overnight Repo Rate Average |
| CZK = Czech korunas |
| DKK = Danish kroner |
| EUR = Euros |
| EURIBOR = Euro Interbank Offered Rate |
| GBP = British pounds |
| ICE = Intercontinental Exchange, Inc. |
| IDR = Indonesian rupiah |
| ILS = Israeli shekels |
| INR = Indian rupees |
| JPY = Japanese yen |

---

---

| |
|:---|
| KRW = South Korean won |
| LIBOR = London Interbank Offered Rate |
| MXN = Mexican pesos |
| MYR = Malaysian ringgits |
| NIBOR = Norwegian Interbank Offered Rate |
| NOK = Norwegian kroner |
| NZD = New Zealand dollars |
| PIK = Payment In Kind |
| PLN = Polish zloty |
| Ref. = Refunding |
| REIT = Real Estate Investment Trust |
| Rev. = Revenue |
| RON = Romanian leu |
| SEK = Swedish kronor |
| SGD = Singapore dollars |
| SOFR = Secured Overnight Financing Rate |
| SONIA = Sterling Overnight Interbank Average Rate |
| TBA = To be announced |
| THB = Thai baht |
| TRY = Turkish lira |
| USD = U.S. dollars |
| UST = U.S. Treasury |
| ZAR = South African rand |

---

American Funds Insurance Series — Page 170 of 319

------

**The Bond Fund of America**<sup>®</sup>

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 95.55%<br> **Mortgage-backed obligations 34.25%**<br> **Federal agency mortgage-backed obligations 27.93%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #AR3058 3.00% 1/1/2028 <sup>(a)</sup>  | USD19 | $19 |
| Fannie Mae Pool #AS8018 3.00% 9/1/2031 <sup>(a)</sup>  | 24 | 24 |
| Fannie Mae Pool #BM4741 3.00% 4/1/2032 <sup>(a)</sup>  | 10 | 10 |
| Fannie Mae Pool #FM2499 2.50% 2/1/2035 <sup>(a)</sup>  | 1978 | 1881 |
| Fannie Mae Pool #CB2248 2.50% 11/1/2036 <sup>(a)</sup>  | 96 | 91 |
| Fannie Mae Pool #913966 6.00% 2/1/2037 <sup>(a)</sup>  | 30 | 31 |
| Fannie Mae Pool #CB3701 2.50% 5/1/2037 <sup>(a)</sup>  | 1680 | 1581 |
| Fannie Mae Pool #MA4665 2.50% 7/1/2037 <sup>(a)</sup>  | 704 | 663 |
| Fannie Mae Pool #945680 6.00% 9/1/2037 <sup>(a)</sup>  | 321 | 339 |
| Fannie Mae Pool #924866 6.015% 10/1/2037 <sup>(a)(b)</sup>  | 127 | 127 |
| Fannie Mae Pool #988588 5.50% 8/1/2038 <sup>(a)</sup>  | 142 | 147 |
| Fannie Mae Pool #889982 5.50% 11/1/2038 <sup>(a)</sup>  | 617 | 641 |
| Fannie Mae Pool #AB1297 5.00% 8/1/2040 <sup>(a)</sup>  | 137 | 141 |
| Fannie Mae Pool #AH8144 5.00% 4/1/2041 <sup>(a)</sup>  | 694 | 707 |
| Fannie Mae Pool #AH9479 5.00% 4/1/2041 <sup>(a)</sup>  | 673 | 690 |
| Fannie Mae Pool #FM7365 2.00% 5/1/2041 <sup>(a)</sup>  | 104557 | 91025 |
| Fannie Mae Pool #AI1862 5.00% 5/1/2041 <sup>(a)</sup>  | 649 | 665 |
| Fannie Mae Pool #AI3510 5.00% 6/1/2041 <sup>(a)</sup>  | 326 | 334 |
| Fannie Mae Pool #AJ0704 5.00% 9/1/2041 <sup>(a)</sup>  | 301 | 309 |
| Fannie Mae Pool #AJ5391 5.00% 11/1/2041 <sup>(a)</sup>  | 170 | 174 |
| Fannie Mae Pool #AZ3904 4.00% 5/1/2045 <sup>(a)</sup>  | 38 | 37 |
| Fannie Mae Pool #FM9416 3.50% 7/1/2045 <sup>(a)</sup>  | 1576 | 1482 |
| Fannie Mae Pool #AL8522 3.50% 5/1/2046 <sup>(a)</sup>  | 683 | 642 |
| Fannie Mae Pool #BD1968 4.00% 7/1/2046 <sup>(a)</sup>  | 733 | 704 |
| Fannie Mae Pool #BD5477 4.00% 7/1/2046 <sup>(a)</sup>  | 116 | 112 |
| Fannie Mae Pool #BM5148 4.00% 10/1/2046 <sup>(a)</sup>  | 4201 | 4055 |
| Fannie Mae Pool #BE0592 4.00% 11/1/2046 <sup>(a)</sup>  | 292 | 276 |
| Fannie Mae Pool #BE8885 4.00% 3/1/2047 <sup>(a)</sup>  | 710 | 684 |
| Fannie Mae Pool #MA3058 4.00% 7/1/2047 <sup>(a)</sup>  | 32 | 31 |
| Fannie Mae Pool #CA0770 3.50% 11/1/2047 <sup>(a)</sup>  | 3780 | 3512 |
| Fannie Mae Pool #BJ1515 4.00% 11/1/2047 <sup>(a)</sup>  | 1739 | 1674 |
| Fannie Mae Pool #CA0706 4.00% 11/1/2047 <sup>(a)</sup>  | 67 | 65 |
| Fannie Mae Pool #BM4413 4.50% 12/1/2047 <sup>(a)</sup>  | 2031 | 2006 |
| Fannie Mae Pool #CA1189 3.50% 2/1/2048 <sup>(a)</sup>  | 1062 | 986 |
| Fannie Mae Pool #BJ5749 4.00% 5/1/2048 <sup>(a)</sup>  | 14 | 13 |
| Fannie Mae Pool #BF0293 3.00% 7/1/2048 <sup>(a)</sup>  | 5289 | 4762 |
| Fannie Mae Pool #BF0318 3.50% 8/1/2048 <sup>(a)</sup>  | 3922 | 3650 |
| Fannie Mae Pool #BM5349 4.00% 9/1/2048 <sup>(a)</sup>  | 17228 | 16589 |
| Fannie Mae Pool #FM4891 3.50% 10/1/2048 <sup>(a)</sup>  | 15992 | 14978 |
| Fannie Mae Pool #BM4676 4.00% 10/1/2048 <sup>(a)</sup>  | 9 | 9 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049 <sup>(a)</sup>  | 408 | 384 |
| Fannie Mae Pool #CA3807 3.00% 7/1/2049 <sup>(a)</sup>  | 1091 | 985 |
| Fannie Mae Pool #CA3806 3.00% 7/1/2049 <sup>(a)</sup>  | 737 | 666 |
| Fannie Mae Pool #FS5372 3.50% 7/1/2049 <sup>(a)</sup>  | 2123 | 1984 |
| Fannie Mae Pool #FM1262 4.00% 7/1/2049 <sup>(a)</sup>  | 17273 | 16584 |

---

American Funds Insurance Series — Page 171 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #FM0007 3.50% 9/1/2049 <sup>(a)</sup>  | USD12,208 | $11327 |
| Fannie Mae Pool #FM1589 3.50% 9/1/2049 <sup>(a)</sup>  | 3311 | 3061 |
| Fannie Mae Pool #FM1954 3.50% 11/1/2049 <sup>(a)</sup>  | 5212 | 4818 |
| Fannie Mae Pool #FS5313 3.50% 1/1/2050 <sup>(a)</sup>  | 24296 | 22653 |
| Fannie Mae Pool #CA5504 2.50% 4/1/2050 <sup>(a)</sup>  | 11 | 9 |
| Fannie Mae Pool #CA5968 2.50% 6/1/2050 <sup>(a)</sup>  | 4875 | 4189 |
| Fannie Mae Pool #CA6168 2.50% 6/1/2050 <sup>(a)</sup>  | 527 | 445 |
| Fannie Mae Pool #FM5507 3.00% 7/1/2050 <sup>(a)</sup>  | 15120 | 13579 |
| Fannie Mae Pool #CA6309 3.00% 7/1/2050 <sup>(a)</sup>  | 5082 | 4586 |
| Fannie Mae Pool #CA6349 3.00% 7/1/2050 <sup>(a)</sup>  | 1656 | 1462 |
| Fannie Mae Pool #CA6727 2.50% 8/1/2050 <sup>(a)</sup>  | 4663 | 3942 |
| Fannie Mae Pool #CA6918 2.50% 8/1/2050 <sup>(a)</sup>  | 947 | 800 |
| Fannie Mae Pool #FP0058 2.50% 8/1/2050 <sup>(a)</sup>  | 602 | 508 |
| Fannie Mae Pool #CA6740 3.00% 8/1/2050 <sup>(a)</sup>  | 935 | 825 |
| Fannie Mae Pool #BQ1226 2.00% 9/1/2050 <sup>(a)</sup>  | 1590 | 1295 |
| Fannie Mae Pool #BP6715 2.00% 9/1/2050 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #CA7040 2.50% 9/1/2050 <sup>(a)</sup>  | 16863 | 14230 |
| Fannie Mae Pool #FM4256 2.50% 9/1/2050 <sup>(a)</sup>  | 2550 | 2196 |
| Fannie Mae Pool #CA7028 2.50% 9/1/2050 <sup>(a)</sup>  | 875 | 754 |
| Fannie Mae Pool #FM7195 2.50% 9/1/2050 <sup>(a)</sup>  | 408 | 344 |
| Fannie Mae Pool #CA7052 3.00% 9/1/2050 <sup>(a)</sup>  | 299 | 265 |
| Fannie Mae Pool #CA7529 2.50% 10/1/2050 <sup>(a)</sup>  | 878 | 741 |
| Fannie Mae Pool #CA7257 2.50% 10/1/2050 <sup>(a)</sup>  | 248 | 213 |
| Fannie Mae Pool #FM4684 2.50% 10/1/2050 <sup>(a)</sup>  | 188 | 160 |
| Fannie Mae Pool #FP0034 2.50% 10/1/2050 <sup>(a)</sup>  | 177 | 149 |
| Fannie Mae Pool #CA7381 3.00% 10/1/2050 <sup>(a)</sup>  | 1424 | 1257 |
| Fannie Mae Pool #FM4870 2.00% 11/1/2050 <sup>(a)</sup>  | 1779 | 1436 |
| Fannie Mae Pool #CA7599 2.50% 11/1/2050 <sup>(a)</sup>  | 5918 | 5099 |
| Fannie Mae Pool #FM5309 2.50% 11/1/2050 <sup>(a)</sup>  | 1086 | 917 |
| Fannie Mae Pool #BQ7564 2.50% 11/1/2050 <sup>(a)</sup>  | 654 | 553 |
| Fannie Mae Pool #CA7743 2.50% 11/1/2050 <sup>(a)</sup>  | 25 | 21 |
| Fannie Mae Pool #FM4897 3.00% 11/1/2050 <sup>(a)</sup>  | 14550 | 13150 |
| Fannie Mae Pool #MA4208 2.00% 12/1/2050 <sup>(a)</sup>  | 1025 | 835 |
| Fannie Mae Pool #FM5166 3.00% 12/1/2050 <sup>(a)</sup>  | 999 | 882 |
| Fannie Mae Pool #MA4237 2.00% 1/1/2051 <sup>(a)</sup>  | 6431 | 5237 |
| Fannie Mae Pool #BR4104 2.00% 1/1/2051 <sup>(a)</sup>  | 4917 | 4007 |
| Fannie Mae Pool #CA8587 2.00% 1/1/2051 <sup>(a)</sup>  | 41 | 33 |
| Fannie Mae Pool #FM6113 2.50% 1/1/2051 <sup>(a)</sup>  | 20737 | 17608 |
| Fannie Mae Pool #FS5929 2.50% 1/1/2051 <sup>(a)</sup>  | 1530 | 1293 |
| Fannie Mae Pool #FS3550 2.50% 1/1/2051 <sup>(a)</sup>  | 925 | 781 |
| Fannie Mae Pool #FM6293 3.00% 1/1/2051 <sup>(a)</sup>  | 63 | 56 |
| Fannie Mae Pool #BR3283 2.00% 2/1/2051 <sup>(a)</sup>  | 3254 | 2626 |
| Fannie Mae Pool #FM6332 2.00% 2/1/2051 <sup>(a)</sup>  | 699 | 564 |
| Fannie Mae Pool #BR2666 2.00% 2/1/2051 <sup>(a)</sup>  | 372 | 304 |
| Fannie Mae Pool #CA8828 2.50% 2/1/2051 <sup>(a)</sup>  | 4898 | 4200 |
| Fannie Mae Pool #CA9289 2.50% 2/1/2051 <sup>(a)</sup>  | 3446 | 2915 |
| Fannie Mae Pool #FM6556 2.00% 3/1/2051 <sup>(a)</sup>  | 345 | 278 |
| Fannie Mae Pool #FM6764 2.50% 3/1/2051 <sup>(a)</sup>  | 7288 | 6148 |
| Fannie Mae Pool #CA9390 2.50% 3/1/2051 <sup>(a)</sup>  | 1684 | 1420 |
| Fannie Mae Pool #BQ7729 2.50% 3/1/2051 <sup>(a)</sup>  | 949 | 800 |
| Fannie Mae Pool #BR3771 2.00% 4/1/2051 <sup>(a)</sup>  | 8485 | 6867 |
| Fannie Mae Pool #BR7191 2.00% 4/1/2051 <sup>(a)</sup>  | 1817 | 1467 |
| Fannie Mae Pool #BR7719 2.00% 4/1/2051 <sup>(a)</sup>  | 568 | 458 |
| Fannie Mae Pool #MA4305 2.00% 4/1/2051 <sup>(a)</sup>  | 28 | 23 |

---

American Funds Insurance Series — Page 172 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #BN9135 2.50% 4/1/2051 <sup>(a)</sup>  | USD4,846 | $4088 |
| Fannie Mae Pool #FM6871 2.50% 4/1/2051 <sup>(a)</sup>  | 4569 | 3854 |
| Fannie Mae Pool #MA4306 2.50% 4/1/2051 <sup>(a)</sup>  | 2413 | 2049 |
| Fannie Mae Pool #FS0030 2.50% 4/1/2051 <sup>(a)</sup>  | 170 | 144 |
| Fannie Mae Pool #FM6965 2.50% 4/1/2051 <sup>(a)</sup>  | 115 | 97 |
| Fannie Mae Pool #CB0191 3.00% 4/1/2051 <sup>(a)</sup>  | 2990 | 2652 |
| Fannie Mae Pool #CB0193 3.00% 4/1/2051 <sup>(a)</sup>  | 364 | 324 |
| Fannie Mae Pool #BT0519 2.00% 5/1/2051 <sup>(a)</sup>  | 10528 | 8496 |
| Fannie Mae Pool #FM7411 2.00% 5/1/2051 <sup>(a)</sup>  | 1747 | 1410 |
| Fannie Mae Pool #BR1035 2.00% 5/1/2051 <sup>(a)</sup>  | 17 | 13 |
| Fannie Mae Pool #FM7325 2.50% 5/1/2051 <sup>(a)</sup>  | 1875 | 1589 |
| Fannie Mae Pool #CB0396 2.50% 5/1/2051 <sup>(a)</sup>  | 1767 | 1490 |
| Fannie Mae Pool #FM7408 2.50% 5/1/2051 <sup>(a)</sup>  | 583 | 492 |
| Fannie Mae Pool #BR0999 2.50% 5/1/2051 <sup>(a)</sup>  | 469 | 396 |
| Fannie Mae Pool #FM7409 2.50% 5/1/2051 <sup>(a)</sup>  | 159 | 134 |
| Fannie Mae Pool #FM7222 2.50% 5/1/2051 <sup>(a)</sup>  | 32 | 27 |
| Fannie Mae Pool #FM7304 2.50% 5/1/2051 <sup>(a)</sup>  | 27 | 22 |
| Fannie Mae Pool #BT0136 2.00% 6/1/2051 <sup>(a)</sup>  | 1840 | 1485 |
| Fannie Mae Pool #FM7803 2.00% 6/1/2051 <sup>(a)</sup>  | 490 | 402 |
| Fannie Mae Pool #CB0844 2.50% 6/1/2051 <sup>(a)</sup>  | 765 | 645 |
| Fannie Mae Pool #FM7740 2.50% 6/1/2051 <sup>(a)</sup>  | 46 | 39 |
| Fannie Mae Pool #FM7909 3.00% 6/1/2051 <sup>(a)</sup>  | 272 | 241 |
| Fannie Mae Pool #FM7510 3.00% 6/1/2051 <sup>(a)</sup>  | 192 | 170 |
| Fannie Mae Pool #MA4378 2.00% 7/1/2051 <sup>(a)</sup>  | 76 | 62 |
| Fannie Mae Pool #CB0988 2.50% 7/1/2051 <sup>(a)</sup>  | 8526 | 7270 |
| Fannie Mae Pool #BT0849 2.50% 7/1/2051 <sup>(a)</sup>  | 4691 | 3964 |
| Fannie Mae Pool #FM9530 2.50% 7/1/2051 <sup>(a)</sup>  | 4389 | 3703 |
| Fannie Mae Pool #FM8315 2.50% 7/1/2051 <sup>(a)</sup>  | 989 | 837 |
| Fannie Mae Pool #CB1134 2.50% 7/1/2051 <sup>(a)</sup>  | 917 | 774 |
| Fannie Mae Pool #BT1288 2.50% 7/1/2051 <sup>(a)</sup>  | 563 | 476 |
| Fannie Mae Pool #FM7900 2.50% 7/1/2051 <sup>(a)</sup>  | 418 | 359 |
| Fannie Mae Pool #CB1066 2.50% 7/1/2051 <sup>(a)</sup>  | 208 | 176 |
| Fannie Mae Pool #CB0998 3.00% 7/1/2051 <sup>(a)</sup>  | 1960 | 1723 |
| Fannie Mae Pool #CB1304 3.00% 8/1/2051 <sup>(a)</sup>  | 1305 | 1154 |
| Fannie Mae Pool #BT7309 2.00% 9/1/2051 <sup>(a)</sup>  | 10753 | 8677 |
| Fannie Mae Pool #FS1630 2.50% 9/1/2051 <sup>(a)</sup>  | 3068 | 2588 |
| Fannie Mae Pool #FM8761 2.50% 9/1/2051 <sup>(a)</sup>  | 1929 | 1630 |
| Fannie Mae Pool #CB1527 2.50% 9/1/2051 <sup>(a)</sup>  | 1018 | 866 |
| Fannie Mae Pool #CB1552 2.50% 9/1/2051 <sup>(a)</sup>  | 472 | 401 |
| Fannie Mae Pool #FS4711 2.50% 9/1/2051 <sup>(a)</sup>  | 429 | 362 |
| Fannie Mae Pool #BQ7428 2.50% 9/1/2051 <sup>(a)</sup>  | 309 | 262 |
| Fannie Mae Pool #BT7263 2.50% 9/1/2051 <sup>(a)</sup>  | 295 | 249 |
| Fannie Mae Pool #FM8692 2.50% 9/1/2051 <sup>(a)</sup>  | 55 | 46 |
| Fannie Mae Pool #FM8827 2.00% 10/1/2051 <sup>(a)</sup>  | 1633 | 1318 |
| Fannie Mae Pool #FS5125 2.50% 10/1/2051 <sup>(a)</sup>  | 313 | 264 |
| Fannie Mae Pool #FS4628 3.00% 10/1/2051 <sup>(a)</sup>  | 2976 | 2639 |
| Fannie Mae Pool #MA4465 2.00% 11/1/2051 <sup>(a)</sup>  | 4353 | 3532 |
| Fannie Mae Pool #FS0965 2.00% 11/1/2051 <sup>(a)</sup>  | 127 | 103 |
| Fannie Mae Pool #CB2088 2.50% 11/1/2051 <sup>(a)</sup>  | 93 | 79 |
| Fannie Mae Pool #FM9810 3.00% 11/1/2051 <sup>(a)</sup>  | 877 | 780 |
| Fannie Mae Pool #MA4492 2.00% 12/1/2051 <sup>(a)</sup>  | 797 | 647 |
| Fannie Mae Pool #FS2824 2.50% 12/1/2051 <sup>(a)</sup>  | 32330 | 27273 |
| Fannie Mae Pool #FM9672 2.50% 12/1/2051 <sup>(a)</sup>  | 1906 | 1610 |
| Fannie Mae Pool #CB2787 3.50% 12/1/2051 <sup>(a)</sup>  | 21 | 19 |

---

American Funds Insurance Series — Page 173 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #BQ7006 2.00% 1/1/2052 <sup>(a)</sup>  | USD1,821 | $1472 |
| Fannie Mae Pool #BU7233 2.00% 1/1/2052 <sup>(a)</sup>  | 919 | 741 |
| Fannie Mae Pool #CB2644 2.50% 1/1/2052 <sup>(a)</sup>  | 5890 | 4969 |
| Fannie Mae Pool #FS6479 2.50% 1/1/2052 <sup>(a)</sup>  | 4384 | 3704 |
| Fannie Mae Pool #FS0392 2.50% 1/1/2052 <sup>(a)</sup>  | 2070 | 1746 |
| Fannie Mae Pool #FS4203 2.50% 1/1/2052 <sup>(a)</sup>  | 1106 | 933 |
| Fannie Mae Pool #FS5613 2.50% 1/1/2052 <sup>(a)</sup>  | 332 | 280 |
| Fannie Mae Pool #FS0454 3.00% 1/1/2052 <sup>(a)</sup>  | 943 | 838 |
| Fannie Mae Pool #BV3076 2.00% 2/1/2052 <sup>(a)</sup>  | 14835 | 12005 |
| Fannie Mae Pool #MA4547 2.00% 2/1/2052 <sup>(a)</sup>  | 2455 | 1985 |
| Fannie Mae Pool #BV3083 2.00% 2/1/2052 <sup>(a)</sup>  | 804 | 651 |
| Fannie Mae Pool #BT1967 2.50% 2/1/2052 <sup>(a)</sup>  | 1635 | 1387 |
| Fannie Mae Pool #MA4548 2.50% 2/1/2052 <sup>(a)</sup>  | 867 | 733 |
| Fannie Mae Pool #FS1080 2.50% 2/1/2052 <sup>(a)</sup>  | 717 | 605 |
| Fannie Mae Pool #FS2660 2.50% 2/1/2052 <sup>(a)</sup>  | 481 | 406 |
| Fannie Mae Pool #FS1885 2.50% 2/1/2052 <sup>(a)</sup>  | 431 | 364 |
| Fannie Mae Pool #CB3099 2.50% 2/1/2052 <sup>(a)</sup>  | 254 | 216 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052 <sup>(a)</sup>  | 31879 | 28541 |
| Fannie Mae Pool #BV3101 2.00% 3/1/2052 <sup>(a)</sup>  | 1541 | 1247 |
| Fannie Mae Pool #MA4562 2.00% 3/1/2052 <sup>(a)</sup>  | 1233 | 1000 |
| Fannie Mae Pool #FS1742 2.00% 3/1/2052 <sup>(a)</sup>  | 1055 | 856 |
| Fannie Mae Pool #BV4172 2.00% 3/1/2052 <sup>(a)</sup>  | 853 | 690 |
| Fannie Mae Pool #BV4133 2.50% 3/1/2052 <sup>(a)</sup>  | 2691 | 2273 |
| Fannie Mae Pool #CB3031 2.50% 3/1/2052 <sup>(a)</sup>  | 1732 | 1468 |
| Fannie Mae Pool #FS4433 2.50% 3/1/2052 <sup>(a)</sup>  | 634 | 538 |
| Fannie Mae Pool #BV4119 2.50% 3/1/2052 <sup>(a)</sup>  | 353 | 298 |
| Fannie Mae Pool #MA4563 2.50% 3/1/2052 <sup>(a)</sup>  | 34 | 29 |
| Fannie Mae Pool #BV4199 3.00% 3/1/2052 <sup>(a)</sup>  | 5018 | 4418 |
| Fannie Mae Pool #FS1374 3.00% 3/1/2052 <sup>(a)</sup>  | 993 | 874 |
| Fannie Mae Pool #CB3346 2.00% 4/1/2052 <sup>(a)</sup>  | 5556 | 4484 |
| Fannie Mae Pool #FS1598 2.00% 4/1/2052 <sup>(a)</sup>  | 1632 | 1321 |
| Fannie Mae Pool #MA4577 2.00% 4/1/2052 <sup>(a)</sup>  | 735 | 596 |
| Fannie Mae Pool #CB3354 2.50% 4/1/2052 <sup>(a)</sup>  | 31243 | 26355 |
| Fannie Mae Pool #BV4656 2.50% 4/1/2052 <sup>(a)</sup>  | 1517 | 1284 |
| Fannie Mae Pool #CB3247 3.00% 4/1/2052 <sup>(a)</sup>  | 238 | 209 |
| Fannie Mae Pool #CB3379 4.00% 4/1/2052 <sup>(a)</sup>  | 1407 | 1331 |
| Fannie Mae Pool #FS1655 4.00% 4/1/2052 <sup>(a)</sup>  | 259 | 245 |
| Fannie Mae Pool #FS9189 2.00% 5/1/2052 <sup>(a)</sup>  | 3657 | 2967 |
| Fannie Mae Pool #FS8650 2.50% 5/1/2052 <sup>(a)</sup>  | 20403 | 17232 |
| Fannie Mae Pool #BV9644 2.50% 5/1/2052 <sup>(a)</sup>  | 2130 | 1805 |
| Fannie Mae Pool #MA4598 2.50% 5/1/2052 <sup>(a)</sup>  | 948 | 803 |
| Fannie Mae Pool #FS7060 3.00% 5/1/2052 <sup>(a)</sup>  | 6345 | 5586 |
| Fannie Mae Pool #MA4623 2.50% 6/1/2052 <sup>(a)</sup>  | 147 | 125 |
| Fannie Mae Pool #CB4021 4.00% 6/1/2052 <sup>(a)</sup>  | 2860 | 2705 |
| Fannie Mae Pool #BW1931 5.00% 6/1/2052 <sup>(a)</sup>  | 3060 | 3048 |
| Fannie Mae Pool #BT8262 5.00% 6/1/2052 <sup>(a)</sup>  | 1367 | 1365 |
| Fannie Mae Pool #FS7879 2.50% 7/1/2052 <sup>(a)</sup>  | 11168 | 9421 |
| Fannie Mae Pool #FS6631 2.50% 7/1/2052 <sup>(a)</sup>  | 724 | 613 |
| Fannie Mae Pool #CB4274 2.50% 7/1/2052 <sup>(a)</sup>  | 425 | 358 |
| Fannie Mae Pool #FS5493 2.50% 7/1/2052 <sup>(a)</sup>  | 134 | 113 |
| Fannie Mae Pool #BW0959 5.00% 7/1/2052 <sup>(a)</sup>  | 2776 | 2770 |
| Fannie Mae Pool #BV8976 5.00% 8/1/2052 <sup>(a)</sup>  | 547 | 548 |
| Fannie Mae Pool #FS2805 2.50% 9/1/2052 <sup>(a)</sup>  | 443 | 374 |
| Fannie Mae Pool #BW1192 4.50% 9/1/2052 <sup>(a)</sup>  | 250 | 243 |

---

American Funds Insurance Series — Page 174 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #BW8497 4.50% 9/1/2052 <sup>(a)</sup>  | USD58 | $57 |
| Fannie Mae Pool #CB4620 5.00% 9/1/2052 <sup>(a)</sup>  | 8290 | 8307 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(a)</sup>  | 8930 | 7233 |
| Fannie Mae Pool #CB4852 4.50% 10/1/2052 <sup>(a)</sup>  | 9491 | 9253 |
| Fannie Mae Pool #BX0097 4.50% 10/1/2052 <sup>(a)</sup>  | 2507 | 2442 |
| Fannie Mae Pool #MA4785 5.00% 10/1/2052 <sup>(a)</sup>  | 2392 | 2385 |
| Fannie Mae Pool #BW1289 5.50% 10/1/2052 <sup>(a)</sup>  | 2747 | 2784 |
| Fannie Mae Pool #BW1243 5.50% 10/1/2052 <sup>(a)</sup>  | 2474 | 2508 |
| Fannie Mae Pool #MA4820 6.50% 10/1/2052 <sup>(a)</sup>  | 204 | 212 |
| Fannie Mae Pool #BX1132 4.50% 11/1/2052 <sup>(a)</sup>  | 842 | 820 |
| Fannie Mae Pool #BX5673 5.00% 12/1/2052 <sup>(a)</sup>  | 132 | 131 |
| Fannie Mae Pool #CB5778 6.00% 12/1/2052 <sup>(a)</sup>  | 35 | 36 |
| Fannie Mae Pool #MA4932 3.00% 1/1/2053 <sup>(a)</sup>  | 575 | 505 |
| Fannie Mae Pool #BX5927 4.00% 1/1/2053 <sup>(a)</sup>  | 271 | 256 |
| Fannie Mae Pool #FS6769 5.00% 1/1/2053 <sup>(a)</sup>  | 20504 | 20445 |
| Fannie Mae Pool #FS4435 2.50% 2/1/2053 <sup>(a)</sup>  | 675 | 570 |
| Fannie Mae Pool #MA4916 4.00% 2/1/2053 <sup>(a)</sup>  | 4509 | 4254 |
| Fannie Mae Pool #MA4918 5.00% 2/1/2053 <sup>(a)</sup>  | 578 | 576 |
| Fannie Mae Pool #BW5268 4.00% 3/1/2053 <sup>(a)</sup>  | 318 | 300 |
| Fannie Mae Pool #CB5986 5.00% 3/1/2053 <sup>(a)</sup>  | 149 | 148 |
| Fannie Mae Pool #BX7779 5.50% 3/1/2053 <sup>(a)</sup>  | 3763 | 3819 |
| Fannie Mae Pool #FS4191 5.50% 3/1/2053 <sup>(a)</sup>  | 403 | 409 |
| Fannie Mae Pool #BX7949 6.00% 3/1/2053 <sup>(a)</sup>  | 915 | 939 |
| Fannie Mae Pool #CB5912 6.00% 3/1/2053 <sup>(a)</sup>  | 797 | 822 |
| Fannie Mae Pool #MA4993 4.00% 4/1/2053 <sup>(a)</sup>  | 4244 | 4008 |
| Fannie Mae Pool #MA4977 4.50% 4/1/2053 <sup>(a)</sup>  | 642 | 625 |
| Fannie Mae Pool #MA4978 5.00% 4/1/2053 <sup>(a)</sup>  | 15202 | 15155 |
| Fannie Mae Pool #BX9041 5.00% 4/1/2053 <sup>(a)</sup>  | 85 | 85 |
| Fannie Mae Pool #BY0130 5.50% 4/1/2053 <sup>(a)</sup>  | 945 | 958 |
| Fannie Mae Pool #CB6033 6.00% 4/1/2053 <sup>(a)</sup>  | 17574 | 18131 |
| Fannie Mae Pool #MA5027 4.00% 5/1/2053 <sup>(a)</sup>  | 4609 | 4353 |
| Fannie Mae Pool #CB6985 4.00% 5/1/2053 <sup>(a)</sup>  | 400 | 378 |
| Fannie Mae Pool #CB6297 4.00% 5/1/2053 <sup>(a)</sup>  | 30 | 28 |
| Fannie Mae Pool #FS4563 5.00% 5/1/2053 <sup>(a)</sup>  | 2853 | 2852 |
| Fannie Mae Pool #MA5009 5.00% 5/1/2053 <sup>(a)</sup>  | 2690 | 2681 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(a)</sup>  | 5717 | 5791 |
| Fannie Mae Pool #MA5011 6.00% 5/1/2053 <sup>(a)</sup>  | 6791 | 6980 |
| Fannie Mae Pool #BW9618 3.00% 6/1/2053 <sup>(a)</sup>  | 610 | 536 |
| Fannie Mae Pool #CB6471 4.50% 6/1/2053 <sup>(a)</sup>  | 2854 | 2777 |
| Fannie Mae Pool #FS5192 5.50% 6/1/2053 <sup>(a)</sup>  | 6504 | 6590 |
| Fannie Mae Pool #MA5039 5.50% 6/1/2053 <sup>(a)</sup>  | 6141 | 6218 |
| Fannie Mae Pool #BY3612 5.50% 6/1/2053 <sup>(a)</sup>  | 309 | 313 |
| Fannie Mae Pool #CB6485 6.00% 6/1/2053 <sup>(a)</sup>  | 3766 | 3862 |
| Fannie Mae Pool #CB6486 6.00% 6/1/2053 <sup>(a)</sup>  | 2335 | 2397 |
| Fannie Mae Pool #CB6465 6.00% 6/1/2053 <sup>(a)</sup>  | 1718 | 1773 |
| Fannie Mae Pool #FS7823 2.00% 7/1/2053 <sup>(a)</sup>  | 5972 | 4841 |
| Fannie Mae Pool #FS9167 2.50% 7/1/2053 <sup>(a)</sup>  | 3572 | 3016 |
| Fannie Mae Pool #FS6037 2.50% 7/1/2053 <sup>(a)</sup>  | 149 | 126 |
| Fannie Mae Pool #CB6626 4.00% 7/1/2053 <sup>(a)</sup>  | 75 | 71 |
| Fannie Mae Pool #MA5070 4.50% 7/1/2053 <sup>(a)</sup>  | 19449 | 18940 |
| Fannie Mae Pool #BY4459 5.00% 7/1/2053 <sup>(a)</sup>  | 587 | 586 |
| Fannie Mae Pool #BU4112 5.00% 7/1/2053 <sup>(a)</sup>  | 93 | 93 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(a)</sup>  | 3299 | 3334 |
| Fannie Mae Pool #CB6768 6.50% 7/1/2053 <sup>(a)</sup>  | 7539 | 7853 |

---

American Funds Insurance Series — Page 175 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #MA5107 5.50% 8/1/2053 <sup>(a)</sup>  | USD22,793 | $23030 |
| Fannie Mae Pool #FS6666 5.50% 8/1/2053 <sup>(a)</sup>  | 12466 | 12636 |
| Fannie Mae Pool #CB7108 5.50% 9/1/2053 <sup>(a)</sup>  | 5999 | 6082 |
| Fannie Mae Pool #CB7104 5.50% 9/1/2053 <sup>(a)</sup>  | 511 | 518 |
| Fannie Mae Pool #MA5139 6.00% 9/1/2053 <sup>(a)</sup>  | 4794 | 4914 |
| Fannie Mae Pool #FS5749 6.50% 9/1/2053 <sup>(a)</sup>  | 14542 | 15052 |
| Fannie Mae Pool #MA5177 4.00% 10/1/2053 <sup>(a)</sup>  | 7428 | 7010 |
| Fannie Mae Pool #CB7332 5.50% 10/1/2053 <sup>(a)</sup>  | 11610 | 11767 |
| Fannie Mae Pool #CB7331 5.50% 10/1/2053 <sup>(a)</sup>  | 6406 | 6496 |
| Fannie Mae Pool #CB7725 6.00% 10/1/2053 <sup>(a)</sup>  | 8558 | 8776 |
| Fannie Mae Pool #DA1557 6.00% 10/1/2053 <sup>(a)</sup>  | 148 | 152 |
| Fannie Mae Pool #FS7252 5.00% 11/1/2053 <sup>(a)</sup>  | 61582 | 61344 |
| Fannie Mae Pool #CB7426 6.50% 11/1/2053 <sup>(a)</sup>  | 2003 | 2081 |
| Fannie Mae Pool #FS6668 5.50% 12/1/2053 <sup>(a)</sup>  | 1876 | 1899 |
| Fannie Mae Pool #CB7626 6.50% 12/1/2053 <sup>(a)</sup>  | 742 | 772 |
| Fannie Mae Pool #FS6767 6.50% 1/1/2054 <sup>(a)</sup>  | 5088 | 5315 |
| Fannie Mae Pool #FS6873 6.50% 1/1/2054 <sup>(a)</sup>  | 1230 | 1273 |
| Fannie Mae Pool #FS9507 4.50% 2/1/2054 <sup>(a)</sup>  | 2906 | 2831 |
| Fannie Mae Pool #MA5271 5.50% 2/1/2054 <sup>(a)</sup>  | 2551 | 2579 |
| Fannie Mae Pool #FS6809 5.50% 2/1/2054 <sup>(a)</sup>  | 1728 | 1749 |
| Fannie Mae Pool #FS7031 6.00% 2/1/2054 <sup>(a)</sup>  | 6778 | 6993 |
| Fannie Mae Pool #FS7503 6.00% 2/1/2054 <sup>(a)</sup>  | 5094 | 5213 |
| Fannie Mae Pool #CB8422 6.00% 2/1/2054 <sup>(a)</sup>  | 1835 | 1880 |
| Fannie Mae Pool #DA7831 6.00% 2/1/2054 <sup>(a)</sup>  | 1755 | 1797 |
| Fannie Mae Pool #BY8083 4.00% 3/1/2054 <sup>(a)</sup>  | 25 | 23 |
| Fannie Mae Pool #FS9508 4.50% 3/1/2054 <sup>(a)</sup>  | 14117 | 13744 |
| Fannie Mae Pool #CB8151 5.50% 3/1/2054 <sup>(a)</sup>  | 18334 | 18527 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(a)</sup>  | 1570 | 1587 |
| Fannie Mae Pool #FS7507 6.00% 3/1/2054 <sup>(a)</sup>  | 4879 | 5033 |
| Fannie Mae Pool #CB8168 6.00% 3/1/2054 <sup>(a)</sup>  | 3321 | 3402 |
| Fannie Mae Pool #MA5295 6.00% 3/1/2054 <sup>(a)</sup>  | 1685 | 1726 |
| Fannie Mae Pool #FS7653 6.50% 3/1/2054 <sup>(a)</sup>  | 4170 | 4363 |
| Fannie Mae Pool #CB8328 5.50% 4/1/2054 <sup>(a)</sup>  | 4821 | 4901 |
| Fannie Mae Pool #DB1235 6.00% 4/1/2054 <sup>(a)</sup>  | 5161 | 5320 |
| Fannie Mae Pool #DB5160 5.50% 5/1/2054 <sup>(a)</sup>  | 585 | 593 |
| Fannie Mae Pool #MA5354 6.00% 5/1/2054 <sup>(a)</sup>  | 371 | 379 |
| Fannie Mae Pool #DB2495 6.00% 5/1/2054 <sup>(a)</sup>  | 216 | 221 |
| Fannie Mae Pool #MA5388 5.50% 6/1/2054 <sup>(a)</sup>  | 2647 | 2674 |
| Fannie Mae Pool #FS8131 5.50% 6/1/2054 <sup>(a)</sup>  | 1835 | 1864 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(a)</sup>  | 18247 | 18825 |
| Fannie Mae Pool #CB8755 6.00% 6/1/2054 <sup>(a)</sup>  | 1237 | 1271 |
| Fannie Mae Pool #DB5030 6.00% 6/1/2054 <sup>(a)</sup>  | 1188 | 1216 |
| Fannie Mae Pool #CB8725 6.50% 6/1/2054 <sup>(a)</sup>  | 10490 | 10864 |
| Fannie Mae Pool #CB8842 5.50% 7/1/2054 <sup>(a)</sup>  | 6876 | 6964 |
| Fannie Mae Pool #FS8467 5.50% 7/1/2054 <sup>(a)</sup>  | 1462 | 1487 |
| Fannie Mae Pool #MA5421 6.00% 7/1/2054 <sup>(a)</sup>  | 31948 | 32678 |
| Fannie Mae Pool #FS8318 6.00% 7/1/2054 <sup>(a)</sup>  | 4931 | 5088 |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(a)</sup>  | 2550 | 2624 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(a)</sup>  | 2313 | 2368 |
| Fannie Mae Pool #FS8591 6.00% 7/1/2054 <sup>(a)</sup>  | 2152 | 2221 |
| Fannie Mae Pool #DB7685 6.00% 7/1/2054 <sup>(a)</sup>  | 1269 | 1301 |
| Fannie Mae Pool #BU4707 6.00% 7/1/2054 <sup>(a)</sup>  | 1194 | 1222 |
| Fannie Mae Pool #DB5214 6.00% 7/1/2054 <sup>(a)</sup>  | 560 | 575 |
| Fannie Mae Pool #CB8872 6.50% 7/1/2054 <sup>(a)</sup>  | 16118 | 16803 |

---

American Funds Insurance Series — Page 176 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #CB8876 6.50% 7/1/2054 <sup>(a)</sup>  | USD4,648 | $4832 |
| Fannie Mae Pool #FS8317 6.50% 7/1/2054 <sup>(a)</sup>  | 2572 | 2680 |
| Fannie Mae Pool #DB7783 5.50% 8/1/2054 <sup>(a)</sup>  | 133 | 135 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(a)</sup>  | 43180 | 44167 |
| Fannie Mae Pool #DC0299 6.00% 8/1/2054 <sup>(a)</sup>  | 1344 | 1376 |
| Fannie Mae Pool #FS8795 6.00% 8/1/2054 <sup>(a)</sup>  | 1267 | 1296 |
| Fannie Mae Pool #DB7792 6.00% 8/1/2054 <sup>(a)</sup>  | 1009 | 1033 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(a)</sup>  | 223 | 229 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(a)</sup>  | 105 | 108 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(a)</sup>  | 92 | 94 |
| Fannie Mae Pool #FS8783 6.50% 8/1/2054 <sup>(a)</sup>  | 2247 | 2341 |
| Fannie Mae Pool #CB9071 6.50% 8/1/2054 <sup>(a)</sup>  | 1921 | 2001 |
| Fannie Mae Pool #MA5470 5.50% 9/1/2054 <sup>(a)</sup>  | 3540 | 3574 |
| Fannie Mae Pool #FS9001 5.50% 9/1/2054 <sup>(a)</sup>  | 1676 | 1705 |
| Fannie Mae Pool #FS9025 5.50% 9/1/2054 <sup>(a)</sup>  | 1240 | 1260 |
| Fannie Mae Pool #DC3262 6.00% 9/1/2054 <sup>(a)</sup>  | 387 | 396 |
| Fannie Mae Pool #DC3459 6.00% 9/1/2054 <sup>(a)</sup>  | 197 | 202 |
| Fannie Mae Pool #DC2270 6.00% 9/1/2054 <sup>(a)</sup>  | 82 | 84 |
| Fannie Mae Pool #MA5498 6.00% 10/1/2054 <sup>(a)</sup>  | 855 | 874 |
| Fannie Mae Pool #MA5530 5.00% 11/1/2054 <sup>(a)</sup>  | 1841 | 1827 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(a)</sup>  | 4424 | 4465 |
| Fannie Mae Pool #MA5532 6.00% 11/1/2054 <sup>(a)</sup>  | 3368 | 3445 |
| Fannie Mae Pool #DC7042 4.50% 12/1/2054 <sup>(a)</sup>  | 264 | 257 |
| Fannie Mae Pool #CB9770 4.50% 12/1/2054 <sup>(a)</sup>  | 89 | 86 |
| Fannie Mae Pool #CB9768 4.50% 12/1/2054 <sup>(a)</sup>  | 32 | 31 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(a)</sup>  | 140 | 139 |
| Fannie Mae Pool #CB9675 6.00% 12/1/2054 <sup>(a)</sup>  | 3974 | 4094 |
| Fannie Mae Pool #BU5233 6.00% 12/1/2054 <sup>(a)</sup>  | 1414 | 1452 |
| Fannie Mae Pool #DC7035 6.00% 12/1/2054 <sup>(a)</sup>  | 923 | 944 |
| Fannie Mae Pool #DC7823 6.00% 12/1/2054 <sup>(a)</sup>  | 354 | 362 |
| Fannie Mae Pool #BU5358 6.00% 12/1/2054 <sup>(a)</sup>  | 288 | 295 |
| Fannie Mae Pool #MA5586 5.50% 1/1/2055 <sup>(a)</sup>  | 1865 | 1884 |
| Fannie Mae Pool #CB9821 6.00% 1/1/2055 <sup>(a)</sup>  | 1558 | 1598 |
| Fannie Mae Pool #DD0835 6.00% 1/1/2055 <sup>(a)</sup>  | 855 | 875 |
| Fannie Mae Pool #CB9840 6.50% 1/1/2055 <sup>(a)</sup>  | 1851 | 1916 |
| Fannie Mae Pool #CB9836 6.50% 1/1/2055 <sup>(a)</sup>  | 1293 | 1346 |
| Fannie Mae Pool #MA5612 4.50% 2/1/2055 <sup>(a)</sup>  | 2323 | 2255 |
| Fannie Mae Pool #FA0608 5.50% 2/1/2055 <sup>(a)</sup>  | 2871 | 2897 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(a)</sup>  | 13343 | 13646 |
| Fannie Mae Pool #MA5646 5.50% 3/1/2055 <sup>(a)</sup>  | 484 | 489 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(a)</sup>  | 5495 | 5620 |
| Fannie Mae Pool #MA5670 4.00% 4/1/2055 <sup>(a)</sup>  | 6866 | 6475 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(a)</sup>  | 5224 | 5340 |
| Fannie Mae Pool #FA1162 6.00% 4/1/2055 <sup>(a)</sup>  | 303 | 310 |
| Fannie Mae Pool #DD4459 6.00% 4/1/2055 <sup>(a)</sup>  | 291 | 298 |
| Fannie Mae Pool #MA5699 5.00% 5/1/2055 <sup>(a)</sup>  | 278 | 276 |
| Fannie Mae Pool #MA5700 5.50% 5/1/2055 <sup>(a)</sup>  | 19628 | 19803 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(a)</sup>  | 4962 | 5072 |
| Fannie Mae Pool #MA5735 5.50% 6/1/2055 <sup>(a)</sup>  | 9837 | 9924 |
| Fannie Mae Pool #DD7303 5.50% 6/1/2055 <sup>(a)</sup>  | 494 | 499 |
| Fannie Mae Pool #MA5761 6.00% 7/1/2055 <sup>(a)</sup>  | 6011 | 6145 |
| Fannie Mae Pool #DE2192 6.00% 7/1/2055 <sup>(a)</sup>  | 4708 | 4813 |
| Fannie Mae Pool #MA5792 5.50% 8/1/2055 <sup>(a)</sup>  | 4758 | 4800 |
| Fannie Mae Pool #CC0859 5.50% 8/1/2055 <sup>(a)</sup>  | 4004 | 4069 |

---

American Funds Insurance Series — Page 177 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #CC0879 6.00% 8/1/2055 <sup>(a)</sup>  | USD2,174 | $2242 |
| Fannie Mae Pool #MA5793 6.00% 8/1/2055 <sup>(a)</sup>  | 280 | 287 |
| Fannie Mae Pool #BF0145 3.50% 3/1/2057 <sup>(a)</sup>  | 9473 | 8614 |
| Fannie Mae Pool #BF0264 3.50% 5/1/2058 <sup>(a)</sup>  | 7013 | 6368 |
| Fannie Mae Pool #BF0332 3.00% 1/1/2059 <sup>(a)</sup>  | 14831 | 12982 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060 <sup>(a)</sup>  | 17755 | 15541 |
| Fannie Mae Pool #BF0585 4.50% 12/1/2061 <sup>(a)</sup>  | 967 | 939 |
| Fannie Mae Pool #BF0784 3.50% 12/1/2063 <sup>(a)</sup>  | 4617 | 4152 |
| Fannie Mae, Series 2001-50, Class BA, 7.00% 10/25/2041 <sup>(a)</sup>  | 3 | 3 |
| Fannie Mae, Series 2002-W3, Class A5, 7.50% 11/25/2041 <sup>(a)</sup>  | 14 | 14 |
| Fannie Mae, Series 2002-W1, Class 2A, 4.409% 2/25/2042 <sup>(a)(b)</sup>  | 15 | 15 |
| Freddie Mac Pool #ZS8507 3.00% 11/1/2028 <sup>(a)</sup>  | 42 | 42 |
| Freddie Mac Pool #ZK7590 3.00% 1/1/2029 <sup>(a)</sup>  | 759 | 750 |
| Freddie Mac Pool #A15120 5.50% 10/1/2033 <sup>(a)</sup>  | 36 | 37 |
| Freddie Mac Pool #QN1073 3.00% 12/1/2034 <sup>(a)</sup>  | 30 | 29 |
| Freddie Mac Pool #SB0649 2.50% 4/1/2037 <sup>(a)</sup>  | 2418 | 2275 |
| Freddie Mac Pool #G05196 5.50% 10/1/2038 <sup>(a)</sup>  | 36 | 38 |
| Freddie Mac Pool #G05267 5.50% 12/1/2038 <sup>(a)</sup>  | 27 | 28 |
| Freddie Mac Pool #G06020 5.50% 12/1/2039 <sup>(a)</sup>  | 51 | 53 |
| Freddie Mac Pool #G05860 5.50% 2/1/2040 <sup>(a)</sup>  | 175 | 181 |
| Freddie Mac Pool #RB5071 2.00% 9/1/2040 <sup>(a)</sup>  | 1765 | 1535 |
| Freddie Mac Pool #A93948 4.50% 9/1/2040 <sup>(a)</sup>  | 129 | 129 |
| Freddie Mac Pool #SC0149 2.00% 3/1/2041 <sup>(a)</sup>  | 5244 | 4534 |
| Freddie Mac Pool #G06868 4.50% 4/1/2041 <sup>(a)</sup>  | 130 | 131 |
| Freddie Mac Pool #RB0544 2.00% 6/1/2041 <sup>(a)</sup>  | 9093 | 7922 |
| Freddie Mac Pool #G06841 5.50% 6/1/2041 <sup>(a)</sup>  | 294 | 306 |
| Freddie Mac Pool #Z40130 3.00% 1/1/2046 <sup>(a)</sup>  | 15043 | 13873 |
| Freddie Mac Pool #RA6996 2.50% 3/1/2047 <sup>(a)</sup>  | 54 | 46 |
| Freddie Mac Pool #ZT2100 3.00% 4/1/2047 <sup>(a)</sup>  | 88 | 79 |
| Freddie Mac Pool #SD0470 4.00% 11/1/2047 <sup>(a)</sup>  | 783 | 751 |
| Freddie Mac Pool #G08789 4.00% 11/1/2047 <sup>(a)</sup>  | 477 | 461 |
| Freddie Mac Pool #G61733 3.00% 12/1/2047 <sup>(a)</sup>  | 3926 | 3567 |
| Freddie Mac Pool #G67709 3.50% 3/1/2048 <sup>(a)</sup>  | 10127 | 9472 |
| Freddie Mac Pool #ZT2265 4.00% 8/1/2048 <sup>(a)</sup>  | 741 | 712 |
| Freddie Mac Pool #G61628 3.50% 9/1/2048 <sup>(a)</sup>  | 231 | 216 |
| Freddie Mac Pool #Q58494 4.00% 9/1/2048 <sup>(a)</sup>  | 939 | 904 |
| Freddie Mac Pool #ZN4842 3.50% 4/1/2049 <sup>(a)</sup>  | 494 | 458 |
| Freddie Mac Pool #RA1369 3.50% 9/1/2049 <sup>(a)</sup>  | 1518 | 1408 |
| Freddie Mac Pool #SD7508 3.50% 10/1/2049 <sup>(a)</sup>  | 8222 | 7690 |
| Freddie Mac Pool #QA4673 3.00% 11/1/2049 <sup>(a)</sup>  | 22367 | 20155 |
| Freddie Mac Pool #QB1368 2.50% 7/1/2050 <sup>(a)</sup>  | 4511 | 3887 |
| Freddie Mac Pool #RA3055 2.50% 7/1/2050 <sup>(a)</sup>  | 27 | 22 |
| Freddie Mac Pool #RA3384 3.00% 8/1/2050 <sup>(a)</sup>  | 294 | 261 |
| Freddie Mac Pool #RA3515 2.50% 9/1/2050 <sup>(a)</sup>  | 1802 | 1523 |
| Freddie Mac Pool #RA3506 3.00% 9/1/2050 <sup>(a)</sup>  | 1698 | 1506 |
| Freddie Mac Pool #SD7525 2.50% 10/1/2050 <sup>(a)</sup>  | 5349 | 4615 |
| Freddie Mac Pool #QB4847 2.50% 10/1/2050 <sup>(a)</sup>  | 1186 | 1002 |
| Freddie Mac Pool #QB5799 2.50% 11/1/2050 <sup>(a)</sup>  | 60 | 51 |
| Freddie Mac Pool #QB5838 2.50% 11/1/2050 <sup>(a)</sup>  | 24 | 21 |
| Freddie Mac Pool #RA4206 2.50% 12/1/2050 <sup>(a)</sup>  | 1918 | 1620 |
| Freddie Mac Pool #SD0776 2.00% 2/1/2051 <sup>(a)</sup>  | 1765 | 1425 |
| Freddie Mac Pool #QB8605 2.00% 2/1/2051 <sup>(a)</sup>  | 413 | 338 |
| Freddie Mac Pool #SD8128 2.00% 2/1/2051 <sup>(a)</sup>  | 96 | 78 |
| Freddie Mac Pool #SD8134 2.00% 3/1/2051 <sup>(a)</sup>  | 61678 | 50158 |

---

American Funds Insurance Series — Page 178 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SD0537 2.00% 3/1/2051 <sup>(a)</sup>  | USD1,741 | $1414 |
| Freddie Mac Pool #QB9901 2.50% 3/1/2051 <sup>(a)</sup>  | 2283 | 1926 |
| Freddie Mac Pool #SD0934 2.00% 4/1/2051 <sup>(a)</sup>  | 2172 | 1764 |
| Freddie Mac Pool #QC0416 2.50% 4/1/2051 <sup>(a)</sup>  | 221 | 186 |
| Freddie Mac Pool #SI2108 2.50% 4/1/2051 <sup>(a)</sup>  | 157 | 133 |
| Freddie Mac Pool #QC2062 2.00% 5/1/2051 <sup>(a)</sup>  | 1813 | 1463 |
| Freddie Mac Pool #RA5204 2.00% 5/1/2051 <sup>(a)</sup>  | 1779 | 1436 |
| Freddie Mac Pool #RA5155 2.00% 5/1/2051 <sup>(a)</sup>  | 1592 | 1285 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051 <sup>(a)</sup>  | 1242 | 1016 |
| Freddie Mac Pool #RA5267 3.00% 5/1/2051 <sup>(a)</sup>  | 1065 | 944 |
| Freddie Mac Pool #QC3423 2.00% 6/1/2051 <sup>(a)</sup>  | 1896 | 1530 |
| Freddie Mac Pool #QC2817 2.50% 6/1/2051 <sup>(a)</sup>  | 2261 | 1939 |
| Freddie Mac Pool #QC3428 2.50% 6/1/2051 <sup>(a)</sup>  | 741 | 625 |
| Freddie Mac Pool #SD3095 2.50% 7/1/2051 <sup>(a)</sup>  | 1932 | 1631 |
| Freddie Mac Pool #SD0926 2.50% 7/1/2051 <sup>(a)</sup>  | 545 | 462 |
| Freddie Mac Pool #SD7544 3.00% 7/1/2051 <sup>(a)</sup>  | 5615 | 5044 |
| Freddie Mac Pool #SD8160 2.00% 8/1/2051 <sup>(a)</sup>  | 765 | 621 |
| Freddie Mac Pool #RA5836 2.50% 9/1/2051 <sup>(a)</sup>  | 9734 | 8323 |
| Freddie Mac Pool #SD2963 2.50% 9/1/2051 <sup>(a)</sup>  | 7486 | 6315 |
| Freddie Mac Pool #SD5485 2.50% 9/1/2051 <sup>(a)</sup>  | 1803 | 1525 |
| Freddie Mac Pool #RA5759 2.50% 9/1/2051 <sup>(a)</sup>  | 878 | 740 |
| Freddie Mac Pool #RA5767 2.50% 9/1/2051 <sup>(a)</sup>  | 451 | 381 |
| Freddie Mac Pool #QC6761 2.50% 9/1/2051 <sup>(a)</sup>  | 50 | 42 |
| Freddie Mac Pool #RA5901 3.00% 9/1/2051 <sup>(a)</sup>  | 990 | 878 |
| Freddie Mac Pool #RA5841 3.00% 9/1/2051 <sup>(a)</sup>  | 183 | 161 |
| Freddie Mac Pool #QD0086 2.00% 10/1/2051 <sup>(a)</sup>  | 526 | 424 |
| Freddie Mac Pool #SD1345 2.50% 10/1/2051 <sup>(a)</sup>  | 1893 | 1599 |
| Freddie Mac Pool #SD2880 3.00% 10/1/2051 <sup>(a)</sup>  | 6205 | 5501 |
| Freddie Mac Pool #SD0734 3.00% 10/1/2051 <sup>(a)</sup>  | 1770 | 1581 |
| Freddie Mac Pool #QD0877 2.00% 11/1/2051 <sup>(a)</sup>  | 7915 | 6387 |
| Freddie Mac Pool #QD1841 2.00% 11/1/2051 <sup>(a)</sup>  | 2272 | 1839 |
| Freddie Mac Pool #QD0910 2.00% 11/1/2051 <sup>(a)</sup>  | 2141 | 1728 |
| Freddie Mac Pool #SD1385 2.50% 11/1/2051 <sup>(a)</sup>  | 1357 | 1166 |
| Freddie Mac Pool #RA6347 3.00% 11/1/2051 <sup>(a)</sup>  | 1110 | 985 |
| Freddie Mac Pool #QD3473 2.00% 12/1/2051 <sup>(a)</sup>  | 1735 | 1400 |
| Freddie Mac Pool #SL1735 2.00% 12/1/2051 <sup>(a)</sup>  | 1661 | 1347 |
| Freddie Mac Pool #SD8182 2.00% 12/1/2051 <sup>(a)</sup>  | 796 | 646 |
| Freddie Mac Pool #SD3729 2.50% 12/1/2051 <sup>(a)</sup>  | 1086 | 917 |
| Freddie Mac Pool #QD3310 3.00% 12/1/2051 <sup>(a)</sup>  | 18 | 16 |
| Freddie Mac Pool #QD5035 2.00% 1/1/2052 <sup>(a)</sup>  | 2982 | 2406 |
| Freddie Mac Pool #QD4465 2.00% 1/1/2052 <sup>(a)</sup>  | 1874 | 1512 |
| Freddie Mac Pool #SD2629 2.50% 1/1/2052 <sup>(a)</sup>  | 4046 | 3419 |
| Freddie Mac Pool #SD0855 2.50% 1/1/2052 <sup>(a)</sup>  | 2591 | 2198 |
| Freddie Mac Pool #RA6634 2.50% 1/1/2052 <sup>(a)</sup>  | 484 | 409 |
| Freddie Mac Pool #QD5254 2.50% 1/1/2052 <sup>(a)</sup>  | 474 | 402 |
| Freddie Mac Pool #SD0813 3.00% 1/1/2052 <sup>(a)</sup>  | 3844 | 3433 |
| Freddie Mac Pool #RA6114 2.00% 2/1/2052 <sup>(a)</sup>  | 1616 | 1308 |
| Freddie Mac Pool #SD8193 2.00% 2/1/2052 <sup>(a)</sup>  | 813 | 659 |
| Freddie Mac Pool #QD7187 2.50% 2/1/2052 <sup>(a)</sup>  | 969 | 819 |
| Freddie Mac Pool #SI2095 2.50% 2/1/2052 <sup>(a)</sup>  | 394 | 333 |
| Freddie Mac Pool #SD8194 2.50% 2/1/2052 <sup>(a)</sup>  | 226 | 191 |
| Freddie Mac Pool #QD7360 2.50% 2/1/2052 <sup>(a)</sup>  | 167 | 141 |
| Freddie Mac Pool #QD7312 2.50% 2/1/2052 <sup>(a)</sup>  | 61 | 51 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052 <sup>(a)</sup>  | 593 | 546 |

---

American Funds Insurance Series — Page 179 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SD5343 2.00% 3/1/2052 <sup>(a)</sup>  | USD2,249 | $1822 |
| Freddie Mac Pool #SD8199 2.00% 3/1/2052 <sup>(a)</sup>  | 1779 | 1442 |
| Freddie Mac Pool #QD8010 2.00% 3/1/2052 <sup>(a)</sup>  | 907 | 733 |
| Freddie Mac Pool #QD8103 2.00% 3/1/2052 <sup>(a)</sup>  | 840 | 680 |
| Freddie Mac Pool #RA6973 2.00% 3/1/2052 <sup>(a)</sup>  | 485 | 393 |
| Freddie Mac Pool #QD8820 2.00% 3/1/2052 <sup>(a)</sup>  | 169 | 137 |
| Freddie Mac Pool #SD8200 2.50% 3/1/2052 <sup>(a)</sup>  | 791 | 670 |
| Freddie Mac Pool #QE0888 2.50% 3/1/2052 <sup>(a)</sup>  | 723 | 613 |
| Freddie Mac Pool #QE0957 2.50% 3/1/2052 <sup>(a)</sup>  | 69 | 59 |
| Freddie Mac Pool #SD8204 2.00% 4/1/2052 <sup>(a)</sup>  | 1243 | 1005 |
| Freddie Mac Pool #SD3478 2.50% 4/1/2052 <sup>(a)</sup>  | 1676 | 1414 |
| Freddie Mac Pool #QE0521 2.50% 4/1/2052 <sup>(a)</sup>  | 552 | 466 |
| Freddie Mac Pool #QE1102 2.50% 4/1/2052 <sup>(a)</sup>  | 218 | 184 |
| Freddie Mac Pool #QE0322 2.50% 4/1/2052 <sup>(a)</sup>  | 122 | 103 |
| Freddie Mac Pool #SD1658 2.50% 4/1/2052 <sup>(a)</sup>  | 118 | 100 |
| Freddie Mac Pool #SD8212 2.50% 5/1/2052 <sup>(a)</sup>  | 1652 | 1395 |
| Freddie Mac Pool #RA7139 2.50% 5/1/2052 <sup>(a)</sup>  | 366 | 309 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(a)</sup>  | 41545 | 36600 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052 <sup>(a)</sup>  | 3554 | 3127 |
| Freddie Mac Pool #SD6203 3.00% 6/1/2052 <sup>(a)</sup>  | 47 | 41 |
| Freddie Mac Pool #QE4084 6.50% 6/1/2052 <sup>(a)</sup>  | 129 | 135 |
| Freddie Mac Pool #SD3416 2.50% 7/1/2052 <sup>(a)</sup>  | 869 | 733 |
| Freddie Mac Pool #SD3632 2.50% 7/1/2052 <sup>(a)</sup>  | 468 | 395 |
| Freddie Mac Pool #SD2600 2.50% 7/1/2052 <sup>(a)</sup>  | 188 | 159 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(a)</sup>  | 4231 | 3721 |
| Freddie Mac Pool #QE5698 5.00% 7/1/2052 <sup>(a)</sup>  | 2034 | 2029 |
| Freddie Mac Pool #SD1406 2.00% 8/1/2052 <sup>(a)</sup>  | 88 | 71 |
| Freddie Mac Pool #SD1408 2.50% 8/1/2052 <sup>(a)</sup>  | 188 | 159 |
| Freddie Mac Pool #SD7556 3.00% 8/1/2052 <sup>(a)</sup>  | 547 | 486 |
| Freddie Mac Pool #QE8579 4.50% 8/1/2052 <sup>(a)</sup>  | 71 | 70 |
| Freddie Mac Pool #SD8242 3.00% 9/1/2052 <sup>(a)</sup>  | 3938 | 3465 |
| Freddie Mac Pool #QF0212 4.50% 9/1/2052 <sup>(a)</sup>  | 318 | 310 |
| Freddie Mac Pool #QF1205 4.50% 9/1/2052 <sup>(a)</sup>  | 284 | 277 |
| Freddie Mac Pool #QE9497 4.50% 9/1/2052 <sup>(a)</sup>  | 79 | 77 |
| Freddie Mac Pool #SD1608 4.50% 9/1/2052 <sup>(a)</sup>  | 47 | 46 |
| Freddie Mac Pool #SD2465 4.50% 10/1/2052 <sup>(a)</sup>  | 32 | 31 |
| Freddie Mac Pool #RA8059 5.50% 10/1/2052 <sup>(a)</sup>  | 5681 | 5775 |
| Freddie Mac Pool #SD1896 4.00% 11/1/2052 <sup>(a)</sup>  | 15655 | 15013 |
| Freddie Mac Pool #SD1894 4.00% 11/1/2052 <sup>(a)</sup>  | 5422 | 5219 |
| Freddie Mac Pool #SD8266 4.50% 11/1/2052 <sup>(a)</sup>  | 15930 | 15530 |
| Freddie Mac Pool #QF2692 5.00% 11/1/2052 <sup>(a)</sup>  | 3466 | 3458 |
| Freddie Mac Pool #QF2926 5.00% 11/1/2052 <sup>(a)</sup>  | 3212 | 3203 |
| Freddie Mac Pool #SD2948 5.50% 11/1/2052 <sup>(a)</sup>  | 1996 | 2022 |
| Freddie Mac Pool #QF2862 6.50% 11/1/2052 <sup>(a)</sup>  | 61 | 63 |
| Freddie Mac Pool #SD8280 6.50% 11/1/2052 <sup>(a)</sup>  | 38 | 40 |
| Freddie Mac Pool #SD2602 3.00% 12/1/2052 <sup>(a)</sup>  | 1019 | 897 |
| Freddie Mac Pool #SD2065 4.00% 12/1/2052 <sup>(a)</sup>  | 987 | 932 |
| Freddie Mac Pool #RA8200 4.00% 12/1/2052 <sup>(a)</sup>  | 511 | 482 |
| Freddie Mac Pool #RA8309 6.00% 12/1/2052 <sup>(a)</sup>  | 1133 | 1169 |
| Freddie Mac Pool #SD8287 4.50% 1/1/2053 <sup>(a)</sup>  | 14924 | 14547 |
| Freddie Mac Pool #SD8288 5.00% 1/1/2053 <sup>(a)</sup>  | 188 | 188 |
| Freddie Mac Pool #RA8423 6.00% 1/1/2053 <sup>(a)</sup>  | 2920 | 3013 |
| Freddie Mac Pool #SD8299 5.00% 2/1/2053 <sup>(a)</sup>  | 2151 | 2144 |
| Freddie Mac Pool #SD2462 5.50% 2/1/2053 <sup>(a)</sup>  | 40526 | 41131 |

---

American Funds Insurance Series — Page 180 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #RA8544 5.50% 2/1/2053 <sup>(a)</sup>  | USD22,613 | $22939 |
| Freddie Mac Pool #QF8083 6.00% 2/1/2053 <sup>(a)</sup>  | 12772 | 13129 |
| Freddie Mac Pool #QF9463 4.00% 3/1/2053 <sup>(a)</sup>  | 2588 | 2442 |
| Freddie Mac Pool #SD2610 4.00% 3/1/2053 <sup>(a)</sup>  | 1651 | 1558 |
| Freddie Mac Pool #SD8305 4.00% 3/1/2053 <sup>(a)</sup>  | 74 | 70 |
| Freddie Mac Pool #RA8720 4.00% 4/1/2053 <sup>(a)</sup>  | 2597 | 2453 |
| Freddie Mac Pool #SD8314 4.50% 4/1/2053 <sup>(a)</sup>  | 190 | 186 |
| Freddie Mac Pool #SD2716 5.00% 4/1/2053 <sup>(a)</sup>  | 4370 | 4370 |
| Freddie Mac Pool #QG1268 5.00% 4/1/2053 <sup>(a)</sup>  | 580 | 578 |
| Freddie Mac Pool #SD8315 5.00% 4/1/2053 <sup>(a)</sup>  | 529 | 526 |
| Freddie Mac Pool #QG2977 4.00% 5/1/2053 <sup>(a)</sup>  | 192 | 182 |
| Freddie Mac Pool #RA8647 4.50% 5/1/2053 <sup>(a)</sup>  | 32 | 31 |
| Freddie Mac Pool #SD8323 5.00% 5/1/2053 <sup>(a)</sup>  | 8067 | 8020 |
| Freddie Mac Pool #SD8324 5.50% 5/1/2053 <sup>(a)</sup>  | 7861 | 7963 |
| Freddie Mac Pool #QG3365 5.50% 5/1/2053 <sup>(a)</sup>  | 3325 | 3378 |
| Freddie Mac Pool #SD3369 5.50% 5/1/2053 <sup>(a)</sup>  | 2301 | 2331 |
| Freddie Mac Pool #SD2861 6.00% 5/1/2053 <sup>(a)</sup>  | 12912 | 13264 |
| Freddie Mac Pool #QG5002 4.00% 6/1/2053 <sup>(a)</sup>  | 575 | 543 |
| Freddie Mac Pool #SD8329 5.00% 6/1/2053 <sup>(a)</sup>  | 5398 | 5380 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(a)</sup>  | 18821 | 19050 |
| Freddie Mac Pool #SD3177 6.00% 6/1/2053 <sup>(a)</sup>  | 5986 | 6145 |
| Freddie Mac Pool #SD3083 6.00% 6/1/2053 <sup>(a)</sup>  | 2846 | 2919 |
| Freddie Mac Pool #RA9294 6.50% 6/1/2053 <sup>(a)</sup>  | 637 | 664 |
| Freddie Mac Pool #RA9292 6.50% 6/1/2053 <sup>(a)</sup>  | 566 | 590 |
| Freddie Mac Pool #RA9289 6.50% 6/1/2053 <sup>(a)</sup>  | 531 | 558 |
| Freddie Mac Pool #RA9288 6.50% 6/1/2053 <sup>(a)</sup>  | 521 | 548 |
| Freddie Mac Pool #RA9287 6.50% 6/1/2053 <sup>(a)</sup>  | 366 | 386 |
| Freddie Mac Pool #RA9290 6.50% 6/1/2053 <sup>(a)</sup>  | 284 | 298 |
| Freddie Mac Pool #RA9291 6.50% 6/1/2053 <sup>(a)</sup>  | 177 | 184 |
| Freddie Mac Pool #RA9295 6.50% 6/1/2053 <sup>(a)</sup>  | 156 | 166 |
| Freddie Mac Pool #QG7153 4.00% 7/1/2053 <sup>(a)</sup>  | 5127 | 4843 |
| Freddie Mac Pool #QG6067 4.00% 7/1/2053 <sup>(a)</sup>  | 540 | 509 |
| Freddie Mac Pool #QG7958 4.00% 7/1/2053 <sup>(a)</sup>  | 65 | 62 |
| Freddie Mac Pool #SD8341 5.00% 7/1/2053 <sup>(a)</sup>  | 249 | 248 |
| Freddie Mac Pool #SD3386 5.50% 7/1/2053 <sup>(a)</sup>  | 7271 | 7372 |
| Freddie Mac Pool #QG7411 5.50% 7/1/2053 <sup>(a)</sup>  | 582 | 589 |
| Freddie Mac Pool #RA9474 6.00% 7/1/2053 <sup>(a)</sup>  | 8005 | 8245 |
| Freddie Mac Pool #SD3434 6.00% 7/1/2053 <sup>(a)</sup>  | 2827 | 2902 |
| Freddie Mac Pool #QG8958 4.00% 8/1/2053 <sup>(a)</sup>  | 474 | 447 |
| Freddie Mac Pool #QG9629 4.00% 8/1/2053 <sup>(a)</sup>  | 395 | 372 |
| Freddie Mac Pool #QG9084 5.50% 8/1/2053 <sup>(a)</sup>  | 2303 | 2333 |
| Freddie Mac Pool #QG9008 5.50% 8/1/2053 <sup>(a)</sup>  | 2146 | 2175 |
| Freddie Mac Pool #QG9628 5.50% 8/1/2053 <sup>(a)</sup>  | 1895 | 1919 |
| Freddie Mac Pool #QG9141 5.50% 8/1/2053 <sup>(a)</sup>  | 1336 | 1355 |
| Freddie Mac Pool #SD3639 6.00% 8/1/2053 <sup>(a)</sup>  | 4250 | 4368 |
| Freddie Mac Pool #QH0851 6.00% 9/1/2053 <sup>(a)</sup>  | 13371 | 13704 |
| Freddie Mac Pool #QH1059 6.00% 9/1/2053 <sup>(a)</sup>  | 10636 | 10924 |
| Freddie Mac Pool #QH1296 6.00% 9/1/2053 <sup>(a)</sup>  | 6203 | 6364 |
| Freddie Mac Pool #SD3916 6.00% 9/1/2053 <sup>(a)</sup>  | 1392 | 1432 |
| Freddie Mac Pool #RA9854 6.00% 9/1/2053 <sup>(a)</sup>  | 1041 | 1076 |
| Freddie Mac Pool #SD3825 6.50% 9/1/2053 <sup>(a)</sup>  | 51001 | 52761 |
| Freddie Mac Pool #SD4997 5.00% 10/1/2053 <sup>(a)</sup>  | 787 | 784 |
| Freddie Mac Pool #SD8368 6.00% 10/1/2053 <sup>(a)</sup>  | 13927 | 14271 |
| Freddie Mac Pool #SD8369 6.50% 10/1/2053 <sup>(a)</sup>  | 3452 | 3574 |

---

American Funds Insurance Series — Page 181 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(a)</sup>  | USD587 | $585 |
| Freddie Mac Pool #SD4571 5.50% 11/1/2053 <sup>(a)</sup>  | 17640 | 17881 |
| Freddie Mac Pool #SD8373 6.00% 11/1/2053 <sup>(a)</sup>  | 2114 | 2168 |
| Freddie Mac Pool #SD4318 6.50% 11/1/2053 <sup>(a)</sup>  | 12486 | 12994 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(a)</sup>  | 1676 | 1741 |
| Freddie Mac Pool #RJ0440 6.00% 12/1/2053 <sup>(a)</sup>  | 5233 | 5372 |
| Freddie Mac Pool #QH5936 6.00% 12/1/2053 <sup>(a)</sup>  | 2797 | 2886 |
| Freddie Mac Pool #SD4693 6.50% 1/1/2054 <sup>(a)</sup>  | 617 | 640 |
| Freddie Mac Pool #SD5910 4.00% 2/1/2054 <sup>(a)</sup>  | 186 | 176 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(a)</sup>  | 753 | 761 |
| Freddie Mac Pool #SD4975 6.00% 2/1/2054 <sup>(a)</sup>  | 10377 | 10625 |
| Freddie Mac Pool #QI0006 6.00% 2/1/2054 <sup>(a)</sup>  | 4612 | 4725 |
| Freddie Mac Pool #SD4897 6.00% 2/1/2054 <sup>(a)</sup>  | 3516 | 3608 |
| Freddie Mac Pool #SD8402 6.00% 2/1/2054 <sup>(a)</sup>  | 186 | 190 |
| Freddie Mac Pool #SD4966 6.50% 2/1/2054 <sup>(a)</sup>  | 4540 | 4730 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(a)</sup>  | 400 | 404 |
| Freddie Mac Pool #RJ1216 5.50% 4/1/2054 <sup>(a)</sup>  | 2493 | 2535 |
| Freddie Mac Pool #RJ1215 5.50% 4/1/2054 <sup>(a)</sup>  | 1803 | 1822 |
| Freddie Mac Pool #RJ1435 6.00% 4/1/2054 <sup>(a)</sup>  | 7965 | 8196 |
| Freddie Mac Pool #SD5303 6.00% 4/1/2054 <sup>(a)</sup>  | 5122 | 5276 |
| Freddie Mac Pool #QI2895 6.00% 4/1/2054 <sup>(a)</sup>  | 4192 | 4319 |
| Freddie Mac Pool #RJ1346 6.00% 4/1/2054 <sup>(a)</sup>  | 1947 | 2009 |
| Freddie Mac Pool #SD8421 6.00% 4/1/2054 <sup>(a)</sup>  | 160 | 164 |
| Freddie Mac Pool #SD5316 6.00% 4/1/2054 <sup>(a)</sup>  | 22 | 23 |
| Freddie Mac Pool #SD5221 6.50% 4/1/2054 <sup>(a)</sup>  | 6081 | 6362 |
| Freddie Mac Pool #SD8430 5.00% 5/1/2054 <sup>(a)</sup>  | 1937 | 1925 |
| Freddie Mac Pool #RJ1417 5.50% 5/1/2054 <sup>(a)</sup>  | 36801 | 37408 |
| Freddie Mac Pool #RJ1512 5.50% 5/1/2054 <sup>(a)</sup>  | 4604 | 4686 |
| Freddie Mac Pool #SD8432 6.00% 5/1/2054 <sup>(a)</sup>  | 2964 | 3033 |
| Freddie Mac Pool #RJ1447 6.50% 5/1/2054 <sup>(a)</sup>  | 5928 | 6174 |
| Freddie Mac Pool #RJ1857 5.50% 6/1/2054 <sup>(a)</sup>  | 2710 | 2751 |
| Freddie Mac Pool #RJ1768 5.50% 6/1/2054 <sup>(a)</sup>  | 952 | 968 |
| Freddie Mac Pool #RJ1859 6.00% 6/1/2054 <sup>(a)</sup>  | 24606 | 25269 |
| Freddie Mac Pool #SD8439 6.00% 6/1/2054 <sup>(a)</sup>  | 116 | 118 |
| Freddie Mac Pool #SD5701 6.50% 6/1/2054 <sup>(a)</sup>  | 5707 | 5947 |
| Freddie Mac Pool #SD8446 5.50% 7/1/2054 <sup>(a)</sup>  | 2408 | 2431 |
| Freddie Mac Pool #RJ1963 5.50% 7/1/2054 <sup>(a)</sup>  | 1794 | 1815 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(a)</sup>  | 22122 | 22633 |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(a)</sup>  | 12848 | 13314 |
| Freddie Mac Pool #SD5949 6.00% 7/1/2054 <sup>(a)</sup>  | 2986 | 3059 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(a)</sup>  | 2673 | 2744 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(a)</sup>  | 229 | 236 |
| Freddie Mac Pool #SD8448 6.50% 7/1/2054 <sup>(a)</sup>  | 4580 | 4736 |
| Freddie Mac Pool #QI9151 6.50% 7/1/2054 <sup>(a)</sup>  | 2465 | 2569 |
| Freddie Mac Pool #RJ2193 5.00% 8/1/2054 <sup>(a)</sup>  | 2041 | 2034 |
| Freddie Mac Pool #RJ2241 5.00% 8/1/2054 <sup>(a)</sup>  | 1396 | 1390 |
| Freddie Mac Pool #RJ2195 5.00% 8/1/2054 <sup>(a)</sup>  | 1307 | 1299 |
| Freddie Mac Pool #SD8453 5.50% 8/1/2054 <sup>(a)</sup>  | 3 | 3 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(a)</sup>  | 9111 | 9319 |
| Freddie Mac Pool #RJ2210 6.00% 8/1/2054 <sup>(a)</sup>  | 4924 | 5049 |
| Freddie Mac Pool #RJ2216 6.00% 8/1/2054 <sup>(a)</sup>  | 2354 | 2412 |
| Freddie Mac Pool #QJ3296 6.00% 8/1/2054 <sup>(a)</sup>  | 555 | 568 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(a)</sup>  | 135 | 139 |
| Freddie Mac Pool #QJ1440 6.00% 8/1/2054 <sup>(a)</sup>  | 62 | 64 |

---

American Funds Insurance Series — Page 182 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #RJ2222 6.50% 8/1/2054 <sup>(a)</sup>  | USD12,404 | $12930 |
| Freddie Mac Pool #SD6034 6.50% 8/1/2054 <sup>(a)</sup>  | 11484 | 11970 |
| Freddie Mac Pool #SD8455 6.50% 8/1/2054 <sup>(a)</sup>  | 5251 | 5426 |
| Freddie Mac Pool #SD6047 6.50% 8/1/2054 <sup>(a)</sup>  | 4530 | 4741 |
| Freddie Mac Pool #SD6035 6.50% 8/1/2054 <sup>(a)</sup>  | 3155 | 3288 |
| Freddie Mac Pool #RJ2247 6.50% 8/1/2054 <sup>(a)</sup>  | 1863 | 1938 |
| Freddie Mac Pool #RJ2228 6.50% 8/1/2054 <sup>(a)</sup>  | 1068 | 1106 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(a)</sup>  | 3541 | 3575 |
| Freddie Mac Pool #SD6578 6.00% 9/1/2054 <sup>(a)</sup>  | 4431 | 4570 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(a)</sup>  | 475 | 487 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(a)</sup>  | 257 | 265 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(a)</sup>  | 239 | 246 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(a)</sup>  | 225 | 233 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(a)</sup>  | 150 | 154 |
| Freddie Mac Pool #QJ3982 6.00% 9/1/2054 <sup>(a)</sup>  | 44 | 45 |
| Freddie Mac Pool #QJ3945 6.00% 9/1/2054 <sup>(a)</sup>  | 29 | 30 |
| Freddie Mac Pool #RJ2320 6.50% 9/1/2054 <sup>(a)</sup>  | 4111 | 4284 |
| Freddie Mac Pool #SD6271 6.50% 9/1/2054 <sup>(a)</sup>  | 2473 | 2567 |
| Freddie Mac Pool #RJ2325 6.50% 9/1/2054 <sup>(a)</sup>  | 2196 | 2281 |
| Freddie Mac Pool #QJ4693 6.50% 9/1/2054 <sup>(a)</sup>  | 954 | 994 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(a)</sup>  | 4112 | 4151 |
| Freddie Mac Pool #QJ5971 6.00% 10/1/2054 <sup>(a)</sup>  | 146 | 150 |
| Freddie Mac Pool #QJ5733 6.00% 10/1/2054 <sup>(a)</sup>  | 46 | 47 |
| Freddie Mac Pool #SD8470 6.00% 10/1/2054 <sup>(a)</sup>  | 25 | 26 |
| Freddie Mac Pool #SD6733 6.50% 10/1/2054 <sup>(a)</sup>  | 5272 | 5467 |
| Freddie Mac Pool #QJ7714 6.50% 10/1/2054 <sup>(a)</sup>  | 136 | 141 |
| Freddie Mac Pool #SD8484 4.00% 11/1/2054 <sup>(a)</sup>  | 4270 | 4028 |
| Freddie Mac Pool #RJ2851 4.50% 11/1/2054 <sup>(a)</sup>  | 4771 | 4634 |
| Freddie Mac Pool #RJ2860 5.00% 11/1/2054 <sup>(a)</sup>  | 2657 | 2638 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(a)</sup>  | 13098 | 13222 |
| Freddie Mac Pool #RJ2917 5.50% 11/1/2054 <sup>(a)</sup>  | 10827 | 10947 |
| Freddie Mac Pool #RJ2922 6.00% 11/1/2054 <sup>(a)</sup>  | 3145 | 3217 |
| Freddie Mac Pool #RJ3017 5.00% 12/1/2054 <sup>(a)</sup>  | 3398 | 3377 |
| Freddie Mac Pool #RJ3163 5.00% 12/1/2054 <sup>(a)</sup>  | 6 | 6 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(a)</sup>  | 267 | 270 |
| Freddie Mac Pool #QX0376 5.50% 12/1/2054 <sup>(a)</sup>  | 13 | 13 |
| Freddie Mac Pool #QX1881 6.00% 12/1/2054 <sup>(a)</sup>  | 279 | 286 |
| Freddie Mac Pool #QX0548 6.50% 12/1/2054 <sup>(a)</sup>  | 778 | 806 |
| Freddie Mac Pool #SD8494 5.50% 1/1/2055 <sup>(a)</sup>  | 1376 | 1388 |
| Freddie Mac Pool #RJ3240 6.00% 1/1/2055 <sup>(a)</sup>  | 5373 | 5534 |
| Freddie Mac Pool #SD8496 6.00% 1/1/2055 <sup>(a)</sup>  | 2332 | 2385 |
| Freddie Mac Pool #RJ3301 6.00% 1/1/2055 <sup>(a)</sup>  | 2260 | 2332 |
| Freddie Mac Pool #RJ3305 6.00% 1/1/2055 <sup>(a)</sup>  | 1606 | 1654 |
| Freddie Mac Pool #QX4065 6.00% 1/1/2055 <sup>(a)</sup>  | 579 | 592 |
| Freddie Mac Pool #RJ3264 4.50% 2/1/2055 <sup>(a)</sup>  | 4575 | 4442 |
| Freddie Mac Pool #SD8506 5.50% 2/1/2055 <sup>(a)</sup>  | 7175 | 7241 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(a)</sup>  | 4010 | 4102 |
| Freddie Mac Pool #SL0797 6.00% 2/1/2055 <sup>(a)</sup>  | 1714 | 1768 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(a)</sup>  | 5290 | 5410 |
| Freddie Mac Pool #SD8517 6.50% 3/1/2055 <sup>(a)</sup>  | 6095 | 6305 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(a)</sup>  | 8605 | 8799 |
| Freddie Mac Pool #SL0796 6.00% 4/1/2055 <sup>(a)</sup>  | 1667 | 1705 |
| Freddie Mac Pool #SD8532 5.00% 5/1/2055 <sup>(a)</sup>  | 194 | 192 |
| Freddie Mac Pool #SD8533 5.50% 5/1/2055 <sup>(a)</sup>  | 10546 | 10640 |

---

American Funds Insurance Series — Page 183 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(a)</sup>  | USD3,355 | $3430 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(a)</sup>  | 873 | 866 |
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(a)</sup>  | 17189 | 17343 |
| Freddie Mac Pool #RQ0026 5.00% 7/1/2055 <sup>(a)</sup>  | 3986 | 3956 |
| Freddie Mac Pool #RQ0027 5.50% 7/1/2055 <sup>(a)</sup>  | 10560 | 10654 |
| Freddie Mac Pool #RQ0028 6.00% 7/1/2055 <sup>(a)</sup>  | 37868 | 38712 |
| Freddie Mac Pool #QY7483 6.00% 7/1/2055 <sup>(a)</sup>  | 687 | 704 |
| Freddie Mac Pool #RQ0041 6.00% 8/1/2055 <sup>(a)</sup>  | 8036 | 8215 |
| Freddie Mac Pool #RQ0050 6.00% 9/1/2055 <sup>(a)</sup>  | 4031 | 4121 |
| Freddie Mac Pool #RQ0056 5.50% 10/1/2055 <sup>(a)</sup>  | 1944 | 1961 |
| Freddie Mac, Series 3061, Class PN, 5.50% 11/15/2035 <sup>(a)</sup>  | 35 | 36 |
| Freddie Mac, Series 3318, Class JT, 5.50% 5/15/2037 <sup>(a)</sup>  | 91 | 95 |
| Freddie Mac, Series K156, Class A2, Multi Family, 4.43% 2/25/2033 <sup>(a)(b)</sup>  | 3461 | 3489 |
| Freddie Mac, Series 3146, Class PO, principal only, 0% 4/15/2036 <sup>(a)</sup>  | 80 | 71 |
| Freddie Mac, Series 3156, Class PO, principal only, 0% 5/15/2036 <sup>(a)</sup>  | 73 | 64 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057 <sup>(a)(b)</sup>  | 5506 | 5367 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/26/2058 <sup>(a)</sup>  | 1356 | 1311 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2022-1, Class A1, 3.50% 5/25/2032 <sup>(a)</sup>  | 7588 | 7362 |
| Government National Mortgage Assn. 2.00% 10/1/2055 <sup>(a)(c)</sup>  | 6176 | 5107 |
| Government National Mortgage Assn. 2.50% 10/1/2055 <sup>(a)(c)</sup>  | 4300 | 3703 |
| Government National Mortgage Assn. 5.00% 10/1/2055 <sup>(a)(c)</sup>  | 135 | 134 |
| Government National Mortgage Assn. Pool #MA5817 4.00% 3/20/2049 <sup>(a)</sup>  | 9075 | 8667 |
| Government National Mortgage Assn. Pool #MA6042 5.00% 7/20/2049 <sup>(a)</sup>  | 24 | 25 |
| Government National Mortgage Assn. Pool #MA6221 4.50% 10/20/2049 <sup>(a)</sup>  | 3773 | 3745 |
| Government National Mortgage Assn. Pool #MA6600 3.50% 4/20/2050 <sup>(a)</sup>  | 8364 | 7702 |
| Government National Mortgage Assn. Pool #MA6994 2.00% 11/20/2050 <sup>(a)</sup>  | 1884 | 1560 |
| Government National Mortgage Assn. Pool #MA7051 2.00% 12/20/2050 <sup>(a)</sup>  | 3267 | 2704 |
| Government National Mortgage Assn. Pool #785607 2.50% 8/20/2051 <sup>(a)</sup>  | 7596 | 6491 |
| Government National Mortgage Assn. Pool #785575 2.50% 8/20/2051 <sup>(a)</sup>  | 2776 | 2367 |
| Government National Mortgage Assn. Pool #785659 2.50% 10/20/2051 <sup>(a)</sup>  | 2685 | 2294 |
| Government National Mortgage Assn. Pool #MA7881 2.50% 2/20/2052 <sup>(a)</sup>  | 3934 | 3395 |
| Government National Mortgage Assn. Pool #785998 2.50% 3/20/2052 <sup>(a)</sup>  | 3395 | 2905 |
| Government National Mortgage Assn. Pool #MA7937 3.00% 3/20/2052 <sup>(a)</sup>  | 220 | 196 |
| Government National Mortgage Assn. Pool #MA7988 3.00% 4/20/2052 <sup>(a)</sup>  | 169 | 151 |
| Government National Mortgage Assn. Pool #MA8044 3.50% 5/20/2052 <sup>(a)</sup>  | 4532 | 4171 |
| Government National Mortgage Assn. Pool #MA8148 3.00% 7/20/2052 <sup>(a)</sup>  | 4697 | 4202 |
| Government National Mortgage Assn. Pool #MA8199 3.50% 8/20/2052 <sup>(a)</sup>  | 3873 | 3547 |
| Government National Mortgage Assn. Pool #MA8266 3.50% 9/20/2052 <sup>(a)</sup>  | 20845 | 19094 |
| Government National Mortgage Assn. Pool #MA8267 4.00% 9/20/2052 <sup>(a)</sup>  | 7404 | 7018 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052 <sup>(a)</sup>  | 5198 | 4935 |
| Government National Mortgage Assn. Pool #MA8799 4.50% 4/20/2053 <sup>(a)</sup>  | 3322 | 3239 |
| Government National Mortgage Assn. Pool #MA9015 4.50% 7/20/2053 <sup>(a)</sup>  | 11764 | 11466 |
| Government National Mortgage Assn. Pool #MA9016 5.00% 7/20/2053 <sup>(a)</sup>  | 3038 | 3032 |
| Government National Mortgage Assn. Pool #MA9104 4.50% 8/20/2053 <sup>(a)</sup>  | 7557 | 7355 |
| Government National Mortgage Assn. Pool #MA9169 4.50% 9/20/2053 <sup>(a)</sup>  | 12513 | 12172 |
| Government National Mortgage Assn. Pool #MA9776 4.00% 7/20/2054 <sup>(a)</sup>  | 1722 | 1629 |
| Government National Mortgage Assn. Pool #MB0024 4.50% 11/20/2054 <sup>(a)</sup>  | 20664 | 20063 |
| Government National Mortgage Assn. Pool #MB0147 5.50% 1/20/2055 <sup>(a)</sup>  | 3963 | 3997 |
| Government National Mortgage Assn. Pool #MB0205 5.50% 2/20/2055 <sup>(a)</sup>  | 2344 | 2363 |
| Government National Mortgage Assn. Pool #MB0424 5.50% 6/20/2055 <sup>(a)</sup>  | 7978 | 8046 |
| Government National Mortgage Assn. Pool #MB0485 5.50% 7/20/2055 <sup>(a)</sup>  | 12929 | 13043 |
| Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/2063 <sup>(a)</sup>  | 1464 | 1090 |
| Uniform Mortgage-Backed Security 2.00% 10/1/2040 <sup>(a)(c)</sup>  | 4973 | 4572 |
| Uniform Mortgage-Backed Security 2.00% 11/1/2040 <sup>(a)(c)</sup>  | 872 | 802 |

---

American Funds Insurance Series — Page 184 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Uniform Mortgage-Backed Security 2.00% 10/1/2055 <sup>(a)(c)</sup>  | USD511 | $412 |
| Uniform Mortgage-Backed Security 2.50% 10/1/2055 <sup>(a)(c)</sup>  | 82268 | 69323 |
| Uniform Mortgage-Backed Security 3.50% 10/1/2055 <sup>(a)(c)</sup>  | 68829 | 62893 |
| Uniform Mortgage-Backed Security 4.00% 10/1/2055 <sup>(a)(c)</sup>  | 16572 | 15620 |
| Uniform Mortgage-Backed Security 4.50% 10/1/2055 <sup>(a)(c)</sup>  | 26005 | 25227 |
| Uniform Mortgage-Backed Security 5.50% 10/1/2055 <sup>(a)(c)</sup>  | 13391 | 13503 |
| Uniform Mortgage-Backed Security 6.00% 10/1/2055 <sup>(a)(c)</sup>  | 3045 | 3111 |
| Uniform Mortgage-Backed Security 6.50% 10/1/2055 <sup>(a)(c)</sup>  | 8022 | 8291 |
| Uniform Mortgage-Backed Security 7.00% 10/1/2055 <sup>(a)(c)</sup>  | 57558 | 60212 |
| Uniform Mortgage-Backed Security 2.00% 11/1/2055 <sup>(a)(c)</sup>  | 1029 | 830 |
| Uniform Mortgage-Backed Security 2.50% 11/1/2055 <sup>(a)(c)</sup>  | 31462 | 26517 |
| Uniform Mortgage-Backed Security 3.00% 11/1/2055 <sup>(a)(c)</sup>  | 13805 | 12128 |
| Uniform Mortgage-Backed Security 5.50% 11/1/2055 <sup>(a)(c)</sup>  | 16161 | 16285 |
| Uniform Mortgage-Backed Security 6.50% 11/1/2055 <sup>(a)(c)</sup>  | 47611 | 49236 |
|  |  | 3182258 |
| **Commercial mortgage-backed securities 3.24%** |  |  |
| ALA Trust, Series 2025-OANA, Class A, (1-month USD CME Term SOFR + 1.743%) 5.894% 6/15/2040 <sup>(a)(b)(d)</sup>  | 11443 | 11519 |
| AMSR Trust, Series 2025-SFR1, Class A, 3.655% 6/17/2042 <sup>(a)(d)</sup>  | 11892 | 11444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARES Commercial Mortgage Trust, Series 24-IND, Class A, (1-month USD CME Term SOFR + 1.69%) 5.842% <br> 7/15/2041 <sup>(a)(b)(d)</sup>  | 1251 | 1256 |
| Bank Commercial Mortgage Trust, Series 2019-BN16, Class A4, 4.005% 2/15/2052 <sup>(a)</sup>  | 770 | 761 |
| Bank Commercial Mortgage Trust, Series 2019-BN17, Class A4, 3.714% 4/15/2052 <sup>(a)</sup>  | 100 | 98 |
| Bank Commercial Mortgage Trust, Series 2023-5YR3, Class AS, 7.315% 9/15/2056 <sup>(a)(b)</sup>  | 684 | 735 |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class AS, 7.274% 12/15/2056 <sup>(a)(b)</sup>  | 500 | 535 |
| Bank Commercial Mortgage Trust, Series 2024-5YR11, Class AS, 6.139% 11/15/2057 <sup>(a)</sup>  | 3537 | 3692 |
| Bank Commercial Mortgage Trust, Series 2018-BN10, Class A4, 3.428% 2/17/2061 <sup>(a)</sup>  | 123 | 121 |
| Bank Commercial Mortgage Trust, Series 2019-BN19, Class A3, 3.183% 8/15/2061 <sup>(a)</sup>  | 1018 | 963 |
| Bank Commercial Mortgage Trust, Series 2020-BN26, Class A4, 2.403% 3/15/2063 <sup>(a)</sup>  | 295 | 269 |
| Benchmark Mortgage Trust, Series 2018-B8, Class A5, 4.232% 1/15/2052 <sup>(a)</sup>  | 2541 | 2511 |
| Benchmark Mortgage Trust, Series 2018-B7, Class A4, 4.51% 5/15/2053 <sup>(a)(b)</sup>  | 781 | 783 |
| Benchmark Mortgage Trust, Series 2024-V5, Class AM, 6.417% 1/10/2057 <sup>(a)</sup>  | 3361 | 3516 |
| Benchmark Mortgage Trust, Series 2024-V11, Class AM, 6.201% 11/15/2057 <sup>(a)</sup>  | 2174 | 2280 |
| BMO Mortgage Trust, Series 2024-5C5, Class AS, 6.364% 2/15/2057 <sup>(a)(b)</sup>  | 2774 | 2918 |
| BMO Mortgage Trust, Series 2025-5C9, Class A3, 5.779% 4/15/2058 <sup>(a)</sup>  | 7780 | 8168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, Series 2022-CSMO, Class A, (1-month USD CME Term SOFR + 2.115%) 6.265% <br> 6/15/2027 <sup>(a)(b)(d)</sup>  | 8476 | 8532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 4.965% <br> 9/15/2036 <sup>(a)(b)(d)</sup>  | 14268 | 14227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, Series 2021-SOAR, Class A, (1-month USD CME Term SOFR + 0.784%) 4.935% <br> 6/15/2038 <sup>(a)(b)(d)</sup>  | 1981 | 1980 |
| BX Trust, Series 2024-KING, Class A, (1-month USD CME Term SOFR + 1.541%) 5.691% 5/15/2034 <sup>(a)(b)(d)</sup>  | 2183 | 2187 |
| BX Trust, Series 2021-VOLT, Class B, (1-month USD CME Term SOFR + 1.064%) 5.215% 9/15/2036 <sup>(a)(b)(d)</sup>  | 552 | 551 |
| BX Trust, Series 2021-ARIA, Class B, (1-month USD CME Term SOFR + 1.411%) 5.562% 10/15/2036 <sup>(a)(b)(d)</sup>  | 995 | 995 |
| BX Trust, Series 2021-ARIA, Class C, (1-month USD CME Term SOFR + 1.76%) 5.911% 10/15/2036 <sup>(a)(b)(d)</sup>  | 996 | 996 |
| BX Trust, Series 2021-RISE, Class A, (1-month USD CME Term SOFR + 0.862%) 5.012% 11/15/2036 <sup>(a)(b)(d)</sup>  | 10670 | 10659 |
| BX Trust, Series 2022-IND, Class A, (1-month USD CME Term SOFR + 1.491%) 5.641% 4/15/2037 <sup>(a)(b)(d)</sup>  | 2951 | 2954 |
| BX Trust, Series 2021-SOAR, Class B, (1-month USD CME Term SOFR + 0.984%) 5.135% 6/15/2038 <sup>(a)(b)(d)</sup>  | 382 | 382 |
| BX Trust, Series 2021-SOAR, Class C, (1-month USD CME Term SOFR + 1.214%) 5.365% 6/15/2038 <sup>(a)(b)(d)</sup>  | 259 | 259 |
| BX Trust, Series 2021-SOAR, Class D, (1-month USD CME Term SOFR + 1.514%) 5.665% 6/15/2038 <sup>(a)(b)(d)</sup>  | 654 | 654 |
| BX Trust, Series 2021-ACNT, Class A, (1-month USD CME Term SOFR + 0.964%) 5.115% 11/15/2038 <sup>(a)(b)(d)</sup>  | 7785 | 7783 |
| BX Trust, Series 2021-ACNT, Class B, (1-month USD CME Term SOFR + 1.364%) 5.515% 11/15/2038 <sup>(a)(b)(d)</sup>  | 264 | 264 |
| BX Trust, Series 2021-ACNT, Class C, (1-month USD CME Term SOFR + 1.614%) 5.765% 11/15/2038 <sup>(a)(b)(d)</sup>  | 78 | 78 |
| BX Trust, Series 2021-ACNT, Class D, (1-month USD CME Term SOFR + 1.964%) 6.115% 11/15/2038 <sup>(a)(b)(d)</sup>  | 118 | 118 |

---

American Funds Insurance Series — Page 185 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Commercial mortgage-backed securities (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| BX Trust, Series 2022-AHP, Class A, (1-month USD CME Term SOFR + 0.99%) 5.14% 1/17/2039 <sup>(a)(b)(d)</sup>  | USD8,600 | $8597 |
| BX Trust, Series 2024-AIRC, Class A, (1-month USD CME Term SOFR + 1.691%) 5.842% 8/15/2039 <sup>(a)(b)(d)</sup>  | 7715 | 7741 |
| BX Trust, Series 2024-BIO2, Class A, 5.594% 8/13/2041 <sup>(a)(b)(d)</sup>  | 26909 | 27385 |
| CALI Mortgage Trust, Series 24-SUN, Class A, (1-month USD CME Term SOFR + 1.89%) 6.041% 7/15/2041 <sup>(a)(b)(d)</sup>  | 1514 | 1520 |
| CART, Series 2024-DFW1, Class A, (1-month USD CME Term SOFR + 1.642%) 5.792% 8/15/2041 <sup>(a)(b)(d)</sup>  | 5461 | 5465 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(a)(b)(d)</sup>  | 19044 | 19641 |
| Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5, 3.616% 2/10/2049 <sup>(a)</sup>  | 610 | 606 |
| DATA 2023-CNTR Mortgage Trust, Series 2023-CNTR, Class A, 5.728% 8/12/2043 <sup>(a)(b)(d)</sup>  | 8924 | 9247 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class A, 6.314% 9/12/2040 <sup>(a)(d)</sup>  | 966 | 1001 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class B, 6.804% 9/12/2040 <sup>(a)(d)</sup>  | 1121 | 1165 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class C, 7.14% 9/12/2040 <sup>(a)(b)(d)</sup>  | 862 | 896 |
| Deutsche Bank Commercial Mortgage Trust, Series 2016-C1, Class AM, 3.539% 5/10/2049 <sup>(a)</sup>  | 200 | 197 |
| Durst Commercial Mortgage Trust, Series 2025-151, Class A, 5.145% 8/10/2042 <sup>(a)(b)(d)</sup>  | 7301 | 7445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extended Stay America Trust, Series 2021-ESH, Class B, (1-month USD CME Term SOFR + 1.494%) 5.645% <br> 7/15/2038 <sup>(a)(b)(d)</sup>  | 554 | 555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extended Stay America Trust, Series 2021-ESH, Class C, (1-month USD CME Term SOFR + 1.814%) 5.965% <br> 7/15/2038 <sup>(a)(b)(d)</sup>  | 756 | 756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extended Stay America Trust, Series 2021-ESH, Class D, (1-month USD CME Term SOFR + 2.364%) 6.515% <br> 7/15/2038 <sup>(a)(b)(d)</sup>  | 578 | 579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extended Stay America Trust, Series 2025-ESH, Class A, (1-month USD CME Term SOFR + 1.30%) 5.45% <br> 10/15/2042 <sup>(a)(b)(d)</sup>  | 9486 | 9498 |
| FIVE Mortgage Trust, Series 2023-V1, Class A3, 5.668% 2/10/2056 <sup>(a)</sup>  | 2432 | 2495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class A, (1-month USD CME Term SOFR + 1.45%) 5.60% <br> 12/15/2039 <sup>(a)(b)(d)</sup>  | 1508 | 1511 |
| GS Mortgage Securities Trust, Series 2024-70P, Class A, 5.487% 3/10/2041 <sup>(a)(b)(d)</sup>  | 10443 | 10484 |
| GS Mortgage Securities Trust, Series 2017-GS7, Class A4, 3.43% 8/10/2050 <sup>(a)</sup>  | 400 | 392 |
| GS Mortgage Securities Trust, Series 2019-GC38, Class A4, 3.968% 2/10/2052 <sup>(a)</sup>  | 100 | 98 |
| GS Mortgage Securities Trust, Series 2020-GC47, Class A5, 2.377% 5/12/2053 <sup>(a)</sup>  | 1536 | 1407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hawaii Hotel Trust, Series 2025-MAUI, Class A, (1-month USD CME Term SOFR + 1.393%) 5.543% <br>3/15/2042 <sup>(a)(b)(d)</sup>  | 8260 | 8276 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.644% 2/5/2045 <sup>(a)(b)(d)</sup>  | 15120 | 15663 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class A, 6.072% 5/10/2039 <sup>(a)(b)(d)</sup>  | 1478 | 1500 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.649% 1/13/2040 <sup>(a)(b)(d)</sup>  | 24720 | 25569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INTOWN Mortgage Trust, Series 2025-STAY, Class A, (1-month USD CME Term SOFR + 1.35%) 5.50% <br>3/15/2042 <sup>(a)(b)(d)</sup>  | 28416 | 28453 |
| JPMDB Commercial Mortgage Securities Trust, Series 2017-C5, Class A5, 3.694% 3/15/2050 <sup>(a)</sup>  | 640 | 631 |
| JPMDB Commercial Mortgage Securities Trust, Series 2017-C7, Class A5, 3.409% 10/15/2050 <sup>(a)</sup>  | 240 | 235 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class A, 3.024% 1/5/2039 <sup>(a)(d)</sup>  | 6854 | 6180 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP4, Class A4, 3.648% 12/15/2049 <sup>(a)(b)</sup>  | 2040 | 2019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KSL Commercial Mortgage Trust, Series 2024-HT2, Class A, (1-month USD CME Term SOFR + 1.542%) 5.693% <br> 12/15/2039 <sup>(a)(b)(d)</sup>  | 12288 | 12302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MHC Commercial Mortgage Trust, CMO, Series 2021-MHC, Class A, (1-month USD CME Term SOFR + 0.915%) <br> 5.066% 4/15/2038 <sup>(a)(b)(d)</sup>  | 19 | 19 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class A-4, 3.306% 4/15/2048 <sup>(a)</sup>  | 60 | 59 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C32, Class A-4, 3.72% 12/15/2049 <sup>(a)</sup>  | 245 | 243 |
| Morgan Stanley Capital I Trust, Series 2015-UBS8, Class AS, 4.114% 12/15/2048 <sup>(a)</sup>  | 730 | 722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A, (1-month USD CME Term SOFR + 1.392%) 5.542% <br> 5/15/2039 <sup>(a)(b)(d)</sup>  | 3848 | 3843 |
| SLG Office Trust, Series 2021-OVA, Class A, 2.585% 7/15/2041 <sup>(a)(d)</sup>  | 4065 | 3618 |
| SREIT Trust, Series 2021-MFP, Class B, (1-month USD CME Term SOFR + 1.194%) 5.344% 11/15/2038 <sup>(a)(b)(d)</sup>  | 221 | 220 |
| SREIT Trust, Series 2021-MFP, Class C, (1-month USD CME Term SOFR + 1.443%) 5.594% 11/15/2038 <sup>(a)(b)(d)</sup>  | 118 | 118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, (1-month USD CME Term SOFR + 1.443%) <br> 5.593% 2/15/2042 <sup>(a)(b)(d)</sup>  | 26882 | 26780 |
| Wells Fargo Commercial Mortgage Trust, Series 2016-C37, Class A5, 3.794% 12/15/2049 <sup>(a)</sup>  | 2550 | 2532 |

---

American Funds Insurance Series — Page 186 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Commercial mortgage-backed securities (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Wells Fargo Commercial Mortgage Trust, Series 2019-C54, Class A4, 3.146% 12/15/2052 <sup>(a)</sup>  | USD1,019 | $969 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C2, Class A3, 5.92% 11/15/2057 <sup>(a)</sup>  | 5667 | 5972 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-RC1, Class A4, 3.631% 1/15/2060 <sup>(a)</sup>  | 205 | 203 |
|  |  | 368995 |
| **Collateralized mortgage-backed obligations (privately originated) 3.08%** |  |  |
| Arroyo Mortgage Trust, Series 2021-1R, Class A1, 1.175% 10/25/2048 <sup>(a)(b)(d)</sup>  | 1575 | 1428 |
| Arroyo Mortgage Trust, Series 2020-1, Class A1A, 1.662% 3/25/2055 <sup>(a)(d)</sup>  | 57 | 55 |
| Arroyo Mortgage Trust, Series 2022-1, Class A1A, 2.495% 12/25/2056 (3.495% on 2/25/2026) <sup>(a)(d)(e)</sup>  | 4002 | 3866 |
| Atlas SP, Series 2024-RPL1, Class A1, 3.85% 4/25/2064 (4.85% on 8/1/2028) <sup>(a)(d)(e)</sup>  | 11488 | 11158 |
| BRAVO Residential Funding Trust, Series 2020-RPL2, Class A1, 2.00% 5/25/2059 <sup>(a)(b)(d)</sup>  | 556 | 525 |
| BRAVO Residential Funding Trust, Series 2020-RPL1, Class A1, 2.50% 5/26/2059 <sup>(a)(b)(d)</sup>  | 192 | 189 |
| BRAVO Residential Funding Trust, Series 2022-RPL1, Class A1, 2.75% 9/25/2061 <sup>(a)(d)</sup>  | 649 | 597 |
| Cascade Funding Mortgage Trust, Series 2023-HB12, Class A, 4.25% 4/25/2033 <sup>(a)(b)(d)</sup>  | 11 | 11 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(a)(b)(d)</sup>  | 2080 | 2073 |
| Cascade Funding Mortgage Trust, Series 2024-RM5, Class A, 4.00% 10/25/2054 <sup>(a)(b)(d)</sup>  | 13363 | 13137 |
| CIM Trust, Series 2022-R2, Class A1, 3.75% 12/25/2061 <sup>(a)(b)(d)</sup>  | 5029 | 4807 |
| Citigroup Mortgage Loan Trust, Series 2020-EXP1, Class A1A, 1.804% 5/25/2060 <sup>(a)(b)(d)</sup>  | 120 | 113 |
| COLT Mortgage Loan Trust, Series 2021-5, Class A1, 1.726% 11/26/2066 <sup>(a)(b)(d)</sup>  | 1032 | 933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2022-R06, Class 1M1, (30-day Average USD-SOFR + 2.75%) 7.106% <br> 5/25/2042 <sup>(a)(b)(d)</sup>  | 163 | 167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R01, Class 1M1, (30-day Average USD-SOFR + 2.40%) 6.756% <br> 12/25/2042 <sup>(a)(b)(d)</sup>  | 437 | 448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M1, (30-day Average USD-SOFR + 2.30%) 6.656% <br> 5/25/2043 <sup>(a)(b)(d)</sup>  | 2198 | 2244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M1, (30-day Average USD-SOFR + 1.90%) 6.256% <br> 6/25/2043 <sup>(a)(b)(d)</sup>  | 1239 | 1249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M1, (30-day Average USD-SOFR + 1.70%) 6.056% <br> 7/25/2043 <sup>(a)(b)(d)</sup>  | 623 | 625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M1, (30-day Average USD-SOFR + 1.05%) 5.406% <br> 1/25/2044 <sup>(a)(b)(d)</sup>  | 3060 | 3061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M2, (30-day Average USD-SOFR + 1.80%) 6.156% <br> 1/25/2044 <sup>(a)(b)(d)</sup>  | 507 | 512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M1, (30-day Average USD-SOFR + 1.10%) 5.456% <br> 2/25/2044 <sup>(a)(b)(d)</sup>  | 295 | 295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M2, (30-day Average USD-SOFR + 1.80%) 6.156% <br> 2/25/2044 <sup>(a)(b)(d)</sup>  | 1053 | 1063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M1, (30-day Average USD-SOFR + 1.10%) 5.456% <br> 5/25/2044 <sup>(a)(b)(d)</sup>  | 2387 | 2389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M1, (30-day Average USD-SOFR + 1.05%) 5.406% <br> 9/25/2044 <sup>(a)(b)(d)</sup>  | 689 | 688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M2, (30-day Average USD-SOFR + 1.60%) 5.956% <br> 9/25/2044 <sup>(a)(b)(d)</sup>  | 1584 | 1588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1, (30-day Average USD-SOFR + 1.00%) 5.356% <br> 2/25/2045 <sup>(a)(b)(d)</sup>  | 1980 | 1984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2025-R02, Class 1M1, (30-day Average USD-SOFR + 1.15%) 5.506% <br> 2/25/2045 <sup>(a)(b)(d)</sup>  | 4616 | 4619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2025-R04, Class 1M1, (30-day Average USD-SOFR + 1.20%) 5.556% <br> 5/25/2045 <sup>(a)(b)(d)</sup>  | 6248 | 6266 |
| Flagstar Mortgage Trust, Series 2021-8INV, Class A3, 2.50% 9/25/2051 <sup>(a)(b)(d)</sup>  | 1661 | 1377 |
| Flagstar Mortgage Trust, Series 2021-11INV, Class A4, 2.50% 11/25/2051 <sup>(a)(b)(d)</sup>  | 1826 | 1519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA5, Class M1A, (30-day Average <br> USD-SOFR + 2.95%) 7.306% 6/25/2042 <sup>(a)(b)(d)</sup>  | 115 | 118 |

---

American Funds Insurance Series — Page 187 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Collateralized mortgage-backed obligations (privately originated) (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average <br> USD-SOFR + 2.15%) 6.506% 9/25/2042 <sup>(a)(b)(d)</sup>  | USD165 | $166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1B, (30-day Average <br> USD-SOFR + 3.70%) 8.056% 9/25/2042 <sup>(a)(b)(d)</sup>  | 1519 | 1597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA1, Class M1, (30-day Average <br> USD-SOFR + 1.35%) 5.706% 2/25/2044 <sup>(a)(b)(d)</sup>  | 3030 | 3036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class M1, (30-day Average <br> USD-SOFR + 1.20%) 5.556% 5/25/2044 <sup>(a)(b)(d)</sup>  | 12073 | 12080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA3, Class M1, (30-day Average <br> USD-SOFR + 1.00%) 5.356% 10/25/2044 <sup>(a)(b)(d)</sup>  | 2733 | 2733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA3, Class M2, (30-day Average <br> USD-SOFR + 1.45%) 5.806% 10/25/2044 <sup>(a)(b)(d)</sup>  | 1648 | 1650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.10%) 5.456% 5/25/2045 <sup>(a)(b)(d)</sup>  | 2630 | 2638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA2, Class M1, (30-day Average <br> USD-SOFR + 1.20%) 5.556% 5/25/2045 <sup>(a)(b)(d)</sup>  | 8027 | 8042 |
| GCAT Trust, Series 2024-NQM2, Class A1, 6.085% 6/25/2059 (7.359% on 5/1/2028) <sup>(a)(d)(e)</sup>  | 4024 | 4075 |
| GCAT Trust, Series 2021-NQM6, Class A1, 1.855% 8/25/2066 <sup>(a)(b)(d)</sup>  | 1653 | 1514 |
| GS Mortgage-Backed Securities Trust, Series 2024-RPL2, Class A1, 3.75% 7/25/2061 (4.75% on 2/1/2028) <sup>(a)(d)(e)</sup>  | 679 | 665 |
| Home Partners of America Trust, Series 2021-2, Class A, 1.901% 12/17/2026 <sup>(a)(d)</sup>  | 4440 | 4314 |
| HOMES Trust, Series 2024-NQM1, Class A1, 5.915% 7/25/2069 (6.915% on 7/1/2028) <sup>(a)(d)(e)</sup>  | 14442 | 14602 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A2, 6.00% 4/25/2055 <sup>(a)(b)(d)</sup>  | 609 | 618 |
| Legacy Mortgage Asset Trust, Series 2021-GS2, Class A1, 5.75% 4/25/2061 <sup>(a)(d)</sup>  | 604 | 603 |
| Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 2.25% 7/25/2067 (6.25% on 11/25/2025) <sup>(a)(d)(e)</sup>  | 1866 | 1867 |
| MFRA Trust, Series 2021-RPL1, Class A1, 1.131% 7/25/2060 <sup>(a)(b)(d)</sup>  | 1911 | 1755 |
| MFRA Trust, Series 2024-NQM2, Class A1, 5.272% 8/25/2069 (6.272% on 8/1/2028) <sup>(a)(d)(e)</sup>  | 20878 | 20929 |
| MFRA Trust, Series 2025-NQM3, Class A1, 5.261% 8/25/2070 (6.261% on 7/1/2029) <sup>(a)(d)(e)</sup>  | 3168 | 3180 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2024-HYB1, Class A1, 3.632% 3/25/2053 <sup>(a)(b)(d)</sup>  | 2319 | 2284 |
| Onslow Bay Financial, LLC, Series 2024-HYB2, Class A1, 3.687% 4/25/2053 <sup>(a)(b)(d)</sup>  | 1777 | 1751 |
| Onslow Bay Financial, LLC, Series 2024-NQM5, Class A1, 5.988% 1/25/2064 (6.988% on 3/1/2028) <sup>(a)(d)(e)</sup>  | 6040 | 6104 |
| Onslow Bay Financial, LLC, Series 2024-NQM4, Class A1, 6.067% 1/25/2064 (7.067% on 2/1/2028) <sup>(a)(d)(e)</sup>  | 3002 | 3036 |
| Onslow Bay Financial, LLC, Series 2024-NQM7, Class A1, 6.243% 3/25/2064 (7.243% on 4/1/2028) <sup>(a)(d)(e)</sup>  | 6656 | 6749 |
| Onslow Bay Financial, LLC, Series 2024-NQM10, Class A1, 6.18% 5/25/2064 (7.18% on 6/1/2028) <sup>(a)(d)(e)</sup>  | 6441 | 6529 |
| Onslow Bay Financial, LLC, Series 2024-NQM8, Class A1, 6.233% 5/25/2064 (7.233% on 5/1/2028) <sup>(a)(d)(e)</sup>  | 16130 | 16368 |
| Onslow Bay Financial, LLC, Series 2024-NQM13, Class A1, 5.116% 6/25/2064 (6.116% on 8/1/2028) <sup>(a)(d)(e)</sup>  | 4843 | 4855 |
| Onslow Bay Financial, LLC, Series 2024-NQM11, Class A1, 5.875% 6/25/2064 (6.825% on 7/1/2028) <sup>(a)(d)(e)</sup>  | 18239 | 18441 |
| PRKCM Trust, Series 2021-AFC2, Class A1, 2.071% 11/25/2056 <sup>(a)(b)(d)</sup>  | 1268 | 1132 |
| Progress Residential Trust, Series 2022-SFR3, Class A, 3.20% 4/17/2039 <sup>(a)(d)</sup>  | 1079 | 1059 |
| Progress Residential Trust, Series 2024-SFR2, Class B, 3.40% 4/17/2041 <sup>(a)(b)(d)</sup>  | 1044 | 998 |
| Progress Residential Trust, Series 2025-SFR2, Class A, 3.305% 4/17/2042 <sup>(a)(d)</sup>  | 14314 | 13593 |
| Progress Residential Trust, Series 2025-SFR3, Class A, 3.39% 7/17/2042 <sup>(a)(d)</sup>  | 4038 | 3829 |
| PRP Advisors, LLC, Series 2025-RPL3, Class A1, 3.25% 4/25/2055 (4.25% on 4/1/2028) <sup>(a)(d)(e)</sup>  | 3062 | 2955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust, Series 2024-SFR4, Class A, (1-month USD CME Term SOFR + 1.75%) 5.90% <br> 10/17/2041 <sup>(a)(b)(d)</sup>  | 6364 | 6390 |
| Towd Point Mortgage Trust, Series 2020-4, Class A1, 1.75% 10/25/2060 <sup>(a)(d)</sup>  | 7181 | 6556 |
| Towd Point Mortgage Trust, Series 2024-3, Class A1A, 5.027% 7/25/2065 <sup>(a)(b)(d)</sup>  | 3151 | 3189 |
| Treehouse Park Improvement Association No.1 9.75% 12/1/2033 <sup>(d)(f)</sup>  | 1368 | 1368 |
| Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943% 7/17/2038 <sup>(a)(d)</sup>  | 5017 | 4918 |
| Tricon Residential Trust, Series 2024-SFR2, Class A, 4.75% 6/17/2040 <sup>(a)(d)</sup>  | 8569 | 8602 |
| Tricon Residential Trust, Series 2024-SFR3, Class A, 4.50% 8/17/2041 <sup>(a)(d)</sup>  | 7459 | 7453 |
| Tricon Residential Trust, Series 2024-SFR4, Class A, 4.30% 11/17/2041 <sup>(a)(d)</sup>  | 3354 | 3329 |
| Verus Securitization Trust, Series 2024-3, Class A1, 6.338% 4/25/2069 (7.338% on 4/1/2028) <sup>(a)(d)(e)</sup>  | 14127 | 14334 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.218% 6/25/2069 (7.218% on 5/1/2028) <sup>(a)(d)(e)</sup>  | 6137 | 6224 |
| Verus Securitization Trust, Series 2024-6, Class A1, 5.799% 7/25/2069 (6.799% on 7/1/2028) <sup>(a)(d)(e)</sup>  | 13299 | 13439 |

---

American Funds Insurance Series — Page 188 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Collateralized mortgage-backed obligations (privately originated) (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Verus Securitization Trust, Series 2024-8, Class A1, 5.364% 10/25/2069 <sup>(a)(b)(d)</sup>  | USD4,216 | $4242 |
| Verus Securitization Trust, Series 2025-5, Class A1, 5.427% 6/25/2070 (6.427% on 6/1/2029) <sup>(a)(d)(e)</sup>  | 21008 | 21182 |
| Verus Securitization Trust, Series 2025-7, Class A1, 5.129% 8/25/2070 (6.129% on 8/1/2029) <sup>(a)(d)(e)</sup>  | 4518 | 4541 |
|  |  | 350618 |
| **Total mortgage-backed obligations** |  | 3901871 |
| **Corporate bonds, notes & loans 31.94%**<br> **Financials 10.59%**<br>|  |  |
| AerCap Ireland Capital DAC 1.75% 1/30/2026  | 2841 | 2818 |
| AerCap Ireland Capital DAC 2.45% 10/29/2026  | 10289 | 10112 |
| AerCap Ireland Capital DAC 6.45% 4/15/2027  | 3994 | 4121 |
| Aero Capital Solutions, Inc., Term Loan, (1-month USD CME Term SOFR + 3.00%) 7.61% 11/17/2029 <sup>(b)(d)(f)(g)</sup>  | 6754 | 6704 |
| AIB Group PLC 6.608% 9/13/2029 (USD-SOFR + 2.33% on 9/13/2028) <sup>(d)(e)</sup>  | 1597 | 1696 |
| AIB Group PLC 5.871% 3/28/2035 (USD-SOFR + 1.91% on 3/28/2034) <sup>(d)(e)</sup>  | 1995 | 2100 |
| Alpha Bank SA 7.50% 6/16/2027 (1-year EUR Mid-Swap + 5.084% on 6/16/2026) <sup>(e)</sup>  | EUR437 | 532 |
| Alpha Bank SA 6.875% 6/27/2029 (1-year EUR-ICE Swap EURIBOR + 3.793% on 6/27/2028) <sup>(e)</sup>  | 2840 | 3689 |
| Alpha Bank SA 5.00% 5/12/2030 (1-year EUR-ICE Swap EURIBOR + 2.432% on 5/12/2029) <sup>(e)</sup>  | 4065 | 5099 |
| American Express Co. 6.338% 10/30/2026 (USD-SOFR + 1.33% on 10/30/2025) <sup>(e)</sup>  | USD604 | 605 |
| American Express Co. 6.489% 10/30/2031 (USD-SOFR + 1.94% on 10/30/2030) <sup>(e)</sup>  | 359 | 394 |
| American Express Co. 5.043% 5/1/2034 (USD-SOFR + 1.835% on 5/1/2033) <sup>(e)</sup>  | 1618 | 1662 |
| American Express Co. 5.442% 1/30/2036 (USD-SOFR + 1.32% on 1/30/2035) <sup>(e)</sup>  | 4927 | 5126 |
| American Express Co. 5.667% 4/25/2036 (USD-SOFR + 1.79% on 4/25/2035) <sup>(e)</sup>  | 2464 | 2605 |
| American International Group, Inc. 4.85% 5/7/2030  | 24445 | 25023 |
| American International Group, Inc. 5.125% 3/27/2033  | 2749 | 2830 |
| Aon Corp. 5.35% 2/28/2033  | 1083 | 1133 |
| Aon North America, Inc. 5.15% 3/1/2029  | 3015 | 3103 |
| Aon North America, Inc. 5.30% 3/1/2031  | 1005 | 1048 |
| Aon North America, Inc. 5.45% 3/1/2034  | 2550 | 2657 |
| Aon North America, Inc. 5.75% 3/1/2054  | 1163 | 1172 |
| Arthur J. Gallagher & Co. 4.85% 12/15/2029  | 3140 | 3207 |
| Arthur J. Gallagher & Co. 5.15% 2/15/2035  | 1845 | 1868 |
| Arthur J. Gallagher & Co. 5.55% 2/15/2055  | 1845 | 1805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Santander SA 1.722% 9/14/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.90% on <br> 9/14/2026) <sup>(e)</sup>  | 1400 | 1366 |
| Bank of America Corp. 2.551% 2/4/2028 (USD-SOFR + 1.05% on 2/4/2027) <sup>(e)</sup>  | 4295 | 4207 |
| Bank of America Corp. 4.376% 4/27/2028 (USD-SOFR + 1.58% on 4/27/2027) <sup>(e)</sup>  | 2635 | 2645 |
| Bank of America Corp. 2.087% 6/14/2029 (USD-SOFR + 1.06% on 6/14/2028) <sup>(e)</sup>  | 3202 | 3034 |
| Bank of America Corp. 5.819% 9/15/2029 (USD-SOFR + 1.57% on 9/15/2028) <sup>(e)</sup>  | 339 | 355 |
| Bank of America Corp. 3.974% 2/7/2030 (3-month USD CME Term SOFR + 1.472% on 2/7/2029) <sup>(e)</sup>  | 1150 | 1142 |
| Bank of America Corp. 2.884% 10/22/2030 (3-month USD CME Term SOFR + 1.19% on 10/22/2029) <sup>(e)</sup>  | 3691 | 3504 |
| Bank of America Corp. 5.162% 1/24/2031 (USD-SOFR + 1.00% on 1/24/2030) <sup>(e)</sup>  | 5024 | 5187 |
| Bank of America Corp. 1.922% 10/24/2031 (USD-SOFR + 1.37% on 10/24/2030) <sup>(e)</sup>  | 20927 | 18592 |
| Bank of America Corp. 2.299% 7/21/2032 (USD-SOFR + 1.22% on 7/21/2031) <sup>(e)</sup>  | 36155 | 32081 |
| Bank of New York Mellon Corp. 4.975% 3/14/2030 (USD-SOFR + 1.085% on 3/14/2029) <sup>(e)</sup>  | 1858 | 1910 |
| Bank of New York Mellon Corp. 5.06% 7/22/2032 (USD-SOFR + 1.23% on 7/22/2031) <sup>(e)</sup>  | 5690 | 5882 |
| Bank of New York Mellon Corp. 5.188% 3/14/2035 (USD-SOFR + 1.418% on 3/14/2034) <sup>(e)</sup>  | 2378 | 2452 |
| Bank of Nova Scotia (The) 5.25% 6/12/2028  | 1370 | 1414 |
| Banque Federative du Credit Mutuel 0.82% 10/16/2026  | JPY300,000 | 2019 |
| Barclays PLC 4.837% 9/10/2028 (USD-SOFR + 1.34% on 9/10/2027) <sup>(e)</sup>  | USD2,585 | 2612 |
| Block, Inc. 2.75% 6/1/2026  | 1975 | 1951 |
| Block, Inc. 5.625% 8/15/2030 <sup>(d)</sup>  | 1735 | 1759 |
| BNP Paribas SA 2.591% 1/20/2028 (USD-SOFR + 1.228% on 1/20/2027) <sup>(d)(e)</sup>  | 13134 | 12852 |
| BNP Paribas SA 2.159% 9/15/2029 (USD-SOFR + 1.218% on 9/15/2028) <sup>(d)(e)</sup>  | 3594 | 3371 |

---

American Funds Insurance Series — Page 189 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Financials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| BPCE SA 1.652% 10/6/2026 (USD-SOFR + 1.52% on 10/6/2025) <sup>(d)(e)</sup>  | USD4,729 | $4727 |
| BPCE SA 0.895% 12/14/2026  | JPY100,000 | 673 |
| BPCE SA 5.975% 1/18/2027 (USD-SOFR + 2.10% on 1/18/2026) <sup>(d)(e)</sup>  | USD2,150 | 2158 |
| BPCE SA 6.714% 10/19/2029 (USD-SOFR + 2.27% on 10/19/2028) <sup>(d)(e)</sup>  | 5000 | 5310 |
| BPCE SA 5.716% 1/18/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.959% on 1/18/2029) <sup>(d)(e)</sup>  | 1285 | 1329 |
| BPCE SA 5.876% 1/14/2031 (USD-SOFR + 1.68% on 1/14/2030) <sup>(d)(e)</sup>  | 1845 | 1927 |
| BPCE SA 5.389% 5/28/2031 (USD-SOFR + 1.581% on 5/28/2030) <sup>(d)(e)</sup>  | 3814 | 3915 |
| BPCE SA 5.936% 5/30/2035 (USD-SOFR + 1.85% on 5/30/2034) <sup>(d)(e)</sup>  | 4503 | 4719 |
| BPCE SA 6.293% 1/14/2036 (USD-SOFR + 2.04% on 1/14/2035) <sup>(d)(e)</sup>  | 10005 | 10712 |
| CaixaBank SA 5.673% 3/15/2030 (USD-SOFR + 1.78% on 3/15/2029) <sup>(d)(e)</sup>  | 10948 | 11359 |
| CaixaBank SA 6.84% 9/13/2034 (USD-SOFR + 2.77% on 9/13/2033) <sup>(d)(e)</sup>  | 1900 | 2118 |
| CaixaBank SA 6.037% 6/15/2035 (USD-SOFR + 2.26% on 9/15/2034) <sup>(d)(e)</sup>  | 3953 | 4203 |
| Canadian Imperial Bank of Commerce 5.237% 6/28/2027  | 2650 | 2704 |
| Canadian Imperial Bank of Commerce 4.857% 3/30/2029 (USD-SOFR + 1.03% on 3/31/2028) <sup>(e)</sup>  | 31095 | 31586 |
| Capital One Financial Corp. 5.468% 2/1/2029 (USD-SOFR + 2.08% on 2/1/2028) <sup>(e)</sup>  | 515 | 528 |
| Capital One Financial Corp. 6.377% 6/8/2034 (USD-SOFR + 2.86% on 6/8/2033) <sup>(e)</sup>  | 1204 | 1303 |
| Capital One Financial Corp. 6.051% 2/1/2035 (USD-SOFR + 2.26% on 2/1/2034) <sup>(e)</sup>  | 2920 | 3101 |
| Charles Schwab Corp. (The) 5.643% 5/19/2029 (USD-SOFR + 2.21% on 5/19/2028) <sup>(e)</sup>  | 2445 | 2540 |
| China Ping An Insurance Overseas (Holdings), Ltd. 2.85% 8/12/2031  | 526 | 481 |
| Chubb INA Holdings, LLC 3.35% 5/3/2026  | 2020 | 2012 |
| Chubb INA Holdings, LLC 5.00% 3/15/2034  | 4400 | 4514 |
| Chubb INA Holdings, LLC 4.35% 11/3/2045  | 2015 | 1779 |
| Citibank, NA 5.803% 9/29/2028  | 4100 | 4302 |
| Citigroup, Inc. 4.60% 3/9/2026  | 1800 | 1803 |
| Citigroup, Inc. 5.174% 2/13/2030 (USD-SOFR + 1.364% on 2/13/2029) <sup>(e)</sup>  | 7800 | 8003 |
| Citigroup, Inc. 4.542% 9/19/2030 (USD-SOFR + 1.338% on 9/19/2029) <sup>(e)</sup>  | 5103 | 5129 |
| Citigroup, Inc., 4.952% 5/7/2031 (USD-SOFR + 1.463% on 5/7/2030) <sup>(e)</sup>  | 21543 | 21959 |
| Citigroup, Inc. 3.057% 1/25/2033 (USD-SOFR + 1.351% on 1/25/2032) <sup>(e)</sup>  | 990 | 902 |
| Citigroup, Inc. 3.785% 3/17/2033 (USD-SOFR + 1.939% on 3/17/2032) <sup>(e)</sup>  | 3090 | 2937 |
| Citigroup, Inc. 6.02% 1/24/2036 (USD-SOFR + 1.83% on 1/24/2035) <sup>(e)</sup>  | 123 | 129 |
| Citigroup, Inc. 5.333% 3/27/2036 (USD-SOFR + 1.465% on 3/27/2035) <sup>(e)</sup>  | 1874 | 1916 |
| Citizens Financial Group, Inc. 5.841% 1/23/2030 (USD-SOFR + 2.01% on 1/23/2029) <sup>(e)</sup>  | 15346 | 15999 |
| Citizens Financial Group, Inc. 6.645% 4/25/2035 (USD-SOFR + 2.325% on 4/25/2034) <sup>(e)</sup>  | 4518 | 4973 |
| Corebridge Financial, Inc. 3.65% 4/5/2027  | 3913 | 3881 |
| Corebridge Financial, Inc. 3.85% 4/5/2029  | 3534 | 3482 |
| Corebridge Financial, Inc. 3.90% 4/5/2032  | 3964 | 3788 |
| Corebridge Financial, Inc. 4.35% 4/5/2042  | 361 | 312 |
| Credit Agricole SA 1.247% 1/26/2027 (USD-SOFR + 0.892% on 1/26/2026) <sup>(d)(e)</sup>  | 2450 | 2424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Danske Bank AS 1.549% 9/10/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.73% on <br> 9/10/2026) <sup>(d)(e)</sup>  | 2990 | 2914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(d)(e)</sup>  | 2975 | 2978 |
| Deutsche Bank AG 4.10% 1/13/2026  | 7305 | 7298 |
| Deutsche Bank AG 4.10% 1/13/2026  | 857 | 856 |
| Deutsche Bank AG 2.129% 11/24/2026 (USD-SOFR + 1.87% on 11/24/2025) <sup>(e)</sup>  | 27047 | 26949 |
| Deutsche Bank AG 2.552% 1/7/2028 (USD-SOFR + 1.318% on 1/7/2027) <sup>(e)</sup>  | 17595 | 17212 |
| Deutsche Bank AG 4.999% 9/11/2030 (USD-SOFR + 1.70% on 9/11/2029) <sup>(e)</sup>  | 2818 | 2859 |
| Deutsche Bank AG 3.547% 9/18/2031 (USD-SOFR + 3.043% on 9/18/2030) <sup>(e)</sup>  | 6184 | 5864 |
| Deutsche Bank AG 5.403% 9/11/2035 (USD-SOFR + 2.05% on 9/11/2034) <sup>(e)</sup>  | 3200 | 3264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DNB Bank ASA 1.535% 5/25/2027 (5-year UST Yield Curve Rate T Note Constant Maturity + 0.72% on <br>5/25/2026) <sup>(d)(e)</sup>  | 1200 | 1179 |
| Eurobank SA 2.00% 5/5/2027 (1-year EUR Mid-Swap + 2.398% on 5/5/2026) <sup>(e)</sup>  | EUR1,845 | 2159 |
| Eurobank SA 2.25% 3/14/2028 (1-year EUR Mid-Swap + 2.634% on 3/14/2027) <sup>(e)</sup>  | 4230 | 4942 |
| Eurobank SA 7.00% 1/26/2029 (1-year EUR Mid-Swap + 4.418% on 1/26/2028) <sup>(e)</sup>  | 3855 | 4957 |

---

American Funds Insurance Series — Page 190 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Financials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Eurobank SA 5.875% 11/28/2029 (1-year EUR Mid-Swap + 2.83% on 11/28/2028) <sup>(e)</sup>  | EUR12,035 | $15360 |
| Eurobank SA 4.875% 4/30/2031 (5-year EUR Mid-Swap + 2.165% on 4/30/2030) <sup>(e)</sup>  | 390 | 489 |
| Fifth Third Bancorp 6.339% 7/27/2029 (USD-SOFR + 2.34% on 7/27/2028) <sup>(e)</sup>  | USD205 | 216 |
| Fifth Third Bancorp 4.895% 9/6/2030 (USD-SOFR + 1.486% on 9/6/2029) <sup>(e)</sup>  | 1968 | 2000 |
| Fifth Third Bancorp 5.631% 1/29/2032 (USD-SOFR + 1.84% on 1/29/2031) <sup>(e)</sup>  | 11396 | 11951 |
| Five Corners Funding Trust III 5.791% 2/15/2033 <sup>(d)</sup>  | 942 | 997 |
| Goldman Sachs Group, Inc. 1.431% 3/9/2027 (USD-SOFR + 0.795% on 3/9/2026) <sup>(e)</sup>  | 3030 | 2991 |
| Goldman Sachs Group, Inc. 1.542% 9/10/2027 (USD-SOFR + 0.818% on 9/10/2026) <sup>(e)</sup>  | 13275 | 12948 |
| Goldman Sachs Group, Inc. 1.948% 10/21/2027 (USD-SOFR + 0.913% on 10/21/2026) <sup>(e)</sup>  | 12997 | 12693 |
| Goldman Sachs Group, Inc. 2.64% 2/24/2028 (USD-SOFR + 1.114% on 2/24/2027) <sup>(e)</sup>  | 3703 | 3626 |
| Goldman Sachs Group, Inc. 3.615% 3/15/2028 (USD-SOFR + 1.846% on 3/15/2027) <sup>(e)</sup>  | 5534 | 5493 |
| Goldman Sachs Group, Inc. 4.937% 4/23/2028 (USD-SOFR + 1.319% on 4/23/2027) <sup>(e)</sup>  | 4895 | 4953 |
| Goldman Sachs Group, Inc. 5.727% 4/25/2030 (USD-SOFR + 1.265% on 4/25/2029) <sup>(e)</sup>  | 28930 | 30274 |
| Goldman Sachs Group, Inc. 5.049% 7/23/2030 (USD-SOFR + 1.21% on 7/23/2029) <sup>(e)</sup>  | 13759 | 14106 |
| Goldman Sachs Group, Inc. 4.692% 10/23/2030 (USD-SOFR + 1.135% on 10/23/2029) <sup>(e)</sup>  | 2441 | 2473 |
| Goldman Sachs Group, Inc. 5.218% 4/23/2031 (USD-SOFR + 1.58% on 4/23/2030) <sup>(e)</sup>  | 7315 | 7566 |
| Goldman Sachs Group, Inc. 2.908% 7/21/2042 (USD-SOFR + 1.40% on 7/21/2041) <sup>(e)</sup>  | 3160 | 2333 |
| HSBC Holdings PLC 2.206% 8/17/2029 (USD-SOFR + 1.285% on 8/17/2028) <sup>(e)</sup>  | 14232 | 13436 |
| HSBC Holdings PLC 2.871% 11/22/2032 (USD-SOFR + 1.41% on 11/22/2031) <sup>(e)</sup>  | 9437 | 8508 |
| HSBC Holdings PLC 5.45% 3/3/2036 (USD-SOFR + 1.56% on 3/3/2035) <sup>(e)</sup>  | 2000 | 2065 |
| ING Groep NV 6.083% 9/11/2027 (USD-SOFR + 1.56% on 9/11/2026) <sup>(e)</sup>  | 1680 | 1709 |
| Intesa Sanpaolo SpA 5.71% 1/15/2026 <sup>(d)</sup>  | 15400 | 15435 |
| Intesa Sanpaolo SpA 3.875% 7/14/2027 <sup>(d)</sup>  | 6250 | 6213 |
| Intesa Sanpaolo SpA 3.875% 1/12/2028 <sup>(d)</sup>  | 1986 | 1959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA 7.778% 6/20/2054 (1-year UST Yield Curve Rate T Note Constant Maturity + 3.90% on <br> 6/20/2053) <sup>(d)(e)</sup>  | 5100 | 6130 |
| Iron Mountain Information Management Services, Inc. 5.00% 7/15/2032 <sup>(d)</sup>  | 705 | 680 |
| JPMorgan Chase & Co. 1.04% 2/4/2027 (USD-SOFR + 0.695% on 2/4/2026) <sup>(e)</sup>  | 323 | 319 |
| JPMorgan Chase & Co. 6.07% 10/22/2027 (USD-SOFR + 1.33% on 10/22/2026) <sup>(e)</sup>  | 1400 | 1428 |
| JPMorgan Chase & Co. 5.04% 1/23/2028 (USD-SOFR + 1.19% on 1/23/2027) <sup>(e)</sup>  | 20000 | 20230 |
| JPMorgan Chase & Co. 5.571% 4/22/2028 (USD-SOFR + 0.93% on 4/22/2027) <sup>(e)</sup>  | 2678 | 2737 |
| JPMorgan Chase & Co. 4.979% 7/22/2028 (USD-SOFR + 0.93% on 7/22/2027) <sup>(e)</sup>  | 8670 | 8804 |
| JPMorgan Chase & Co. 4.203% 7/23/2029 (3-month USD CME Term SOFR + 1.522% on 7/23/2028) <sup>(e)</sup>  | 11980 | 12006 |
| JPMorgan Chase & Co. 5.581% 4/22/2030 (USD-SOFR + 1.16% on 4/22/2029) <sup>(e)</sup>  | 6480 | 6770 |
| JPMorgan Chase & Co. 4.995% 7/22/2030 (USD-SOFR + 1.125% on 7/22/2029) <sup>(e)</sup>  | 10724 | 11003 |
| JPMorgan Chase & Co. 4.603% 10/22/2030 (USD-SOFR + 1.04% on 10/22/2029) <sup>(e)</sup>  | 6549 | 6627 |
| JPMorgan Chase & Co. 5.14% 1/24/2031 (USD-SOFR + 0.90% on 1/24/2030) <sup>(e)</sup>  | 3870 | 3998 |
| JPMorgan Chase & Co. 5.103% 4/22/2031 (USD-SOFR + 1.435% on 4/22/2030) <sup>(e)</sup>  | 850 | 878 |
| JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031) <sup>(e)</sup>  | 641 | 567 |
| JPMorgan Chase & Co. 2.545% 11/8/2032 (USD-SOFR + 1.18% on 11/8/2031) <sup>(e)</sup>  | 5313 | 4767 |
| JPMorgan Chase & Co. 5.294% 7/22/2035 (USD-SOFR + 1.46% on 7/22/2034) <sup>(e)</sup>  | 19889 | 20550 |
| JPMorgan Chase & Co. 5.572% 4/22/2036 (USD-SOFR + 1.68% on 4/22/2035) <sup>(e)</sup>  | 51163 | 53955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(e)</sup>  | 2415 | 2367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KBC Groep NV 5.796% 1/19/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.10% on <br>1/19/2028) <sup>(d)(e)</sup>  | 1375 | 1421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC 5.985% 8/7/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.48% on <br> 8/7/2026) <sup>(e)</sup>  | 1625 | 1648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC 5.462% 1/5/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.375% on <br> 1/5/2027) <sup>(e)</sup>  | 200 | 203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(e)</sup>  | 1979 | 2075 |
| M&T Bank Corp. 7.413% 10/30/2029 (USD-SOFR + 2.80% on 10/30/2028) <sup>(e)</sup>  | 6528 | 7093 |
| M&T Bank Corp. 6.082% 3/13/2032 (USD-SOFR + 2.26% on 3/13/2031) <sup>(e)</sup>  | 6357 | 6760 |

---

American Funds Insurance Series — Page 191 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Financials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Marsh & McLennan Cos., Inc. 5.00% 3/15/2035  | USD2,285 | $2314 |
| Marsh & McLennan Cos., Inc. 5.35% 11/15/2044  | 250 | 248 |
| Marsh & McLennan Cos., Inc. 5.40% 3/15/2055  | 2060 | 2022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MetLife Capital Trust IV, junior subordinated, 7.875% 12/15/2067 (3-month USD CME Term SOFR + 4.222% on <br> 12/15/2037) <sup>(d)(e)</sup>  | 1405 | 1574 |
| MetLife, Inc. 3.60% 11/13/2025  | 3490 | 3487 |
| MetLife, Inc. 5.375% 7/15/2033  | 1279 | 1348 |
| Metropolitan Life Global Funding I 5.40% 9/12/2028 <sup>(d)</sup>  | 840 | 871 |
| Metropolitan Life Global Funding I 4.85% 1/8/2029 <sup>(d)</sup>  | 2050 | 2094 |
| Metropolitan Life Global Funding I 5.15% 3/28/2033 <sup>(d)</sup>  | 619 | 642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. 1.538% 7/20/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 0.75% on 7/20/2026) <sup>(e)</sup>  | 6200 | 6068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. 1.64% 10/13/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 0.67% on 10/13/2026) <sup>(e)</sup>  | 2225 | 2167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. 5.422% 2/22/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.38% on 2/22/2028) <sup>(e)</sup>  | 1430 | 1471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. 5.133% 7/20/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 2.125% on 7/20/2032) <sup>(e)</sup>  | 763 | 785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. 1.554% 7/9/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.75% on <br> 7/9/2026) <sup>(e)</sup>  | 1367 | 1339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. 5.778% 7/6/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.65% on <br> 7/6/2028) <sup>(e)</sup>  | 1701 | 1773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. 5.376% 5/26/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.12% <br> on 5/26/2029) <sup>(e)</sup>  | 2020 | 2088 |
| Morgan Stanley 1.512% 7/20/2027 (USD-SOFR + 0.858% on 7/20/2026) <sup>(e)</sup>  | 13336 | 13052 |
| Morgan Stanley 4.994% 4/12/2029 (USD-SOFR + 1.38% on 4/12/2028) <sup>(e)</sup>  | 350 | 357 |
| Morgan Stanley 5.164% 4/20/2029 (USD-SOFR + 1.59% on 4/20/2028) <sup>(e)</sup>  | 21869 | 22388 |
| Morgan Stanley 5.656% 4/18/2030 (USD-SOFR + 1.26% on 4/18/2029) <sup>(e)</sup>  | 21784 | 22753 |
| Morgan Stanley 4.654% 10/18/2030 (USD-SOFR + 1.10% on 10/18/2029) <sup>(e)</sup>  | 1704 | 1723 |
| Morgan Stanley 5.192% 4/17/2031 (USD-SOFR + 1.51% on 4/17/2030) <sup>(e)</sup>  | 4664 | 4818 |
| Morgan Stanley 1.794% 2/13/2032 (USD-SOFR + 1.034% on 2/13/2031) <sup>(e)</sup>  | 3031 | 2644 |
| Morgan Stanley 5.424% 7/21/2034 (USD-SOFR + 1.88% on 7/21/2033) <sup>(e)</sup>  | 11313 | 11791 |
| Morgan Stanley 5.32% 7/19/2035 (USD-SOFR + 1.555% on 7/19/2034) <sup>(e)</sup>  | 3069 | 3168 |
| Morgan Stanley 5.664% 4/17/2036 (USD-SOFR + 1.757% on 4/17/2035) <sup>(e)</sup>  | 23571 | 24880 |
| Morgan Stanley Bank, N.A. 5.882% 10/30/2026  | 2775 | 2830 |
| MSCI, Inc. 3.25% 8/15/2033 <sup>(d)</sup>  | 695 | 621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NatWest Group PLC 5.847% 3/2/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.35% on <br> 3/2/2026) <sup>(e)</sup>  | 3555 | 3577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NatWest Group PLC 5.583% 3/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.10% on <br> 3/1/2027) <sup>(e)</sup>  | 2170 | 2211 |
| Northwestern Mutual Life Insurance Co. (The) 4.90% 6/12/2028 <sup>(d)</sup>  | 2090 | 2141 |
| OneMain Finance Corp. 7.125% 3/15/2026  | 87 | 88 |
| Piraeus Bank SA 7.25% 7/13/2028 (1-year EUR Mid-Swap + 3.692% on 7/13/2027) <sup>(e)</sup>  | EUR565 | 717 |
| Piraeus Bank SA 4.625% 7/17/2029 (1-year EUR Mid-Swap + 1.723% on 7/17/2028) <sup>(e)</sup>  | 165 | 203 |
| Piraeus Bank SA 6.75% 12/5/2029 (1-year EUR Mid-Swap + 3.837% on 12/5/2028) <sup>(e)</sup>  | 1345 | 1755 |
| PNC Financial Services Group, Inc. 5.582% 6/12/2029 (USD-SOFR + 1.841% on 6/12/2028) <sup>(e)</sup>  | USD4,594 | 4761 |
| PNC Financial Services Group, Inc. 6.875% 10/20/2034 (USD-SOFR + 2.284% on 10/20/2033) <sup>(e)</sup>  | 12265 | 13900 |
| PNC Financial Services Group, Inc. 5.676% 1/22/2035 (USD-SOFR + 1.902% on 1/22/2034) <sup>(e)</sup>  | 635 | 670 |
| Royal Bank of Canada 4.90% 1/12/2028  | 360 | 368 |
| Royal Bank of Canada 4.95% 2/1/2029  | 1360 | 1398 |
| Santander Holdings USA, Inc. 6.499% 3/9/2029 (USD-SOFR + 2.356% on 3/9/2028) <sup>(e)</sup>  | 5100 | 5322 |
| Santander Holdings USA, Inc. 5.353% 9/6/2030 (USD-SOFR + 1.94% on 9/6/2029) <sup>(e)</sup>  | 3706 | 3781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Standard Chartered PLC 5.905% 5/14/2035 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.45% on <br> 5/14/2034) <sup>(d)(e)</sup>  | 546 | 577 |

---

American Funds Insurance Series — Page 192 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Financials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| State Street Corp. 4.164% 8/4/2033 (USD-SOFR + 1.726% on 8/4/2032) <sup>(e)</sup>  | USD1,640 | $1601 |
| State Street Corp. 5.159% 5/18/2034 (USD-SOFR + 1.89% on 5/18/2033) <sup>(e)</sup>  | 2579 | 2673 |
| Sumitomo Mitsui Financial Group, Inc. 5.88% 7/13/2026  | 1429 | 1450 |
| Sumitomo Mitsui Financial Group, Inc. 2.174% 1/14/2027  | 1100 | 1075 |
| Sumitomo Mitsui Financial Group, Inc. 5.80% 7/13/2028  | 1045 | 1093 |
| Sumitomo Mitsui Financial Group, Inc. 5.766% 1/13/2033  | 373 | 399 |
| Sumitomo Mitsui Trust Bank, Ltd. 5.55% 9/14/2028 <sup>(d)</sup>  | 1400 | 1455 |
| Swedbank AB 6.136% 9/12/2026 <sup>(d)</sup>  | 2100 | 2140 |
| Truist Financial Corp. 6.047% 6/8/2027 (USD-SOFR + 2.05% on 6/8/2026) <sup>(e)</sup>  | 1370 | 1386 |
| Truist Financial Corp. 4.873% 1/26/2029 (USD-SOFR + 1.435% on 1/26/2028) <sup>(e)</sup>  | 2605 | 2645 |
| Truist Financial Corp. 7.161% 10/30/2029 (USD-SOFR + 2.446% on 10/30/2028) <sup>(e)</sup>  | 2396 | 2596 |
| Truist Financial Corp. 5.435% 1/24/2030 (USD-SOFR + 1.62% on 1/24/2029) <sup>(e)</sup>  | 1741 | 1802 |
| Truist Financial Corp. 5.153% 8/5/2032 (USD-SOFR + 1.571% on 8/5/2031) <sup>(e)</sup>  | 4707 | 4846 |
| Truist Financial Corp. 5.867% 6/8/2034 (USD-SOFR + 2.361% on 6/8/2033) <sup>(e)</sup>  | 1586 | 1681 |
| Truist Financial Corp. 5.711% 1/24/2035 (USD-SOFR + 1.922% on 1/24/2034) <sup>(e)</sup>  | 2440 | 2561 |
| U.S. Bancorp 4.653% 2/1/2029 (USD-SOFR + 1.23% on 2/1/2028) <sup>(e)</sup>  | 2115 | 2139 |
| U.S. Bancorp 5.384% 1/23/2030 (USD-SOFR + 1.56% on 1/23/2029) <sup>(e)</sup>  | 7300 | 7549 |
| U.S. Bancorp 4.839% 2/1/2034 (USD-SOFR + 1.60% on 2/1/2033) <sup>(e)</sup>  | 2839 | 2852 |
| U.S. Bancorp 5.836% 6/12/2034 (USD-SOFR + 2.26% on 6/10/2033) <sup>(e)</sup>  | 1712 | 1825 |
| UBS AG 7.50% 2/15/2028  | 2445 | 2633 |
| UBS Group AG 1.305% 2/2/2027 (USD-SOFR + 0.98% on 2/2/2026) <sup>(d)(e)</sup>  | 11200 | 11089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG 1.494% 8/10/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on <br>8/10/2026) <sup>(d)(e)</sup>  | 6623 | 6468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG 5.428% 2/8/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.52% on <br>2/8/2029) <sup>(d)(e)</sup>  | 17490 | 18074 |
| UBS Group AG 5.617% 9/13/2030 (1-year USD-ICE SOFR Swap + 1.34% on 9/13/2029) <sup>(d)(e)</sup>  | 14459 | 15105 |
| UBS Group AG 4.194% 4/1/2031 (USD-SOFR + 3.73% on 4/1/2030) <sup>(d)(e)</sup>  | 9636 | 9529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(d)(e)</sup>  | 1392 | 1229 |
| UBS Group AG 3.091% 5/14/2032 (USD-SOFR + 1.73% on 5/14/2031) <sup>(d)(e)</sup>  | 20425 | 18905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UBS Group AG 2.746% 2/11/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.10% on <br>2/11/2032) <sup>(d)(e)</sup>  | 4038 | 3602 |
| UBS Group AG 9.016% 11/15/2033 (USD-SOFR + 5.02% on 11/15/2032) <sup>(d)(e)</sup>  | 5000 | 6267 |
| UniCredit SpA 4.625% 4/12/2027 <sup>(d)</sup>  | 1395 | 1401 |
| Vigorous Champion International, Ltd. 4.25% 5/28/2029  | 462 | 461 |
| Wells Fargo & Co. 3.526% 3/24/2028 (USD-SOFR + 1.51% on 3/24/2027) <sup>(e)</sup>  | 6615 | 6557 |
| Wells Fargo & Co. 5.707% 4/22/2028 (USD-SOFR + 1.07% on 4/22/2027) <sup>(e)</sup>  | 11151 | 11413 |
| Wells Fargo & Co. 2.393% 6/2/2028 (USD-SOFR + 2.10% on 6/2/2027) <sup>(e)</sup>  | 1003 | 975 |
| Wells Fargo & Co. 4.808% 7/25/2028 (USD-SOFR + 1.98% on 7/25/2027) <sup>(e)</sup>  | 8357 | 8458 |
| Wells Fargo & Co. 5.574% 7/25/2029 (USD-SOFR + 1.74% on 7/25/2028) <sup>(e)</sup>  | 2545 | 2638 |
| Wells Fargo & Co. 5.15% 4/23/2031 (USD-SOFR + 1.50% on 4/23/2030) <sup>(e)</sup>  | 7187 | 7414 |
| Wells Fargo & Co. 5.389% 4/24/2034 (USD-SOFR + 2.02% on 4/24/2033) <sup>(e)</sup>  | 6025 | 6262 |
| Wells Fargo & Co. 6.491% 10/23/2034 (USD-SOFR + 2.06% on 10/23/2033) <sup>(e)</sup>  | 4062 | 4515 |
| Wells Fargo & Co. 4.611% 4/25/2053 (USD-SOFR + 2.13% on 4/25/2052) <sup>(e)</sup>  | 5719 | 5028 |
|  |  | 1205898 |
| **Health care 4.10%** |  |  |
| AbbVie, Inc. 5.05% 3/15/2034  | 18501 | 19044 |
| AbbVie, Inc. 5.35% 3/15/2044  | 800 | 805 |
| AbbVie, Inc. 5.40% 3/15/2054  | 15770 | 15692 |
| AbbVie, Inc. 5.50% 3/15/2064  | 550 | 550 |
| Amgen, Inc. 5.15% 3/2/2028  | 5326 | 5451 |
| Amgen, Inc. 4.05% 8/18/2029  | 7429 | 7402 |
| Amgen, Inc. 2.45% 2/21/2030  | 5131 | 4754 |

---

American Funds Insurance Series — Page 193 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Health care (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Amgen, Inc. 5.25% 3/2/2030  | USD2,854 | $2959 |
| Amgen, Inc. 4.20% 3/1/2033  | 8502 | 8272 |
| Amgen, Inc. 5.25% 3/2/2033  | 20793 | 21545 |
| Amgen, Inc. 4.875% 3/1/2053  | 3360 | 2999 |
| Amgen, Inc. 4.40% 2/22/2062  | 196 | 157 |
| AstraZeneca Finance, LLC 5.00% 2/26/2034  | 6925 | 7145 |
| Baxter International, Inc. 2.539% 2/1/2032  | 3906 | 3425 |
| Bristol-Myers Squibb Co. 4.90% 2/22/2029  | 2625 | 2696 |
| Bristol-Myers Squibb Co. 5.10% 2/22/2031  | 3990 | 4150 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 22685 | 23533 |
| Bristol-Myers Squibb Co. 5.50% 2/22/2044  | 425 | 430 |
| Bristol-Myers Squibb Co. 2.55% 11/13/2050  | 2113 | 1270 |
| Bristol-Myers Squibb Co. 3.70% 3/15/2052  | 2197 | 1641 |
| Bristol-Myers Squibb Co. 6.25% 11/15/2053  | 1740 | 1901 |
| Bristol-Myers Squibb Co. 5.55% 2/22/2054  | 12840 | 12806 |
| Centene Corp. 4.25% 12/15/2027  | 14860 | 14605 |
| Centene Corp. 2.45% 7/15/2028  | 12410 | 11542 |
| Centene Corp. 4.625% 12/15/2029  | 14945 | 14500 |
| Centene Corp. 3.375% 2/15/2030  | 15718 | 14469 |
| Cigna Group (The) 5.125% 5/15/2031  | 2095 | 2170 |
| Cigna Group (The) 5.25% 2/15/2034  | 3745 | 3856 |
| Cigna Group (The) 6.00% 1/15/2056  | 1600 | 1661 |
| CVS Health Corp. 5.125% 2/21/2030  | 1720 | 1764 |
| CVS Health Corp. 5.25% 1/30/2031  | 960 | 988 |
| CVS Health Corp. 5.55% 6/1/2031  | 3707 | 3879 |
| CVS Health Corp. 5.00% 9/15/2032  | 5853 | 5927 |
| CVS Health Corp. 5.25% 2/21/2033  | 2122 | 2172 |
| CVS Health Corp. 5.70% 6/1/2034  | 7706 | 8045 |
| CVS Health Corp. 5.45% 9/15/2035  | 4471 | 4552 |
| CVS Health Corp. 6.05% 6/1/2054  | 1995 | 2019 |
| CVS Health Corp. 6.20% 9/15/2055  | 6535 | 6731 |
| CVS Health Corp. 6.00% 6/1/2063  | 1076 | 1061 |
| Elevance Health, Inc. 4.95% 11/1/2031  | 2322 | 2365 |
| Elevance Health, Inc. 5.20% 2/15/2035  | 7577 | 7726 |
| Elevance Health, Inc. 4.55% 5/15/2052  | 271 | 227 |
| Elevance Health, Inc. 5.125% 2/15/2053  | 784 | 717 |
| Elevance Health, Inc. 5.70% 2/15/2055  | 995 | 985 |
| Eli Lilly and Co. 5.10% 2/12/2035  | 23057 | 23863 |
| Eli Lilly and Co. 5.50% 2/12/2055  | 7907 | 8082 |
| Gilead Sciences, Inc. 5.25% 10/15/2033  | 3340 | 3504 |
| HCA, Inc. 5.20% 6/1/2028  | 4165 | 4266 |
| HCA, Inc. 2.375% 7/15/2031  | 2233 | 1982 |
| HCA, Inc. 3.625% 3/15/2032  | 2400 | 2252 |
| HCA, Inc. 4.625% 3/15/2052  | 226 | 187 |
| Humana, Inc. 5.375% 4/15/2031  | 5530 | 5690 |
| Humana, Inc. 5.55% 5/1/2035  | 1735 | 1769 |
| Humana, Inc. 5.75% 4/15/2054  | 954 | 911 |
| Johnson & Johnson 4.80% 6/1/2029  | 3970 | 4095 |
| Johnson & Johnson 4.90% 6/1/2031  | 4175 | 4354 |
| Merck & Co., Inc. 1.70% 6/10/2027  | 3093 | 2989 |
| Pfizer Investment Enterprises Pte., Ltd. 4.45% 5/19/2028  | 1375 | 1391 |
| Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033  | 7942 | 8026 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 5622 | 5437 |
| Roche Holdings, Inc. 1.93% 12/13/2028 <sup>(d)</sup>  | 7545 | 7094 |

---

American Funds Insurance Series — Page 194 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Health care (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Roche Holdings, Inc. 4.592% 9/9/2034 <sup>(d)</sup>  | USD765 | $765 |
| Roche Holdings, Inc. 2.607% 12/13/2051 <sup>(d)</sup>  | 645 | 401 |
| Shire Acquisitions Investments Ireland DAC 3.20% 9/23/2026  | 306 | 304 |
| Stryker Corp. 4.85% 2/10/2030  | 1235 | 1266 |
| Stryker Corp. 5.20% 2/10/2035  | 1110 | 1145 |
| Takeda U.S. Financing, Inc. 5.20% 7/7/2035  | 12074 | 12277 |
| Teva Pharmaceutical Finance Netherlands III BV 6.75% 3/1/2028  | 26824 | 27868 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 4431 | 4459 |
| Teva Pharmaceutical Finance Netherlands III BV 7.875% 9/15/2029  | 3720 | 4064 |
| Teva Pharmaceutical Finance Netherlands III BV 8.125% 9/15/2031  | 2935 | 3359 |
| Teva Pharmaceutical Finance Netherlands III BV 6.00% 12/1/2032  | 725 | 756 |
| Teva Pharmaceutical Finance Netherlands III BV 4.10% 10/1/2046  | 36946 | 27605 |
| UnitedHealth Group, Inc. 4.80% 1/15/2030  | 395 | 404 |
| UnitedHealth Group, Inc. 2.00% 5/15/2030  | 466 | 423 |
| UnitedHealth Group, Inc. 4.95% 1/15/2032  | 1910 | 1958 |
| UnitedHealth Group, Inc. 4.20% 5/15/2032  | 1654 | 1631 |
| UnitedHealth Group, Inc. 5.15% 7/15/2034  | 15956 | 16382 |
| UnitedHealth Group, Inc. 3.05% 5/15/2041  | 1300 | 989 |
| UnitedHealth Group, Inc. 4.25% 6/15/2048  | 960 | 795 |
| UnitedHealth Group, Inc. 3.25% 5/15/2051  | 572 | 390 |
| UnitedHealth Group, Inc. 5.625% 7/15/2054  | 10472 | 10423 |
| UnitedHealth Group, Inc. 4.95% 5/15/2062  | 69 | 61 |
| Viatris, Inc. 4.00% 6/22/2050  | 3750 | 2560 |
|  |  | 466765 |
| **Consumer discretionary 3.77%** |  |  |
| Advance Auto Parts, Inc. 7.375% 8/1/2033 <sup>(d)</sup>  | 3110 | 3210 |
| Allied Universal Holdco, LLC 4.625% 6/1/2028 <sup>(d)</sup>  | 335 | 329 |
| Amazon.com, Inc. 1.65% 5/12/2028  | 3860 | 3657 |
| Amazon.com, Inc. 3.45% 4/13/2029  | 600 | 592 |
| Amazon.com, Inc. 3.25% 5/12/2061  | 4100 | 2745 |
| Amazon.com, Inc. 4.10% 4/13/2062  | 470 | 379 |
| Atlas LuxCo 4 SARL 4.625% 6/1/2028 <sup>(d)</sup>  | 255 | 250 |
| Bath & Body Works, Inc. 6.875% 11/1/2035  | 14740 | 15355 |
| BMW US Capital, LLC 3.45% 4/1/2027 <sup>(d)</sup>  | 1075 | 1065 |
| BMW US Capital, LLC 3.70% 4/1/2032 <sup>(d)</sup>  | 1350 | 1282 |
| Carnival Corp. 5.125% 5/1/2029 <sup>(d)</sup>  | 2085 | 2085 |
| Carnival Corp. 5.75% 8/1/2032 <sup>(d)</sup>  | 5880 | 5991 |
| Carnival Corp. 6.125% 2/15/2033 <sup>(d)</sup>  | 4115 | 4221 |
| Daimler Trucks Finance North America, LLC 5.00% 1/15/2027 <sup>(d)</sup>  | 794 | 803 |
| Daimler Trucks Finance North America, LLC 3.65% 4/7/2027 <sup>(d)</sup>  | 3567 | 3539 |
| Daimler Trucks Finance North America, LLC 5.125% 9/25/2027 <sup>(d)</sup>  | 1320 | 1342 |
| Daimler Trucks Finance North America, LLC 5.40% 9/20/2028 <sup>(d)</sup>  | 832 | 859 |
| Daimler Trucks Finance North America, LLC 2.375% 12/14/2028 <sup>(d)</sup>  | 3230 | 3045 |
| Daimler Trucks Finance North America, LLC 5.25% 1/13/2030 <sup>(d)</sup>  | 565 | 581 |
| Daimler Trucks Finance North America, LLC 2.50% 12/14/2031 <sup>(d)</sup>  | 8174 | 7243 |
| Daimler Trucks Finance North America, LLC 5.375% 1/13/2032 <sup>(d)</sup>  | 430 | 442 |
| Daimler Trucks Finance North America, LLC 5.50% 9/20/2033 <sup>(d)</sup>  | 691 | 715 |
| Daimler Trucks Finance North America, LLC 5.375% 1/18/2034 <sup>(d)</sup>  | 246 | 251 |
| Daimler Trucks Finance North America, LLC 5.625% 1/13/2035 <sup>(d)</sup>  | 3395 | 3509 |
| Ford Motor Co. 3.25% 2/12/2032  | 620 | 543 |
| Ford Motor Credit Co., LLC 6.95% 3/6/2026  | 855 | 862 |
| Ford Motor Credit Co., LLC 6.95% 6/10/2026  | 755 | 765 |
| Ford Motor Credit Co., LLC 5.125% 11/5/2026  | 4795 | 4812 |

---

American Funds Insurance Series — Page 195 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Consumer discretionary (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Ford Motor Credit Co., LLC 4.271% 1/9/2027  | USD13,882 | $13773 |
| Ford Motor Credit Co., LLC 5.80% 3/5/2027  | 3145 | 3178 |
| Ford Motor Credit Co., LLC 5.85% 5/17/2027  | 1940 | 1965 |
| Ford Motor Credit Co., LLC 4.125% 8/17/2027  | 37170 | 36569 |
| Ford Motor Credit Co., LLC 3.815% 11/2/2027  | 3990 | 3893 |
| Ford Motor Credit Co., LLC 7.35% 11/4/2027  | 7549 | 7875 |
| Ford Motor Credit Co., LLC 5.918% 3/20/2028  | 24035 | 24451 |
| Ford Motor Credit Co., LLC 6.80% 5/12/2028  | 2030 | 2109 |
| Ford Motor Credit Co., LLC 6.798% 11/7/2028  | 762 | 796 |
| Ford Motor Credit Co., LLC 2.90% 2/10/2029  | 1065 | 987 |
| Ford Motor Credit Co., LLC 5.80% 3/8/2029  | 6740 | 6841 |
| Ford Motor Credit Co., LLC 5.113% 5/3/2029  | 9854 | 9783 |
| Ford Motor Credit Co., LLC 5.303% 9/6/2029  | 5407 | 5395 |
| Ford Motor Credit Co., LLC 7.35% 3/6/2030  | 10668 | 11422 |
| Ford Motor Credit Co., LLC 7.20% 6/10/2030  | 1015 | 1086 |
| Ford Motor Credit Co., LLC 4.00% 11/13/2030  | 5160 | 4815 |
| Ford Motor Credit Co., LLC 6.05% 3/5/2031  | 12074 | 12357 |
| Ford Motor Credit Co., LLC 3.625% 6/17/2031  | 3037 | 2763 |
| Ford Motor Credit Co., LLC 6.054% 11/5/2031  | 19460 | 19897 |
| Ford Motor Credit Co., LLC 7.122% 11/7/2033  | 688 | 736 |
| General Motors Financial Co., Inc. 1.50% 6/10/2026  | 6712 | 6587 |
| General Motors Financial Co., Inc. 2.35% 2/26/2027  | 9771 | 9522 |
| General Motors Financial Co., Inc. 5.45% 7/15/2030  | 8013 | 8257 |
| General Motors Financial Co., Inc. 5.625% 4/4/2032  | 1201 | 1240 |
| General Motors Financial Co., Inc. 5.90% 1/7/2035  | 2888 | 2981 |
| Hanesbrands, Inc. 9.00% 2/15/2031 <sup>(d)</sup>  | 528 | 560 |
| Home Depot, Inc. 2.95% 6/15/2029  | 1966 | 1897 |
| Home Depot, Inc. 4.85% 6/25/2031  | 2559 | 2642 |
| Home Depot, Inc. 4.95% 6/25/2034  | 4749 | 4865 |
| Home Depot, Inc. 4.50% 12/6/2048  | 1915 | 1684 |
| Home Depot, Inc. 5.30% 6/25/2054  | 2234 | 2188 |
| Hyatt Hotels Corp. 5.05% 3/30/2028  | 8567 | 8708 |
| Hyundai Capital America 1.80% 10/15/2025 <sup>(d)</sup>  | 13274 | 13260 |
| Hyundai Capital America 6.25% 11/3/2025 <sup>(d)</sup>  | 825 | 826 |
| Hyundai Capital America 1.30% 1/8/2026 <sup>(d)</sup>  | 6000 | 5952 |
| Hyundai Capital America 5.50% 3/30/2026 <sup>(d)</sup>  | 705 | 709 |
| Hyundai Capital America 1.50% 6/15/2026 <sup>(d)</sup>  | 7475 | 7334 |
| Hyundai Capital America 1.65% 9/17/2026 <sup>(d)</sup>  | 7275 | 7099 |
| Hyundai Capital America 3.00% 2/10/2027 <sup>(d)</sup>  | 9000 | 8848 |
| Hyundai Capital America 5.275% 6/24/2027 <sup>(d)</sup>  | 1650 | 1676 |
| Hyundai Capital America 2.375% 10/15/2027 <sup>(d)</sup>  | 7543 | 7261 |
| Hyundai Capital America 5.60% 3/30/2028 <sup>(d)</sup>  | 1385 | 1425 |
| Hyundai Capital America 5.30% 6/24/2029 <sup>(d)</sup>  | 1523 | 1563 |
| Hyundai Capital America 5.15% 3/27/2030 <sup>(d)</sup>  | 25720 | 26265 |
| Hyundai Capital America 5.40% 6/24/2031 <sup>(d)</sup>  | 3365 | 3467 |
| Hyundai Capital Services, Inc. 1.25% 2/8/2026 <sup>(d)</sup>  | 3695 | 3655 |
| Marriott International, Inc. 5.00% 10/15/2027  | 4470 | 4549 |
| Marriott International, Inc. 4.90% 4/15/2029  | 653 | 667 |
| Marriott International, Inc. 5.35% 3/15/2035  | 1365 | 1397 |
| McDonald's Corp. 5.00% 5/17/2029  | 1305 | 1344 |
| McDonald's Corp. 4.95% 3/3/2035  | 786 | 797 |
| McDonald's Corp. 4.45% 3/1/2047  | 3535 | 3072 |
| McDonald's Corp. 3.625% 9/1/2049  | 2938 | 2203 |
| Nissan Motor Co., Ltd. 4.81% 9/17/2030 <sup>(d)</sup>  | 267 | 252 |

---

American Funds Insurance Series — Page 196 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Consumer discretionary (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Nissan Motor Co., Ltd. 8.125% 7/17/2035 <sup>(d)</sup>  | USD8,000 | $8593 |
| Royal Caribbean Cruises, Ltd. 5.375% 1/15/2036  | 6701 | 6743 |
| Sands China, Ltd. 2.30% 3/8/2027  | 2368 | 2301 |
| Toyota Motor Credit Corp. 3.375% 4/1/2030  | 4954 | 4799 |
| Toyota Motor Credit Corp. 4.55% 5/17/2030  | 1625 | 1652 |
| Toyota Motor Credit Corp. 5.55% 11/20/2030  | 690 | 731 |
| Travel + Leisure Co. 6.625% 7/31/2026 <sup>(d)</sup>  | 675 | 680 |
| Volkswagen Group of America Finance, LLC 4.95% 8/15/2029 <sup>(d)</sup>  | 1635 | 1652 |
| Volkswagen Group of America Finance, LLC 6.45% 11/16/2030 <sup>(d)</sup>  | 5190 | 5577 |
| Wynn Resorts Finance, LLC 5.125% 10/1/2029 <sup>(d)</sup>  | 410 | 412 |
|  |  | 429055 |
| **Utilities 3.66%** |  |  |
| AEP Texas, Inc. 3.45% 5/15/2051  | 1380 | 955 |
| AEP Transmission Co., LLC 5.375% 6/15/2035  | 1075 | 1113 |
| Alabama Power Co. 3.00% 3/15/2052  | 3219 | 2136 |
| Alfa Transmisora De Energia SA 4.55% 9/27/2051 <sup>(d)</sup>  | 410 | 328 |
| Baltimore Gas and Electric Co. 4.55% 6/1/2052  | 525 | 456 |
| Berkshire Hathaway Energy Co. 4.50% 2/1/2045  | 5895 | 5227 |
| Berkshire Hathaway Energy Co. 4.60% 5/1/2053  | 1017 | 876 |
| Cleveland Electric Illuminating Co. (The) 3.50% 4/1/2028 <sup>(d)</sup>  | 2400 | 2359 |
| Comision Federal de Electricidad 4.688% 5/15/2029 <sup>(d)</sup>  | 3655 | 3604 |
| Connecticut Light and Power Co. (The) 2.05% 7/1/2031  | 1775 | 1570 |
| DTE Energy Co. 5.10% 3/1/2029  | 7900 | 8098 |
| DTE Energy Co. 3.00% 3/1/2032  | 259 | 240 |
| Duke Energy Carolinas, LLC 5.35% 1/15/2053  | 332 | 326 |
| Duke Energy Florida, LLC 5.875% 11/15/2033  | 370 | 400 |
| Duke Energy Florida, LLC 3.40% 10/1/2046  | 5669 | 4217 |
| Duke Energy Florida, LLC 3.00% 12/15/2051  | 293 | 192 |
| Duke Energy Florida, LLC 5.95% 11/15/2052  | 575 | 607 |
| Duke Energy Progress, LLC 3.70% 9/1/2028  | 3750 | 3723 |
| Duke Energy Progress, LLC 2.00% 8/15/2031  | 1775 | 1562 |
| Duke Energy Progress, LLC 2.50% 8/15/2050  | 644 | 388 |
| Edison International 4.125% 3/15/2028  | 6768 | 6646 |
| Edison International 6.95% 11/15/2029  | 1575 | 1672 |
| Electricite de France SA 5.65% 4/22/2029 <sup>(d)</sup>  | 1420 | 1482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electricite de France SA 2.625% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 2.86% on <br> 6/1/2028) <sup>(e)</sup>  | EUR2,800 | 3206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(d)(e)</sup>  | USD1,575 | 1827 |
| Emera US Finance, LP 2.639% 6/15/2031  | 4400 | 3931 |
| ENN Clean Energy International Investment, Ltd. 3.375% 5/12/2026 <sup>(d)</sup>  | 1310 | 1300 |
| Entergy Louisiana, LLC 4.20% 9/1/2048  | 5637 | 4644 |
| Eversource Energy 5.00% 1/1/2027  | 3415 | 3450 |
| FirstEnergy Corp. 1.60% 1/15/2026  | 20066 | 19892 |
| FirstEnergy Corp. 2.25% 9/1/2030  | 12602 | 11331 |
| Florida Power & Light Co. 4.40% 5/15/2028  | 1655 | 1674 |
| Florida Power & Light Co. 5.10% 4/1/2033  | 7431 | 7694 |
| Florida Power & Light Co. 4.80% 5/15/2033  | 2929 | 2982 |
| Florida Power & Light Co. 5.30% 4/1/2053  | 1255 | 1236 |
| Georgia Power Co. 4.95% 5/17/2033  | 1845 | 1883 |
| Georgia Power Co. 5.25% 3/15/2034  | 3200 | 3302 |
| Georgia Power Co. 3.70% 1/30/2050  | 190 | 145 |
| Jersey Central Power & Light Co. 2.75% 3/1/2032 <sup>(d)</sup>  | 525 | 470 |

---

American Funds Insurance Series — Page 197 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Utilities (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| NiSource, Inc. 5.40% 6/30/2033  | USD650 | $674 |
| Pacific Gas and Electric Co. 3.15% 1/1/2026  | 27543 | 27457 |
| Pacific Gas and Electric Co. 2.95% 3/1/2026  | 10850 | 10777 |
| Pacific Gas and Electric Co. 2.10% 8/1/2027  | 2026 | 1948 |
| Pacific Gas and Electric Co. 3.30% 12/1/2027  | 7105 | 6955 |
| Pacific Gas and Electric Co. 3.00% 6/15/2028  | 2542 | 2452 |
| Pacific Gas and Electric Co. 3.75% 7/1/2028  | 13760 | 13519 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 7900 | 7924 |
| Pacific Gas and Electric Co. 4.55% 7/1/2030  | 35449 | 35217 |
| Pacific Gas and Electric Co. 2.50% 2/1/2031  | 21597 | 19250 |
| Pacific Gas and Electric Co. 6.40% 6/15/2033  | 11619 | 12495 |
| Pacific Gas and Electric Co. 6.95% 3/15/2034  | 1294 | 1437 |
| Pacific Gas and Electric Co. 5.80% 5/15/2034  | 3581 | 3713 |
| Pacific Gas and Electric Co. 5.70% 3/1/2035  | 10283 | 10541 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040  | 10340 | 7842 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | 15807 | 10800 |
| Pacific Gas and Electric Co. 5.90% 10/1/2054  | 2410 | 2352 |
| PacifiCorp 3.30% 3/15/2051  | 325 | 215 |
| PacifiCorp 2.90% 6/15/2052  | 586 | 358 |
| PacifiCorp 5.80% 1/15/2055  | 7735 | 7588 |
| PECO Energy Co. 5.25% 9/15/2054  | 1775 | 1721 |
| Public Service Electric and Gas Co. 3.20% 5/15/2029  | 6000 | 5818 |
| Public Service Electric and Gas Co. 5.20% 8/1/2033  | 1200 | 1247 |
| Public Service Electric and Gas Co. 5.50% 3/1/2055  | 1503 | 1512 |
| Southern California Edison Co. 4.90% 6/1/2026  | 1177 | 1181 |
| Southern California Edison Co. 3.65% 3/1/2028  | 225 | 221 |
| Southern California Edison Co. 5.30% 3/1/2028  | 3601 | 3666 |
| Southern California Edison Co. 4.20% 3/1/2029  | 7286 | 7196 |
| Southern California Edison Co. 2.85% 8/1/2029  | 7498 | 7027 |
| Southern California Edison Co. 5.25% 3/15/2030  | 19378 | 19766 |
| Southern California Edison Co. 2.50% 6/1/2031  | 5044 | 4477 |
| Southern California Edison Co. 5.45% 6/1/2031  | 8795 | 9064 |
| Southern California Edison Co. 5.20% 6/1/2034  | 5196 | 5169 |
| Southern California Edison Co. 5.45% 3/1/2035  | 1845 | 1868 |
| Southern California Edison Co. 5.75% 4/1/2035  | 4549 | 4698 |
| Southern California Edison Co. 5.35% 7/15/2035  | 6450 | 6483 |
| Southern California Edison Co. 5.625% 2/1/2036  | 7051 | 7123 |
| Southern California Edison Co. 3.60% 2/1/2045  | 2417 | 1769 |
| Southern California Edison Co. 2.95% 2/1/2051  | 706 | 432 |
| Southern California Edison Co. 3.65% 6/1/2051  | 29 | 20 |
| Southern California Edison Co. 5.90% 3/1/2055  | 1661 | 1614 |
| Southwestern Electric Power Co. 1.65% 3/15/2026  | 3550 | 3509 |
| Southwestern Electric Power Co. 3.25% 11/1/2051  | 2075 | 1385 |
| Virginia Electric & Power 2.40% 3/30/2032  | 2575 | 2276 |
| Wisconsin Power and Light Co. 1.95% 9/16/2031  | 525 | 454 |
| Wisconsin Power and Light Co. 3.65% 4/1/2050  | 1075 | 791 |
| Wisconsin Public Service Corp. 2.85% 12/1/2051  | 375 | 238 |
| Xcel Energy, Inc. 4.75% 3/21/2028  | 7808 | 7907 |
| Xcel Energy, Inc. 5.50% 3/15/2034  | 4230 | 4368 |
| Xcel Energy, Inc. 5.60% 4/15/2035  | 3731 | 3871 |
|  |  | 417529 |

---

American Funds Insurance Series — Page 198 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Energy 2.38%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Antero Resources Corp. 5.375% 3/1/2030 <sup>(d)</sup>  | USD280 | $282 |
| APA Corp. 4.25% 1/15/2030  | 2465 | 2388 |
| Ascent Resources Utica Holdings, LLC 6.625% 7/15/2033 <sup>(d)</sup>  | 395 | 402 |
| Baker Hughes Holdings, LLC 2.061% 12/15/2026  | 1136 | 1109 |
| Cenovus Energy, Inc. 4.25% 4/15/2027  | 13613 | 13619 |
| Cenovus Energy, Inc. 2.65% 1/15/2032  | 2969 | 2628 |
| Cenovus Energy, Inc. 5.25% 6/15/2037  | 289 | 282 |
| Cenovus Energy, Inc. 3.75% 2/15/2052  | 19 | 14 |
| Chevron Corp. 2.954% 5/16/2026  | 3365 | 3344 |
| Civitas Resources, Inc. 8.75% 7/1/2031 <sup>(d)</sup>  | 22400 | 22977 |
| Columbia Pipelines Operating Co., LLC 5.927% 8/15/2030 <sup>(d)</sup>  | 268 | 284 |
| Devon Energy Corp. 5.75% 9/15/2054  | 2068 | 1920 |
| Diamondback Energy, Inc. 5.55% 4/1/2035  | 9020 | 9264 |
| Ecopetrol SA 8.875% 1/13/2033  | 15325 | 16622 |
| Energy Transfer, LP 5.25% 7/1/2029  | 979 | 1008 |
| Energy Transfer, LP 6.40% 12/1/2030  | 479 | 519 |
| Enterprise Products Operating, LLC 4.95% 2/15/2035  | 1465 | 1478 |
| EOG Resources, Inc. 5.95% 7/15/2055  | 5080 | 5323 |
| Equinor ASA 3.625% 9/10/2028  | 4928 | 4889 |
| Equinor ASA 3.125% 4/6/2030  | 20000 | 19173 |
| Equinor ASA 3.25% 11/18/2049  | 5687 | 4090 |
| Exxon Mobil Corp. 3.043% 3/1/2026  | 4625 | 4608 |
| Exxon Mobil Corp. 3.452% 4/15/2051  | 6510 | 4775 |
| GreenSaif Pipelines Bidco SARL 5.853% 2/23/2036 <sup>(d)</sup>  | 11320 | 11897 |
| Hess Midstream Operations, LP 5.875% 3/1/2028 <sup>(d)</sup>  | 1470 | 1499 |
| Occidental Petroleum Corp. 6.625% 9/1/2030  | 5120 | 5490 |
| Occidental Petroleum Corp. 5.55% 10/1/2034  | 5200 | 5279 |
| Odebrecht Drilling Services, LLC 7.50% 6/15/2030 <sup>(d)</sup>  | 6 | 6 |
| Oleoducto Central SA 4.00% 7/14/2027 <sup>(d)</sup>  | 1715 | 1688 |
| Oleoducto Central SA 4.00% 7/14/2027  | 350 | 344 |
| Petroleos Mexicanos 6.875% 10/16/2025  | 5000 | 4997 |
| Petroleos Mexicanos 4.50% 1/23/2026  | 1158 | 1152 |
| Petroleos Mexicanos 6.875% 8/4/2026  | 2965 | 3006 |
| Petroleos Mexicanos 6.49% 1/23/2027  | 20653 | 20878 |
| Petroleos Mexicanos 6.50% 3/13/2027  | 35154 | 35617 |
| Petroleos Mexicanos 6.50% 1/23/2029  | 22614 | 23015 |
| Petroleos Mexicanos 8.75% 6/2/2029  | 14185 | 15289 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 11164 | 11363 |
| Shell Finance US, Inc. 2.75% 4/6/2030  | 377 | 356 |
| South Bow USA Infrastructure Holdings, LLC 4.911% 9/1/2027  | 809 | 816 |
| Sunoco, LP 5.625% 3/15/2031 <sup>(d)</sup>  | 595 | 591 |
| TotalEnergies Capital International SA 3.455% 2/19/2029  | 885 | 869 |
| TotalEnergies Capital SA 5.275% 9/10/2054  | 6805 | 6544 |
|  |  | 271694 |
| **Industrials 1.82%** |  |  |
| ADT Security Corp. 4.125% 8/1/2029 <sup>(d)</sup>  | 510 | 494 |
| Air Lease Corp. 2.875% 1/15/2026  | 10172 | 10128 |
| Air Lease Corp. 2.20% 1/15/2027  | 4341 | 4224 |
| Air Lease Corp. 5.20% 7/15/2031  | 3650 | 3720 |
| BAE Systems PLC 5.00% 3/26/2027 <sup>(d)</sup>  | 1200 | 1214 |
| BAE Systems PLC 5.125% 3/26/2029 <sup>(d)</sup>  | 3482 | 3587 |
| BAE Systems PLC 5.25% 3/26/2031 <sup>(d)</sup>  | 2156 | 2237 |
| BAE Systems PLC 5.30% 3/26/2034 <sup>(d)</sup>  | 570 | 591 |

---

American Funds Insurance Series — Page 199 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Industrials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Boeing Co. (The) 2.75% 2/1/2026  | USD11,211 | $11148 |
| Boeing Co. (The) 2.196% 2/4/2026  | 9781 | 9708 |
| Boeing Co. (The) 2.70% 2/1/2027  | 6473 | 6343 |
| Boeing Co. (The) 5.04% 5/1/2027  | 13539 | 13689 |
| Boeing Co. (The) 6.259% 5/1/2027  | 4214 | 4338 |
| Boeing Co. (The) 3.25% 2/1/2028  | 11810 | 11537 |
| Boeing Co. (The) 3.25% 3/1/2028  | 1925 | 1880 |
| Boeing Co. (The) 6.298% 5/1/2029  | 1507 | 1600 |
| Boeing Co. (The) 5.15% 5/1/2030  | 25342 | 26014 |
| Boeing Co. (The) 3.625% 2/1/2031  | 751 | 720 |
| Boeing Co. (The) 6.388% 5/1/2031  | 5632 | 6137 |
| Boeing Co. (The) 6.528% 5/1/2034  | 1381 | 1528 |
| Canadian Pacific Railway Co. 3.00% 12/2/2041  | 578 | 434 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 1801 | 1221 |
| CK Hutchison International (23), Ltd. 4.75% 4/21/2028 <sup>(d)</sup>  | 1260 | 1279 |
| CSX Corp. 4.10% 11/15/2032  | 1886 | 1854 |
| CSX Corp. 5.20% 11/15/2033  | 1333 | 1393 |
| CSX Corp. 4.50% 11/15/2052  | 4470 | 3862 |
| General Dynamics Corp. 3.75% 5/15/2028  | 479 | 478 |
| General Dynamics Corp. 3.625% 4/1/2030  | 387 | 380 |
| L3Harris Technologies, Inc. 5.40% 7/31/2033  | 1126 | 1174 |
| LG Energy Solution, Ltd. 5.25% 4/2/2028 <sup>(d)</sup>  | 13205 | 13463 |
| MISC Capital Two (Labuan), Ltd. 3.75% 4/6/2027 <sup>(d)</sup>  | 2690 | 2663 |
| Norfolk Southern Corp. 5.05% 8/1/2030  | 1734 | 1799 |
| Norfolk Southern Corp. 5.35% 8/1/2054  | 1458 | 1438 |
| Northrop Grumman Corp. 4.70% 3/15/2033  | 2909 | 2931 |
| Northrop Grumman Corp. 4.95% 3/15/2053  | 1124 | 1033 |
| Republic Services, Inc. 2.375% 3/15/2033  | 1635 | 1427 |
| Republic Services, Inc. 5.00% 4/1/2034  | 15 | 15 |
| RTX Corp. 5.75% 11/8/2026  | 550 | 559 |
| RTX Corp. 3.125% 5/4/2027  | 4551 | 4487 |
| RTX Corp. 4.125% 11/16/2028  | 4974 | 4971 |
| RTX Corp. 5.75% 1/15/2029  | 410 | 430 |
| RTX Corp. 6.00% 3/15/2031  | 550 | 594 |
| RTX Corp. 2.375% 3/15/2032  | 451 | 399 |
| RTX Corp. 6.10% 3/15/2034  | 401 | 439 |
| RTX Corp. 2.82% 9/1/2051  | 665 | 423 |
| RTX Corp. 3.03% 3/15/2052  | 1190 | 785 |
| RTX Corp. 6.40% 3/15/2054  | 1006 | 1126 |
| Summit Digitel Infrastructure Pvt, Ltd. 2.875% 8/12/2031 <sup>(d)</sup>  | 2550 | 2300 |
| TransDigm, Inc. 6.25% 1/31/2034 <sup>(d)</sup>  | 2405 | 2475 |
| Triton Container International, Ltd. 3.15% 6/15/2031 <sup>(d)</sup>  | 2482 | 2215 |
| Union Pacific Corp. 2.15% 2/5/2027  | 2213 | 2163 |
| Union Pacific Corp. 2.40% 2/5/2030  | 4454 | 4152 |
| Union Pacific Corp. 2.375% 5/20/2031  | 2298 | 2095 |
| Union Pacific Corp. 2.80% 2/14/2032  | 5244 | 4803 |
| Union Pacific Corp. 5.10% 2/20/2035  | 2104 | 2164 |
| Union Pacific Corp. 2.95% 3/10/2052  | 1405 | 916 |
| Union Pacific Corp. 5.60% 12/1/2054  | 470 | 478 |
| United Rentals (North America), Inc. 5.50% 5/15/2027  | 2500 | 2502 |
| Veralto Corp. 5.50% 9/18/2026  | 350 | 354 |
| Veralto Corp. 5.35% 9/18/2028  | 2450 | 2530 |
| Veralto Corp. 5.45% 9/18/2033  | 1680 | 1758 |

---

American Funds Insurance Series — Page 200 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Industrials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Waste Management, Inc. 1.50% 3/15/2031  | USD419 | $363 |
| Waste Management, Inc. 4.80% 3/15/2032  | 4135 | 4228 |
|  |  | 207390 |
| **Communication services 1.70%** |  |  |
| AT&T, Inc. 1.70% 3/25/2026  | 17807 | 17600 |
| AT&T, Inc. 1.65% 2/1/2028  | 4700 | 4450 |
| AT&T, Inc. 4.30% 2/15/2030  | 15940 | 15978 |
| AT&T, Inc. 2.55% 12/1/2033  | 12748 | 10860 |
| AT&T, Inc. 5.40% 2/15/2034  | 442 | 460 |
| AT&T, Inc. 4.50% 5/15/2035  | 174 | 168 |
| CCO Holdings, LLC 5.125% 5/1/2027 <sup>(d)</sup>  | 4800 | 4772 |
| CCO Holdings, LLC 4.75% 2/1/2032 <sup>(d)</sup>  | 1265 | 1171 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(d)</sup>  | 3875 | 3353 |
| Charter Communications Operating, LLC 6.10% 6/1/2029  | 1360 | 1427 |
| Charter Communications Operating, LLC 2.80% 4/1/2031  | 6057 | 5466 |
| Charter Communications Operating, LLC 4.40% 4/1/2033  | 1092 | 1036 |
| Charter Communications Operating, LLC 5.85% 12/1/2035  | 1302 | 1315 |
| Charter Communications Operating, LLC 5.75% 4/1/2048  | 5000 | 4535 |
| Charter Communications Operating, LLC 4.80% 3/1/2050  | 5134 | 4069 |
| Charter Communications Operating, LLC 3.70% 4/1/2051  | 2519 | 1663 |
| Charter Communications Operating, LLC 3.90% 6/1/2052  | 6148 | 4167 |
| Charter Communications Operating, LLC 5.25% 4/1/2053  | 1065 | 891 |
| Charter Communications Operating, LLC 6.70% 12/1/2055  | 1058 | 1071 |
| Comcast Corp. 3.15% 2/15/2028  | 7200 | 7074 |
| Comcast Corp. 4.55% 1/15/2029  | 1610 | 1631 |
| Comcast Corp. 4.80% 5/15/2033  | 1841 | 1860 |
| Comcast Corp. 2.887% 11/1/2051  | 18 | 11 |
| Comcast Corp. 5.65% 6/1/2054  | 3313 | 3254 |
| Comcast Corp. 5.50% 5/15/2064  | 250 | 236 |
| Netflix, Inc. 4.90% 8/15/2034  | 645 | 666 |
| Netflix, Inc. 5.40% 8/15/2054  | 127 | 128 |
| News Corp. 5.125% 2/15/2032 <sup>(d)</sup>  | 1300 | 1293 |
| SBA Tower Trust 1.631% 11/15/2026 <sup>(d)</sup>  | 6741 | 6546 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(d)</sup>  | 675 | 653 |
| Sirius XM Radio, LLC 3.875% 9/1/2031 <sup>(d)</sup>  | 12000 | 10883 |
| T-Mobile USA, Inc. 2.625% 4/15/2026  | 4416 | 4381 |
| T-Mobile USA, Inc. 3.75% 4/15/2027  | 5000 | 4972 |
| T-Mobile USA, Inc. 4.95% 3/15/2028  | 705 | 719 |
| T-Mobile USA, Inc. 4.80% 7/15/2028  | 175 | 178 |
| T-Mobile USA, Inc. 4.85% 1/15/2029  | 2725 | 2780 |
| T-Mobile USA, Inc. 3.875% 4/15/2030  | 4500 | 4414 |
| T-Mobile USA, Inc. 2.875% 2/15/2031  | 14691 | 13549 |
| T-Mobile USA, Inc. 5.125% 5/15/2032  | 4970 | 5116 |
| T-Mobile USA, Inc. 5.05% 7/15/2033  | 832 | 850 |
| T-Mobile USA, Inc. 5.75% 1/15/2034  | 730 | 774 |
| T-Mobile USA, Inc. 3.00% 2/15/2041  | 2100 | 1579 |
| T-Mobile USA, Inc. 6.00% 6/15/2054  | 920 | 953 |
| T-Mobile USA, Inc. 5.50% 1/15/2055  | 406 | 393 |
| Verizon Communications, Inc. 1.75% 1/20/2031  | 9144 | 8002 |
| Verizon Communications, Inc. 2.55% 3/21/2031  | 5047 | 4590 |
| Verizon Communications, Inc. 2.355% 3/15/2032  | 2775 | 2434 |
| Verizon Communications, Inc. 4.78% 2/15/2035  | 1552 | 1527 |
| Verizon Communications, Inc. 3.55% 3/22/2051  | 625 | 459 |

---

American Funds Insurance Series — Page 201 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Communication services (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Verizon Communications, Inc. 3.875% 3/1/2052  | USD4,006 | $3077 |
| WarnerMedia Holdings, Inc. 3.755% 3/15/2027  | 356 | 351 |
| WarnerMedia Holdings, Inc. 4.279% 3/15/2032  | 10855 | 9959 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042  | 3094 | 2472 |
| WarnerMedia Holdings, Inc. 5.141% 3/15/2052  | 1030 | 769 |
| ZipRecruiter, Inc. 5.00% 1/15/2030 <sup>(d)</sup>  | 490 | 395 |
|  |  | 193380 |
| **Consumer staples 1.59%** |  |  |
| Altria Group, Inc. 4.40% 2/14/2026  | 4585 | 4582 |
| Altria Group, Inc. 4.875% 2/4/2028  | 1330 | 1352 |
| Anheuser-Busch InBev Worldwide, Inc. 5.55% 1/23/2049  | 4715 | 4770 |
| BAT Capital Corp. 3.557% 8/15/2027  | 9271 | 9178 |
| BAT Capital Corp. 2.259% 3/25/2028  | 2353 | 2249 |
| BAT Capital Corp. 6.343% 8/2/2030  | 2210 | 2387 |
| BAT Capital Corp. 4.742% 3/16/2032  | 2675 | 2693 |
| BAT Capital Corp. 5.35% 8/15/2032  | 18664 | 19306 |
| BAT Capital Corp. 6.421% 8/2/2033  | 4665 | 5123 |
| BAT Capital Corp. 5.625% 8/15/2035  | 12170 | 12653 |
| BAT Capital Corp. 7.079% 8/2/2043  | 1323 | 1498 |
| BAT Capital Corp. 5.65% 3/16/2052  | 120 | 115 |
| BAT International Finance PLC 1.668% 3/25/2026  | 4070 | 4021 |
| BAT International Finance PLC 4.448% 3/16/2028  | 2925 | 2943 |
| Constellation Brands, Inc. 3.50% 5/9/2027  | 7500 | 7428 |
| Constellation Brands, Inc. 4.35% 5/9/2027  | 890 | 893 |
| Constellation Brands, Inc. 4.80% 5/1/2030  | 1618 | 1642 |
| Constellation Brands, Inc. 2.25% 8/1/2031  | 1487 | 1311 |
| Constellation Brands, Inc. 4.75% 5/9/2032  | 1978 | 1990 |
| Constellation Brands, Inc. 4.90% 5/1/2033  | 2807 | 2835 |
| H.J. Heinz Co. 4.875% 10/1/2049  | 2725 | 2385 |
| Imperial Brands Finance PLC 4.50% 6/30/2028 <sup>(d)</sup>  | 24345 | 24508 |
| Indofood CBP Sukses Makmur Tbk PT 3.398% 6/9/2031  | 3110 | 2895 |
| Indofood CBP Sukses Makmur Tbk PT 4.745% 6/9/2051  | 685 | 593 |
| Mars, Inc. 4.80% 3/1/2030 <sup>(d)</sup>  | 4670 | 4759 |
| Mars, Inc. 5.00% 3/1/2032 <sup>(d)</sup>  | 3640 | 3726 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(d)</sup>  | 15670 | 16025 |
| Mars, Inc. 5.65% 5/1/2045 <sup>(d)</sup>  | 2371 | 2407 |
| Mars, Inc. 5.70% 5/1/2055 <sup>(d)</sup>  | 13235 | 13416 |
| Mondelez International, Inc. 4.75% 8/28/2034  | 5520 | 5517 |
| Philip Morris International, Inc. 4.875% 2/13/2026  | 2508 | 2514 |
| Philip Morris International, Inc. 5.25% 9/7/2028  | 2800 | 2892 |
| Philip Morris International, Inc. 5.125% 2/15/2030  | 982 | 1015 |
| Philip Morris International, Inc. 5.50% 9/7/2030  | 4565 | 4802 |
| Philip Morris International, Inc. 4.75% 11/1/2031  | 830 | 845 |
| Philip Morris International, Inc. 5.375% 2/15/2033  | 1644 | 1717 |
| Walmart, Inc. 4.90% 4/28/2035  | 1013 | 1043 |
| Walmart, Inc. 4.50% 4/15/2053  | 1416 | 1270 |
|  |  | 181298 |
| **Information technology 1.14%** |  |  |
| Analog Devices, Inc. 2.10% 10/1/2031  | 270 | 239 |
| Analog Devices, Inc. 5.05% 4/1/2034  | 717 | 744 |
| Analog Devices, Inc. 2.80% 10/1/2041  | 521 | 386 |
| Broadcom Corp. 3.875% 1/15/2027  | 5966 | 5964 |

---

American Funds Insurance Series — Page 202 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Information technology (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Broadcom, Inc. 5.05% 7/12/2027  | USD2,545 | $2589 |
| Broadcom, Inc. 4.00% 4/15/2029 <sup>(d)</sup>  | 609 | 606 |
| Broadcom, Inc. 5.05% 7/12/2029  | 2177 | 2243 |
| Broadcom, Inc. 5.15% 11/15/2031  | 5186 | 5390 |
| Broadcom, Inc. 4.15% 4/15/2032 <sup>(d)</sup>  | 630 | 618 |
| Broadcom, Inc. 3.469% 4/15/2034 <sup>(d)</sup>  | 11652 | 10638 |
| Broadcom, Inc. 4.80% 10/15/2034  | 1063 | 1071 |
| Broadcom, Inc. 3.137% 11/15/2035 <sup>(d)</sup>  | 847 | 733 |
| Broadcom, Inc. 4.926% 5/15/2037 <sup>(d)</sup>  | 2879 | 2873 |
| Cisco Systems, Inc. 4.95% 2/26/2031  | 991 | 1026 |
| Cisco Systems, Inc. 5.05% 2/26/2034  | 843 | 872 |
| Cisco Systems, Inc. 5.10% 2/24/2035  | 2675 | 2768 |
| Cisco Systems, Inc. 5.30% 2/26/2054  | 784 | 775 |
| Fair Isaac Corp. 6.00% 5/15/2033 <sup>(d)</sup>  | 1300 | 1319 |
| Intel Corp. 3.05% 8/12/2051  | 1530 | 972 |
| Intel Corp. 5.60% 2/21/2054  | 7880 | 7571 |
| Microchip Technology, Inc. 5.05% 3/15/2029  | 4350 | 4448 |
| Oracle Corp. 1.65% 3/25/2026  | 4867 | 4810 |
| Oracle Corp. 4.80% 8/3/2028  | 615 | 625 |
| Oracle Corp. 4.45% 9/26/2030  | 2610 | 2609 |
| Oracle Corp. 5.25% 2/3/2032  | 1340 | 1382 |
| Oracle Corp. 4.80% 9/26/2032  | 5105 | 5113 |
| Oracle Corp. 5.50% 8/3/2035  | 2374 | 2444 |
| Oracle Corp. 5.20% 9/26/2035  | 6715 | 6755 |
| Oracle Corp. 5.875% 9/26/2045  | 2800 | 2809 |
| Oracle Corp. 6.00% 8/3/2055  | 5970 | 5998 |
| Oracle Corp. 5.95% 9/26/2055  | 9220 | 9198 |
| Oracle Corp. 6.10% 9/26/2065  | 2295 | 2293 |
| Roper Technologies, Inc. 5.10% 9/15/2035  | 1813 | 1828 |
| Synopsys, Inc. 5.15% 4/1/2035  | 21470 | 21849 |
| Synopsys, Inc. 5.70% 4/1/2055  | 8055 | 8135 |
|  |  | 129693 |
| **Real estate 0.65%** |  |  |
| American Tower Corp. 3.65% 3/15/2027  | 1375 | 1365 |
| Boston Properties, LP 2.90% 3/15/2030  | 4630 | 4301 |
| Boston Properties, LP 3.25% 1/30/2031  | 463 | 431 |
| Boston Properties, LP 2.55% 4/1/2032  | 1674 | 1448 |
| Boston Properties, LP 2.45% 10/1/2033  | 1335 | 1093 |
| Boston Properties, LP 6.50% 1/15/2034  | 10849 | 11707 |
| Boston Properties, LP 5.75% 1/15/2035  | 11874 | 12145 |
| COPT Defense Properties, LP 2.00% 1/15/2029  | 1139 | 1056 |
| COPT Defense Properties, LP 2.75% 4/15/2031  | 1547 | 1401 |
| COPT Defense Properties, LP 2.90% 12/1/2033  | 564 | 478 |
| Corp. Inmobiliaria Vesta, SAB de CV, 3.625% 5/13/2031 <sup>(d)</sup>  | 395 | 367 |
| Crown Castle, Inc. 5.00% 1/11/2028  | 4874 | 4943 |
| FibraSOMA 4.375% 7/22/2031 <sup>(d)</sup>  | 1475 | 1277 |
| Howard Hughes Corp. (The) 5.375% 8/1/2028 <sup>(d)</sup>  | 1755 | 1749 |
| Howard Hughes Corp. (The) 4.125% 2/1/2029 <sup>(d)</sup>  | 2755 | 2645 |
| Howard Hughes Corp. (The) 4.375% 2/1/2031 <sup>(d)</sup>  | 3135 | 2942 |
| Iron Mountain, Inc. 5.25% 3/15/2028 <sup>(d)</sup>  | 3020 | 3017 |
| Iron Mountain, Inc. 5.25% 7/15/2030 <sup>(d)</sup>  | 675 | 668 |
| Ladder Capital Finance Holdings LLLP 5.50% 8/1/2030  | 2097 | 2140 |
| Ladder Capital Finance Holdings LLLP 7.00% 7/15/2031 <sup>(d)</sup>  | 4683 | 4913 |

---

American Funds Insurance Series — Page 203 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Real estate (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Prologis, LP 4.875% 6/15/2028  | USD1,040 | $1064 |
| Prologis, LP 4.75% 6/15/2033  | 1409 | 1422 |
| Prologis, LP 5.125% 1/15/2034  | 6175 | 6346 |
| Prologis, LP 5.00% 3/15/2034  | 360 | 366 |
| Prologis, LP 5.25% 6/15/2053  | 117 | 113 |
| Service Properties Trust 3.95% 1/15/2028  | 1710 | 1602 |
| Service Properties Trust 8.625% 11/15/2031 <sup>(d)</sup>  | 3040 | 3239 |
|  |  | 74238 |
| **Materials 0.53%** |  |  |
| Air Products and Chemicals, Inc. 2.70% 5/15/2040  | 2911 | 2174 |
| BHP Billiton Finance (USA), Ltd. 5.25% 9/8/2033  | 138 | 144 |
| BHP Billiton Finance (USA), Ltd. 5.75% 9/5/2055  | 1924 | 2001 |
| Braskem Netherlands Finance BV 7.25% 2/13/2033 <sup>(d)</sup>  | 700 | 269 |
| Celanese US Holdings, LLC 6.665% 7/15/2027  | 6297 | 6464 |
| Celanese US Holdings, LLC 6.85% 11/15/2028  | 3575 | 3713 |
| Celanese US Holdings, LLC 6.83% 7/15/2029  | 8862 | 9159 |
| Celanese US Holdings, LLC 7.05% 11/15/2030  | 4530 | 4680 |
| Celanese US Holdings, LLC 6.879% 7/15/2032  | 800 | 818 |
| Celanese US Holdings, LLC 7.20% 11/15/2033  | 1031 | 1072 |
| Chevron Phillips Chemical Co., LLC 4.75% 5/15/2030 <sup>(d)</sup>  | 834 | 849 |
| Dow Chemical Co. (The) 5.15% 2/15/2034  | 8 | 8 |
| Dow Chemical Co. (The) 5.35% 3/15/2035  | 129 | 128 |
| Dow Chemical Co. (The) 5.65% 3/15/2036  | 66 | 66 |
| Dow Chemical Co. (The) 5.55% 11/30/2048  | 142 | 129 |
| Dow Chemical Co. (The) 6.90% 5/15/2053  | 62 | 66 |
| Dow Chemical Co. (The) 5.60% 2/15/2054  | 746 | 676 |
| Methanex Corp. 5.125% 10/15/2027  | 510 | 511 |
| NOVA Chemicals Corp. 8.50% 11/15/2028 <sup>(d)</sup>  | 205 | 215 |
| NOVA Chemicals Corp. 4.25% 5/15/2029 <sup>(d)</sup>  | 425 | 412 |
| POSCO 5.75% 1/17/2028 <sup>(d)</sup>  | 745 | 769 |
| Rio Tinto Finance (USA) PLC 4.875% 3/14/2030  | 25776 | 26421 |
|  |  | 60744 |
| **Municipals 0.01%** |  |  |
| Aeropuerto Internacional de Tocumen SA 4.00% 8/11/2041 <sup>(d)</sup>  | 730 | 608 |
| Aeropuerto Internacional de Tocumen SA 5.125% 8/11/2061 <sup>(d)</sup>  | 565 | 451 |
|  |  | 1059 |
| **Total corporate bonds, notes & loans** |  | 3638743 |
| **U.S. Treasury bonds & notes 21.25%**<br> **U.S. Treasury 20.38%**<br>|  |  |
| U.S. Treasury 5.00% 10/31/2025  | 27980 | 27999 |
| U.S. Treasury 2.25% 11/15/2025  | 6785 | 6771 |
| U.S. Treasury 4.25% 12/31/2025  | 4994 | 4998 |
| U.S. Treasury 3.625% 5/15/2026  | 1926 | 1924 |
| U.S. Treasury 4.625% 6/30/2026  | 198 | 199 |
| U.S. Treasury 4.375% 7/31/2026  | 271 | 272 |
| U.S. Treasury 0.75% 8/31/2026  | 8871 | 8635 |
| U.S. Treasury 4.625% 11/15/2026  | 3589 | 3624 |
| U.S. Treasury 4.00% 1/15/2027  | 3741 | 3755 |
| U.S. Treasury 1.875% 2/28/2027  | 4000 | 3902 |
| U.S. Treasury 2.625% 5/31/2027  | 43530 | 42812 |

---

American Funds Insurance Series — Page 204 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. Treasury bonds & notes (continued)**<br> **U.S. Treasury (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| U.S. Treasury 3.50% 9/30/2027  | USD306,083 | $305449 |
| U.S. Treasury 2.25% 11/15/2027  | 105830 | 102900 |
| U.S. Treasury 6.125% 11/15/2027  | 24000 | 25221 |
| U.S. Treasury 1.125% 2/29/2028  | 9895 | 9332 |
| U.S. Treasury 4.00% 2/29/2028  | 4750 | 4792 |
| U.S. Treasury 3.625% 3/31/2028  | 13 | 13 |
| U.S. Treasury 1.00% 7/31/2028  | 5630 | 5235 |
| U.S. Treasury 1.125% 8/31/2028 <sup>(h)</sup>  | 13555 | 12623 |
| U.S. Treasury 3.375% 9/15/2028  | 95765 | 95110 |
| U.S. Treasury 5.25% 11/15/2028  | 5700 | 5968 |
| U.S. Treasury 2.375% 5/15/2029  | 4070 | 3893 |
| U.S. Treasury 4.00% 7/31/2029  | 334 | 338 |
| U.S. Treasury 3.875% 12/31/2029  | 44049 | 44336 |
| U.S. Treasury 3.75% 5/31/2030  | 13300 | 13310 |
| U.S. Treasury 4.125% 8/31/2030  | 11215 | 11404 |
| U.S. Treasury 3.625% 9/30/2030 <sup>(h)</sup>  | 327493 | 325841 |
| U.S. Treasury 4.875% 10/31/2030  | 92133 | 96862 |
| U.S. Treasury 4.125% 10/31/2031  | 1408 | 1429 |
| U.S. Treasury 4.125% 11/30/2031  | 985 | 999 |
| U.S. Treasury 3.875% 9/30/2032  | 109951 | 109599 |
| U.S. Treasury 4.125% 11/15/2032  | 114 | 115 |
| U.S. Treasury 4.375% 5/15/2034  | 100 | 102 |
| U.S. Treasury 4.25% 8/15/2035  | 221819 | 223604 |
| U.S. Treasury 4.25% 5/15/2039 <sup>(h)</sup>  | 125497 | 123585 |
| U.S. Treasury 1.375% 11/15/2040  | 24540 | 16020 |
| U.S. Treasury 1.875% 2/15/2041  | 24272 | 17073 |
| U.S. Treasury 4.75% 2/15/2041  | 75066 | 77066 |
| U.S. Treasury 2.00% 11/15/2041  | 57 | 40 |
| U.S. Treasury 2.375% 2/15/2042  | 2701 | 2002 |
| U.S. Treasury 3.25% 5/15/2042  | 10848 | 9117 |
| U.S. Treasury 4.875% 8/15/2045  | 142111 | 145264 |
| U.S. Treasury 3.00% 2/15/2049  | 124633 | 93300 |
| U.S. Treasury 2.875% 5/15/2049  | 19228 | 14028 |
| U.S. Treasury 2.875% 5/15/2052  | 990 | 707 |
| U.S. Treasury 4.00% 11/15/2052  | 7328 | 6483 |
| U.S. Treasury 4.125% 8/15/2053  | 213 | 193 |
| U.S. Treasury 4.75% 5/15/2055 <sup>(h)</sup>  | 262133 | 262927 |
| U.S. Treasury 4.75% 8/15/2055  | 50086 | 50258 |
|  |  | 2321429 |
| **U.S. Treasury inflation-protected securities 0.87%** |  |  |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2026 <sup>(i)</sup>  | 6088 | 6056 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2030 <sup>(i)</sup>  | 7703 | 7356 |
| U.S. Treasury Inflation-Protected Security 1.875% 7/15/2034 <sup>(i)</sup>  | 11555 | 11726 |
| U.S. Treasury Inflation-Protected Security 1.875% 7/15/2035 <sup>(i)</sup>  | 31867 | 32133 |
| U.S. Treasury Inflation-Protected Security 0.125% 2/15/2051 <sup>(i)</sup>  | —<br> <sup>(j)</sup><br>| — <br><sup>(j)</sup><br>|
| U.S. Treasury Inflation-Protected Security 1.50% 2/15/2053 <sup>(i)</sup>  | 6157 | 4930 |
| U.S. Treasury Inflation-Protected Security 2.125% 2/15/2054 <sup>(i)</sup>  | 5780 | 5337 |
| U.S. Treasury Inflation-Protected Security 2.375% 2/15/2055 <sup>(i)</sup>  | 32966 | 32199 |
|  |  | 99737 |
| **Total U.S. Treasury bonds & notes** |  | 2421166 |

---

American Funds Insurance Series — Page 205 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Asset-backed obligations 4.77%**<br> **Other asset-backed securities 2.62%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Affirm Asset Securitization Trust, Series 2024-B, Class A, 4.62% 9/15/2029 <sup>(a)(d)</sup> <br>| USD9,848 | $9887 |
| Affirm, Inc., Series 2024, Class 1A, 5.61% 2/15/2029 <sup>(a)(d)</sup> <br>| 11785 | 11840 |
| Affirm, Inc., Series 2024-A, Class A, 5.61% 2/15/2029 <sup>(a)(d)</sup> <br>| 3485 | 3501 |
| Affirm, Inc., Series 2024-X2, Class A, 5.22% 12/17/2029 <sup>(a)(d)</sup> <br>| 1450 | 1452 |
| Apollo Aviation Securitization Equity Trust, Series 2025-2A, Class A, 5.522% 2/16/2050 <sup>(a)(d)</sup> <br>| 4837 | 4897 |
| AXIS Equipment Finance Receivables, LLC, Series 2024-2, Class A2, 5.19% 7/21/2031 <sup>(a)(d)</sup> <br>| 5014 | 5081 |
| Bankers Healthcare Group Securitization Trust, Series 2021-B, Class B, 1.67% 10/17/2034 <sup>(a)(d)</sup> <br>| 158 | 156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, <br> Class A, 2.443% 7/15/2046 <sup>(a)(d)</sup> <br>| 3003 | 2841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, <br> Class B, 3.446% 7/15/2046 <sup>(a)(d)</sup> <br>| 346 | 330 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class A2, 5.05% 3/15/2029 <sup>(a)(d)</sup> <br>| 847 | 851 |
| Business Jet Securities, LLC, Series 2024-2A, Class A, 5.364% 9/15/2039 <sup>(a)(d)</sup> <br>| 6049 | 6085 |
| Capteris Equipment Finance, Series 2024-1, Class A2, 5.58% 7/20/2032 <sup>(a)(d)</sup> <br>| 12012 | 12217 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 5/11/2037 <sup>(a)(d)</sup> <br>| 13500 | 12597 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class C, 3.464% 5/11/2037 <sup>(a)(d)</sup> <br>| 5271 | 4922 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class C, 6.171% 5/11/2037 <sup>(a)(d)</sup> <br>| 589 | 560 |
| Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 8/15/2041 <sup>(a)(d)</sup> <br>| 58 | 57 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060 <sup>(a)(d)</sup> <br>| 18412 | 15915 |
| CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/2060 <sup>(a)(d)</sup> <br>| 1897 | 1612 |
| CF Hippolyta, LLC, Series 2020-1, Class B1, 2.28% 7/15/2060 <sup>(a)(d)</sup> <br>| 3362 | 2393 |
| CF Hippolyta, LLC, Series 2020-1, Class B2, 2.60% 7/15/2060 <sup>(a)(d)</sup> <br>| 364 | 256 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061 <sup>(a)(d)</sup> <br>| 5966 | 4996 |
| CF Hippolyta, LLC, Series 2021-1, Class B1, 1.98% 3/15/2061 <sup>(a)(d)</sup> <br>| 1898 | 1488 |
| CF Hippolyta, LLC, Series 2022-1A, Class A1, 5.97% 8/15/2062 <sup>(a)(d)</sup> <br>| 14915 | 14475 |
| CF Hippolyta, LLC, Series 2022-1A, Class A2, 6.11% 8/15/2062 <sup>(a)(d)</sup> <br>| 6542 | 6287 |
| Clarus Capital Funding, LLC, Series 2024-1A, Class A2, 4.71% 8/20/2032 <sup>(a)(d)</sup> <br>| 4919 | 4938 |
| CLI Funding VI, LLC, Series 2020-2A, Class A, 2.03% 9/15/2045 <sup>(a)(d)</sup> <br>| 1462 | 1372 |
| CLI Funding VI, LLC, Series 2020-3A, Class A, 2.07% 10/18/2045 <sup>(a)(d)</sup> <br>| 2987 | 2808 |
| CLI Funding VIII, LLC, Series 2021-1A, Class A, 2.38% 2/18/2046 <sup>(a)(d)</sup> <br>| 269 | 249 |
| EDvestinU Private Education Loan, LLC, Series 2021-A, Class A, 1.80% 11/25/2045 <sup>(a)(d)</sup> <br>| 249 | 233 |
| EquipmentShare, Series 2024-2M, Class A, 5.70% 12/20/2032 <sup>(a)(d)</sup> <br>| 7565 | 7685 |
| EquipmentShare, Series 2025-1M, Class A, 5.48% 9/26/2033 <sup>(a)(d)</sup> <br>| 3906 | 3948 |
| GCI Funding I, LLC, Series 2020-1, Class A, 2.82% 10/18/2045 <sup>(a)(d)</sup> <br>| 1363 | 1296 |
| GCI Funding I, LLC, Series 2021-1, Class A, 2.38% 6/18/2046 <sup>(a)(d)</sup> <br>| 1034 | 960 |
| GCI Funding I, LLC, Series 2021-1, Class B, 3.04% 6/18/2046 <sup>(a)(d)</sup> <br>| 115 | 106 |
| Global SC Finance VII SRL, Series 2020-2A, Class A, 2.26% 11/19/2040 <sup>(a)(d)</sup> <br>| 1745 | 1669 |
| Global SC Finance VII SRL, Series 2021-1A, Class A, 1.86% 4/17/2041 <sup>(a)(d)</sup> <br>| 6432 | 5994 |
| Global SC Finance VII SRL, Series 2021-2A, Class A, 1.95% 8/17/2041 <sup>(a)(d)</sup> <br>| 1783 | 1675 |
| Global SC Finance VII SRL, Series 2021-2A, Class B, 2.49% 8/17/2041 <sup>(a)(d)</sup> <br>| 1502 | 1395 |
| Horizon Aircraft Finance, Series 2024-1, Class A, 5.375% 9/15/2049 <sup>(a)(d)</sup> <br>| 9005 | 9112 |
| Merchants Fleet Funding, LLC, Series 2023-1, Class A, 7.21% 5/20/2036 <sup>(a)(d)</sup> <br>| 567 | 570 |
| Merchants Fleet Funding, LLC, Series 2024-1, Class A, 5.82% 4/20/2037 <sup>(a)(d)</sup> <br>| 6290 | 6340 |
| Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 11/15/2046 <sup>(a)(d)</sup> <br>| 3299 | 3133 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(a)(d)</sup> <br>| 50765 | 42513 |
| NMEF Funding, LLC, Series 2024-A, Class A2, 5.15% 12/15/2031 <sup>(a)(d)</sup> <br>| 4499 | 4536 |
| NMEF Funding, LLC, Series 2025-B, Class A2, 4.64% 1/18/2033 <sup>(a)(d)</sup> <br>| 5756 | 5782 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-2A, Class A, 4.98% 10/17/2031 <sup>(a)(d)</sup> <br>| 2314 | 2322 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-2A, Class B, 5.42% 10/17/2031 <sup>(a)(d)</sup> <br>| 482 | 483 |
| PEAC Solutions Receivables, LLC, Series 2024-2A, Class A2, 4.74% 4/20/2027 <sup>(a)(d)</sup> <br>| 2119 | 2124 |
| PEAC Solutions Receivables, LLC, Series 2024-1A, Class A2, 5.79% 6/21/2027 <sup>(a)(d)</sup> <br>| 2881 | 2907 |
| PFS Financing Corp., Series 2023-A, Class A, 5.80% 3/15/2028 <sup>(a)(d)</sup> <br>| 1710 | 1722 |
| PFS Financing Corp., Series 2023-B, Class A, 5.27% 5/15/2028 <sup>(a)(d)</sup> <br>| 4558 | 4588 |
| PFS Financing Corp., Series 2023-C, Class A, 5.52% 10/15/2028 <sup>(a)(d)</sup> <br>| 909 | 923 |

---

American Funds Insurance Series — Page 206 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Asset-backed obligations (continued)**<br> **Other asset-backed securities (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| PK ALIFT Loan Funding 4, LP, Series 2024-2, Class A, 5.052% 10/15/2039 <sup>(a)(d)</sup> <br>| USD4,623 | $4635 |
| Post Road Equipment Finance, Series 2024-1, Class A2, 5.59% 11/15/2029 <sup>(a)(d)</sup> <br>| 1118 | 1124 |
| SCF Equipment Leasing, LLC, Series 2024-1A, Class A2, 5.88% 11/20/2029 <sup>(a)(d)</sup> <br>| 1641 | 1653 |
| SLAM, Ltd., Series 2021-1, Class A, 2.434% 6/15/2046 <sup>(a)(d)</sup> <br>| 2137 | 2018 |
| SLAM, Ltd., Series 2021-1, Class B, 3.422% 6/15/2046 <sup>(a)(d)</sup> <br>| 394 | 374 |
| SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 2.636% 10/15/2046 <sup>(a)(d)</sup> <br>| 1837 | 1738 |
| SPRITE, Ltd., Series 2021-1, Class A, 3.75% 11/15/2046 <sup>(a)(d)</sup> <br>| 1248 | 1214 |
| Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 10/15/2041 <sup>(a)(d)</sup> <br>| 152 | 150 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/2033 <sup>(a)(d)</sup> <br>| 441 | 426 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class A, 2.675% 2/28/2033 <sup>(a)(d)</sup> <br>| 506 | 489 |
| SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 9/15/2075 <sup>(a)(d)</sup> <br>| 882 | 858 |
| TAL Advantage V, LLC, Series 2020-1A, Class A, 2.05% 9/20/2045 <sup>(a)(d)</sup> <br>| 1848 | 1758 |
| Textainer Marine Containers, Ltd., Series 2020-1A, Class A, 2.73% 8/21/2045 <sup>(a)(d)</sup> <br>| 735 | 707 |
| Textainer Marine Containers, Ltd., Series 2020-2A, Class A, 2.10% 9/20/2045 <sup>(a)(d)</sup> <br>| 1456 | 1372 |
| Textainer Marine Containers, Ltd., Series 2021-1, Class A, 1.68% 2/20/2046 <sup>(a)(d)</sup> <br>| 4594 | 4286 |
| Textainer Marine Containers, Ltd., Series 2021-1, Class B, 2.52% 2/20/2046 <sup>(a)(d)</sup> <br>| 257 | 239 |
| Textainer Marine Containers, Ltd., Series 2021-2A, Class A, 2.23% 4/20/2046 <sup>(a)(d)</sup> <br>| 3880 | 3644 |
| TIF Funding II, LLC, Series 2020-1A, Class A, 2.09% 8/20/2045 <sup>(a)(d)</sup> <br>| 3186 | 3029 |
| TIF Funding II, LLC, Series 2021-1A, Class B, 2.54% 2/20/2046 <sup>(a)(d)</sup> <br>| 95 | 87 |
| Triton Container Finance VIII, LLC, Series 2020-1, Class A, 2.11% 9/20/2045 <sup>(a)(d)</sup> <br>| 7407 | 6948 |
| Triton Container Finance VIII, LLC, Series 2021-1, Class A, 1.86% 3/20/2046 <sup>(a)(d)</sup> <br>| 2585 | 2390 |
| Triton Container Finance VIII, LLC, Series 2021-1A, Class B, 2.58% 3/20/2046 <sup>(a)(d)</sup> <br>| 251 | 232 |
| Verizon Master Trust, Series 2024-1, Class A1A, 5.00% 12/20/2028 <sup>(a)</sup> <br>| 7985 | 8000 |
| Verizon Master Trust, Series 2023-3, Class A, 4.73% 4/21/2031 <sup>(a)(d)</sup> <br>| 5380 | 5482 |
|  |  | 298932 |
| **Auto loan 1.52%** |  |  |
| Ally Auto Receivables Trust, Series 2023-1, Class A3, 5.46% 5/15/2028 <sup>(a)</sup> <br>| 348 | 351 |
| AmeriCredit Automobile Receivables Trust, Series 2021-2, Class C, 1.01% 1/19/2027 <sup>(a)</sup> <br>| 291 | 289 |
| AmeriCredit Automobile Receivables Trust, Series 2021-2, Class D, 1.29% 6/18/2027 <sup>(a)</sup> <br>| 2613 | 2590 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/2027 <sup>(a)(d)</sup> <br>| 2022 | 2012 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/2027 <sup>(a)(d)</sup> <br>| 519 | 517 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class C, 4.25% 2/20/2027 <sup>(a)(d)</sup> <br>| 1066 | 1065 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class A, 1.38% 8/20/2027 <sup>(a)(d)</sup> <br>| 3445 | 3380 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class B, 1.63% 8/20/2027 <sup>(a)(d)</sup> <br>| 531 | 521 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class C, 2.13% 8/20/2027 <sup>(a)(d)</sup> <br>| 193 | 189 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-5, Class A, 5.78% 4/20/2028 <sup>(a)(d)</sup> <br>| 6724 | 6870 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2025-1A, Class A, 4.80% 8/20/2029 <sup>(a)(d)</sup> <br>| 1348 | 1367 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/2029 <sup>(a)(d)</sup> <br>| 5059 | 5276 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2024-1, Class A, 5.36% 6/20/2030 <sup>(a)(d)</sup> <br>| 4665 | 4833 |
| BMW Vehicle Owner Trust, Series 2023-A, Class A3, 5.47% 2/25/2028 <sup>(a)</sup> <br>| 123 | 124 |
| Bridgecrest Lending Auto Securitization Trust, Series 2023-1, Class A3, 6.51% 11/15/2027 <sup>(a)</sup> <br>| 25 | 25 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class A3, 5.53% 1/18/2028 <sup>(a)</sup> <br>| 875 | 876 |
| Bridgecrest Lending Auto Securitization Trust, Series 2023-1, Class B, 6.80% 8/15/2029 <sup>(a)</sup> <br>| 1400 | 1408 |
| Carvana Auto Receivables Trust, Series 2023-P3, Class A3, 5.82% 8/10/2028 <sup>(a)(d)</sup> <br>| 304 | 306 |
| Carvana Auto Receivables Trust, Series 2021-N4, Class C, 1.72% 9/11/2028 <sup>(a)</sup> <br>| 56 | 55 |
| Carvana Auto Receivables Trust, Series 2023-P3, Class A4, 5.71% 7/10/2029 <sup>(a)(d)</sup> <br>| 172 | 176 |
| Chesapeake Funding II, LLC, Series 2023-2, Class A1, 6.16% 10/15/2035 <sup>(a)(d)</sup> <br>| 528 | 536 |
| Citizens Auto Receivables Trust, Series 2023-2, Class A3, 5.83% 2/15/2028 <sup>(a)(d)</sup> <br>| 1197 | 1206 |
| Citizens Auto Receivables Trust, Series 2023-2, Class A4, 5.74% 10/15/2030 <sup>(a)(d)</sup> <br>| 799 | 817 |
| CPS Auto Receivables Trust, Series 2024-A, Class B, 5.65% 5/15/2028 <sup>(a)(d)</sup> <br>| 1007 | 1010 |
| CPS Auto Receivables Trust, Series 2024-D, Class A, 4.91% 6/15/2028 <sup>(a)(d)</sup> <br>| 748 | 749 |
| CPS Auto Receivables Trust, Series 2022-B, Class C, 4.33% 8/15/2028 <sup>(a)(d)</sup> <br>| 272 | 272 |
| Drive Auto Receivables Trust, Series 2024-2, Class A2, 4.94% 12/15/2027 <sup>(a)</sup> <br>| 566 | 566 |

---

American Funds Insurance Series — Page 207 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Asset-backed obligations (continued)**<br> **Auto loan (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| DriveTime Auto Owner Trust, Series 2023-3, Class C, 6.40% 5/15/2029 <sup>(a)(d)</sup> <br>| USD819 | $830 |
| DriveTime Auto Owner Trust, Series 2023-3, Class D, 7.12% 5/15/2029 <sup>(a)(d)</sup> <br>| 846 | 878 |
| Enterprise Fleet Financing, LLC, Series 2024-3, Class A2, 5.31% 4/20/2027 <sup>(a)(d)</sup> <br>| 2042 | 2054 |
| Enterprise Fleet Financing, LLC, Series 2024-4, Class A2, 4.69% 7/20/2027 <sup>(a)(d)</sup> <br>| 8258 | 8288 |
| Enterprise Fleet Financing, LLC, Series 2022-3, Class A3, 4.29% 7/20/2029 <sup>(a)(d)</sup> <br>| 897 | 898 |
| Enterprise Fleet Financing, LLC, Series 2022-3, Class A2, 4.38% 7/20/2029 <sup>(a)(d)</sup> <br>| 141 | 141 |
| Enterprise Fleet Financing, LLC, Series 2024-1, Class A2, 5.23% 3/20/2030 <sup>(a)(d)</sup> <br>| 8713 | 8789 |
| Exeter Automobile Receivables Trust, Series 2021-2, Class D, 1.40% 4/15/2027 <sup>(a)</sup> <br>| 919 | 910 |
| Exeter Automobile Receivables Trust, Series 2023-5A, Class B, 6.58% 4/17/2028 <sup>(a)</sup> <br>| 2426 | 2437 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class C, 6.21% 6/15/2028 <sup>(a)</sup> <br>| 348 | 350 |
| Exeter Automobile Receivables Trust, Series 2022-2A, Class D, 4.56% 7/17/2028 <sup>(a)</sup> <br>| 245 | 245 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class D, 6.68% 4/16/2029 <sup>(a)</sup> <br>| 758 | 776 |
| Exeter Automobile Receivables Trust, Series 2023-1A, Class D, 6.69% 6/15/2029 <sup>(a)</sup> <br>| 462 | 471 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class E, 9.98% 1/15/2031 <sup>(a)(d)</sup> <br>| 1014 | 1094 |
| Flagship Credit Auto Trust, Series 2023-3, Class A3, 5.44% 4/17/2028 <sup>(a)(d)</sup> <br>| 485 | 486 |
| Flagship Credit Auto Trust, Series 2023-3, Class B, 5.64% 7/16/2029 <sup>(a)(d)</sup> <br>| 312 | 315 |
| Flagship Credit Auto Trust, Series 2023-3, Class C, 6.01% 7/16/2029 <sup>(a)(d)</sup> <br>| 454 | 453 |
| Flagship Credit Auto Trust, Series 2023-3, Class D, 6.58% 8/15/2029 <sup>(a)(d)</sup> <br>| 307 | 302 |
| Ford Credit Auto Owner Trust, Series 2023-B, Class A3, 5.23% 5/15/2028 <sup>(a)</sup> <br>| 562 | 566 |
| Ford Credit Auto Owner Trust, Series 2023-B, Class A4, 5.06% 2/15/2029 <sup>(a)</sup> <br>| 597 | 606 |
| Ford Credit Auto Owner Trust, Series 2023-1, Class A, 4.85% 8/15/2035 <sup>(a)(d)</sup> <br>| 4218 | 4296 |
| Ford Credit Floorplan Master Owner Trust, Series 2023-1, Class A1, 4.92% 5/15/2028 <sup>(a)(d)</sup> <br>| 5833 | 5862 |
| GLS Auto Receivables Trust, Series 2024-3A, Class A2, 5.35% 8/16/2027 <sup>(a)(d)</sup> <br>| 518 | 519 |
| GLS Auto Receivables Trust, Series 2023-3, Class B, 5.89% 1/18/2028 <sup>(a)(d)</sup> <br>| 625 | 626 |
| GLS Auto Receivables Trust, Series 2023-3, Class C, 6.01% 5/15/2029 <sup>(a)(d)</sup> <br>| 561 | 566 |
| GLS Auto Receivables Trust, Series 2023-3, Class D, 6.44% 5/15/2029 <sup>(a)(d)</sup> <br>| 507 | 519 |
| GLS Auto Select Receivables Trust, Series 2024-4A, Class A2, 4.43% 12/17/2029 <sup>(a)(d)</sup> <br>| 2076 | 2082 |
| GLS Auto Select Receivables Trust, Series 2024-2, Class A2, 5.58% 6/17/2030 <sup>(a)(d)</sup> <br>| 1279 | 1295 |
| GM Financial Automobile Leasing Trust, Series 2023-3, Class A3, 5.38% 11/20/2026 <sup>(a)</sup> <br>| 162 | 162 |
| GM Financial Automobile Leasing Trust, Series 2023-3, Class A4, 5.44% 8/20/2027 <sup>(a)</sup> <br>| 101 | 101 |
| GM Financial Consumer Automobile Receivables Trust, Series 2023-3, Class A3, 5.45% 6/16/2028 <sup>(a)</sup> <br>| 348 | 351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GM Financial Consumer Automobile Receivables Trust, Series 2023-3, Class A4, <br>5.34% 12/18/2028 <sup>(a)</sup> <br>| 320 | 326 |
| GM Financial Revolving Receivables Trust, Series 2023-1, Class A, 5.12% 4/11/2035 <sup>(a)(d)</sup> <br>| 4815 | 4937 |
| GM Financial Revolving Receivables Trust, Series 2022-1, Class A, 5.91% 10/11/2035 <sup>(a)(d)</sup> <br>| 2703 | 2804 |
| GM Financial Revolving Receivables Trust, Series 2023-2, Class A, 5.77% 8/11/2036 <sup>(a)(d)</sup> <br>| 3984 | 4182 |
| GMF Floorplan Owner Revolving Trust, Series 2023-1, Class A1, 5.34% 6/15/2028 <sup>(a)(d)</sup> <br>| 1600 | 1614 |
| GMF Floorplan Owner Revolving Trust, Series 2023-1, Class A, 5.34% 6/15/2030 <sup>(a)(d)</sup> <br>| 948 | 980 |
| Hertz Vehicle Financing III, LLC, Series 2023-1, Class 1D, 9.13% 6/25/2027 <sup>(a)(d)</sup> <br>| 330 | 335 |
| Hertz Vehicle Financing III, LLC, Series 2022-2, Class D, 5.16% 6/26/2028 <sup>(a)(d)</sup> <br>| 1174 | 1147 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027 <sup>(a)(d)</sup> <br>| 17770 | 17329 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027 <sup>(a)(d)</sup> <br>| 1264 | 1229 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class C, 2.52% 12/27/2027 <sup>(a)(d)</sup> <br>| 859 | 836 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class A, 5.44% 1/25/2029 <sup>(a)(d)</sup> <br>| 3007 | 3072 |
| Honda Auto Receivables Owner Trust, Series 2023-1, Class A3, 5.04% 4/21/2027 <sup>(a)</sup> <br>| 131 | 132 |
| Honda Auto Receivables Owner Trust, Series 2023-1, Class A4, 4.97% 6/21/2029 <sup>(a)</sup> <br>| 188 | 190 |
| Hyundai Auto Receivables Trust, Series 2023-B, Class A3, 5.48% 4/17/2028 <sup>(a)</sup> <br>| 110 | 110 |
| Hyundai Auto Receivables Trust, Series 2023-B, Class A4, 5.31% 8/15/2029 <sup>(a)</sup> <br>| 160 | 163 |
| LAD Auto Receivables Trust, Series 2022-1, Class A, 5.21% 6/15/2027 <sup>(a)(d)</sup> <br>| 13 | 13 |
| LAD Auto Receivables Trust, Series 2023-1, Class A3, 5.48% 6/15/2027 <sup>(a)(d)</sup> <br>| 41 | 41 |
| LAD Auto Receivables Trust, Series 2022-1, Class B, 5.87% 9/15/2027 <sup>(a)(d)</sup> <br>| 438 | 439 |
| LAD Auto Receivables Trust, Series 2023-4, Class A3, 6.10% 12/15/2027 <sup>(a)(d)</sup> <br>| 566 | 567 |
| LAD Auto Receivables Trust, Series 2023-2, Class A3, 5.42% 2/15/2028 <sup>(a)(d)</sup> <br>| 423 | 424 |
| LAD Auto Receivables Trust, Series 2023-2, Class B, 5.45% 4/15/2028 <sup>(a)(d)</sup> <br>| 615 | 618 |

---

American Funds Insurance Series — Page 208 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Asset-backed obligations (continued)**<br> **Auto loan (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| LAD Auto Receivables Trust, Series 2023-3, Class B, 6.09% 6/15/2028 <sup>(a)(d)</sup> <br>| USD848 | $859 |
| LAD Auto Receivables Trust, Series 2023-2, Class C, 5.58% 9/15/2028 <sup>(a)(d)</sup> <br>| 1361 | 1374 |
| LAD Auto Receivables Trust, Series 2023-4, Class B, 6.39% 10/16/2028 <sup>(a)(d)</sup> <br>| 3223 | 3294 |
| LAD Auto Receivables Trust, Series 2023-3, Class C, 6.43% 12/15/2028 <sup>(a)(d)</sup> <br>| 714 | 731 |
| LAD Auto Receivables Trust, Series 2022-1, Class C, 6.85% 4/15/2030 <sup>(a)(d)</sup> <br>| 623 | 630 |
| LAD Auto Receivables Trust, Series 2023-3, Class D, 6.92% 12/16/2030 <sup>(a)(d)</sup> <br>| 483 | 501 |
| LAD Auto Receivables Trust, Series 2023-2, Class D, 6.30% 2/15/2031 <sup>(a)(d)</sup> <br>| 123 | 126 |
| Mercedes-Benz Auto Receivables Trust, Series 2023-2, Class A3, 5.95% 11/15/2028 <sup>(a)</sup> <br>| 874 | 887 |
| Nissan Auto Receivables Owner Trust, Series 2023-B, Class A3, 5.93% 3/15/2028 <sup>(a)</sup> <br>| 472 | 476 |
| Prestige Auto Receivables Trust, Series 2023-2, Class B, 6.64% 12/15/2027 <sup>(a)(d)</sup> <br>| 3857 | 3874 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class A2, 5.41% 7/15/2027 <sup>(a)</sup> <br>| 265 | 265 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class A3, 5.25% 4/17/2028 <sup>(a)</sup> <br>| 333 | 333 |
| Santander Drive Auto Receivables Trust, Series 2022-5, Class C, 4.74% 10/16/2028 <sup>(a)</sup> <br>| 409 | 409 |
| Santander Drive Auto Receivables Trust, Series 2023-4, Class B, 5.77% 12/15/2028 <sup>(a)</sup> <br>| 700 | 708 |
| SBNA Auto Lease Trust, Series 2024-A, Class A3, 5.39% 11/20/2026 <sup>(a)(d)</sup> <br>| 2758 | 2767 |
| SFS Auto Receivables Securitization Trust, Series 2023-1, Class A3, 5.47% 10/20/2028 <sup>(a)(d)</sup> <br>| 441 | 445 |
| SFS Auto Receivables Securitization Trust, Series 2023-1, Class A4, 5.47% 12/20/2029 <sup>(a)(d)</sup> <br>| 361 | 368 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class A3, 5.82% 5/17/2027 <sup>(a)(d)</sup> <br>| 1058 | 1059 |
| Westlake Automobile Receivables Trust, Series 2023-4, Class A3, 6.24% 7/15/2027 <sup>(a)(d)</sup> <br>| 2523 | 2532 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class B, 5.92% 9/15/2028 <sup>(a)(d)</sup> <br>| 1175 | 1181 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class C, 6.02% 9/15/2028 <sup>(a)(d)</sup> <br>| 2219 | 2250 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class D, 6.47% 3/15/2029 <sup>(a)(d)</sup> <br>| 1236 | 1271 |
| Wheels Fleet Lease Funding, LLC, Series 24-2A, Class A1, 4.87% 6/21/2039 <sup>(a)(d)</sup> <br>| 10778 | 10893 |
| Wheels Fleet Lease Funding, LLC, Series 2024-3A, Class A1, 4.80% 9/19/2039 <sup>(a)(d)</sup> <br>| 9375 | 9471 |
| World Omni Auto Receivables Trust, Series 2023-C, Class A3, 5.15% 11/15/2028 <sup>(a)</sup> <br>| 221 | 222 |
| World Omni Auto Receivables Trust, Series 2023-C, Class A4, 5.03% 11/15/2029 <sup>(a)</sup> <br>| 232 | 235 |
|  |  | 173303 |
| **Student loan 0.38%** |  |  |
| Navient Education Loan Trust, Series 2025-A, Class A, 5.02% 7/15/2055 <sup>(a)(d)</sup> <br>| 6799 | 6873 |
| Navient Student Loan Trust, Series 2021-CA, Class A, 1.06% 10/15/2069 <sup>(a)(d)</sup> <br>| 1522 | 1389 |
| Navient Student Loan Trust, Series 2021-EA, Class A, 0.97% 12/16/2069 <sup>(a)(d)</sup> <br>| 891 | 804 |
| Navient Student Loan Trust, Series 2021-G, Class A, 1.58% 4/15/2070 <sup>(a)(d)</sup> <br>| 569 | 515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nelnet Student Loan Trust, Series 2025-AA, Class A1B, (30-day Average USD-SOFR + 1.10%) 5.472% <br> 3/15/2057 <sup>(a)(b)(d)</sup> <br>| 15670 | 15630 |
| Nelnet Student Loan Trust, Series 2021-CA, Class AFX, 1.32% 4/20/2062 <sup>(a)(d)</sup> <br>| 153 | 143 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062 <sup>(a)(d)</sup> <br>| 2598 | 2454 |
| Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 4/20/2062 <sup>(a)(d)</sup> <br>| 5927 | 5610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nelnet Student Loan Trust, Series 2021-CA, Class AFL, (1-month USD CME Term SOFR + 0.854%) <br> 4.99% 4/20/2062 <sup>(a)(b)(d)</sup> <br>| 1961 | 1957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prodigy Finance DAC, Series 2021-1A, Class A, (1-month USD CME Term SOFR + 1.364%) 5.522% <br> 7/25/2051 <sup>(a)(b)(d)</sup> <br>| 160 | 160 |
| SMB Private Education Loan Trust, Series 2023-C, Class A1A, 5.67% 11/15/2052 <sup>(a)(d)</sup> <br>| 607 | 624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SMB Private Education Loan Trust, Series 2023-C, Class A1B, (30-day Average USD-SOFR + 1.55%) <br> 5.922% 11/15/2052 <sup>(a)(b)(d)</sup> <br>| 670 | 677 |
| SMB Private Education Loan Trust, Series 2025-A, Class A1A, 5.13% 4/15/2054 <sup>(a)(d)</sup> <br>| 6525 | 6651 |
|  |  | 43487 |
| **Credit card 0.22%** |  |  |
| Avant Credit Card Master Trust, Series 2024-2A, Class A, 5.38% 5/15/2029 <sup>(a)(d)</sup> <br>| 13550 | 13584 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class A, 4.78% 12/16/2030 <sup>(a)(d)</sup> <br>| 2416 | 2423 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.06% 9/15/2031 <sup>(a)(d)</sup> <br>| 8461 | 8486 |
|  |  | 24493 |

---

American Funds Insurance Series — Page 209 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Asset-backed obligations (continued)**<br> **Commercial mortgage backed securities 0.03%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| American Homes 4 Rent, Series 2015-SFR2, Class A, 3.732% 10/17/2052 <sup>(a)(d)</sup> <br>| USD2,605 | $2601 |
| American Homes 4 Rent, Series 2015-SFR2, Class B, 4.295% 10/17/2052 <sup>(a)(d)</sup> <br>| 396 | 395 |
|  |  | 2996 |
| **Collateralized loan obligations 0.00%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newark BSL CLO 2, Ltd., Series 2017-1A, Class A1R, (3-month USD CME Term SOFR + 1.232%) <br> 5.55% 7/25/2030 <sup>(a)(b)(d)</sup> <br>| 97 | 97 |
| **Total asset-backed obligations** |  | 543308 |
| **Bonds & notes of governments & government agencies outside the U.S. 1.81%**<br> **Mexico 1.13%**<br>|  |  |
| Eagle Funding LuxCo SARL 5.50% 8/17/2030 <sup>(d)</sup> <br>| 71695 | 72829 |
| United Mexican States 6.00% 5/13/2030  | 2960 | 3113 |
| United Mexican States 6.00% 5/7/2036  | 32486 | 33285 |
| United Mexican States 6.875% 5/13/2037  | 3200 | 3459 |
| United Mexican States 7.375% 5/13/2055  | 14311 | 15749 |
|  |  | 128435 |
| **Greece 0.46%** |  |  |
| Greece (Hellenic Republic of) 1.50% 6/18/2030  | EUR10,830 | 12085 |
| Greece (Hellenic Republic of) 0.75% 6/18/2031  | 9600 | 10057 |
| Greece (Hellenic Republic of) 4.25% 6/15/2033  | 23825 | 30107 |
|  |  | 52249 |
| **Japan 0.10%** |  |  |
| Japan, Series 86, 2.40% 3/20/2055  | JPY1,908,300 | 11256 |
| **Dominican Republic 0.08%** |  |  |
| Dominican Republic 5.95% 1/25/2027 <sup>(d)</sup> <br>| USD8,100 | 8256 |
| Dominican Republic (Government of) 7.05% 2/3/2031 <sup>(d)</sup> <br>| 680 | 734 |
|  |  | 8990 |
| **Colombia 0.02%** |  |  |
| Colombia (Republic of) 7.50% 2/2/2034  | 2530 | 2665 |
| **Poland 0.01%** |  |  |
| Poland (Republic of) 5.75% 11/16/2032  | 555 | 596 |
| Poland (Republic of), Series 10Y, 4.875% 10/4/2033  | 830 | 842 |
|  |  | 1438 |
| **Chile 0.01%** |  |  |
| Chile (Republic of) 4.00% 1/31/2052  | 580 | 459 |
| **Paraguay 0.00%** |  |  |
| Paraguay (Republic of) 5.00% 4/15/2026  | 285 | 286 |
| **Total bonds & notes of governments & government agencies outside the U.S.** |  | 205778 |
| **Municipals 1.43%**<br> **California 0.02%**<br>|  |  |
| GO Bonds, Series 2009, 7.50% 4/1/2034  | 2100 | 2466 |

---

American Funds Insurance Series — Page 210 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Municipals (continued)**<br> **Illinois 1.28%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2010-C, 6.319% <br>11/1/2029  | USD65 | $64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2009-E, 6.138% 12/1/<br> 2039  | 31050 | 29549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2010-D, 6.519% 12/1/<br> 2040  | 8945 | 8551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of Chicago, Board of Education, Unlimited Tax GO Bonds (Qualified School Construction Bonds), Series <br> 2009-G, 1.75% 12/15/2025  | 2500 | 2482 |
| GO Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033  | 102799 | 104641 |
|  |  | 145287 |
| **Massachusetts 0.07%** |  |  |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-A, 6.352% 7/1/2049  | 7500 | 7792 |
| **Texas 0.02%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, 3.236% <br>10/1/2052  | 4075 | 2877 |
| **Wisconsin 0.04%** |  |  |
| Public Fin. Auth., Federal Lease Rev. Bonds (Fort Sam Acquisition Fncg.), Series 2022, 4.95% 3/1/2034  | 4500 | 4454 |
| **Total municipals** |  | 162876 |
| **Federal agency bonds & notes 0.10%** |  |  |
| Fannie Mae 2.125% 4/24/2026  | 11910 | 11797 |
| **Total bonds, notes & other debt instruments** (cost: $10,927,809,000) |  | 10885539 |
| Common stocks 0.00%<br> **Energy 0.00%**<br>| Shares |  |
| FORESEA Holding SA, Class C, nonvoting shares <sup>(d)</sup>  | 555 | 13 |
| FORESEA Holding SA, Class B <sup>(d)</sup>  | 61 | 1 |
|  |  | 14 |
| **Total common stocks** (cost: $8,000) |  | 14 |
| Short-term securities 7.63%<br> **Money market investments 7.63%**<br>|  |  |
| Capital Group Central Cash Fund 4.17% <sup>(k)(l)</sup>  | 8684457 | 868446 |
| **Total short-term securities** (cost: $868,354,000) |  | 868446 |
| **Total investment securities 103.18%** (cost: $11,796,171,000) |  | 11753999 |
| Other assets less liabilities (3.18)% |  | (361725)<br>|
| **Net assets 100.00%** |  | $11392274 |

---

American Funds Insurance Series — Page 211 of 319

------

**unaudited**

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 3 Month SOFR Futures | Short | 7567 | 3/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD(1,822,039)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2566)<br>|
| 3 Month SOFR Futures | Long | 487 | 9/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (92)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 15512 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3232677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127 |
| 5 Year U.S. Treasury Note Futures | Long | 7599 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 829775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1582)<br>|
| 10 Year Euro-Bund Futures | Short | 350 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (52832)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (327)<br>|
| 10 Year Japanese Government Bond Futures | Short | 35 | 12/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (32138)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232 |
| 10 Year U.S. Treasury Note Futures | Long | 1496 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (236)<br>|
| 10 Year Ultra U.S. Treasury Note Futures | Short | 848 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (97586)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 533 |
| 20 Year U.S. Treasury Note Futures | Short | 10 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1166)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 3033 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8034 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $4126 |

---

Forward currency contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <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;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| USD | 12037 | INR | 1067766 | Citibank | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $16 |
| INR | 1067766 | USD | 12176 | Citibank | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (155)<br>|
| AUD | 18588 | USD | 12183 | Citibank | 10/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118 |
| EUR | 10855 | USD | 12761 | Citibank | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11)<br>|
| USD | 13922 | EUR | 11856 | Citibank | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| BRL | 24015 | USD | 4394 | JPMorgan Chase | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102 |
| EUR | 4860 | USD | 5715 | UBS AG | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| USD | 44774 | EUR | 38117 | Goldman Sachs | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27)<br>|
| USD | 28993 | JPY | 4227230 | Morgan Stanley | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344 |
| JPY | 3901364 | EUR | 22514 | BNP Paribas | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26)<br>|
| USD | 11649 | JPY | 1738295 | Morgan Stanley | 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (135)<br>|
| INR | 1067766 | USD | 12018 | Citibank | 10/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $196 |

---

Swap contracts

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| 4.4555% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/6/2025 | USD35,525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $19 |
| SOFR | Annual | 3.39981% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2027 | 88200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 |
| SOFR | Annual | 3.62% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/30/2027 | 40816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (137)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (137)<br>|
| 3.998% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/4/2028 | 40040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 792 |
| SOFR | Annual | 3.945% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/31/2029 | 20090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (415)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (415)<br>|
| SOFR | Annual | 3.3125% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | 11993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 |

---

American Funds Insurance Series — Page 212 of 319

------

**unaudited**

Swap contracts (continued)

------

**Interest rate swaps (continued)**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at<br> 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upfront<br> premium<br> paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(received)<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment<br> frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment<br> frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at<br> 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upfront<br> premium<br> paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(received)<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) |
| SOFR | Annual | 3.4445% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | USD6,052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(25)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(25)<br>|
| SOFR | Annual | 3.4805% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | 6052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30)<br>|
| SOFR | Annual | 3.552% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31)<br>|
| SOFR | Annual | 3.543% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | 6052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (45)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (45)<br>|
| SOFR | Annual | 3.455% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | 12103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49)<br>|
| SOFR | Annual | 3.551% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/7/2029 | 12103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (93)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (93)<br>|
| SOFR | Annual | 3.965% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/14/2029 | 30465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (718)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (718)<br>|
| SOFR | Annual | 3.9195% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2029 | 8240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (180)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (180)<br>|
| SOFR | Annual | 3.763% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2029 | 11790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (188)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (188)<br>|
| SOFR | Annual | 3.2015% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2030 | 29600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184 |
| SOFR | Annual | 3.4415% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2/28/2030 | 18470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (66)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (66)<br>|
| SOFR | Annual | 3.797% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2030 | 2774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (50)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (50)<br>|
| SOFR | Annual | 3.794% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2030 | 5301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (95)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (95)<br>|
| SOFR | Annual | 3.796% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2030 | 5301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (95)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (95)<br>|
| SOFR | Annual | 3.7815% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/31/2030 | 10484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (182)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (182)<br>|
| SOFR | Annual | 3.6065% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/12/2030 | 9910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (101)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (101)<br>|
| SOFR | Annual | 3.2175% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2030 | 15786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 |
| SOFR | Annual | 3.2385% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2030 | 8168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 |
| SOFR | Annual | 3.2145% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2030 | 3938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
| SOFR | Annual | 3.2155% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/18/2030 | 3938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
| SOFR | Annual | 3.4245% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8/15/2032 | 19850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65 |
| SOFR | Annual | 3.48% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2032 | 22935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 |
| SOFR | Annual | 3.482% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2032 | 22361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| SOFR | Annual | 3.4815% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2032 | 22954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| SOFR | Annual | 3.6025% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2034 | 16295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49)<br>|
| SOFR | Annual | 3.583% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5/15/2035 | 14970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60 |
| SOFR | Annual | 3.648% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10/2/2035 | 20270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| SOFR | Annual | 3.883% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2045 | 33965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384 |
| SOFR | Annual | 4.137% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2045 | 4100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (98)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (98)<br>|
| SOFR | Annual | 3.8475% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/15/2052 | 7340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(638)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(638)<br>|

---

**Bilateral interest rate swaps** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Counterparty | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>9/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 9/30/2025 <br>(000) |
| Rate | Payment <br>frequency<br>| Rate | Payment <br>frequency<br>| Counterparty | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>9/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 9/30/2025 <br>(000) |
| 14.5956% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2029 | BRL160,970 | $1390 | $— | $1390 |
| 14.24% | At maturity | BZDIOVER | At maturity | Barclays Bank <br> PLC<br>| 1/2/2029 | 88380 | 637 |  | 637 |
| 14.585% | At maturity | BZDIOVER | At maturity | Bank of America | 1/2/2029 | 19180 | 164 |  | 164 |
| 13.31% | At maturity | BZDIOVER | At maturity | BNP Paribas | 1/2/2029 | 76120 | (14)<br>|  | (14)<br>|
| 13.18% | At maturity | BZDIOVER | At maturity | Barclays Bank <br> PLC<br>| 1/2/2029 | 56000 | (43)<br>|  | (43)<br>|
| 13.04% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2029 | 41300 | (74)<br>|  | (74)<br>|
| 12.99% | At maturity | BZDIOVER | At maturity | Bank of America | 1/2/2029 | 36820 | (81)<br>|  | (81)<br>|
| 12.99% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2029 | 41300 | (91)<br>|  | (91)<br>|

---

American Funds Insurance Series — Page 213 of 319

------

**unaudited**

Swap contracts (continued)

------

**Interest rate swaps (continued)**

**Bilateral interest rate swaps (continued)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Counterparty | Expiration<br> date | Notional<br> amount<br> (000) | Value at<br> 9/30/2025<br> (000) | Upfront<br> premium<br> paid<br> (received)<br> (000) | Unrealized<br> appreciation<br> (depreciation)<br> at 9/30/2025<br> (000) |
| Rate | Payment<br> frequency<br>| Rate | Payment<br> frequency<br>| Counterparty | Expiration<br> date | Notional<br> amount<br> (000) | Value at<br> 9/30/2025<br> (000) | Upfront<br> premium<br> paid<br> (received)<br> (000) | Unrealized<br> appreciation<br> (depreciation)<br> at 9/30/2025<br> (000) |
| 13.05% | At maturity | BZDIOVER | At maturity | Barclays Bank <br> PLC<br>| 1/2/2029 | BRL77,000 | $(132)<br>| $— | $(132)<br>|
| 12.32% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2029 | 25300 | (182)<br>|  | (182)<br>|
| 12.365% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2029 | 38509 | (263)<br>|  | (263)<br>|
| 12.36% | At maturity | BZDIOVER | At maturity | Barclays Bank <br> PLC<br>| 1/2/2029 | 38753 | (266)<br>|  | (266)<br>|
| 12.3075% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2029 | 38500 | (281)<br>|  | (281)<br>|
| 12.36% | At maturity | BZDIOVER | At maturity | BNP Paribas | 1/2/2029 | 77020 | (529)<br>|  | (529)<br>|
| 12.35% | At maturity | BZDIOVER | At maturity | Barclays Bank <br> PLC<br>| 1/2/2029 | 76900 | (536)<br>|  | (536)<br>|
| 12.303% | At maturity | BZDIOVER | At maturity | BNP Paribas | 1/2/2029 | 75919 | (556)<br>|  | (556)<br>|
| 13.115% | At maturity | BZDIOVER | At maturity | BNP Paribas | 1/2/2031 | 19400 | (28)<br>|  | (28)<br>|
| 13.105% | At maturity | BZDIOVER | At maturity | BNP Paribas | 1/2/2031 | 19625 | (30)<br>|  | (30)<br>|
| 13.03% | At maturity | BZDIOVER | At maturity | Bank of America | 1/2/2031 | 41625 | (93)<br>|  | (93)<br>|
| 13.135% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2031 | 80500 | (102)<br>|  | (102)<br>|
|  |  |  |  |  |  |  | $(1110)<br>| $— | $(1110)<br>|

---

**Credit default swaps** 

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.HY.44 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | USD138,260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(11018)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(7703)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(3315)<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate received<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <sup>(m)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <sup>(n)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.45 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD<br> 47,760<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(14)<br>|

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 7.63%** | **Short-term securities 7.63%** | **Short-term securities 7.63%** | **Short-term securities 7.63%** | **Short-term securities 7.63%** | **Short-term securities 7.63%** | **Short-term securities 7.63%** | **Short-term securities 7.63%** |
| **Money market investments 7.63%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(k)</sup> <br>| $730121 | &nbsp;&nbsp; $3541305 | &nbsp;&nbsp; $3402978 | &nbsp;&nbsp; $201 | &nbsp;&nbsp; $(203)<br>| &nbsp;&nbsp; $868446 | &nbsp;&nbsp; $25096 |

---

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

American Funds Insurance Series — Page 214 of 319

------

**unaudited**

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

<sup>(d)</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 $1,874,668,000, which represented 16.46% of the net assets of the fund. 

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

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

<sup>(g)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $6,704,000, which represented 0.06% of the net assets of the fund. 

<sup>(h)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $68,192,000, which represented 0.60% of the net assets of the fund. 

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

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

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

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

<sup>(m)</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>(n)</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively. 

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

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| Assn. = Association |
| AUD = Australian dollars |
| Auth. = Authority |
| BRL = Brazilian reais |
| BZDIOVER = Overnight Brazilian Interbank Deposit Rate |
| CLO = Collateralized Loan Obligations |
| CME = CME Group |
| CMO = Collateralized Mortgage Obligations |
| DAC = Designated Activity Company |
| EUR = Euros |
| EURIBOR = Euro Interbank Offered Rate |
| Fin. = Finance |

---

---

| |
|:---|
| Fncg. = Financing |
| GO = General Obligation |
| ICE = Intercontinental Exchange, Inc. |
| INR = Indian rupees |
| JPY = Japanese yen |
| Ref. = Refunding |
| Rev. = Revenue |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

American Funds Insurance Series — Page 215 of 319

------

**Capital World Bond Fund**<sup>®</sup>

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 88.26%<br> **Euros 20.02%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| AIA Group, Ltd. 0.88% 9/9/2033 (5-year EUR Mid-Swap + 1.10% on 9/9/2028) <sup>(a)</sup>  | EUR2,800 | $3095 |
| Albania (Republic of) 4.75% 2/14/2035  | 2290 | 2715 |
| Alpha Bank SA 6.875% 6/27/2029 (1-year EUR-ICE Swap EURIBOR + 3.793% on 6/27/2028) <sup>(a)</sup>  | 500 | 650 |
| Alpha Bank SA 5.00% 5/12/2030 (1-year EUR-ICE Swap EURIBOR + 2.432% on 5/12/2029) <sup>(a)</sup>  | 100 | 125 |
| Altria Group, Inc. 3.125% 6/15/2031  | 800 | 929 |
| American Tower Corp. 0.45% 1/15/2027  | 2525 | 2892 |
| American Tower Corp. 0.875% 5/21/2029  | 1470 | 1607 |
| Amprion Gmbh 4.125% 9/7/2034  | 2600 | 3173 |
| Amprion Gmbh 3.875% 6/5/2036  | 1800 | 2131 |
| Anheuser-Busch InBev SA/NV 1.125% 7/1/2027  | 2000 | 2301 |
| AT&T, Inc. 1.60% 5/19/2028  | 2350 | 2692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco de Credito Social Cooperativo SA 4.125% 9/3/2030 (1-year EUR-ICE Swap EURIBOR + 1.70% on <br> 9/3/2029) <sup>(a)</sup>  | 1000 | 1214 |
| Banco de Sabadell SA 5.25% 2/7/2029 (1-year EUR Mid-Swap + 2.40% on 2/7/2028) <sup>(a)</sup>  | 900 | 1118 |
| Banco de Sabadell SA 5.50% 9/8/2029 (1-year EUR-ICE Swap EURIBOR + 2.40% on 9/8/2028) <sup>(a)</sup>  | 700 | 885 |
| Bank Gospodarstwa Krajowego 4.25% 9/13/2044  | 290 | 332 |
| Bank of America Corp. 3.648% 3/31/2029 (3-month EUR-EURIBOR + 3.67% on 3/31/2028) <sup>(a)(b)</sup>  | 5000 | 6006 |
| Banque Federative du Credit Mutuel 3.875% 6/16/2032 (5-year EUR Mid-Swap + 2.20% on 6/16/2027) <sup>(a)</sup>  | 2800 | 3337 |
| Belgium (Kingdom of), Series 100, 2.85% 10/22/2034  | 880 | 1007 |
| Belgium (Kingdom of), Series 88, 1.70% 6/22/2050  | 2730 | 2031 |
| Belgium (Kingdom of), Series 98, 3.30% 6/22/2054  | 880 | 886 |
| BPCE SA 4.50% 1/13/2033  | 1400 | 1741 |
| BPCE SA 4.875% 2/26/2036 (5-year EUR-ICE Swap EURIBOR + 2.30% on 2/26/2031) <sup>(a)</sup>  | 900 | 1113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; British American Tobacco PLC 3.00% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 3.372% on <br> 12/27/2026) <sup>(a)</sup>  | 4980 | 5847 |
| Bulgaria (Republic of) 3.375% 7/18/2035  | 1340 | 1546 |
| Coca-Cola Co. 3.375% 8/15/2037  | 155 | 180 |
| Commerzbank AG 4.625% 1/17/2031 (3-month EUR-EURIBOR + 2.10% on 1/17/2030) <sup>(a)</sup>  | 1900 | 2363 |
| Croatia (Republic of) 3.25% 2/11/2037  | 1005 | 1154 |
| Deutsche Bank AG 1.75% 11/19/2030 (3-month EUR-EURIBOR + 2.05% on 11/19/2029) <sup>(a)</sup>  | 4000 | 4441 |
| Deutsche Telekom AG 3.25% 6/4/2035  | 1990 | 2327 |
| Deutsche Telekom International Finance BV 7.50% 1/24/2033  | 200 | 300 |
| Dow Chemical Co. (The) 1.125% 3/15/2032  | 827 | 835 |
| Egypt (Arab Republic of) 5.625% 4/16/2030  | 300 | 336 |
| Electricite de France SA 4.25% 1/25/2032  | 1300 | 1604 |
| Electricite de France SA 4.00% 5/7/2037  | 500 | 587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electricite de France SA 2.625% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 2.86% on <br> 6/1/2028) <sup>(a)</sup>  | 1400 | 1603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electricite de France SA 7.50% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 4.86% on <br> 12/6/2028) <sup>(a)</sup>  | 1200 | 1549 |
| Enel Finance International NV 4.00% 2/20/2031  | 465 | 571 |
| Engie SA 3.875% 1/6/2031  | 1000 | 1215 |
| Equinor ASA 1.375% 5/22/2032  | 3650 | 3836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eurobank Ergasias Services and Holdings SA 10.00% 12/6/2032 (5-year EUR Mid-Swap + 7.588% on <br>12/6/2027) <sup>(a)</sup>  | 1090 | 1460 |
| Eurobank SA 5.875% 11/28/2029 (1-year EUR Mid-Swap + 2.83% on 11/28/2028) <sup>(a)</sup>  | 240 | 306 |

---

American Funds Insurance Series — Page 216 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Euros (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Eurobank SA 4.875% 4/30/2031 (5-year EUR Mid-Swap + 2.165% on 4/30/2030) <sup>(a)</sup>  | EUR2,030 | $2547 |
| Eurobank SA 4.00% 2/7/2036 (1-year EUR-ICE Swap EURIBOR + 1.70% on 2/7/2035) <sup>(a)</sup>  | 1375 | 1625 |
| European Investment Bank 0.25% 1/20/2032  | 2075 | 2100 |
| European Investment Bank 1.50% 6/15/2032  | 1000 | 1089 |
| European Investment Bank 2.875% 1/12/2033  | 4500 | 5330 |
| European Investment Bank 2.875% 1/15/2035  | 395 | 461 |
| European Union 0.25% 10/22/2026  | 610 | 703 |
| European Union 2.875% 12/6/2027  | 1060 | 1263 |
| European Union 2.875% 10/5/2029  | 170 | 203 |
| European Union 2.50% 10/14/2030  | 1165 | 1363 |
| European Union 3.125% 12/4/2030  | 190 | 229 |
| European Union 0% 7/4/2031  | 705 | 713 |
| European Union 2.75% 12/13/2032  | 575 | 672 |
| European Union 3.25% 7/4/2034  | 380 | 455 |
| European Union 0% 7/4/2035  | 220 | 192 |
| European Union 3.75% 10/12/2045  | 635 | 738 |
| European Union 0.70% 7/6/2051  | 3000 | 1736 |
| European Union 3.375% 10/5/2054  | 540 | 566 |
| European Union 4.00% 10/12/2055  | 2770 | 3227 |
| Finland (Republic of) 3.00% 9/15/2033  | 2370 | 2806 |
| Ford Motor Credit Co., LLC 3.622% 7/27/2028  | 960 | 1130 |
| French Republic O.A.T. 0.75% 2/25/2028  | 980 | 1111 |
| French Republic O.A.T. 2.75% 2/25/2029  | 1790 | 2121 |
| French Republic O.A.T. 0% 11/25/2030  | 19550 | 19944 |
| French Republic O.A.T. 0% 5/25/2032  | 2120 | 2041 |
| French Republic O.A.T. 2.00% 11/25/2032  | 3170 | 3461 |
| French Republic O.A.T. 3.00% 5/25/2033  | 1920 | 2225 |
| French Republic O.A.T. 3.00% 11/25/2034  | 4430 | 5040 |
| French Republic O.A.T. 0.50% 5/25/2040  | 600 | 441 |
| French Republic O.A.T. 0.75% 5/25/2052  | 180 | 95 |
| French Republic O.A.T. 3.75% 5/25/2056  | 400 | 421 |
| Germany (Federal Republic of) 0% 10/9/2026  | 2305 | 2653 |
| Germany (Federal Republic of) 0% 11/15/2027  | 1400 | 1576 |
| Germany (Federal Republic of) 0% 2/15/2030  | 16355 | 17445 |
| Germany (Federal Republic of) 2.50% 2/15/2035  | 13725 | 15893 |
| Germany (Federal Republic of) 1.00% 5/15/2038  | 1300 | 1218 |
| Germany (Federal Republic of) 0% 8/15/2050  | 1200 | 637 |
| Greece (Hellenic Republic of) 3.875% 6/15/2028  | 615 | 752 |
| Greece (Hellenic Republic of) 1.50% 6/18/2030  | 690 | 770 |
| Greece (Hellenic Republic of) 1.75% 6/18/2032  | 1915 | 2081 |
| Greece (Hellenic Republic of) 3.90% 1/30/2033  | 3200 | 3954 |
| Greece (Hellenic Republic of) 3.625% 6/15/2035  | 4385 | 5251 |
| Greece (Hellenic Republic of) 4.125% 6/15/2054  | 640 | 734 |
| Hungary (Republic of) 4.875% 3/22/2040  | 305 | 360 |
| ING Groep NV 5.25% 11/14/2033 (3-month EUR-EURIBOR + 2.15% on 11/14/2032) <sup>(a)</sup>  | 1200 | 1573 |
| Ireland (Republic of) 2.60% 10/18/2034  | 1820 | 2079 |
| Ireland (Republic of) 3.00% 10/18/2043  | 1130 | 1251 |
| Ireland (Republic of) 3.15% 10/18/2055  | 755 | 802 |
| Italy (Republic of) 3.10% 8/28/2026  | 3425 | 4059 |
| Italy (Republic of) 1.35% 4/1/2030  | 7 | 8 |
| Italy (Republic of) 2.70% 10/1/2030  | 1365 | 1596 |
| Italy (Republic of) 3.25% 11/15/2032  | 2595 | 3064 |
| Italy (Republic of) 4.20% 3/1/2034  | 1430 | 1789 |
| Italy (Republic of) 3.65% 8/1/2035  | 4445 | 5285 |
| Italy (Republic of) 3.85% 10/1/2040  | 2180 | 2530 |

---

American Funds Insurance Series — Page 217 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Euros (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Italy (Republic of) 4.30% 10/1/2054  | EUR4,245 | $4897 |
| Johnson & Johnson 3.35% 2/26/2037  | 360 | 419 |
| Lithuania (Republic of) 3.50% 7/3/2031  | 1170 | 1413 |
| Lithuania (Republic of) 3.50% 2/13/2034  | 1620 | 1916 |
| Lloyds Banking Group PLC 3.875% 5/14/2032 (1-year EUR-ICE Swap EURIBOR + 1.18% on 5/14/2031) <sup>(a)</sup>  | 100 | 121 |
| Magyar Export-Import Bank 6.00% 5/16/2029  | 1430 | 1818 |
| Metropolitan Life Global Funding I 0.55% 6/16/2027 <sup>(b)</sup>  | 2000 | 2279 |
| MPT Finance Corp. 7.00% 2/15/2032  | 100 | 123 |
| NatWest Group PLC 0.78% 2/26/2030 (3-month EUR-EURIBOR + 0.949% on 2/26/2029) <sup>(a)</sup>  | 2725 | 2978 |
| NatWest Group PLC 1.043% 9/14/2032 (5-year EUR Mid-Swap + 1.27% on 9/14/2027) <sup>(a)</sup>  | 185 | 210 |
| Ontario (Province of) 3.25% 7/3/2035  | 1120 | 1312 |
| PepsiCo, Inc. 0.75% 10/14/2033  | 2000 | 1949 |
| Philip Morris International, Inc. 2.75% 6/6/2029  | 770 | 900 |
| Piraeus Bank SA 6.75% 12/5/2029 (1-year EUR Mid-Swap + 3.837% on 12/5/2028) <sup>(a)</sup>  | 320 | 418 |
| Piraeus Bank SA 5.00% 4/16/2030 (1-year EUR-ICE Swap EURIBOR + 2.245% on 4/16/2029) <sup>(a)</sup>  | 730 | 913 |
| Portugal (Republic of) 0.475% 10/18/2030  | 350 | 373 |
| Portugal (Republic of) 2.875% 10/20/2034  | 1960 | 2273 |
| Portugal (Republic of) 3.00% 6/15/2035  | 2870 | 3338 |
| Portugal (Republic of) 3.50% 6/18/2038  | 3140 | 3723 |
| Portugal (Republic of) 3.375% 6/15/2040  | 715 | 822 |
| Portugal (Republic of) 3.625% 6/12/2054  | 685 | 761 |
| Prysmian SpA 3.875% 11/28/2031  | 435 | 527 |
| Quebec (Province of) 0.25% 5/5/2031  | 920 | 940 |
| Quebec (Province of) 0.50% 1/25/2032  | 1155 | 1172 |
| Quebec (Province of) 3.35% 7/23/2039  | 2525 | 2894 |
| Queensland Treasury Corp. 3.25% 5/21/2035  | 360 | 422 |
| Romania 2.125% 3/7/2028  | 500 | 571 |
| Severn Trent Utilities Finance PLC 4.00% 3/5/2034  | 475 | 573 |
| Shell International Finance BV 1.50% 4/7/2028  | 2000 | 2300 |
| Slovak Republic, Series 250, 3.75% 3/6/2034  | 640 | 774 |
| Spain (Kingdom of) 0% 1/31/2028  | 900 | 1005 |
| Spain (Kingdom of) 1.40% 7/30/2028  | 1650 | 1893 |
| Spain (Kingdom of) 1.45% 4/30/2029  | 1890 | 2151 |
| Spain (Kingdom of) 1.25% 10/31/2030  | 1295 | 1424 |
| Spain (Kingdom of) 0.50% 10/31/2031  | 1247 | 1283 |
| Spain (Kingdom of) 3.15% 4/30/2033  | 3647 | 4339 |
| Spain (Kingdom of) 3.55% 10/31/2033  | 5005 | 6095 |
| Spain (Kingdom of) 3.25% 4/30/2034  | 1980 | 2352 |
| Spain (Kingdom of) 3.45% 10/31/2034  | 500 | 601 |
| Spain (Kingdom of) 3.20% 10/31/2035  | 1795 | 2098 |
| Spain (Kingdom of) 1.90% 10/31/2052  | 1010 | 777 |
| State Grid Overseas Investment (2016), Ltd. 2.125% 5/2/2030  | 200 | 230 |
| Stryker Corp. 1.00% 12/3/2031  | 450 | 467 |
| T-Mobile USA, Inc. 3.15% 2/11/2032  | 1705 | 1990 |
| Toyota Motor Credit Corp. 0.125% 11/5/2027  | 1850 | 2068 |
| Treasury Corporation of Victoria 3.625% 9/29/2040  | 500 | 585 |
| United Mexican States 3.50% 9/19/2029  | 650 | 770 |
| Verallia SAS 3.875% 11/4/2032  | 4500 | 5282 |
| Verizon Communications, Inc. 3.50% 6/28/2032  | 1620 | 1926 |
|  |  | 297913 |
| **Japanese yen 8.51%** |  |  |
| Indonesia (Republic of), Series 20, 0.57% 5/27/2026  | JPY100,000 | 673 |
| Indonesia (Republic of), Series 31, 0.99% 5/27/2027  | 400000 | 2681 |
| Indonesia (Republic of), Series 32, 1.33% 5/25/2029  | 300000 | 1991 |

---

American Funds Insurance Series — Page 218 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Japanese yen (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Japan, Series 474, 0.70% 7/1/2027  | JPY762,850 | $5140 |
| Japan, Series 352, 0.10% 9/20/2028  | 314350 | 2068 |
| Japan, Series 356, 0.10% 9/20/2029  | 1029800 | 6681 |
| Japan, Series 116, 2.20% 3/20/2030  | 576100 | 4064 |
| Japan, Series 362, 0.10% 3/20/2031  | 514000 | 3261 |
| Japan, Series 374, 0.80% 3/20/2034  | 68200 | 434 |
| Japan, Series 152, 1.20% 3/20/2035  | 1239550 | 8073 |
| Japan, Series 21, 2.30% 12/20/2035  | 720000 | 5147 |
| Japan, Series 162, 0.60% 9/20/2037  | 1966150 | 11474 |
| Japan, Series 173, 0.40% 6/20/2040  | 270900 | 1423 |
| Japan, Series 179, 0.50% 12/20/2041  | 196950 | 1005 |
| Japan, Series 182, 1.10% 9/20/2042  | 619850 | 3444 |
| Japan, Series 186, 1.50% 9/20/2043  | 1341900 | 7815 |
| Japan, Series 188, 1.60% 3/20/2044  | 69000 | 405 |
| Japan, Series 192, 2.40% 3/20/2045  | 5545150 | 36531 |
| Japan, Series 53, 0.60% 12/20/2046  | 781600 | 3524 |
| Japan, Series 37, 0.60% 6/20/2050  | 694500 | 2801 |
| Japan, Series 73, 0.70% 12/20/2051  | 1568700 | 6201 |
| Japan, Series 74, 1.00% 3/20/2052  | 246100 | 1057 |
| Japan, Series 76, 1.40% 9/20/2052  | 5800 | 28 |
| Japan, Series 77, 1.60% 12/20/2052  | 53250 | 265 |
| Japan, Series 79, 1.20% 6/20/2053  | 612200 | 2722 |
| Japan, Series 81, 1.60% 12/20/2053  | 168700 | 830 |
| Japan, Series 84, 2.10% 9/20/2054  | 1245100 | 6869 |
|  |  | 126607 |
| **British pounds 4.29%** |  |  |
| Credit Agricole SA 5.375% 1/15/2029 (1-year GBP-GILT + 1.65% on 1/15/2028) <sup>(a)</sup>  | GBP800 | 1090 |
| Electricite de France SA 5.50% 3/27/2037  | 900 | 1137 |
| Lloyds Banking Group PLC 2.707% 12/3/2035 (5-year GBP-GILT + 2.40% on 12/3/2030) <sup>(a)</sup>  | 900 | 1066 |
| Quebec (Province of) 2.25% 9/15/2026  | 1870 | 2471 |
| United Kingdom 0.125% 1/30/2026  | 425 | 566 |
| United Kingdom 4.25% 12/7/2027  | 3785 | 5136 |
| United Kingdom 1.625% 10/22/2028  | 3690 | 4646 |
| United Kingdom 4.125% 7/22/2029  | 2015 | 2715 |
| United Kingdom 4.75% 12/7/2030  | 4770 | 6611 |
| United Kingdom 0.25% 7/31/2031  | 12845 | 13845 |
| United Kingdom 1.00% 1/31/2032  | 7120 | 7847 |
| United Kingdom 4.25% 6/7/2032  | 1310 | 1758 |
| United Kingdom 3.25% 1/31/2033  | 1090 | 1356 |
| United Kingdom 0.625% 7/31/2035  | 210 | 193 |
| United Kingdom 0.875% 1/31/2046  | 4917 | 2947 |
| United Kingdom 3.75% 10/22/2053  | 1870 | 1883 |
| United Kingdom 4.375% 7/31/2054  | 5570 | 6269 |
| United Kingdom 2.50% 7/22/2065  | 3313 | 2361 |
|  |  | 63897 |
| **Brazilian reais 2.30%** |  |  |
| Brazil (Federative Republic of) 0% 1/1/2026  | BRL102,863 | 18656 |
| Brazil (Federative Republic of) 10.00% 1/1/2031  | 17384 | 2857 |
| Brazil (Federative Republic of) 10.00% 1/1/2035  | 43767 | 6729 |
| Brazil (Federative Republic of) 6.00% 8/15/2040 <sup>(c)</sup>  | 2170 | 356 |

---

American Funds Insurance Series — Page 219 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Brazilian reais (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Brazil (Federative Republic of) 6.00% 8/15/2050 <sup>(c)</sup>  | BRL27,323 | $4375 |
| Brazil (Federative Republic of) 6.00% 8/15/2060 <sup>(c)</sup>  | 8086 | 1273 |
|  |  | 34246 |
| **South Korean won 1.62%** |  |  |
| South Korea (Republic of), Series 2709, 3.125% 9/10/2027  | KRW4,513,500 | 3251 |
| South Korea (Republic of), Series 2712, 2.375% 12/10/2027  | 5158930 | 3662 |
| South Korea (Republic of), Series 2803, 3.25% 3/10/2028  | 3998100 | 2894 |
| South Korea (Republic of), Series 3212, 4.25% 12/10/2032  | 18379880 | 14236 |
|  |  | 24043 |
| **Australian dollars 1.61%** |  |  |
| Australia (Commonwealth of), Series 157, 1.50% 6/21/2031  | AUD3,640 | 2124 |
| Australia (Commonwealth of), Series 163, 1.00% 11/21/2031  | 5789 | 3233 |
| Australia (Commonwealth of), Series 167, 3.75% 5/21/2034  | 4415 | 2830 |
| New South Wales Treasury Corp. 5.25% 2/24/2038  | 3956 | 2635 |
| Treasury Corporation of Victoria 5.50% 9/15/2039  | 19544 | 13068 |
|  |  | 23890 |
| **Indian rupees 1.38%** |  |  |
| Asian Development Bank 6.72% 2/8/2028  | INR144,700 | 1640 |
| European Bank for Reconstruction and Development 5.25% 1/12/2027  | 81400 | 907 |
| European Bank for Reconstruction and Development 6.30% 10/26/2027  | 34000 | 382 |
| European Bank for Reconstruction and Development 6.75% 3/14/2031  | 248500 | 2790 |
| European Bank for Reconstruction and Development 6.75% 1/13/2032  | 650500 | 7332 |
| European Investment Bank 6.95% 3/1/2029  | 46200 | 524 |
| European Investment Bank 7.40% 10/23/2033  | 388300 | 4555 |
| Inter-American Development Bank 7.00% 1/25/2029  | 18000 | 205 |
| International Bank for Reconstruction and Development 6.75% 9/8/2027  | 126400 | 1432 |
| Korea Development Bank 6.75% 7/1/2030  | 73000 | 811 |
|  |  | 20578 |
| **Chinese yuan renminbi 1.36%** |  |  |
| China (People's Republic of), Series INBK, 2.75% 2/17/2032  | CNY1,160 | 173 |
| China (People's Republic of), Series INBK, 1.57% 5/15/2032  | 17280 | 2398 |
| China (People's Republic of), Series INBK, 2.88% 2/25/2033  | 22230 | 3367 |
| China (People's Republic of), Series INBK, 2.27% 5/25/2034  | 54910 | 7978 |
| China (People's Republic of), Series INBK, 3.53% 10/18/2051  | 800 | 141 |
| China (People's Republic of), Series INBK, 3.12% 10/25/2052  | 4740 | 780 |
| China (People's Republic of), Series INBK, 3.19% 4/15/2053  | 4720 | 789 |
| China (People's Republic of), Series INBK, 3.00% 10/15/2053  | 5150 | 837 |
| China (People's Republic of), Series INBK, 1.92% 1/15/2055  | 28690 | 3742 |
|  |  | 20205 |
| **Canadian dollars 1.25%** |  |  |
| Canada (Government) 3.50% 3/1/2028  | CAD15,013 | 11038 |
| Canada (Government) 3.25% 12/1/2033  | 7330 | 5341 |
| Canada (Government) 2.75% 12/1/2048  | 3500 | 2187 |
|  |  | 18566 |
| **Malaysian ringgits 1.18%** |  |  |
| Malaysia (Federation of), Series 0419, 3.828% 7/5/2034  | MYR5,412 | 1322 |
| Malaysia (Federation of), Series 0124, 4.054% 4/18/2039  | 6143 | 1519 |
| Malaysia (Federation of), Series 0519, 3.757% 5/22/2040  | 10588 | 2525 |
| Malaysia (Federation of), Series 0221, 4.417% 9/30/2041  | 2484 | 638 |

---

American Funds Insurance Series — Page 220 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Malaysian ringgits (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Malaysia (Federation of), Series 0223, 4.291% 8/14/2043  | MYR9,030 | $2280 |
| Malaysia (Federation of), Series 0224, 4.18% 5/16/2044  | 35614 | 8874 |
| Malaysia (Federation of), Series 0417, 4.895% 5/8/2047  | 1277 | 348 |
|  |  | 17506 |
| **Indonesian rupiah 0.52%** |  |  |
| Indonesia (Republic of), Series 84, 7.25% 2/15/2026  | IDR22,733,000 | 1376 |
| Indonesia (Republic of), Series 64, 6.125% 5/15/2028  | 1556000 | 96 |
| Indonesia (Republic of), Series 71, 9.00% 3/15/2029  | 26010000 | 1742 |
| Indonesia (Republic of), Series 82, 7.00% 9/15/2030  | 2930000 | 187 |
| Indonesia (Republic of), Series 100, 6.625% 2/15/2034  | 29412000 | 1800 |
| Indonesia (Republic of), Series 68, 8.375% 3/15/2034  | 6937000 | 473 |
| Indonesia (Republic of). Series 103, 6.75% 7/15/2035  | 32954000 | 2034 |
|  |  | 7708 |
| **Mexican pesos 0.46%** |  |  |
| America Movil, SAB de CV, 10.125% 1/22/2029  | MXN13,920 | 792 |
| America Movil, SAB de CV, 9.50% 1/27/2031  | 41870 | 2350 |
| America Movil, SAB de CV, 10.30% 1/30/2034  | 19710 | 1149 |
| United Mexican States, Series M30, 8.50% 11/18/2038  | 21100 | 1109 |
| United Mexican States, Series M, 8.00% 7/31/2053  | 21739 | 1034 |
| United Mexican States, Series S, 4.00% 10/29/2054 <sup>(c)</sup>  | 7785 | 395 |
|  |  | 6829 |
| **Danish kroner 0.43%** |  |  |
| Nykredit Realkredit AS, Series 01E, 0.50% 10/1/2043 <sup>(d)</sup>  | DKK47,377 | 6169 |
| Realkredit Danmark AS 1.00% 10/1/2053 <sup>(d)</sup>  | 2482 | 305 |
|  |  | 6474 |
| **Colombian pesos 0.31%** |  |  |
| Colombia (Republic of), Series B, 7.25% 10/18/2034  | COP17,270,900 | 3412 |
| Colombia (Republic of), Series B, 7.25% 10/26/2050  | 7150600 | 1177 |
|  |  | 4589 |
| **Polish zloty 0.26%** |  |  |
| Poland (Republic of), Series 1029, 2.75% 10/25/2029  | PLN4,900 | 1256 |
| Poland (Republic of), Series 1033, 6.00% 10/25/2033  | 9280 | 2678 |
|  |  | 3934 |
| **South African rand 0.26%** |  |  |
| South Africa (Republic of), Series R-2030, 8.00% 1/31/2030  | ZAR8,400 | 489 |
| South Africa (Republic of), Series R-2032, 8.25% 3/31/2032  | 59870 | 3423 |
|  |  | 3912 |
| **Chilean pesos 0.18%** |  |  |
| Chile (Republic of) 1.50% 3/1/2026 <sup>(c)</sup>  | CLP908,170 | 947 |
| Chile (Republic of) 5.00% 10/1/2028  | 955000 | 992 |
| Chile (Republic of) 6.00% 4/1/2033  | 675000 | 722 |
|  |  | 2661 |
| **Turkish lira 0.13%** |  |  |
| Turkey (Republic of), Series 5Y, 12.60% 10/1/2025  | TRY73,785 | 1776 |
| Turkey (Republic of), Series 10Y, 17.80% 7/13/2033  | 12175 | 194 |
|  |  | 1970 |

---

American Funds Insurance Series — Page 221 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **New Zealand dollars 0.07%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| New Zealand 3.25% 9/20/2050 <sup>(c)</sup>  | NZD1,716 | $1022 |
| **Czech korunas 0.06%** |  |  |
| Czech Republic 6.00% 2/26/2026  | CZK17,550 | 856 |
| **Philippine pesos 0.03%** |  |  |
| Asian Development Bank 5.25% 4/29/2035  | PHP28,000 | 484 |
| **U.S. dollars 42.03%** |  |  |
| 1261229 B.C., Ltd. 10.00% 4/15/2032 <sup>(e)</sup>  | USD200 | 205 |
| AAR Escrow Issuer, LLC 6.75% 3/15/2029 <sup>(e)</sup>  | 27 | 28 |
| AbbVie, Inc. 5.05% 3/15/2034  | 2790 | 2872 |
| AbbVie, Inc. 5.35% 3/15/2044  | 75 | 75 |
| AbbVie, Inc. 5.50% 3/15/2064  | 150 | 150 |
| ACHV ABS Trust, Series 2024-3AL, Class C, 5.68% 12/26/2031 <sup>(d)(e)</sup>  | 63 | 64 |
| Advance Auto Parts, Inc. 5.95% 3/9/2028  | 45 | 46 |
| AerCap Ireland Capital DAC 2.45% 10/29/2026  | 2102 | 2066 |
| Aero Capital Solutions, Inc., Term Loan, (1-month USD CME Term SOFR + 3.00%) 7.61% 11/17/2029 <sup>(e)(f)(g)(h)</sup>  | 466 | 462 |
| Aeropuerto Internacional de Tocumen SA 5.125% 8/11/2061 <sup>(e)</sup>  | 660 | 527 |
| AG Issuer, LLC 6.25% 3/1/2028 <sup>(e)</sup>  | 165 | 165 |
| AIB Group PLC 6.608% 9/13/2029 (USD-SOFR + 2.33% on 9/13/2028) <sup>(a)(e)</sup>  | 1147 | 1218 |
| AIB Group PLC 5.871% 3/28/2035 (USD-SOFR + 1.91% on 3/28/2034) <sup>(a)(e)</sup>  | 2985 | 3142 |
| Albertsons Cos., Inc. 3.50% 3/15/2029 <sup>(e)</sup>  | 140 | 133 |
| Albion Financing 1 SARL 7.00% 5/21/2030 <sup>(e)</sup>  | 200 | 207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alera Group Intermediate Holdings, Inc., Term Loan, (3-month USD CME Term SOFR + 5.50%) 9.663% <br>5/30/2033 <sup>(g)(h)</sup>  | 65 | 67 |
| Alfa Transmisora De Energia SA 4.55% 9/27/2051  | 1295 | 1037 |
| Allegro CLO, Ltd., Series 2019-1, Class ARR, (3-month USD CME Term SOFR + 1.13%) 5.455% 4/20/2032 <sup>(d)(e)(h)</sup>  | 425 | 425 |
| Alliance Resource Operating Partners, LP 8.625% 6/15/2029 <sup>(e)</sup>  | 50 | 53 |
| Alliant Holdings Intermediate, LLC 6.75% 10/15/2027 <sup>(e)</sup>  | 145 | 145 |
| Alliant Holdings Intermediate, LLC 5.875% 11/1/2029 <sup>(e)</sup>  | 120 | 120 |
| Alliant Holdings Intermediate, LLC 7.00% 1/15/2031 <sup>(e)</sup>  | 180 | 186 |
| Alliant Holdings Intermediate, LLC 6.50% 10/1/2031 <sup>(e)</sup>  | 65 | 67 |
| Alliant Holdings Intermediate, LLC 7.375% 10/1/2032 <sup>(e)</sup>  | 70 | 72 |
| Allied Universal Holdco, LLC 6.00% 6/1/2029 <sup>(e)</sup>  | 300 | 295 |
| Allwyn Entertainment Financing (UK) PLC 7.875% 4/30/2029 <sup>(e)</sup>  | 200 | 208 |
| Amazon.com, Inc. 1.50% 6/3/2030  | 2040 | 1829 |
| Amentum Holdings, Inc. 7.25% 8/1/2032 <sup>(e)</sup>  | 98 | 102 |
| Amer Sports Co. 6.75% 2/16/2031 <sup>(e)</sup>  | 35 | 36 |
| American Electric Power Co., Inc. 1.00% 11/1/2025  | 250 | 249 |
| American Express Co. 5.532% 4/25/2030 (USD-SOFR + 1.09% on 4/25/2029) <sup>(a)</sup>  | 1030 | 1077 |
| Amgen, Inc. 2.20% 2/21/2027  | 445 | 434 |
| Amgen, Inc. 5.25% 3/2/2030  | 981 | 1017 |
| Amgen, Inc. 5.25% 3/2/2033  | 2687 | 2784 |
| Amgen, Inc. 5.65% 3/2/2053  | 1284 | 1282 |
| Angola (Republic of) 9.50% 11/12/2025  | 4225 | 4245 |
| Anywhere Real Estate Group, LLC 5.75% 1/15/2029 <sup>(e)</sup>  | 110 | 106 |
| Anywhere Real Estate Group, LLC 5.25% 4/15/2030 <sup>(e)</sup>  | 115 | 107 |
| AP Core Holdings II, LLC, Term Loan B, (3-month USD CME Term SOFR + 5.50%) 9.778% 9/1/2027 <sup>(g)(h)</sup>  | 95 | 93 |
| Apollo Aviation Securitization Equity Trust, Series 2025-2A, Class A, 5.522% 2/16/2050 <sup>(d)(e)</sup>  | 976 | 988 |
| Apollo Aviation Securitization Equity Trust, Series 25-1A, Class A, 5.943% 2/16/2050 <sup>(d)(e)</sup>  | 548 | 561 |
| Apple Bidco, LLC, Term Loan, (3-month USD CME Term SOFR + 2.50%) 6.663% 9/23/2031 <sup>(g)(h)</sup>  | 144 | 145 |

---

American Funds Insurance Series — Page 222 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Aretec Group, Inc. 7.50% 4/1/2029 <sup>(e)</sup>  | USD245 | $246 |
| Aretec Group, Inc. 10.00% 8/15/2030 <sup>(e)</sup>  | 50 | 55 |
| Arivo Acceptance Auto Loan Receivables Trust, Series 2025-1A, Class A2, 4.92% 5/15/2029 <sup>(d)(e)</sup>  | 282 | 282 |
| Ascent Resources Utica Holdings, LLC 5.875% 6/30/2029 <sup>(e)</sup>  | 55 | 55 |
| Ascent Resources Utica Holdings, LLC 6.625% 10/15/2032 <sup>(e)</sup>  | 25 | 26 |
| Ascent Resources Utica Holdings, LLC 6.625% 7/15/2033 <sup>(e)</sup>  | 15 | 15 |
| AT&T, Inc. 3.50% 9/15/2053  | 2070 | 1433 |
| ATI, Inc. 7.25% 8/15/2030  | 60 | 63 |
| Avantor Funding, Inc. 3.875% 11/1/2029 <sup>(e)</sup>  | 122 | 116 |
| Avient Corp. 6.25% 11/1/2031 <sup>(e)</sup>  | 25 | 25 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-2, Class A, 5.20% 10/20/2027 <sup>(d)(e)</sup>  | 1817 | 1833 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/2029 <sup>(d)(e)</sup>  | 996 | 1039 |
| B&G Foods, Inc. 5.25% 9/15/2027  | 210 | 203 |
| B&G Foods, Inc. 8.00% 9/15/2028 <sup>(e)</sup>  | 25 | 24 |
| BAE Systems PLC 5.30% 3/26/2034 <sup>(e)</sup>  | 865 | 897 |
| Baldwin Insurance Group Holdings, LLC 7.125% 5/15/2031 <sup>(e)</sup>  | 20 | 21 |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class AS, 7.274% 12/15/2056 <sup>(d)(h)</sup>  | 219 | 234 |
| Bank Gospodarstwa Krajowego 5.75% 7/9/2034 <sup>(e)</sup>  | 950 | 1003 |
| Bank Gospodarstwa Krajowego 6.25% 7/9/2054 <sup>(e)</sup>  | 425 | 444 |
| Bank of America Corp. 2.299% 7/21/2032 (USD-SOFR + 1.22% on 7/21/2031) <sup>(a)</sup>  | 4040 | 3585 |
| Bank of America Corp. 5.464% 5/9/2036 (USD-SOFR + 1.64% on 5/9/2035) <sup>(a)</sup>  | 1535 | 1601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of East Asia, Ltd. 5.825% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 5.527% on 10/21/2025) <sup>(a)</sup>  | 640 | 640 |
| BAT Capital Corp. 3.215% 9/6/2026  | 955 | 948 |
| BAT Capital Corp. 4.625% 3/22/2033  | 188 | 186 |
| BAT Capital Corp. 5.625% 8/15/2035  | 5501 | 5719 |
| Bath & Body Works, Inc. 6.625% 10/1/2030 <sup>(e)</sup>  | 120 | 123 |
| Bath & Body Works, Inc. 6.875% 11/1/2035  | 75 | 78 |
| Baytex Energy Corp. 7.375% 3/15/2032 <sup>(e)</sup>  | 85 | 83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BBVA Bancomer SA 8.45% 6/29/2038 (5-year UST Yield Curve Rate T Note Constant Maturity + 4.661% on <br> 6/29/2033) <sup>(a)</sup>  | 3056 | 3393 |
| Becton, Dickinson and Co. 4.298% 8/22/2032  | 320 | 315 |
| Biocon Biologics Global PLC 6.67% 10/9/2029 <sup>(e)</sup>  | 2595 | 2522 |
| BIP-V Chinook Holdco, LLC 5.50% 6/15/2031 <sup>(e)</sup>  | 400 | 397 |
| Block, Inc. 5.625% 8/15/2030 <sup>(e)</sup>  | 40 | 41 |
| Block, Inc. 6.50% 5/15/2032  | 240 | 249 |
| BMO Mortgage Trust, Series 2024-5C8, Class AS, 5.94% 12/15/2057 <sup>(d)(h)</sup>  | 1070 | 1114 |
| BMW US Capital, LLC 4.15% 4/9/2030 <sup>(e)</sup>  | 900 | 894 |
| BNP Paribas SA 2.159% 9/15/2029 (USD-SOFR + 1.218% on 9/15/2028) <sup>(a)(e)</sup>  | 700 | 657 |
| BNP Paribas SA 2.871% 4/19/2032 (USD-SOFR + 1.387% on 4/19/2031) <sup>(a)(e)</sup>  | 1275 | 1159 |
| Boeing Co. (The) 6.259% 5/1/2027  | 45 | 46 |
| Boeing Co. (The) 5.15% 5/1/2030  | 2451 | 2516 |
| Boeing Co. (The) 3.625% 2/1/2031  | 718 | 688 |
| Boeing Co. (The) 6.388% 5/1/2031  | 723 | 788 |
| Boeing Co. (The) 6.528% 5/1/2034  | 457 | 506 |
| Boeing Co. (The) 5.805% 5/1/2050  | 50 | 50 |
| Boeing Co. (The) 6.858% 5/1/2054  | 526 | 600 |
| Bombardier, Inc. 7.125% 6/15/2026 <sup>(e)</sup>  | 16 | 16 |
| Boost Newco Borrower, LLC 7.50% 1/15/2031 <sup>(e)</sup>  | 25 | 27 |
| Borr IHC, Ltd. 10.00% 11/15/2028 <sup>(e)</sup>  | 289 | 288 |
| Boyd Gaming Corp. 4.75% 6/15/2031 <sup>(e)</sup>  | 45 | 43 |
| Boyne USA, Inc. 4.75% 5/15/2029 <sup>(e)</sup>  | 107 | 105 |
| BPCE SA 6.293% 1/14/2036 (USD-SOFR + 2.04% on 1/14/2035) <sup>(a)(e)</sup>  | 2050 | 2195 |
| Braskem Netherlands Finance BV 4.50% 1/31/2030  | 2228 | 841 |
| Braskem Netherlands Finance BV 8.50% 1/12/2031  | 2329 | 910 |

---

American Funds Insurance Series — Page 223 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Braskem Netherlands Finance BV 8.50% 1/12/2031 <sup>(e)</sup>  | USD525 | $205 |
| Braskem Netherlands Finance BV 7.25% 2/13/2033  | 793 | 305 |
| BRAVO Residential Funding Trust, Series 2025-NQM5, Class A1, 5.496% 2/25/2065 (6.496% on 5/1/2027) <sup>(a)(d)(e)</sup>  | 1508 | 1521 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 1925 | 1997 |
| Bristol-Myers Squibb Co. 5.55% 2/22/2054  | 2200 | 2194 |
| Broadcom, Inc. 4.00% 4/15/2029 <sup>(e)</sup>  | 250 | 249 |
| Broadcom, Inc. 3.469% 4/15/2034 <sup>(e)</sup>  | 746 | 681 |
| Broadcom, Inc. 3.137% 11/15/2035 <sup>(e)</sup>  | 185 | 160 |
| Broadcom, Inc. 4.80% 2/15/2036  | 3453 | 3444 |
| Brookfield Property REIT, Inc. 5.75% 5/15/2026 <sup>(e)</sup>  | 63 | 63 |
| Brown & Brown, Inc. 5.25% 6/23/2032  | 100 | 103 |
| Brown & Brown, Inc. 6.25% 6/23/2055  | 70 | 74 |
| Buffalo Energy Mexico Holdings, SA de CV, 7.875% 2/15/2039 <sup>(e)</sup>  | 424 | 459 |
| Burlington Northern Santa Fe, LLC 5.50% 3/15/2055  | 232 | 233 |
| BWX Technologies, Inc. 4.125% 4/15/2029 <sup>(e)</sup>  | 175 | 170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 4.965% <br> 9/15/2036 <sup>(d)(e)(h)</sup>  | 1269 | 1266 |
| BX Trust, Series 2025-BIO3, Class A, 6.138% 2/10/2042 <sup>(d)(e)</sup>  | 1724 | 1781 |
| Caesars Entertainment, Inc. 7.00% 2/15/2030 <sup>(e)</sup>  | 64 | 66 |
| Caesars Entertainment, Inc. 6.50% 2/15/2032 <sup>(e)</sup>  | 45 | 46 |
| CaixaBank SA 5.673% 3/15/2030 (USD-SOFR + 1.78% on 3/15/2029) <sup>(a)(e)</sup>  | 1633 | 1694 |
| CaixaBank SA 6.84% 9/13/2034 (USD-SOFR + 2.77% on 9/13/2033) <sup>(a)(e)</sup>  | 200 | 223 |
| CaixaBank SA 6.037% 6/15/2035 (USD-SOFR + 2.26% on 9/15/2034) <sup>(a)(e)</sup>  | 200 | 213 |
| California Resources Corp. 7.125% 2/1/2026 <sup>(e)</sup>  | 50 | 50 |
| Canadian Pacific Railway Co. 3.00% 12/2/2041  | 349 | 262 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 1085 | 736 |
| CAN-PACK SA 3.875% 11/15/2029 <sup>(e)</sup>  | 90 | 85 |
| Carnival Corp. 6.00% 5/1/2029 <sup>(e)</sup>  | 100 | 102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cascade Funding Mortgage Trust, Series 2024-NR1, Class A1, 6.405% 11/25/2029 (9.405% on <br>11/25/2027) <sup>(a)(d)(e)</sup>  | 157 | 159 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class M1, 4.00% 8/25/2034 <sup>(d)(e)(h)</sup>  | 614 | 605 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(d)(e)(h)</sup>  | 100 | 100 |
| Castlelake Aircraft Securitization Trust, Series 2025-1A, Class A, 5.783% 2/15/2050 <sup>(d)(e)</sup>  | 818 | 831 |
| Caturus Energy, LLC 8.50% 2/15/2030 <sup>(e)</sup>  | 15 | 16 |
| CCO Holdings, LLC 5.125% 5/1/2027 <sup>(e)</sup>  | 125 | 124 |
| CCO Holdings, LLC 4.75% 3/1/2030 <sup>(e)</sup>  | 135 | 130 |
| CCO Holdings, LLC 4.50% 8/15/2030 <sup>(e)</sup>  | 240 | 227 |
| CCO Holdings, LLC 4.25% 2/1/2031 <sup>(e)</sup>  | 155 | 143 |
| CCO Holdings, LLC 4.50% 6/1/2033 <sup>(e)</sup>  | 147 | 131 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(e)</sup>  | 55 | 48 |
| Centene Corp. 2.45% 7/15/2028  | 40 | 37 |
| Centene Corp. 4.625% 12/15/2029  | 35 | 34 |
| Centene Corp. 2.50% 3/1/2031  | 65 | 56 |
| Central Garden & Pet Co. 4.125% 10/15/2030  | 74 | 70 |
| Central Garden & Pet Co. 4.125% 4/30/2031 <sup>(e)</sup>  | 110 | 103 |
| Charter Communications Operating, LLC 3.75% 2/15/2028  | 2650 | 2610 |
| Charter Communications Operating, LLC 5.85% 12/1/2035  | 641 | 647 |
| Charter Communications Operating, LLC 4.80% 3/1/2050  | 384 | 304 |
| Charter Communications Operating, LLC 3.70% 4/1/2051  | 188 | 124 |
| Charter Communications Operating, LLC 3.90% 6/1/2052  | 458 | 310 |
| Charter Communications Operating, LLC 5.25% 4/1/2053  | 17 | 14 |
| Charter Communications Operating, LLC 6.70% 12/1/2055  | 168 | 170 |
| Cheniere Energy Partners, LP 3.25% 1/31/2032  | 26 | 24 |
| China Oil and Gas Group, Ltd. 4.70% 6/30/2026  | 1130 | 1123 |
| Chubb INA Holdings, LLC 3.35% 5/3/2026  | 195 | 194 |

---

American Funds Insurance Series — Page 224 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Chubb INA Holdings, LLC 4.35% 11/3/2045  | USD425 | $375 |
| Cisco Systems, Inc. 5.10% 2/24/2035  | 990 | 1024 |
| Citigroup Commercial Mortgage Trust, Series 2023-PRM3, Class A, 6.36% 7/10/2028 <sup>(d)(e)(h)</sup>  | 805 | 840 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(d)(e)(h)</sup>  | 1240 | 1279 |
| Citizens Financial Group, Inc. 5.718% 7/23/2032 (USD-SOFR + 1.91% on 7/23/2031) <sup>(a)</sup>  | 421 | 440 |
| Civitas Resources, Inc. 8.75% 7/1/2031 <sup>(e)</sup>  | 90 | 92 |
| Civitas Resources, Inc. 9.625% 6/15/2033 <sup>(e)</sup>  | 15 | 16 |
| Clarivate Science Holdings Corp. 3.875% 7/1/2028 <sup>(e)</sup>  | 45 | 43 |
| Clarivate Science Holdings Corp. 4.875% 7/1/2029 <sup>(e)</sup>  | 5 | 5 |
| Cleveland-Cliffs, Inc. 6.875% 11/1/2029 <sup>(e)</sup>  | 100 | 102 |
| Cleveland-Cliffs, Inc. 4.875% 3/1/2031 <sup>(e)</sup>  | 75 | 70 |
| Cloud Software Group, Inc. 6.50% 3/31/2029 <sup>(e)</sup>  | 235 | 237 |
| Cloud Software Group, Inc. 9.00% 9/30/2029 <sup>(e)</sup>  | 175 | 182 |
| CMS Energy Corp. 3.00% 5/15/2026  | 1200 | 1191 |
| CNX Resources Corp. 7.25% 3/1/2032 <sup>(e)</sup>  | 110 | 114 |
| Coca-Cola Co. 4.65% 8/14/2034  | 336 | 342 |
| Coinbase Global, Inc. 3.375% 10/1/2028 <sup>(e)</sup>  | 55 | 52 |
| Coinbase Global, Inc. 3.625% 10/1/2031 <sup>(e)</sup>  | 85 | 76 |
| Colombia (Republic of) 3.875% 4/25/2027  | 350 | 348 |
| Colombia (Republic of) 7.375% 4/25/2030  | 2400 | 2558 |
| Colombia (Republic of) 3.125% 4/15/2031  | 3000 | 2611 |
| Colombia (Republic of) 8.00% 11/14/2035  | 445 | 479 |
| Comcast Corp. 4.80% 5/15/2033  | 4100 | 4143 |
| Compass Group Diversified Holdings, LLC 5.25% 4/15/2029 <sup>(e)</sup>  | 195 | 181 |
| Compass Group Diversified Holdings, LLC 5.00% 1/15/2032 <sup>(e)</sup>  | 66 | 59 |
| Comstock Resources, Inc. 5.875% 1/15/2030 <sup>(e)</sup>  | 65 | 63 |
| Connect Finco SARL 9.00% 9/15/2029 <sup>(e)</sup>  | 200 | 211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M1, (30-day Average USD-SOFR + 2.30%) 6.656% <br> 5/25/2043 <sup>(d)(e)(h)</sup>  | 1119 | 1142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M2, (30-day Average USD-SOFR + 3.55%) 7.906% <br> 5/25/2043 <sup>(d)(e)(h)</sup>  | 804 | 849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M1, (30-day Average USD-SOFR + 1.90%) 6.256% <br> 6/25/2043 <sup>(d)(e)(h)</sup>  | 576 | 581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M2, (30-day Average USD-SOFR + 3.10%) 7.456% <br> 6/25/2043 <sup>(d)(e)(h)</sup>  | 305 | 317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M1, (30-day Average USD-SOFR + 1.70%) 6.056% <br> 7/25/2043 <sup>(d)(e)(h)</sup>  | 393 | 394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M2, (30-day Average USD-SOFR + 1.80%) 6.156% <br> 1/25/2044 <sup>(d)(e)(h)</sup>  | 206 | 208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M2, (30-day Average USD-SOFR + 1.65%) 6.006% <br> 5/25/2044 <sup>(d)(e)(h)</sup>  | 1148 | 1152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1, (30-day Average USD-SOFR + 1.00%) 5.356% <br> 2/25/2045 <sup>(d)(e)(h)</sup>  | 256 | 256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust, Series 2025-R02, Class 1M1, (30-day Average USD-SOFR + 1.15%) 5.506% <br> 2/25/2045 <sup>(d)(e)(h)</sup>  | 595 | 595 |
| Constellation Oil Services Holding SA 9.375% 11/7/2029 <sup>(e)</sup>  | 200 | 205 |
| COPT Defense Properties, LP 2.75% 4/15/2031  | 1212 | 1098 |
| Corebridge Financial, Inc. 3.90% 4/5/2032  | 748 | 715 |
| CoreLogic, Inc. 4.50% 5/1/2028 <sup>(e)</sup>  | 384 | 374 |
| CoreLogic, Inc., Term Loan, (3-month USD CME Term SOFR + 6.50%) 10.778% 6/4/2029 <sup>(g)(h)</sup>  | 65 | 65 |
| Coty, Inc. 5.00% 4/15/2026 <sup>(e)</sup>  | 36 | 36 |
| Coty, Inc. 4.75% 1/15/2029 <sup>(e)</sup>  | 65 | 64 |
| Cougar JV Subsidiary, LLC 8.00% 5/15/2032 <sup>(e)</sup>  | 65 | 69 |
| Crescent Energy Finance, LLC 9.25% 2/15/2028 <sup>(e)</sup>  | 128 | 133 |
| Crescent Energy Finance, LLC 7.625% 4/1/2032 <sup>(e)</sup>  | 165 | 164 |

---

American Funds Insurance Series — Page 225 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Crown Castle, Inc. 2.50% 7/15/2031  | USD767 | $683 |
| CSX Corp. 3.80% 4/15/2050  | 75 | 58 |
| Darling Ingredients, Inc. 6.00% 6/15/2030 <sup>(e)</sup>  | 10 | 10 |
| DaVita, Inc. 6.75% 7/15/2033 <sup>(e)</sup>  | 40 | 41 |
| Deutsche Bank AG 2.129% 11/24/2026 (USD-SOFR + 1.87% on 11/24/2025) <sup>(a)</sup>  | 850 | 847 |
| Deutsche Bank AG 2.311% 11/16/2027 (USD-SOFR + 1.219% on 11/16/2026) <sup>(a)</sup>  | 1160 | 1135 |
| Deutsche Telekom International Finance BV 9.25% 6/1/2032  | 930 | 1167 |
| Diamond Sports Net, LLC, Term Loan, 15.00% PIK 1/2/2028 <sup>(g)(i)</sup>  | 8 | 7 |
| Diebold Nixdorf, Inc. 7.75% 3/31/2030 <sup>(e)</sup>  | 125 | 132 |
| DIRECTV Financing, LLC 5.875% 8/15/2027 <sup>(e)</sup>  | 21 | 21 |
| DIRECTV Financing, LLC 8.875% 2/1/2030 <sup>(e)</sup>  | 60 | 59 |
| DIRECTV Financing, LLC, Term Loan, (3-month USD CME Term SOFR + 5.00%) 9.57% 8/2/2027 <sup>(g)(h)</sup>  | 5 | 5 |
| DISH Network Corp. 11.75% 11/15/2027 <sup>(e)</sup>  | 296 | 313 |
| Durst Commercial Mortgage Trust, Series 2025-151, Class A, 5.145% 8/10/2042 <sup>(d)(e)(h)</sup>  | 1597 | 1628 |
| EchoStar Corp. 10.75% 11/30/2029  | 105 | 116 |
| Edison International 5.25% 11/15/2028  | 1862 | 1877 |
| Edison International 5.45% 6/15/2029  | 75 | 76 |
| Edison International 6.95% 11/15/2029  | 350 | 372 |
| Edison International 6.25% 3/15/2030  | 1510 | 1571 |
| Edison International 5.25% 3/15/2032  | 705 | 699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(a)</sup>  | 100 | 95 |
| Egypt (Arab Republic of) 6.588% 2/21/2028  | 1550 | 1570 |
| Egypt (Arab Republic of) 9.45% 2/4/2033 <sup>(e)</sup>  | 460 | 492 |
| Electricite de France SA 5.65% 4/22/2029 <sup>(e)</sup>  | 800 | 835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(a)</sup>  | 435 | 505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(a)(e)</sup>  | 300 | 348 |
| Element Solutions, Inc. 3.875% 9/1/2028 <sup>(e)</sup>  | 105 | 102 |
| Ellucian Holdings, Inc. 6.50% 12/1/2029 <sup>(e)</sup>  | 25 | 25 |
| Ellucian Holdings, Inc., Term Loan, (3-month USD CME Term SOFR + 4.75%) 8.913% 11/22/2032 <sup>(g)(h)</sup>  | 25 | 26 |
| Endo Finance Holdings, Inc. 8.50% 4/15/2031 <sup>(e)</sup>  | 190 | 204 |
| Endo Finance Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.00%) 8.163% 4/23/2031 <sup>(g)(h)</sup>  | 84 | 84 |
| Enel Finance International NV 1.625% 7/12/2026 <sup>(a)(e)</sup>  | 1248 | 1224 |
| Enel Finance International NV 2.125% 7/12/2028 <sup>(e)</sup>  | 1227 | 1159 |
| Enel Finance International NV 4.125% 9/30/2028 <sup>(e)</sup>  | 2125 | 2120 |
| Enfragen Energia Sur SA 5.375% 12/30/2030  | 3329 | 3102 |
| Enterprise Products Operating, LLC 4.95% 2/15/2035  | 168 | 169 |
| Enviri Corp. 5.75% 7/31/2027 <sup>(e)</sup>  | 145 | 144 |
| EQT Corp. 6.375% 4/1/2029  | 20 | 21 |
| EQT Corp. 7.50% 6/1/2030  | 45 | 50 |
| EquipmentShare, Series 2024-2M, Class A, 5.70% 12/20/2032 <sup>(d)(e)</sup>  | 828 | 841 |
| EquipmentShare, Series 2025-1M, Class A, 5.48% 9/26/2033 <sup>(d)(e)</sup>  | 1301 | 1315 |
| EquipmentShare.com, Inc. 9.00% 5/15/2028 <sup>(e)</sup>  | 90 | 95 |
| EquipmentShare.com, Inc. 8.625% 5/15/2032 <sup>(e)</sup>  | 15 | 16 |
| Evergreen Credit Card Trust, Series 2025-CRT5, Class B, 5.24% 5/15/2029 <sup>(d)(e)</sup>  | 148 | 150 |
| Exeter Automobile Receivables Trust, Series 2023-5A, Class B, 6.58% 4/17/2028 <sup>(d)</sup>  | 38 | 38 |
| Expand Energy Corp. 6.75% 4/15/2029 <sup>(e)</sup>  | 30 | 30 |
| Expand Energy Corp. 5.375% 3/15/2030  | 55 | 56 |
| Expand Energy Corp. 4.75% 2/1/2032  | 15 | 15 |
| Expand Energy Corp. 4.875% 4/15/2032 <sup>(j)</sup>  | 915 | 4 |
| Export-Import Bank of Thailand 5.354% 5/16/2029  | 1420 | 1470 |
| Fair Isaac Corp. 4.00% 6/15/2028 <sup>(e)</sup>  | 15 | 15 |
| Fair Isaac Corp. 6.00% 5/15/2033 <sup>(e)</sup>  | 125 | 127 |

---

American Funds Insurance Series — Page 226 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #MA5696 7.00% 3/1/2045 <sup>(d)</sup>  | USD70 | $73 |
| Fannie Mae Pool #BP5576 2.50% 6/1/2050 <sup>(d)</sup>  | 6 | 5 |
| Fannie Mae Pool #FP0015 2.50% 9/1/2050 <sup>(d)</sup>  | 1 | 1 |
| Fannie Mae Pool #FS9792 4.50% 12/1/2050 <sup>(d)</sup>  | 123 | 121 |
| Fannie Mae Pool #CB0046 3.00% 4/1/2051 <sup>(d)</sup>  | 1599 | 1407 |
| Fannie Mae Pool #FM9672 2.50% 12/1/2051 <sup>(d)</sup>  | 245 | 207 |
| Fannie Mae Pool #MA4577 2.00% 4/1/2052 <sup>(d)</sup>  | 1387 | 1123 |
| Fannie Mae Pool #FS9189 2.00% 5/1/2052 <sup>(d)</sup>  | 1354 | 1098 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(d)</sup>  | 3374 | 2733 |
| Fannie Mae Pool #CB4852 4.50% 10/1/2052 <sup>(d)</sup>  | 3873 | 3775 |
| Fannie Mae Pool #MA4785 5.00% 10/1/2052 <sup>(d)</sup>  | 50 | 49 |
| Fannie Mae Pool #MA4805 4.50% 11/1/2052 <sup>(d)</sup>  | 1655 | 1613 |
| Fannie Mae Pool #MA4919 5.50% 2/1/2053 <sup>(d)</sup>  | 90 | 91 |
| Fannie Mae Pool #FS4191 5.50% 3/1/2053 <sup>(d)</sup>  | 193 | 197 |
| Fannie Mae Pool #CB5912 6.00% 3/1/2053 <sup>(d)</sup>  | 841 | 868 |
| Fannie Mae Pool #BY0943 4.00% 4/1/2053 <sup>(d)</sup>  | 19 | 18 |
| Fannie Mae Pool #FS4840 5.50% 5/1/2053 <sup>(d)</sup>  | 514 | 521 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(d)</sup>  | 16 | 16 |
| Fannie Mae Pool #MA5039 5.50% 6/1/2053 <sup>(d)</sup>  | 56 | 57 |
| Fannie Mae Pool #CB6626 4.00% 7/1/2053 <sup>(d)</sup>  | 28 | 26 |
| Fannie Mae Pool #MA5071 5.00% 7/1/2053 <sup>(d)</sup>  | 410 | 408 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(d)</sup>  | 212 | 214 |
| Fannie Mae Pool #CB7104 5.50% 9/1/2053 <sup>(d)</sup>  | 1478 | 1498 |
| Fannie Mae Pool #MA5165 5.50% 10/1/2053 <sup>(d)</sup>  | 816 | 826 |
| Fannie Mae Pool #MA5166 6.00% 10/1/2053 <sup>(d)</sup>  | 1769 | 1813 |
| Fannie Mae Pool #FS6838 5.50% 11/1/2053 <sup>(d)</sup>  | 423 | 428 |
| Fannie Mae Pool #MA5191 6.00% 11/1/2053 <sup>(d)</sup>  | 2109 | 2160 |
| Fannie Mae Pool #MA5271 5.50% 2/1/2054 <sup>(d)</sup>  | 621 | 628 |
| Fannie Mae Pool #FS6809 5.50% 2/1/2054 <sup>(d)</sup>  | 214 | 216 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(d)</sup>  | 446 | 451 |
| Fannie Mae Pool #MA5295 6.00% 3/1/2054 <sup>(d)</sup>  | 268 | 275 |
| Fannie Mae Pool #BU4479 5.50% 4/1/2054 <sup>(d)</sup>  | 313 | 317 |
| Fannie Mae Pool #DB2495 6.00% 5/1/2054 <sup>(d)</sup>  | 547 | 559 |
| Fannie Mae Pool #FS8131 5.50% 6/1/2054 <sup>(d)</sup>  | 1609 | 1635 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(d)</sup>  | 1525 | 1573 |
| Fannie Mae Pool #DB6878 6.00% 6/1/2054 <sup>(d)</sup>  | 922 | 944 |
| Fannie Mae Pool #CB8755 6.00% 6/1/2054 <sup>(d)</sup>  | 633 | 651 |
| Fannie Mae Pool #FS8223 6.00% 6/1/2054 <sup>(d)</sup>  | 216 | 221 |
| Fannie Mae Pool #FS8219 6.00% 6/1/2054 <sup>(d)</sup>  | 193 | 200 |
| Fannie Mae Pool #MA5389 6.00% 6/1/2054 <sup>(d)</sup>  | 26 | 26 |
| Fannie Mae Pool #CB8842 5.50% 7/1/2054 <sup>(d)</sup>  | 3967 | 4017 |
| Fannie Mae Pool #BU4699 5.50% 7/1/2054 <sup>(d)</sup>  | 1031 | 1044 |
| Fannie Mae Pool #DB5214 6.00% 7/1/2054 <sup>(d)</sup>  | 1423 | 1459 |
| Fannie Mae Pool #BU4707 6.00% 7/1/2054 <sup>(d)</sup>  | 1260 | 1290 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(d)</sup>  | 811 | 833 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(d)</sup>  | 566 | 580 |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(d)</sup>  | 559 | 575 |
| Fannie Mae Pool #FS8318 6.00% 7/1/2054 <sup>(d)</sup>  | 405 | 418 |
| Fannie Mae Pool #FS8591 6.00% 7/1/2054 <sup>(d)</sup>  | 311 | 321 |
| Fannie Mae Pool #DB7039 6.00% 7/1/2054 <sup>(d)</sup>  | 164 | 169 |
| Fannie Mae Pool #FS8786 6.50% 7/1/2054 <sup>(d)</sup>  | 15 | 15 |
| Fannie Mae Pool #DB7783 5.50% 8/1/2054 <sup>(d)</sup>  | 385 | 390 |
| Fannie Mae Pool #DB7792 6.00% 8/1/2054 <sup>(d)</sup>  | 798 | 817 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(d)</sup>  | 487 | 501 |
| Fannie Mae Pool #FS8758 6.00% 8/1/2054 <sup>(d)</sup>  | 333 | 341 |

---

American Funds Insurance Series — Page 227 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(d)</sup>  | USD233 | $239 |
| Fannie Mae Pool #DC0299 6.00% 8/1/2054 <sup>(d)</sup>  | 194 | 199 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(d)</sup>  | 192 | 198 |
| Fannie Mae Pool #DB7692 6.00% 8/1/2054 <sup>(d)</sup>  | 188 | 192 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(d)</sup>  | 172 | 176 |
| Fannie Mae Pool #BU4968 6.00% 8/1/2054 <sup>(d)</sup>  | 163 | 166 |
| Fannie Mae Pool #DB7687 6.00% 8/1/2054 <sup>(d)</sup>  | 88 | 91 |
| Fannie Mae Pool #DB7690 6.00% 8/1/2054 <sup>(d)</sup>  | 74 | 76 |
| Fannie Mae Pool #DC0296 6.00% 8/1/2054 <sup>(d)</sup>  | 66 | 68 |
| Fannie Mae Pool #FS8795 6.00% 8/1/2054 <sup>(d)</sup>  | 38 | 39 |
| Fannie Mae Pool #DC0503 6.00% 9/1/2054 <sup>(d)</sup>  | 943 | 965 |
| Fannie Mae Pool #FS8866 6.00% 9/1/2054 <sup>(d)</sup>  | 445 | 457 |
| Fannie Mae Pool #DC3877 6.00% 10/1/2054 <sup>(d)</sup>  | 731 | 748 |
| Fannie Mae Pool #MA5530 5.00% 11/1/2054 <sup>(d)</sup>  | 1784 | 1771 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(d)</sup>  | 121 | 122 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(d)</sup>  | 47 | 47 |
| Fannie Mae Pool #DC9957 6.00% 1/1/2055 <sup>(d)</sup>  | 666 | 681 |
| Fannie Mae Pool #MA5612 4.50% 2/1/2055 <sup>(d)</sup>  | 4022 | 3904 |
| Fannie Mae Pool #MA5644 4.50% 3/1/2055 <sup>(d)</sup>  | 600 | 583 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(d)</sup>  | 100 | 102 |
| Fannie Mae Pool #MA5671 4.50% 4/1/2055 <sup>(d)</sup>  | 635 | 616 |
| Fannie Mae Pool #DD6324 5.00% 4/1/2055 <sup>(d)</sup>  | 369 | 366 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(d)</sup>  | 445 | 455 |
| Fannie Mae Pool #MA5699 5.00% 5/1/2055 <sup>(d)</sup>  | 345 | 343 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(d)</sup>  | 1175 | 1201 |
| Fannie Mae Pool #MA5734 5.00% 6/1/2055 <sup>(d)</sup>  | 1594 | 1582 |
| Fannie Mae Pool #DD9889 6.00% 7/1/2055 <sup>(d)</sup>  | 733 | 749 |
| Farmer Mac Agricultural Real Estate Trust, Series 2024-2, Class B, 5.595% 8/1/2054 <sup>(d)(e)(h)</sup>  | 321 | 289 |
| Fertitta Entertainment, LLC 6.75% 1/15/2030 <sup>(e)</sup>  | 25 | 23 |
| Fiesta Purchaser, Inc. 7.875% 3/1/2031 <sup>(e)</sup>  | 150 | 158 |
| Fiesta Purchaser, Inc. 9.625% 9/15/2032 <sup>(e)</sup>  | 30 | 32 |
| Fiesta Purchaser, Inc., Term Loan B, (1-month USD CME Term SOFR + 2.75%) 6.913% 2/12/2031 <sup>(g)(h)</sup>  | 15 | 15 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 11.288% 9/13/2029 <sup>(b)(g)(h)</sup>  | 27 | 27 |
| First Student Bidco, Inc. 4.00% 7/31/2029 <sup>(e)</sup>  | 45 | 43 |
| FirstEnergy Corp., Series B, 3.90% 7/15/2027  | 1763 | 1753 |
| Flutter Treasury DAC 5.875% 6/4/2031 <sup>(e)</sup>  | 200 | 203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class A, (1-month USD CME Term SOFR + 1.45%) 5.60% <br> 12/15/2039 <sup>(d)(e)(h)</sup>  | 483 | 484 |
| Ford Motor Co. 6.10% 8/19/2032  | 30 | 31 |
| Ford Motor Credit Co., LLC 5.85% 5/17/2027  | 2175 | 2203 |
| Ford Motor Credit Co., LLC 4.95% 5/28/2027  | 300 | 300 |
| Ford Motor Credit Co., LLC 3.815% 11/2/2027  | 200 | 195 |
| Ford Motor Credit Co., LLC 7.35% 11/4/2027  | 200 | 209 |
| Ford Motor Credit Co., LLC 2.90% 2/16/2028  | 200 | 190 |
| Ford Motor Credit Co., LLC 5.80% 3/8/2029  | 3000 | 3045 |
| Ford Motor Credit Co., LLC 4.00% 11/13/2030  | 125 | 117 |
| Ford Motor Credit Co., LLC 6.50% 2/7/2035  | 1500 | 1542 |
| Ford Otomotiv Sanayi AS 7.125% 4/25/2029 <sup>(e)</sup>  | 255 | 262 |
| Freddie Mac Pool #RB5111 2.00% 5/1/2041 <sup>(d)</sup>  | 2037 | 1766 |
| Freddie Mac Pool #Z40273 4.50% 10/1/2048 <sup>(d)</sup>  | 190 | 188 |
| Freddie Mac Pool #RA6114 2.00% 2/1/2052 <sup>(d)</sup>  | 599 | 485 |
| Freddie Mac Pool #QE6084 5.00% 7/1/2052 <sup>(d)</sup>  | 864 | 862 |
| Freddie Mac Pool #SD2986 3.50% 9/1/2052 <sup>(d)</sup>  | 895 | 819 |
| Freddie Mac Pool #SD8266 4.50% 11/1/2052 <sup>(d)</sup>  | 365 | 355 |
| Freddie Mac Pool #SD8276 5.00% 12/1/2052 <sup>(d)</sup>  | 971 | 968 |

---

American Funds Insurance Series — Page 228 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SD8287 4.50% 1/1/2053 <sup>(d)</sup>  | USD2,726 | $2657 |
| Freddie Mac Pool #SD8327 3.50% 4/1/2053 <sup>(d)</sup>  | 24 | 22 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(d)</sup>  | 251 | 254 |
| Freddie Mac Pool #SD8341 5.00% 7/1/2053 <sup>(d)</sup>  | 21 | 21 |
| Freddie Mac Pool #SD8342 5.50% 7/1/2053 <sup>(d)</sup>  | 677 | 685 |
| Freddie Mac Pool #SD3432 6.00% 7/1/2053 <sup>(d)</sup>  | 168 | 174 |
| Freddie Mac Pool #SD3512 6.00% 8/1/2053 <sup>(d)</sup>  | 57 | 58 |
| Freddie Mac Pool #RA9795 4.00% 9/1/2053 <sup>(d)</sup>  | 34 | 32 |
| Freddie Mac Pool #SD8363 6.00% 9/1/2053 <sup>(d)</sup>  | 1535 | 1573 |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(d)</sup>  | 12078 | 12031 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(d)</sup>  | 121 | 126 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(d)</sup>  | 190 | 192 |
| Freddie Mac Pool #SD8402 6.00% 2/1/2054 <sup>(d)</sup>  | 1717 | 1757 |
| Freddie Mac Pool #QI1357 4.00% 3/1/2054 <sup>(d)</sup>  | 923 | 871 |
| Freddie Mac Pool #QI3333 6.00% 4/1/2054 <sup>(d)</sup>  | 102 | 105 |
| Freddie Mac Pool #SD5692 6.00% 5/1/2054 <sup>(d)</sup>  | 124 | 128 |
| Freddie Mac Pool #RJ1855 5.00% 6/1/2054 <sup>(d)</sup>  | 269 | 268 |
| Freddie Mac Pool #RJ1857 5.50% 6/1/2054 <sup>(d)</sup>  | 14529 | 14749 |
| Freddie Mac Pool #RJ1768 5.50% 6/1/2054 <sup>(d)</sup>  | 795 | 808 |
| Freddie Mac Pool #RJ1859 6.00% 6/1/2054 <sup>(d)</sup>  | 958 | 984 |
| Freddie Mac Pool #RJ1963 5.50% 7/1/2054 <sup>(d)</sup>  | 1035 | 1047 |
| Freddie Mac Pool #QI8872 5.50% 7/1/2054 <sup>(d)</sup>  | 506 | 512 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(d)</sup>  | 1480 | 1514 |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(d)</sup>  | 1224 | 1269 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(d)</sup>  | 856 | 879 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(d)</sup>  | 520 | 536 |
| Freddie Mac Pool #QI8874 6.00% 7/1/2054 <sup>(d)</sup>  | 332 | 341 |
| Freddie Mac Pool #SD5873 6.00% 7/1/2054 <sup>(d)</sup>  | 221 | 227 |
| Freddie Mac Pool #SD5896 6.00% 7/1/2054 <sup>(d)</sup>  | 182 | 187 |
| Freddie Mac Pool #RJ2243 5.50% 8/1/2054 <sup>(d)</sup>  | 3435 | 3475 |
| Freddie Mac Pool #RJ2203 5.50% 8/1/2054 <sup>(d)</sup>  | 605 | 612 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(d)</sup>  | 298 | 307 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(d)</sup>  | 28 | 28 |
| Freddie Mac Pool #RJ2222 6.50% 8/1/2054 <sup>(d)</sup>  | 524 | 546 |
| Freddie Mac Pool #RJ2298 5.50% 9/1/2054 <sup>(d)</sup>  | 638 | 644 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(d)</sup>  | 1061 | 1088 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(d)</sup>  | 579 | 596 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(d)</sup>  | 539 | 556 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(d)</sup>  | 507 | 524 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(d)</sup>  | 326 | 334 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(d)</sup>  | 434 | 438 |
| Freddie Mac Pool #SD8470 6.00% 10/1/2054 <sup>(d)</sup>  | 26 | 27 |
| Freddie Mac Pool #RJ2851 4.50% 11/1/2054 <sup>(d)</sup>  | 421 | 409 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(d)</sup>  | 1133 | 1144 |
| Freddie Mac Pool #SD8491 5.00% 12/1/2054 <sup>(d)</sup>  | 514 | 511 |
| Freddie Mac Pool #QX1414 5.50% 12/1/2054 <sup>(d)</sup>  | 338 | 342 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(d)</sup>  | 13 | 13 |
| Freddie Mac Pool #SD8496 6.00% 1/1/2055 <sup>(d)</sup>  | 24 | 25 |
| Freddie Mac Pool #QX6724 6.00% 2/1/2055 <sup>(d)</sup>  | 62 | 63 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(d)</sup>  | 55 | 57 |
| Freddie Mac Pool #SL1094 5.00% 4/1/2055 <sup>(d)</sup>  | 149 | 148 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(d)</sup>  | 604 | 618 |
| Freddie Mac Pool #SD8532 5.00% 5/1/2055 <sup>(d)</sup>  | 317 | 315 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(d)</sup>  | 160 | 164 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(d)</sup>  | 444 | 441 |

---

American Funds Insurance Series — Page 229 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(d)</sup>  | USD727 | $733 |
| Freddie Mac Pool #RQ0026 5.00% 7/1/2055 <sup>(d)</sup>  | 171 | 170 |
| Freddie Mac Pool #QY7483 6.00% 7/1/2055 <sup>(d)</sup>  | 821 | 840 |
| Freddie Mac, Series K153, Class A2, Multi Family, 3.82% 1/25/2033 <sup>(d)</sup>  | 1680 | 1632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA3, Class M1B, (30-day Average <br> USD-SOFR + 2.90%) 7.256% 4/25/2042 <sup>(d)(e)(h)</sup>  | 441 | 454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA1, Class A1, (30-day Average <br> USD-SOFR + 0.95%) 5.306% 1/25/2045 <sup>(d)(e)(h)</sup>  | 241 | 241 |
| Frontier Communications Holdings, LLC 5.00% 5/1/2028 <sup>(e)</sup>  | 25 | 25 |
| Frontier Communications Holdings, LLC 5.875% 11/1/2029  | 65 | 66 |
| Frontier Communications Holdings, LLC 6.00% 1/15/2030 <sup>(e)</sup>  | 103 | 104 |
| FXI Holdings, Inc. 12.25% 11/15/2026 <sup>(e)</sup>  | 497 | 439 |
| Garda World Security Corp. 8.375% 11/15/2032 <sup>(e)</sup>  | 65 | 68 |
| Gartner, Inc. 3.75% 10/1/2030 <sup>(e)</sup>  | 70 | 66 |
| GCAT Trust, Series 2024-NQM2, Class A1, 6.085% 6/25/2059 (7.359% on 5/1/2028) <sup>(a)(d)(e)</sup>  | 1039 | 1052 |
| Genesis Energy, LP 8.25% 1/15/2029  | 25 | 26 |
| Genesis Energy, LP 8.875% 4/15/2030  | 38 | 40 |
| Genesis Energy, LP 7.875% 5/15/2032  | 60 | 63 |
| Georgia (Republic of) 2.75% 4/22/2026 <sup>(e)</sup>  | 400 | 392 |
| Gilead Sciences, Inc. 5.25% 10/15/2033  | 1342 | 1408 |
| Gilead Sciences, Inc. 5.55% 10/15/2053  | 1155 | 1167 |
| Glatfelter Corp., Term Loan B, (3-month USD CME Term SOFR + 4.25%) 8.449% 11/4/2031 <sup>(g)(h)</sup>  | 51 | 51 |
| Goldman Sachs Group, Inc. 1.542% 9/10/2027 (USD-SOFR + 0.818% on 9/10/2026) <sup>(a)</sup>  | 1080 | 1053 |
| Government National Mortgage Assn. 6.50% 10/1/2055 <sup>(d)(k)</sup>  | 1708 | 1754 |
| Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/2063 <sup>(d)</sup>  | 750 | 559 |
| Gray Media, Inc. 5.375% 11/15/2031 <sup>(e)</sup>  | 19 | 14 |
| Greenko Dutch BV 3.85% 3/29/2026  | 1488 | 1475 |
| GreenSaif Pipelines Bidco SARL 5.853% 2/23/2036 <sup>(e)</sup>  | 1645 | 1729 |
| Group 1 Automotive, Inc. 4.00% 8/15/2028 <sup>(e)</sup>  | 115 | 112 |
| Grupo Energia Bogota SA ESP 4.875% 5/15/2030 <sup>(e)</sup>  | 660 | 659 |
| Hanesbrands, Inc., Term Loan B, (3-month USD CME Term SOFR + 2.75%) 6.913% 3/7/2032 <sup>(g)(h)</sup>  | 56 | 57 |
| Harvest Midstream I, LP 7.50% 9/1/2028 <sup>(e)</sup>  | 25 | 25 |
| Harvest Midstream I, LP 7.50% 5/15/2032 <sup>(e)</sup>  | 25 | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hawaii Hotel Trust, Series 2025-MAUI, Class A, (1-month USD CME Term SOFR + 1.393%) 5.543% <br>3/15/2042 <sup>(d)(e)(h)</sup>  | 1066 | 1068 |
| HCA, Inc. 5.625% 9/1/2028  | 120 | 124 |
| Helios Software Holdings, Inc. 8.75% 5/1/2029 <sup>(e)</sup>  | 200 | 208 |
| Herc Holdings, Inc. 7.00% 6/15/2030 <sup>(e)</sup>  | 65 | 68 |
| Herc Holdings, Inc. 7.25% 6/15/2033 <sup>(e)</sup>  | 30 | 31 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class A, 5.44% 1/25/2029 <sup>(d)(e)</sup>  | 249 | 254 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class A, 4.91% 9/25/2029 <sup>(d)(e)</sup>  | 1188 | 1200 |
| Hess Midstream Operations, LP 5.50% 10/15/2030 <sup>(e)</sup>  | 14 | 14 |
| Hightower Holding, LLC 6.75% 4/15/2029 <sup>(e)</sup>  | 235 | 232 |
| Hilcorp Energy I, LP 6.00% 4/15/2030 <sup>(e)</sup>  | 105 | 104 |
| Hilcorp Energy I, LP 6.00% 2/1/2031 <sup>(e)</sup>  | 25 | 24 |
| Hilton Domestic Operating Co., Inc. 4.00% 5/1/2031 <sup>(e)</sup>  | 115 | 109 |
| Honduras (Republic of) 6.25% 1/19/2027  | 653 | 662 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.644% 2/5/2045 <sup>(d)(e)(h)</sup>  | 1949 | 2019 |
| Howard Hughes Corp. (The) 5.375% 8/1/2028 <sup>(e)</sup>  | 175 | 174 |
| Howard Hughes Corp. (The) 4.125% 2/1/2029 <sup>(e)</sup>  | 195 | 187 |
| Howard Hughes Corp. (The) 4.375% 2/1/2031 <sup>(e)</sup>  | 120 | 113 |
| Howden UK Refinance 2 PLC 8.125% 2/15/2032 <sup>(e)</sup>  | 200 | 208 |
| HSBC Holdings PLC 4.755% 6/9/2028 (USD-SOFR + 2.11% on 6/9/2027) <sup>(a)</sup>  | 1700 | 1715 |
| HSBC Holdings PLC 7.399% 11/13/2034 (USD-SOFR + 3.02% on 11/13/2033) <sup>(a)</sup>  | 2000 | 2277 |
| HSBC Holdings PLC 6.332% 3/9/2044 (USD-SOFR + 2.65% on 3/9/2043) <sup>(a)</sup>  | 1200 | 1321 |

---

American Funds Insurance Series — Page 230 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| HTL Commercial Mortgage Trust, Series 2024-T53, Class A, 6.072% 5/10/2039 <sup>(d)(e)(h)</sup>  | USD396 | $402 |
| HUB International, Ltd. 7.375% 1/31/2032 <sup>(e)</sup>  | 130 | 135 |
| HUB International, Ltd., Term Loan, (3-month USD CME Term SOFR + 2.50%) 6.825% 6/20/2030 <sup>(g)(h)</sup>  | 3 | 3 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.649% 1/13/2040 <sup>(d)(e)(h)</sup>  | 2712 | 2805 |
| Hyundai Capital America 1.50% 6/15/2026 <sup>(e)</sup>  | 2375 | 2330 |
| Hyundai Capital America 1.65% 9/17/2026 <sup>(e)</sup>  | 269 | 263 |
| Hyundai Capital America 2.00% 6/15/2028 <sup>(e)</sup>  | 600 | 564 |
| Hyundai Capital America 4.25% 9/18/2028 <sup>(e)</sup>  | 2577 | 2572 |
| Hyundai Capital America 6.50% 1/16/2029 <sup>(e)</sup>  | 132 | 140 |
| Icahn Enterprises, LP 9.75% 1/15/2029  | 65 | 66 |
| Indonesia Asahan Aluminium (Persero) PT 5.45% 5/15/2030 <sup>(e)</sup>  | 500 | 516 |
| Ingles Markets, Inc. 4.00% 6/15/2031 <sup>(e)</sup>  | 130 | 122 |
| Intel Corp. 3.05% 8/12/2051  | 740 | 470 |
| Intel Corp. 5.60% 2/21/2054  | 168 | 161 |
| Intesa Sanpaolo SpA 7.00% 11/21/2025 <sup>(e)</sup>  | 225 | 226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA 7.778% 6/20/2054 (1-year UST Yield Curve Rate T Note Constant Maturity + 3.90% on <br> 6/20/2053) <sup>(a)(e)</sup>  | 1500 | 1803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INTOWN Mortgage Trust, Series 2025-STAY, Class A, (1-month USD CME Term SOFR + 1.35%) 5.50% <br>3/15/2042 <sup>(d)(e)(h)</sup>  | 3679 | 3684 |
| Iron Mountain Information Management Services, Inc. 5.00% 7/15/2032 <sup>(e)</sup>  | 55 | 53 |
| Iron Mountain, Inc. 5.25% 7/15/2030 <sup>(e)</sup>  | 235 | 233 |
| Ithaca Energy (North Sea) PLC 8.125% 10/15/2029 <sup>(e)</sup>  | 200 | 209 |
| Jane Street Group, LLC 6.75% 5/1/2033 <sup>(e)</sup>  | 80 | 83 |
| Jefferson Capital Holdings, LLC 8.25% 5/15/2030 <sup>(e)</sup>  | 80 | 84 |
| JPMorgan Chase & Co. 1.04% 2/4/2027 (USD-SOFR + 0.695% on 2/4/2026) <sup>(a)</sup>  | 1243 | 1229 |
| JPMorgan Chase & Co. 5.572% 4/22/2036 (USD-SOFR + 1.68% on 4/22/2035) <sup>(a)</sup>  | 1268 | 1337 |
| JPMorgan Chase & Co. 5.534% 11/29/2045 (USD-SOFR + 1.55% on 11/29/2044) <sup>(a)</sup>  | 730 | 751 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 3.25%) 7.413% 3/20/2032 <sup>(g)(h)</sup>  | 75 | 75 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 5.00%) 9.163% 3/20/2033 <sup>(g)(h)</sup>  | 50 | 50 |
| KB Home 6.875% 6/15/2027  | 50 | 51 |
| Kennedy-Wilson, Inc. 4.75% 3/1/2029  | 20 | 19 |
| Kennedy-Wilson, Inc. 4.75% 2/1/2030  | 245 | 229 |
| Kodiak Gas Services, LLC 7.25% 2/15/2029 <sup>(e)</sup>  | 10 | 10 |
| Korea Electric Power Corp. 5.375% 7/31/2026 <sup>(e)</sup>  | 1290 | 1303 |
| Korea Electric Power Corp. 4.75% 2/13/2028 <sup>(e)</sup>  | 2250 | 2283 |
| Korea Gas Corp. 5.00% 7/8/2029 <sup>(e)</sup>  | 225 | 232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KSL Commercial Mortgage Trust, Series 2024-HT2, Class A, (1-month USD CME Term SOFR + 1.542%) 5.693% <br> 12/15/2039 <sup>(d)(e)(h)</sup>  | 1139 | 1141 |
| LAD Auto Receivables Trust, Series 2023-1, Class A3, 5.48% 6/15/2027 <sup>(d)(e)</sup>  | 38 | 38 |
| LAD Auto Receivables Trust, Series 2023-4, Class B, 6.39% 10/16/2028 <sup>(d)(e)</sup>  | 194 | 198 |
| LAD Auto Receivables Trust, Series 2024-3A, Class A3, 4.52% 3/15/2029 <sup>(d)(e)</sup>  | 219 | 220 |
| Lamar Media Corp. 3.75% 2/15/2028  | 10 | 10 |
| Lamar Media Corp. 3.625% 1/15/2031  | 120 | 112 |
| Lamb Weston Holdings, Inc. 4.125% 1/31/2030 <sup>(e)</sup>  | 30 | 29 |
| LATAM Airlines Group SA 7.875% 4/15/2030 <sup>(e)</sup>  | 25 | 26 |
| LCM Investments Holdings II, LLC 4.875% 5/1/2029 <sup>(e)</sup>  | 110 | 108 |
| LCM Investments Holdings II, LLC 8.25% 8/1/2031 <sup>(e)</sup>  | 40 | 42 |
| Levi Strauss & Co. 3.50% 3/1/2031 <sup>(e)</sup>  | 115 | 107 |
| Live Nation Entertainment, Inc. 4.75% 10/15/2027 <sup>(e)</sup>  | 130 | 129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC 1.627% 5/11/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on <br> 5/11/2026) <sup>(a)</sup>  | 7000 | 6889 |
| Lockheed Martin Corp. 5.20% 2/15/2064  | 309 | 292 |
| LPL Holdings, Inc. 4.375% 5/15/2031 <sup>(e)</sup>  | 10 | 10 |
| LSB Industries, Inc. 6.25% 10/15/2028 <sup>(e)</sup>  | 90 | 89 |

---

American Funds Insurance Series — Page 231 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magnetite CLO, Ltd., Series 2019-22, Class ARR, (3-month USD CME Term SOFR + 1.25%) 5.568% <br>7/15/2036 <sup>(d)(e)(h)</sup>  | USD563 | $563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon CLO, Ltd., Series 2019-2A, Class A1R2, (3-month USD CME Term SOFR + 0.95%) 5.275% <br>1/20/2033 <sup>(d)(e)(h)</sup>  | 2502 | 2493 |
| Marriott International, Inc. 2.75% 10/15/2033  | 5 | 4 |
| Marriott Ownership Resorts, Inc. 4.50% 6/15/2029 <sup>(e)</sup>  | 45 | 43 |
| Mars, Inc. 4.80% 3/1/2030 <sup>(e)</sup>  | 2925 | 2981 |
| Mars, Inc. 5.00% 3/1/2032 <sup>(e)</sup>  | 3575 | 3659 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(e)</sup>  | 1475 | 1508 |
| Marsh & McLennan Cos., Inc. 5.70% 9/15/2053  | 282 | 289 |
| Mastercard, Inc. 2.00% 11/18/2031  | 600 | 530 |
| Matador Resources Co. 6.50% 4/15/2032 <sup>(e)</sup>  | 50 | 51 |
| Matador Resources Co. 6.25% 4/15/2033 <sup>(e)</sup>  | 45 | 45 |
| MEG Energy Corp. 5.875% 2/1/2029 <sup>(e)</sup>  | 30 | 30 |
| Meituan 2.125% 10/28/2025  | 1730 | 1727 |
| Melco Resorts Finance, Ltd. 5.625% 7/17/2027 <sup>(e)</sup>  | 393 | 392 |
| Methanex Corp. 5.125% 10/15/2027  | 55 | 55 |
| Methanex Corp. 5.25% 12/15/2029  | 5 | 5 |
| MFRA Trust, Series 2024-NQM3, Class A1, 5.722% 12/25/2069 (6.722% on 12/1/2028) <sup>(a)(d)(e)</sup>  | 1265 | 1277 |
| MFRA Trust, Series 2025-NQM3, Class A1, 5.261% 8/25/2070 (6.261% on 7/1/2029) <sup>(a)(d)(e)</sup>  | 1023 | 1027 |
| MGM Resorts International 5.50% 4/15/2027  | 90 | 91 |
| Microchip Technology, Inc. 5.05% 2/15/2030  | 709 | 725 |
| Mineral Resources, Ltd. 8.00% 11/1/2027 <sup>(e)</sup>  | 155 | 158 |
| Mineral Resources, Ltd. 9.25% 10/1/2028 <sup>(e)</sup>  | 85 | 89 |
| Minerva Luxembourg SA 8.875% 9/13/2033  | 2161 | 2374 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class A1, 6.20% 8/15/2029 <sup>(d)(e)</sup>  | 1094 | 1104 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class B, 6.59% 8/15/2029 <sup>(d)(e)</sup>  | 539 | 543 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class A, 4.78% 12/16/2030 <sup>(d)(e)</sup>  | 472 | 473 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.06% 9/15/2031 <sup>(d)(e)</sup>  | 1136 | 1139 |
| Molina Healthcare, Inc. 4.375% 6/15/2028 <sup>(e)</sup>  | 80 | 78 |
| Molina Healthcare, Inc. 3.875% 11/15/2030 <sup>(e)</sup>  | 75 | 69 |
| Molina Healthcare, Inc. 6.25% 1/15/2033 <sup>(e)</sup>  | 115 | 116 |
| Moog, Inc. 4.25% 12/9/2027 <sup>(e)</sup>  | 120 | 118 |
| Morgan Stanley 4.654% 10/18/2030 (USD-SOFR + 1.10% on 10/18/2029) <sup>(a)</sup>  | 3700 | 3742 |
| Morgan Stanley 1.794% 2/13/2032 (USD-SOFR + 1.034% on 2/13/2031) <sup>(a)</sup>  | 1433 | 1250 |
| MPLX, LP 5.40% 9/15/2035  | 278 | 279 |
| MPT Operating Partnership, LP 8.50% 2/15/2032 <sup>(e)</sup>  | 35 | 37 |
| MSCI, Inc. 3.625% 11/1/2031 <sup>(e)</sup>  | 210 | 197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multifamily Connecticut Avenue Securities, Series 2024-01, Class M7, (30-day Average USD-SOFR + 2.75%) <br> 7.106% 7/25/2054 <sup>(d)(e)(h)</sup>  | 493 | 500 |
| Murphy Oil Corp. 6.00% 10/1/2032  | 25 | 25 |
| Murphy Oil USA, Inc. 4.75% 9/15/2029  | 48 | 47 |
| MV24 Capital BV 6.748% 6/1/2034  | 1025 | 1019 |
| Nabors Industries, Inc. 7.375% 5/15/2027 <sup>(e)</sup>  | 43 | 44 |
| Nabors Industries, Inc. 9.125% 1/31/2030 <sup>(e)</sup>  | 160 | 167 |
| National Australia Bank, Ltd. 5.181% 6/11/2034 <sup>(e)</sup>  | 1250 | 1311 |
| Nationstar Mortgage Holdings, Inc. 5.125% 12/15/2030 <sup>(e)</sup>  | 135 | 137 |
| Navient Corp. 5.00% 3/15/2027  | 45 | 45 |
| Navient Corp. 4.875% 3/15/2028  | 145 | 142 |
| Navient Corp. 7.875% 6/15/2032  | 55 | 58 |
| New York Life Global Funding 1.20% 8/7/2030 <sup>(e)</sup>  | 2725 | 2364 |
| New York Life Global Funding 5.00% 1/9/2034 <sup>(e)</sup>  | 1500 | 1536 |
| New York Mortgage Trust, Series 2024-CP1, Class A1, 3.75% 2/25/2068 <sup>(d)(e)(h)</sup>  | 531 | 494 |
| Newell Brands, Inc. 8.50% 6/1/2028 <sup>(e)</sup>  | 30 | 32 |
| Nexstar Media, Inc. 4.75% 11/1/2028 <sup>(e)</sup>  | 165 | 161 |

---

American Funds Insurance Series — Page 232 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| NextEra Energy Capital Holdings, Inc. 4.685% 9/1/2027  | USD1,025 | $1036 |
| NFE Financing, LLC 12.00% 11/15/2029 <sup>(e)</sup>  | 710 | 209 |
| NGL Energy Operating, LLC 8.125% 2/15/2029 <sup>(e)</sup>  | 55 | 56 |
| NGL Energy Operating, LLC 8.375% 2/15/2032 <sup>(e)</sup>  | 70 | 72 |
| Nissan Motor Co., Ltd. 7.75% 7/17/2032 <sup>(e)</sup>  | 200 | 212 |
| Nissan Motor Co., Ltd. 8.125% 7/17/2035 <sup>(e)</sup>  | 200 | 215 |
| NMEF Funding, LLC, Series 2025-A, Class A2, 4.72% 7/15/2032 <sup>(d)(e)</sup>  | 615 | 618 |
| Norfolk Southern Corp. 5.35% 8/1/2054  | 496 | 489 |
| Northern Oil and Gas, Inc. 7.875% 10/15/2033 <sup>(e)</sup>  | 50 | 50 |
| NOVA Chemicals Corp. 5.25% 6/1/2027 <sup>(e)</sup>  | 20 | 20 |
| NOVA Chemicals Corp. 9.00% 2/15/2030 <sup>(e)</sup>  | 90 | 97 |
| NuStar Logistics, LP 5.625% 4/28/2027  | 80 | 81 |
| Occidental Petroleum Corp. 6.375% 9/1/2028  | 54 | 57 |
| OCP SA 3.75% 6/23/2031  | 500 | 470 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class A, 6.27% 6/17/2031 <sup>(d)(e)</sup>  | 269 | 271 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class B, 7.15% 6/17/2031 <sup>(d)(e)</sup>  | 120 | 121 |
| OneMain Finance Corp. 7.125% 9/15/2032  | 25 | 26 |
| OneSky Flight, LLC 8.875% 12/15/2029 <sup>(e)</sup>  | 35 | 37 |
| Onslow Bay Financial, LLC, Series 2024-NQM5, Class A1, 5.988% 1/25/2064 (6.988% on 3/1/2028) <sup>(a)(d)(e)</sup>  | 713 | 721 |
| Onslow Bay Financial, LLC, Series 2024-NQM7, Class A1, 6.243% 3/25/2064 (7.243% on 4/1/2028) <sup>(a)(d)(e)</sup>  | 1376 | 1396 |
| Onslow Bay Financial, LLC, Series 2025-NQM3, Class A1, 5.648% 12/1/2064 (6.648% on 2/1/2029) <sup>(a)(d)(e)</sup>  | 2447 | 2474 |
| Onslow Bay Financial, LLC, Series 2025-NQM1, Class A1, 5.547% 12/25/2064 (6.547% on 12/1/2028) <sup>(a)(d)(e)</sup>  | 2524 | 2548 |
| Open Text Corp. 3.875% 2/15/2028 <sup>(e)</sup>  | 25 | 24 |
| Oracle Corp. 2.65% 7/15/2026  | 2327 | 2300 |
| Oracle Corp. 3.25% 11/15/2027  | 1880 | 1847 |
| Oracle Corp. 4.45% 9/26/2030  | 4475 | 4474 |
| Oracle Corp. 3.95% 3/25/2051  | 22 | 16 |
| Orange 9.00% 3/1/2031 <sup>(a)</sup>  | 2434 | 2958 |
| Owens & Minor, Inc. 6.625% 4/1/2030 <sup>(e)</sup>  | 40 | 33 |
| Pacific Gas and Electric Co. 3.15% 1/1/2026  | 3000 | 2991 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 542 | 544 |
| Pacific Gas and Electric Co. 6.40% 6/15/2033  | 1500 | 1613 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040  | 4525 | 3432 |
| PacifiCorp 3.30% 3/15/2051  | 150 | 99 |
| PacifiCorp 2.90% 6/15/2052  | 280 | 171 |
| PacifiCorp 5.35% 12/1/2053  | 525 | 485 |
| PacifiCorp 5.50% 5/15/2054  | 980 | 926 |
| PacifiCorp 5.80% 1/15/2055  | 500 | 491 |
| Panama (Republic of) 3.75% 4/17/2026  | 465 | 462 |
| Panama (Republic of) 7.50% 3/1/2031  | 2325 | 2559 |
| Park Intermediate Holdings, LLC 5.875% 10/1/2028 <sup>(e)</sup>  | 65 | 65 |
| Park Intermediate Holdings, LLC 4.875% 5/15/2029 <sup>(e)</sup>  | 65 | 63 |
| Park Intermediate Holdings, LLC 7.00% 2/1/2030 <sup>(e)</sup>  | 55 | 57 |
| Party City Holdings, Inc. 0% 8/27/2030 <sup>(f)</sup>  | 2 | — <br><sup>(l)</sup><br>|
| PEAC Solutions Receivables, LLC, Series 2025-1A, Class A2, 4.94% 10/20/2028 <sup>(d)(e)</sup>  | 1059 | 1067 |
| Performance Food Group, Inc. 5.50% 10/15/2027 <sup>(e)</sup>  | 11 | 11 |
| Permian Resources Operating, LLC 9.875% 7/15/2031 <sup>(e)</sup>  | 3 | 3 |
| Permian Resources Operating, LLC 7.00% 1/15/2032 <sup>(e)</sup>  | 25 | 26 |
| Permian Resources Operating, LLC 6.25% 2/1/2033 <sup>(e)</sup>  | 106 | 108 |
| Petroleos Mexicanos 6.875% 10/16/2025  | 946 | 945 |
| Petroleos Mexicanos 6.875% 8/4/2026  | 638 | 647 |
| Petroleos Mexicanos 6.49% 1/23/2027  | 5999 | 6064 |
| Petroleos Mexicanos 6.50% 3/13/2027  | 4242 | 4298 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 20114 | 20472 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 65 | 63 |

---

American Funds Insurance Series — Page 233 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Petroleos Mexicanos 6.70% 2/16/2032  | USD779 | $772 |
| Petroleos Mexicanos 6.95% 1/28/2060  | 55 | 45 |
| Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033  | 2128 | 2150 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 188 | 182 |
| PG&E Corp. 5.00% 7/1/2028  | 235 | 233 |
| PG&E Corp. 5.25% 7/1/2030  | 175 | 173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(a)</sup>  | 145 | 149 |
| Philip Morris International, Inc. 5.125% 11/17/2027  | 315 | 322 |
| Philip Morris International, Inc. 2.10% 5/1/2030  | 634 | 578 |
| Philip Morris International, Inc. 5.75% 11/17/2032  | 1554 | 1657 |
| Philip Morris International, Inc. 5.375% 2/15/2033  | 1382 | 1444 |
| PNC Financial Services Group, Inc. 5.676% 1/22/2035 (USD-SOFR + 1.902% on 1/22/2034) <sup>(a)</sup>  | 375 | 396 |
| POSCO 4.875% 1/23/2027 <sup>(e)</sup>  | 510 | 514 |
| Post Holdings, Inc. 5.50% 12/15/2029 <sup>(e)</sup>  | 80 | 80 |
| Post Holdings, Inc. 4.625% 4/15/2030 <sup>(e)</sup>  | 444 | 429 |
| Post Holdings, Inc. 6.25% 2/15/2032 <sup>(e)</sup>  | 33 | 34 |
| Prestige Brands, Inc. 3.75% 4/1/2031 <sup>(e)</sup>  | 120 | 111 |
| Prio Luxembourg Holding SARL 6.125% 6/9/2026  | 910 | 909 |
| Procter & Gamble Co. 3.00% 3/25/2030  | 338 | 325 |
| Progress Residential Trust, Series 2025-SFR3, Class A, 3.39% 7/17/2042 <sup>(d)(e)</sup>  | 902 | 855 |
| PRP Advisors, LLC, Series 2025-RPL3, Class A1, 3.25% 4/25/2055 (4.25% on 4/1/2028) <sup>(a)(d)(e)</sup>  | 413 | 399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PT Bank Negara Indonesia (Persero) Tbk 4.30% junior subordinated perpetual bonds (5-year UST Yield Curve <br> Rate T Note Constant Maturity + 3.466% on 3/24/2027) <sup>(a)</sup>  | 2755 | 2676 |
| PT Freeport Indonesia 5.315% 4/14/2032  | 449 | 455 |
| Quikrete Holdings, Inc. 6.375% 3/1/2032 <sup>(e)</sup>  | 40 | 41 |
| Quikrete Holdings, Inc. 6.75% 3/1/2033 <sup>(e)</sup>  | 10 | 10 |
| Radiology Partners, Inc. 9.781% PIK 2/15/2030 <sup>(e)(i)</sup>  | 296 | 290 |
| Raizen Fuels Finance SA 6.45% 3/5/2034 <sup>(e)</sup>  | 910 | 883 |
| Range Resources Corp. 4.75% 2/15/2030 <sup>(e)</sup>  | 145 | 142 |
| Repsol E&P Capital Markets US, LLC 5.204% 9/16/2030 <sup>(e)</sup>  | 689 | 694 |
| Repsol E&P Capital Markets US, LLC 5.976% 9/16/2035 <sup>(e)</sup>  | 683 | 696 |
| Reworld Holding Corp. 4.875% 12/1/2029 <sup>(e)</sup>  | 25 | 24 |
| RHP Hotel Properties, LP 7.25% 7/15/2028 <sup>(e)</sup>  | 80 | 83 |
| RHP Hotel Properties, LP 4.50% 2/15/2029 <sup>(e)</sup>  | 90 | 88 |
| RHP Hotel Properties, LP 6.50% 6/15/2033 <sup>(e)</sup>  | 30 | 31 |
| Rio Tinto Finance (USA) PLC 5.25% 3/14/2035  | 1420 | 1464 |
| RLJ Lodging Trust, LP 4.00% 9/15/2029 <sup>(e)</sup>  | 25 | 24 |
| Roper Technologies, Inc. 4.45% 9/15/2030  | 2900 | 2913 |
| Roper Technologies, Inc. 5.10% 9/15/2035  | 925 | 933 |
| Royal Bank of Canada 5.153% 2/4/2031 (USD-SOFR + 1.03% on 2/4/2030) <sup>(a)</sup>  | 1700 | 1752 |
| Royal Bank of Canada 4.971% 5/2/2031 (USD-SOFR + 1.13% on 5/2/2030) <sup>(a)</sup>  | 500 | 512 |
| Royal Caribbean Cruises, Ltd. 5.50% 4/1/2028 <sup>(e)</sup>  | 75 | 76 |
| Royal Caribbean Cruises, Ltd. 6.00% 2/1/2033 <sup>(e)</sup>  | 90 | 92 |
| Sabre GLBL, Inc. 11.125% 7/15/2030 <sup>(e)</sup>  | 25 | 24 |
| Sally Holdings, LLC 6.75% 3/1/2032  | 107 | 111 |
| Samarco Mineracao SA 9.00% PIK 6/30/2031 (5.00% PIK and 4.00% Cash on 12/30/2025) <sup>(a)(i)</sup>  | 3331 | 3351 |
| Samarco Mineracao SA 9.00% PIK 6/30/2031 (5.00% PIK and 4.00% Cash on 12/30/2025) <sup>(a)(e)(i)</sup>  | 454 | 456 |
| Sands China, Ltd. 5.40% 8/8/2028  | 2710 | 2774 |
| Santander Holdings USA, Inc. 3.244% 10/5/2026  | 3750 | 3714 |
| Sasol Financing USA, LLC 8.75% 5/3/2029 <sup>(b)</sup>  | 1330 | 1381 |
| Sats Treasury Pte., Ltd. 4.828% 1/23/2029  | 350 | 357 |
| Saturn Oil & Gas, Inc. 9.625% 6/15/2029 <sup>(e)</sup>  | 64 | 66 |
| Scentre Group Trust 1 3.75% 3/23/2027 <sup>(e)</sup>  | 110 | 109 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class A3, 5.11% 11/21/2033 <sup>(d)(e)</sup>  | 2846 | 2916 |

---

American Funds Insurance Series — Page 234 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Science Applications International Corp. 5.875% 11/1/2033 <sup>(e)</sup>  | USD10 | $10 |
| Scientific Games Holdings, LP 6.625% 3/1/2030 <sup>(e)</sup>  | 46 | 43 |
| SCIH Salt Holdings, Inc. 4.875% 5/1/2028 <sup>(e)</sup>  | 115 | 112 |
| Sealed Air Corp. 6.125% 2/1/2028 <sup>(e)</sup>  | 180 | 183 |
| Sealed Air Corp. 6.50% 7/15/2032 <sup>(e)</sup>  | 123 | 127 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class B, 5.038% 7/25/2031 <sup>(d)(e)</sup>  | 140 | 141 |
| Securitized Term Auto Receivables Trust, Series 2025-B, Class B, 4.925% 12/29/2032 <sup>(d)(e)</sup>  | 709 | 716 |
| Serbia (Republic of) 6.25% 5/26/2028 <sup>(e)</sup>  | 740 | 773 |
| Service Corp. International 5.75% 10/15/2032  | 35 | 35 |
| Service Properties Trust 0% 9/30/2027 <sup>(e)</sup>  | 30 | 26 |
| Service Properties Trust 8.625% 11/15/2031 <sup>(e)</sup>  | 60 | 64 |
| ServiceNow, Inc. 1.40% 9/1/2030  | 756 | 662 |
| Sirius XM Radio, LLC 3.125% 9/1/2026 <sup>(e)</sup>  | 50 | 49 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(e)</sup>  | 195 | 189 |
| Sirius XM Radio, LLC 4.125% 7/1/2030 <sup>(e)</sup>  | 39 | 37 |
| Sirius XM Radio, LLC 3.875% 9/1/2031 <sup>(e)</sup>  | 111 | 101 |
| SK hynix, Inc. 1.50% 1/19/2026  | 563 | 558 |
| SLM Corp. 6.50% 1/31/2030  | 85 | 89 |
| SM Energy Co. 6.50% 7/15/2028  | 45 | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SMB Private Education Loan Trust, Series 2023-C, Class A1B, (30-day Average USD-SOFR + 1.55%) 5.922% <br> 11/15/2052 <sup>(d)(e)(h)</sup>  | 514 | 520 |
| SMRC Automotive Holdings Netherlands BV 5.625% 7/11/2029 <sup>(e)</sup>  | 595 | 609 |
| Sonic Automotive, Inc. 4.625% 11/15/2029 <sup>(e)</sup>  | 45 | 44 |
| Sonic Automotive, Inc. 4.875% 11/15/2031 <sup>(e)</sup>  | 20 | 19 |
| Southern California Edison Co. 2.85% 8/1/2029  | 200 | 187 |
| Southern California Edison Co. 3.65% 2/1/2050  | 1700 | 1190 |
| Southern California Edison Co. 5.90% 3/1/2055  | 1100 | 1069 |
| Sprint, LLC 7.625% 3/1/2026  | 130 | 130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Starwood Mortgage Residential Trust, Series 2025-SFR5, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.601% 2/17/2042 <sup>(d)(e)(h)</sup>  | 216 | 216 |
| Starwood Property Trust, Inc. 5.25% 10/15/2028 <sup>(e)</sup>  | 100 | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State of Texas, Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, <br> 3.236% 10/1/2052  | 965 | 681 |
| State Street Corp. 5.146% 2/28/2036 (USD-SOFR + 1.217% on 2/28/2035) <sup>(a)</sup>  | 1450 | 1484 |
| Station Casinos, LLC 6.625% 3/15/2032 <sup>(e)</sup>  | 35 | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Steele Creek CLO, Ltd., Series 2019-2A, Class ARR, (3-month USD CME Term SOFR + 1.00%) 5.318% <br>7/15/2032 <sup>(d)(e)(h)</sup>  | 1749 | 1749 |
| Stillwater Mining Co. 4.00% 11/16/2026 <sup>(b)</sup>  | 2090 | 2071 |
| Sunoco, LP 7.00% 5/1/2029 <sup>(e)</sup>  | 30 | 31 |
| Sunoco, LP 4.50% 5/15/2029  | 290 | 283 |
| Sunoco, LP 4.50% 4/30/2030  | 35 | 34 |
| Surgery Center Holdings, Inc. 7.25% 4/15/2032 <sup>(e)</sup>  | 45 | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, (1-month USD CME Term SOFR + 1.443%) <br> 5.593% 2/15/2042 <sup>(d)(e)(h)</sup>  | 6917 | 6891 |
| Synopsys, Inc. 5.15% 4/1/2035  | 1410 | 1435 |
| Talen Energy Supply, LLC 8.625% 6/1/2030 <sup>(e)</sup>  | 69 | 73 |
| Talen Energy Supply, LLC, Term Loan B, (3-month USD CME Term SOFR + 2.50%) 6.733% 5/17/2030 <sup>(g)(h)</sup>  | 44 | 44 |
| Talos Production, Inc. 9.00% 2/1/2029 <sup>(e)</sup>  | 15 | 16 |
| Talos Production, Inc. 9.375% 2/1/2031 <sup>(e)</sup>  | 55 | 57 |
| Tenet Healthcare Corp. 6.125% 10/1/2028  | 25 | 25 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 455 | 458 |
| Teva Pharmaceutical Finance Netherlands III BV 6.00% 12/1/2032  | 200 | 208 |
| TGS ASA 8.50% 1/15/2030 <sup>(e)</sup>  | 200 | 206 |
| Tidewater, Inc. 9.125% 7/15/2030 <sup>(e)</sup>  | 10 | 11 |
| Tierra Mojada Luxembourg II SARL 5.75% 12/1/2040  | 863 | 850 |

---

American Funds Insurance Series — Page 235 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| T-Mobile USA, Inc. 2.40% 3/15/2029  | USD1,079 | $1016 |
| T-Mobile USA, Inc. 5.65% 1/15/2053  | 1400 | 1384 |
| Toronto-Dominion Bank (The) 4.783% 12/17/2029  | 424 | 434 |
| TotalEnergies Capital SA 5.488% 4/5/2054  | 1500 | 1485 |
| TransDigm, Inc. 4.875% 5/1/2029  | 80 | 79 |
| TransDigm, Inc. 6.875% 12/15/2030 <sup>(e)</sup>  | 85 | 88 |
| TransDigm, Inc. 6.625% 3/1/2032 <sup>(e)</sup>  | 45 | 46 |
| TransDigm, Inc. 6.375% 5/31/2033 <sup>(e)</sup>  | 75 | 76 |
| TransDigm, Inc. 6.75% 1/31/2034 <sup>(e)</sup>  | 140 | 145 |
| Transocean Poseidon, Ltd. 6.875% 2/1/2027 <sup>(e)</sup>  | 34 | 34 |
| Transocean Titan Financing, Ltd. 8.375% 2/1/2028 <sup>(e)</sup>  | 83 | 85 |
| Transocean, Inc. 8.75% 2/15/2030 <sup>(e)</sup>  | 30 | 32 |
| Transocean, Inc. 6.80% 3/15/2038  | 35 | 30 |
| Treehouse Park Improvement Association No.1 9.75% 12/1/2033 <sup>(e)(f)</sup>  | 100 | 100 |
| Tricon Residential Trust, Series 2023-SFR1, Class B, 5.10% 7/17/2040 <sup>(d)(e)</sup>  | 251 | 252 |
| Tricon Residential Trust, Series 2023-SFR1, Class C, 5.10% 7/17/2040 <sup>(d)(e)</sup>  | 100 | 100 |
| Truist Insurance Holdings, LLC, Term Loan, (3-month USD CME Term SOFR + 4.75%) 8.752% 5/6/2032 <sup>(g)(h)</sup>  | 124 | 126 |
| Turkey (Republic of), Series 30Y, 7.125% 7/17/2032  | 1360 | 1405 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(d)(e)</sup>  | 659 | 661 |
| U.S. Treasury 3.875% 5/31/2027  | 662 | 664 |
| U.S. Treasury 3.75% 6/30/2027  | 30 | 30 |
| U.S. Treasury 3.50% 9/30/2029  | 399 | 396 |
| U.S. Treasury 4.125% 10/31/2029  | 328 | 333 |
| U.S. Treasury 4.00% 5/31/2030  | 2995 | 3030 |
| U.S. Treasury 3.875% 6/30/2030 <sup>(m)</sup>  | 13418 | 13501 |
| U.S. Treasury 4.125% 11/30/2031  | 704 | 714 |
| U.S. Treasury 3.875% 8/15/2034  | 540 | 532 |
| U.S. Treasury 4.625% 2/15/2035 <sup>(m)</sup>  | 1681 | 1747 |
| U.S. Treasury 1.75% 8/15/2041 <sup>(m)</sup>  | 4650 | 3156 |
| U.S. Treasury 4.75% 11/15/2043 <sup>(m)</sup>  | 2650 | 2679 |
| U.S. Treasury 4.625% 5/15/2044  | 1210 | 1201 |
| U.S. Treasury 3.00% 8/15/2048 <sup>(m)</sup>  | 5045 | 3793 |
| U.S. Treasury 1.25% 5/15/2050 <sup>(m)</sup>  | 1625 | 797 |
| U.S. Treasury 4.75% 11/15/2053 <sup>(m)</sup>  | 4809 | 4818 |
| U.S. Treasury 4.25% 2/15/2054  | 681 | 629 |
| U.S. Treasury 4.625% 5/15/2054  | 1836 | 1804 |
| U.S. Treasury 4.50% 11/15/2054  | 143 | 138 |
| U.S. Treasury 4.625% 2/15/2055 <sup>(m)</sup>  | 2915 | 2865 |
| U.S. Treasury 4.75% 5/15/2055 <sup>(m)</sup>  | 2222 | 2229 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2026 <sup>(c)</sup>  | 843 | 841 |
| U.S. Treasury Inflation-Protected Security 2.375% 10/15/2028 <sup>(c)(m)</sup>  | 10643 | 11088 |
| U.S. Treasury Inflation-Protected Security 0.125% 2/15/2051 <sup>(c)</sup>  | 3511 | 1947 |
| U.S. Treasury Inflation-Protected Security 1.50% 2/15/2053 <sup>(c)</sup>  | 185 | 148 |
| U.S. Treasury Inflation-Protected Security 2.125% 2/15/2054 <sup>(c)(m)</sup>  | 2868 | 2649 |
| U.S. Treasury Inflation-Protected Security 2.375% 2/15/2055 <sup>(c)(m)</sup>  | 4617 | 4509 |
| UKG, Inc. 6.875% 2/1/2031 <sup>(e)</sup>  | 77 | 80 |
| Uniform Mortgage-Backed Security 3.50% 10/1/2055 <sup>(d)(k)</sup>  | 1250 | 1142 |
| Uniform Mortgage-Backed Security 4.50% 10/1/2055 <sup>(d)(k)</sup>  | 32 | 31 |
| Uniform Mortgage-Backed Security 5.50% 10/1/2055 <sup>(d)(k)</sup>  | 221 | 223 |
| Uniform Mortgage-Backed Security 6.50% 10/1/2055 <sup>(d)(k)</sup>  | 742 | 767 |
| Uniform Mortgage-Backed Security 7.00% 10/1/2055 <sup>(d)(k)</sup>  | 10002 | 10463 |
| Uniform Mortgage-Backed Security 3.50% 11/1/2055 <sup>(d)(k)</sup>  | 922 | 842 |
| Uniform Mortgage-Backed Security 5.50% 11/1/2055 <sup>(d)(k)</sup>  | 101 | 101 |
| Uniform Mortgage-Backed Security 6.50% 11/1/2055 <sup>(d)(k)</sup>  | 556 | 575 |
| United Mexican States 5.375% 3/22/2033  | 765 | 765 |

---

American Funds Insurance Series — Page 236 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. dollars (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| United Mexican States 6.00% 5/7/2036  | USD970 | $994 |
| United Mexican States 6.338% 5/4/2053  | 425 | 414 |
| United Natural Foods, Inc. 6.75% 10/15/2028 <sup>(e)</sup>  | 85 | 85 |
| United Rentals (North America), Inc. 3.875% 2/15/2031  | 130 | 123 |
| UnitedHealth Group, Inc. 5.30% 6/15/2035  | 1450 | 1499 |
| UnitedHealth Group, Inc. 5.95% 6/15/2055  | 1450 | 1513 |
| Univision Communications, Inc. 8.00% 8/15/2028 <sup>(e)</sup>  | 110 | 114 |
| Univision Communications, Inc. 4.50% 5/1/2029 <sup>(e)</sup>  | 250 | 236 |
| US Foods, Inc. 4.625% 6/1/2030 <sup>(e)</sup>  | 35 | 34 |
| Vail Resorts, Inc. 5.625% 7/15/2030 <sup>(e)</sup>  | 35 | 35 |
| Vail Resorts, Inc. 6.50% 5/15/2032 <sup>(e)</sup>  | 20 | 21 |
| Valvoline, Inc. 3.625% 6/15/2031 <sup>(e)</sup>  | 85 | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 2.00%) 8.00% PIK and 6.261% Cash <br> 1/16/2026 <sup>(f)(g)(h)(i)</sup>  | 33 | 8 |
| Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 8.00%) 8.00% PIK 7/16/2026 <sup>(f)(g)(h)(i)</sup>  | 33 | 8 |
| Venator Material, LLC, Term Loan, (USD-SOFR + 10.00%) 8.00% PIK and 6.322% Cash 10/12/2028 <sup>(f)(g)(h)(i)</sup>  | 55 | 14 |
| Venture Global Calcasieu Pass, LLC 3.875% 8/15/2029 <sup>(e)</sup>  | 35 | 34 |
| Venture Global Calcasieu Pass, LLC 6.25% 1/15/2030 <sup>(e)</sup>  | 31 | 32 |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031 <sup>(e)</sup>  | 110 | 104 |
| Venture Global LNG, Inc. 8.125% 6/1/2028 <sup>(e)</sup>  | 80 | 83 |
| Venture Global LNG, Inc. 9.875% 2/1/2032 <sup>(e)</sup>  | 82 | 89 |
| Venture Global Plaquemines LNG, LLC 7.50% 5/1/2033 <sup>(e)</sup>  | 55 | 61 |
| Venture Global Plaquemines LNG, LLC 6.50% 1/15/2034 <sup>(e)</sup>  | 115 | 121 |
| Venture Global Plaquemines LNG, LLC 7.75% 5/1/2035 <sup>(e)</sup>  | 25 | 28 |
| Venture Global Plaquemines LNG, LLC 6.75% 1/15/2036 <sup>(e)</sup>  | 85 | 90 |
| Veralto Corp. 5.35% 9/18/2028  | 2900 | 2994 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.218% 6/25/2069 (7.218% on 5/1/2028) <sup>(a)(d)(e)</sup>  | 589 | 597 |
| Verus Securitization Trust, Series 2024-9, Class A1, 5.438% 11/25/2069 <sup>(d)(e)(h)</sup>  | 801 | 807 |
| Verus Securitization Trust, Series 2025-7, Class A1, 5.129% 8/25/2070 (6.129% on 8/1/2029) <sup>(a)(d)(e)</sup>  | 1454 | 1462 |
| Voyager Parent, LLC 9.25% 7/1/2032 <sup>(e)</sup>  | 150 | 159 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042  | 125 | 100 |
| Warrior Met Coal, Inc. 7.875% 12/1/2028 <sup>(e)</sup>  | 71 | 72 |
| Waste Management, Inc. 3.875% 1/15/2029  | 50 | 50 |
| Weatherford International, Ltd. 8.625% 4/30/2030 <sup>(e)</sup>  | 93 | 95 |
| Weatherford International, Ltd. 6.75% 10/15/2033 <sup>(e)</sup>  | 65 | 65 |
| Wells Fargo & Co. 3.526% 3/24/2028 (USD-SOFR + 1.51% on 3/24/2027) <sup>(a)</sup>  | 4698 | 4657 |
| WESCO Distribution, Inc. 7.25% 6/15/2028 <sup>(e)</sup>  | 200 | 203 |
| WESCO Distribution, Inc. 6.625% 3/15/2032 <sup>(e)</sup>  | 150 | 156 |
| Westlake Automobile Receivables Trust, Series 2023-1, Class B, 5.41% 1/18/2028 <sup>(d)(e)</sup>  | 14 | 14 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class A2, 4.99% 9/20/2032 <sup>(d)(e)</sup>  | 121 | 122 |
| WMG Acquisition Corp. 3.75% 12/1/2029 <sup>(e)</sup>  | 110 | 105 |
| WMG Acquisition Corp. 3.00% 2/15/2031 <sup>(e)</sup>  | 80 | 74 |
| Wolfspeed, Inc. 4.00% PIK and 9.875% Cash 6/23/2030 <sup>(b)(i)</sup>  | 88 | 97 |
| Wynn Macau, Ltd. 6.75% 2/15/2034 <sup>(e)</sup>  | 875 | 888 |
| Wynn Resorts Finance, LLC 7.125% 2/15/2031 <sup>(e)</sup>  | 43 | 46 |
|  |  | 625393 |
| **Total bonds, notes & other debt instruments** (cost: $1,334,835,000) |  | 1313283 |
| Preferred securities 0.01%<br> **U.S. dollars 0.01%**<br>| Shares |  |
| ACR III LSC Holdings, LLC, Series B, preferred shares <sup>(e)(f)(n)</sup>  | 48 | 78 |
| **Total preferred securities** (cost: $49,000) |  | 78 |

---

American Funds Insurance Series — Page 237 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks 0.00%<br> **U.S. dollars 0.00%**<br>| Shares | Value<br> (000)<br>|
| Altera Infrastructure, LP <sup>(f)</sup>  | 1441 | $57 |
| DSG TopCo, Inc. <sup>(n)</sup>  | 420 | 5 |
| Endo, LP, nonvoting shares <sup>(f)(n)</sup>  | 205000 | — <br><sup>(l)</sup><br>|
| Venator Materials PLC <sup>(f)(n)</sup>  | 232 | — <br><sup>(l)</sup><br>|
|  |  | 62 |
| **Total common stocks** (cost: $982,000) |  | 62 |
| Investment funds 1.52% |  |  |
| Capital Group Central Corporate Bond Fund <sup>(o)</sup> <br>| 2643693 | 22577 |
| **Total investment funds** (cost: $20,724,000) |  | 22577 |
| Short-term securities 10.54%<br> **Money market investments 10.54%**<br>|  |  |
| Capital Group Central Cash Fund 4.17% <sup>(o)(p)</sup>  | 1569095 | 156910 |
| **Total short-term securities** (cost: $156,906,000) |  | 156910 |
| Options purchased (equity style) 0.00% |  |  |
| Options purchased (equity style)\* |  | 2 |
| **Total options purchased (equity style)** (cost: $21,000) |  | 2 |
| **Total investment securities 100.33%** (cost: $1,513,517,000) |  | 1492912 |
| Total options written<sup>†</sup> 0.00% (premium received: $6,000) |  | — <br><sup>(l)</sup><br>|
| **Other assets less liabilities (0.33)%** |  | (4957)<br>|
| **Net assets 100.00%** |  | $1487955 |

---

<sup>\*</sup>Options purchased (equity style)

------

**Options on foreign currencies** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Counterparty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Call** |  |  |  |  |  |
| CALL GBP/USD FX Option | Goldman Sachs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD1.43 | GBP3,625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2 |

---

<sup>†</sup>Options written (equity style)

------

**Options on foreign currencies** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Counterparty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Call** |  |  |  |  |  |
| CALL GBP/USD FX Option | Goldman Sachs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD1.49 | GBP(3625) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(l)</sup><br>|

---

American Funds Insurance Series — Page 238 of 319

------

**unaudited**

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&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;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 3 Month Euro EURIBOR Futures | Short | 1 | 12/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD(288)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(l)</sup><br>|
| 3 Month SONIA Futures | Long | 141 | 3/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
| 3 Month CORRA Futures | Long | 1793 | 6/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 314889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1029 |
| 3 Month Euro EURIBOR Futures | Long | 1 | 12/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(l)</sup><br>|
| 2 Year Italy Government Bond Futures | Long | 291 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23)<br>|
| 2 Year Euro-Schatz Futures | Short | 293 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (36801)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48 |
| 2 Year Canadian Government Bond Futures | Long | 344 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99 |
| 2 Year U.S. Treasury Note Futures | Long | 934 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (310)<br>|
| 3 Year Australian Treasury Bond Futures | Short | 1 | 12/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(l)</sup><br>|
| 5 Year Euro-Bobl Futures | Long | 227 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (39)<br>|
| 5 Year Canadian Government Bond Futures | Long | 209 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222 |
| 5 Year U.S. Treasury Note Futures | Long | 312 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8)<br>|
| 10 Year French Government Bond Futures | Long | 46 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 |
| 10 Year Italy Government Bond Futures | Short | 12 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1688)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18)<br>|
| 10 Year Euro-Bund Futures | Short | 694 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (104758)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (629)<br>|
| 10 Year Australian Treasury Bond Futures | Long | 78 | 12/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| 10 Year Japanese Government Bond Futures | Short | 122 | 12/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (112022)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 807 |
| 10 Year UK Gilt Futures | Long | 401 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193 |
| 10 Year U.S. Treasury Note Futures | Long | 208 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |
| 10 Year Ultra U.S. Treasury Note Futures | Long | 75 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
| 10 Year Canadian Government Bond Futures | Short | 87 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7655)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (170)<br>|
| 20 Year U.S. Treasury Note Futures | Long | 157 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 418 |
| 30 Year Euro-Buxl Futures | Short | 70 | 12/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9408)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (125)<br>|
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 137 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1947 |

---

Forward currency contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <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;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| USD | 5495 | JPY | 780000 | Morgan Stanley | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $219 |
| USD | 6274 | EUR | 5280 | BNP Paribas | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74 |
| TRY | 115595 | USD | 2733 | Barclays Bank PLC | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
| TRY | 22140 | USD | 525 | Citibank | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| USD | 1387 | AUD | 2130 | Goldman Sachs | 10/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23)<br>|
| USD | 12826 | AUD | 19449 | HSBC Bank | 10/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (44)<br>|
| EUR | 5100 | CAD | 8217 | JPMorgan Chase | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84 |
| HUF | 1284310 | EUR | 3254 | JPMorgan Chase | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
| USD | 1527 | NOK | 14900 | BNP Paribas | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 |
| HUF | 563270 | USD | 1681 | Citibank | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 |
| CZK | 47290 | EUR | 1932 | Goldman Sachs | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 |
| CZK | 18000 | USD | 857 | UBS AG | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |
| MYR | 21930 | USD | 5204 | HSBC Bank | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| USD | 868 | NOK | 8645 | Goldman Sachs | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | 276 | PLN | 1000 | UBS AG | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(l)</sup><br>|
| SEK | 19550 | USD | 2077 | BNP Paribas | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(l)</sup><br>|
| SGD | 1400 | USD | 1088 | Bank of America | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|

---

American Funds Insurance Series — Page 239 of 319

------

**unaudited**

Forward currency contracts (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp;&nbsp; Settlement<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<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;&nbsp;&nbsp;&nbsp; Currency sold<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp;&nbsp; Settlement<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| PLN | 6680 | EUR | 1568 | Standard Chartered Bank | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(4)<br>|
| USD | 2227 | HUF | 741960 | Bank of America | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| SEK | 44125 | USD | 4709 | Bank of America | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| USD | 7419 | MYR | 31305 | HSBC Bank | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (24)<br>|
| USD | 1806 | ZAR | 31710 | Goldman Sachs | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (29)<br>|
| JPY | 540730 | USD | 3692 | BNP Paribas | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33)<br>|
| USD | 1828 | HUF | 619035 | Citibank | 10/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (34)<br>|
| USD | 2106 | THB | 66700 | Citibank | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| USD | 3110 | THB | 99660 | Standard Chartered Bank | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 |
| ZAR | 27630 | USD | 1576 | Citibank | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 |
| USD | 1834 | SEK | 17170 | Citibank | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 |
| MYR | 3695 | USD | 876 | HSBC Bank | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| EUR | 1783 | RON | 9075 | BNP Paribas | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(l)</sup><br>|
| EUR | 3120 | USD | 3669 | HSBC Bank | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| EUR | 19565 | USD | 22994 | Citibank | 10/9/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10)<br>|
| USD | 4794 | JPY | 696200 | BNP Paribas | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
| USD | 8086 | GBP | 5975 | Morgan Stanley | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 |
| EUR | 35264 | USD | 41409 | Citibank | 10/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| BRL | 81240 | USD | 14865 | JPMorgan Chase | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345 |
| USD | 5866 | INR | 518075 | Standard Chartered Bank | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 |
| USD | 1335 | IDR | 21992435 | BNP Paribas | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| MXN | 46800 | USD | 2543 | Goldman Sachs | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| USD | 2614 | INR | 232320 | Standard Chartered Bank | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| INR | 25000 | USD | 283 | HSBC Bank | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 1686 | CLP | 1623750 | Morgan Stanley | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| USD | 2933 | BRL | 15740 | Goldman Sachs | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
| USD | 2365 | MXN | 44515 | BNP Paribas | 10/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (62)<br>|
| CNH | 779737 | USD | 109503 | HSBC Bank | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 |
| USD | 2280 | CAD | 3148 | BNP Paribas | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 |
| EUR | 4535 | USD | 5328 | HSBC Bank | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| CNH | 10800 | USD | 1520 | Barclays Bank PLC | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| CNH | 20515 | USD | 2890 | UBS AG | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8)<br>|
| CAD | 2280 | USD | 1647 | Bank of New York Mellon | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8)<br>|
| CAD | 5525 | USD | 4024 | Citibank | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (51)<br>|
| CAD | 16013 | USD | 11584 | BNP Paribas | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (69)<br>|
| CAD | 15460 | USD | 11239 | Morgan Stanley | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (121)<br>|
| THB | 190470 | USD | 6017 | UBS AG | 10/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (141)<br>|
| EUR | 20871 | USD | 24516 | Goldman Sachs | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| USD | 3530 | COP | 13816730 | Citibank | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 |
| USD | 2866 | JPY | 421190 | Goldman Sachs | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13 |
| USD | 3256 | EUR | 2766 | HSBC Bank | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| CNH | 47945 | USD | 6746 | HSBC Bank | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12)<br>|
| AUD | 4287 | USD | 2856 | HSBC Bank | 10/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18)<br>|
| USD | 8073 | GBP | 5910 | Morgan Stanley | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 |
| EUR | 7017 | GBP | 6085 | BNP Paribas | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
| USD | 970 | JPY | 141435 | Morgan Stanley | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |
| DKK | 46980 | EUR | 6296 | Citibank | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| NZD | 2799 | USD | 1675 | HSBC Bank | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (51)<br>|
| USD | 11450 | DKK | 73090 | JPMorgan Chase | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (62)<br>|
| JPY | 3845822 | USD | 26298 | UBS AG | 10/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (233)<br>|
| CNH | 21500 | USD | 3031 | Bank of New York Mellon | 10/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|

---

American Funds Insurance Series — Page 240 of 319

------

**unaudited**

Forward currency contracts (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp;&nbsp; Settlement<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<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;&nbsp;&nbsp;&nbsp; Currency sold<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp;&nbsp; Settlement<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| USD | 32489 | BRL | 173627 | Citibank | 10/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $95 |
| USD | 3803 | NOK | 37576 | HSBC Bank | 10/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |
| GBP | 4043 | EUR | 4620 | Morgan Stanley | 10/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| CHF | 1007 | USD | 1263 | Bank of America | 10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| IDR | 14450980 | USD | 858 | Citibank | 10/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| COP | 135700 | USD | 35 | UBS AG | 10/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(l)</sup><br>|
| USD | 10120 | KRW | 14246054 | Citibank | 10/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (39)<br>|
| CZK | 109150 | EUR | 4450 | Citibank | 11/7/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| JPY | 910380 | USD | 6173 | JPMorgan Chase | 12/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| CZK | 117510 | USD | 5603 | Goldman Sachs | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 |
| USD | 2245 | GBP | 1645 | Citibank | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| USD | 3445 | THB | 110640 | BNP Paribas | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 |
| USD | 4914 | CNH | 34715 | Citibank | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| USD | 771 | EUR | 649 | BNP Paribas | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| USD | 2881 | SGD | 3690 | Standard Chartered Bank | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| MYR | 8120 | USD | 1931 | HSBC Bank | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| EUR | 1475 | USD | 1740 | Citibank | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(l)</sup><br>|
| USD | 1936 | CNH | 13730 | Standard Chartered Bank | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| EUR | 1480 | SEK | 16367 | BNP Paribas | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| CNH | 34715 | USD | 4910 | HSBC Bank | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| USD | 4629 | EUR | 3935 | HSBC Bank | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| THB | 55355 | USD | 1733 | Citibank | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19)<br>|
| USD | 4978 | PLN | 18215 | Goldman Sachs | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27)<br>|
| NOK | 19804 | USD | 2017 | BNP Paribas | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (32)<br>|
| EUR | 4155 | USD | 4945 | Citibank | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (44)<br>|
| USD | 2251 | BRL | 12460 | JPMorgan Chase | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (47)<br>|
| NOK | 48486 | USD | 4943 | Goldman Sachs | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (83)<br>|
| EUR | 2825 | USD | 3350 | Citibank | 12/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $443 |

---

Swap contracts

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Expiration <br>date | &nbsp;&nbsp; Notional <br>amount <br>(000) | Value at <br>9/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 9/30/2025 <br>(000) |
| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Expiration <br>date | &nbsp;&nbsp; Notional <br>amount <br>(000) | Value at <br>9/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 9/30/2025 <br>(000) |
| 5.298% | Annual | 6-month PLN-WIBOR | Semi-annual | &nbsp;&nbsp; 2/14/2026 | PLN14,940 | &nbsp;&nbsp; $6 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6 |
| 6-month CZK-PRIBOR | Semi-annual | 3.875% | Annual | &nbsp;&nbsp; 2/14/2026 | CZK83,740 | &nbsp;&nbsp; (5)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5)<br>|
| 6-month EURIBOR | Semi-annual | 2.2032% | Annual | &nbsp;&nbsp; 2/10/2027 | EUR9,730 | &nbsp;&nbsp; (11)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (11)<br>|
| 6-month EURIBOR | Semi-annual | 2.2007% | Annual | &nbsp;&nbsp; 2/10/2027 | 9720 | &nbsp;&nbsp; (11)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (11)<br>|
| 4.254% | Annual | SONIA | Annual | &nbsp;&nbsp; 5/9/2027 | GBP4,083 | &nbsp;&nbsp; 38 | &nbsp;&nbsp; — | &nbsp;&nbsp; 38 |
| 2.5225% | Semi-annual | Bank of Canada Overnight Repo | Semi-annual | &nbsp;&nbsp; 5/22/2027 | CAD25,620 | &nbsp;&nbsp; 61 | &nbsp;&nbsp; — | &nbsp;&nbsp; 61 |
| 3.5175% | Annual | SOFR | Annual | &nbsp;&nbsp; 8/15/2027 | USD24,180 | &nbsp;&nbsp; 48 | &nbsp;&nbsp; — | &nbsp;&nbsp; 48 |
| SOFR | Annual | 3.4925% | Annual | &nbsp;&nbsp; 8/19/2027 | 67090 | &nbsp;&nbsp; (105)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (105)<br>|
| 6-month PLN-WIBOR | Semi-annual | 4.14% | Annual | &nbsp;&nbsp; 9/2/2027 | PLN70,510 | &nbsp;&nbsp; (15)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (15)<br>|
| 3.515% | Annual | 6-month CZK-PRIBOR | Semi-annual | &nbsp;&nbsp; 9/2/2027 | CZK396,600 | &nbsp;&nbsp; (61)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (61)<br>|
| SOFR | Annual | 3.2685% | Annual | &nbsp;&nbsp; 9/9/2027 | USD88,350 | &nbsp;&nbsp; 211 | &nbsp;&nbsp; — | &nbsp;&nbsp; 211 |

---

American Funds Insurance Series — Page 241 of 319

------

**unaudited**

Swap contracts (continued)

------

**Interest rate swaps (continued)**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Expiration<br> date | &nbsp;&nbsp; Notional<br> amount<br> (000) | Value at<br> 9/30/2025<br> (000) | Upfront<br> premium<br> paid<br> (received)<br> (000) | Unrealized<br> appreciation<br> (depreciation)<br> at 9/30/2025<br> (000) |
| Rate | &nbsp;&nbsp; Payment<br> frequency<br>| Rate | &nbsp;&nbsp; Payment<br> frequency<br>| Expiration<br> date | &nbsp;&nbsp; Notional<br> amount<br> (000) | Value at<br> 9/30/2025<br> (000) | Upfront<br> premium<br> paid<br> (received)<br> (000) | Unrealized<br> appreciation<br> (depreciation)<br> at 9/30/2025<br> (000) |
| SOFR | Annual | 3.3395% | Annual | &nbsp;&nbsp; 9/23/2027 | USD67,500 | &nbsp;&nbsp; $65 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $65 |
| 1.9308% | Annual | Euro STR | Annual | &nbsp;&nbsp; 9/24/2027 | EUR32,500 | &nbsp;&nbsp; (13)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (13)<br>|
| 6-month EURIBOR | Semi-annual | 2.8272% | Annual | &nbsp;&nbsp; 6/18/2029 | 5930 | &nbsp;&nbsp; (132)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (132)<br>|
| 3.4928% | Annual | SONIA | Annual | &nbsp;&nbsp; 8/6/2029 | GBP5,260 | &nbsp;&nbsp; (76)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (76)<br>|
| SOFR | Annual | 3.4705% | Annual | &nbsp;&nbsp; 2/10/2030 | USD16,910 | &nbsp;&nbsp; (76)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (76)<br>|
| 6-month EURIBOR | Semi-annual | 2.2577% | Annual | &nbsp;&nbsp; 3/5/2030 | EUR2,690 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; — | &nbsp;&nbsp; 12 |
| 6-month EURIBOR | Semi-annual | 2.2592% | Annual | &nbsp;&nbsp; 3/5/2030 | 2690 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; — | &nbsp;&nbsp; 12 |
| 6-month EURIBOR | Semi-annual | 2.2562% | Annual | &nbsp;&nbsp; 3/5/2030 | 2690 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; — | &nbsp;&nbsp; 12 |
| 3.925% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 3/5/2030 | NOK32,270 | &nbsp;&nbsp; (20)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (20)<br>|
| 6-month EURIBOR | Semi-annual | 2.1912% | Annual | &nbsp;&nbsp; 3/6/2030 | EUR2,500 | &nbsp;&nbsp; 19 | &nbsp;&nbsp; — | &nbsp;&nbsp; 19 |
| 4.165% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 3/24/2030 | NOK26,280 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10 |
| 4.1703% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 3/24/2030 | 16900 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7 |
| 4.162% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 3/24/2030 | 16890 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6 |
| 4.165% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 3/25/2030 | 62070 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; — | &nbsp;&nbsp; 24 |
| 3-month SEK-STIBOR | Quarterly | 2.3527% | Annual | &nbsp;&nbsp; 4/22/2030 | SEK67,510 | &nbsp;&nbsp; (9)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (9)<br>|
| 3-month SEK-STIBOR | Quarterly | 2.3532% | Annual | &nbsp;&nbsp; 4/22/2030 | 67510 | &nbsp;&nbsp; (10)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (10)<br>|
| 2.2033% | Annual | 6-month EURIBOR | Semi-annual | &nbsp;&nbsp; 4/22/2030 | EUR6,350 | &nbsp;&nbsp; (49)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (49)<br>|
| 2.2053% | Annual | 6-month EURIBOR | Semi-annual | &nbsp;&nbsp; 4/22/2030 | 6330 | &nbsp;&nbsp; (49)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (49)<br>|
| 3-month SEK-STIBOR | Quarterly | 2.2732% | Annual | &nbsp;&nbsp; 8/14/2030 | SEK60,130 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; — | &nbsp;&nbsp; 24 |
| 2.3523% | Annual | 6-month EURIBOR | Semi-annual | &nbsp;&nbsp; 8/14/2030 | EUR5,570 | &nbsp;&nbsp; (7)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (7)<br>|
| 3.8108% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 8/14/2030 | NOK98,800 | &nbsp;&nbsp; (112)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (112)<br>|
| 6-month NOK-NIBOR | Semi-annual | 3.99% | Annual | &nbsp;&nbsp; 9/22/2030 | 64900 | &nbsp;&nbsp; 22 | &nbsp;&nbsp; — | &nbsp;&nbsp; 22 |
| 6-month NOK-NIBOR | Semi-annual | 4.09% | Annual | &nbsp;&nbsp; 9/23/2030 | 32700 | &nbsp;&nbsp; (4)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (4)<br>|
| 6-month NOK-NIBOR | Semi-annual | 4.08% | Annual | &nbsp;&nbsp; 9/23/2030 | 64270 | &nbsp;&nbsp; (5)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5)<br>|
| 6-month NOK-NIBOR | Semi-annual | 4.095% | Annual | &nbsp;&nbsp; 9/23/2030 | 64260 | &nbsp;&nbsp; (9)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (9)<br>|
| SOFR | Annual | 3.944% | Annual | &nbsp;&nbsp; 9/9/2055 | USD3,010 | &nbsp;&nbsp; (6)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (6)<br>|
| 6-month EURIBOR | Semi-annual | 2.8972% | Annual | &nbsp;&nbsp; 9/11/2055 | EUR1,740 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4 |
| SOFR | Annual | 3.9305% | Annual | &nbsp;&nbsp; 9/23/2055 | USD7,440 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3 |
| 6-month EURIBOR | Semi-annual | 2.9287% | Annual | &nbsp;&nbsp; 9/24/2055 | EUR3,250 | &nbsp;&nbsp; (17)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (17)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; $(218)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(218)<br>|

---

**Bilateral interest rate swaps** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Counterparty | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>9/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 9/30/2025 <br>(000) |
| Rate | Payment <br>frequency<br>| Rate | Payment <br>frequency<br>| Counterparty | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>9/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 9/30/2025 <br>(000) |
| 12.215% | At maturity | BZDIOVER | At maturity | Bank of <br> America<br>| 1/4/2027 | BRL44,390 | $(286)<br>| $— | $(286)<br>|
| 11.22441676% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/4/2027 | 30865 | (352)<br>|  | (352)<br>|
| 11.91% | At maturity | BZDIOVER | At maturity | Barclays Bank <br> PLC<br>| 1/4/2027 | 79860 | (603)<br>|  | (603)<br>|
| 11.405% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/4/2027 | 100270 | (958)<br>|  | (958)<br>|
| 13.995% | At maturity | BZDIOVER | At maturity | Barclays Bank <br> PLC<br>| 1/2/2029 | 52510 | 231 |  | 231 |
| 14.115% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2029 | 14440 | 75 |  | 75 |
| 14.05% | At maturity | BZDIOVER | At maturity | Barclays Bank <br> PLC<br>| 1/2/2029 | 10600 | 51 |  | 51 |
| 14.05% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2029 | 6440 | 31 |  | 31 |

---

American Funds Insurance Series — Page 242 of 319

------

**unaudited**

Swap contracts (continued)

------

**Interest rate swaps (continued)**

**Bilateral interest rate swaps (continued)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Counterparty | Expiration<br> date | Notional<br> amount<br> (000) | Value at<br> 9/30/2025<br> (000) | Upfront<br> premium<br> paid<br> (received)<br> (000) | Unrealized<br> appreciation<br> (depreciation)<br> at 9/30/2025<br> (000) |
| Rate | Payment<br> frequency<br>| Rate | Payment<br> frequency<br>| Counterparty | Expiration<br> date | Notional<br> amount<br> (000) | Value at<br> 9/30/2025<br> (000) | Upfront<br> premium<br> paid<br> (received)<br> (000) | Unrealized<br> appreciation<br> (depreciation)<br> at 9/30/2025<br> (000) |
| 11.495% | At maturity | BZDIOVER | At maturity | Bank of <br> America<br>| 1/2/2029 | BRL35,980 | $(487)<br>| $— | $(487)<br>|
| 10.045% | At maturity | BZDIOVER | At maturity | Goldman Sachs | 1/2/2029 | 55145 | (1508)<br>|  | (1508)<br>|
|  |  |  |  |  |  |  | $(3806)<br>| $— | $(3806)<br>|

---

**Credit default swaps** 

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&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;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | USD743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(17)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(17)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(l)</sup><br>|
| CDX.NA.HY.44 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | 11405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (909)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (735)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (174)<br>|
| CDX.EM.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | 9890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| ITRAXX.EUR.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | EUR22,640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (571)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (572)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| CDX.NA.IG.45 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | USD3,739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (84)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (83)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| ITRAXX.EUR.XO.44 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | EUR4,900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (610)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (608)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1975)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1803)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(172)<br>|

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Investment funds 1.52%** | **Investment funds 1.52%** | **Investment funds 1.52%** | **Investment funds 1.52%** | **Investment funds 1.52%** | **Investment funds 1.52%** | **Investment funds 1.52%** | **Investment funds 1.52%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Corporate Bond Fund  | $21147 | &nbsp;&nbsp; $780 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $650 | &nbsp;&nbsp; $22577 | &nbsp;&nbsp; $780 |
| **Short-term securities 10.54%** | **Short-term securities 10.54%** | **Short-term securities 10.54%** | **Short-term securities 10.54%** | **Short-term securities 10.54%** | **Short-term securities 10.54%** | **Short-term securities 10.54%** | **Short-term securities 10.54%** |
| **Money market investments 10.54%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(p)</sup> <br>| 23214 | &nbsp;&nbsp; 493591 | &nbsp;&nbsp; 359891 | &nbsp;&nbsp; (6)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; 156910 | &nbsp;&nbsp; 2114 |
| **Total 12.06%** |  |  |  | &nbsp;&nbsp; $(6)<br>| &nbsp;&nbsp; $652 | &nbsp;&nbsp; $179487 | &nbsp;&nbsp; $2894 |

---

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

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. 3.648% 3/31/2029 (3-month EUR-EURIBOR + <br> 3.67% on 3/31/2028) <sup>(a)</sup> <br>| 5/19/2020 | $5739 | $6006 | 0.41<br> %<br>|
| Metropolitan Life Global Funding I 0.55% 6/16/2027  | 12/11/2023 | 2055 | 2279 | 0.15 |
| Stillwater Mining Co. 4.00% 11/16/2026  | 1/26/2024-2/20/2024 | 1992 | 2071 | 0.14 |
| Sasol Financing USA, LLC 8.75% 5/3/2029  | 7/18/2023-2/16/2024 | 1338 | 1381 | 0.09 |

---

American Funds Insurance Series — Page 243 of 319

------

**unaudited**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition<br> date(s)<br>| Cost<br> (000)<br>| Value<br> (000)<br>| Percent<br> of net<br> assets<br>|
| Wolfspeed, Inc. 4.00% PIK and 9.875% Cash 6/23/2030 <sup>(i)</sup> <br>| 9/29/2025 | $88 | $97 | 0.01<br> %<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + <br> 7.25%) 11.288% 9/13/2029 <sup>(g)(h)</sup> <br>| 9/13/2023 | 26 | 27 | 0.00 <br><sup>(q)</sup><br>|
| **Total** |  | $11238 | $11861 | 0.80<br> %<br>|

---

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

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

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

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

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

<sup>(e)</sup> 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 $158,372,000, which represented 10.64% of the net assets of the fund. 

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

<sup>(g)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $1,432,000, which represented 0.10% of the net assets of the fund. 

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

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

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

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

<sup>(m)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $18,323,000, which represented 1.23% of the net assets of the fund. 

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

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

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

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

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| Assn. = Association |
| AUD = Australian dollars |
| BRL = Brazilian reais |
| BZDIOVER = Overnight Brazilian Interbank <br> Deposit Rate<br>|
| CAD = Canadian dollars |
| CHF = Swiss francs |
| CLO = Collateralized Loan Obligations |
| CLP = Chilean pesos |
| CME = CME Group |
| CNH = Chinese yuan renminbi |
| CNY = Chinese yuan renminbi |
| COP = Colombian pesos |
| CORRA = Canadian Overnight Repo Rate Aver-<br> age<br>|
| CZK = Czech korunas |
| DAC = Designated Activity Company |
| DKK = Danish kroner |

---

---

| |
|:---|
| EUR = Euros |
| EURIBOR = Euro Interbank Offered Rate |
| GBP = British pounds |
| HUF = Hungarian forints |
| ICE = Intercontinental Exchange, Inc. |
| IDR = Indonesian rupiah |
| INR = Indian rupees |
| JPY = Japanese yen |
| KRW = South Korean won |
| MXN = Mexican pesos |
| MYR = Malaysian ringgits |
| NIBOR = Norwegian Interbank Offered Rate |
| NOK = Norwegian kroner |
| NZD = New Zealand dollars |
| PHP = Philippine pesos |
| PIK = Payment In Kind |
| PLN = Polish zloty |
| PRIBOR = Prague Interbank Offered Rate |

---

---

| |
|:---|
| Ref. = Refunding |
| REIT = Real Estate Investment Trust |
| Rev. = Revenue |
| RON = Romanian leu |
| SEK = Swedish kronor |
| SGD = Singapore dollars |
| SOFR = Secured Overnight Financing Rate |
| SONIA = Sterling Overnight Interbank Average <br> Rate<br>|
| STIBOR = Stockholm Interbank Offered Rate |
| STR = Short-Term Rate |
| TBA = To be announced |
| THB = Thai baht |
| TRY = Turkish lira |
| USD = U.S. dollars |
| UST = U.S. Treasury |
| WIBOR = Warsaw Interbank Offered Rate |
| ZAR = South African rand |

---

American Funds Insurance Series — Page 244 of 319

------

**American High-Income Trust**<sup>®</sup>

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 87.64%<br> **Corporate bonds, notes & loans 87.54%**<br> **Communication services 14.53%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| CCO Holdings, LLC 5.50% 5/1/2026 <sup>(a)</sup>  | USD102 | $102 |
| CCO Holdings, LLC 5.00% 2/1/2028 <sup>(a)</sup>  | 1041 | 1032 |
| CCO Holdings, LLC 5.375% 6/1/2029 <sup>(a)</sup>  | 720 | 716 |
| CCO Holdings, LLC 6.375% 9/1/2029 <sup>(a)</sup>  | 445 | 451 |
| CCO Holdings, LLC 4.75% 3/1/2030 <sup>(a)</sup>  | 3281 | 3151 |
| CCO Holdings, LLC 4.50% 8/15/2030 <sup>(a)</sup>  | 2484 | 2348 |
| CCO Holdings, LLC 4.25% 2/1/2031 <sup>(a)</sup>  | 3164 | 2917 |
| CCO Holdings, LLC 7.375% 3/1/2031 <sup>(a)</sup>  | 70 | 72 |
| CCO Holdings, LLC 4.75% 2/1/2032 <sup>(a)</sup>  | 3163 | 2928 |
| CCO Holdings, LLC 4.50% 5/1/2032  | 2469 | 2248 |
| CCO Holdings, LLC 4.50% 6/1/2033 <sup>(a)</sup>  | 3357 | 2987 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(a)</sup>  | 4712 | 4077 |
| Charter Communications Operating, LLC 4.80% 3/1/2050  | 437 | 346 |
| Charter Communications Operating, LLC 3.70% 4/1/2051  | 473 | 312 |
| Charter Communications Operating, LLC 3.90% 6/1/2052  | 950 | 644 |
| Charter Communications Operating, LLC 5.25% 4/1/2053  | 577 | 482 |
| Charter Communications Operating, LLC 3.85% 4/1/2061  | 175 | 109 |
| Clear Channel Outdoor Holdings, Inc. 7.75% 4/15/2028 <sup>(a)</sup>  | 1010 | 1009 |
| Clear Channel Outdoor Holdings, Inc. 7.50% 6/1/2029 <sup>(a)</sup>  | 510 | 496 |
| Clear Channel Outdoor Holdings, Inc. 7.125% 2/15/2031 <sup>(a)</sup>  | 925 | 957 |
| Connect Finco SARL 9.00% 9/15/2029 <sup>(a)</sup>  | 7780 | 8190 |
| Connect Finco SARL, Term Loan B, (1-month USD CME Term SOFR + 4.50%) 8.663% 9/27/2029 <sup>(b)(c)</sup>  | 554 | 548 |
| Consolidated Communications, Inc. 5.00% 10/1/2028 <sup>(a)</sup>  | 65 | 66 |
| CSC Holdings, LLC 5.50% 4/15/2027 <sup>(a)</sup>  | 430 | 409 |
| CSC Holdings, LLC, Term Loan B, (USD Prime Rate + 1.50%) 9.00% 4/15/2027 <sup>(b)(c)</sup>  | 328 | 318 |
| CSC Holdings, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.50%) 8.65% 1/18/2028 <sup>(b)(c)</sup>  | 1693 | 1687 |
| Cumulus Media New Holdings, Inc. 8.00% 7/1/2029 <sup>(a)</sup>  | 285 | 74 |
| Diamond Sports Net, LLC, Term Loan, 15.00% PIK 1/2/2028 <sup>(b)(d)</sup>  | 41 | 36 |
| DIRECTV Financing, LLC 5.875% 8/15/2027 <sup>(a)</sup>  | 2109 | 2108 |
| DIRECTV Financing, LLC 8.875% 2/1/2030 <sup>(a)</sup>  | 2840 | 2809 |
| DIRECTV Financing, LLC, Term Loan, (3-month USD CME Term SOFR + 5.00%) 9.57% 8/2/2027 <sup>(b)(c)</sup>  | 73 | 73 |
| DISH Network Corp. 11.75% 11/15/2027 <sup>(a)</sup>  | 12748 | 13501 |
| EchoStar Corp. 10.75% 11/30/2029  | 6183 | 6807 |
| EchoStar Corp. 6.75% PIK 11/30/2030 <sup>(d)</sup>  | 5125 | 5288 |
| Embarq, LLC 7.995% 6/1/2036  | 4729 | 2367 |
| Frontier Communications Holdings, LLC 5.875% 10/15/2027 <sup>(a)</sup>  | 445 | 445 |
| Frontier Communications Holdings, LLC 6.75% 5/1/2029 <sup>(a)</sup>  | 3655 | 3695 |
| Frontier Communications Holdings, LLC 5.875% 11/1/2029  | 2625 | 2655 |
| Frontier Communications Holdings, LLC 6.00% 1/15/2030 <sup>(a)</sup>  | 3161 | 3201 |
| Frontier Communications Holdings, LLC 8.75% 5/15/2030 <sup>(a)</sup>  | 50 | 52 |
| Frontier Communications Holdings, LLC 8.625% 3/15/2031 <sup>(a)</sup>  | 225 | 237 |
| Gray Media, Inc. 10.50% 7/15/2029 <sup>(a)</sup>  | 3990 | 4318 |
| Gray Media, Inc. 4.75% 10/15/2030 <sup>(a)</sup>  | 791 | 608 |
| Gray Media, Inc. 5.375% 11/15/2031 <sup>(a)</sup>  | 2538 | 1908 |
| Gray Media, Inc. 9.625% 7/15/2032 <sup>(a)</sup>  | 1403 | 1435 |

---

American Funds Insurance Series — Page 245 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Communication services (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Gray Television, Inc., Term Loan D, (3-month USD CME Term SOFR + 3.00%) 7.395% 12/1/2028 <sup>(b)(c)</sup>  | USD2 | $2 |
| Gray Television, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.25%) 9.53% 6/4/2029 <sup>(b)(c)</sup>  | 23 | 23 |
| Lamar Media Corp. 4.00% 2/15/2030  | 260 | 249 |
| Lamar Media Corp. 3.625% 1/15/2031  | 360 | 335 |
| Lamar Media Corp. 5.375% 11/1/2033 <sup>(a)</sup>  | 450 | 447 |
| Ligado Networks, LLC, 17.50% PIK 11/1/2023 <sup>(a)(d)(e)</sup>  | 3031 | 1008 |
| Ligado Networks, LLC, Term Loan, 17.50% PIK 05/05/2028 <sup>(b)(d)(f)</sup>  | 926 | 926 |
| Lindblad Expeditions, LLC 7.00% 9/15/2030 <sup>(a)</sup>  | 883 | 901 |
| News Corp. 3.875% 5/15/2029 <sup>(a)</sup>  | 310 | 299 |
| Nexstar Media, Inc. 4.75% 11/1/2028 <sup>(a)</sup>  | 3780 | 3693 |
| Paramount Global 7.875% 7/30/2030  | 130 | 145 |
| Paramount Global 6.875% 4/30/2036  | 490 | 520 |
| Scripps Escrow II, Inc. 3.875% 1/15/2029 <sup>(a)</sup>  | 280 | 247 |
| Sinclair Television Group, Inc. 8.125% 2/15/2033 <sup>(a)</sup>  | 1120 | 1150 |
| Sirius XM Radio, LLC 3.125% 9/1/2026 <sup>(a)</sup>  | 1760 | 1737 |
| Sirius XM Radio, LLC 5.00% 8/1/2027 <sup>(a)</sup>  | 700 | 697 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(a)</sup>  | 3489 | 3374 |
| Sirius XM Radio, LLC 5.50% 7/1/2029 <sup>(a)</sup>  | 510 | 511 |
| Sirius XM Radio, LLC 4.125% 7/1/2030 <sup>(a)</sup>  | 3380 | 3172 |
| Sirius XM Radio, LLC 3.875% 9/1/2031 <sup>(a)</sup>  | 5756 | 5220 |
| Snap, Inc. 6.875% 3/1/2033 <sup>(a)</sup>  | 1540 | 1576 |
| Stagwell Global, LLC 5.625% 8/15/2029 <sup>(a)</sup>  | 1205 | 1172 |
| TEGNA, Inc. 5.00% 9/15/2029  | 1151 | 1146 |
| Univision Communications, Inc. 8.00% 8/15/2028 <sup>(a)</sup>  | 2180 | 2261 |
| Univision Communications, Inc. 4.50% 5/1/2029 <sup>(a)</sup>  | 4970 | 4692 |
| Univision Communications, Inc. 7.375% 6/30/2030 <sup>(a)</sup>  | 2552 | 2566 |
| Univision Communications, Inc. 8.50% 7/31/2031 <sup>(a)</sup>  | 995 | 1028 |
| Univision Communications, Inc. 9.375% 8/1/2032 <sup>(a)</sup>  | 3805 | 4058 |
| VMED O2 UK Financing I PLC 4.25% 1/31/2031 <sup>(a)</sup>  | 550 | 510 |
| WarnerMedia Holdings, Inc. 3.755% 3/15/2027  | 360 | 355 |
| WarnerMedia Holdings, Inc. 4.054% 3/15/2029  | 2756 | 2662 |
| WarnerMedia Holdings, Inc. 4.279% 3/15/2032  | 1345 | 1234 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042  | 7984 | 6379 |
| WarnerMedia Holdings, Inc. 5.141% 3/15/2052  | 434 | 324 |
| WMG Acquisition Corp. 3.75% 12/1/2029 <sup>(a)</sup>  | 1498 | 1430 |
| WMG Acquisition Corp. 3.875% 7/15/2030 <sup>(a)</sup>  | 957 | 908 |
| WMG Acquisition Corp. 3.00% 2/15/2031 <sup>(a)</sup>  | 225 | 209 |
| X Corp., Term Loan B3, 9.50% 10/26/2029 <sup>(b)</sup>  | 370 | 372 |
| X Corp., Term Loan B, (USD-SOFR + 6.50%) 10.958% 10/26/2029 <sup>(b)(c)</sup>  | 1460 | 1434 |
| Ziggo BV 4.875% 1/15/2030 <sup>(a)</sup>  | 215 | 203 |
|  |  | 149394 |
| **Energy 12.64%** |  |  |
| 3R Lux SARL 9.75% 2/5/2031 <sup>(a)</sup>  | 675 | 713 |
| Archrock Partners, LP 6.25% 4/1/2028 <sup>(a)</sup>  | 255 | 256 |
| Archrock Partners, LP 6.625% 9/1/2032 <sup>(a)</sup>  | 520 | 534 |
| Ascent Resources Utica Holdings, LLC 5.875% 6/30/2029 <sup>(a)</sup>  | 725 | 724 |
| Ascent Resources Utica Holdings, LLC 6.625% 10/15/2032 <sup>(a)</sup>  | 1175 | 1200 |
| Ascent Resources Utica Holdings, LLC 6.625% 7/15/2033 <sup>(a)</sup>  | 1150 | 1170 |
| Baytex Energy Corp. 8.50% 4/30/2030 <sup>(a)</sup>  | 645 | 664 |
| Baytex Energy Corp. 7.375% 3/15/2032 <sup>(a)</sup>  | 330 | 323 |
| BIP-V Chinook Holdco, LLC 5.50% 6/15/2031 <sup>(a)</sup>  | 1210 | 1200 |
| Blue Racer Midstream, LLC 7.00% 7/15/2029 <sup>(a)</sup>  | 125 | 130 |
| Blue Racer Midstream, LLC 7.25% 7/15/2032 <sup>(a)</sup>  | 40 | 42 |

---

American Funds Insurance Series — Page 246 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Energy (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Borr IHC, Ltd. 10.00% 11/15/2028 <sup>(a)</sup>  | USD2,097 | $2088 |
| Borr IHC, Ltd. 10.375% 11/15/2030 <sup>(a)</sup>  | 663 | 665 |
| California Resources Corp. 7.125% 2/1/2026 <sup>(a)</sup>  | 195 | 196 |
| California Resources Corp. 8.25% 6/15/2029 <sup>(a)</sup>  | 520 | 543 |
| Caturus Energy, LLC 8.50% 2/15/2030 <sup>(a)</sup>  | 1080 | 1125 |
| Chord Energy Corp. 6.75% 3/15/2033 <sup>(a)</sup>  | 990 | 1004 |
| CITGO Petroleum Corp. 8.375% 1/15/2029 <sup>(a)</sup>  | 1220 | 1271 |
| Civitas Resources, Inc. 5.00% 10/15/2026 <sup>(a)</sup>  | 585 | 583 |
| Civitas Resources, Inc. 8.375% 7/1/2028 <sup>(a)</sup>  | 740 | 768 |
| Civitas Resources, Inc. 8.625% 11/1/2030 <sup>(a)</sup>  | 730 | 757 |
| Civitas Resources, Inc. 8.75% 7/1/2031 <sup>(a)</sup>  | 2547 | 2613 |
| Civitas Resources, Inc. 9.625% 6/15/2033 <sup>(a)</sup>  | 290 | 306 |
| CNX Midstream Partners, LP 4.75% 4/15/2030 <sup>(a)</sup>  | 280 | 269 |
| CNX Resources Corp. 6.00% 1/15/2029 <sup>(a)</sup>  | 1754 | 1756 |
| CNX Resources Corp. 7.375% 1/15/2031 <sup>(a)</sup>  | 931 | 961 |
| CNX Resources Corp. 7.25% 3/1/2032 <sup>(a)</sup>  | 2160 | 2242 |
| Comstock Resources, Inc. 6.75% 3/1/2029 <sup>(a)</sup>  | 405 | 405 |
| Comstock Resources, Inc. 5.875% 1/15/2030 <sup>(a)</sup>  | 890 | 858 |
| Constellation Oil Services Holding SA 9.375% 11/7/2029 <sup>(a)</sup>  | 2150 | 2206 |
| Crescent Energy Finance, LLC 9.25% 2/15/2028 <sup>(a)</sup>  | 907 | 942 |
| Crescent Energy Finance, LLC 7.625% 4/1/2032 <sup>(a)</sup>  | 1635 | 1625 |
| Crescent Energy Finance, LLC 7.375% 1/15/2033 <sup>(a)</sup>  | 1490 | 1452 |
| Crescent Energy Finance, LLC 8.375% 1/15/2034 <sup>(a)</sup>  | 495 | 502 |
| Diamond Foreign Asset Co. 8.50% 10/1/2030 <sup>(a)</sup>  | 420 | 445 |
| DT Midstream, Inc. 4.125% 6/15/2029 <sup>(a)</sup>  | 1408 | 1374 |
| DT Midstream, Inc. 4.375% 6/15/2031 <sup>(a)</sup>  | 307 | 297 |
| Energean Israel Finance, Ltd. 5.375% 3/30/2028 <sup>(a)</sup>  | 730 | 718 |
| Energean Israel Finance, Ltd. 5.875% 3/30/2031 <sup>(a)</sup>  | 765 | 735 |
| Energy Transfer, LP 6.00% 2/1/2029 <sup>(a)</sup>  | 55 | 56 |
| EQT Corp. 6.375% 4/1/2029  | 185 | 192 |
| EQT Corp. 4.75% 1/15/2031  | 1350 | 1348 |
| EQT Corp. 3.625% 5/15/2031 <sup>(a)</sup>  | 290 | 271 |
| Expand Energy Corp. 6.75% 4/15/2029 <sup>(a)</sup>  | 280 | 283 |
| Expand Energy Corp. 5.375% 3/15/2030  | 780 | 793 |
| Expand Energy Corp. 4.75% 2/1/2032  | 290 | 285 |
| Expand Energy Corp. 4.875% 4/15/2032 <sup>(e)</sup>  | 4300 | 18 |
| Genesis Energy, LP 7.75% 2/1/2028  | 72 | 73 |
| Genesis Energy, LP 8.25% 1/15/2029  | 1545 | 1612 |
| Genesis Energy, LP 8.875% 4/15/2030  | 1225 | 1298 |
| Genesis Energy, LP 7.875% 5/15/2032  | 2785 | 2907 |
| Global Partners, LP 6.875% 1/15/2029  | 135 | 136 |
| Global Partners, LP 8.25% 1/15/2032 <sup>(a)</sup>  | 580 | 612 |
| Global Partners, LP 7.125% 7/1/2033 <sup>(a)</sup>  | 385 | 395 |
| Harbour Energy PLC 5.50% 10/15/2026 <sup>(a)</sup>  | 1065 | 1055 |
| Harvest Midstream I, LP 7.50% 9/1/2028 <sup>(a)</sup>  | 1432 | 1448 |
| Harvest Midstream I, LP 7.50% 5/15/2032 <sup>(a)</sup>  | 860 | 881 |
| Hess Midstream Operations, LP 5.875% 3/1/2028 <sup>(a)</sup>  | 775 | 790 |
| Hess Midstream Operations, LP 5.125% 6/15/2028 <sup>(a)</sup>  | 361 | 361 |
| Hess Midstream Operations, LP 6.50% 6/1/2029 <sup>(a)</sup>  | 695 | 717 |
| Hess Midstream Operations, LP 4.25% 2/15/2030 <sup>(a)</sup>  | 1430 | 1387 |
| Hess Midstream Operations, LP 5.50% 10/15/2030 <sup>(a)</sup>  | 490 | 494 |
| Hilcorp Energy I, LP 5.75% 2/1/2029 <sup>(a)</sup>  | 805 | 794 |
| Hilcorp Energy I, LP 6.00% 4/15/2030 <sup>(a)</sup>  | 837 | 826 |
| Hilcorp Energy I, LP 6.00% 2/1/2031 <sup>(a)</sup>  | 783 | 757 |

---

American Funds Insurance Series — Page 247 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Energy (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Hilcorp Energy I, LP 6.25% 4/15/2032 <sup>(a)</sup>  | USD605 | $581 |
| Hilcorp Energy I, LP 8.375% 11/1/2033 <sup>(a)</sup>  | 1258 | 1322 |
| Kodiak Gas Services, LLC 7.25% 2/15/2029 <sup>(a)</sup>  | 350 | 363 |
| Kodiak Gas Services, LLC 6.50% 10/1/2033 <sup>(a)</sup>  | 200 | 204 |
| Kodiak Gas Services, LLC 6.75% 10/1/2035 <sup>(a)</sup>  | 200 | 205 |
| Matador Resources Co. 6.875% 4/15/2028 <sup>(a)</sup>  | 275 | 281 |
| Matador Resources Co. 6.50% 4/15/2032 <sup>(a)</sup>  | 720 | 727 |
| Matador Resources Co. 6.25% 4/15/2033 <sup>(a)</sup>  | 1245 | 1254 |
| Mesquite Energy, Inc. 7.25% 2/15/2026 <sup>(a)(e)</sup>  | 739 | 2 |
| Murphy Oil Corp. 6.375% 7/15/2028  | 243 | 244 |
| Murphy Oil Corp. 6.00% 10/1/2032  | 410 | 405 |
| Murphy Oil USA, Inc. 3.75% 2/15/2031 <sup>(a)</sup>  | 820 | 764 |
| Nabors Industries, Inc. 7.375% 5/15/2027 <sup>(a)</sup>  | 259 | 263 |
| Nabors Industries, Inc. 9.125% 1/31/2030 <sup>(a)</sup>  | 1100 | 1145 |
| Nabors Industries, Inc. 8.875% 8/15/2031 <sup>(a)</sup>  | 445 | 415 |
| Nabors Industries, Ltd. 7.50% 1/15/2028 <sup>(a)</sup>  | 75 | 75 |
| New Fortress Energy, Inc. 6.50% 9/30/2026 <sup>(a)</sup>  | 745 | 188 |
| New Fortress Energy, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.50%) 9.57% 10/30/2028 <sup>(b)(c)</sup>  | 266 | 131 |
| NFE Financing, LLC 12.00% 11/15/2029 <sup>(a)</sup>  | 18263 | 5387 |
| NGL Energy Operating, LLC 8.125% 2/15/2029 <sup>(a)</sup>  | 105 | 108 |
| NGL Energy Operating, LLC 8.375% 2/15/2032 <sup>(a)</sup>  | 490 | 502 |
| Noble Finance II, LLC 8.00% 4/15/2030 <sup>(a)</sup>  | 1695 | 1756 |
| Northern Oil and Gas, Inc. 8.75% 6/15/2031 <sup>(a)</sup>  | 360 | 372 |
| Northern Oil and Gas, Inc. 7.875% 10/15/2033 <sup>(a)</sup>  | 665 | 663 |
| NuStar Logistics, LP 6.00% 6/1/2026  | 286 | 288 |
| Occidental Petroleum Corp. 6.60% 3/15/2046  | 582 | 609 |
| Occidental Petroleum Corp. 6.05% 10/1/2054  | 1200 | 1172 |
| Parkland Corp. 5.875% 7/15/2027 <sup>(a)</sup>  | 535 | 536 |
| Parkland Corp. 4.625% 5/1/2030 <sup>(a)</sup>  | 440 | 428 |
| Parkland Corp. 6.625% 8/15/2032 <sup>(a)</sup>  | 70 | 72 |
| Permian Resources Operating, LLC 8.00% 4/15/2027 <sup>(a)</sup>  | 58 | 59 |
| Permian Resources Operating, LLC 7.00% 1/15/2032 <sup>(a)</sup>  | 955 | 991 |
| Permian Resources Operating, LLC 6.25% 2/1/2033 <sup>(a)</sup>  | 1490 | 1519 |
| Petrobras Global Finance BV 5.125% 9/10/2030  | 1070 | 1059 |
| Petroleos Mexicanos 6.875% 10/16/2025  | 350 | 350 |
| Petroleos Mexicanos 4.50% 1/23/2026  | 445 | 443 |
| Petroleos Mexicanos 6.875% 8/4/2026  | 85 | 86 |
| Petroleos Mexicanos 5.35% 2/12/2028  | 1025 | 1021 |
| Petroleos Mexicanos 8.75% 6/2/2029  | 880 | 948 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 510 | 519 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 1010 | 979 |
| Petroleos Mexicanos 7.69% 1/23/2050  | 185 | 168 |
| Petroleos Mexicanos 6.95% 1/28/2060  | 320 | 263 |
| Range Resources Corp. 8.25% 1/15/2029  | 500 | 512 |
| Range Resources Corp. 4.75% 2/15/2030 <sup>(a)</sup>  | 285 | 279 |
| Seadrill Finance, Ltd. 8.375% 8/1/2030 <sup>(a)</sup>  | 200 | 208 |
| Suburban Propane Partners, LP 5.00% 6/1/2031 <sup>(a)</sup>  | 335 | 319 |
| Summit Midstream Holdings, LLC 8.625% 10/31/2029 <sup>(a)</sup>  | 1785 | 1795 |
| Sunoco, LP 6.00% 4/15/2027  | 547 | 547 |
| Sunoco, LP 5.875% 3/15/2028  | 290 | 291 |
| Sunoco, LP 7.00% 5/1/2029 <sup>(a)</sup>  | 300 | 311 |
| Sunoco, LP 4.50% 5/15/2029  | 1970 | 1923 |
| Sunoco, LP 4.50% 4/30/2030  | 1880 | 1812 |
| Sunoco, LP 5.625% 3/15/2031 <sup>(a)</sup>  | 740 | 735 |

---

American Funds Insurance Series — Page 248 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Energy (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Sunoco, LP 7.25% 5/1/2032 <sup>(a)</sup>  | USD1,335 | $1402 |
| Sunoco, LP 6.25% 7/1/2033 <sup>(a)</sup>  | 810 | 825 |
| Sunoco, LP 5.875% 3/15/2034 <sup>(a)</sup>  | 810 | 803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sunoco, LP 7.875% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity <br> + 4.23% on 9/18/2030) <sup>(a)(g)</sup>  | 1775 | 1804 |
| Talos Production, Inc. 9.00% 2/1/2029 <sup>(a)</sup>  | 985 | 1019 |
| Talos Production, Inc. 9.375% 2/1/2031 <sup>(a)</sup>  | 1290 | 1345 |
| Targa Resources Partners, LP 5.50% 3/1/2030  | 327 | 333 |
| Targa Resources Partners, LP 4.875% 2/1/2031  | 180 | 181 |
| TGS ASA 8.50% 1/15/2030 <sup>(a)</sup>  | 710 | 732 |
| Tidewater, Inc. 9.125% 7/15/2030 <sup>(a)</sup>  | 265 | 284 |
| Transocean Aquila, Ltd. 8.00% 9/30/2028 <sup>(a)</sup>  | 387 | 398 |
| Transocean International, Ltd. 7.875% 10/15/2032 <sup>(a)</sup>  | 290 | 294 |
| Transocean Poseidon, Ltd. 6.875% 2/1/2027 <sup>(a)</sup>  | 316 | 317 |
| Transocean Titan Financing, Ltd. 8.375% 2/1/2028 <sup>(a)</sup>  | 961 | 987 |
| Transocean, Inc. 8.00% 2/1/2027 <sup>(a)</sup>  | 495 | 495 |
| Transocean, Inc. 8.75% 2/15/2030 <sup>(a)</sup>  | 374 | 394 |
| Transocean, Inc. 8.50% 5/15/2031 <sup>(a)</sup>  | 665 | 652 |
| Transocean, Inc. 6.80% 3/15/2038  | 425 | 360 |
| USA Compression Partners, LP 6.875% 9/1/2027  | 332 | 332 |
| USA Compression Partners, LP 7.125% 3/15/2029 <sup>(a)</sup>  | 430 | 444 |
| USA Compression Partners, LP 6.25% 10/1/2033 <sup>(a)</sup>  | 1045 | 1050 |
| Venture Global Calcasieu Pass, LLC 3.875% 8/15/2029 <sup>(a)</sup>  | 1410 | 1352 |
| Venture Global Calcasieu Pass, LLC 6.25% 1/15/2030 <sup>(a)</sup>  | 195 | 203 |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031 <sup>(a)</sup>  | 2135 | 2017 |
| Venture Global Calcasieu Pass, LLC 3.875% 11/1/2033 <sup>(a)</sup>  | 1260 | 1136 |
| Venture Global LNG, Inc. 8.125% 6/1/2028 <sup>(a)</sup>  | 915 | 948 |
| Venture Global LNG, Inc. 9.50% 2/1/2029 <sup>(a)</sup>  | 405 | 447 |
| Venture Global LNG, Inc. 7.00% 1/15/2030 <sup>(a)</sup>  | 1025 | 1061 |
| Venture Global LNG, Inc. 8.375% 6/1/2031 <sup>(a)</sup>  | 1500 | 1576 |
| Venture Global LNG, Inc. 9.875% 2/1/2032 <sup>(a)</sup>  | 885 | 964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venture Global LNG, Inc. 9.00% junior subordinated perpetual preferred bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 5.44% on 9/30/2029) <sup>(a)(g)</sup>  | 413 | 410 |
| Venture Global Plaquemines LNG, LLC 7.50% 5/1/2033 <sup>(a)</sup>  | 1330 | 1470 |
| Venture Global Plaquemines LNG, LLC 6.50% 1/15/2034 <sup>(a)</sup>  | 1690 | 1780 |
| Venture Global Plaquemines LNG, LLC 7.75% 5/1/2035 <sup>(a)</sup>  | 970 | 1095 |
| Venture Global Plaquemines LNG, LLC 6.75% 1/15/2036 <sup>(a)</sup>  | 1470 | 1562 |
| Vital Energy, Inc. 7.875% 4/15/2032 <sup>(a)</sup>  | 700 | 680 |
| Weatherford International, Ltd. 8.625% 4/30/2030 <sup>(a)</sup>  | 3751 | 3837 |
| Weatherford International, Ltd. 6.75% 10/15/2033 <sup>(a)</sup>  | 1030 | 1031 |
| Western Midstream Operating, LP 4.50% 3/1/2028  | 239 | 239 |
| Western Midstream Operating, LP 5.25% 2/1/2050  | 300 | 261 |
| Wildfire Intermediate Holdings, LLC 7.50% 10/15/2029 <sup>(a)</sup>  | 395 | 400 |
|  |  | 129970 |
| **Consumer discretionary 10.19%** |  |  |
| Advance Auto Parts, Inc. 5.95% 3/9/2028  | 853 | 873 |
| Advance Auto Parts, Inc. 3.90% 4/15/2030  | 920 | 855 |
| Advance Auto Parts, Inc. 3.50% 3/15/2032  | 1039 | 909 |
| Advance Auto Parts, Inc. 7.375% 8/1/2033 <sup>(a)</sup>  | 305 | 315 |
| Aimbridge Acquisition Co., Inc., Term Loan, (1-month USD CME Term SOFR + 5.614%) 9.765% 3/11/2030 <sup>(b)(c)(f)</sup>  | 556 | 556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aimbridge Acquisition Co., Inc., Term Loan, (1-month USD CME Term SOFR + 7.614%) 6.00% PIK and 5.98% <br> Cash 3/11/2030 <sup>(b)(c)(d)(f)</sup>  | 517 | 517 |
| Allied Universal Holdco, LLC 4.625% 6/1/2028 <sup>(a)</sup>  | 555 | 544 |

---

American Funds Insurance Series — Page 249 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Consumer discretionary (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Allied Universal Holdco, LLC 6.00% 6/1/2029 <sup>(a)</sup>  | USD1,245 | $1225 |
| Allied Universal Holdco, LLC 6.875% 6/15/2030 <sup>(a)</sup>  | 1375 | 1414 |
| Allied Universal Holdco, LLC 7.875% 2/15/2031 <sup>(a)</sup>  | 305 | 320 |
| Asbury Automotive Group, Inc. 4.625% 11/15/2029 <sup>(a)</sup>  | 1275 | 1238 |
| Asbury Automotive Group, Inc. 5.00% 2/15/2032 <sup>(a)</sup>  | 600 | 577 |
| Bath & Body Works, Inc. 6.875% 11/1/2035  | 1581 | 1647 |
| Bath & Body Works, Inc. 6.75% 7/1/2036  | 910 | 938 |
| Beach Acquisition Bidco, LLC 10.75% PIK or 10.00% Cash 7/15/2033 <sup>(a)(d)</sup>  | 605 | 654 |
| Belron Finance 2019, LLC 6.742% 10/16/2031 <sup>(b)(c)</sup>  | 589 | 593 |
| Boyd Gaming Corp. 4.75% 6/15/2031 <sup>(a)</sup>  | 1210 | 1167 |
| Caesars Entertainment, Inc. 4.625% 10/15/2029 <sup>(a)</sup>  | 1394 | 1334 |
| Caesars Entertainment, Inc. 7.00% 2/15/2030 <sup>(a)</sup>  | 1870 | 1925 |
| Caesars Entertainment, Inc. 6.50% 2/15/2032 <sup>(a)</sup>  | 1025 | 1046 |
| Carnival Corp. 4.00% 8/1/2028 <sup>(a)</sup>  | 1450 | 1430 |
| Carnival Corp. 5.125% 5/1/2029 <sup>(a)</sup>  | 870 | 870 |
| Carnival Corp. 7.00% 8/15/2029 <sup>(a)</sup>  | 135 | 142 |
| Carnival Corp. 5.75% 8/1/2032 <sup>(a)</sup>  | 2804 | 2857 |
| Carnival Corp. 6.125% 2/15/2033 <sup>(a)</sup>  | 3765 | 3862 |
| Cougar JV Subsidiary, LLC 8.00% 5/15/2032 <sup>(a)</sup>  | 575 | 612 |
| Fertitta Entertainment, LLC 4.625% 1/15/2029 <sup>(a)</sup>  | 1250 | 1191 |
| Fertitta Entertainment, LLC 6.75% 1/15/2030 <sup>(a)</sup>  | 1760 | 1653 |
| First Student Bidco, Inc. 4.00% 7/31/2029 <sup>(a)</sup>  | 1295 | 1233 |
| First Student Bidco, Inc., Term Loan B, (3-month USD CME Term SOFR + 2.50%) 6.711% 8/15/2030 <sup>(b)(c)</sup>  | 334 | 334 |
| First Student Bidco, Inc., Term Loan C, (3-month USD CME Term SOFR + 2.50%) 6.711% 8/15/2030 <sup>(b)(c)</sup>  | 102 | 102 |
| Flutter Treasury DAC 6.125% 6/4/2031  | GBP320 | 435 |
| Ford Motor Co. 3.25% 2/12/2032  | USD2,790 | 2442 |
| Ford Motor Credit Co., LLC 4.271% 1/9/2027  | 495 | 491 |
| Ford Motor Credit Co., LLC 3.815% 11/2/2027  | 115 | 112 |
| Ford Motor Credit Co., LLC 5.918% 3/20/2028  | 200 | 203 |
| Ford Motor Credit Co., LLC 6.798% 11/7/2028  | 335 | 350 |
| Ford Motor Credit Co., LLC 5.113% 5/3/2029  | 360 | 357 |
| Ford Motor Credit Co., LLC 5.875% 11/7/2029  | 225 | 229 |
| Ford Motor Credit Co., LLC 7.20% 6/10/2030  | 370 | 396 |
| Ford Motor Credit Co., LLC 5.73% 9/5/2030  | 2063 | 2081 |
| Ford Motor Credit Co., LLC 4.00% 11/13/2030  | 550 | 513 |
| Ford Motor Credit Co., LLC 6.05% 3/5/2031  | 570 | 583 |
| Ford Motor Credit Co., LLC 3.625% 6/17/2031  | 440 | 400 |
| Ford Motor Credit Co., LLC 6.532% 3/19/2032  | 1985 | 2066 |
| Ford Motor Credit Co., LLC 7.122% 11/7/2033  | 405 | 433 |
| Ford Motor Credit Co., LLC 6.125% 3/8/2034  | 1260 | 1267 |
| Ford Motor Credit Co., LLC 6.50% 2/7/2035  | 2355 | 2421 |
| Gap, Inc. 3.625% 10/1/2029 <sup>(a)</sup>  | 170 | 159 |
| Gap, Inc. 3.875% 10/1/2031 <sup>(a)</sup>  | 108 | 99 |
| General Motors Financial Co., Inc. 5.90% 1/7/2035  | 530 | 547 |
| Genting New York, LLC 7.25% 10/1/2029 <sup>(a)</sup>  | 1440 | 1488 |
| Great Canadian Gaming Corp. 8.75% 11/15/2029 <sup>(a)</sup>  | 1790 | 1771 |
| Hanesbrands, Inc., Term Loan B, (3-month USD CME Term SOFR + 2.75%) 6.913% 3/7/2032 <sup>(b)(c)</sup>  | 1120 | 1127 |
| Hertz Corp. (The), Term Loan B-EXIT, (3-month USD CME Term SOFR + 3.50%) 8.07% 6/30/2028 <sup>(b)(c)</sup>  | 71 | 64 |
| Hertz Corp. (The), Term Loan C-EXIT, (3-month USD CME Term SOFR + 3.50%) 8.07% 6/30/2028 <sup>(b)(c)</sup>  | 15 | 14 |
| Hilton Domestic Operating Co., Inc. 4.00% 5/1/2031 <sup>(a)</sup>  | 1045 | 990 |
| Hilton Domestic Operating Co., Inc. 5.75% 9/15/2033 <sup>(a)</sup>  | 655 | 664 |
| Hilton Grand Vacations Borrower, LLC 5.00% 6/1/2029 <sup>(a)</sup>  | 591 | 569 |
| Hyatt Hotels Corp. 5.75% 3/30/2032  | 269 | 281 |
| Hyundai Capital America 1.65% 9/17/2026 <sup>(a)</sup>  | 70 | 68 |

---

American Funds Insurance Series — Page 250 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Consumer discretionary (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| International Game Technology PLC 5.25% 1/15/2029 <sup>(a)</sup>  | USD1,065 | $1061 |
| KB Home 6.875% 6/15/2027  | 220 | 225 |
| KB Home 7.25% 7/15/2030  | 330 | 341 |
| Kohl's Corp. 5.125% 5/1/2031  | 90 | 72 |
| Kontoor Brands, Inc. 4.125% 11/15/2029 <sup>(a)</sup>  | 370 | 351 |
| Las Vegas Sands Corp. 6.20% 8/15/2034  | 25 | 26 |
| LCM Investments Holdings II, LLC 4.875% 5/1/2029 <sup>(a)</sup>  | 3405 | 3339 |
| LCM Investments Holdings II, LLC 8.25% 8/1/2031 <sup>(a)</sup>  | 1365 | 1445 |
| Levi Strauss & Co. 3.50% 3/1/2031 <sup>(a)</sup>  | 1200 | 1116 |
| Light and Wonder International, Inc. 6.25% 10/1/2033 <sup>(a)</sup>  | 395 | 396 |
| Lithia Motors, Inc. 3.875% 6/1/2029 <sup>(a)</sup>  | 1090 | 1042 |
| Lithia Motors, Inc. 5.50% 10/1/2030 <sup>(a)</sup>  | 625 | 625 |
| Lithia Motors, Inc. 4.375% 1/15/2031 <sup>(a)</sup>  | 700 | 665 |
| M.D.C. Holdings, Inc. 6.00% 1/15/2043  | 803 | 765 |
| Marriott Ownership Resorts, Inc. 4.50% 6/15/2029 <sup>(a)</sup>  | 555 | 536 |
| Mercury Aggregator, LP, Term Loan, 19.00% 2/3/2026 <sup>(b)(f)</sup>  | 166 | 63 |
| Mercury Aggregator, LP, Term Loan 2, 19.00% 2/3/2026 <sup>(b)(f)</sup>  | 95 | 36 |
| MGM Resorts International 5.50% 4/15/2027  | 200 | 201 |
| Newell Brands, Inc. 8.50% 6/1/2028 <sup>(a)</sup>  | 580 | 615 |
| Newell Brands, Inc. 6.625% 9/15/2029  | 435 | 438 |
| Newell Brands, Inc. 6.375% 5/15/2030  | 935 | 929 |
| Newell Brands, Inc. 6.625% 5/15/2032  | 1270 | 1257 |
| Newell Brands, Inc. 7.375% 4/1/2036  | 535 | 533 |
| Newell Brands, Inc. 7.00% 4/1/2046  | 285 | 252 |
| Nissan Motor Acceptance Co., LLC 5.30% 9/13/2027 <sup>(a)</sup>  | 400 | 400 |
| Nissan Motor Acceptance Co., LLC 6.125% 9/30/2030 <sup>(a)</sup>  | 560 | 561 |
| Nissan Motor Acceptance Corp. 1.85% 9/16/2026 <sup>(a)</sup>  | 350 | 338 |
| Nissan Motor Co., Ltd. 4.345% 9/17/2027 <sup>(a)</sup>  | 355 | 349 |
| Nissan Motor Co., Ltd. 7.50% 7/17/2030 <sup>(a)</sup>  | 1695 | 1780 |
| Nissan Motor Co., Ltd. 7.75% 7/17/2032 <sup>(a)</sup>  | 1665 | 1763 |
| Nissan Motor Co., Ltd. 8.125% 7/17/2035 <sup>(a)</sup>  | 3670 | 3942 |
| Party City Holdings, Inc. 0% 10/12/2028 <sup>(f)</sup>  | 500 | — <br><sup>(h)</sup><br>|
| Party City Holdings, Inc. 0% 8/27/2030 <sup>(f)</sup>  | 2510 | 50 |
| PENN Entertainment, Inc. 4.125% 7/1/2029 <sup>(a)</sup>  | 15 | 14 |
| Petco Health and Wellness Co., Inc., Term Loan B, (3-month USD CME Term SOFR + 3.25%) 7.513% 3/3/2028 <sup>(b)(c)</sup>  | 225 | 220 |
| RHP Hotel Properties, LP 7.25% 7/15/2028 <sup>(a)</sup>  | 492 | 508 |
| RHP Hotel Properties, LP 4.50% 2/15/2029 <sup>(a)</sup>  | 660 | 648 |
| RHP Hotel Properties, LP 6.50% 6/15/2033 <sup>(a)</sup>  | 585 | 603 |
| Royal Caribbean Cruises, Ltd. 5.375% 1/15/2036  | 112 | 113 |
| Sally Holdings, LLC 6.75% 3/1/2032  | 2887 | 3005 |
| Scientific Games Holdings, LP, Term Loan, (3-month USD CME Term SOFR + 3.00%) 7.286% 4/4/2029 <sup>(b)(c)</sup>  | 1619 | 1608 |
| Service Corp. International 3.375% 8/15/2030  | 190 | 176 |
| Service Corp. International 4.00% 5/15/2031  | 515 | 486 |
| Somnigroup International, Inc. 4.00% 4/15/2029 <sup>(a)</sup>  | 95 | 91 |
| Sonic Automotive, Inc. 4.625% 11/15/2029 <sup>(a)</sup>  | 2181 | 2120 |
| Sonic Automotive, Inc. 4.875% 11/15/2031 <sup>(a)</sup>  | 2669 | 2554 |
| Station Casinos, LLC 6.625% 3/15/2032 <sup>(a)</sup>  | 320 | 329 |
| TopBuild Corp. 5.625% 1/31/2034 <sup>(a)</sup>  | 885 | 882 |
| Travel + Leisure Co. 4.50% 12/1/2029 <sup>(a)</sup>  | 995 | 962 |
| Travel + Leisure Co. 4.625% 3/1/2030 <sup>(a)</sup>  | 200 | 193 |
| Universal Entertainment Corp. 9.875% 8/1/2029 <sup>(a)</sup>  | 2720 | 2703 |
| Vail Resorts, Inc. 5.625% 7/15/2030 <sup>(a)</sup>  | 315 | 317 |
| Vail Resorts, Inc. 6.50% 5/15/2032 <sup>(a)</sup>  | 820 | 848 |
| Valvoline, Inc. 3.625% 6/15/2031 <sup>(a)</sup>  | 630 | 578 |

---

American Funds Insurance Series — Page 251 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Consumer discretionary (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Voyager Parent, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.75%) 8.752% 7/1/2032 <sup>(b)(c)</sup>  | USD750 | $752 |
| Wand NewCo 3, Inc. 7.625% 1/30/2032 <sup>(a)</sup>  | 10 | 11 |
| Wyndham Hotels & Resorts, Inc. 4.375% 8/15/2028 <sup>(a)</sup>  | 555 | 542 |
| Wynn Resorts Finance, LLC 5.125% 10/1/2029 <sup>(a)</sup>  | 832 | 836 |
| Wynn Resorts Finance, LLC 7.125% 2/15/2031 <sup>(a)</sup>  | 487 | 525 |
| Wynn Resorts Finance, LLC 6.25% 3/15/2033 <sup>(a)</sup>  | 1300 | 1321 |
| ZF North America Capital, Inc. 7.50% 3/24/2031 <sup>(a)</sup>  | 700 | 696 |
|  |  | 104706 |
| **Financials 9.24%** |  |  |
| AG Issuer, LLC 6.25% 3/1/2028 <sup>(a)</sup>  | 751 | 753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alera Group Intermediate Holdings, Inc., Term Loan B, (1-month USD CME Term SOFR + 3.25%) 7.413% <br> 5/30/2032 <sup>(b)(c)</sup>  | 615 | 618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alera Group Intermediate Holdings, Inc., Term Loan, (3-month USD CME Term SOFR + 5.50%) 9.663% <br>5/30/2033 <sup>(b)(c)</sup>  | 1265 | 1304 |
| Alliant Holdings Intermediate, LLC 4.25% 10/15/2027 <sup>(a)</sup>  | 555 | 546 |
| Alliant Holdings Intermediate, LLC 6.75% 4/15/2028 <sup>(a)</sup>  | 305 | 311 |
| Alliant Holdings Intermediate, LLC 5.875% 11/1/2029 <sup>(a)</sup>  | 1745 | 1743 |
| Alliant Holdings Intermediate, LLC 7.00% 1/15/2031 <sup>(a)</sup>  | 660 | 682 |
| Alliant Holdings Intermediate, LLC 6.50% 10/1/2031 <sup>(a)</sup>  | 1045 | 1070 |
| Alliant Holdings Intermediate, LLC 7.375% 10/1/2032 <sup>(a)</sup>  | 3585 | 3698 |
| AmWINS Group, Inc. 4.875% 6/30/2029 <sup>(a)</sup>  | 1650 | 1605 |
| Ardonagh Finco, Ltd. 7.75% 2/15/2031 <sup>(a)</sup>  | 1095 | 1147 |
| Ardonagh Group Finance, Ltd. 8.875% 2/15/2032 <sup>(a)</sup>  | 2015 | 2120 |
| Aretec Group, Inc. 7.50% 4/1/2029 <sup>(a)</sup>  | 3193 | 3211 |
| Aretec Group, Inc. 10.00% 8/15/2030 <sup>(a)</sup>  | 755 | 823 |
| Blackstone Private Credit Fund 6.00% 11/22/2034  | 795 | 815 |
| Block, Inc. 2.75% 6/1/2026  | 510 | 504 |
| Block, Inc. 5.625% 8/15/2030 <sup>(a)</sup>  | 1145 | 1161 |
| Block, Inc. 3.50% 6/1/2031  | 1660 | 1546 |
| Block, Inc. 6.50% 5/15/2032  | 920 | 953 |
| Block, Inc. 6.00% 8/15/2033 <sup>(a)</sup>  | 565 | 579 |
| Blue Owl Credit Income Corp. 6.65% 3/15/2031  | 380 | 399 |
| Coinbase Global, Inc. 3.375% 10/1/2028 <sup>(a)</sup>  | 3711 | 3525 |
| Coinbase Global, Inc. 3.625% 10/1/2031 <sup>(a)</sup>  | 2829 | 2527 |
| Compass Group Diversified Holdings, LLC 5.25% 4/15/2029 <sup>(a)</sup>  | 3725 | 3444 |
| Compass Group Diversified Holdings, LLC 5.00% 1/15/2032 <sup>(a)</sup>  | 722 | 648 |
| Denali Intermediate Holdings, Inc., Term Loan, (1-month CME Term SOFR + 5.50%) 9.666% 8/26/2032 <sup>(b)(c)(f)</sup>  | 940 | 940 |
| FS KKR Capital Corp. 6.125% 1/15/2031  | 540 | 535 |
| Hightower Holding, LLC 6.75% 4/15/2029 <sup>(a)</sup>  | 1140 | 1126 |
| Hightower Holding, LLC 9.125% 1/31/2030 <sup>(a)</sup>  | 195 | 208 |
| Howden UK Refinance PLC 7.25% 2/15/2031 <sup>(a)</sup>  | 1100 | 1133 |
| HUB International, Ltd. 7.25% 6/15/2030 <sup>(a)</sup>  | 857 | 894 |
| HUB International, Ltd. 7.375% 1/31/2032 <sup>(a)</sup>  | 1265 | 1318 |
| HUB International, Ltd., Term Loan, (3-month USD CME Term SOFR + 2.50%) 6.825% 6/20/2030 <sup>(b)(c)</sup>  | 145 | 146 |
| I-20 Lancaster Fund, LLC 12.00% 1/15/2035 <sup>(a)</sup>  | 546 | 532 |
| ION Platform Finance US, Inc. 7.875% 9/30/2032 <sup>(a)</sup>  | 2515 | 2498 |
| Iron Mountain Information Management Services, Inc. 5.00% 7/15/2032 <sup>(a)</sup>  | 1520 | 1466 |
| Jane Street Group, LLC 7.125% 4/30/2031 <sup>(a)</sup>  | 136 | 143 |
| Jane Street Group, LLC 6.75% 5/1/2033 <sup>(a)</sup>  | 955 | 993 |
| Jefferson Capital Holdings, LLC 8.25% 5/15/2030 <sup>(a)</sup>  | 510 | 534 |
| JPMorgan Chase & Co. 2.956% 5/13/2031 (USD-SOFR + 2.515% on 5/13/2030) <sup>(g)</sup>  | 160 | 150 |
| LPL Holdings, Inc. 4.375% 5/15/2031 <sup>(a)</sup>  | 715 | 692 |
| MSCI, Inc. 3.875% 2/15/2031 <sup>(a)</sup>  | 510 | 489 |

---

American Funds Insurance Series — Page 252 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Financials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| MSCI, Inc. 3.625% 11/1/2031 <sup>(a)</sup>  | USD256 | $240 |
| Nationstar Mortgage Holdings, Inc. 7.125% 2/1/2032 <sup>(a)</sup>  | 380 | 398 |
| Navient Corp. 6.75% 6/15/2026  | 510 | 516 |
| Navient Corp. 5.00% 3/15/2027  | 2253 | 2245 |
| Navient Corp. 4.875% 3/15/2028  | 550 | 540 |
| Navient Corp. 5.50% 3/15/2029  | 4240 | 4160 |
| Navient Corp. 9.375% 7/25/2030  | 1907 | 2109 |
| Navient Corp. 11.50% 3/15/2031  | 880 | 993 |
| Navient Corp. 7.875% 6/15/2032  | 1725 | 1817 |
| Navient Corp. 5.625% 8/1/2033  | 2463 | 2249 |
| OneMain Finance Corp. 3.875% 9/15/2028  | 165 | 159 |
| OneMain Finance Corp. 6.625% 5/15/2029  | 1055 | 1086 |
| OneMain Finance Corp. 5.375% 11/15/2029  | 1155 | 1143 |
| OneMain Finance Corp. 7.875% 3/15/2030  | 915 | 969 |
| OneMain Finance Corp. 6.125% 5/15/2030  | 1885 | 1910 |
| OneMain Finance Corp. 4.00% 9/15/2030  | 245 | 228 |
| OneMain Finance Corp. 7.50% 5/15/2031  | 125 | 131 |
| OneMain Finance Corp. 7.125% 11/15/2031  | 1335 | 1385 |
| OneMain Finance Corp. 7.125% 9/15/2032  | 1975 | 2043 |
| OneMain Finance Corp. 6.50% 3/15/2033  | 1055 | 1058 |
| Osaic Holdings, Inc. 6.75% 8/1/2032 <sup>(a)</sup>  | 765 | 791 |
| Osaic Holdings, Inc. 8.00% 8/1/2033 <sup>(a)</sup>  | 1575 | 1634 |
| Osaic Holdings, Inc., Term Loan, (3-month USD CME Term SOFR + 3.00%) 7.163% 7/30/2032 <sup>(b)(c)</sup>  | 700 | 700 |
| Oxford Finance, LLC 6.375% 2/1/2027 <sup>(a)</sup>  | 1488 | 1489 |
| Panther Escrow Issuer, LLC 7.125% 6/1/2031 <sup>(a)</sup>  | 845 | 879 |
| PennyMac Financial Services, Inc. 6.875% 5/15/2032 <sup>(a)</sup>  | 440 | 456 |
| PennyMac Financial Services, Inc. 6.875% 2/15/2033 <sup>(a)</sup>  | 520 | 538 |
| Planet Financial Group, LLC 10.50% 12/15/2029 <sup>(a)</sup>  | 150 | 158 |
| Rocket Mortgage, LLC 2.875% 10/15/2026 <sup>(a)</sup>  | 520 | 510 |
| Ryan Specialty, LLC 4.375% 2/1/2030 <sup>(a)</sup>  | 720 | 698 |
| Ryan Specialty, LLC 5.875% 8/1/2032 <sup>(a)</sup>  | 805 | 815 |
| SLM Corp. 6.50% 1/31/2030  | 680 | 709 |
| Starwood Property Trust, Inc. 4.375% 1/15/2027 <sup>(a)</sup>  | 655 | 650 |
| Starwood Property Trust, Inc. 5.25% 10/15/2028 <sup>(a)</sup>  | 1015 | 1016 |
| Starwood Property Trust, Inc. 7.25% 4/1/2029 <sup>(a)</sup>  | 600 | 631 |
| Starwood Property Trust, Inc. 6.50% 7/1/2030 <sup>(a)</sup>  | 410 | 424 |
| Starwood Property Trust, Inc. 6.50% 10/15/2030 <sup>(a)</sup>  | 385 | 399 |
| Truist Insurance Holdings, LLC, Term Loan, (3-month USD CME Term SOFR + 4.75%) 8.752% 5/6/2032 <sup>(b)(c)</sup>  | 2891 | 2949 |
| Voyager Parent, LLC 9.25% 7/1/2032 <sup>(a)</sup>  | 3825 | 4047 |
| WEX, Inc. 6.50% 3/15/2033 <sup>(a)</sup>  | 550 | 562 |
|  |  | 94963 |
| **Materials 8.01%** |  |  |
| Alliance Resource Operating Partners, LP 8.625% 6/15/2029 <sup>(a)</sup>  | 975 | 1033 |
| AmeriTex HoldCo Intermediate, LLC 7.625% 8/15/2033 <sup>(a)</sup>  | 495 | 516 |
| ArcelorMittal SA 7.00% 10/15/2039  | 488 | 548 |
| ArcelorMittal SA 6.75% 3/1/2041  | 825 | 896 |
| Ardagh Metal Packaging Finance PLC 4.00% 9/1/2029 <sup>(a)</sup>  | 890 | 824 |
| Avient Corp. 6.25% 11/1/2031 <sup>(a)</sup>  | 225 | 229 |
| Axalta Coating Systems Dutch Holding B BV 7.25% 2/15/2031 <sup>(a)</sup>  | 240 | 251 |
| Axalta Coating Systems, LLC 4.75% 6/15/2027 <sup>(a)</sup>  | 460 | 458 |
| Ball Corp. 6.875% 3/15/2028  | 465 | 474 |
| Ball Corp. 6.00% 6/15/2029  | 350 | 359 |
| Ball Corp. 2.875% 8/15/2030  | 160 | 145 |

---

American Funds Insurance Series — Page 253 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Materials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Ball Corp. 3.125% 9/15/2031  | USD1,530 | $1390 |
| Ball Corp. 5.50% 9/15/2033  | 1765 | 1785 |
| BHP Billiton Finance (USA), Ltd. 5.75% 9/5/2055  | 27 | 28 |
| CAN-PACK SA 3.875% 11/15/2029 <sup>(a)</sup>  | 2075 | 1949 |
| Capstone Copper Corp. 6.75% 3/31/2033 <sup>(a)</sup>  | 245 | 253 |
| Celanese US Holdings, LLC 6.665% 7/15/2027  | 45 | 46 |
| Celanese US Holdings, LLC 6.50% 4/15/2030  | 520 | 524 |
| Celanese US Holdings, LLC 7.05% 11/15/2030  | 265 | 274 |
| Celanese US Holdings, LLC 6.75% 4/15/2033  | 1290 | 1285 |
| Celanese US Holdings, LLC 7.20% 11/15/2033  | 70 | 73 |
| Century Aluminum Co. 6.875% 8/1/2032 <sup>(a)</sup>  | 400 | 415 |
| Cleveland-Cliffs, Inc. 5.875% 6/1/2027  | 1363 | 1364 |
| Cleveland-Cliffs, Inc. 4.625% 3/1/2029 <sup>(a)</sup>  | 2036 | 1963 |
| Cleveland-Cliffs, Inc. 6.875% 11/1/2029 <sup>(a)</sup>  | 2404 | 2452 |
| Cleveland-Cliffs, Inc. 6.75% 4/15/2030 <sup>(a)</sup>  | 1105 | 1124 |
| Cleveland-Cliffs, Inc. 4.875% 3/1/2031 <sup>(a)</sup>  | 2025 | 1897 |
| Cleveland-Cliffs, Inc. 7.50% 9/15/2031 <sup>(a)</sup>  | 1930 | 1991 |
| Cleveland-Cliffs, Inc. 7.00% 3/15/2032 <sup>(a)</sup>  | 2035 | 2058 |
| Cleveland-Cliffs, Inc. 7.375% 5/1/2033 <sup>(a)</sup>  | 290 | 296 |
| Cleveland-Cliffs, Inc. 7.625% 1/15/2034 <sup>(a)</sup>  | 1175 | 1211 |
| Consolidated Energy Finance SA 5.625% 10/15/2028 <sup>(a)</sup>  | 655 | 549 |
| Consolidated Energy Finance SA 12.00% 2/15/2031 <sup>(a)</sup>  | 3465 | 3175 |
| CVR Partners, LP 6.125% 6/15/2028 <sup>(a)</sup>  | 485 | 485 |
| First Quantum Minerals, Ltd. 9.375% 3/1/2029 <sup>(a)</sup>  | 4040 | 4287 |
| First Quantum Minerals, Ltd. 7.25% 2/15/2034 <sup>(a)</sup>  | 490 | 507 |
| Freeport-McMoRan, Inc. 4.25% 3/1/2030  | 432 | 427 |
| Freeport-McMoRan, Inc. 5.45% 3/15/2043  | 381 | 367 |
| FXI Holdings, Inc. 12.25% 11/15/2026 <sup>(a)</sup>  | 9297 | 8204 |
| FXI Holdings, Inc. 12.25% 11/15/2026 <sup>(a)</sup>  | 6051 | 5319 |
| INEOS Finance PLC 6.75% 5/15/2028 <sup>(a)</sup>  | 500 | 491 |
| INEOS Finance PLC 7.50% 4/15/2029 <sup>(a)</sup>  | 285 | 278 |
| JH North America Holdings, Inc. 5.875% 1/31/2031 <sup>(a)</sup>  | 510 | 518 |
| JH North America Holdings, Inc. 6.125% 7/31/2032 <sup>(a)</sup>  | 805 | 825 |
| Kaiser Aluminum Corp. 4.625% 3/1/2028 <sup>(a)</sup>  | 638 | 631 |
| LSB Industries, Inc. 6.25% 10/15/2028 <sup>(a)</sup>  | 155 | 153 |
| Magnera Corp. 4.75% 11/15/2029 <sup>(a)</sup>  | 815 | 722 |
| Mauser Packaging Solutions Holding Co. 7.875% 8/15/2026 <sup>(a)</sup>  | 382 | 381 |
| Mauser Packaging Solutions Holding Co. 9.25% 4/15/2027 <sup>(a)</sup>  | 555 | 557 |
| Mercer International, Inc. 12.875% 10/1/2028 <sup>(a)</sup>  | 395 | 360 |
| Mercer International, Inc. 5.125% 2/1/2029  | 280 | 207 |
| Methanex Corp. 5.125% 10/15/2027  | 2415 | 2420 |
| Methanex Corp. 5.25% 12/15/2029  | 747 | 746 |
| Methanex Corp. 5.65% 12/1/2044  | 465 | 398 |
| Methanex US Operations, Inc. 6.25% 3/15/2032 <sup>(a)</sup>  | 985 | 1003 |
| Minera Mexico, SA de CV, 5.625% 2/12/2032 <sup>(a)</sup>  | 200 | 207 |
| Mineral Resources, Ltd. 8.125% 5/1/2027 <sup>(a)</sup>  | 393 | 393 |
| Mineral Resources, Ltd. 8.00% 11/1/2027 <sup>(a)</sup>  | 2079 | 2121 |
| Mineral Resources, Ltd. 9.25% 10/1/2028 <sup>(a)</sup>  | 1820 | 1909 |
| Mineral Resources, Ltd. 8.50% 5/1/2030 <sup>(a)</sup>  | 750 | 781 |
| NOVA Chemicals Corp. 8.50% 11/15/2028 <sup>(a)</sup>  | 245 | 257 |
| NOVA Chemicals Corp. 4.25% 5/15/2029 <sup>(a)</sup>  | 1365 | 1322 |
| NOVA Chemicals Corp. 9.00% 2/15/2030 <sup>(a)</sup>  | 2100 | 2254 |
| NOVA Chemicals Corp. 7.00% 12/1/2031 <sup>(a)</sup>  | 665 | 701 |
| Novelis Corp. 3.875% 8/15/2031 <sup>(a)</sup>  | 497 | 454 |

---

American Funds Insurance Series — Page 254 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Materials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Olin Corp. 6.625% 4/1/2033 <sup>(a)</sup>  | USD80 | $80 |
| Quikrete Holdings, Inc. 6.375% 3/1/2032 <sup>(a)</sup>  | 560 | 580 |
| Quikrete Holdings, Inc. 6.75% 3/1/2033 <sup>(a)</sup>  | 995 | 1035 |
| Samarco Mineracao SA 9.00% PIK 6/30/2031 (5.00% PIK and 4.00% Cash on 12/30/2025) <sup>(a)(d)(g)</sup>  | 1576 | 1585 |
| Samarco Mineracao SA 9.00% PIK 6/30/2031 (5.00% PIK and 4.00% Cash on 12/30/2025) <sup>(d)(g)</sup>  | 668 | 672 |
| SCIH Salt Holdings, Inc. 4.875% 5/1/2028 <sup>(a)</sup>  | 1060 | 1037 |
| Solstice Advanced Materials, Inc. 5.625% 9/30/2033 <sup>(a)</sup>  | 900 | 904 |
| Trident TPI Holdings, Inc. 12.75% 12/31/2028 <sup>(a)</sup>  | 470 | 502 |
| Trivium Packaging Finance BV 8.25% 7/15/2030 <sup>(a)</sup>  | 585 | 625 |
| Trivium Packaging Finance BV 12.25% 1/15/2031 <sup>(a)</sup>  | 1015 | 1100 |
| Tronox, Inc. 4.625% 3/15/2029 <sup>(a)</sup>  | 370 | 242 |
| Tronox, Inc. 9.125% 9/30/2030 <sup>(a)</sup>  | 550 | 539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 2.00%) 8.00% PIK and 6.261% Cash <br> 1/16/2026 <sup>(b)(c)(d)(f)</sup>  | 551 | 137 |
| Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 8.00%) 8.00% PIK 7/16/2026 <sup>(b)(c)(d)(f)</sup>  | 554 | 137 |
| Venator Material, LLC, Term Loan, (USD-SOFR + 10.00%) 8.00% PIK and 6.322% Cash 10/12/2028 <sup>(b)(c)(d)(f)</sup>  | 912 | 226 |
| Veritiv Operating Co. 10.50% 11/30/2030 <sup>(a)</sup>  | 780 | 838 |
| Warrior Met Coal, Inc. 7.875% 12/1/2028 <sup>(a)</sup>  | 598 | 609 |
|  |  | 82368 |
| **Information technology 7.88%** |  |  |
| Acuris Finance US, Inc. 9.00% 8/1/2029 <sup>(a)</sup>  | 1550 | 1621 |
| ams-OSRAM AG 12.25% 3/30/2029 <sup>(a)</sup>  | 3050 | 3285 |
| Booz Allen Hamilton, Inc. 3.875% 9/1/2028 <sup>(a)</sup>  | 60 | 59 |
| Cloud Software Group, Inc. 6.50% 3/31/2029 <sup>(a)</sup>  | 1875 | 1894 |
| Cloud Software Group, Inc. 9.00% 9/30/2029 <sup>(a)</sup>  | 5185 | 5384 |
| Cloud Software Group, Inc. 8.25% 6/30/2032 <sup>(a)</sup>  | 1935 | 2055 |
| Cloud Software Group, Inc. 6.625% 8/15/2033 <sup>(a)</sup>  | 1905 | 1941 |
| CommScope Technologies, LLC 5.00% 3/15/2027 <sup>(a)</sup>  | 1350 | 1341 |
| CommScope, LLC 8.25% 3/1/2027 <sup>(a)</sup>  | 1404 | 1421 |
| CommScope, LLC 7.125% 7/1/2028 <sup>(a)</sup>  | 1107 | 1112 |
| CommScope, LLC 4.75% 9/1/2029 <sup>(a)</sup>  | 103 | 102 |
| CommScope, LLC 9.50% 12/15/2031 <sup>(a)</sup>  | 525 | 544 |
| Commscope, LLC, Term Loan, (3-month USD CME Term SOFR + 4.75%) 8.913% 12/17/2029 <sup>(b)(c)</sup>  | 645 | 653 |
| Diebold Nixdorf, Inc. 7.75% 3/31/2030 <sup>(a)</sup>  | 5475 | 5789 |
| Ellucian Holdings, Inc. 6.50% 12/1/2029 <sup>(a)</sup>  | 275 | 280 |
| Ellucian Holdings, Inc., Term Loan, (3-month USD CME Term SOFR + 4.75%) 8.913% 11/22/2032 <sup>(b)(c)</sup>  | 300 | 307 |
| Fair Isaac Corp. 4.00% 6/15/2028 <sup>(a)</sup>  | 1175 | 1144 |
| Fair Isaac Corp. 6.00% 5/15/2033 <sup>(a)</sup>  | 2200 | 2233 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 11.288% 9/13/2029 <sup>(b)(c)(i)</sup>  | 1009 | 1016 |
| Finastra USA, Inc., Term Loan, (1-month USD CME Term SOFR + 4.00%) 8.129% 7/30/2032 <sup>(b)(c)</sup>  | 2945 | 2936 |
| Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + 7.00%) 11.038% 9/15/2033 <sup>(b)(c)</sup>  | 160 | 160 |
| Fortress Intermediate 3, Inc. 7.50% 6/1/2031 <sup>(a)</sup>  | 440 | 461 |
| Gen Digital, Inc. 6.25% 4/1/2033 <sup>(a)</sup>  | 725 | 742 |
| Helios Software Holdings, Inc. 8.75% 5/1/2029 <sup>(a)</sup>  | 3875 | 4021 |
| Hughes Satellite Systems Corp. 5.25% 8/1/2026  | 5299 | 5201 |
| Hughes Satellite Systems Corp. 6.625% 8/1/2026  | 5052 | 4809 |
| Imola Merger Corp. 4.75% 5/15/2029 <sup>(a)</sup>  | 300 | 292 |
| Intel Corp. 3.05% 8/12/2051  | 150 | 95 |
| Intel Corp. 5.60% 2/21/2054  | 253 | 243 |
| ION Trading Technologies SARL 9.50% 5/30/2029 <sup>(a)</sup>  | 2825 | 2998 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 3.25%) 7.413% 3/20/2032 <sup>(b)(c)</sup>  | 622 | 624 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 5.00%) 9.163% 3/20/2033 <sup>(b)(c)</sup>  | 875 | 877 |
| McAfee Corp. 7.375% 2/15/2030 <sup>(a)</sup>  | 275 | 255 |

---

American Funds Insurance Series — Page 255 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Information technology (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| NCR Atleos Corp. 9.50% 4/1/2029 <sup>(a)</sup>  | USD1,785 | $1934 |
| NCR Voyix Corp. 5.125% 4/15/2029 <sup>(a)</sup>  | 343 | 338 |
| Pagaya US Holding Co., LLC 8.875% 8/1/2030 <sup>(a)</sup>  | 700 | 654 |
| Qnity Electronics, Inc. 5.75% 8/15/2032 <sup>(a)</sup>  | 120 | 121 |
| Qnity Electronics, Inc. 6.25% 8/15/2033 <sup>(a)</sup>  | 120 | 123 |
| Shift4 Payments, LLC 6.75% 8/15/2032 <sup>(a)</sup>  | 985 | 1019 |
| Synaptics, Inc. 4.00% 6/15/2029 <sup>(a)</sup>  | 375 | 359 |
| UKG, Inc. 6.875% 2/1/2031 <sup>(a)</sup>  | 1325 | 1368 |
| Unisys Corp. 10.625% 1/15/2031 <sup>(a)</sup>  | 1875 | 1999 |
| Viasat, Inc. 5.625% 4/15/2027 <sup>(a)</sup>  | 5540 | 5522 |
| Viasat, Inc. 6.50% 7/15/2028 <sup>(a)</sup>  | 1505 | 1472 |
| Viasat, Inc. 7.50% 5/30/2031 <sup>(a)</sup>  | 2559 | 2405 |
| Viasat, Inc., Term Loan B, (1-month USD CME Term SOFR + 4.50%) 8.778% 3/2/2029 <sup>(b)(c)</sup>  | 2092 | 2070 |
| Viasat, Inc., Term Loan B, (1-month USD CME Term SOFR + 4.50%) 8.75% 5/30/2030 <sup>(b)(c)</sup>  | 1152 | 1135 |
| Viavi Solutions, Inc. 3.75% 10/1/2029 <sup>(a)</sup>  | 230 | 218 |
| Wolfspeed, Inc. 4.00% PIK and 9.875% Cash 6/23/2030 <sup>(d)(i)</sup>  | 3066 | 3357 |
| X.AI Corp. 12.50% 6/30/2030  | 200 | 210 |
| Xerox Holdings Corp. 5.50% 8/15/2028 <sup>(a)</sup>  | 935 | 552 |
| Xerox Holdings Corp. 8.875% 11/30/2029 <sup>(a)</sup>  | 269 | 147 |
| Ziff Davis, Inc. 4.625% 10/15/2030 <sup>(a)</sup>  | 125 | 118 |
|  |  | 81016 |
| **Health care 7.65%** |  |  |
| 1261229 B.C., Ltd. 10.00% 4/15/2032 <sup>(a)</sup>  | 2015 | 2067 |
| AdaptHealth, LLC 6.125% 8/1/2028 <sup>(a)</sup>  | 305 | 304 |
| AdaptHealth, LLC 4.625% 8/1/2029 <sup>(a)</sup>  | 1105 | 1046 |
| AdaptHealth, LLC 5.125% 3/1/2030 <sup>(a)</sup>  | 1505 | 1437 |
| Amneal Pharmaceuticals, LLC 6.875% 8/1/2032 <sup>(a)</sup>  | 570 | 590 |
| AthenaHealth Group, Inc. 6.50% 2/15/2030 <sup>(a)</sup>  | 590 | 586 |
| Avantor Funding, Inc. 4.625% 7/15/2028 <sup>(a)</sup>  | 2040 | 2009 |
| Avantor Funding, Inc. 3.875% 11/1/2029 <sup>(a)</sup>  | 620 | 590 |
| Bausch + Lomb Corp. 8.375% 10/1/2028 <sup>(a)</sup>  | 205 | 214 |
| Bausch + Lomb Corp., Term Loan B, (1-month USD CME Term SOFR + 4.25%) 8.413% 1/15/2031 <sup>(b)(c)</sup>  | 426 | 427 |
| Bausch Health Americas, Inc. 8.50% 1/31/2027 <sup>(a)</sup>  | 1786 | 1770 |
| Bausch Health Cos., Inc. 5.00% 1/30/2028 <sup>(a)</sup>  | 442 | 380 |
| Bausch Health Cos., Inc. 4.875% 6/1/2028 <sup>(a)</sup>  | 1535 | 1375 |
| Bausch Health Cos., Inc. 11.00% 9/30/2028 <sup>(a)</sup>  | 530 | 552 |
| Bausch Health Cos., Inc. 7.25% 5/30/2029 <sup>(a)</sup>  | 20 | 16 |
| Bausch Health Cos., Inc. 5.25% 1/30/2030 <sup>(a)</sup>  | 682 | 481 |
| Bausch Health Cos., Inc. 5.25% 2/15/2031 <sup>(a)</sup>  | 592 | 388 |
| Biocon Biologics Global PLC 6.67% 10/9/2029  | 200 | 194 |
| Centene Corp. 4.625% 12/15/2029  | 945 | 917 |
| Centene Corp. 3.375% 2/15/2030  | 42 | 39 |
| Centene Corp. 2.50% 3/1/2031  | 1125 | 970 |
| Centene Corp. 2.625% 8/1/2031  | 100 | 86 |
| Charles River Laboratories International, Inc. 4.25% 5/1/2028 <sup>(a)</sup>  | 186 | 182 |
| CHS / Community Health Systems, Inc. 6.00% 1/15/2029 <sup>(a)</sup>  | 805 | 782 |
| CHS / Community Health Systems, Inc. 5.25% 5/15/2030 <sup>(a)</sup>  | 2360 | 2137 |
| CHS / Community Health Systems, Inc. 4.75% 2/15/2031 <sup>(a)</sup>  | 1020 | 883 |
| CHS / Community Health Systems, Inc. 10.875% 1/15/2032 <sup>(a)</sup>  | 180 | 191 |
| DaVita, Inc. 4.625% 6/1/2030 <sup>(a)</sup>  | 1085 | 1041 |
| DaVita, Inc. 3.75% 2/15/2031 <sup>(a)</sup>  | 875 | 802 |
| DaVita, Inc. 6.875% 9/1/2032 <sup>(a)</sup>  | 2255 | 2331 |
| DaVita, Inc. 6.75% 7/15/2033 <sup>(a)</sup>  | 2035 | 2100 |

---

American Funds Insurance Series — Page 256 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Health care (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Endo Finance Holdings, Inc. 8.50% 4/15/2031 <sup>(a)</sup>  | USD2,565 | $2755 |
| Endo Finance Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.00%) 8.163% 4/23/2031 <sup>(b)(c)</sup>  | 1752 | 1757 |
| Grifols SA 4.75% 10/15/2028 <sup>(a)</sup>  | 1590 | 1546 |
| Grifols SA 7.50% 5/1/2030  | EUR410 | 509 |
| HCA, Inc. 4.625% 3/15/2052  | USD233 | 193 |
| HCA, Inc. 7.50% 11/15/2095  | 210 | 234 |
| Insulet Corp. 6.50% 4/1/2033 <sup>(a)</sup>  | 57 | 59 |
| IQVIA, Inc. 6.25% 6/1/2032 <sup>(a)</sup>  | 1475 | 1518 |
| Jazz Securities DAC 4.375% 1/15/2029 <sup>(a)</sup>  | 506 | 493 |
| Medline Borrower, LP 3.875% 4/1/2029 <sup>(a)</sup>  | 2330 | 2249 |
| Medline Borrower, LP 6.25% 4/1/2029 <sup>(a)</sup>  | 914 | 938 |
| Medline Borrower, LP 5.25% 10/1/2029 <sup>(a)</sup>  | 1985 | 1969 |
| Medline Borrower, LP, Term Loan B, (1-month USD CME Term SOFR + 2.00%) 6.163% 10/23/2028 <sup>(b)(c)</sup>  | 290 | 291 |
| Molina Healthcare, Inc. 4.375% 6/15/2028 <sup>(a)</sup>  | 1115 | 1088 |
| Molina Healthcare, Inc. 3.875% 11/15/2030 <sup>(a)</sup>  | 1514 | 1402 |
| Molina Healthcare, Inc. 3.875% 5/15/2032 <sup>(a)</sup>  | 3275 | 2974 |
| Molina Healthcare, Inc. 6.25% 1/15/2033 <sup>(a)</sup>  | 1190 | 1204 |
| Owens & Minor, Inc. 4.50% 3/31/2029 <sup>(a)</sup>  | 2077 | 1669 |
| Owens & Minor, Inc. 6.625% 4/1/2030 <sup>(a)</sup>  | 6150 | 5080 |
| Perrigo Finance Unlimited Co. 6.125% 9/30/2032  | 400 | 403 |
| Radiology Partners, Inc. 9.781% PIK 2/15/2030 <sup>(a)(d)</sup>  | 2278 | 2231 |
| Radiology Partners, Inc. 8.50% 7/15/2032 <sup>(a)</sup>  | 2945 | 3051 |
| Sterigenics-Nordion Holdings, LLC 7.375% 6/1/2031 <sup>(a)</sup>  | 635 | 668 |
| Surgery Center Holdings, Inc. 7.25% 4/15/2032 <sup>(a)</sup>  | 665 | 684 |
| Team Health Holdings, Inc. 8.375% 6/30/2028 <sup>(a)</sup>  | 260 | 266 |
| Team Health Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.50%) 8.796% 6/30/2028 <sup>(b)(c)</sup>  | 259 | 259 |
| Tenet Healthcare Corp. 4.25% 6/1/2029  | 1785 | 1745 |
| Tenet Healthcare Corp. 4.375% 1/15/2030  | 895 | 871 |
| Tenet Healthcare Corp. 6.75% 5/15/2031  | 1070 | 1109 |
| Tenet Healthcare Corp. 6.875% 11/15/2031  | 100 | 109 |
| Teva Pharmaceutical Finance Netherlands III BV 4.75% 5/9/2027  | 452 | 452 |
| Teva Pharmaceutical Finance Netherlands III BV 6.75% 3/1/2028  | 200 | 208 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 6990 | 7033 |
| Teva Pharmaceutical Finance Netherlands III BV 7.875% 9/15/2029  | 400 | 437 |
| Teva Pharmaceutical Finance Netherlands III BV 8.125% 9/15/2031  | 1159 | 1327 |
| Teva Pharmaceutical Finance Netherlands III BV 6.00% 12/1/2032  | 1345 | 1402 |
| Teva Pharmaceutical Finance Netherlands III BV 4.10% 10/1/2046  | 1257 | 939 |
| Teva Pharmaceutical Finance Netherlands IV BV 5.75% 12/1/2030  | 610 | 629 |
|  |  | 78638 |
| **Real estate 6.69%** |  |  |
| Anywhere Real Estate Group, LLC 5.75% 1/15/2029 <sup>(a)</sup>  | 1818 | 1754 |
| Anywhere Real Estate Group, LLC 5.25% 4/15/2030 <sup>(a)</sup>  | 1157 | 1081 |
| Anywhere Real Estate Group, LLC 7.00% 4/15/2030 <sup>(a)</sup>  | 345 | 349 |
| Brookfield Property REIT, Inc. 5.75% 5/15/2026 <sup>(a)</sup>  | 739 | 738 |
| Fideicomiso Fibra Uno 7.70% 1/23/2032 <sup>(a)</sup>  | 405 | 438 |
| Forestar Group, Inc. 5.00% 3/1/2028 <sup>(a)</sup>  | 92 | 91 |
| Forestar Group, Inc. 6.50% 3/15/2033 <sup>(a)</sup>  | 1900 | 1945 |
| Howard Hughes Corp. (The) 4.125% 2/1/2029 <sup>(a)</sup>  | 2763 | 2653 |
| Howard Hughes Corp. (The) 4.375% 2/1/2031 <sup>(a)</sup>  | 3873 | 3634 |
| Hudson Pacific Properties, LP 5.95% 2/15/2028  | 200 | 197 |
| Hudson Pacific Properties, LP 3.25% 1/15/2030  | 430 | 370 |
| Iron Mountain, Inc. 5.00% 7/15/2028 <sup>(a)</sup>  | 367 | 365 |
| Iron Mountain, Inc. 7.00% 2/15/2029 <sup>(a)</sup>  | 210 | 217 |

---

American Funds Insurance Series — Page 257 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Real estate (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Iron Mountain, Inc. 5.25% 7/15/2030 <sup>(a)</sup>  | USD3,225 | $3191 |
| Iron Mountain, Inc. 4.50% 2/15/2031 <sup>(a)</sup>  | 1995 | 1906 |
| Iron Mountain, Inc. 5.625% 7/15/2032 <sup>(a)</sup>  | 220 | 219 |
| Kennedy-Wilson, Inc. 4.75% 3/1/2029  | 1785 | 1707 |
| Kennedy-Wilson, Inc. 4.75% 2/1/2030  | 2645 | 2472 |
| Kennedy-Wilson, Inc. 5.00% 3/1/2031  | 2455 | 2285 |
| Ladder Capital Finance Holdings LLLP 4.75% 6/15/2029 <sup>(a)</sup>  | 565 | 555 |
| Ladder Capital Finance Holdings LLLP 5.50% 8/1/2030  | 38 | 39 |
| Ladder Capital Finance Holdings LLLP 7.00% 7/15/2031 <sup>(a)</sup>  | 215 | 226 |
| MPT Operating Partnership, LP 5.00% 10/15/2027  | 10273 | 9962 |
| MPT Operating Partnership, LP 4.625% 8/1/2029  | 170 | 142 |
| MPT Operating Partnership, LP 3.50% 3/15/2031  | 1524 | 1122 |
| MPT Operating Partnership, LP 8.50% 2/15/2032 <sup>(a)</sup>  | 4589 | 4880 |
| MPT Operating Partnership, LP, Term Loan A, (1-month USD CME Term SOFR + 2.35%) 6.623% 6/30/2027 <sup>(b)(c)</sup>  | 190 | 189 |
| Park Intermediate Holdings, LLC 5.875% 10/1/2028 <sup>(a)</sup>  | 370 | 370 |
| Park Intermediate Holdings, LLC 4.875% 5/15/2029 <sup>(a)</sup>  | 820 | 800 |
| Park Intermediate Holdings, LLC 7.00% 2/1/2030 <sup>(a)</sup>  | 740 | 763 |
| Pebblebrook Hotel, LP 6.375% 10/15/2029 <sup>(a)</sup>  | 655 | 665 |
| RLJ Lodging Trust, LP 3.75% 7/1/2026 <sup>(a)</sup>  | 45 | 45 |
| RLJ Lodging Trust, LP 4.00% 9/15/2029 <sup>(a)</sup>  | 460 | 435 |
| SBA Communications Corp. 3.125% 2/1/2029  | 131 | 123 |
| Service Properties Trust 4.75% 10/1/2026  | 1515 | 1519 |
| Service Properties Trust 4.95% 2/15/2027  | 1261 | 1257 |
| Service Properties Trust 0% 9/30/2027 <sup>(a)</sup>  | 1175 | 1037 |
| Service Properties Trust 5.50% 12/15/2027  | 750 | 737 |
| Service Properties Trust 3.95% 1/15/2028  | 3031 | 2839 |
| Service Properties Trust 8.375% 6/15/2029  | 2460 | 2500 |
| Service Properties Trust 4.95% 10/1/2029  | 3518 | 3104 |
| Service Properties Trust 4.375% 2/15/2030  | 3180 | 2706 |
| Service Properties Trust 8.625% 11/15/2031 <sup>(a)</sup>  | 4850 | 5167 |
| Service Properties Trust 8.875% 6/15/2032  | 1385 | 1394 |
| VICI Properties, LP 3.875% 2/15/2029 <sup>(a)</sup>  | 625 | 611 |
|  |  | 68799 |
| **Industrials 5.87%** |  |  |
| AAR Escrow Issuer, LLC 6.75% 3/15/2029 <sup>(a)</sup>  | 261 | 269 |
| ADT Security Corp. 4.125% 8/1/2029 <sup>(a)</sup>  | 200 | 194 |
| AECOM 6.00% 8/1/2033 <sup>(a)</sup>  | 45 | 46 |
| Albion Financing 1 SARL 7.00% 5/21/2030 <sup>(a)</sup>  | 645 | 669 |
| Allison Transmission, Inc. 3.75% 1/30/2031 <sup>(a)</sup>  | 1045 | 966 |
| Ambipar Lux SARL 10.875% 2/5/2033 <sup>(a)</sup>  | 200 | 34 |
| Amentum Holdings, Inc. 7.25% 8/1/2032 <sup>(a)</sup>  | 1265 | 1315 |
| ATI, Inc. 4.875% 10/1/2029  | 690 | 679 |
| ATI, Inc. 5.125% 10/1/2031  | 775 | 763 |
| Avis Budget Car Rental, LLC 5.75% 7/15/2027 <sup>(a)</sup>  | 767 | 766 |
| Avis Budget Car Rental, LLC 4.75% 4/1/2028 <sup>(a)</sup>  | 55 | 53 |
| Avis Budget Car Rental, LLC 5.375% 3/1/2029 <sup>(a)</sup>  | 925 | 903 |
| Avis Budget Car Rental, LLC 8.00% 2/15/2031 <sup>(a)</sup>  | 445 | 461 |
| Avis Budget Group, Inc. 5.75% 7/15/2027 <sup>(a)</sup>  | 61 | 61 |
| Axon Enterprise, Inc. 6.125% 3/15/2030 <sup>(a)</sup>  | 1205 | 1241 |
| Axon Enterprise, Inc. 6.25% 3/15/2033 <sup>(a)</sup>  | 1230 | 1269 |
| BWX Technologies, Inc. 4.125% 6/30/2028 <sup>(a)</sup>  | 165 | 161 |
| BWX Technologies, Inc. 4.125% 4/15/2029 <sup>(a)</sup>  | 335 | 325 |
| Clarivate Science Holdings Corp. 3.875% 7/1/2028 <sup>(a)</sup>  | 915 | 881 |

---

American Funds Insurance Series — Page 258 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Industrials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Clarivate Science Holdings Corp. 4.875% 7/1/2029 <sup>(a)</sup>  | USD890 | $842 |
| Clean Harbors, Inc. 5.75% 10/15/2033 <sup>(a)</sup>  | 1605 | 1620 |
| CoreLogic, Inc. 4.50% 5/1/2028 <sup>(a)</sup>  | 3294 | 3204 |
| CoreLogic, Inc., Term Loan, (3-month USD CME Term SOFR + 6.50%) 10.778% 6/4/2029 <sup>(b)(c)</sup>  | 310 | 310 |
| Enviri Corp. 5.75% 7/31/2027 <sup>(a)</sup>  | 800 | 794 |
| EquipmentShare.com, Inc. 9.00% 5/15/2028 <sup>(a)</sup>  | 2745 | 2908 |
| EquipmentShare.com, Inc. 8.625% 5/15/2032 <sup>(a)</sup>  | 490 | 530 |
| FTAI Aviation Investors, LLC 7.875% 12/1/2030 <sup>(a)</sup>  | 45 | 48 |
| Garda World Security Corp. 8.375% 11/15/2032 <sup>(a)</sup>  | 1735 | 1802 |
| Herc Holdings, Inc. 5.50% 7/15/2027 <sup>(a)</sup>  | 280 | 279 |
| Herc Holdings, Inc. 6.625% 6/15/2029 <sup>(a)</sup>  | 455 | 468 |
| Herc Holdings, Inc. 7.00% 6/15/2030 <sup>(a)</sup>  | 890 | 925 |
| Herc Holdings, Inc. 7.25% 6/15/2033 <sup>(a)</sup>  | 1300 | 1358 |
| Hertz Corp. (The) 4.625% 12/1/2026 <sup>(a)</sup>  | 645 | 635 |
| Icahn Enterprises, LP 6.25% 5/15/2026  | 273 | 273 |
| Icahn Enterprises, LP 5.25% 5/15/2027  | 3754 | 3693 |
| Icahn Enterprises, LP 9.75% 1/15/2029  | 735 | 743 |
| Icahn Enterprises, LP 4.375% 2/1/2029  | 855 | 739 |
| Icahn Enterprises, LP 10.00% 11/15/2029 <sup>(a)</sup>  | 90 | 90 |
| Miter Brands Acquisition Holdco, Inc. 6.75% 4/1/2032 <sup>(a)</sup>  | 309 | 318 |
| Moog, Inc. 4.25% 12/9/2027 <sup>(a)</sup>  | 395 | 390 |
| NESCO Holdings II, Inc. 5.50% 4/15/2029 <sup>(a)</sup>  | 885 | 867 |
| OneSky Flight, LLC 8.875% 12/15/2029 <sup>(a)</sup>  | 360 | 379 |
| Peraton Corp., Term Loan B, (3-month USD CME Term SOFR + 3.75%) 8.013% 2/1/2028 <sup>(b)(c)</sup>  | 1476 | 1248 |
| Pitney Bowes, Inc. 6.875% 3/15/2027 <sup>(a)</sup>  | 600 | 600 |
| Prime Security Services Borrower, LLC 3.375% 8/31/2027 <sup>(a)</sup>  | 475 | 462 |
| QXO Building Products, Inc. 6.75% 4/30/2032 <sup>(a)</sup>  | 1745 | 1811 |
| QXO Building Products, Inc., Term Loan B, (1-month USD CME Term SOFR + 3.00%) 7.163% 4/30/2032 <sup>(b)(c)</sup>  | 185 | 187 |
| Reworld Holding Corp. 4.875% 12/1/2029 <sup>(a)</sup>  | 815 | 767 |
| Sabre GLBL, Inc. 11.125% 7/15/2030 <sup>(a)</sup>  | 1675 | 1624 |
| Science Applications International Corp. 5.875% 11/1/2033 <sup>(a)</sup>  | 505 | 505 |
| Sensata Technologies, Inc. 3.75% 2/15/2031 <sup>(a)</sup>  | 795 | 734 |
| SkyMiles IP, Ltd. 4.75% 10/20/2028 <sup>(a)</sup>  | 440 | 443 |
| Spirit AeroSystems, Inc. 4.60% 6/15/2028  | 798 | 798 |
| Spirit AeroSystems, Inc. 9.375% 11/30/2029 <sup>(a)</sup>  | 34 | 36 |
| Spirit AeroSystems, Inc. 9.75% 11/15/2030 <sup>(a)</sup>  | 195 | 215 |
| Spirit AeroSystems, Inc., Term Loan, (3-month CME Term SOFR + 4.25%) 8.808% 1/15/2027 <sup>(b)(c)</sup>  | 1078 | 1085 |
| Standard Building Solutions, Inc. 6.50% 8/15/2032 <sup>(a)</sup>  | 435 | 447 |
| Standard Building Solutions, Inc. 6.25% 8/1/2033 <sup>(a)</sup>  | 1515 | 1537 |
| Texas Combined Tirz I, LLC 0% 12/7/2062 <sup>(a)(f)</sup>  | 98 | 98 |
| TransDigm, Inc. 6.75% 8/15/2028 <sup>(a)</sup>  | 75 | 76 |
| TransDigm, Inc. 4.625% 1/15/2029  | 180 | 177 |
| TransDigm, Inc. 6.375% 3/1/2029 <sup>(a)</sup>  | 235 | 241 |
| TransDigm, Inc. 6.875% 12/15/2030 <sup>(a)</sup>  | 355 | 368 |
| TransDigm, Inc. 6.625% 3/1/2032 <sup>(a)</sup>  | 1775 | 1830 |
| TransDigm, Inc. 6.00% 1/15/2033 <sup>(a)</sup>  | 645 | 653 |
| TransDigm, Inc. 6.375% 5/31/2033 <sup>(a)</sup>  | 2900 | 2940 |
| TransDigm, Inc. 6.25% 1/31/2034 <sup>(a)</sup>  | 1190 | 1225 |
| TransDigm, Inc. 6.75% 1/31/2034 <sup>(a)</sup>  | 3705 | 3833 |
| United Rentals (North America), Inc. 6.00% 12/15/2029 <sup>(a)</sup>  | 115 | 118 |
| United Rentals (North America), Inc. 3.875% 2/15/2031  | 745 | 705 |
| United Rentals (North America), Inc. 6.125% 3/15/2034 <sup>(a)</sup>  | 310 | 323 |
| Waste Pro USA, Inc. 7.00% 2/1/2033 <sup>(a)</sup>  | 225 | 234 |

---

American Funds Insurance Series — Page 259 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Industrials (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| WESCO Distribution, Inc. 6.625% 3/15/2032 <sup>(a)</sup>  | USD425 | $442 |
| WESCO Distribution, Inc. 6.375% 3/15/2033 <sup>(a)</sup>  | 320 | 332 |
|  |  | 60365 |
| **Consumer staples 3.15%** |  |  |
| Albertsons Cos., Inc. 5.875% 2/15/2028 <sup>(a)</sup>  | 400 | 400 |
| Albertsons Cos., Inc. 3.50% 3/15/2029 <sup>(a)</sup>  | 998 | 947 |
| Albertsons Cos., Inc. 4.875% 2/15/2030 <sup>(a)</sup>  | 1620 | 1593 |
| Amer Sports Co. 6.75% 2/16/2031 <sup>(a)</sup>  | 765 | 796 |
| B&G Foods, Inc. 5.25% 9/15/2027  | 2103 | 2037 |
| B&G Foods, Inc. 8.00% 9/15/2028 <sup>(a)</sup>  | 3510 | 3405 |
| B&G Foods, Inc. 7.663% 10/10/2029 <sup>(b)(c)</sup>  | 192 | 184 |
| Central Garden & Pet Co. 4.125% 10/15/2030  | 755 | 718 |
| Central Garden & Pet Co. 4.125% 4/30/2031 <sup>(a)</sup>  | 2150 | 2009 |
| Coty, Inc. 5.00% 4/15/2026 <sup>(a)</sup>  | 280 | 279 |
| Coty, Inc. 4.75% 1/15/2029 <sup>(a)</sup>  | 1070 | 1049 |
| Coty, Inc. 6.625% 7/15/2030 <sup>(a)</sup>  | 380 | 389 |
| Darling Ingredients, Inc. 6.00% 6/15/2030 <sup>(a)</sup>  | 485 | 490 |
| Fiesta Purchaser, Inc. 7.875% 3/1/2031 <sup>(a)</sup>  | 915 | 967 |
| Fiesta Purchaser, Inc. 9.625% 9/15/2032 <sup>(a)</sup>  | 775 | 839 |
| Fiesta Purchaser, Inc., Term Loan B, (1-month USD CME Term SOFR + 2.75%) 6.913% 2/12/2031 <sup>(b)(c)</sup>  | 158 | 158 |
| Ingles Markets, Inc. 4.00% 6/15/2031 <sup>(a)</sup>  | 370 | 348 |
| Lamb Weston Holdings, Inc. 4.875% 5/15/2028 <sup>(a)</sup>  | 75 | 75 |
| Lamb Weston Holdings, Inc. 4.125% 1/31/2030 <sup>(a)</sup>  | 1145 | 1101 |
| Lamb Weston Holdings, Inc. 4.375% 1/31/2032 <sup>(a)</sup>  | 855 | 809 |
| Mars, Inc. 4.60% 3/1/2028 <sup>(a)</sup>  | 150 | 152 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(a)</sup>  | 45 | 46 |
| Mars, Inc. 5.70% 5/1/2055 <sup>(a)</sup>  | 45 | 46 |
| Opal Bidco SAS 6.50% 3/31/2032 <sup>(a)</sup>  | 460 | 472 |
| Post Holdings, Inc. 5.50% 12/15/2029 <sup>(a)</sup>  | 451 | 450 |
| Post Holdings, Inc. 4.625% 4/15/2030 <sup>(a)</sup>  | 1815 | 1752 |
| Post Holdings, Inc. 4.50% 9/15/2031 <sup>(a)</sup>  | 1145 | 1071 |
| Post Holdings, Inc. 6.25% 2/15/2032 <sup>(a)</sup>  | 920 | 947 |
| Post Holdings, Inc. 6.375% 3/1/2033 <sup>(a)</sup>  | 415 | 420 |
| Prestige Brands, Inc. 5.125% 1/15/2028 <sup>(a)</sup>  | 138 | 137 |
| Prestige Brands, Inc. 3.75% 4/1/2031 <sup>(a)</sup>  | 1275 | 1175 |
| TreeHouse Foods, Inc. 4.00% 9/1/2028  | 2200 | 2144 |
| United Natural Foods, Inc. 6.75% 10/15/2028 <sup>(a)</sup>  | 963 | 966 |
| United Natural Foods, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.75%) 8.913% 5/1/2031 <sup>(b)(c)</sup>  | 2994 | 3014 |
| US Foods, Inc. 4.625% 6/1/2030 <sup>(a)</sup>  | 510 | 499 |
| US Foods, Inc. 5.75% 4/15/2033 <sup>(a)</sup>  | 470 | 474 |
|  |  | 32358 |
| **Utilities 1.69%** |  |  |
| AmeriGas Partners, LP 5.75% 5/20/2027  | 302 | 302 |
| Calpine Corp. 4.50% 2/15/2028 <sup>(a)</sup>  | 150 | 149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp., junior subordinated, 6.50% 6/1/2055 (5-year UST Yield Curve Rate T Note Constant Maturity <br> + 1.961% on 6/1/2035) <sup>(g)</sup>  | 470 | 487 |
| Emera, Inc. 6.75% 6/15/2076 (3-month USD CME Term SOFR + 5.702% on 6/15/2026) <sup>(g)</sup>  | 1155 | 1162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exelon Corp., junior subordinated, 6.50% 3/15/2055 (5-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.975% on 3/15/2035) <sup>(g)</sup>  | 350 | 366 |
| FirstEnergy Corp. 2.25% 9/1/2030  | 820 | 737 |
| Ithaca Energy (North Sea) PLC 8.125% 10/15/2029 <sup>(a)</sup>  | 355 | 372 |
| Long Ridge Energy, LLC 8.75% 2/15/2032 <sup>(a)</sup>  | 2508 | 2580 |

---

American Funds Insurance Series — Page 260 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Corporate bonds, notes & loans (continued)**<br> **Utilities (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Long Ridge Energy, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.50%) 8.502% 2/19/2032 <sup>(b)(c)</sup>  | USD726 | $710 |
| MI Windows and Doors, LLC, Term Loan B3, (3-month USD CME Term SOFR + 2.75%) 6.913% 3/28/2031 <sup>(b)(c)</sup>  | 277 | 279 |
| Pacific Gas and Electric Co. 5.05% 10/15/2032  | 120 | 120 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040  | 280 | 212 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 745 | 640 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | 1305 | 892 |
| Pacific Gas and Electric Co. 6.10% 10/15/2055  | 200 | 200 |
| PG&E Corp. 5.00% 7/1/2028  | 390 | 387 |
| PG&E Corp. 5.25% 7/1/2030  | 2960 | 2921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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>(g)</sup>  | 2050 | 2110 |
| Saavi Energia SARL 8.875% 2/10/2035 <sup>(a)</sup>  | 620 | 668 |
| Talen Energy Supply, LLC 8.625% 6/1/2030 <sup>(a)</sup>  | 1307 | 1388 |
| Talen Energy Supply, LLC, Term Loan B, (3-month USD CME Term SOFR + 2.50%) 6.733% 5/17/2030 <sup>(b)(c)</sup>  | 279 | 279 |
| XPLR Infrastructure Operating Partners, LP 8.375% 1/15/2031 <sup>(a)</sup>  | 395 | 414 |
|  |  | 17375 |
| **Total corporate bonds, notes & loans** |  | 899952 |
| **Mortgage-backed obligations 0.06%**<br> **Collateralized mortgage-backed obligations 0.06%**<br>|  |  |
| Treehouse Park Improvement Association No.1 9.75% 12/1/2033 <sup>(a)(f)</sup>  | 580 | 580 |
| **Municipals 0.04%**<br> **Puerto Rico 0.04%**<br>|  |  |
| GO Taxable Bonds, Series 2022, 0% 11/1/2043 <sup>(c)</sup>  | 327 | 217 |
| GO Taxable Bonds, CAB, Series 2022, 0% 11/1/2051  | 361 | 244 |
|  |  | 461 |
| **Total municipals** |  | 461 |
| **Total bonds, notes & other debt instruments** (cost: $898,323,000) |  | 900993 |
| Convertible bonds & notes 0.09%<br> **Communication services 0.09%**<br>|  |  |
| EchoStar Corp., convertible notes, 3.875% PIK 11/30/2030 <sup>(d)</sup>  | 379 | 932 |
| **Total convertible bonds & notes** (cost: $403,000) |  | 932 |
| Common stocks 6.40%<br> **Health care 1.72%**<br>| Shares |  |
| Rotech Healthcare, Inc. <sup>(f)(i)(j)</sup>  | 201793 | 14563 |
| Mallinckrodt PLC <sup>(j)</sup>  | 28965 | 3027 |
| Endo, LP, Class A1 <sup>(a)(j)</sup>  | 192719 | 123 |
| Endo, LP, nonvoting shares <sup>(f)(j)</sup>  | 6550000 | — <br><sup>(h)</sup><br>|
|  |  | 17713 |
| **Utilities 1.59%** |  |  |
| Talen Energy Corp. <sup>(j)</sup>  | 37868 | 16108 |
| PG&E Corp.  | 18786 | 284 |
|  |  | 16392 |

---

American Funds Insurance Series — Page 261 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Information technology 1.56%**<br>| Shares | Value<br> (000)<br>|
| Diebold Nixdorf, Inc. <sup>(j)</sup>  | 281243 | $16039 |
| **Energy 1.14%** |  |  |
| Constellation Oil Services Holding SA (NDR) <sup>(j)</sup>  | 624465 | 6852 |
| Ascent Resources, LLC, Class A <sup>(f)(i)</sup>  | 62978 | 2897 |
| Expand Energy Corp.  | 6708 | 713 |
| Weatherford International  | 9659 | 661 |
| Altera Infrastructure, LP <sup>(f)</sup>  | 9127 | 364 |
| Mesquite Energy, Inc. <sup>(f)(j)</sup>  | 3558 | 202 |
|  |  | 11689 |
| **Consumer discretionary 0.35%** |  |  |
| Aimbridge Topco, LLC <sup>(f)(j)</sup>  | 46955 | 3636 |
| NMG Parent, LLC <sup>(f)(j)</sup>  | 8350 | — <br><sup>(h)</sup><br>|
|  |  | 3636 |
| **Financials 0.03%** |  |  |
| Navient Corp.  | 20000 | 263 |
| **Communication services 0.01%** |  |  |
| iHeartMedia, Inc., Class A <sup>(j)</sup>  | 22639 | 65 |
| DSG TopCo, Inc. <sup>(j)</sup>  | 2108 | 24 |
|  |  | 89 |
| **Materials 0.00%** |  |  |
| Venator Materials PLC <sup>(f)(j)</sup>  | 3232 | — <br><sup>(h)</sup><br>|
| **Total common stocks** (cost: $38,625,000) |  | 65821 |
| Preferred securities 0.16%<br> **Industrials 0.16%**<br>|  |  |
| ACR III LSC Holdings, LLC, Series B, preferred shares <sup>(a)(f)(j)</sup>  | 1022 | 1672 |
| **Total preferred securities** (cost: $1,057,000) |  | 1672 |
| Rights & warrants 0.02%<br> **Communication services 0.01%**<br>|  |  |
| SES SA (CVR) <sup>(j)</sup>  | 8182 | 113 |
| **Energy 0.01%** |  |  |
| Expand Energy Corporation, Class C, warrants, expire 2/9/2026 <sup>(j)</sup>  | 457 | 45 |
| **Total rights & warrants** (cost: $371,000) |  | 158 |

---

American Funds Insurance Series — Page 262 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Short-term securities 4.62%<br> **Money market investments 4.62%**<br>| Shares | Value<br> (000)<br>|
| Capital Group Central Cash Fund 4.17% <sup>(k)(l)</sup>  | 474566 | $47457 |
| **Total short-term securities** (cost: $47,454,000) |  | 47457 |
| **Total investment securities 98.93%** (cost: $986,233,000) |  | 1017033 |
| Other assets less liabilities 1.07% |  | 11030 |
| **Net assets 100.00%** |  | $1028063 |

---

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&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;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 77 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD16,047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $11 |
| 5 Year U.S. Treasury Note Futures | Long | 94 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 6 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (691)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8)<br>|
| 10 Year U.S. Treasury Note Futures | Short | 12 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1350)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 1 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (120)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $9 |

---

Swap contracts

------

**Credit default swaps** 

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.HY.44 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | USD17,610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1403)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1213)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(190)<br>|

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate received<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <sup>(m)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <sup>(n)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.45 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD<br> 34<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(h)</sup><br>|

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 4.62%** | **Short-term securities 4.62%** | **Short-term securities 4.62%** | **Short-term securities 4.62%** | **Short-term securities 4.62%** | **Short-term securities 4.62%** | **Short-term securities 4.62%** | **Short-term securities 4.62%** |
| **Money market investments 4.62%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(k)</sup> <br>| $45641 | &nbsp;&nbsp; $208159 | &nbsp;&nbsp; $206342 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1)<br>| &nbsp;&nbsp; $47457 | &nbsp;&nbsp; $1421 |

---

American Funds Insurance Series — Page 263 of 319

------

**unaudited**

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

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Rotech Healthcare, Inc. <sup>(f)(j)</sup> <br>| 9/26/2013 | $4331 | $14563 | 1.42<br> %<br>|
| Wolfspeed, Inc. 4.00% PIK and 9.875% Cash 6/23/2030 <sup>(d)</sup> <br>| 9/29/2025 | 3055 | 3357 | 0.32 |
| Ascent Resources, LLC, Class A <sup>(f)</sup> <br>| 11/15/2016 | 302 | 2897 | 0.28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) <br> 11.288% 9/13/2029 <sup>(b)(c)</sup> <br>| 9/13/2023 | 994 | 1016 | 0.10 |
| **Total** |  | $8682 | $21833 | 2.12<br> %<br>|

---

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

<sup>(a)</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 $638,187,000, which represented 62.08% of the net assets of the fund. 

<sup>(b)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $38,848,000, which represented 3.78% of the net assets of the fund. 

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

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

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

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

<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.

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

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

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

<sup>(m)</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>(n)</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively. 

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| CAB = Capital Appreciation Bonds |
| CME = CME Group |
| CVR = Contingent Value Rights |
| DAC = Designated Activity Company |
| EUR = Euros |
| GBP = British pounds |
| GO = General Obligation |
| NDR = Norwegian Depositary Receipts |
| PIK = Payment In Kind |
| REIT = Real Estate Investment Trust |
| SOFR = Secured Overnight Financing Rate |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

American Funds Insurance Series — Page 264 of 319

------

**American Funds Mortgage Fund**<sup>®</sup>

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 91.00%<br> **Mortgage-backed obligations 85.59%**<br> **Federal agency mortgage-backed obligations 84.30%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #695412 5.00% 6/1/2033 <sup>(a)</sup>  | USD—<br> <sup>(b)</sup><br>| $— <br><sup>(b)</sup><br>|
| Fannie Mae Pool #AD3566 5.00% 10/1/2035 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #256583 5.00% 12/1/2036 <sup>(a)(c)</sup>  | 27 | 27 |
| Fannie Mae Pool #CB3701 2.50% 5/1/2037 <sup>(a)</sup>  | 92 | 87 |
| Fannie Mae Pool #931768 5.00% 8/1/2039 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #AC0794 5.00% 10/1/2039 <sup>(a)</sup>  | 4 | 5 |
| Fannie Mae Pool #932606 5.00% 2/1/2040 <sup>(a)</sup>  | 2 | 2 |
| Fannie Mae Pool #MA4232 2.00% 1/1/2041 <sup>(a)</sup>  | 123 | 107 |
| Fannie Mae Pool #BQ7816 1.50% 4/1/2041 <sup>(a)</sup>  | 215 | 181 |
| Fannie Mae Pool #BR0986 1.50% 5/1/2041 <sup>(a)</sup>  | 274 | 231 |
| Fannie Mae Pool #AE1248 5.00% 6/1/2041 <sup>(a)</sup>  | 7 | 7 |
| Fannie Mae Pool #MA4387 2.00% 7/1/2041 <sup>(a)</sup>  | 15 | 13 |
| Fannie Mae Pool #MA4388 2.50% 7/1/2041 <sup>(a)</sup>  | 68 | 61 |
| Fannie Mae Pool #MA4447 2.50% 10/1/2041 <sup>(a)</sup>  | 146 | 131 |
| Fannie Mae Pool #FM9117 2.50% 10/1/2041 <sup>(a)</sup>  | 81 | 73 |
| Fannie Mae Pool #AJ1873 4.00% 10/1/2041 <sup>(a)</sup>  | 5 | 5 |
| Fannie Mae Pool #AE1274 5.00% 10/1/2041 <sup>(a)</sup>  | 4 | 4 |
| Fannie Mae Pool #AE1277 5.00% 11/1/2041 <sup>(a)</sup>  | 3 | 3 |
| Fannie Mae Pool #MA4502 2.50% 12/1/2041 <sup>(a)</sup>  | 165 | 147 |
| Fannie Mae Pool #AE1283 5.00% 12/1/2041 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #MA4521 2.50% 1/1/2042 <sup>(a)</sup>  | 207 | 185 |
| Fannie Mae Pool #AE1290 5.00% 2/1/2042 <sup>(a)</sup>  | 4 | 4 |
| Fannie Mae Pool #AT0300 3.50% 3/1/2043 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #AT3954 3.50% 4/1/2043 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #AY1829 3.50% 12/1/2044 <sup>(a)</sup>  | 2 | 2 |
| Fannie Mae Pool #MA5696 7.00% 3/1/2045 <sup>(a)</sup>  | 34 | 36 |
| Fannie Mae Pool #FS3767 2.00% 4/1/2047 <sup>(a)</sup>  | 25 | 21 |
| Fannie Mae Pool #BH3122 4.00% 6/1/2047 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #BJ5015 4.00% 12/1/2047 <sup>(a)</sup>  | 26 | 25 |
| Fannie Mae Pool #BK5232 4.00% 5/1/2048 <sup>(a)</sup>  | 14 | 14 |
| Fannie Mae Pool #BK6840 4.00% 6/1/2048 <sup>(a)</sup>  | 19 | 19 |
| Fannie Mae Pool #BK9743 4.00% 8/1/2048 <sup>(a)</sup>  | 6 | 6 |
| Fannie Mae Pool #BK9761 4.50% 8/1/2048 <sup>(a)</sup>  | 3 | 3 |
| Fannie Mae Pool #CA6409 2.50% 7/1/2050 <sup>(a)</sup>  | 90 | 76 |
| Fannie Mae Pool #FS3745 2.00% 8/1/2050 <sup>(a)</sup>  | 17 | 14 |
| Fannie Mae Pool #CA6987 2.00% 9/1/2050 <sup>(a)</sup>  | 696 | 563 |
| Fannie Mae Pool #CA7052 3.00% 9/1/2050 <sup>(a)</sup>  | 4 | 4 |
| Fannie Mae Pool #BN7466 2.00% 10/1/2050 <sup>(a)</sup>  | 94 | 76 |
| Fannie Mae Pool #BQ3005 2.50% 10/1/2050 <sup>(a)</sup>  | 62 | 53 |
| Fannie Mae Pool #BQ6356 2.00% 11/1/2050 <sup>(a)</sup>  | 34 | 27 |
| Fannie Mae Pool #CA8108 2.00% 12/1/2050 <sup>(a)</sup>  | 127 | 104 |
| Fannie Mae Pool #MA4208 2.00% 12/1/2050 <sup>(a)</sup>  | 11 | 9 |
| Fannie Mae Pool #FS9792 4.50% 12/1/2050 <sup>(a)</sup>  | 22 | 22 |
| Fannie Mae Pool #FM6113 2.50% 1/1/2051 <sup>(a)</sup>  | 1356 | 1152 |
| Fannie Mae Pool #FM5940 2.00% 2/1/2051 <sup>(a)(c)</sup>  | 1459 | 1194 |

---

American Funds Insurance Series — Page 265 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #CA8820 2.00% 2/1/2051 <sup>(a)</sup>  | USD337 | $276 |
| Fannie Mae Pool #FM6332 2.00% 2/1/2051 <sup>(a)</sup>  | 162 | 131 |
| Fannie Mae Pool #MA4305 2.00% 4/1/2051 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #CB0041 3.00% 4/1/2051 <sup>(a)</sup>  | 170 | 153 |
| Fannie Mae Pool #FM7900 2.50% 7/1/2051 <sup>(a)</sup>  | 22 | 19 |
| Fannie Mae Pool #FM8038 3.00% 7/1/2051 <sup>(a)</sup>  | 31 | 27 |
| Fannie Mae Pool #CB1527 2.50% 9/1/2051 <sup>(a)</sup>  | 362 | 308 |
| Fannie Mae Pool #FS1630 2.50% 9/1/2051 <sup>(a)</sup>  | 22 | 19 |
| Fannie Mae Pool #FM9646 2.00% 11/1/2051 <sup>(a)</sup>  | 141 | 114 |
| Fannie Mae Pool #FS0965 2.00% 11/1/2051 <sup>(a)</sup>  | 2 | 2 |
| Fannie Mae Pool #FM9492 2.50% 11/1/2051 <sup>(a)</sup>  | 376 | 323 |
| Fannie Mae Pool #FM9694 2.50% 11/1/2051 <sup>(a)</sup>  | 176 | 152 |
| Fannie Mae Pool #CB2095 3.00% 11/1/2051 <sup>(a)</sup>  | 31 | 27 |
| Fannie Mae Pool #FM9804 2.50% 12/1/2051 <sup>(a)</sup>  | 195 | 168 |
| Fannie Mae Pool #FM9976 3.00% 12/1/2051 <sup>(a)</sup>  | 77 | 69 |
| Fannie Mae Pool #CB2544 3.00% 1/1/2052 <sup>(a)</sup>  | 226 | 202 |
| Fannie Mae Pool #CB3031 2.50% 3/1/2052 <sup>(a)</sup>  | 376 | 319 |
| Fannie Mae Pool #BV9613 3.00% 4/1/2052 <sup>(a)</sup>  | 40 | 35 |
| Fannie Mae Pool #CB3523 3.00% 5/1/2052 <sup>(a)</sup>  | 897 | 791 |
| Fannie Mae Pool #BU8818 3.50% 5/1/2052 <sup>(a)</sup>  | 11 | 10 |
| Fannie Mae Pool #FS7879 2.50% 7/1/2052 <sup>(a)</sup>  | 1659 | 1399 |
| Fannie Mae Pool #FS5851 4.00% 7/1/2052 <sup>(a)</sup>  | 905 | 855 |
| Fannie Mae Pool #CB4360 3.00% 8/1/2052 <sup>(a)</sup>  | 31 | 27 |
| Fannie Mae Pool #FS6362 3.50% 8/1/2052 <sup>(a)</sup>  | 160 | 147 |
| Fannie Mae Pool #CB4620 5.00% 9/1/2052 <sup>(a)</sup>  | 957 | 959 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(a)</sup>  | 677 | 549 |
| Fannie Mae Pool #MA4785 5.00% 10/1/2052 <sup>(a)</sup>  | 95 | 94 |
| Fannie Mae Pool #BW1289 5.50% 10/1/2052 <sup>(a)</sup>  | 35 | 35 |
| Fannie Mae Pool #BW1243 5.50% 10/1/2052 <sup>(a)</sup>  | 31 | 32 |
| Fannie Mae Pool #MA4840 4.50% 12/1/2052 <sup>(a)</sup>  | 419 | 409 |
| Fannie Mae Pool #BX5673 5.00% 12/1/2052 <sup>(a)</sup>  | 96 | 96 |
| Fannie Mae Pool #BY1411 4.00% 2/1/2053 <sup>(a)</sup>  | 1106 | 1045 |
| Fannie Mae Pool #MA4919 5.50% 2/1/2053 <sup>(a)</sup>  | 62 | 62 |
| Fannie Mae Pool #FS3759 6.00% 2/1/2053 <sup>(a)</sup>  | 90 | 94 |
| Fannie Mae Pool #CB5912 6.00% 3/1/2053 <sup>(a)</sup>  | 74 | 76 |
| Fannie Mae Pool #MA4978 5.00% 4/1/2053 <sup>(a)(c)</sup>  | 611 | 609 |
| Fannie Mae Pool #CB6131 6.50% 4/1/2053 <sup>(a)</sup>  | 209 | 220 |
| Fannie Mae Pool #CB6106 6.50% 4/1/2053 <sup>(a)</sup>  | 59 | 62 |
| Fannie Mae Pool #FS4563 5.00% 5/1/2053 <sup>(a)</sup>  | 48 | 48 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(a)</sup>  | 48 | 48 |
| Fannie Mae Pool #MA5011 6.00% 5/1/2053 <sup>(a)</sup>  | 246 | 253 |
| Fannie Mae Pool #MA5062 3.00% 6/1/2053 <sup>(a)</sup>  | 422 | 371 |
| Fannie Mae Pool #FS5192 5.50% 6/1/2053 <sup>(a)</sup>  | 716 | 726 |
| Fannie Mae Pool #MA5040 6.00% 6/1/2053 <sup>(a)</sup>  | 330 | 339 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(a)</sup>  | 194 | 196 |
| Fannie Mae Pool #FS5343 6.00% 7/1/2053 <sup>(a)</sup>  | 401 | 412 |
| Fannie Mae Pool #MA5165 5.50% 10/1/2053 <sup>(a)</sup>  | 819 | 829 |
| Fannie Mae Pool #CB7242 6.50% 10/1/2053 <sup>(a)</sup>  | 39 | 40 |
| Fannie Mae Pool #MA5167 6.50% 10/1/2053 <sup>(a)</sup>  | 12 | 12 |
| Fannie Mae Pool #CB7510 6.50% 11/1/2053 <sup>(a)</sup>  | 284 | 296 |
| Fannie Mae Pool #MA5215 5.50% 12/1/2053 <sup>(a)</sup>  | 76 | 77 |
| Fannie Mae Pool #FS6873 6.50% 1/1/2054 <sup>(a)</sup>  | 426 | 441 |
| Fannie Mae Pool #FS6767 6.50% 1/1/2054 <sup>(a)</sup>  | 206 | 215 |
| Fannie Mae Pool #MA5271 5.50% 2/1/2054 <sup>(a)</sup>  | 1437 | 1452 |

---

American Funds Insurance Series — Page 266 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #FS6809 5.50% 2/1/2054 <sup>(a)</sup>  | USD145 | $146 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(a)</sup>  | 136 | 137 |
| Fannie Mae Pool #FS7653 6.50% 3/1/2054 <sup>(a)</sup>  | 36 | 38 |
| Fannie Mae Pool #DB1235 6.00% 4/1/2054 <sup>(a)</sup>  | 123 | 127 |
| Fannie Mae Pool #CB8387 6.50% 4/1/2054 <sup>(a)</sup>  | 16 | 17 |
| Fannie Mae Pool #DB6878 6.00% 6/1/2054 <sup>(a)</sup>  | 264 | 271 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(a)</sup>  | 231 | 238 |
| Fannie Mae Pool #FS8223 6.00% 6/1/2054 <sup>(a)</sup>  | 43 | 44 |
| Fannie Mae Pool #FS8219 6.00% 6/1/2054 <sup>(a)</sup>  | 37 | 38 |
| Fannie Mae Pool #CB8755 6.00% 6/1/2054 <sup>(a)</sup>  | 21 | 21 |
| Fannie Mae Pool #CB8725 6.50% 6/1/2054 <sup>(a)</sup>  | 272 | 282 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(a)</sup>  | 537 | 552 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(a)</sup>  | 163 | 167 |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(a)</sup>  | 128 | 132 |
| Fannie Mae Pool #BU4707 6.00% 7/1/2054 <sup>(a)</sup>  | 111 | 114 |
| Fannie Mae Pool #FS8318 6.00% 7/1/2054 <sup>(a)</sup>  | 58 | 60 |
| Fannie Mae Pool #DB7039 6.00% 7/1/2054 <sup>(a)</sup>  | 36 | 37 |
| Fannie Mae Pool #MA5421 6.00% 7/1/2054 <sup>(a)</sup>  | 7 | 8 |
| Fannie Mae Pool #FS8619 6.50% 7/1/2054 <sup>(a)</sup>  | 661 | 689 |
| Fannie Mae Pool #CB8872 6.50% 7/1/2054 <sup>(a)</sup>  | 418 | 436 |
| Fannie Mae Pool #FS8607 6.50% 7/1/2054 <sup>(a)</sup>  | 124 | 129 |
| Fannie Mae Pool #CB8876 6.50% 7/1/2054 <sup>(a)</sup>  | 123 | 128 |
| Fannie Mae Pool #FS8317 6.50% 7/1/2054 <sup>(a)</sup>  | 72 | 75 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(a)</sup>  | 218 | 223 |
| Fannie Mae Pool #FS8758 6.00% 8/1/2054 <sup>(a)</sup>  | 188 | 192 |
| Fannie Mae Pool #BU4968 6.00% 8/1/2054 <sup>(a)</sup>  | 139 | 142 |
| Fannie Mae Pool #DB7792 6.00% 8/1/2054 <sup>(a)</sup>  | 73 | 74 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(a)</sup>  | 54 | 55 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(a)</sup>  | 27 | 28 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(a)</sup>  | 27 | 28 |
| Fannie Mae Pool #FS8795 6.00% 8/1/2054 <sup>(a)</sup>  | 25 | 26 |
| Fannie Mae Pool #DB7690 6.00% 8/1/2054 <sup>(a)</sup>  | 18 | 19 |
| Fannie Mae Pool #DB7687 6.00% 8/1/2054 <sup>(a)</sup>  | 18 | 18 |
| Fannie Mae Pool #DC0296 6.00% 8/1/2054 <sup>(a)</sup>  | 9 | 10 |
| Fannie Mae Pool #CB9071 6.50% 8/1/2054 <sup>(a)</sup>  | 153 | 159 |
| Fannie Mae Pool #FS9025 5.50% 9/1/2054 <sup>(a)</sup>  | 495 | 503 |
| Fannie Mae Pool #FS9009 5.50% 9/1/2054 <sup>(a)</sup>  | 265 | 269 |
| Fannie Mae Pool #MA5470 5.50% 9/1/2054 <sup>(a)</sup>  | 209 | 211 |
| Fannie Mae Pool #FS8866 6.00% 9/1/2054 <sup>(a)</sup>  | 445 | 457 |
| Fannie Mae Pool #DC3262 6.00% 9/1/2054 <sup>(a)</sup>  | 2 | 2 |
| Fannie Mae Pool #DC3459 6.00% 9/1/2054 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #MA5497 5.50% 10/1/2054 <sup>(a)</sup>  | 107 | 108 |
| Fannie Mae Pool #MA5498 6.00% 10/1/2054 <sup>(a)</sup>  | 394 | 403 |
| Fannie Mae Pool #BU5166 6.00% 10/1/2054 <sup>(a)</sup>  | 25 | 26 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(a)</sup>  | 57 | 57 |
| Fannie Mae Pool #BU5165 5.50% 11/1/2054 <sup>(a)</sup>  | 48 | 49 |
| Fannie Mae Pool #CB9432 6.00% 11/1/2054 <sup>(a)</sup>  | 42 | 43 |
| Fannie Mae Pool #DC7042 4.50% 12/1/2054 <sup>(a)</sup>  | 186 | 181 |
| Fannie Mae Pool #FA0287 6.00% 12/1/2054 <sup>(a)</sup>  | 535 | 547 |
| Fannie Mae Pool #DC7035 6.00% 12/1/2054 <sup>(a)</sup>  | 42 | 43 |
| Fannie Mae Pool #MA5583 4.00% 1/1/2055 <sup>(a)</sup>  | 133 | 125 |
| Fannie Mae Pool #MA5587 6.00% 1/1/2055 <sup>(a)</sup>  | 220 | 225 |
| Fannie Mae Pool #DD0835 6.00% 1/1/2055 <sup>(a)</sup>  | 39 | 40 |
| Fannie Mae Pool #FA0608 5.50% 2/1/2055 <sup>(a)</sup>  | 567 | 572 |

---

American Funds Insurance Series — Page 267 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(a)</sup>  | USD423 | $432 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(a)</sup>  | 88 | 90 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(a)</sup>  | 276 | 282 |
| Fannie Mae Pool #FA1162 6.00% 4/1/2055 <sup>(a)</sup>  | 2 | 2 |
| Fannie Mae Pool #DD4459 6.00% 4/1/2055 <sup>(a)</sup>  | 2 | 2 |
| Fannie Mae Pool #MA5699 5.00% 5/1/2055 <sup>(a)</sup>  | 294 | 292 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(a)</sup>  | 395 | 404 |
| Fannie Mae Pool #MA5734 5.00% 6/1/2055 <sup>(a)</sup>  | 151 | 149 |
| Fannie Mae Pool #DD9889 6.00% 7/1/2055 <sup>(a)</sup>  | 318 | 325 |
| Fannie Mae Pool #MA5761 6.00% 7/1/2055 <sup>(a)</sup>  | 16 | 16 |
| Fannie Mae Pool #MA5793 6.00% 8/1/2055 <sup>(a)</sup>  | 130 | 133 |
| Fannie Mae Pool #CC0879 6.00% 8/1/2055 <sup>(a)</sup>  | 11 | 11 |
| Fannie Mae Pool #BF0379 3.50% 4/1/2059 <sup>(a)</sup>  | 112 | 102 |
| Fannie Mae Pool #BF0481 3.50% 6/1/2060 <sup>(a)</sup>  | 121 | 110 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060 <sup>(a)</sup>  | 42 | 37 |
| Fannie Mae Pool #BF0585 4.50% 12/1/2061 <sup>(a)</sup>  | 41 | 39 |
| Fannie Mae Pool #BF0765 3.50% 9/1/2063 <sup>(a)</sup>  | 703 | 632 |
| Freddie Mac Pool #ZA1922 5.00% 2/1/2026 <sup>(a)(c)</sup>  | —<br> <sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|
| Freddie Mac Pool #ZS8950 5.00% 10/1/2029 <sup>(a)</sup>  | 1 | 1 |
| Freddie Mac Pool #A18781 5.00% 3/1/2034 <sup>(a)</sup>  | 443 | 447 |
| Freddie Mac Pool #SB0649 2.50% 4/1/2037 <sup>(a)</sup>  | 138 | 130 |
| Freddie Mac Pool #SB1388 2.50% 1/1/2038 <sup>(a)</sup>  | 39 | 37 |
| Freddie Mac Pool #RB5113 1.50% 6/1/2041 <sup>(a)</sup>  | 1426 | 1206 |
| Freddie Mac Pool #RB5115 2.50% 6/1/2041 <sup>(a)</sup>  | 267 | 240 |
| Freddie Mac Pool #RB5145 2.00% 2/1/2042 <sup>(a)</sup>  | 75 | 65 |
| Freddie Mac Pool #Q15874 4.00% 2/1/2043 <sup>(a)</sup>  | 1 | 1 |
| Freddie Mac Pool #760014 4.639% 8/1/2045 <sup>(a)(d)</sup>  | 245 | 245 |
| Freddie Mac Pool #Q47615 3.50% 4/1/2047 <sup>(a)</sup>  | 15 | 14 |
| Freddie Mac Pool #Q52069 3.50% 11/1/2047 <sup>(a)</sup>  | 21 | 20 |
| Freddie Mac Pool #Q55971 4.00% 5/1/2048 <sup>(a)</sup>  | 13 | 13 |
| Freddie Mac Pool #Q56175 4.00% 5/1/2048 <sup>(a)</sup>  | 10 | 9 |
| Freddie Mac Pool #Q55970 4.00% 5/1/2048 <sup>(a)</sup>  | 6 | 6 |
| Freddie Mac Pool #Q56599 4.00% 6/1/2048 <sup>(a)</sup>  | 20 | 19 |
| Freddie Mac Pool #Q58411 4.50% 9/1/2048 <sup>(a)</sup>  | 39 | 39 |
| Freddie Mac Pool #Q58436 4.50% 9/1/2048 <sup>(a)</sup>  | 19 | 19 |
| Freddie Mac Pool #Q58378 4.50% 9/1/2048 <sup>(a)</sup>  | 13 | 12 |
| Freddie Mac Pool #Z40273 4.50% 10/1/2048 <sup>(a)</sup>  | 35 | 34 |
| Freddie Mac Pool #QA2748 3.50% 9/1/2049 <sup>(a)</sup>  | 13 | 13 |
| Freddie Mac Pool #SD7512 3.00% 2/1/2050 <sup>(a)</sup>  | 126 | 113 |
| Freddie Mac Pool #RA3384 3.00% 8/1/2050 <sup>(a)</sup>  | 4 | 3 |
| Freddie Mac Pool #RA3576 2.00% 9/1/2050 <sup>(a)</sup>  | 665 | 538 |
| Freddie Mac Pool #SI2062 2.00% 9/1/2050 <sup>(a)</sup>  | 166 | 136 |
| Freddie Mac Pool #RA3987 2.50% 11/1/2050 <sup>(a)</sup>  | 175 | 149 |
| Freddie Mac Pool #RA4352 2.00% 1/1/2051 <sup>(a)</sup>  | 293 | 239 |
| Freddie Mac Pool #SD8128 2.00% 2/1/2051 <sup>(a)</sup>  | 2 | 1 |
| Freddie Mac Pool #SD8134 2.00% 3/1/2051 <sup>(a)</sup>  | 3 | 2 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051 <sup>(a)</sup>  | 274 | 225 |
| Freddie Mac Pool #QC7626 3.00% 9/1/2051 <sup>(a)</sup>  | 205 | 182 |
| Freddie Mac Pool #QC8778 2.50% 10/1/2051 <sup>(a)</sup>  | 995 | 839 |
| Freddie Mac Pool #RA6406 2.00% 11/1/2051 <sup>(a)</sup>  | 66 | 54 |
| Freddie Mac Pool #SD1385 2.50% 11/1/2051 <sup>(a)</sup>  | 55 | 47 |
| Freddie Mac Pool #QD3619 2.50% 12/1/2051 <sup>(a)</sup>  | 695 | 587 |
| Freddie Mac Pool #RA6598 3.50% 1/1/2052 <sup>(a)</sup>  | 132 | 122 |
| Freddie Mac Pool #QD6327 3.00% 2/1/2052 <sup>(a)</sup>  | 480 | 423 |

---

American Funds Insurance Series — Page 268 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SD0873 3.50% 2/1/2052 <sup>(a)(c)</sup>  | USD640 | $596 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052 <sup>(a)</sup>  | 6 | 6 |
| Freddie Mac Pool #RA6973 2.00% 3/1/2052 <sup>(a)</sup>  | 676 | 547 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(a)</sup>  | 1332 | 1174 |
| Freddie Mac Pool #QE4001 3.00% 5/1/2052 <sup>(a)</sup>  | 42 | 37 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052 <sup>(a)</sup>  | 652 | 574 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(a)</sup>  | 1229 | 1081 |
| Freddie Mac Pool #SD1406 2.00% 8/1/2052 <sup>(a)</sup>  | 122 | 99 |
| Freddie Mac Pool #SL0761 3.50% 9/1/2052 <sup>(a)</sup>  | 854 | 786 |
| Freddie Mac Pool #QF0213 4.50% 9/1/2052 <sup>(a)</sup>  | 185 | 181 |
| Freddie Mac Pool #RA7938 5.00% 9/1/2052 <sup>(a)</sup>  | 551 | 550 |
| Freddie Mac Pool #QF0924 5.50% 9/1/2052 <sup>(a)</sup>  | 204 | 207 |
| Freddie Mac Pool #SD8258 5.00% 10/1/2052 <sup>(a)</sup>  | 220 | 220 |
| Freddie Mac Pool #RA8059 5.50% 10/1/2052 <sup>(a)</sup>  | 95 | 97 |
| Freddie Mac Pool #SD1895 4.50% 11/1/2052 <sup>(a)</sup>  | 312 | 311 |
| Freddie Mac Pool #SD8280 6.50% 11/1/2052 <sup>(a)</sup>  | 665 | 691 |
| Freddie Mac Pool #SD2602 3.00% 12/1/2052 <sup>(a)</sup>  | 29 | 25 |
| Freddie Mac Pool #SD8288 5.00% 1/1/2053 <sup>(a)</sup>  | 38 | 38 |
| Freddie Mac Pool #SD8315 5.00% 4/1/2053 <sup>(a)</sup>  | 109 | 108 |
| Freddie Mac Pool #SD2716 5.00% 4/1/2053 <sup>(a)</sup>  | 74 | 74 |
| Freddie Mac Pool #SD8316 5.50% 4/1/2053 <sup>(a)</sup>  | 84 | 85 |
| Freddie Mac Pool #SD8323 5.00% 5/1/2053 <sup>(a)</sup>  | 1054 | 1048 |
| Freddie Mac Pool #SD2861 6.00% 5/1/2053 <sup>(a)</sup>  | 48 | 49 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(a)</sup>  | 267 | 270 |
| Freddie Mac Pool #RA9279 6.00% 6/1/2053 <sup>(a)</sup>  | 55 | 57 |
| Freddie Mac Pool #RA9283 6.00% 6/1/2053 <sup>(a)</sup>  | 48 | 50 |
| Freddie Mac Pool #RA9281 6.00% 6/1/2053 <sup>(a)</sup>  | 33 | 34 |
| Freddie Mac Pool #RA9284 6.00% 6/1/2053 <sup>(a)</sup>  | 27 | 28 |
| Freddie Mac Pool #SD8341 5.00% 7/1/2053 <sup>(a)</sup>  | 2 | 2 |
| Freddie Mac Pool #SD8342 5.50% 7/1/2053 <sup>(a)</sup>  | 780 | 789 |
| Freddie Mac Pool #SD3386 5.50% 7/1/2053 <sup>(a)</sup>  | 48 | 49 |
| Freddie Mac Pool #SD3432 6.00% 7/1/2053 <sup>(a)</sup>  | 34 | 35 |
| Freddie Mac Pool #SD8350 6.00% 8/1/2053 <sup>(a)(c)</sup>  | 2464 | 2525 |
| Freddie Mac Pool #RA9857 6.00% 9/1/2053 <sup>(a)</sup>  | 898 | 921 |
| Freddie Mac Pool #RA9854 6.00% 9/1/2053 <sup>(a)</sup>  | 109 | 112 |
| Freddie Mac Pool #SD8368 6.00% 10/1/2053 <sup>(a)</sup>  | 407 | 417 |
| Freddie Mac Pool #SD4053 6.00% 10/1/2053 <sup>(a)</sup>  | 304 | 312 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(a)</sup>  | 68 | 70 |
| Freddie Mac Pool #SD8395 5.50% 1/1/2054 <sup>(a)</sup>  | 421 | 426 |
| Freddie Mac Pool #RJ0668 6.00% 1/1/2054 <sup>(a)</sup>  | 1580 | 1621 |
| Freddie Mac Pool #SD4795 6.00% 1/1/2054 <sup>(a)</sup>  | 1260 | 1294 |
| Freddie Mac Pool #SD4693 6.50% 1/1/2054 <sup>(a)</sup>  | 49 | 51 |
| Freddie Mac Pool #RJ0854 6.50% 1/1/2054 <sup>(a)</sup>  | 10 | 10 |
| Freddie Mac Pool #QI0006 6.00% 2/1/2054 <sup>(a)</sup>  | 49 | 50 |
| Freddie Mac Pool #RJ1216 5.50% 4/1/2054 <sup>(a)</sup>  | 62 | 63 |
| Freddie Mac Pool #RJ1215 5.50% 4/1/2054 <sup>(a)</sup>  | 13 | 13 |
| Freddie Mac Pool #QI2895 6.00% 4/1/2054 <sup>(a)</sup>  | 100 | 103 |
| Freddie Mac Pool #QI3333 6.00% 4/1/2054 <sup>(a)</sup>  | 19 | 19 |
| Freddie Mac Pool #SD5221 6.50% 4/1/2054 <sup>(a)</sup>  | 53 | 55 |
| Freddie Mac Pool #RJ1448 5.50% 5/1/2054 <sup>(a)</sup>  | 62 | 62 |
| Freddie Mac Pool #SD5692 6.00% 5/1/2054 <sup>(a)</sup>  | 25 | 26 |
| Freddie Mac Pool #SD8432 6.00% 5/1/2054 <sup>(a)</sup>  | 8 | 8 |
| Freddie Mac Pool #SD5404 6.50% 5/1/2054 <sup>(a)</sup>  | 415 | 431 |
| Freddie Mac Pool #RJ1447 6.50% 5/1/2054 <sup>(a)</sup>  | 61 | 64 |

---

American Funds Insurance Series — Page 269 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SD5706 6.50% 6/1/2054 <sup>(a)</sup>  | USD642 | $667 |
| Freddie Mac Pool #RJ1726 6.50% 6/1/2054 <sup>(a)</sup>  | 208 | 216 |
| Freddie Mac Pool #SD5701 6.50% 6/1/2054 <sup>(a)</sup>  | 48 | 50 |
| Freddie Mac Pool #RJ1725 6.50% 6/1/2054 <sup>(a)</sup>  | 15 | 16 |
| Freddie Mac Pool #QI8874 6.00% 7/1/2054 <sup>(a)</sup>  | 221 | 226 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(a)</sup>  | 197 | 202 |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(a)</sup>  | 175 | 181 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(a)</sup>  | 70 | 71 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(a)</sup>  | 62 | 64 |
| Freddie Mac Pool #SD5896 6.00% 7/1/2054 <sup>(a)</sup>  | 32 | 33 |
| Freddie Mac Pool #SD8448 6.50% 7/1/2054 <sup>(a)</sup>  | 685 | 708 |
| Freddie Mac Pool #RJ1986 6.50% 7/1/2054 <sup>(a)</sup>  | 189 | 196 |
| Freddie Mac Pool #SD5905 6.50% 7/1/2054 <sup>(a)</sup>  | 69 | 72 |
| Freddie Mac Pool #SD6286 5.50% 8/1/2054 <sup>(a)</sup>  | 284 | 289 |
| Freddie Mac Pool #RJ2210 6.00% 8/1/2054 <sup>(a)</sup>  | 247 | 253 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(a)</sup>  | 166 | 169 |
| Freddie Mac Pool #RJ2216 6.00% 8/1/2054 <sup>(a)</sup>  | 135 | 139 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(a)</sup>  | 36 | 37 |
| Freddie Mac Pool #QJ3296 6.00% 8/1/2054 <sup>(a)</sup>  | 1 | 1 |
| Freddie Mac Pool #SD6323 6.50% 8/1/2054 <sup>(a)</sup>  | 1522 | 1577 |
| Freddie Mac Pool #SD8455 6.50% 8/1/2054 <sup>(a)</sup>  | 354 | 366 |
| Freddie Mac Pool #RJ2222 6.50% 8/1/2054 <sup>(a)</sup>  | 236 | 246 |
| Freddie Mac Pool #SD6034 6.50% 8/1/2054 <sup>(a)</sup>  | 108 | 112 |
| Freddie Mac Pool #RJ2247 6.50% 8/1/2054 <sup>(a)</sup>  | 96 | 100 |
| Freddie Mac Pool #RJ2228 6.50% 8/1/2054 <sup>(a)</sup>  | 57 | 59 |
| Freddie Mac Pool #SD6047 6.50% 8/1/2054 <sup>(a)</sup>  | 40 | 42 |
| Freddie Mac Pool #SD6035 6.50% 8/1/2054 <sup>(a)</sup>  | 27 | 28 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(a)</sup>  | 208 | 210 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(a)</sup>  | 121 | 124 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(a)</sup>  | 64 | 66 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(a)</sup>  | 62 | 64 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(a)</sup>  | 56 | 58 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(a)</sup>  | 35 | 36 |
| Freddie Mac Pool #SD8463 6.00% 9/1/2054 <sup>(a)</sup>  | 16 | 16 |
| Freddie Mac Pool #RJ2320 6.50% 9/1/2054 <sup>(a)</sup>  | 35 | 37 |
| Freddie Mac Pool #RJ2325 6.50% 9/1/2054 <sup>(a)</sup>  | 19 | 20 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(a)</sup>  | 9 | 9 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(a)</sup>  | 460 | 464 |
| Freddie Mac Pool #RJ3163 5.00% 12/1/2054 <sup>(a)</sup>  | 514 | 512 |
| Freddie Mac Pool #QX1414 5.50% 12/1/2054 <sup>(a)</sup>  | 376 | 380 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(a)</sup>  | 7 | 7 |
| Freddie Mac Pool #SD8496 6.00% 1/1/2055 <sup>(a)</sup>  | 1230 | 1258 |
| Freddie Mac Pool #QX4065 6.00% 1/1/2055 <sup>(a)</sup>  | 26 | 27 |
| Freddie Mac Pool #RJ3264 4.50% 2/1/2055 <sup>(a)</sup>  | 273 | 265 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(a)</sup>  | 809 | 828 |
| Freddie Mac Pool #SL0797 6.00% 2/1/2055 <sup>(a)</sup>  | 62 | 64 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(a)</sup>  | 17 | 18 |
| Freddie Mac Pool #SD8517 6.50% 3/1/2055 <sup>(a)</sup>  | 911 | 942 |
| Freddie Mac Pool #SL1094 5.00% 4/1/2055 <sup>(a)</sup>  | 127 | 126 |
| Freddie Mac Pool #SL0796 6.00% 4/1/2055 <sup>(a)</sup>  | 76 | 77 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(a)</sup>  | 44 | 45 |
| Freddie Mac Pool #SD8532 5.00% 5/1/2055 <sup>(a)</sup>  | 270 | 268 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(a)</sup>  | 18 | 18 |
| Freddie Mac Pool #SL1138 6.00% 5/1/2055 <sup>(a)</sup>  | 15 | 15 |

---

American Funds Insurance Series — Page 270 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SL1137 6.00% 5/1/2055 <sup>(a)</sup>  | USD15 | $15 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(a)</sup>  | 90 | 89 |
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(a)</sup>  | 412 | 416 |
| Freddie Mac Pool #QY6303 6.00% 6/1/2055 <sup>(a)(c)</sup>  | 2211 | 2261 |
| Freddie Mac Pool #RQ0027 5.50% 7/1/2055 <sup>(a)</sup>  | 447 | 451 |
| Freddie Mac Pool #RQ0028 6.00% 7/1/2055 <sup>(a)</sup>  | 1618 | 1654 |
| Freddie Mac Pool #QY7483 6.00% 7/1/2055 <sup>(a)</sup>  | 1488 | 1523 |
| Freddie Mac Pool #RQ0041 6.00% 8/1/2055 <sup>(a)</sup>  | 15 | 15 |
| Freddie Mac, Series K751, Class A2, Multi Family, 4.412% 3/25/2030 <sup>(a)</sup>  | 300 | 304 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056 <sup>(a)</sup>  | 76 | 72 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HT, 3.25% 7/25/2056 <sup>(a)</sup>  | 78 | 69 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056 <sup>(a)</sup>  | 148 | 140 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056 <sup>(a)(d)</sup>  | 103 | 97 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-1, Class HT, 3.00% 5/25/2057 <sup>(a)</sup>  | 20 | 17 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057 <sup>(a)(d)</sup>  | 78 | 76 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MT, 3.50% 8/25/2058 <sup>(a)</sup>  | 25 | 23 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 10/25/2058 <sup>(a)</sup>  | 15 | 13 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2024-2, Class MT, 3.50% 5/25/2064 <sup>(a)</sup>  | 622 | 545 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-1, Class A1, 3.50% 6/25/2028 <sup>(a)</sup>  | 182 | 178 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028 <sup>(a)</sup>  | 10 | 10 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 20-2, Class AC, 2.00% 9/25/2030 <sup>(a)</sup>  | 295 | 268 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 20-3, Class AC, 2.00% 11/25/2030 <sup>(a)</sup>  | 283 | 255 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 21-1, Class AC, 2.25% 5/26/2031 <sup>(a)</sup>  | 287 | 262 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 21-2, Class AD, 2.00% 7/25/2031 <sup>(a)</sup>  | 246 | 221 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2022-1, Class A1, 3.50% 5/25/2032 <sup>(a)</sup>  | 246 | 238 |
| Government National Mortgage Assn. 3.50% 10/1/2055 <sup>(a)(e)</sup>  | 295 | 269 |
| Government National Mortgage Assn. 5.00% 10/1/2055 <sup>(a)(e)</sup>  | 80 | 80 |
| Government National Mortgage Assn. Pool #AH5894 3.75% 5/20/2034 <sup>(a)</sup>  | 545 | 533 |
| Government National Mortgage Assn. Pool #783690 6.00% 9/20/2039 <sup>(a)</sup>  | 62 | 65 |
| Government National Mortgage Assn. Pool #005104 5.00% 6/20/2041 <sup>(a)</sup>  | 152 | 154 |
| Government National Mortgage Assn. Pool #005142 4.50% 8/20/2041 <sup>(a)</sup>  | 11 | 10 |
| Government National Mortgage Assn. Pool #005165 6.50% 8/20/2041 <sup>(a)</sup>  | 77 | 77 |
| Government National Mortgage Assn. Pool #AA5326 3.50% 5/20/2042 <sup>(a)</sup>  | 76 | 68 |
| Government National Mortgage Assn. Pool #MA0366 3.50% 6/20/2042 <sup>(a)</sup>  | 178 | 164 |
| Government National Mortgage Assn. Pool #AD4360 3.50% 7/20/2043 <sup>(a)</sup>  | 38 | 35 |
| Government National Mortgage Assn. Pool #AH5884 4.25% 7/20/2044 <sup>(a)(c)</sup>  | 765 | 734 |
| Government National Mortgage Assn. Pool #MA6994 2.00% 11/20/2050 <sup>(a)</sup>  | 81 | 67 |
| Government National Mortgage Assn. Pool #BZ3978 2.50% 11/20/2050 <sup>(a)</sup>  | 34 | 29 |
| Government National Mortgage Assn. Pool #MA7051 2.00% 12/20/2050 <sup>(a)</sup>  | 72 | 60 |
| Government National Mortgage Assn. Pool #785575 2.50% 8/20/2051 <sup>(a)</sup>  | 310 | 264 |
| Government National Mortgage Assn. Pool #785659 2.50% 10/20/2051 <sup>(a)</sup>  | 74 | 63 |
| Government National Mortgage Assn. Pool #786706 2.50% 12/20/2051 <sup>(a)</sup>  | 483 | 412 |
| Government National Mortgage Assn. Pool #786502 2.50% 2/20/2052 <sup>(a)</sup>  | 303 | 261 |
| Government National Mortgage Assn. Pool #MA7881 2.50% 2/20/2052 <sup>(a)</sup>  | 66 | 57 |
| Government National Mortgage Assn. Pool #786647 2.50% 3/20/2052 <sup>(a)</sup>  | 158 | 136 |
| Government National Mortgage Assn. Pool #786701 2.50% 3/20/2052 <sup>(a)</sup>  | 130 | 112 |
| Government National Mortgage Assn. Pool #MA7936 2.50% 3/20/2052 <sup>(a)</sup>  | 41 | 35 |
| Government National Mortgage Assn. Pool #MA7937 3.00% 3/20/2052 <sup>(a)</sup>  | 48 | 43 |
| Government National Mortgage Assn. Pool #MA7987 2.50% 4/20/2052 <sup>(a)</sup>  | 212 | 182 |
| Government National Mortgage Assn. Pool #MA7988 3.00% 4/20/2052 <sup>(a)</sup>  | 57 | 51 |
| Government National Mortgage Assn. Pool #MA8266 3.50% 9/20/2052 <sup>(a)</sup>  | 4 | 4 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052 <sup>(a)</sup>  | 149 | 141 |
| Government National Mortgage Assn. Pool #MA9016 5.00% 7/20/2053 <sup>(a)</sup>  | 13 | 13 |
| Government National Mortgage Assn. Pool #MA9776 4.00% 7/20/2054 <sup>(a)</sup>  | 78 | 74 |

---

American Funds Insurance Series — Page 271 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Government National Mortgage Assn. Pool #MB0205 5.50% 2/20/2055 <sup>(a)</sup>  | USD222 | $224 |
| Government National Mortgage Assn. Pool #MB0485 5.50% 7/20/2055 <sup>(a)</sup>  | 49 | 50 |
| Government National Mortgage Assn. Pool #AN1825 4.53% 6/20/2065 <sup>(a)</sup>  | 16 | 16 |
| Government National Mortgage Assn. Pool #AO0461 4.582% 8/20/2065 <sup>(a)</sup>  | 4 | 4 |
| Government National Mortgage Assn. Pool #AO0409 4.441% 12/20/2065 <sup>(a)</sup>  | 9 | 9 |
| Government National Mortgage Assn. Pool #AO0385 4.349% 1/20/2066 <sup>(a)</sup>  | 64 | 64 |
| Government National Mortgage Assn. Pool #725897 5.20% 1/20/2066 <sup>(a)</sup>  | 1 | 1 |
| Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/2063 <sup>(a)</sup>  | 203 | 151 |
| Uniform Mortgage-Backed Security 4.00% 10/1/2040 <sup>(a)(e)</sup>  | 125 | 123 |
| Uniform Mortgage-Backed Security 2.50% 10/1/2055 <sup>(a)(e)</sup>  | 1992 | 1678 |
| Uniform Mortgage-Backed Security 3.50% 10/1/2055 <sup>(a)(e)</sup>  | 1604 | 1465 |
| Uniform Mortgage-Backed Security 5.50% 10/1/2055 <sup>(a)(e)</sup>  | 411 | 414 |
| Uniform Mortgage-Backed Security 6.00% 10/1/2055 <sup>(a)(e)</sup>  | 7443 | 7605 |
| Uniform Mortgage-Backed Security 6.50% 10/1/2055 <sup>(a)(e)</sup>  | 2142 | 2214 |
| Uniform Mortgage-Backed Security 7.00% 10/1/2055 <sup>(a)(e)</sup>  | 822 | 860 |
| Uniform Mortgage-Backed Security 2.50% 11/1/2055 <sup>(a)(e)</sup>  | 762 | 642 |
| Uniform Mortgage-Backed Security 5.50% 11/1/2055 <sup>(a)(e)</sup>  | 186 | 188 |
| Uniform Mortgage-Backed Security 6.50% 11/1/2055 <sup>(a)(e)</sup>  | 3856 | 3988 |
|  |  | 102106 |
| **Commercial mortgage-backed securities 0.71%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, Series 2022-CSMO, Class A, (1-month USD CME Term SOFR + 2.115%) 6.265% <br> 6/15/2027 <sup>(a)(d)(f)</sup>  | 100 | 101 |
| BX Trust, Series 2022-IND, Class A, (1-month USD CME Term SOFR + 1.491%) 5.641% 4/15/2037 <sup>(a)(d)(f)</sup>  | 84 | 83 |
| BX Trust, Series 2025-GW, Class A, (1-month USD CME Term SOFR + 1.60%) 5.75% 7/15/2042 <sup>(a)(d)(f)</sup>  | 200 | 201 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(a)(d)(f)</sup>  | 379 | 391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extended Stay America Trust, Series 2021-ESH, Class A, (1-month USD CME Term SOFR + 1.194%) 5.345% <br> 7/15/2038 <sup>(a)(d)(f)</sup>  | 84 | 84 |
|  |  | 860 |
| **Collateralized mortgage-backed obligations (privately originated) 0.58%** |  |  |
| CIM Trust, Series 2022-R2, Class A1, 3.75% 12/25/2061 <sup>(a)(d)(f)</sup>  | 132 | 126 |
| COLT Mortgage Loan Trust, Series 2021-5, Class A1, 1.726% 11/26/2066 <sup>(a)(d)(f)</sup>  | 54 | 49 |
| FARM Mortgage Trust, Series 2024-1, Class A, 4.694% 10/1/2053 <sup>(a)(d)(f)</sup>  | 179 | 175 |
| Farmer Mac Agricultural Real Estate Trust, Series 2024-2, Class A1, 5.195% 8/1/2054 <sup>(a)(d)(f)</sup>  | 83 | 83 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-INV2, Class A1, 6.50% 2/25/2054 <sup>(a)(d)(f)</sup>  | 171 | 174 |
| PMT Loan Trust, Series 2024-INV1, Class A2, 6.00% 10/25/2059 <sup>(a)(d)(f)</sup>  | 92 | 93 |
|  |  | 700 |
| **Total mortgage-backed obligations** |  | 103666 |
| **U.S. Treasury bonds & notes 4.24%**<br> **U.S. Treasury 4.24%**<br>|  |  |
| U.S. Treasury 4.375% 7/31/2026  | 535 | 538 |
| U.S. Treasury 4.25% 2/15/2028  | 460 | 466 |
| U.S. Treasury 3.875% 3/15/2028  | 550 | 553 |
| U.S. Treasury 4.125% 7/31/2028  | 450 | 456 |
| U.S. Treasury 4.50% 5/31/2029  | 1025 | 1054 |
| U.S. Treasury 4.00% 2/28/2030  | 330 | 334 |
| U.S. Treasury 4.00% 3/31/2030  | 100 | 101 |
| U.S. Treasury 4.00% 6/30/2032  | 300 | 302 |
| U.S. Treasury 1.875% 2/15/2041 <sup>(c)</sup>  | 240 | 169 |
| U.S. Treasury 3.25% 5/15/2042  | 106 | 89 |
| U.S. Treasury 4.75% 2/15/2045  | 190 | 191 |

---

American Funds Insurance Series — Page 272 of 319

------

**unaudited**

---

| | | | |
|:---|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. Treasury bonds & notes (continued)**<br> **U.S. Treasury (continued)**<br>|  | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| U.S. Treasury 1.875% 11/15/2051  | U.S. Treasury 1.875% 11/15/2051  | USD65 | $37 |
| U.S. Treasury 4.625% 2/15/2055  | U.S. Treasury 4.625% 2/15/2055  | 345 | 339 |
| U.S. Treasury 4.75% 8/15/2055  | U.S. Treasury 4.75% 8/15/2055  | 505 | 507 |
| **Total U.S. Treasury bonds & notes** |  |  | 5136 |
| **Asset-backed obligations 1.17%**<br> **Auto loan 0.79%**<br>|  |  |  |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class A, 5.76% 11/12/2027 <sup>(a)(f)</sup> <br>|  | 5 | 5 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class A, 4.81% 3/13/2028 <sup>(a)(f)</sup> <br>|  | 3 | 3 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class A2, 4.84% 9/15/2027 <sup>(a)</sup> <br>|  | 3 | 3 |
| CPS Auto Receivables Trust, Series 2024-D, Class A, 4.91% 6/15/2028 <sup>(a)(f)</sup> <br>|  | 37 | 37 |
| Drive Auto Receivables Trust, Series 2024-2, Class A2, 4.94% 12/15/2027 <sup>(a)</sup> <br>|  | 7 | 7 |
| Drive Auto Receivables Trust, Series 2024-2, Class A3, 4.50% 9/15/2028 <sup>(a)</sup> <br>|  | 21 | 21 |
| Ford Credit Auto Owner Trust, Series 2023-2, Class A, 5.28% 2/15/2036 <sup>(a)(f)</sup> <br>|  | 257 | 265 |
| GLS Auto Receivables Trust, Series 2024-3A, Class A2, 5.35% 8/16/2027 <sup>(a)(f)</sup> <br>|  | 8 | 8 |
| GLS Auto Receivables Trust, Series 2024-4A, Class A2, 4.76% 10/15/2027 <sup>(a)(f)</sup> <br>|  | 8 | 8 |
| GLS Auto Receivables Trust, Series 2024-3A, Class A3, 5.02% 4/17/2028 <sup>(a)(f)</sup> <br>|  | 45 | 45 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class A2, 5.41% 7/15/2027 <sup>(a)</sup> <br>|  | 4 | 4 |
| Santander Drive Auto Receivables Trust, Series 2024-5, Class A2, 4.88% 9/15/2027 <sup>(a)</sup> <br>|  | 6 | 6 |
| Santander Drive Auto Receivables Trust, Series 2022-4, Class B, 4.42% 11/15/2027 <sup>(a)</sup> <br>|  | 1 | 1 |
| Santander Drive Auto Receivables Trust, Series 2023-1, Class B, 4.98% 2/15/2028 <sup>(a)</sup> <br>|  |  | 0 <br><sup>(b)</sup><br>|
| Santander Drive Auto Receivables Trust, Series 2023-4, Class A3, 5.73% 4/17/2028 <sup>(a)</sup> <br>|  | 2 | 2 |
| Toyota Auto Loan Extended Note Trust, Series 2023-1, Class A, 4.93% 6/25/2036 <sup>(a)(f)</sup> <br>|  | 100 | 103 |
| Wheels Fleet Lease Funding, LLC, Series 24-2A, Class A1, 4.87% 6/21/2039 <sup>(a)(f)</sup> <br>|  | 432 | 436 |
|  |  |  | 954 |
| **Student loan 0.24%** |  |  |  |
| Navient Student Loan Trust, Series 2021-A, Class A, 0.84% 5/15/2069 <sup>(a)(f)</sup> <br>|  | 62 | 57 |
| Navient Student Loan Trust, Series 2021-CA, Class A, 1.06% 10/15/2069 <sup>(a)(f)</sup> <br>|  | 81 | 74 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062 <sup>(a)(f)</sup> <br>|  | 93 | 88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nelnet Student Loan Trust, Series 2021-CA, Class AFL, (1-month USD CME Term SOFR + 0.854%) <br> 4.99% 4/20/2062 <sup>(a)(d)(f)</sup> <br>|  | 78 | 77 |
|  |  |  | 296 |
| **Other asset-backed securities 0.14%** |  |  |  |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060 <sup>(a)(f)</sup> <br>|  | 90 | 77 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(a)(f)</sup> <br>|  | 100 | 84 |
| Synchrony Card Issuance Trust, Series 2023-A, Class A, 5.54% 7/15/2029 <sup>(a)</sup> <br>|  | 12 | 12 |
|  |  |  | 173 |
| **Total asset-backed obligations** |  |  | 14231423 |
| **Total bonds, notes & other debt instruments** (cost: $110,044,000) |  |  | 110225 |
| Short-term securities 23.84%<br> **Commercial paper 18.10%**<br>| Weighted<br> average yield<br> at acquisition<br>|  |  |
| Apple, Inc. 11/17/2025 <sup>(f)</sup> <br>| 4.000<br> %<br>| 2500 | 2487 |
| Cabot Trail Funding, LLC. 10/1/2025 <sup>(f)</sup> <br>| 4.080 | 2500 | 2500 |
| Chariot Funding, LLC 10/16/2025 <sup>(f)</sup> <br>| 4.320 | 2500 | 2495 |
| CHARTA, LLC 11/18/2025 <sup>(f)</sup> <br>| 4.220 | 1000 | 994 |
| CHARTA, LLC 12/12/2025 <sup>(f)</sup> <br>| 4.220 | 1000 | 992 |
| CRC Funding, LLC 12/12/2025 <sup>(f)</sup> <br>| 4.160 | 500 | 496 |
| Komatsu Finance America, Inc. 11/3/2025 <sup>(f)</sup> <br>| 4.260 | 2000 | 1992 |

---

American Funds Insurance Series — Page 273 of 319

------

**unaudited**

---

| | | | |
|:---|:---|:---|:---|
| Short-term securities (continued)<br> **Commercial paper (continued)**<br>| Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Linde, Inc. 12/1/2025  | 4.030<br> %<br>| USD2,500 | $2483 |
| Nestle Finance International, Ltd. 10/17/2025 <sup>(f)</sup> <br>| 4.300 | 1400 | 1397 |
| Paccar Financial Corp. 10/3/2025  | 4.290 | 2400 | 2399 |
| Procter & Gamble Co. 12/9/2025 <sup>(f)</sup> <br>| 4.000 | 1200 | 1191 |
| Wal-Mart Stores, Inc. 10/8/2025 <sup>(f)</sup> <br>| 4.090 | 2500 | 2498 |
|  |  |  | 21924 |
| **Federal agency bills & notes 5.00%** |  |  |  |
| Federal Home Loan Bank 10/29/2025  | 4.140 | 1500 | 1496 |
| Federal Home Loan Bank 11/14/2025  | 4.140 | 900 | 896 |
| Federal Home Loan Bank 12/5/2025  | 3.950 | 1000 | 993 |
| Federal Home Loan Bank 12/12/2025  | 3.944 | 1700 | 1687 |
| Federal Home Loan Bank 1/9/2026  | 3.810 | 1000 | 989 |
|  |  |  | 6061 |
| **U.S. Treasury bills 0.74%** |  |  |  |
| U.S. Treasury 11/6/2025  | 4.021 | 900 | 896 |
| **Total short-term securities** (cost: $28,881,000) |  |  | 28881 |
| Options purchased (equity style) 0.00% |  |  |  |
| Options purchased (equity style)\* |  |  | 1 |
| **Total investment securities 114.84%** (cost: $138,925,000) |  |  | 139107 |
| **Other assets less liabilities (14.84)%** |  |  | (17981)<br>|
| **Net assets 100.00%** |  |  | $121126 |

---

<sup>\*</sup>Options purchased (equity style)

------

**Options on futures** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| 3 Month SOFR Futures Option | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD95.69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD30,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1 |

---

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 3 Month SOFR Futures | Long | 2 | 9/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 309 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 |
| 5 Year U.S. Treasury Note Futures | Long | 137 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| 10 Year Ultra U.S. Treasury Note Futures | Long | 31 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 |
| 10 Year U.S. Treasury Note Futures | Short | 18 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2025)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |

---

American Funds Insurance Series — Page 274 of 319

------

**unaudited**

Futures contracts (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp; Value and<br> unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 20 Year U.S. Treasury Note Futures | Long | 19 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD2,215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $34 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 18 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $125 |

---

Swap contracts

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| SOFR | Annual | 3.6025% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1/8/2034 | USD495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1)<br>|
| SOFR | Annual | 3.8215% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4/23/2035 | 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| SOFR | Annual | 3.41% | Annual | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7/28/2045 | 1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $97 |

---

&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> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $930,000, which represented 0.77% of the net assets of the fund. 

<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> Represents securities transacted on a TBA basis.

<sup>(f)</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 $19,969,000, which represented 16.49% of the net assets of the fund. 

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| Assn. = Association |
| CME = CME Group |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |

---

American Funds Insurance Series — Page 275 of 319

------

**Ultra-Short Bond Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | | |
|:---|:---|:---|:---|
| Short-term securities 99.96%<br> **Commercial paper 83.05%**<br>| Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Alberta (Province of) 10/20/2025 <sup>(a)</sup> <br>| 0.611<br> %<br>| USD10,000 | $9977 |
| ANZ (Delaware), Inc. 11/18/2025 <sup>(a)</sup> <br>| 0.927 | 6250 | 6215 |
| Apple, Inc. 11/17/2025 <sup>(a)</sup> <br>| 0.546 | 7000 | 6962 |
| Atlantic Industries 10/17/2025 <sup>(a)</sup> <br>| 0.327 | 11000 | 10979 |
| BNG Bank NV 10/8/2025 <sup>(a)</sup> <br>| 0.233 | 5800 | 5795 |
| Cabot Trail Funding, LLC. 10/6/2025 <sup>(a)</sup> <br>| 1.068 | 10700 | 10693 |
| Caisse d'Amortissement de la Dette Sociale 10/17/2025  | 1.052 | 9100 | 9082 |
| DBS Bank, Ltd. 1/23/2026 <sup>(a)</sup> <br>| 1.044 | 11500 | 11354 |
| Desjardins Group 12/19/2025 <sup>(a)</sup> <br>| 0.801 | 10000 | 9910 |
| Essilor International 11/17/2025 <sup>(a)</sup> <br>| 0.836 | 7000 | 6962 |
| Export Development Canada 11/4/2025  | 1.149 | 10000 | 9961 |
| ING (U.S.) Funding, LLC 10/7/2025 <sup>(a)</sup> <br>| 0.575 | 2600 | 2598 |
| KfW 12/18/2025 <sup>(a)</sup> <br>| 0.854 | 9000 | 8922 |
| Komatsu Finance America, Inc. 10/15/2025 <sup>(a)</sup> <br>| 0.339 | 5000 | 4991 |
| Komatsu Finance America, Inc. 11/14/2025 <sup>(a)</sup> <br>| 1.026 | 4200 | 4179 |
| Linde, Inc. 10/10/2025  | 0.471 | 9600 | 9589 |
| LVMH Moet Hennessy Louis Vuitton, Inc. 10/1/2025 <sup>(a)</sup> <br>| 1.165 | 8900 | 8899 |
| Manhattan Asset Funding Company, LLC 11/14/2025 <sup>(a)</sup> <br>| 1.314 | 4700 | 4676 |
| Mizuho Bank, Ltd. 10/1/2025 <sup>(a)</sup> <br>| 0.749 | 9400 | 9399 |
| Nestle Finance International, Ltd. 10/17/2025 <sup>(a)</sup> <br>| 0.667 | 7000 | 6986 |
| Nestle Finance International, Ltd. 11/12/2025 <sup>(a)</sup> <br>| 0.667 | 1900 | 1891 |
| Novartis Finance Corp. 10/16/2025 <sup>(a)</sup> <br>| 0.241 | 10000 | 9982 |
| Ontario (Province of) 10/14/2025  | 0.306 | 4600 | 4593 |
| Paccar Financial Corp. 10/8/2025  | 0.335 | 10000 | 9991 |
| Procter & Gamble Co. 12/9/2025 <sup>(a)</sup> <br>| 0.685 | 10000 | 9923 |
| Prudential Funding, LLC 10/3/2025  | 0.372 | 10000 | 9997 |
| Roche Holdings, Inc. 11/6/2025 <sup>(a)</sup> <br>| 0.393 | 12000 | 11950 |
| Sanofi 11/25/2025 <sup>(a)</sup> <br>| 0.771 | 4700 | 4670 |
| Starbird Funding Corp. 12/8/2025 <sup>(a)</sup> <br>| 1.112 | 8300 | 8235 |
| Sumitomo Mitsui Trust Bank, Ltd. 12/23/2025 <sup>(a)</sup> <br>| 0.828 | 10100 | 10004 |
| TOTAL Holdings USA, Inc. 10/3/2025 <sup>(a)</sup> <br>| 0.243 | 4000 | 3999 |
| Victory Receivables Corp. 10/20/2025 <sup>(a)</sup> <br>| 1.075 | 11000 | 10975 |
| Wal-Mart Stores, Inc. 10/14/2025 <sup>(a)</sup> <br>| 0.152 | 4950 | 4942 |
|  |  |  | 259281 |
| **U.S. Treasury bills 3.19%** |  |  |  |
| U.S. Treasury 10/28/2025  | 0.590 | 10000 | 9970 |
| **Federal agency bills & notes 13.72%**<br> **Discount bills & notes 13.72%**<br>|  |  |  |
| Fannie Mae 12/1/2025  | 0.635 | 10000 | 9935 |
| Federal Home Loan Bank 10/17/2025  | 0.663 | 7000 | 6988 |
| Federal Home Loan Bank 10/29/2025  | 0.591 | 10000 | 9970 |

---

American Funds Insurance Series — Page 276 of 319

------

**unaudited**

---

| | | | |
|:---|:---|:---|:---|
| Short-term securities (continued)<br> **Federal agency bills & notes (continued)**<br> **Discount bills & notes (continued)**<br>| Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Federal Home Loan Mortgage Corp. 10/6/2025  | 0.363<br> %<br>| USD10,000 | $9995 |
| Federal Home Loan Mortgage Corp. 12/5/2025  | 0.958 | 6000 | 5958 |
|  |  |  | 42846 |
| **Total short-term securities** (cost: $312,098,000) |  |  | 312097 |
| **Total investment securities 99.96%** (cost: $312,098,000) |  |  | 312097 |
| **Other assets less liabilities 0.04%** |  |  | 123 |
| **Net assets 100.00%** |  |  | $312220 |

---

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

<sup>(a)</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 $206,068,000, which represented 66.00% of the net assets of the fund. 

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| USD = U.S. dollars |

---

American Funds Insurance Series — Page 277 of 319

------

**U.S. Government Securities Fund**<sup>®</sup>

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 87.94%<br> **Mortgage-backed obligations 45.23%**<br> **Federal agency mortgage-backed obligations 45.18%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #745316 6.50% 2/1/2026 <sup>(a)</sup>  | USD2 | $2 |
| Fannie Mae Pool #AL9870 6.50% 2/1/2028 <sup>(a)</sup>  | 6 | 6 |
| Fannie Mae Pool #257431 6.50% 10/1/2028 <sup>(a)</sup>  | 1 | 1 |
| Fannie Mae Pool #695412 5.00% 6/1/2033 <sup>(a)</sup>  | —<br> <sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|
| Fannie Mae Pool #AD3566 5.00% 10/1/2035 <sup>(a)</sup>  | 2 | 3 |
| Fannie Mae Pool #MA2588 4.00% 4/1/2036 <sup>(a)</sup>  | 430 | 426 |
| Fannie Mae Pool #MA2746 4.00% 9/1/2036 <sup>(a)</sup>  | 988 | 978 |
| Fannie Mae Pool #CB3701 2.50% 5/1/2037 <sup>(a)</sup>  | 737 | 693 |
| Fannie Mae Pool #940890 6.50% 6/1/2037 <sup>(a)</sup>  | —<br> <sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|
| Fannie Mae Pool #MA4665 2.50% 7/1/2037 <sup>(a)</sup>  | 309 | 291 |
| Fannie Mae Pool #256828 7.00% 7/1/2037 <sup>(a)</sup>  | 2 | 2 |
| Fannie Mae Pool #256860 6.50% 8/1/2037 <sup>(a)</sup>  | 9 | 9 |
| Fannie Mae Pool #888698 7.00% 10/1/2037 <sup>(a)</sup>  | 11 | 12 |
| Fannie Mae Pool #970343 6.00% 2/1/2038 <sup>(a)</sup>  | 12 | 12 |
| Fannie Mae Pool #931768 5.00% 8/1/2039 <sup>(a)</sup>  | 4 | 4 |
| Fannie Mae Pool #AC0794 5.00% 10/1/2039 <sup>(a)</sup>  | 18 | 18 |
| Fannie Mae Pool #932606 5.00% 2/1/2040 <sup>(a)</sup>  | 6 | 6 |
| Fannie Mae Pool #FM7365 2.00% 5/1/2041 <sup>(a)</sup>  | 23496 | 20455 |
| Fannie Mae Pool #AI1862 5.00% 5/1/2041 <sup>(a)</sup>  | 254 | 260 |
| Fannie Mae Pool #AI3510 5.00% 6/1/2041 <sup>(a)</sup>  | 127 | 130 |
| Fannie Mae Pool #AE1248 5.00% 6/1/2041 <sup>(a)</sup>  | 28 | 28 |
| Fannie Mae Pool #AJ0704 5.00% 9/1/2041 <sup>(a)</sup>  | 118 | 121 |
| Fannie Mae Pool #AJ1873 4.00% 10/1/2041 <sup>(a)</sup>  | 15 | 14 |
| Fannie Mae Pool #AJ5391 5.00% 11/1/2041 <sup>(a)</sup>  | 66 | 68 |
| Fannie Mae Pool #AE1277 5.00% 11/1/2041 <sup>(a)</sup>  | 12 | 12 |
| Fannie Mae Pool #AE1283 5.00% 12/1/2041 <sup>(a)</sup>  | 6 | 6 |
| Fannie Mae Pool #AE1290 5.00% 2/1/2042 <sup>(a)</sup>  | 16 | 16 |
| Fannie Mae Pool #AT0300 3.50% 3/1/2043 <sup>(a)</sup>  | 4 | 4 |
| Fannie Mae Pool #AT3954 3.50% 4/1/2043 <sup>(a)</sup>  | 6 | 5 |
| Fannie Mae Pool #AT7161 3.50% 6/1/2043 <sup>(a)</sup>  | 29 | 27 |
| Fannie Mae Pool #MA5235 6.50% 12/1/2043 <sup>(a)</sup>  | 954 | 988 |
| Fannie Mae Pool #AY1829 3.50% 12/1/2044 <sup>(a)</sup>  | 7 | 6 |
| Fannie Mae Pool #BE5017 3.50% 2/1/2045 <sup>(a)</sup>  | 52 | 49 |
| Fannie Mae Pool #FM9416 3.50% 7/1/2045 <sup>(a)</sup>  | 3439 | 3234 |
| Fannie Mae Pool #BE8740 3.50% 5/1/2047 <sup>(a)</sup>  | 44 | 41 |
| Fannie Mae Pool #BE8742 3.50% 5/1/2047 <sup>(a)</sup>  | 12 | 12 |
| Fannie Mae Pool #BH2846 3.50% 5/1/2047 <sup>(a)</sup>  | 6 | 6 |
| Fannie Mae Pool #BH2848 3.50% 5/1/2047 <sup>(a)</sup>  | 6 | 5 |
| Fannie Mae Pool #BH2847 3.50% 5/1/2047 <sup>(a)</sup>  | 2 | 2 |
| Fannie Mae Pool #BH3122 4.00% 6/1/2047 <sup>(a)</sup>  | 5 | 5 |
| Fannie Mae Pool #BJ5015 4.00% 12/1/2047 <sup>(a)</sup>  | 81 | 78 |
| Fannie Mae Pool #BM3788 3.50% 3/1/2048 <sup>(a)</sup>  | 2472 | 2312 |
| Fannie Mae Pool #BJ4901 3.50% 3/1/2048 <sup>(a)</sup>  | 31 | 29 |
| Fannie Mae Pool #BK5232 4.00% 5/1/2048 <sup>(a)</sup>  | 47 | 46 |
| Fannie Mae Pool #BK6840 4.00% 6/1/2048 <sup>(a)</sup>  | 63 | 61 |

---

American Funds Insurance Series — Page 278 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #BK9743 4.00% 8/1/2048 <sup>(a)</sup>  | USD19 | $18 |
| Fannie Mae Pool #BK9761 4.50% 8/1/2048 <sup>(a)</sup>  | 13 | 13 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049 <sup>(a)</sup>  | 885 | 832 |
| Fannie Mae Pool #FM1062 3.50% 6/1/2049 <sup>(a)</sup>  | 332 | 311 |
| Fannie Mae Pool #BJ8411 3.50% 8/1/2049 <sup>(a)</sup>  | 84 | 79 |
| Fannie Mae Pool #CA4151 3.50% 9/1/2049 <sup>(a)</sup>  | 435 | 408 |
| Fannie Mae Pool #FM1443 3.50% 9/1/2049 <sup>(a)</sup>  | 245 | 229 |
| Fannie Mae Pool #FM2179 3.00% 1/1/2050 <sup>(a)</sup>  | 2817 | 2533 |
| Fannie Mae Pool #CA6593 2.50% 8/1/2050 <sup>(a)</sup>  | 723 | 622 |
| Fannie Mae Pool #CA7052 3.00% 9/1/2050 <sup>(a)</sup>  | 25 | 22 |
| Fannie Mae Pool #BQ3005 2.50% 10/1/2050 <sup>(a)</sup>  | 456 | 388 |
| Fannie Mae Pool #CA7257 2.50% 10/1/2050 <sup>(a)</sup>  | 154 | 133 |
| Fannie Mae Pool #CA7739 2.50% 11/1/2050 <sup>(a)</sup>  | 1558 | 1329 |
| Fannie Mae Pool #MA4208 2.00% 12/1/2050 <sup>(a)</sup>  | 191 | 155 |
| Fannie Mae Pool #BR0772 2.00% 1/1/2051 <sup>(a)</sup>  | 1320 | 1066 |
| Fannie Mae Pool #MA4237 2.00% 1/1/2051 <sup>(a)</sup>  | 67 | 54 |
| Fannie Mae Pool #FM6548 2.00% 3/1/2051 <sup>(a)</sup>  | 894 | 735 |
| Fannie Mae Pool #CB0290 2.00% 4/1/2051 <sup>(a)</sup>  | 570 | 464 |
| Fannie Mae Pool #MA4305 2.00% 4/1/2051 <sup>(a)</sup>  | 9 | 7 |
| Fannie Mae Pool #FM6856 2.50% 4/1/2051 <sup>(a)</sup>  | 341 | 291 |
| Fannie Mae Pool #BR1035 2.00% 5/1/2051 <sup>(a)</sup>  | 5 | 4 |
| Fannie Mae Pool #FM8114 2.00% 6/1/2051 <sup>(a)</sup>  | 1352 | 1091 |
| Fannie Mae Pool #CB0844 2.50% 6/1/2051 <sup>(a)</sup>  | 837 | 706 |
| Fannie Mae Pool #FM7687 3.00% 6/1/2051 <sup>(a)</sup>  | 4347 | 3903 |
| Fannie Mae Pool #BR2095 2.50% 7/1/2051 <sup>(a)</sup>  | 1306 | 1110 |
| Fannie Mae Pool #FM9530 2.50% 7/1/2051 <sup>(a)</sup>  | 262 | 221 |
| Fannie Mae Pool #FM7900 2.50% 7/1/2051 <sup>(a)</sup>  | 153 | 131 |
| Fannie Mae Pool #FM8422 2.50% 8/1/2051 <sup>(a)</sup>  | 494 | 417 |
| Fannie Mae Pool #FM8745 2.50% 9/1/2051 <sup>(a)</sup>  | 1230 | 1038 |
| Fannie Mae Pool #CB1527 2.50% 9/1/2051 <sup>(a)</sup>  | 565 | 481 |
| Fannie Mae Pool #FS1630 2.50% 9/1/2051 <sup>(a)</sup>  | 369 | 311 |
| Fannie Mae Pool #CB1868 2.50% 10/1/2051 <sup>(a)</sup>  | 991 | 836 |
| Fannie Mae Pool #FS0965 2.00% 11/1/2051 <sup>(a)</sup>  | 41 | 33 |
| Fannie Mae Pool #BU3058 2.50% 12/1/2051 <sup>(a)</sup>  | 1986 | 1677 |
| Fannie Mae Pool #CB2286 2.50% 12/1/2051 <sup>(a)</sup>  | 1019 | 873 |
| Fannie Mae Pool #FM9976 3.00% 12/1/2051 <sup>(a)</sup>  | 649 | 584 |
| Fannie Mae Pool #BV0894 2.00% 1/1/2052 <sup>(a)</sup>  | 466 | 378 |
| Fannie Mae Pool #CB2668 3.00% 1/1/2052 <sup>(a)</sup>  | 2337 | 2057 |
| Fannie Mae Pool #CB2544 3.00% 1/1/2052 <sup>(a)</sup>  | 1908 | 1698 |
| Fannie Mae Pool #CB2666 3.00% 1/1/2052 <sup>(a)</sup>  | 973 | 856 |
| Fannie Mae Pool #BV3076 2.00% 2/1/2052 <sup>(a)</sup>  | 391 | 317 |
| Fannie Mae Pool #FS5037 2.50% 2/1/2052 <sup>(a)</sup>  | 375 | 316 |
| Fannie Mae Pool #FS0523 2.50% 2/1/2052 <sup>(a)</sup>  | 163 | 140 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052 <sup>(a)</sup>  | 3002 | 2688 |
| Fannie Mae Pool #BV0162 2.00% 3/1/2052 <sup>(a)</sup>  | 5208 | 4202 |
| Fannie Mae Pool #FS1374 3.00% 3/1/2052 <sup>(a)</sup>  | 1985 | 1748 |
| Fannie Mae Pool #FS1294 3.00% 3/1/2052 <sup>(a)</sup>  | 860 | 756 |
| Fannie Mae Pool #CB3140 4.00% 3/1/2052 <sup>(a)</sup>  | 412 | 390 |
| Fannie Mae Pool #CB3345 2.00% 4/1/2052 <sup>(a)</sup>  | 3328 | 2692 |
| Fannie Mae Pool #BV7703 2.00% 4/1/2052 <sup>(a)</sup>  | 3166 | 2565 |
| Fannie Mae Pool #CB3354 2.50% 4/1/2052 <sup>(a)</sup>  | 7087 | 5978 |
| Fannie Mae Pool #CB3247 3.00% 4/1/2052 <sup>(a)</sup>  | 500 | 440 |
| Fannie Mae Pool #BV9262 3.00% 5/1/2052 <sup>(a)</sup>  | 788 | 693 |
| Fannie Mae Pool #CB3523 3.00% 5/1/2052 <sup>(a)</sup>  | 169 | 149 |

---

American Funds Insurance Series — Page 279 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #CB3528 4.00% 5/1/2052 <sup>(a)</sup>  | USD556 | $525 |
| Fannie Mae Pool #FS7329 2.00% 6/1/2052 <sup>(a)</sup>  | 100 | 81 |
| Fannie Mae Pool #CB3774 4.00% 6/1/2052 <sup>(a)</sup>  | 2520 | 2383 |
| Fannie Mae Pool #FS2159 5.00% 6/1/2052 <sup>(a)</sup>  | 51 | 51 |
| Fannie Mae Pool #BV2558 5.00% 6/1/2052 <sup>(a)</sup>  | 46 | 46 |
| Fannie Mae Pool #FS6986 2.00% 7/1/2052 <sup>(a)</sup>  | 206 | 167 |
| Fannie Mae Pool #BW7290 3.00% 7/1/2052 <sup>(a)</sup>  | 998 | 879 |
| Fannie Mae Pool #FS6362 3.50% 8/1/2052 <sup>(a)</sup>  | 2224 | 2037 |
| Fannie Mae Pool #BV8976 5.00% 8/1/2052 <sup>(a)</sup>  | 299 | 300 |
| Fannie Mae Pool #FS2489 5.00% 8/1/2052 <sup>(a)</sup>  | 47 | 47 |
| Fannie Mae Pool #BW1192 4.50% 9/1/2052 <sup>(a)</sup>  | 637 | 620 |
| Fannie Mae Pool #FS4611 5.00% 9/1/2052 <sup>(a)</sup>  | 8259 | 8235 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(a)</sup>  | 3237 | 2622 |
| Fannie Mae Pool #BW9458 4.50% 10/1/2052 <sup>(a)</sup>  | 917 | 895 |
| Fannie Mae Pool #BX0097 4.50% 10/1/2052 <sup>(a)</sup>  | 836 | 814 |
| Fannie Mae Pool #FS5994 5.00% 10/1/2052 <sup>(a)</sup>  | 7940 | 7918 |
| Fannie Mae Pool #BX1004 5.00% 10/1/2052 <sup>(a)</sup>  | 4750 | 4730 |
| Fannie Mae Pool #BW1289 5.50% 10/1/2052 <sup>(a)</sup>  | 591 | 599 |
| Fannie Mae Pool #BW1243 5.50% 10/1/2052 <sup>(a)</sup>  | 532 | 540 |
| Fannie Mae Pool #CB4917 5.50% 10/1/2052 <sup>(a)</sup>  | 81 | 82 |
| Fannie Mae Pool #MA4820 6.50% 10/1/2052 <sup>(a)</sup>  | 208 | 216 |
| Fannie Mae Pool #CB5118 4.00% 11/1/2052 <sup>(a)</sup>  | 51 | 48 |
| Fannie Mae Pool #MA4805 4.50% 11/1/2052 <sup>(a)</sup>  | 8 | 8 |
| Fannie Mae Pool #BX3198 4.00% 12/1/2052 <sup>(a)</sup>  | 49 | 46 |
| Fannie Mae Pool #MA4840 4.50% 12/1/2052 <sup>(a)</sup>  | 2520 | 2461 |
| Fannie Mae Pool #BX6121 6.00% 1/1/2053 <sup>(a)</sup>  | 1858 | 1915 |
| Fannie Mae Pool #BY1411 4.00% 2/1/2053 <sup>(a)</sup>  | 1375 | 1298 |
| Fannie Mae Pool #MA4919 5.50% 2/1/2053 <sup>(a)</sup>  | 9 | 9 |
| Fannie Mae Pool #FS3759 6.00% 2/1/2053 <sup>(a)</sup>  | 682 | 709 |
| Fannie Mae Pool #CB5919 6.00% 3/1/2053 <sup>(a)</sup>  | 764 | 784 |
| Fannie Mae Pool #CB5912 6.00% 3/1/2053 <sup>(a)</sup>  | 561 | 579 |
| Fannie Mae Pool #BY2249 4.00% 4/1/2053 <sup>(a)</sup>  | 224 | 212 |
| Fannie Mae Pool #MA4979 5.50% 4/1/2053 <sup>(a)</sup>  | 2037 | 2064 |
| Fannie Mae Pool #CB6106 6.50% 4/1/2053 <sup>(a)</sup>  | 348 | 365 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(a)</sup>  | 304 | 307 |
| Fannie Mae Pool #MA5011 6.00% 5/1/2053 <sup>(a)</sup>  | 1729 | 1778 |
| Fannie Mae Pool #CB6590 4.00% 6/1/2053 <sup>(a)</sup>  | 72 | 68 |
| Fannie Mae Pool #MA5039 5.50% 6/1/2053 <sup>(a)</sup>  | 2774 | 2808 |
| Fannie Mae Pool #CB6485 6.00% 6/1/2053 <sup>(a)</sup>  | 2802 | 2873 |
| Fannie Mae Pool #FS4933 6.00% 6/1/2053 <sup>(a)</sup>  | 1826 | 1874 |
| Fannie Mae Pool #CB6486 6.00% 6/1/2053 <sup>(a)</sup>  | 1738 | 1784 |
| Fannie Mae Pool #MA5040 6.00% 6/1/2053 <sup>(a)</sup>  | 1352 | 1387 |
| Fannie Mae Pool #CB6465 6.00% 6/1/2053 <sup>(a)</sup>  | 1278 | 1319 |
| Fannie Mae Pool #CB6719 4.50% 7/1/2053 <sup>(a)</sup>  | 352 | 343 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(a)</sup>  | 9474 | 9573 |
| Fannie Mae Pool #MA5073 6.00% 7/1/2053 <sup>(a)</sup>  | 1619 | 1660 |
| Fannie Mae Pool #FS5343 6.00% 7/1/2053 <sup>(a)</sup>  | 269 | 276 |
| Fannie Mae Pool #CB6853 4.50% 8/1/2053 <sup>(a)</sup>  | 431 | 419 |
| Fannie Mae Pool #MA5107 5.50% 8/1/2053 <sup>(a)</sup>  | 195 | 197 |
| Fannie Mae Pool #MA5165 5.50% 10/1/2053 <sup>(a)</sup>  | 21057 | 21307 |
| Fannie Mae Pool #MA5166 6.00% 10/1/2053 <sup>(a)</sup>  | 493 | 505 |
| Fannie Mae Pool #CB7242 6.50% 10/1/2053 <sup>(a)</sup>  | 653 | 677 |
| Fannie Mae Pool #MA5167 6.50% 10/1/2053 <sup>(a)</sup>  | 211 | 218 |
| Fannie Mae Pool #MA5207 4.00% 11/1/2053 <sup>(a)</sup>  | 957 | 903 |

---

American Funds Insurance Series — Page 280 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #FS8361 3.50% 12/1/2053 <sup>(a)</sup>  | USD260 | $238 |
| Fannie Mae Pool #MA5236 4.00% 12/1/2053 <sup>(a)</sup>  | 23 | 21 |
| Fannie Mae Pool #FS6668 5.50% 12/1/2053 <sup>(a)</sup>  | 507 | 513 |
| Fannie Mae Pool #MA5215 5.50% 12/1/2053 <sup>(a)</sup>  | 142 | 144 |
| Fannie Mae Pool #CB7624 6.50% 12/1/2053 <sup>(a)</sup>  | 11396 | 11825 |
| Fannie Mae Pool #FS6873 6.50% 1/1/2054 <sup>(a)</sup>  | 3275 | 3388 |
| Fannie Mae Pool #FS6809 5.50% 2/1/2054 <sup>(a)</sup>  | 465 | 471 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(a)</sup>  | 933 | 943 |
| Fannie Mae Pool #DA7881 5.50% 3/1/2054 <sup>(a)</sup>  | 398 | 403 |
| Fannie Mae Pool #CB8328 5.50% 4/1/2054 <sup>(a)</sup>  | 1211 | 1231 |
| Fannie Mae Pool #DB1235 6.00% 4/1/2054 <sup>(a)</sup>  | 605 | 624 |
| Fannie Mae Pool #CB8387 6.50% 4/1/2054 <sup>(a)</sup>  | 1201 | 1253 |
| Fannie Mae Pool #MA5353 5.50% 5/1/2054 <sup>(a)</sup>  | 5455 | 5511 |
| Fannie Mae Pool #CB8507 6.50% 5/1/2054 <sup>(a)</sup>  | 1756 | 1831 |
| Fannie Mae Pool #MA5458 3.50% 6/1/2054 <sup>(a)</sup>  | 25 | 23 |
| Fannie Mae Pool #CB8755 6.00% 6/1/2054 <sup>(a)</sup>  | 3016 | 3097 |
| Fannie Mae Pool #DB6878 6.00% 6/1/2054 <sup>(a)</sup>  | 798 | 816 |
| Fannie Mae Pool #CB8725 6.50% 6/1/2054 <sup>(a)</sup>  | 4262 | 4414 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(a)</sup>  | 7276 | 7472 |
| Fannie Mae Pool #FS8591 6.00% 7/1/2054 <sup>(a)</sup>  | 3755 | 3875 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(a)</sup>  | 978 | 1002 |
| Fannie Mae Pool #BU4707 6.00% 7/1/2054 <sup>(a)</sup>  | 171 | 175 |
| Fannie Mae Pool #CB8872 6.50% 7/1/2054 <sup>(a)</sup>  | 6548 | 6826 |
| Fannie Mae Pool #CB8876 6.50% 7/1/2054 <sup>(a)</sup>  | 1884 | 1958 |
| Fannie Mae Pool #FS8317 6.50% 7/1/2054 <sup>(a)</sup>  | 1038 | 1082 |
| Fannie Mae Pool #DC1075 6.00% 8/1/2054 <sup>(a)</sup>  | 261 | 267 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(a)</sup>  | 229 | 236 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(a)</sup>  | 207 | 212 |
| Fannie Mae Pool #FS8795 6.00% 8/1/2054 <sup>(a)</sup>  | 122 | 125 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(a)</sup>  | 108 | 111 |
| Fannie Mae Pool #DB7792 6.00% 8/1/2054 <sup>(a)</sup>  | 105 | 107 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(a)</sup>  | 92 | 94 |
| Fannie Mae Pool #FS9009 5.50% 9/1/2054 <sup>(a)</sup>  | 1922 | 1954 |
| Fannie Mae Pool #DC3262 6.00% 9/1/2054 <sup>(a)</sup>  | 97 | 99 |
| Fannie Mae Pool #DC3459 6.00% 9/1/2054 <sup>(a)</sup>  | 50 | 51 |
| Fannie Mae Pool #BU5166 6.00% 10/1/2054 <sup>(a)</sup>  | 1445 | 1483 |
| Fannie Mae Pool #DC5704 4.00% 11/1/2054 <sup>(a)</sup>  | 132 | 125 |
| Fannie Mae Pool #BU5165 5.50% 11/1/2054 <sup>(a)</sup>  | 203 | 205 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(a)</sup>  | 24 | 24 |
| Fannie Mae Pool #DC5696 6.00% 11/1/2054 <sup>(a)</sup>  | 2886 | 2955 |
| Fannie Mae Pool #CB9432 6.00% 11/1/2054 <sup>(a)</sup>  | 392 | 403 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(a)</sup>  | 802 | 796 |
| Fannie Mae Pool #DC7823 6.00% 12/1/2054 <sup>(a)</sup>  | 35 | 36 |
| Fannie Mae Pool #MA5587 6.00% 1/1/2055 <sup>(a)</sup>  | 1765 | 1805 |
| Fannie Mae Pool #CB9821 6.00% 1/1/2055 <sup>(a)</sup>  | 1040 | 1067 |
| Fannie Mae Pool #FA0608 5.50% 2/1/2055 <sup>(a)</sup>  | 28 | 28 |
| Fannie Mae Pool #MA5646 5.50% 3/1/2055 <sup>(a)</sup>  | 7747 | 7818 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(a)</sup>  | 217 | 222 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(a)</sup>  | 2086 | 2132 |
| Fannie Mae Pool #FA1162 6.00% 4/1/2055 <sup>(a)</sup>  | 77 | 78 |
| Fannie Mae Pool #DD4459 6.00% 4/1/2055 <sup>(a)</sup>  | 73 | 74 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(a)</sup>  | 3117 | 3187 |
| Fannie Mae Pool #MA5761 6.00% 7/1/2055 <sup>(a)</sup>  | 701 | 717 |
| Fannie Mae Pool #MA5793 6.00% 8/1/2055 <sup>(a)</sup>  | 803 | 821 |

---

American Funds Insurance Series — Page 281 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Fannie Mae Pool #CC0879 6.00% 8/1/2055 <sup>(a)</sup>  | USD479 | $494 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060 <sup>(a)</sup>  | 1130 | 989 |
| Fannie Mae Pool #BF0585 4.50% 12/1/2061 <sup>(a)</sup>  | 335 | 325 |
| Fannie Mae Pool #BF0765 3.50% 9/1/2063 <sup>(a)</sup>  | 431 | 388 |
| Fannie Mae Pool #DB0754 5.50% 3/1/2054 <sup>(a)</sup>  | 42 | 42 |
| Freddie Mac Pool #ZS8907 6.50% 10/1/2026 <sup>(a)</sup>  | —<br> <sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|
| Freddie Mac Pool #ZA2024 6.50% 9/1/2027 <sup>(a)</sup>  | 1 | 1 |
| Freddie Mac Pool #1H1354 6.903% 11/1/2036 <sup>(a)(c)</sup>  | 30 | 31 |
| Freddie Mac Pool #QO0557 2.50% 7/1/2037 <sup>(a)</sup>  | 1108 | 1042 |
| Freddie Mac Pool #C03518 5.00% 9/1/2040 <sup>(a)</sup>  | 231 | 237 |
| Freddie Mac Pool #G06459 5.00% 5/1/2041 <sup>(a)</sup>  | 468 | 480 |
| Freddie Mac Pool #RB5145 2.00% 2/1/2042 <sup>(a)</sup>  | 616 | 533 |
| Freddie Mac Pool #RB5154 2.50% 4/1/2042 <sup>(a)</sup>  | 8853 | 7871 |
| Freddie Mac Pool #Q15874 4.00% 2/1/2043 <sup>(a)</sup>  | 2 | 2 |
| Freddie Mac Pool #Q17696 3.50% 4/1/2043 <sup>(a)</sup>  | 21 | 20 |
| Freddie Mac Pool #Q19133 3.50% 6/1/2043 <sup>(a)</sup>  | 22 | 21 |
| Freddie Mac Pool #Q23190 4.00% 11/1/2043 <sup>(a)</sup>  | 111 | 108 |
| Freddie Mac Pool #Q28558 3.50% 9/1/2044 <sup>(a)</sup>  | 163 | 154 |
| Freddie Mac Pool #760014 4.639% 8/1/2045 <sup>(a)(c)</sup>  | 208 | 207 |
| Freddie Mac Pool #Q47615 3.50% 4/1/2047 <sup>(a)</sup>  | 41 | 38 |
| Freddie Mac Pool #Q52069 3.50% 11/1/2047 <sup>(a)</sup>  | 59 | 55 |
| Freddie Mac Pool #SD0470 4.00% 11/1/2047 <sup>(a)</sup>  | 5621 | 5391 |
| Freddie Mac Pool #Q54709 3.50% 3/1/2048 <sup>(a)</sup>  | 41 | 38 |
| Freddie Mac Pool #Q54701 3.50% 3/1/2048 <sup>(a)</sup>  | 40 | 37 |
| Freddie Mac Pool #Q54700 3.50% 3/1/2048 <sup>(a)</sup>  | 34 | 32 |
| Freddie Mac Pool #Q54781 3.50% 3/1/2048 <sup>(a)</sup>  | 27 | 26 |
| Freddie Mac Pool #Q54782 3.50% 3/1/2048 <sup>(a)</sup>  | 19 | 18 |
| Freddie Mac Pool #Q54699 3.50% 3/1/2048 <sup>(a)</sup>  | 18 | 17 |
| Freddie Mac Pool #Q54831 3.50% 3/1/2048 <sup>(a)</sup>  | 12 | 11 |
| Freddie Mac Pool #Q54698 3.50% 3/1/2048 <sup>(a)</sup>  | 11 | 10 |
| Freddie Mac Pool #G67711 4.00% 3/1/2048 <sup>(a)</sup>  | 707 | 681 |
| Freddie Mac Pool #Q55971 4.00% 5/1/2048 <sup>(a)</sup>  | 45 | 43 |
| Freddie Mac Pool #Q56175 4.00% 5/1/2048 <sup>(a)</sup>  | 33 | 31 |
| Freddie Mac Pool #Q56590 3.50% 6/1/2048 <sup>(a)</sup>  | 23 | 22 |
| Freddie Mac Pool #Q56589 3.50% 6/1/2048 <sup>(a)</sup>  | 13 | 12 |
| Freddie Mac Pool #Q56599 4.00% 6/1/2048 <sup>(a)</sup>  | 66 | 63 |
| Freddie Mac Pool #ZT2265 4.00% 8/1/2048 <sup>(a)</sup>  | 5252 | 5049 |
| Freddie Mac Pool #Q58411 4.50% 9/1/2048 <sup>(a)</sup>  | 157 | 156 |
| Freddie Mac Pool #Q58436 4.50% 9/1/2048 <sup>(a)</sup>  | 77 | 76 |
| Freddie Mac Pool #Q58378 4.50% 9/1/2048 <sup>(a)</sup>  | 50 | 50 |
| Freddie Mac Pool #ZT0522 4.50% 9/1/2048 <sup>(a)</sup>  | 16 | 16 |
| Freddie Mac Pool #QA0284 3.50% 6/1/2049 <sup>(a)</sup>  | 124 | 116 |
| Freddie Mac Pool #QA2748 3.50% 9/1/2049 <sup>(a)</sup>  | 36 | 34 |
| Freddie Mac Pool #RA1463 3.50% 10/1/2049 <sup>(a)</sup>  | 299 | 280 |
| Freddie Mac Pool #RA1580 3.50% 10/1/2049 <sup>(a)</sup>  | 155 | 146 |
| Freddie Mac Pool #RA3384 3.00% 8/1/2050 <sup>(a)</sup>  | 24 | 21 |
| Freddie Mac Pool #RA3576 2.00% 9/1/2050 <sup>(a)</sup>  | 1342 | 1085 |
| Freddie Mac Pool #SD8106 2.00% 11/1/2050 <sup>(a)</sup>  | 1154 | 940 |
| Freddie Mac Pool #RA3987 2.50% 11/1/2050 <sup>(a)</sup>  | 1753 | 1491 |
| Freddie Mac Pool #SD8128 2.00% 2/1/2051 <sup>(a)</sup>  | 31 | 25 |
| Freddie Mac Pool #RA4528 2.50% 2/1/2051 <sup>(a)</sup>  | 723 | 610 |
| Freddie Mac Pool #SD8134 2.00% 3/1/2051 <sup>(a)</sup>  | 52 | 42 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051 <sup>(a)</sup>  | 2011 | 1646 |
| Freddie Mac Pool #RA5155 2.00% 5/1/2051 <sup>(a)</sup>  | 909 | 734 |

---

American Funds Insurance Series — Page 282 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #SD7544 3.00% 7/1/2051 <sup>(a)</sup>  | USD131 | $117 |
| Freddie Mac Pool #SD0726 2.50% 10/1/2051 <sup>(a)</sup>  | 8084 | 6931 |
| Freddie Mac Pool #QD0910 2.00% 11/1/2051 <sup>(a)</sup>  | 1384 | 1117 |
| Freddie Mac Pool #RA6406 2.00% 11/1/2051 <sup>(a)</sup>  | 404 | 328 |
| Freddie Mac Pool #SD1385 2.50% 11/1/2051 <sup>(a)</sup>  | 431 | 371 |
| Freddie Mac Pool #QD3619 2.50% 12/1/2051 <sup>(a)</sup>  | 105 | 89 |
| Freddie Mac Pool #QD5035 2.00% 1/1/2052 <sup>(a)</sup>  | 1326 | 1070 |
| Freddie Mac Pool #SD7552 2.50% 1/1/2052 <sup>(a)</sup>  | 266 | 228 |
| Freddie Mac Pool #SD0813 3.00% 1/1/2052 <sup>(a)</sup>  | 124 | 111 |
| Freddie Mac Pool #RA6771 2.00% 2/1/2052 <sup>(a)</sup>  | 2387 | 1927 |
| Freddie Mac Pool #QD7087 2.00% 2/1/2052 <sup>(a)</sup>  | 1271 | 1026 |
| Freddie Mac Pool #QD7967 2.00% 2/1/2052 <sup>(a)</sup>  | 295 | 239 |
| Freddie Mac Pool #SD0873 3.50% 2/1/2052 <sup>(a)</sup>  | 7856 | 7313 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052 <sup>(a)</sup>  | 148 | 136 |
| Freddie Mac Pool #SD5745 2.00% 3/1/2052 <sup>(a)</sup>  | 332 | 269 |
| Freddie Mac Pool #QD8673 3.00% 3/1/2052 <sup>(a)</sup>  | 1996 | 1755 |
| Freddie Mac Pool #QD9477 4.00% 4/1/2052 <sup>(a)</sup>  | 331 | 313 |
| Freddie Mac Pool #QE2352 2.50% 5/1/2052 <sup>(a)</sup>  | 820 | 693 |
| Freddie Mac Pool #8D0226 2.545% 5/1/2052 <sup>(a)(c)</sup>  | 421 | 386 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(a)</sup>  | 7628 | 6720 |
| Freddie Mac Pool #QE1489 3.50% 5/1/2052 <sup>(a)</sup>  | 794 | 726 |
| Freddie Mac Pool #QE3999 3.50% 5/1/2052 <sup>(a)</sup>  | 412 | 378 |
| Freddie Mac Pool #SD6203 3.00% 6/1/2052 <sup>(a)</sup>  | 268 | 235 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(a)</sup>  | 3155 | 2775 |
| Freddie Mac Pool #RA7572 3.00% 8/1/2052 <sup>(a)</sup>  | 48 | 43 |
| Freddie Mac Pool #SD4554 4.00% 8/1/2052 <sup>(a)</sup>  | 137 | 129 |
| Freddie Mac Pool #QE8579 4.50% 8/1/2052 <sup>(a)</sup>  | 181 | 177 |
| Freddie Mac Pool #QE8282 5.00% 8/1/2052 <sup>(a)</sup>  | 784 | 782 |
| Freddie Mac Pool #QE7647 5.00% 8/1/2052 <sup>(a)</sup>  | 45 | 45 |
| Freddie Mac Pool #SD1496 5.00% 8/1/2052 <sup>(a)</sup>  | 37 | 37 |
| Freddie Mac Pool #QF0212 4.50% 9/1/2052 <sup>(a)</sup>  | 812 | 792 |
| Freddie Mac Pool #QE9497 4.50% 9/1/2052 <sup>(a)</sup>  | 200 | 196 |
| Freddie Mac Pool #SD1608 4.50% 9/1/2052 <sup>(a)</sup>  | 120 | 117 |
| Freddie Mac Pool #RA7938 5.00% 9/1/2052 <sup>(a)</sup>  | 9144 | 9131 |
| Freddie Mac Pool #SD3782 4.50% 10/1/2052 <sup>(a)</sup>  | 3133 | 3054 |
| Freddie Mac Pool #SD2465 4.50% 10/1/2052 <sup>(a)</sup>  | 81 | 79 |
| Freddie Mac Pool #SD1895 4.50% 11/1/2052 <sup>(a)</sup>  | 974 | 970 |
| Freddie Mac Pool #QF2560 4.50% 11/1/2052 <sup>(a)</sup>  | 953 | 930 |
| Freddie Mac Pool #SD2948 5.50% 11/1/2052 <sup>(a)</sup>  | 1865 | 1889 |
| Freddie Mac Pool #SD8281 6.50% 12/1/2052 <sup>(a)</sup>  | 4021 | 4181 |
| Freddie Mac Pool #SD8320 3.00% 2/1/2053 <sup>(a)</sup>  | 667 | 587 |
| Freddie Mac Pool #SD8316 5.50% 4/1/2053 <sup>(a)</sup>  | 837 | 847 |
| Freddie Mac Pool #QG1653 6.00% 4/1/2053 <sup>(a)</sup>  | 795 | 816 |
| Freddie Mac Pool #QG0259 6.00% 4/1/2053 <sup>(a)</sup>  | 424 | 435 |
| Freddie Mac Pool #RA8647 4.50% 5/1/2053 <sup>(a)</sup>  | 81 | 79 |
| Freddie Mac Pool #SD8324 5.50% 5/1/2053 <sup>(a)</sup>  | 746 | 756 |
| Freddie Mac Pool #SD3369 5.50% 5/1/2053 <sup>(a)</sup>  | 485 | 491 |
| Freddie Mac Pool #SD8325 6.00% 5/1/2053 <sup>(a)</sup>  | 3588 | 3683 |
| Freddie Mac Pool #QG3763 6.00% 5/1/2053 <sup>(a)</sup>  | 1613 | 1658 |
| Freddie Mac Pool #SD2979 6.50% 5/1/2053 <sup>(a)</sup>  | 243 | 254 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(a)</sup>  | 1411 | 1428 |
| Freddie Mac Pool #SD8332 6.00% 6/1/2053 <sup>(a)</sup>  | 13980 | 14345 |
| Freddie Mac Pool #SD3175 6.00% 6/1/2053 <sup>(a)</sup>  | 3643 | 3738 |
| Freddie Mac Pool #SD3083 6.00% 6/1/2053 <sup>(a)</sup>  | 1863 | 1911 |

---

American Funds Insurance Series — Page 283 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #QG5227 6.00% 6/1/2053 <sup>(a)</sup>  | USD779 | $799 |
| Freddie Mac Pool #RA9279 6.00% 6/1/2053 <sup>(a)</sup>  | 388 | 400 |
| Freddie Mac Pool #RA9283 6.00% 6/1/2053 <sup>(a)</sup>  | 339 | 348 |
| Freddie Mac Pool #RA9281 6.00% 6/1/2053 <sup>(a)</sup>  | 231 | 238 |
| Freddie Mac Pool #RA9284 6.00% 6/1/2053 <sup>(a)</sup>  | 189 | 197 |
| Freddie Mac Pool #RA9294 6.50% 6/1/2053 <sup>(a)</sup>  | 1894 | 1974 |
| Freddie Mac Pool #RA9292 6.50% 6/1/2053 <sup>(a)</sup>  | 1685 | 1756 |
| Freddie Mac Pool #RA9289 6.50% 6/1/2053 <sup>(a)</sup>  | 1580 | 1660 |
| Freddie Mac Pool #RA9288 6.50% 6/1/2053 <sup>(a)</sup>  | 1549 | 1629 |
| Freddie Mac Pool #RA9287 6.50% 6/1/2053 <sup>(a)</sup>  | 1088 | 1146 |
| Freddie Mac Pool #RA9290 6.50% 6/1/2053 <sup>(a)</sup>  | 845 | 886 |
| Freddie Mac Pool #RA9291 6.50% 6/1/2053 <sup>(a)</sup>  | 527 | 547 |
| Freddie Mac Pool #RA9295 6.50% 6/1/2053 <sup>(a)</sup>  | 463 | 493 |
| Freddie Mac Pool #SD8342 5.50% 7/1/2053 <sup>(a)</sup>  | 16483 | 16670 |
| Freddie Mac Pool #SD3386 5.50% 7/1/2053 <sup>(a)</sup>  | 598 | 607 |
| Freddie Mac Pool #SD8343 6.00% 7/1/2053 <sup>(a)</sup>  | 17618 | 18056 |
| Freddie Mac Pool #SD8350 6.00% 8/1/2053 <sup>(a)</sup>  | 19241 | 19715 |
| Freddie Mac Pool #SD8362 5.50% 9/1/2053 <sup>(a)</sup>  | 706 | 714 |
| Freddie Mac Pool #SD3857 6.00% 9/1/2053 <sup>(a)</sup>  | 37203 | 38178 |
| Freddie Mac Pool #RA9857 6.00% 9/1/2053 <sup>(a)</sup>  | 2046 | 2098 |
| Freddie Mac Pool #SD3825 6.50% 9/1/2053 <sup>(a)</sup>  | 82 | 85 |
| Freddie Mac Pool #SD4053 6.00% 10/1/2053 <sup>(a)</sup>  | 4528 | 4645 |
| Freddie Mac Pool #SD8370 4.50% 11/1/2053 <sup>(a)</sup>  | 699 | 679 |
| Freddie Mac Pool #SD8372 5.50% 11/1/2053 <sup>(a)</sup>  | 3110 | 3147 |
| Freddie Mac Pool #SD4318 6.50% 11/1/2053 <sup>(a)</sup>  | 10268 | 10686 |
| Freddie Mac Pool #SD8395 5.50% 1/1/2054 <sup>(a)</sup>  | 1917 | 1938 |
| Freddie Mac Pool #RJ0854 6.50% 1/1/2054 <sup>(a)</sup>  | 367 | 381 |
| Freddie Mac Pool #QI0100 4.00% 2/1/2054 <sup>(a)</sup>  | 158 | 149 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(a)</sup>  | 923 | 933 |
| Freddie Mac Pool #SD4894 6.00% 2/1/2054 <sup>(a)</sup>  | 4058 | 4186 |
| Freddie Mac Pool #SD4975 6.00% 2/1/2054 <sup>(a)</sup>  | 195 | 200 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(a)</sup>  | 491 | 496 |
| Freddie Mac Pool #RJ1216 5.50% 4/1/2054 <sup>(a)</sup>  | 561 | 570 |
| Freddie Mac Pool #RJ1215 5.50% 4/1/2054 <sup>(a)</sup>  | 97 | 98 |
| Freddie Mac Pool #QI2895 6.00% 4/1/2054 <sup>(a)</sup>  | 492 | 507 |
| Freddie Mac Pool #RJ1448 5.50% 5/1/2054 <sup>(a)</sup>  | 479 | 485 |
| Freddie Mac Pool #SD8432 6.00% 5/1/2054 <sup>(a)</sup>  | 74 | 76 |
| Freddie Mac Pool #SD5404 6.50% 5/1/2054 <sup>(a)</sup>  | 2324 | 2415 |
| Freddie Mac Pool #RJ1535 6.50% 5/1/2054 <sup>(a)</sup>  | 1160 | 1209 |
| Freddie Mac Pool #RJ1779 6.00% 6/1/2054 <sup>(a)</sup>  | 11682 | 12064 |
| Freddie Mac Pool #SD8439 6.00% 6/1/2054 <sup>(a)</sup>  | 1 | 1 |
| Freddie Mac Pool #RJ1792 6.50% 6/1/2054 <sup>(a)</sup>  | 2651 | 2770 |
| Freddie Mac Pool #RJ1726 6.50% 6/1/2054 <sup>(a)</sup>  | 1027 | 1067 |
| Freddie Mac Pool #RJ1725 6.50% 6/1/2054 <sup>(a)</sup>  | 619 | 647 |
| Freddie Mac Pool #SD5949 6.00% 7/1/2054 <sup>(a)</sup>  | 8049 | 8247 |
| Freddie Mac Pool #QI8874 6.00% 7/1/2054 <sup>(a)</sup>  | 2979 | 3055 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(a)</sup>  | 238 | 245 |
| Freddie Mac Pool #RJ1986 6.50% 7/1/2054 <sup>(a)</sup>  | 6654 | 6895 |
| Freddie Mac Pool #SD6286 5.50% 8/1/2054 <sup>(a)</sup>  | 4089 | 4157 |
| Freddie Mac Pool #SD8453 5.50% 8/1/2054 <sup>(a)</sup>  | 973 | 983 |
| Freddie Mac Pool #RJ2210 6.00% 8/1/2054 <sup>(a)</sup>  | 3180 | 3260 |
| Freddie Mac Pool #RJ2216 6.00% 8/1/2054 <sup>(a)</sup>  | 1440 | 1475 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(a)</sup>  | 144 | 149 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(a)</sup>  | 87 | 89 |

---

American Funds Insurance Series — Page 284 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Freddie Mac Pool #QJ3296 6.00% 8/1/2054 <sup>(a)</sup>  | USD54 | $55 |
| Freddie Mac Pool #RJ2222 6.50% 8/1/2054 <sup>(a)</sup>  | 3807 | 3968 |
| Freddie Mac Pool #SD8455 6.50% 8/1/2054 <sup>(a)</sup>  | 3617 | 3738 |
| Freddie Mac Pool #QJ4811 5.50% 9/1/2054 <sup>(a)</sup>  | 676 | 682 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(a)</sup>  | 493 | 506 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(a)</sup>  | 266 | 274 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(a)</sup>  | 247 | 255 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(a)</sup>  | 235 | 243 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(a)</sup>  | 150 | 154 |
| Freddie Mac Pool #SD6288 6.50% 9/1/2054 <sup>(a)</sup>  | 4767 | 4974 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(a)</sup>  | 4 | 4 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(a)</sup>  | 400 | 404 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(a)</sup>  | 3 | 3 |
| Freddie Mac Pool #RJ3240 6.00% 1/1/2055 <sup>(a)</sup>  | 3776 | 3889 |
| Freddie Mac Pool #SD8496 6.00% 1/1/2055 <sup>(a)</sup>  | 3555 | 3636 |
| Freddie Mac Pool #RJ3301 6.00% 1/1/2055 <sup>(a)</sup>  | 1509 | 1557 |
| Freddie Mac Pool #RJ3305 6.00% 1/1/2055 <sup>(a)</sup>  | 1073 | 1105 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(a)</sup>  | 2486 | 2544 |
| Freddie Mac Pool #SD8515 5.50% 3/1/2055 <sup>(a)</sup>  | 6 | 6 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(a)</sup>  | 1480 | 1514 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(a)</sup>  | 434 | 444 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(a)</sup>  | 388 | 397 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(a)</sup>  | 659 | 654 |
| Freddie Mac Pool #RQ0027 5.50% 7/1/2055 <sup>(a)</sup>  | 1233 | 1244 |
| Freddie Mac Pool #RQ0028 6.00% 7/1/2055 <sup>(a)</sup>  | 1300 | 1329 |
| Freddie Mac Pool #RQ0041 6.00% 8/1/2055 <sup>(a)</sup>  | 666 | 681 |
| Freddie Mac, Series K751, Class A2, Multi Family, 4.412% 3/25/2030 <sup>(a)</sup>  | 3875 | 3928 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056 <sup>(a)</sup>  | 3405 | 3209 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class MT, 3.00% 7/25/2056 <sup>(a)</sup>  | 713 | 625 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HT, 3.25% 7/25/2056 <sup>(a)</sup>  | 287 | 254 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056 <sup>(a)</sup>  | 3509 | 3311 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056 <sup>(a)(c)</sup>  | 3109 | 2919 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-1, Class HT, 3.00% 5/25/2057 <sup>(a)</sup>  | 775 | 665 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 6/25/2057 <sup>(a)(c)</sup>  | 1082 | 981 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057 <sup>(a)(c)</sup>  | 335 | 327 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT, 3.50% 11/25/2057 <sup>(a)</sup>  | 3421 | 3072 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MA, 3.50% 7/25/2058 <sup>(a)</sup>  | 401 | 389 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MT, 3.50% 8/25/2058 <sup>(a)</sup>  | 602 | 538 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/26/2058 <sup>(a)</sup>  | 1509 | 1459 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 10/25/2058 <sup>(a)</sup>  | 322 | 289 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA, 3.00% 2/25/2059 <sup>(a)</sup>  | 1303 | 1208 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028 <sup>(a)</sup>  | 13388 | 13115 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-3, Class A1C, 2.75% 11/25/2029 <sup>(a)</sup>  | 3374 | 3222 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2020-1, Class A1D, 2.00% 7/25/2030 <sup>(a)</sup>  | 964 | 891 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2020-1, Class A2D, 2.00% 7/25/2030 <sup>(a)</sup>  | 435 | 384 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2022-1, Class A1, 3.50% 5/25/2032 <sup>(a)</sup>  | 3304 | 3206 |
| Government National Mortgage Assn. 3.50% 10/1/2055 <sup>(a)(d)</sup>  | 1411 | 1287 |
| Government National Mortgage Assn. 5.00% 10/1/2055 <sup>(a)(d)</sup>  | 5 | 5 |
| Government National Mortgage Assn. Pool #782365 6.00% 7/15/2038 <sup>(a)</sup>  | 57 | 60 |
| Government National Mortgage Assn. Pool #700778 5.50% 10/15/2038 <sup>(a)</sup>  | 11 | 11 |
| Government National Mortgage Assn. Pool #004269 6.50% 10/20/2038 <sup>(a)</sup>  | 117 | 125 |
| Government National Mortgage Assn. Pool #698668 5.50% 11/15/2038 <sup>(a)</sup>  | 25 | 26 |
| Government National Mortgage Assn. Pool #698406 5.00% 7/15/2039 <sup>(a)</sup>  | 115 | 118 |
| Government National Mortgage Assn. Pool #783690 6.00% 9/20/2039 <sup>(a)</sup>  | 62 | 65 |

---

American Funds Insurance Series — Page 285 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Federal agency mortgage-backed obligations (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Government National Mortgage Assn. Pool #783689 5.50% 2/20/2040 <sup>(a)</sup>  | USD1,690 | $1747 |
| Government National Mortgage Assn. Pool #783688 5.00% 6/20/2041 <sup>(a)</sup>  | 614 | 625 |
| Government National Mortgage Assn. Pool #783687 4.50% 12/20/2041 <sup>(a)</sup>  | 418 | 411 |
| Government National Mortgage Assn. Pool #MA0533 3.00% 11/20/2042 <sup>(a)</sup>  | 14 | 13 |
| Government National Mortgage Assn. Pool #MA6994 2.00% 11/20/2050 <sup>(a)</sup>  | 750 | 621 |
| Government National Mortgage Assn. Pool #MA7051 2.00% 12/20/2050 <sup>(a)</sup>  | 657 | 543 |
| Government National Mortgage Assn. Pool #785575 2.50% 8/20/2051 <sup>(a)</sup>  | 4406 | 3756 |
| Government National Mortgage Assn. Pool #MA7534 2.50% 8/20/2051 <sup>(a)</sup>  | 1906 | 1643 |
| Government National Mortgage Assn. Pool #785659 2.50% 10/20/2051 <sup>(a)</sup>  | 607 | 519 |
| Government National Mortgage Assn. Pool #786706 2.50% 12/20/2051 <sup>(a)</sup>  | 3434 | 2928 |
| Government National Mortgage Assn. Pool #MA7827 2.50% 1/20/2052 <sup>(a)</sup>  | 80 | 69 |
| Government National Mortgage Assn. Pool #786502 2.50% 2/20/2052 <sup>(a)</sup>  | 2936 | 2525 |
| Government National Mortgage Assn. Pool #786647 2.50% 3/20/2052 <sup>(a)</sup>  | 1504 | 1298 |
| Government National Mortgage Assn. Pool #786701 2.50% 3/20/2052 <sup>(a)</sup>  | 921 | 794 |
| Government National Mortgage Assn. Pool #785998 2.50% 3/20/2052 <sup>(a)</sup>  | 726 | 621 |
| Government National Mortgage Assn. Pool #MA7937 3.00% 3/20/2052 <sup>(a)</sup>  | 230 | 206 |
| Government National Mortgage Assn. Pool #MA7987 2.50% 4/20/2052 <sup>(a)</sup>  | 847 | 730 |
| Government National Mortgage Assn. Pool #MA7988 3.00% 4/20/2052 <sup>(a)</sup>  | 180 | 161 |
| Government National Mortgage Assn. Pool #MA8044 3.50% 5/20/2052 <sup>(a)</sup>  | 2053 | 1890 |
| Government National Mortgage Assn. Pool #MA8199 3.50% 8/20/2052 <sup>(a)</sup>  | 636 | 583 |
| Government National Mortgage Assn. Pool #MA8266 3.50% 9/20/2052 <sup>(a)</sup>  | 3908 | 3579 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052 <sup>(a)</sup>  | 299 | 284 |
| Government National Mortgage Assn. Pool #MA8567 4.00% 1/20/2053 <sup>(a)</sup>  | 408 | 388 |
| Government National Mortgage Assn. Pool #MA8723 4.00% 3/20/2053 <sup>(a)</sup>  | 203 | 193 |
| Government National Mortgage Assn. Pool #MA8947 5.00% 6/20/2053 <sup>(a)</sup>  | 51 | 51 |
| Government National Mortgage Assn. Pool #MA9015 4.50% 7/20/2053 <sup>(a)</sup>  | 4192 | 4086 |
| Government National Mortgage Assn. Pool #MA9104 4.50% 8/20/2053 <sup>(a)</sup>  | 2691 | 2619 |
| Government National Mortgage Assn. Pool #MA9169 4.50% 9/20/2053 <sup>(a)</sup>  | 1134 | 1104 |
| Government National Mortgage Assn. Pool #MA9776 4.00% 7/20/2054 <sup>(a)</sup>  | 4365 | 4130 |
| Government National Mortgage Assn. Pool #MB0024 4.50% 11/20/2054 <sup>(a)</sup>  | 1378 | 1338 |
| Government National Mortgage Assn. Pool #MB0144 4.00% 1/20/2055 <sup>(a)</sup>  | 7490 | 7050 |
| Government National Mortgage Assn. Pool #MB0202 4.00% 2/20/2055 <sup>(a)</sup>  | 2806 | 2640 |
| Government National Mortgage Assn. Pool #MB0205 5.50% 2/20/2055 <sup>(a)</sup>  | 557 | 561 |
| Government National Mortgage Assn. Pool #MB0424 5.50% 6/20/2055 <sup>(a)</sup>  | 997 | 1006 |
| Government National Mortgage Assn. Pool #MB0485 5.50% 7/20/2055 <sup>(a)</sup>  | 345 | 348 |
| Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/2063 <sup>(a)</sup>  | 422 | 314 |
| Uniform Mortgage-Backed Security 2.00% 10/1/2040 <sup>(a)(d)</sup>  | 949 | 872 |
| Uniform Mortgage-Backed Security 4.00% 10/1/2040 <sup>(a)(d)</sup>  | 920 | 905 |
| Uniform Mortgage-Backed Security 5.00% 10/1/2040 <sup>(a)(d)</sup>  | 780 | 788 |
| Uniform Mortgage-Backed Security 2.00% 11/1/2040 <sup>(a)(d)</sup>  | 166 | 153 |
| Uniform Mortgage-Backed Security 2.50% 10/1/2055 <sup>(a)(d)</sup>  | 3472 | 2926 |
| Uniform Mortgage-Backed Security 3.50% 10/1/2055 <sup>(a)(d)</sup>  | 16326 | 14918 |
| Uniform Mortgage-Backed Security 4.50% 10/1/2055 <sup>(a)(d)</sup>  | 4 | 4 |
| Uniform Mortgage-Backed Security 5.50% 10/1/2055 <sup>(a)(d)</sup>  | 4542 | 4580 |
| Uniform Mortgage-Backed Security 6.00% 10/1/2055 <sup>(a)(d)</sup>  | 19518 | 19942 |
| Uniform Mortgage-Backed Security 6.50% 10/1/2055 <sup>(a)(d)</sup>  | 29139 | 30117 |
| Uniform Mortgage-Backed Security 7.00% 10/1/2055 <sup>(a)(d)</sup>  | 15590 | 16309 |
| Uniform Mortgage-Backed Security 2.50% 11/1/2055 <sup>(a)(d)</sup>  | 1328 | 1119 |
| Uniform Mortgage-Backed Security 5.50% 11/1/2055 <sup>(a)(d)</sup>  | 2063 | 2079 |
| Uniform Mortgage-Backed Security 6.50% 11/1/2055 <sup>(a)(d)</sup>  | 50559 | 52284 |
|  |  | 847819 |

---

American Funds Insurance Series — Page 286 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **Mortgage-backed obligations (continued)**<br> **Collateralized mortgage-backed obligations 0.05%**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| FARM Mortgage Trust, Series 2024-1, Class A, 4.694% 10/1/2053 <sup>(a)(c)(e)</sup>  | USD965 | $942 |
| **Total mortgage-backed obligations** |  | 848761 |
| **U.S. Treasury bonds & notes 40.12%**<br> **U.S. Treasury 36.04%**<br>|  |  |
| U.S. Treasury 3.00% 10/31/2025  | 1395 | 1394 |
| U.S. Treasury 4.25% 12/31/2025  | 17685 | 17699 |
| U.S. Treasury 4.25% 1/31/2026  | 5535 | 5540 |
| U.S. Treasury 4.625% 2/28/2026  | 9375 | 9402 |
| U.S. Treasury 4.625% 3/15/2026  | 11050 | 11089 |
| U.S. Treasury 4.50% 3/31/2026  | 1435 | 1440 |
| U.S. Treasury 4.875% 4/30/2026  | 35525 | 35742 |
| U.S. Treasury 0.875% 6/30/2026  | 2065 | 2021 |
| U.S. Treasury 4.50% 7/15/2026  | 10366 | 10426 |
| U.S. Treasury 4.375% 7/31/2026  | 25795 | 25922 |
| U.S. Treasury 4.625% 9/15/2026  | 10209 | 10295 |
| U.S. Treasury 3.50% 9/30/2026  | 11100 | 11078 |
| U.S. Treasury 3.875% 3/31/2027  | 23000 | 23072 |
| U.S. Treasury 4.50% 4/15/2027  | 30000 | 30373 |
| U.S. Treasury 0.50% 4/30/2027  | 1250 | 1190 |
| U.S. Treasury 2.625% 5/31/2027  | 2290 | 2252 |
| U.S. Treasury 3.75% 6/30/2027  | 33220 | 33284 |
| U.S. Treasury 3.875% 7/31/2027  | 10000 | 10042 |
| U.S. Treasury 3.75% 8/15/2027  | 5043 | 5054 |
| U.S. Treasury 3.625% 8/31/2027  | 2945 | 2945 |
| U.S. Treasury 4.25% 2/15/2028  | 48655 | 49353 |
| U.S. Treasury 3.625% 5/31/2028  | 14850 | 14853 |
| U.S. Treasury 1.25% 6/30/2028  | 3325 | 3120 |
| U.S. Treasury 4.00% 6/30/2028  | 6907 | 6975 |
| U.S. Treasury 1.00% 7/31/2028  | 970 | 902 |
| U.S. Treasury 4.125% 7/31/2028  | 17685 | 17920 |
| U.S. Treasury 2.625% 2/15/2029  | 3270 | 3165 |
| U.S. Treasury 4.50% 5/31/2029  | 825 | 848 |
| U.S. Treasury 2.625% 7/31/2029  | 9309 | 8962 |
| U.S. Treasury 4.00% 7/31/2029  | 15070 | 15238 |
| U.S. Treasury 4.125% 10/31/2029  | 4800 | 4877 |
| U.S. Treasury 4.125% 11/30/2029  | 10200 | 10365 |
| U.S. Treasury 4.375% 12/31/2029  | 23475 | 24085 |
| U.S. Treasury 4.00% 2/28/2030  | 11270 | 11401 |
| U.S. Treasury 4.00% 3/31/2030  | 15000 | 15173 |
| U.S. Treasury 3.75% 6/30/2030  | 17030 | 17038 |
| U.S. Treasury 3.875% 6/30/2030  | 6000 | 6037 |
| U.S. Treasury 4.00% 7/31/2030  | 1185 | 1198 |
| U.S. Treasury 4.625% 9/30/2030  | 1290 | 1341 |
| U.S. Treasury 4.875% 10/31/2030  | 625 | 657 |
| U.S. Treasury 4.25% 6/30/2031  | 9625 | 9838 |
| U.S. Treasury 4.125% 11/30/2031  | 3240 | 3287 |
| U.S. Treasury 4.125% 2/29/2032  | 9305 | 9432 |
| U.S. Treasury 4.125% 3/31/2032  | 3000 | 3040 |
| U.S. Treasury 4.125% 5/31/2032  | 10295 | 10427 |
| U.S. Treasury 4.00% 6/30/2032  | 16910 | 17001 |
| U.S. Treasury 2.75% 8/15/2032  | 8095 | 7527 |
| U.S. Treasury 3.875% 8/15/2033  | 3180 | 3155 |
| U.S. Treasury 4.375% 5/15/2034  | 1687 | 1726 |

---

American Funds Insurance Series — Page 287 of 319

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. Treasury bonds & notes (continued)**<br> **U.S. Treasury (continued)**<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| U.S. Treasury 3.875% 8/15/2034  | USD1,970 | $1940 |
| U.S. Treasury 4.25% 11/15/2034  | 1790 | 1810 |
| U.S. Treasury 4.625% 2/15/2035  | 5000 | 5197 |
| U.S. Treasury 4.25% 5/15/2035  | 1800 | 1817 |
| U.S. Treasury 4.25% 8/15/2035  | 5315 | 5358 |
| U.S. Treasury 4.50% 8/15/2039 <sup>(f)</sup>  | 13655 | 13759 |
| U.S. Treasury 4.625% 2/15/2040  | 90 | 92 |
| U.S. Treasury 1.375% 11/15/2040  | 1945 | 1270 |
| U.S. Treasury 3.875% 5/15/2043  | 820 | 743 |
| U.S. Treasury 4.375% 8/15/2043  | 40 | 39 |
| U.S. Treasury 4.50% 2/15/2044  | 3780 | 3697 |
| U.S. Treasury 4.125% 8/15/2044  | 11760 | 10919 |
| U.S. Treasury 2.50% 2/15/2045  | 4850 | 3475 |
| U.S. Treasury 5.00% 5/15/2045  | 8955 | 9300 |
| U.S. Treasury 2.50% 2/15/2046  | 3900 | 2752 |
| U.S. Treasury 2.50% 5/15/2046  | 1585 | 1115 |
| U.S. Treasury 2.875% 11/15/2046  | 2700 | 2021 |
| U.S. Treasury 3.00% 8/15/2048  | 750 | 564 |
| U.S. Treasury 2.375% 11/15/2049  | 1435 | 939 |
| U.S. Treasury 1.25% 5/15/2050  | 14825 | 7273 |
| U.S. Treasury 1.375% 8/15/2050  | 4330 | 2177 |
| U.S. Treasury 1.625% 11/15/2050 <sup>(f)</sup>  | 26165 | 14038 |
| U.S. Treasury 1.875% 2/15/2051  | 5892 | 3364 |
| U.S. Treasury 2.375% 5/15/2051  | 6280 | 4040 |
| U.S. Treasury 2.00% 8/15/2051  | 5226 | 3061 |
| U.S. Treasury 1.875% 11/15/2051  | 3164 | 1790 |
| U.S. Treasury 3.00% 8/15/2052  | 895 | 655 |
| U.S. Treasury 4.00% 11/15/2052  | 1849 | 1636 |
| U.S. Treasury 4.75% 11/15/2053  | 205 | 205 |
| U.S. Treasury 4.25% 2/15/2054 <sup>(f)</sup>  | 11130 | 10273 |
| U.S. Treasury 4.625% 5/15/2054  | 5610 | 5511 |
| U.S. Treasury 4.25% 8/15/2054  | 50 | 46 |
| U.S. Treasury 4.625% 2/15/2055  | 7370 | 7243 |
| U.S. Treasury 4.75% 8/15/2055 <sup>(f)</sup>  | 18325 | 18388 |
| U.S. Treasury, interest only, 0% 11/15/2040 <sup>(f)</sup>  | 1110 | 544 |
|  |  | 676252 |
| **U.S. Treasury inflation-protected securities 4.08%** |  |  |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2026 <sup>(g)</sup>  | 9544 | 9494 |
| U.S. Treasury Inflation-Protected Security 0.125% 4/15/2027 <sup>(g)</sup>  | 2937 | 2896 |
| U.S. Treasury Inflation-Protected Security 1.625% 10/15/2029 <sup>(g)</sup>  | 37030 | 37773 |
| U.S. Treasury Inflation-Protected Security 0.125% 7/15/2031 <sup>(g)</sup>  | 1085 | 1013 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2032 <sup>(g)</sup>  | 3373 | 3106 |
| U.S. Treasury Inflation-Protected Security 1.875% 7/15/2034 <sup>(g)</sup>  | 7320 | 7428 |
| U.S. Treasury Inflation-Protected Security 2.125% 2/15/2041 <sup>(g)</sup>  | 140 | 140 |
| U.S. Treasury Inflation-Protected Security 0.75% 2/15/2042 <sup>(f)(g)</sup>  | 1494 | 1185 |
| U.S. Treasury Inflation-Protected Security 0.625% 2/15/2043 <sup>(g)</sup>  | 1742 | 1324 |
| U.S. Treasury Inflation-Protected Security 1.00% 2/15/2049 <sup>(g)</sup>  | 321 | 237 |
| U.S. Treasury Inflation-Protected Security 0.25% 2/15/2050 <sup>(g)</sup>  | 365 | 216 |
| U.S. Treasury Inflation-Protected Security 0.125% 2/15/2051 <sup>(g)</sup>  | 143 | 79 |
| U.S. Treasury Inflation-Protected Security 1.50% 2/15/2053 <sup>(g)</sup>  | 808 | 647 |

---

American Funds Insurance Series — Page 288 of 319

------

**unaudited**

---

| | | | |
|:---|:---|:---|:---|
| Bonds, notes & other debt instruments (continued)<br> **U.S. Treasury bonds & notes (continued)**<br> **U.S. Treasury inflation-protected securities (continued)**<br>|  | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| U.S. Treasury Inflation-Protected Security 2.125% 2/15/2054 <sup>(g)</sup>  | U.S. Treasury Inflation-Protected Security 2.125% 2/15/2054 <sup>(g)</sup>  | USD2,331 | $2153 |
| U.S. Treasury Inflation-Protected Security 2.375% 2/15/2055 <sup>(f)(g)</sup>  | U.S. Treasury Inflation-Protected Security 2.375% 2/15/2055 <sup>(f)(g)</sup>  | 9047 | 8836 |
|  |  |  | 76527 |
| **Total U.S. Treasury bonds & notes** |  |  | 752779 |
| **Federal agency bonds & notes 2.59%** |  |  |  |
| Export-Import Bank of the United States-Guaranteed, Ethiopian Leasing 2012, LLC 2.646% 5/12/2026  | Export-Import Bank of the United States-Guaranteed, Ethiopian Leasing 2012, LLC 2.646% 5/12/2026  | 69 | 68 |
| Fannie Mae 7.125% 1/15/2030  | Fannie Mae 7.125% 1/15/2030  | 2000 | 2268 |
| Federal Home Loan Bank 3.25% 11/16/2028  | Federal Home Loan Bank 3.25% 11/16/2028  | 6500 | 6425 |
| Federal Home Loan Bank 5.50% 7/15/2036  | Federal Home Loan Bank 5.50% 7/15/2036  | 300 | 329 |
| Private Export Funding Corp. 1.40% 7/15/2028  | Private Export Funding Corp. 1.40% 7/15/2028  | 3000 | 2813 |
| Tennessee Valley Authority 2.875% 2/1/2027  | Tennessee Valley Authority 2.875% 2/1/2027  | 5000 | 4944 |
| Tennessee Valley Authority 4.875% 5/15/2035  | Tennessee Valley Authority 4.875% 5/15/2035  | 2445 | 2528 |
| Tennessee Valley Authority 4.65% 6/15/2035  | Tennessee Valley Authority 4.65% 6/15/2035  | 1780 | 1819 |
| Tennessee Valley Authority 5.88% 4/1/2036  | Tennessee Valley Authority 5.88% 4/1/2036  | 875 | 981 |
| Tennessee Valley Authority, Series A, 4.625% 9/15/2060  | Tennessee Valley Authority, Series A, 4.625% 9/15/2060  | 250 | 220 |
| Tennessee Valley Authority, Southaven Combined Cycle Generation, LLC, 3.846% 8/15/2033  | Tennessee Valley Authority, Southaven Combined Cycle Generation, LLC, 3.846% 8/15/2033  | 660 | 637 |
| U.S. Agency for International Development, Morocco (Kingdom of) 7.55% 7/15/2026  | U.S. Agency for International Development, Morocco (Kingdom of) 7.55% 7/15/2026  | 645 | 654 |
| U.S. Department of Housing and Urban Development, Series 2015-A-12, 3.10% 8/1/2026  | U.S. Department of Housing and Urban Development, Series 2015-A-12, 3.10% 8/1/2026  | 2200 | 2181 |
| U.S. Department of Housing and Urban Development, Series 2015-A-13, 3.15% 8/1/2027  | U.S. Department of Housing and Urban Development, Series 2015-A-13, 3.15% 8/1/2027  | 10250 | 10095 |
| U.S. Department of Housing and Urban Development, Series 2015-A-14, 3.25% 8/1/2028  | U.S. Department of Housing and Urban Development, Series 2015-A-14, 3.25% 8/1/2028  | 3064 | 3015 |
| U.S. Department of Housing and Urban Development, Series 2015-A-15, 3.35% 8/1/2029  | U.S. Department of Housing and Urban Development, Series 2015-A-15, 3.35% 8/1/2029  | 2020 | 1979 |
| U.S. Department of Housing and Urban Development, Series 2015-A-16, 3.50% 8/1/2030  | U.S. Department of Housing and Urban Development, Series 2015-A-16, 3.50% 8/1/2030  | 1773 | 1722 |
| U.S. Department of Housing and Urban Development, Series 2015-A-17, 3.55% 8/1/2031  | U.S. Department of Housing and Urban Development, Series 2015-A-17, 3.55% 8/1/2031  | 2074 | 1994 |
| U.S. Department of Housing and Urban Development, Series 2015-A-18, 3.60% 8/1/2032  | U.S. Department of Housing and Urban Development, Series 2015-A-18, 3.60% 8/1/2032  | 2167 | 2052 |
| U.S. Department of Housing and Urban Development, Series 2015-A-19, 3.65% 8/1/2033  | U.S. Department of Housing and Urban Development, Series 2015-A-19, 3.65% 8/1/2033  | 1639 | 1543 |
| U.S. Department of Housing and Urban Development, Series 2015-A-20, 3.70% 8/1/2034  | U.S. Department of Housing and Urban Development, Series 2015-A-20, 3.70% 8/1/2034  | 330 | 308 |
|  |  |  | 48575 |
| **Total bonds, notes & other debt instruments** (cost: $1,672,637,000) |  |  | 1650115 |
| Short-term securities 18.97%<br> **Commercial paper 16.09%**<br>| Weighted<br> average yield<br> at acquisition<br>|  |  |
| ADP Tax Services, Inc. 10/1/2025 <sup>(e)</sup> <br>| 4.110<br> %<br>| 3500 | 3500 |
| Alphabet, Inc. 12/5/2025 <sup>(e)</sup> <br>| 4.050 | 10000 | 9926 |
| Apple, Inc. 11/17/2025 <sup>(e)</sup> <br>| 4.000 | 38500 | 38294 |
| Atlantic Industries 10/17/2025 <sup>(e)</sup> <br>| 4.120 | 11700 | 11677 |
| Cabot Trail Funding, LLC. 10/1/2025 <sup>(e)</sup> <br>| 4.080 | 12700 | 12699 |
| CAFCO, LLC 1/14/2026 <sup>(e)</sup> <br>| 4.040 | 10000 | 9882 |
| Chariot Funding, LLC 10/16/2025 <sup>(e)</sup> <br>| 4.320 | 20100 | 20063 |
| CHARTA, LLC 11/18/2025 <sup>(e)</sup> <br>| 4.220 | 19000 | 18893 |
| CRC Funding, LLC 12/12/2025 <sup>(e)</sup> <br>| 4.160 | 10000 | 9917 |
| Essilor International 11/17/2025 <sup>(e)</sup> <br>| 4.240 | 8000 | 7957 |
| Komatsu Finance America, Inc. 10/15/2025 <sup>(e)</sup> <br>| 4.200 | 16000 | 15973 |
| Liberty Street Funding, LLC 10/22/2025 <sup>(e)</sup> <br>| 4.321 | 8500 | 8478 |
| Linde, Inc. 10/10/2025  | 4.190 | 12800 | 12785 |
| Linde, Inc. 12/1/2025  | 4.030 | 15000 | 14898 |
| LVMH Moet Hennessy Louis Vuitton, Inc. 10/1/2025 <sup>(e)</sup> <br>| 4.310 | 5000 | 4999 |
| Manhattan Asset Funding Company, LLC 11/12/2025 <sup>(e)</sup> <br>| 4.150 | 10000 | 9951 |
| Nestle Finance International, Ltd. 10/17/2025 <sup>(e)</sup> <br>| 4.300 | 10500 | 10480 |
| Paccar Financial Corp. 10/3/2025  | 4.286 | 12600 | 12596 |
| Paccar Financial Corp. 10/29/2025  | 4.080 | 9000 | 8970 |

---

American Funds Insurance Series — Page 289 of 319

------

**unaudited**

---

| | | | |
|:---|:---|:---|:---|
| Short-term securities (continued)<br> **Commercial paper (continued)**<br>| Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| Procter & Gamble Co. 10/20/2025 <sup>(e)</sup> <br>| 4.310<br> %<br>| USD20,000 | $19955 |
| Prudential Funding, LLC 10/3/2025  | 4.300 | 20000 | 19993 |
| Wal-Mart Stores, Inc. 10/14/2025 <sup>(e)</sup> <br>| 4.085 | 20050 | 20018 |
|  |  |  | 301904 |
| **Federal agency bills & notes 1.82%** |  |  |  |
| Federal Home Loan Bank 10/1/2025  | 4.263 | 5000 | 5000 |
| Federal Home Loan Bank 10/24/2025  | 4.145 | 17400 | 17357 |
| Federal Home Loan Bank 1/23/2026  | 3.842 | 11960 | 11817 |
|  |  |  | 34174 |
| **Bonds & notes of governments & government agencies outside the U.S. 1.06%** |  |  |  |
| KfW International Finance, Inc. 10/30/2025 <sup>(e)</sup> <br>| 4.250 | 20000 | 19933 |
| **Total short-term securities** (cost: $356,022,000) |  |  | 356011 |
| Options purchased (equity style) 0.00% |  |  |  |
| Options purchased (equity style)\* |  |  | 36 |
| **Total options purchased (equity style)** (cost: $413,000) |  |  | 36 |
| **Total investment securities 106.91%** (cost: $2,028,659,000) |  |  | 2006162 |
| **Other assets less liabilities (6.91)%** |  |  | (129602)<br>|
| **Net assets 100.00%** |  |  | $1876560 |

---

<sup>\*</sup>Options purchased (equity style)

------

**Options on futures** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Call** |  |  |  |  |  |
| 3 Month SOFR Futures Option | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD96.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD26,500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $7 |
| 3 Month SOFR Futures Option | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| 3 Month SOFR Futures Option | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| 3 Month SOFR Futures Option | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $12 |
| **Put** |  |  |  |  |  |
| 3 Month SOFR Futures Option | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD95.69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD942,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $24 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $36 |

---

American Funds Insurance Series — Page 290 of 319

------

**unaudited**

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&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;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 30 Day Federal Funds Futures | Long | 253 | 11/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD101,124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(32)<br>|
| 3 Month SOFR Futures | Long | 255 | 3/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 |
| 3 Month SOFR Futures | Long | 3 | 6/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| 3 Month SOFR Futures | Long | 176 | 9/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 5458 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1137439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181 |
| 5 Year U.S. Treasury Note Futures | Long | 2740 | 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 122 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14040)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28 |
| 10 Year U.S. Treasury Note Futures | Short | 582 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (65475)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148 |
| 20 Year U.S. Treasury Note Futures | Long | 183 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 455 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 297 | 12/31/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1710 |

---

Swap contracts

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| SOFR | Annual | 4.63358% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/31/2025 | USD1,381 | &nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(b)</sup><br>|
| 4.2035% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/10/2026 | 11197 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| 4.184% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/10/2026 | 11198 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| 4.2045% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/10/2026 | 1020 | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(b)</sup><br>|
| 4.27% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/16/2026 | 9621 | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10 |
| 4.265% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/16/2026 | 4777 | &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| 4.3035% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/17/2026 | 2874 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| 4.2515% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/17/2026 | 2847 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| 4.2675% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/17/2026 | 2771 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| 4.3005% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/17/2026 | 1989 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| 4.288% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/17/2026 | 2021 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| 4.56% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/2026 | 27400 | &nbsp;&nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 67 |
| 4.568% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/2026 | 27000 | &nbsp;&nbsp;&nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 66 |
| 4.6275% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | 49370 | &nbsp;&nbsp;&nbsp;&nbsp; 157 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 157 |
| 4.9005% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/17/2026 | 14100 | &nbsp;&nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 76 |
| 4.815% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/6/2026 | 31500 | &nbsp;&nbsp;&nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 176 |
| 4.723% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/7/2026 | 30490 | &nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 155 |
| 4.659% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/17/2026 | 45400 | &nbsp;&nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 230 |
| SOFR | Annual | 4.528% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/18/2026 | 2700 | &nbsp;&nbsp;&nbsp;&nbsp; (14)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
| 3.5405% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/23/2027 | 12100 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| 3.535% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/23/2027 | 13000 | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(b)</sup><br>|
| 3.53% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/23/2027 | 7300 | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(b)</sup><br>|
| SOFR | Annual | 4.186% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/18/2027 | 54150 | &nbsp;&nbsp;&nbsp;&nbsp; (486)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (486)<br>|
| 3.7645% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/20/2027 | 23600 | &nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 80 |
| 3.761% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/20/2027 | 11800 | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 40 |
| 4.5895% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/6/2027 | 22710 | &nbsp;&nbsp;&nbsp;&nbsp; 394 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 394 |
| SOFR | Annual | 3.41338% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/30/2027 | 8149 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| SOFR | Annual | 3.62% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/30/2027 | 7849 | &nbsp;&nbsp;&nbsp;&nbsp; (26)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (26)<br>|

---

American Funds Insurance Series — Page 291 of 319

------

**unaudited**

Swap contracts (continued)

------

**Interest rate swaps (continued)**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at<br> 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront<br> premium<br> paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(received)<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment<br> frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment<br> frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at<br> 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront<br> premium<br> paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(received)<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) |
| 3.45% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/1/2028 | 12500 | &nbsp;&nbsp;&nbsp;&nbsp; $24 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $24 |
| 3.47% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/2/2028 | 11600 | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 27 |
| 3.6475% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/27/2028 | 19700 | &nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 155 |
| SOFR | Annual | 3.528% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/29/2030 | 4000 | &nbsp;&nbsp;&nbsp;&nbsp; (27)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (27)<br>|
| SOFR | Annual | 3.529% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/29/2030 | 4800 | &nbsp;&nbsp;&nbsp;&nbsp; (33)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (33)<br>|
| SOFR | Annual | 3.5485% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/29/2030 | 5200 | &nbsp;&nbsp;&nbsp;&nbsp; (40)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (40)<br>|
| U.S. EFFR | Annual | 0.5385% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/26/2030 | 49000 | &nbsp;&nbsp;&nbsp;&nbsp; 5621 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5621 |
| 3.18% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/17/2030 | 2600 | &nbsp;&nbsp;&nbsp;&nbsp; (20)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| 3.275% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/18/2030 | 2600 | &nbsp;&nbsp;&nbsp;&nbsp; (10)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (10)<br>|
| 3.353% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/19/2030 | 2600 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| 3.342% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/19/2030 | 2600 | &nbsp;&nbsp;&nbsp;&nbsp; (3)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| 3.344% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/20/2030 | 2600 | &nbsp;&nbsp;&nbsp;&nbsp; (2)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| 3.128% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/28/2030 | 2600 | &nbsp;&nbsp;&nbsp;&nbsp; (26)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (26)<br>|
| 3.285% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/2030 | 2500 | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| 3.259% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/2030 | 2600 | &nbsp;&nbsp;&nbsp;&nbsp; (12)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (12)<br>|
| 3.186% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/9/2030 | 2600 | &nbsp;&nbsp;&nbsp;&nbsp; (20)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| 3.215% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/10/2030 | 2500 | &nbsp;&nbsp;&nbsp;&nbsp; (16)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (16)<br>|
| 3.29% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/19/2030 | 3100 | &nbsp;&nbsp;&nbsp;&nbsp; (10)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (10)<br>|
| 3.31% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/9/2030 | 26800 | &nbsp;&nbsp;&nbsp;&nbsp; (69)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (69)<br>|
| 2.665% | At maturity | U.S. Urban CPI | At maturity | &nbsp;&nbsp;&nbsp;&nbsp; 8/18/2030 | 5938 | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| 2.625% | At maturity | U.S. Urban CPI | At maturity | &nbsp;&nbsp;&nbsp;&nbsp; 8/21/2030 | 5941 | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (9)<br>|
| 2.6825% | At maturity | U.S. Urban CPI | At maturity | &nbsp;&nbsp;&nbsp;&nbsp; 8/27/2030 | 5877 | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9 |
| 2.755% | At maturity | U.S. Urban CPI | At maturity | &nbsp;&nbsp;&nbsp;&nbsp; 8/29/2030 | 5900 | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 30 |
| U.S. EFFR | Annual | 0.666% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/19/2030 | 15500 | &nbsp;&nbsp;&nbsp;&nbsp; 1941 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1941 |
| SOFR | Annual | 3.326% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 9/19/2032 | 10880 | &nbsp;&nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 107 |
| SOFR | Annual | 3.4225% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 9/22/2032 | 10938 | &nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 42 |
| SOFR | Annual | 4.1615% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/2033 | 330 | &nbsp;&nbsp;&nbsp;&nbsp; (14)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
| SOFR | Annual | 4.15% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/2033 | 880 | &nbsp;&nbsp;&nbsp;&nbsp; (37)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (37)<br>|
| 4.0135% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 8/21/2033 | 1185 | &nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 39 |
| SOFR | Annual | 3.6025% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/8/2034 | 4655 | &nbsp;&nbsp;&nbsp;&nbsp; (14)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
| SOFR | Annual | 3.7175% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 8/8/2035 | 1180 | &nbsp;&nbsp;&nbsp;&nbsp; (7)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| SOFR | Annual | 3.175% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/1/2038 | 16000 | &nbsp;&nbsp;&nbsp;&nbsp; 883 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 883 |
| 3.065% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/7/2040 | 12300 | &nbsp;&nbsp;&nbsp;&nbsp; (1096)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1096)<br>|
| 3.616% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 8/5/2044 | 5600 | &nbsp;&nbsp;&nbsp;&nbsp; (255)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (255)<br>|
| 3.561% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 8/9/2044 | 4800 | &nbsp;&nbsp;&nbsp;&nbsp; (254)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (254)<br>|
| SOFR | Annual | 3.9815% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/6/2044 | 10330 | &nbsp;&nbsp;&nbsp;&nbsp; (34)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (34)<br>|
| SOFR | Annual | 3.045% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 7/27/2050 | 3600 | &nbsp;&nbsp;&nbsp;&nbsp; 530 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 530 |
| SOFR | Annual | 2.85282% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/6/2052 | 540 | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 100 |
| SOFR | Annual | 2.93542% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/6/2052 | 550 | &nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 94 |
| SOFR | Annual | 3.01413% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/12/2053 | 1402 | &nbsp;&nbsp;&nbsp;&nbsp; 221 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 221 |
| SOFR | Annual | 3.02% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/12/2053 | 1400 | &nbsp;&nbsp;&nbsp;&nbsp; 220 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 220 |
| SOFR | Annual | 2.974% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/17/2053 | 800 | &nbsp;&nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 132 |
| SOFR | Annual | 3.044% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/18/2053 | 800 | &nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 123 |
| SOFR | Annual | 3.0875% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/19/2053 | 800 | &nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 117 |
| SOFR | Annual | 3.1035% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/19/2053 | 800 | &nbsp;&nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 115 |
| SOFR | Annual | 3.0895% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/20/2053 | 800 | &nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 117 |
| SOFR | Annual | 2.9405% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/28/2053 | 800 | &nbsp;&nbsp;&nbsp;&nbsp; 137 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 137 |
| SOFR | Annual | 3.0535% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/2053 | 1600 | &nbsp;&nbsp;&nbsp;&nbsp; 243 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 243 |

---

American Funds Insurance Series — Page 292 of 319

------

**unaudited**

Swap contracts (continued)

------

**Interest rate swaps (continued)**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at<br> 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront<br> premium<br> paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(received)<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment<br> frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payment<br> frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at<br> 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront<br> premium<br> paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(received)<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) |
| SOFR | Annual | 3.085% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/9/2053 | USD900 | &nbsp;&nbsp;&nbsp;&nbsp; $132 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $132 |
| SOFR | Annual | 3.1135% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/10/2053 | 800 | &nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 113 |
| SOFR | Annual | 3.1605% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/19/2053 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 134 |
| SOFR | Annual | 3.6765% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/20/2054 | 2019 | &nbsp;&nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 94 |
| SOFR | Annual | 3.6815% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/20/2054 | 1510 | &nbsp;&nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 69 |
| SOFR | Annual | 3.7205% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 2/21/2054 | 520 | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 20 |
| SOFR | Annual | 3.47875% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 8/5/2054 | 4200 | &nbsp;&nbsp;&nbsp;&nbsp; 337 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 337 |
| SOFR | Annual | 3.415% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 8/9/2054 | 3700 | &nbsp;&nbsp;&nbsp;&nbsp; 338 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 338 |
| SOFR | Annual | 3.9745% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 8/5/2055 | 570 | &nbsp;&nbsp;&nbsp;&nbsp; (4)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $11196 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $11196 |

---

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

<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 $253,537,000, which represented 13.51% of the net assets of the fund. 

<sup>(f)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $14,791,000, which represented 0.79% of the net assets of the fund. 

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

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| Assn. = Association |
| CPI = Consumer Price Index |
| EFFR = Effective Federal Funds Rate |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |

---

American Funds Insurance Series — Page 293 of 319

------

**Managed Risk Growth Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Growth funds 84.74% | Shares | Value<br> (000)<br>|
| American Funds Insurance Series – Growth Fund, Class 1  | 3208456 | $445558 |
| **Total growth funds** (cost: $308,568,000) |  | 445558 |
| Fixed income funds 9.97% |  |  |
| American Funds Insurance Series – The Bond Fund of America, Class 1  | 5368659 | 52398 |
| **Total fixed income funds** (cost: $51,307,000) |  | 52398 |
| Short-term securities 4.82% |  |  |
| State Street Institutional U.S. Government Money Market Fund - Premier Class 4.09% <sup>(a)</sup>  | 25341180 | 25341 |
| **Total short-term securities** (cost: $25,341,000) |  | 25341 |
| Options purchased (equity style) 0.31% |  |  |
| Options purchased (equity style)\* |  | 1621 |
| **Total options purchased** (cost: $4,499,000) |  | 1621 |
| **Total investment securities 99.84%** (cost: $389,715,000) |  | 524918 |
| **Other assets less liabilities 0.16%** |  | 842 |
| **Net assets 100.00%** |  | $525760 |

---

\*Options purchased (equity style)

------

**Equity index options** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD6,689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,225.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4325.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4350.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4375.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4275.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 739 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4375.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4500.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4650.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4750.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4775.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27 |

---

American Funds Insurance Series — Page 294 of 319

------

**unaudited**

\*Options purchased (equity style) (continued)

------

**Equity index options (continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise<br> price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at<br> 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD13,377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,825.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $57 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4850.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 73 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4900.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4625.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1621 |

---

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| S&P 500 E-mini Index Futures | Long | 57 | 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD19,205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $265 |

---

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

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth funds 84.74%** | **Growth funds 84.74%** | **Growth funds 84.74%** | **Growth funds 84.74%** | **Growth funds 84.74%** | **Growth funds 84.74%** | **Growth funds 84.74%** | **Growth funds 84.74%** | **Growth funds 84.74%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds Insurance Series – <br>Growth Fund, Class 1 <br>| $445562 | &nbsp;&nbsp; $112600 | &nbsp;&nbsp; $154274 | &nbsp;&nbsp; $58656 | &nbsp;&nbsp; $(16986)<br>| &nbsp;&nbsp; $445558 | &nbsp;&nbsp; $852 | &nbsp;&nbsp; $34295 |
| **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds Insurance Series – <br>The Bond Fund of America, Class 1 <br>| 52786 | &nbsp;&nbsp; 34607 | &nbsp;&nbsp; 37634 | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 2549 | &nbsp;&nbsp; 52398 | &nbsp;&nbsp; 457 | &nbsp;&nbsp; — |
| **Total 94.71%** |  |  |  | &nbsp;&nbsp; $58746 | &nbsp;&nbsp; $(14437)<br>| &nbsp;&nbsp; $497956 | &nbsp;&nbsp; $1309 | &nbsp;&nbsp; $34295 |

---

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

<sup>(a)</sup> Rate represents the seven-day yield at 9/30/2025. <br> <sup>(b)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| USD = U.S. dollars |

---

American Funds Insurance Series — Page 295 of 319

------

**Managed Risk International Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Growth funds 84.92% | Shares | Value<br> (000)<br>|
| American Funds Insurance Series – International Fund, Class 1  | 4589526 | $99684 |
| **Total growth funds** (cost: $72,600,000) |  | 99684 |
| Fixed income funds 9.97% |  |  |
| American Funds Insurance Series – The Bond Fund of America, Class 1  | 1199524 | 11707 |
| **Total fixed income funds** (cost: $11,411,000) |  | 11707 |
| Short-term securities 4.66% |  |  |
| State Street Institutional U.S. Government Money Market Fund - Premier Class 4.09% <sup>(a)</sup>  | 5472706 | 5473 |
| **Total short-term securities** (cost: $5,473,000) |  | 5473 |
| Options purchased (equity style) 0.38% |  |  |
| Options purchased (equity style)\* |  | 452 |
| **Total options purchased** (cost: $810,000) |  | 452 |
| **Total investment securities 99.93%** (cost: $90,294,000) |  | 117316 |
| **Other assets less liabilities 0.07%** |  | 78 |
| **Net assets 100.00%** |  | $117394 |

---

\*Options purchased (equity style)

------

**Equity index options** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD14,006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD65.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $16 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| iShares MSCI EAFE ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $452 |

---

American Funds Insurance Series — Page 296 of 319

------

**unaudited**

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| MSCI EAFE Index Futures | Long | 32 | 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(19)<br>|

---

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

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth funds 84.92%** | **Growth funds 84.92%** | **Growth funds 84.92%** | **Growth funds 84.92%** | **Growth funds 84.92%** | **Growth funds 84.92%** | **Growth funds 84.92%** | **Growth funds 84.92%** | **Growth funds 84.92%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds Insurance Series – <br>International Fund, Class 1 <br>| $96701 | &nbsp;&nbsp; $9611 | &nbsp;&nbsp; $25803 | &nbsp;&nbsp; $4171 | &nbsp;&nbsp; $15004 | &nbsp;&nbsp; $99684 | &nbsp;&nbsp; $101 | &nbsp;&nbsp; $— |
| **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** | **Fixed income funds 9.97%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds Insurance Series – <br>The Bond Fund of America, Class 1 <br>| 11472 | &nbsp;&nbsp; 5074 | &nbsp;&nbsp; 5453 | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 593 | &nbsp;&nbsp; 11707 | &nbsp;&nbsp; 62 | &nbsp;&nbsp; — |
| **Total 94.89%** |  |  |  | &nbsp;&nbsp; $4192 | &nbsp;&nbsp; $15597 | &nbsp;&nbsp; $111391 | &nbsp;&nbsp; $163 | &nbsp;&nbsp; $— |

---

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

<sup>(a)</sup> Rate represents the seven-day yield at 9/30/2025. <br> <sup>(b)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| USD = U.S. dollars |

---

American Funds Insurance Series — Page 297 of 319

------

**Managed Risk Washington Mutual Investors** **Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Growth-and-income funds 84.74% | Shares | Value<br> (000)<br>|
| American Funds Insurance Series – Washington Mutual Investors Fund, Class 1  | 15132942 | $272241 |
| **Total growth-and-income funds** (cost: $202,152,000) |  | 272241 |
| Fixed income funds 9.96% |  |  |
| American Funds Insurance Series – U.S. Government Securities Fund, Class 1  | 3150816 | 31981 |
| **Total fixed income funds** (cost: $31,059,000) |  | 31981 |
| Short-term securities 4.73% |  |  |
| State Street Institutional U.S. Government Money Market Fund - Premier Class 4.09% <sup>(a)</sup>  | 15199771 | 15200 |
| **Total short-term securities** (cost: $15,200,000) |  | 15200 |
| Options purchased (equity style) 0.36% |  |  |
| Options purchased (equity style)\* |  | 1175 |
| **Total options purchased** (cost: $2,405,000) |  | 1175 |
| **Total investment securities 99.79%** (cost: $250,816,000) |  | 320597 |
| **Other assets less liabilities 0.21%** |  | 669 |
| **Net assets 100.00%** |  | $321266 |

---

\*Options purchased (equity style)

------

**Equity index options** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD16,721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,225.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $11 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4325.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4350.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4375.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4175.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4275.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4375.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4500.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4625.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 647 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4650.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 |

---

American Funds Insurance Series — Page 298 of 319

------

**unaudited**

\*Options purchased (equity style) (continued)

------

**Equity index options (continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise<br> price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at<br> 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD10,033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,850.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $44 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4900.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1175 |

---

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| S&P 500 E-mini Index Futures | Long | 36 | 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD12,130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $167 |

---

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

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth-and-income funds 84.74%** | **Growth-and-income funds 84.74%** | **Growth-and-income funds 84.74%** | **Growth-and-income funds 84.74%** | **Growth-and-income funds 84.74%** | **Growth-and-income funds 84.74%** | **Growth-and-income funds 84.74%** | **Growth-and-income funds 84.74%** | **Growth-and-income funds 84.74%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds Insurance Series – <br>Washington Mutual Investors Fund, Class 1 <br>| $273106 | &nbsp;&nbsp; $43656 | &nbsp;&nbsp; $63162 | &nbsp;&nbsp; $13564 | &nbsp;&nbsp; $5077 | &nbsp;&nbsp; $272241 | &nbsp;&nbsp; $933 | &nbsp;&nbsp; $17905 |
| **Fixed income funds 9.96%** | **Fixed income funds 9.96%** | **Fixed income funds 9.96%** | **Fixed income funds 9.96%** | **Fixed income funds 9.96%** | **Fixed income funds 9.96%** | **Fixed income funds 9.96%** | **Fixed income funds 9.96%** | **Fixed income funds 9.96%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds Insurance Series – <br>U.S. Government Securities Fund, Class 1 <br>| 32524 | &nbsp;&nbsp; 12460 | &nbsp;&nbsp; 14865 | &nbsp;&nbsp; (319)<br>| &nbsp;&nbsp; 2181 | &nbsp;&nbsp; 31981 | &nbsp;&nbsp; 257 | &nbsp;&nbsp; — |
| **Total 94.70%** |  |  |  | &nbsp;&nbsp; $13245 | &nbsp;&nbsp; $7258 | &nbsp;&nbsp; $304222 | &nbsp;&nbsp; $1190 | &nbsp;&nbsp; $17905 |

---

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

<sup>(a)</sup> Rate represents the seven-day yield at 9/30/2025. <br> <sup>(b)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| USD = U.S. dollars |

---

American Funds Insurance Series — Page 299 of 319

------

**Managed Risk Growth-Income Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Growth-and-income funds 79.51% | Shares | Value<br> (000)<br>|
| American Funds Insurance Series – Growth-Income Fund, Class 1  | 25583784 | $1707462 |
| **Total growth-and-income funds** (cost: $1,388,244,000) |  | 1707462 |
| Fixed income funds 14.88% |  |  |
| American Funds Insurance Series – The Bond Fund of America, Class 1  | 32730859 | 319453 |
| **Total fixed income funds** (cost: $310,576,000) |  | 319453 |
| Short-term securities 4.67% |  |  |
| State Street Institutional U.S. Government Money Market Fund - Premier Class 4.09% <sup>(a)</sup>  | 100392264 | 100392 |
| **Total short-term securities** (cost: $100,392,000) |  | 100392 |
| Options purchased (equity style) 0.60% |  |  |
| Options purchased (equity style)\* |  | 12848 |
| **Total options purchased** (cost: $27,189,000) |  | 12848 |
| **Total investment securities 99.66%** (cost: $1,826,401,000) |  | 2140155 |
| **Other assets less liabilities 0.34%** |  | 7319 |
| **Net assets 100.00%** |  | $2147474 |

---

\*Options purchased (equity style)

------

**Equity index options** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD80,262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,125.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $49 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4225.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 859467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 604 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4325.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4375.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4175.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1223988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4275.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3257 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4375.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 397 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4425.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4500.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4525.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1658738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4625.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5940 |

---

American Funds Insurance Series — Page 300 of 319

------

**unaudited**

\*Options purchased (equity style) (continued)

------

**Equity index options (continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise<br> price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at<br> 9/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD110,360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,650.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $403 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4825.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4850.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4900.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4625.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 373 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $12848 |

---

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| S&P 500 E-mini Index Futures | Long | 401 | 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD135,112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1738 |

---

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

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth-and-income funds 79.51%** | **Growth-and-income funds 79.51%** | **Growth-and-income funds 79.51%** | **Growth-and-income funds 79.51%** | **Growth-and-income funds 79.51%** | **Growth-and-income funds 79.51%** | **Growth-and-income funds 79.51%** | **Growth-and-income funds 79.51%** | **Growth-and-income funds 79.51%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds Insurance Series – <br>Growth-Income Fund, Class 1 <br>| $1736906 | &nbsp;&nbsp; $414482 | &nbsp;&nbsp; $407802 | &nbsp;&nbsp; $75675 | &nbsp;&nbsp; $(111799)<br>| &nbsp;&nbsp; $1707462 | &nbsp;&nbsp; $4029 | &nbsp;&nbsp; $278792 |
| **Fixed income funds 14.88%** | **Fixed income funds 14.88%** | **Fixed income funds 14.88%** | **Fixed income funds 14.88%** | **Fixed income funds 14.88%** | **Fixed income funds 14.88%** | **Fixed income funds 14.88%** | **Fixed income funds 14.88%** | **Fixed income funds 14.88%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds Insurance Series – <br>The Bond Fund of America, Class 1 <br>| 325683 | &nbsp;&nbsp; 109052 | &nbsp;&nbsp; 132478 | &nbsp;&nbsp; (535)<br>| &nbsp;&nbsp; 17731 | &nbsp;&nbsp; 319453 | &nbsp;&nbsp; 2800 | &nbsp;&nbsp; — |
| **Total 94.39%** |  |  |  | &nbsp;&nbsp; $75140 | &nbsp;&nbsp; $(94068)<br>| &nbsp;&nbsp; $2026915 | &nbsp;&nbsp; $6829 | &nbsp;&nbsp; $278792 |

---

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

<sup>(a)</sup> Rate represents the seven-day yield at 9/30/2025. <br> <sup>(b)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| USD = U.S. dollars |

---

American Funds Insurance Series — Page 301 of 319

------

**Managed Risk Asset Allocation Fund**

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Asset allocation funds 95.19% | Shares | Value<br> (000)<br>|
| American Funds Insurance Series – Asset Allocation Fund, Class 1  | 68030862 | $1857243 |
| **Total asset allocation funds** (cost: $1,594,088,000) |  | 1857243 |
| Short-term securities 4.79% |  |  |
| State Street Institutional U.S. Government Money Market Fund - Premier Class 4.09% <sup>(a)</sup>  | 93365232 | 93365 |
| **Total short-term securities** (cost: $93,365,000) |  | 93365 |
| Options purchased (equity style) 0.06% |  |  |
| Options purchased (equity style)\* |  | 1153 |
| **Total options purchased** (cost: $3,765,000) |  | 1153 |
| **Total investment securities 100.04%** (cost: $1,691,218,000) |  | 1951761 |
| **Other assets less liabilities (0.04)%** |  | (709)<br>|
| **Net assets 100.00%** |  | $1951052 |

---

\*Options purchased (equity style)

------

**Equity index options** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Put** |  |  |  |  |  |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD20,065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD4,125.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $12 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4225.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4250.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 190 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4300.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4350.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4275.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 685 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4375.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4850.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 |
| S&P 500 Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4900.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1153 |

---

American Funds Insurance Series — Page 302 of 319

------

**unaudited**

Futures contracts

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 9/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| S&P 500 E-mini Index Futures | Long | 40 | 12/19/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD13,478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $186 |

---

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

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Asset allocation funds 95.19%** | **Asset allocation funds 95.19%** | **Asset allocation funds 95.19%** | **Asset allocation funds 95.19%** | **Asset allocation funds 95.19%** | **Asset allocation funds 95.19%** | **Asset allocation funds 95.19%** | **Asset allocation funds 95.19%** | **Asset allocation funds 95.19%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Funds Insurance Series – <br>Asset Allocation Fund, Class 1 <br>| $1923478 | &nbsp;&nbsp; $243682 | &nbsp;&nbsp; $403349 | &nbsp;&nbsp; $(6490)<br>| &nbsp;&nbsp; $99922 | &nbsp;&nbsp; $1857243 | &nbsp;&nbsp; $8184 | &nbsp;&nbsp; $127660 |

---

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

<sup>(a)</sup> Rate represents the seven-day yield at 9/30/2025. <br> <sup>(b)</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| USD = U.S. dollars |

---

American Funds Insurance Series — Page 303 of 319

------

**unaudited**

Valuation disclosures

------

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

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

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. The value of an underlying fund is based on its reported net asset value.

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 funds are authorized to invest. However, these classifications are not exclusive and any of the inputs may be used to value any other class of fixed-income security.

---

| | |
|:---|:---|
| **Fixed-income class** | **Examples of standard inputs** |
| &nbsp;&nbsp;&nbsp;&nbsp; All | &nbsp;&nbsp;&nbsp; Benchmark yields, transactions, bids, offers, quotations from dealers and <br> trading systems, new issues, spreads and other relationships observed in <br> the markets among comparable securities; and proprietary pricing <br> models such as yield measures calculated using factors such as cash flows, <br> financial or collateral performance and other reference data (collectively <br> referred to as "standard inputs")<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Corporate bonds, notes & loans; convertible securities | Standard inputs and underlying equity of the issuer |
| &nbsp;&nbsp;&nbsp;&nbsp; Bonds & notes of governments & government agencies | Standard inputs and interest rate volatilities |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortgage-backed; asset-backed obligations | &nbsp;&nbsp;&nbsp; Standard inputs and cash flows, prepayment information, default rates, <br> delinquency and loss assumptions, collateral characteristics, credit <br> enhancements and specific deal information<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Municipal securities | &nbsp;&nbsp;&nbsp; Standard inputs and, for certain distressed securities, cash flows or <br> liquidation values using a net present value calculation based on inputs <br> that 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 series' investment adviser. The Capital Group Central Corporate Bond Fund ("CCBF"), a fund within the Capital Group Central Fund Series II, and Capital Group Central Cash Fund ("CCF"), a fund within the Capital Group Central Fund Series (collectively the "Central Funds"), are each valued based upon a floating net asset value, which fluctuates with changes in the value of each fund's portfolio securities. The underlying securities are valued based on the policies and procedures in the Central Funds' statements of additional information. The State Street Institutional U.S. Government Money Market Fund held by the managed risk funds is managed to maintain a $1.00 net asset value per share. The net asset values of each share class of each managed risk fund are calculated based on the reported net asset values of the underlying funds in which each fund invests.

Exchange-traded options and futures are generally valued at the official closing price for options and the official settlement price for futures of 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 and over-the-counter (OTC) options 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, exchange rates, implied option volatilities, and terms of the contract.

American Funds Insurance Series — Page 304 of 319

------

**unaudited**

The following table presents the average month-end notional amounts of options contracts, futures contracts, forward currency contracts, interest rate swaps and credit default swaps for each fund while held (dollars in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; Options <br>on <br>futures<br>| &nbsp;&nbsp; Options <br>on <br>foreign currencies<br>| &nbsp;&nbsp; Futures <br>contracts<br>| &nbsp;&nbsp; Forward <br>currency <br>contracts<br>| &nbsp;&nbsp; Interest <br>rate <br>swaps<br>| &nbsp;&nbsp; Credit <br>default <br>swaps<br>|
| New World Fund | Not applicable | Not applicable | &nbsp;&nbsp; $9643 | &nbsp;&nbsp; $20281 | &nbsp;&nbsp; $1,160\* | Not applicable |
| International Growth and Income Fund | Not applicable | Not applicable | Not applicable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 645\*  | Not applicable | Not applicable |
| Capital Income Builder | Not applicable | Not applicable | &nbsp;&nbsp;&nbsp;&nbsp; 163733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7628 | &nbsp;&nbsp; $5067 |
| Asset Allocation Fund | Not applicable | Not applicable | &nbsp;&nbsp; 2577804 | Not applicable | &nbsp;&nbsp; 373690 | &nbsp;&nbsp;&nbsp;&nbsp; 61302 |
| Global Balanced Fund | &nbsp;&nbsp; $13,706\* | Not applicable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55222 | &nbsp;&nbsp;&nbsp;&nbsp; 80094 | &nbsp;&nbsp;&nbsp;&nbsp; 18021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6402 |
| The Bond Fund of America | Not applicable | Not applicable | &nbsp;&nbsp; 5920144 | &nbsp;&nbsp; 257710 | &nbsp;&nbsp; 690863 | &nbsp;&nbsp; 163905 |
| Capital World Bond Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41,783\* | &nbsp;&nbsp; $17601 | &nbsp;&nbsp;&nbsp;&nbsp; 722606 | &nbsp;&nbsp; 511823 | &nbsp;&nbsp; 279007 | &nbsp;&nbsp;&nbsp;&nbsp; 83772 |
| American High-Income Trust | Not applicable | Not applicable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35887 | Not applicable | Not applicable | &nbsp;&nbsp;&nbsp;&nbsp; 15789 |
| American Funds Mortgage Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27504 | Not applicable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96037 | Not applicable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1845 | Not applicable |
| U.S. Government Securities Fund | &nbsp;&nbsp;&nbsp;&nbsp; 985596 | Not applicable | &nbsp;&nbsp; 1991196 | Not applicable | &nbsp;&nbsp; 965804 | Not applicable |
| Managed Risk Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp; 531050 | Not applicable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1308 | Not applicable | Not applicable | Not applicable |
| Managed Risk International Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89208 | Not applicable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323 | Not applicable | Not applicable | Not applicable |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Managed Risk Washington Mutual <br> Investors Fund<br>| &nbsp;&nbsp;&nbsp;&nbsp; 327086 | Not applicable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3229 | Not applicable | Not applicable | Not applicable |
| Managed Risk Growth-Income Fund | &nbsp;&nbsp; 3440562 | Not applicable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58193 | Not applicable | Not applicable | Not applicable |
| Managed Risk Asset Allocation | &nbsp;&nbsp;&nbsp;&nbsp; 450510 | Not applicable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26174 | Not applicable | Not applicable | Not applicable |

---

\*

No contracts were held at the end of the reporting period; amount represents the average month-end notional amount of contracts while they were held.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the series' investment adviser are fair valued as determined in good faith under fair value guidelines adopted by the series' investment adviser and approved by the board of trustees as further described below. 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 and futures that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of each fund is determined. Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.

**Processes and structure** — The series' board of trustees has designated the series' 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 series' board and audit committee also regularly review reports that describe fair value determinations and methods.

American Funds Insurance Series — Page 305 of 319

------

**unaudited**

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

Global Growth Fund

------

As of September 30, 2025, all of the fund's investment securities were classified as Level 1.

Global Small Capitalization Fund

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | $615234 | $— | $— | $615234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 474208 | 14550 |  | 488758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information technology | 421043 |  | 333 | 421376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 346663 |  |  | 346663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health care | 346450 |  |  | 346450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 219666 |  |  | 219666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication services | 105576 |  |  | 105576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 98986 |  |  | 98986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 90668 |  |  | 90668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | 70457 |  |  | 70457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 61129 |  |  | 61129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred securities  | 10029 |  | 14827 | 24856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible stocks  | 15395 |  |  | 15395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible bonds & notes  |  | 698 | 1847 | 2545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments  |  | 1038 |  | 1038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities | 90825 |  |  | 90825 |
| Total | $2966329 | $16286 | $17007 | $2999622 |

---

American Funds Insurance Series — Page 306 of 319

------

**unaudited**

Growth Fund

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information technology | $15991096 | $— | $5985 | $15997081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication services | 9908353 |  |  | 9908353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 8648212 |  |  | 8648212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 5541787 |  | 8739 | 5550526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health care | 5434389 |  | 9825 | 5444214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 4289556 |  |  | 4289556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 943442 |  |  | 943442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 935786 |  | 3095 | 938881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 876491 |  |  | 876491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 390561 |  |  | 390561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | 232461 |  |  | 232461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred securities  |  |  | 234594 | 234594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rights & warrants  |  |  | 34351 | 34351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible stocks  | 4875 |  | 686 | 5561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities | 895688 |  |  | 895688 |
| Total | $54092697 | $— | $297275 | $54389972 |

---

International Fund

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | $1291901 | $— | $— | $1291901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 1259776 |  |  | 1259776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information technology | 1038004 |  | 6168 | 1044172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication services | 849052 |  |  | 849052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 794348 |  |  | 794348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 737794 |  |  | 737794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health care | 468965 |  |  | 468965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 394541 |  |  | 394541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 365886 |  |  | 365886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 124111 |  |  | 124111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred securities  | 33162 |  | 565 | 33727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rights & warrants  |  |  | —<br> \*<br>| —<br> \*<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities | 160980 |  |  | 160980 |
| Total | $7518520 | $— | $6733 | $7525253 |

---

\*

Amount less than one thousand.

American Funds Insurance Series — Page 307 of 319

------

**unaudited**

New World Fund

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information technology | $762462 | $5077 | $493 | $768032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 655199 | 564 | —<br> \*<br>| 655763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 517858 |  |  | 517858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 496085 |  |  | 496085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication services | 383460 |  |  | 383460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 221533 |  | —<br> \*<br>| 221533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health care | 201338 |  |  | 201338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 188288 |  |  | 188288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 81317 |  | —<br> \*<br>| 81317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | 57720 |  |  | 57720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 49062 |  |  | 49062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred securities  | 20879 | 103 | 8496 | 29478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments  |  | 126824 |  | 126824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities | 158927 | 246 |  | 159173 |
| Total | $3794128 | $132814 | $8989 | $3935931 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Other investments<sup>†</sup>  | Other investments<sup>†</sup>  | Other investments<sup>†</sup>  | Other investments<sup>†</sup>  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on futures contracts | $28 | $— | $— | $28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on open forward currency contracts |  | 102 |  | 102 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on futures contracts | (17)<br>|  |  | (17)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on open forward currency contracts |  | (124)<br>|  | (124)<br>|
| Total  | $11 | $(22)<br>| $— | $(11)<br>|

---

\*

Amount less than one thousand.

<sup>†</sup>

Futures contracts and forward currency contracts are not included in the fund's investment portfolio.

American Funds Insurance Series — Page 308 of 319

------

**unaudited**

Washington Mutual Investors Fund

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information technology | $2922788 | $— | $— | $2922788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 2173362 | 298 |  | 2173660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 1412496 |  |  | 1412496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health care | 1286203 |  |  | 1286203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 936104 |  |  | 936104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 835050 |  |  | 835050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication services | 647486 |  |  | 647486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 496208 |  |  | 496208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 395733 |  |  | 395733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 323046 |  |  | 323046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | 309472 |  |  | 309472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible stocks  | 58356 |  |  | 58356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities  | 306342 |  |  | 306342 |
| Total | $12102646 | $298 | $— | $12102944 |

---

U.S. Small and Mid Cap Equity Fund

------

As of September 30, 2025, all of the fund's investment securities were classified as Level 1.

Capital World Growth and Income Fund

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information technology | $483112 | $— | $— | $483112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 335640 |  |  | 335640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 312973 |  | —<br> \*<br>| 312973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication services | 193015 |  |  | 193015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 182936 |  |  | 182936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health care | 144688 |  |  | 144688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 110689 | 1930 |  | 112619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 103311 |  |  | 103311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 78814 |  |  | 78814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 32326 | 891 |  | 33217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | 14829 |  |  | 14829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred securities  | 6213 |  |  | 6213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments  |  | 1544 |  | 1544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities | 63656 |  |  | 63656 |
| Total | $2062202 | $4365 | $—<br> \*<br>| $2066567 |

---

\*

Amount less than one thousand.

American Funds Insurance Series — Page 309 of 319

------

**unaudited**

Growth-Income Fund

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information technology | $13444109 | $— | $— | $13444109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 6639840 |  |  | 6639840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 5286037 |  |  | 5286037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 4734064 |  |  | 4734064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health care | 3860764 |  |  | 3860764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication services | 3523659 |  |  | 3523659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 1422987 |  |  | 1422987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 1328769 |  |  | 1328769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 1082707 |  |  | 1082707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 912294 |  |  | 912294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | 751709 |  |  | 751709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments  |  | 828 |  | 828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities | 1042231 |  |  | 1042231 |
| Total | $44029170 | $828 | $— | $44029998 |

---

International Growth and Income Fund

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | $99906 | $— | $—<br> \*<br>| $99906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 66825 |  |  | 66825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information technology | 48929 | 415 |  | 49344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 38280 |  |  | 38280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 34717 |  |  | 34717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 29033 |  | —<br> \*<br>| 29033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication services | 28299 |  |  | 28299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health care | 25294 |  |  | 25294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 18892 |  | —<br> \*<br>| 18892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 8548 |  |  | 8548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | 4923 |  |  | 4923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred securities  | 184 |  |  | 184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities | 9163 |  |  | 9163 |
| Total | $412993 | $415 | $—<br> \*<br>| $413408 |

---

\*

Amount less than one thousand.

American Funds Insurance Series — Page 310 of 319

------

**unaudited**

Capital Income Builder

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | $251374 | $— | $—<br> \*<br>| $251374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information technology | 176916 |  |  | 176916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 141845 |  |  | 141845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health care | 135319 |  |  | 135319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 135273 |  |  | 135273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 85588 | 791 |  | 86379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 82476 |  |  | 82476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 74354 |  |  | 74354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication services | 58058 |  |  | 58058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 57715 |  |  | 57715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | 48495 |  |  | 48495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible stocks  | 5520 |  |  | 5520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury bonds & notes |  | 88788 |  | 88788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-backed obligations |  | 87015 | 100 | 87115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate bonds, notes & loans |  | 42510 | 231 | 42741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-backed obligations |  | 13359 |  | 13359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds & notes of governments & government agencies <br> outside the U.S.<br>|  | 832 |  | 832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipals |  | 340 |  | 340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment funds  | 33011 |  |  | 33011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities  | 127544 |  |  | 127544 |
| Total | $1413488 | $233635 | $331 | $1647454 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Other investments<sup>†</sup>  | Other investments<sup>†</sup>  | Other investments<sup>†</sup>  | Other investments<sup>†</sup>  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on futures contracts | $353 | $— | $— | $353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on open forward currency contracts |  | 9 |  | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on centrally cleared interest rate swaps |  | 218 |  | 218 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on futures contracts | (69)<br>|  |  | (69)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on centrally cleared interest rate swaps |  | (8)<br>|  | (8)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on centrally cleared credit default swaps |  | (1)<br>|  | (1)<br>|
| Total  | $284 | $218 | $— | $502 |

---

\*

Amount less than one thousand.

<sup>†</sup>

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

American Funds Insurance Series — Page 311 of 319

------

**unaudited**

Asset Allocation Fund

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information technology | $4951538 | $— | $— | $4951538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 3178158 |  | —<br> \*<br>| 3178158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 2510222 |  |  | 2510222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 1787741 |  | 830 | 1788571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health care | 1592798 | 3770 | 13339 | 1609907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 1466671 |  | —<br> \*<br>| 1466671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication services | 1121774 |  |  | 1121774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 944727 |  |  | 944727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 255081 |  | 644 | 255725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 236665 |  |  | 236665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | 62367 |  |  | 62367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred securities  |  |  | 736 | 736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rights & warrants  | 51 |  | —<br> \*<br>| 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible stocks  | 35616 |  |  | 35616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible bonds & notes  |  | 18291 |  | 18291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-backed obligations |  | 3078925 |  | 3078925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury bonds & notes |  | 2297734 |  | 2297734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate bonds, notes & loans |  | 2021393 | 10268 | 2031661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-backed obligations |  | 552446 |  | 552446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds & notes of governments & government agencies <br> outside the U.S.<br>|  | 58630 |  | 58630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipals |  | 22753 |  | 22753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment funds  | 840931 |  |  | 840931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities  | 1620846 |  |  | 1620846 |
| Total | $20605186 | $8053942 | $25817 | $28684945 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Other investments<sup>†</sup>  | Other investments<sup>†</sup>  | Other investments<sup>†</sup>  | Other investments<sup>†</sup>  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on futures contracts | $4818 | $— | $— | $4818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on centrally cleared interest rate swaps |  | 188 |  | 188 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on futures contracts | (1786)<br>|  |  | (1786)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on centrally cleared credit default swaps |  | (674)<br>|  | (674)<br>|
| Total  | $3032 | $(486)<br>| $— | $2546 |

---

\*

Amount less than one thousand.

<sup>†</sup>

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

American Funds Insurance Series — Page 312 of 319

------

**unaudited**

American Funds Global Balanced Fund

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information technology | $51795 | $— | $— | $51795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 42918 |  |  | 42918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 42352 |  |  | 42352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health care | 31157 |  |  | 31157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 23129 |  |  | 23129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 20333 | 374 |  | 20707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication services | 20024 |  |  | 20024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 15362 |  |  | 15362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 14907 |  |  | 14907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 10010 |  |  | 10010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | 2213 |  |  | 2213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible stocks  | 2589 |  |  | 2589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds & notes of governments & government agencies <br> outside the U.S.<br>|  | 54408 |  | 54408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate bonds, notes & loans |  | 26934 |  | 26934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury bonds & notes |  | 24649 |  | 24649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-backed obligations |  | 22223 |  | 22223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-backed obligations |  | 2407 |  | 2407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipals |  | 131 |  | 131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal agency bonds & notes |  | 111 |  | 111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment funds  | 4221 |  |  | 4221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities  | 34014 |  |  | 34014 |
| Total | $315024 | $131237 | $— | $446261 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Other investments\* | Other investments\* | Other investments\* | Other investments\* |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on futures contracts | $258 | $— | $— | $258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on open forward currency contracts |  | 364 |  | 364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on centrally cleared interest rate swaps |  | 49 |  | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on bilateral interest rate swaps |  | 44 |  | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on centrally cleared credit default swaps |  | — <br><sup>†</sup><br>|  | — <br><sup>†</sup><br>|
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on futures contracts | (80)<br>|  |  | (80)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on open forward currency contracts |  | (197)<br>|  | (197)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on centrally cleared interest rate swaps |  | (19)<br>|  | (19)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on bilateral interest rate swaps |  | (329)<br>|  | (329)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on centrally cleared credit default swaps |  | — <br><sup>†</sup><br>|  | — <br><sup>†</sup><br>|
| Total  | $178 | $(88)<br>| $— | $90 |

---

\*

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

<sup>†</sup>

Amount less than one thousand.

American Funds Insurance Series — Page 313 of 319

------

**unaudited**

The Bond Fund of America

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-backed obligations | $— | $3900503 | $1368 | $3901871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate bonds, notes & loans |  | 3632039 | 6704 | 3638743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury bonds & notes |  | 2421166 |  | 2421166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-backed obligations |  | 543308 |  | 543308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds & notes of governments & government agencies <br> outside the U.S.<br>|  | 205778 |  | 205778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipals |  | 162876 |  | 162876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal agency bonds & notes |  | 11797 |  | 11797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks  |  | 14 |  | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities  | 868446 |  |  | 868446 |
| Total | $868446 | $10877481 | $8072 | $11753999 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Other investments\* | Other investments\* | Other investments\* | Other investments\* |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on futures contracts | $8929 | $— | $— | $8929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on open forward currency contracts |  | 580 |  | 580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on centrally cleared interest rate swaps |  | 2009 |  | 2009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on bilateral interest rate swaps |  | 2191 |  | 2191 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on futures contracts | (4803)<br>|  |  | (4803)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on open forward currency contracts |  | (384)<br>|  | (384)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on centrally cleared interest rate swaps |  | (2647)<br>|  | (2647)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on bilateral interest rate swaps |  | (3301)<br>|  | (3301)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on centrally cleared credit default swaps |  | (3329)<br>|  | (3329)<br>|
| Total  | $4126 | $(4881)<br>| $— | $(755)<br>|

---

\*

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

American Funds Insurance Series — Page 314 of 319

------

**unaudited**

Capital World Bond Fund

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Euros | $— | $297913 | $— | $297913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japanese yen |  | 126607 |  | 126607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; British pounds |  | 63897 |  | 63897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazilian reais |  | 34246 |  | 34246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Korean won |  | 24043 |  | 24043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Australian dollars |  | 23890 |  | 23890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indian rupees |  | 20578 |  | 20578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chinese yuan renminbi |  | 20205 |  | 20205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canadian dollars |  | 18566 |  | 18566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Malaysian ringgits |  | 17506 |  | 17506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indonesian rupiah |  | 7708 |  | 7708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexican pesos |  | 6829 |  | 6829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Danish kroner |  | 6474 |  | 6474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colombian pesos |  | 4589 |  | 4589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Polish zloty |  | 3934 |  | 3934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South African rand |  | 3912 |  | 3912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chilean pesos |  | 2661 |  | 2661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turkish lira |  | 1970 |  | 1970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Zealand dollars |  | 1022 |  | 1022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Czech korunas |  | 856 |  | 856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philippine pesos |  | 484 |  | 484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. dollars |  | 624801 | 592 | 625393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred securities  |  |  | 78 | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks  |  | 5 | 57 | 62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment funds  | 22577 |  |  | 22577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities | 156910 |  |  | 156910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options purchased on foreign currencies (equity style) |  | 2 |  | 2 |
| Total | $179487 | $1312698 | $727 | $1492912 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Other investments\* | Other investments\* | Other investments\* | Other investments\* |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on futures contracts | $3276 | $— | $— | $3276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on open forward currency contracts |  | 1880 |  | 1880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on centrally cleared interest rate swaps |  | 584 |  | 584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on bilateral interest rate swaps |  | 388 |  | 388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on centrally cleared credit default swaps |  | 5 |  | 5 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value of options written (equity style) |  | — <br><sup>†</sup><br>|  | — <br><sup>†</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on futures contracts | (1329)<br>|  |  | (1329)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on open forward currency contracts |  | (1437)<br>|  | (1437)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on centrally cleared interest rate swaps |  | (802)<br>|  | (802)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on bilateral interest rate swaps |  | (4194)<br>|  | (4194)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on centrally cleared credit default swaps |  | (177)<br>|  | (177)<br>|
| Total  | $1947 | $(3753)<br>| $— | $(1806)<br>|

---

\*

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

<sup>†</sup>

Amount less than one thousand.

American Funds Insurance Series — Page 315 of 319

------

**unaudited**

American High-Income Trust

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate bonds, notes & loans | $— | $896266 | $3686 | $899952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-backed obligations |  |  | 580 | 580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipals |  | 461 |  | 461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible bonds & notes  |  | 932 |  | 932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks  | 40985 | 3174 | 21662 | 65821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred securities  |  |  | 1672 | 1672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rights & warrants  | 45 | 113 |  | 158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities  | 47457 |  |  | 47457 |
| Total | $88487 | $900946 | $27600 | $1017033 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Other investments\* | Other investments\* | Other investments\* | Other investments\* |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on futures contracts | $25 | $— | $— | $25 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on futures contracts | (16)<br>|  |  | (16)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on centrally cleared credit default swaps |  | (190)<br>|  | (190)<br>|
| Total  | $9 | $(190)<br>| $— | $(181)<br>|

---

\*

Futures contracts and credit default swaps are not included in the fund's investment portfolio.

The following table reconciles the valuation of the fund's Level 3 investment securities and related transactions for the nine months ended September 30, 2025 (dollars in thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; Beginning <br>value at <br>1/1/2025<br>| &nbsp;&nbsp; Transfers <br>into <br>Level 3<sup>†</sup> <br>| Purchases | Sales | &nbsp;&nbsp; Net <br>realized <br>gain (loss)<br>| &nbsp;&nbsp; Unrealized <br>appreciation <br>(depreciation)<br>| &nbsp;&nbsp; Transfers <br>out of <br>Level 3<sup>†</sup> <br>| &nbsp;&nbsp; Ending <br>value at <br>9/30/2025<br>|
| Investment securities | &nbsp;&nbsp; $36440 | &nbsp;&nbsp; $1868 | &nbsp;&nbsp; $7372 | &nbsp;&nbsp; $(4535)<br>| &nbsp;&nbsp; $(3727)<br>| &nbsp;&nbsp; $(6067)<br>| &nbsp;&nbsp; $(3751)<br>| &nbsp;&nbsp; $27600 |
| Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at September 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at September 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at September 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at September 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at September 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at September 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at September 30, 2025 | Net unrealized appreciation (depreciation) during the period on Level 3 investment securities held at September 30, 2025 | &nbsp;&nbsp; $(7137)<br>|

---

<sup>†</sup>

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

American Funds Insurance Series — Page 316 of 319

------

**unaudited**

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>9/30/2025<br>| &nbsp;&nbsp;&nbsp; Valuation <br>techniques<br>| &nbsp;&nbsp;&nbsp; Unobservable <br>inputs<br>| Range <br>(if applicable)<br>| &nbsp;&nbsp;&nbsp; Weighted <br>average\*<br>| &nbsp;&nbsp;&nbsp; Impact to <br>valuation from <br>an increase in <br>input<sup>†</sup> <br>|
| Bonds, notes & other debt <br> instruments | $4266 | &nbsp;&nbsp; Estimated recovery <br> value | Expected proceeds | Not applicable | Not applicable | Not applicable |
| Bonds, notes & other debt <br> instruments | $4266 | &nbsp;&nbsp; Estimated recovery <br> value | Vendor price | Not applicable | Not applicable | Not applicable |
| Bonds, notes & other debt <br> instruments | $4266 | &nbsp;&nbsp; Estimated recovery <br> value | De minimis | Not applicable | Not applicable | Not applicable |
| Bonds, notes & other debt <br> instruments | $4266 | Transaction | Transaction price | Not applicable | Not applicable | Not applicable |
| Bonds, notes & other debt <br> instruments | $4266 | &nbsp;&nbsp; Indicative market <br> quotation<br>| Broker quote | Not applicable | Not applicable | Not applicable |
| Common stocks | $21662 | &nbsp;&nbsp; Estimated recovery <br> value | Expected proceeds | Not applicable | Not applicable | Not applicable |
| Common stocks | $21662 | &nbsp;&nbsp; Estimated recovery <br> value | Discount for uncertainty  | 15% - 20% | 17% | Decrease |
| Common stocks | $21662 | &nbsp;&nbsp; Estimated recovery <br> value | De minimis | Not applicable | Not applicable | Not applicable |
| Common stocks | $21662 | &nbsp;&nbsp; Market <br> comparables | EV/EBITDA multiple | 5.5x - 10.0x | 8.0x | Increase |
| Common stocks | $21662 | &nbsp;&nbsp; Market <br> comparables | EV/EBITDA-CAPEX multiple | 10.5x | 10.5x | Increase |
| Common stocks | $21662 | &nbsp;&nbsp; Market <br> comparables | DLOM | 7% | 7% | Decrease |
| Preferred securities | $1672 | &nbsp;&nbsp; Market <br> comparables | EV/EBITDA multiple | 4.7x | 4.7x | Increase |
| Preferred securities | $1672 | &nbsp;&nbsp; Market <br> comparables | DLOM | 15% | 15% | Decrease |
|  | $27600 |  |  |  |  |  |

---

\*

Weighted average is by relative fair value.

<sup>†</sup>

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

---

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

---

American Funds Mortgage Fund

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-backed obligations | $— | $103666 | $— | $103666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury bonds & notes |  | 5136 |  | 5136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-backed obligations |  | 1423 |  | 1423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities  |  | 28881 |  | 28881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options purchased on futures (equity style) | 1 |  |  | 1 |
| Total | $1 | $139106 | $— | $139107 |

---

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

American Funds Insurance Series — Page 317 of 319

------

**unaudited**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Other investments\* | Other investments\* | Other investments\* | Other investments\* |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on futures contracts | $126 | $— | $— | $126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on centrally cleared interest rate swaps |  | 100 |  | 100 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on futures contracts | (1)<br>|  |  | (1)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on centrally cleared interest rate swaps |  | (3)<br>|  | (3)<br>|
| Total  | $125 | $97 | $— | $222 |

---

\*

Futures contracts and interest rate swaps are not included in the fund's investment portfolio.

Ultra-Short Bond Fund

------

As of September 30, 2025, all of the fund's investment securities were classified as Level 2.

U.S. Government Securities Fund

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, notes & other debt instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-backed obligations | $— | $848761 | $— | $848761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury bonds & notes |  | 752779 |  | 752779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal agency bonds & notes |  | 48575 |  | 48575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities  |  | 356011 |  | 356011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options purchased on futures (equity style) | 36 |  |  | 36 |
| Total | $36 | $2006126 | $— | $2006162 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Other investments\* | Other investments\* | Other investments\* | Other investments\* |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on futures contracts | $1779 | $— | $— | $1779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on centrally cleared interest rate swaps |  | 13744 |  | 13744 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on futures contracts | (69)<br>|  |  | (69)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on centrally cleared interest rate swaps |  | (2548)<br>|  | (2548)<br>|
| Total  | $1710 | $11196 | $— | $12906 |

---

\*

Futures contracts and interest rate swaps are not included in the fund's investment portfolio.

Managed Risk Growth Fund

------

As of September 30, 2025, all of the fund's investments were classified as Level 1.

Managed Risk International Fund

------

As of September 30, 2025, all of the fund's investments were classified as Level 1.

American Funds Insurance Series — Page 318 of 319

------

**unaudited**

Managed Risk Washington Mutual Investors Fund

------

As of September 30, 2025, all of the fund's investments were classified as Level 1.

Managed Risk Growth-Income Fund

------

As of September 30, 2025, all of the fund's investments were classified as Level 1.

Managed Risk Asset Allocation Fund

------

As of September 30, 2025, all of the fund's investments were classified as Level 1.

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

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

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

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

INGEFP3-998-1125

American Funds Insurance Series — Page 319 of 319

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** AMERICAN FUNDS INSURANCE SERIES

- **b. Investment Company Act file number:** 811-03857

- **c. CIK number of Registrant:** 0000729528

- **d. LEI of Registrant:** 5493006ZFTN01BKM5294

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

  - **Street Address 1:** 333 South Hope Street

  - **City:** Los Angeles

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90071

  - **Telephone number:** 9499755000

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

- **a. Name of Series:** U.S. Government Securities Fund

- **b. EDGAR series identifier (if any):** S000008788

- **c. LEI of Series:** ZIZPYJJVT4JGEJFM4E41

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2151587725.37

**Total Liabilities:** $279204134.63

**Net Assets:** $1872383590.74

**Cash Not Reported:** $649347.59

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -24.141593000000 | **1-Year:** -2679.861857000000 | **5-Year:** -4042.684301000000 | **10-Year:** -3787.618034000000 | **30-Year:** -258.123945200000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -355.009218200000 | **1-Year:** -5281.305894000000 | **5-Year:** -5969.016229000000 | **10-Year:** -1466.727001000000 | **30-Year:** -72.199219400000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000023908 | -0.60%               | 1.61%                | 0.69%                |
| Class ID C000023909 | -0.61%               | 1.64%                | 0.70%                |
| Class ID C000023910 | -0.50%               | 1.61%                | 0.59%                |
| Class ID C000121504 | -0.61%               | 1.54%                | 0.71%                |
| Class ID C000176236 | -0.61%               | 1.62%                | 0.70%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $382887.64               | $-8887128.30                               |
| Month 2  | $575303.37               | $12084514.36                               |
| Month 3  | $650761.22               | $6174736.99                                |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Government/Mortgage-Backed Securities Index

- **Index Identifier:** I01262US

### Schedule of Portfolio Investments

| Name                                                      | Title                                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 0.125% 02-15-51 | CUSIP: 912810SV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    142817 | PA      | $79196.63     | 0.00%             | 2051-02-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 0.875% 06-30-26                        | CUSIP: 91282CCJ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2065000 | PA      | $2021360.77   | 0.11%             | 2026-06-30      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 0.125% 07-15-31 | CUSIP: 91282CCM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1084779 | PA      | $1013293.80   | 0.05%             | 2031-07-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 0.125% 10-15-26 | CUSIP: 91282CDC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9544809 | PA      | $9494106.04   | 0.51%             | 2026-10-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8453 08-01-54                                      | CUSIP: 3132DWMA8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    973177 | PA      | $982743.45    | 0.05%             | 2054-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD5949 07-01-54                                      | CUSIP: 3132DTTE0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   8049388 | PA      | $8247378.28   | 0.44%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RJ1986 07-01-54                                      | CUSIP: 3142GSF45<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   6653857 | PA      | $6894540.53   | 0.37%             | 2054-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 2.5 786706 12-20-51                                           | CUSIP: 3622ACKT6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   3434116 | PA      | $2928236.04   | 0.16%             | 2051-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 2.5 786701 03-20-52                                           | CUSIP: 3622ACKN9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    921061 | PA      | $793981.26    | 0.04%             | 2052-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 2.5 785575 08-20-51                                           | CUSIP: 3622ABCL4<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   4406001 | PA      | $3755538.33   | 0.20%             | 2051-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 2.5 785659 10-20-51                                           | CUSIP: 3622ABE81<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    606762 | PA      | $518494.42    | 0.03%             | 2051-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 3.5 MA8199 08-20-52                                           | CUSIP: 36179XDC7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    636198 | PA      | $582648.13    | 0.03%             | 2052-08-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 4.0 MA8567 01-20-53                                           | CUSIP: 36179XQU3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    408327 | PA      | $387976.32    | 0.02%             | 2053-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 5.0 MA8947 06-20-53                                           | CUSIP: 36179X5G7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     51453 | PA      | $51461.83     | 0.00%             | 2053-06-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 3.5 MA8266 09-20-52                                           | CUSIP: 36179XFF8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   3907555 | PA      | $3579351.48   | 0.19%             | 2052-09-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 4.5 MA9169 09-20-53                                           | CUSIP: 36179YFJ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1134475 | PA      | $1103602.77   | 0.06%             | 2053-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 4.5 MA9104 08-20-53                                           | CUSIP: 36179YDH4<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   2691026 | PA      | $2619043.95   | 0.14%             | 2053-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 4.5 MA9015 07-20-53                                           | CUSIP: 36179YAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   4192058 | PA      | $4085734.81   | 0.22%             | 2053-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 4.0 MA8723 03-20-53                                           | CUSIP: 36179XVQ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    203040 | PA      | $192670.76    | 0.01%             | 2053-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 4.0 MA9776 07-20-54                                           | CUSIP: 36179Y2H6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   4365453 | PA      | $4130102.32   | 0.22%             | 2054-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 4.5 MB0024 11-20-54                                           | CUSIP: 3618N5A25<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1377832 | PA      | $1337768.72   | 0.07%             | 2054-11-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 4.0 MB0202 02-20-55                                           | CUSIP: 3618N5GL7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   2805965 | PA      | $2640110.39   | 0.14%             | 2055-02-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 4.0 MB0144 01-20-55                                           | CUSIP: 3618N5ES4<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   7489995 | PA      | $7049598.08   | 0.38%             | 2055-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 5.5 MB0485 07-20-55                                           | CUSIP: 3618N5RF8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    345136 | PA      | $348180.75    | 0.02%             | 2055-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 5.5 MB0205 02-20-55                                           | CUSIP: 3618N5GP8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    556567 | PA      | $561225.79    | 0.03%             | 2055-02-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 5.5 MB0424 06-20-55                                           | CUSIP: 3618N5PJ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    997318 | PA      | $1005819.65   | 0.05%             | 2055-06-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 5.0 TBA 10-01-55                                              | CUSIP: 21H0506A5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      5000 | PA      | $4974.27      | 0.00%             | 2055-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 0.125% 01-15-32 | CUSIP: 91282CDX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3372755 | PA      | $3106095.72   | 0.17%             | 2032-01-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 0.125% 04-15-27 | CUSIP: 91282CEJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2936804 | PA      | $2896423.32   | 0.15%             | 2027-04-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 2.625% 05-31-27                        | CUSIP: 91282CET4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2290000 | PA      | $2252234.24   | 0.12%             | 2027-05-31      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 2.625% 07-31-29                        | CUSIP: 91282CFC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9309300 | PA      | $8961489.66   | 0.48%             | 2029-07-31      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 2.75% 08-15-32                         | CUSIP: 91282CFF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8095000 | PA      | $7526769.05   | 0.40%             | 2032-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.0% 08-15-52                          | CUSIP: 912810TJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    895000 | PA      | $654609.53    | 0.03%             | 2052-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.0% 11-15-52                          | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1849300 | PA      | $1635902.99   | 0.09%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 1.5% 02-15-53   | CUSIP: 912810TP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    807687 | PA      | $646686.56    | 0.03%             | 2053-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.0% 02-28-30                          | CUSIP: 91282CGQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11270000 | PA      | $11401462.30  | 0.61%             | 2030-02-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.875% 05-15-43                        | CUSIP: 912810TS7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    820000 | PA      | $742893.35    | 0.04%             | 2043-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 2.625% 02-15-29                        | CUSIP: 9128286B1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3270000 | PA      | $3165086.30   | 0.17%             | 2029-02-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 1.0% 02-15-49   | CUSIP: 912810SG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    320948 | PA      | $236950.25    | 0.01%             | 2049-02-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY STRIP COUPON 0.0% 11-15-40                  | CUSIP: 912834JH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1110000 | PA      | $543655.91    | 0.03%             | 2040-11-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 2.375% 11-15-49                        | CUSIP: 912810SK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1435000 | PA      | $938777.57    | 0.05%             | 2049-11-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 0.25% 02-15-50  | CUSIP: 912810SM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    365148 | PA      | $215950.67    | 0.01%             | 2050-02-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 0.5% 04-30-27                          | CUSIP: 912828ZN3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1250000 | PA      | $1190220.88   | 0.06%             | 2027-04-30      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 1.25% 05-15-50                         | CUSIP: 912810SN9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14825000 | PA      | $7273226.54   | 0.39%             | 2050-05-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 1.625% 11-15-50                        | CUSIP: 912810SS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  26165200 | PA      | $14038354.58  | 0.75%             | 2050-11-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 1.375% 11-15-40                        | CUSIP: 912810ST6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1945000 | PA      | $1269726.34   | 0.07%             | 2040-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 1.875% 02-15-51                        | CUSIP: 912810SU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5892200 | PA      | $3364451.50   | 0.18%             | 2051-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.25% 01-31-26                         | CUSIP: 91282CJV4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5535000 | PA      | $5539540.36   | 0.30%             | 2026-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.25% 02-15-54                         | CUSIP: 912810TX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11130000 | PA      | $10272762.95  | 0.55%             | 2054-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.5% 02-15-44                          | CUSIP: 912810TZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3780000 | PA      | $3697303.05   | 0.20%             | 2044-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.625% 02-28-26                        | CUSIP: 91282CKB6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9375000 | PA      | $9402283.13   | 0.50%             | 2026-02-28      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 2.125% 02-15-54 | CUSIP: 912810TY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2331509 | PA      | $2152911.34   | 0.11%             | 2054-02-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.5% 03-31-26                          | CUSIP: 91282CKH3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1435000 | PA      | $1439708.52   | 0.08%             | 2026-03-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.5% 04-15-27                          | CUSIP: 91282CKJ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  30000000 | PA      | $30373005.00  | 1.62%             | 2027-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.875% 04-30-26                        | CUSIP: 91282CKK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  35525000 | PA      | $35742174.98  | 1.91%             | 2026-04-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.375% 05-15-34                        | CUSIP: 91282CKQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1687100 | PA      | $1726245.95   | 0.09%             | 2034-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.625% 05-15-54                        | CUSIP: 912810UA4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5610000 | PA      | $5511326.83   | 0.29%             | 2054-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.5% 05-31-29                          | CUSIP: 91282CKT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    825000 | PA      | $848255.35    | 0.05%             | 2029-05-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.25% 06-30-31                         | CUSIP: 91282CKW0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9625000 | PA      | $9837483.43   | 0.53%             | 2031-06-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.0% 07-31-29                          | CUSIP: 91282CLC3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15070000 | PA      | $15237604.02  | 0.81%             | 2029-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.375% 07-31-26                        | CUSIP: 91282CLB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  25795000 | PA      | $25922463.41  | 1.38%             | 2026-07-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 1.875% 07-15-34 | CUSIP: 91282CLE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7319958 | PA      | $7427753.01   | 0.40%             | 2034-07-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.875% 08-15-34                        | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1970000 | PA      | $1940195.28   | 0.10%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.75% 08-15-27                         | CUSIP: 91282CLG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5043000 | PA      | $5053702.25   | 0.27%             | 2027-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.25% 08-15-54                         | CUSIP: 912810UC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     50100 | PA      | $46268.07     | 0.00%             | 2054-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.125% 08-15-44                        | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11760000 | PA      | $10919311.70  | 0.58%             | 2044-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.5% 09-30-26                          | CUSIP: 91282CLP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11100000 | PA      | $11078103.03  | 0.59%             | 2026-09-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 1.625% 10-15-29 | CUSIP: 91282CLV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  37031987 | PA      | $37772612.21  | 2.02%             | 2029-10-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.125% 10-31-29                        | CUSIP: 91282CLR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4800000 | PA      | $4877062.56   | 0.26%             | 2029-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.25% 11-15-34                         | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1790000 | PA      | $1810417.10   | 0.10%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNIONP 7.0 256828 07-01-37                                         | CUSIP: 31371NHD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      2423 | PA      | $2487.34      | 0.00%             | 2037-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNIONP 6.5 256860 08-01-37                                         | CUSIP: 31371NJD8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      8679 | PA      | $9074.32      | 0.00%             | 2037-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNIONP 7.0 888698 10-01-37                                         | CUSIP: 31410GKK8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     11368 | PA      | $11902.26     | 0.00%             | 2037-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNIONP 6.0 970343 02-01-38                                         | CUSIP: 31414MP42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     12071 | PA      | $12197.80     | 0.00%             | 2038-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FHARM FRN 1H1354 11-01-36                                          | CUSIP: 3128NGE35<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     29618 | PA      | $30510.77     | 0.00%             | 2036-11-01      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| SEASONED CREDIT RISK TRANSFER SCRT_18-3                   | SCRT 2018-3 MA 3.5% 08-25-57                                       | CUSIP: 35563PGG8<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |    335459 | PA      | $327010.89    | 0.02%             | 2057-08-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 4.0 G67711 03-01-48                                          | CUSIP: 3132XCR80<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    706615 | PA      | $681223.19    | 0.04%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.5 RA1580 10-01-49                                      | CUSIP: 3133KGXH6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    155433 | PA      | $145710.02    | 0.01%             | 2049-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.5 QA0284 06-01-49                                      | CUSIP: 31334WJ51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    124221 | PA      | $116183.71    | 0.01%             | 2049-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 932606 02-01-40                                          | CUSIP: 31412RDK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      6225 | PA      | $6379.43      | 0.00%             | 2040-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 BH3122 06-01-47                                      | CUSIP: 3140GRPG3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      4785 | PA      | $4607.23      | 0.00%             | 2047-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS AE1283 12-01-41                                          | CUSIP: 31419BM93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      5668 | PA      | $5814.09      | 0.00%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.5 BK9761 08-01-48                                      | CUSIP: 3140HPZ34<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     13052 | PA      | $13026.00     | 0.00%             | 2048-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q54701 03-01-48                                          | CUSIP: 3132XXGK9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     40392 | PA      | $37468.86     | 0.00%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q52069 11-01-47                                          | CUSIP: 3132XUJP1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     58686 | PA      | $54643.85     | 0.00%             | 2047-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 BJ8411 08-01-49                                      | CUSIP: 3140HAKZ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     84362 | PA      | $78904.02     | 0.00%             | 2049-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 AE1277 11-01-41                                      | CUSIP: 31419BM36<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     11730 | PA      | $12009.57     | 0.00%             | 2041-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 BJ5015 12-01-47                                      | CUSIP: 3140H6SD2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     81131 | PA      | $78120.20     | 0.00%             | 2047-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 BJ4901 03-01-48                                      | CUSIP: 3140H6NT2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     30806 | PA      | $28812.01     | 0.00%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 BK9743 08-01-48                                      | CUSIP: 3140HPZH3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     18729 | PA      | $18010.27     | 0.00%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 AE1290 02-01-42                                      | CUSIP: 31419BNG6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     16092 | PA      | $16400.03     | 0.00%             | 2042-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 BH2848 05-01-47                                      | CUSIP: 3140GREW0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      5600 | PA      | $5232.48      | 0.00%             | 2047-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 BE8742 05-01-47                                      | CUSIP: 3140FUWC8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     12303 | PA      | $11543.01     | 0.00%             | 2047-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q56590 06-01-48                                          | CUSIP: 3132Y0KC3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     22985 | PA      | $21509.28     | 0.00%             | 2048-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 AE1248 06-01-41                                      | CUSIP: 31419BL60<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     27672 | PA      | $28286.41     | 0.00%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q56589 06-01-48                                          | CUSIP: 3132Y0KB5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     12591 | PA      | $11790.41     | 0.00%             | 2048-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 CA4151 09-01-49                                      | CUSIP: 3140QBTH1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    435194 | PA      | $407969.48    | 0.02%             | 2049-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 4.0 Q15874 02-01-43                                          | CUSIP: 3132J66L3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      2154 | PA      | $2086.62      | 0.00%             | 2043-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 BE5017 02-01-45                                      | CUSIP: 3140FQSF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     51769 | PA      | $48698.06     | 0.00%             | 2045-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 4.5 Q58378 09-01-48                                          | CUSIP: 3132Y2JY3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     50186 | PA      | $49517.22     | 0.00%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 AY1829 12-01-44                                      | CUSIP: 3138YFA79<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      6712 | PA      | $6334.21      | 0.00%             | 2044-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q47615 04-01-47                                          | CUSIP: 3132WMN91<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     41273 | PA      | $38126.69     | 0.00%             | 2047-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 AT3954 04-01-43                                      | CUSIP: 3138WRMC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      5740 | PA      | $5438.85      | 0.00%             | 2043-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 4.0 Q56599 06-01-48                                          | CUSIP: 3132Y0KM1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     65633 | PA      | $63210.21     | 0.00%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 BE8740 05-01-47                                      | CUSIP: 3140FUWA2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     44274 | PA      | $41390.11     | 0.00%             | 2047-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 CB5919 03-01-53                                      | CUSIP: 3140QRSH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    764473 | PA      | $784283.97    | 0.04%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 FS4933 06-01-53                                      | CUSIP: 3140XLPT9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1826107 | PA      | $1874259.70   | 0.10%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD3175 06-01-53                                      | CUSIP: 3132DQQ41<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   3642737 | PA      | $3737695.96   | 0.20%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 BX6121 01-01-53                                      | CUSIP: 3140NAYT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1858328 | PA      | $1915063.16   | 0.10%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 QG3763 05-01-53                                      | CUSIP: 3133C4FC3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1613323 | PA      | $1657611.58   | 0.09%             | 2053-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 BY2249 04-01-53                                      | CUSIP: 3140NJQB3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    224080 | PA      | $211706.65    | 0.01%             | 2053-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.0 QI0100 02-01-54                                      | CUSIP: 3133W6DD6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    158038 | PA      | $149114.78    | 0.01%             | 2054-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 SD5404 05-01-54                                      | CUSIP: 3132DTAD2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   2323624 | PA      | $2414677.17   | 0.13%             | 2054-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RJ1726 06-01-54                                      | CUSIP: 3142GR4L1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1027101 | PA      | $1067374.10   | 0.06%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.625% 05-31-28                        | CUSIP: 91282CHE4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14850000 | PA      | $14852970.00  | 0.79%             | 2028-05-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.0% 06-30-28                          | CUSIP: 91282CHK0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6906500 | PA      | $6974575.30   | 0.37%             | 2028-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 FS6986 07-01-52                                      | CUSIP: 3140XNXQ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    206195 | PA      | $166878.29    | 0.01%             | 2052-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 FS7329 06-01-52                                      | CUSIP: 3140XPEB1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     99529 | PA      | $80608.45     | 0.00%             | 2052-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNMDI4 3.5 BF0765 09-01-63                                         | CUSIP: 3140FXZ70<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    431149 | PA      | $387725.75    | 0.02%             | 2063-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RJ1779 06-01-54                                      | CUSIP: 3142GR6R6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |  11682140 | PA      | $12064122.18  | 0.64%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT            | HUD 15-A 13 3.15% 08-01-27                                         | CUSIP: 911759MJ4<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |  10250000 | PA      | $10095210.65  | 0.54%             | 2027-08-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT            | HUD 15-A 12 3.10% 08-01-26                                         | CUSIP: 911759MH8<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2200000 | PA      | $2180699.18   | 0.12%             | 2026-08-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 CB8755 06-01-54                                      | CUSIP: 3140QUWR3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   3015512 | PA      | $3096747.13   | 0.17%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 BU4700 07-01-54                                      | CUSIP: 3140M6GJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   7275900 | PA      | $7471905.50   | 0.40%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT            | HUD 15-A 18 3.60% 08-01-32                                         | CUSIP: 911759MP0<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2167000 | PA      | $2052222.68   | 0.11%             | 2032-08-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT            | HUD 15-A 15 3.35% 08-01-29                                         | CUSIP: 911759ML9<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2020000 | PA      | $1978830.78   | 0.11%             | 2029-08-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 QI8874 07-01-54                                      | CUSIP: 3133WF2F3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   2979383 | PA      | $3055431.74   | 0.16%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 CB8872 07-01-54                                      | CUSIP: 3140QU2E5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   6547844 | PA      | $6826297.79   | 0.36%             | 2054-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT            | HUD 15-A 20 3.70% 08-01-34                                         | CUSIP: 911759MR6<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    330000 | PA      | $307720.05    | 0.02%             | 2034-08-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT            | HUD 15-A 14 3.25% 08-01-28                                         | CUSIP: 911759MK1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   3064000 | PA      | $3015400.36   | 0.16%             | 2028-08-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 CB8725 06-01-54                                      | CUSIP: 3140QUVT0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   4261631 | PA      | $4413545.18   | 0.24%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 CB8876 07-01-54                                      | CUSIP: 3140QU2J4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1883819 | PA      | $1958320.78   | 0.10%             | 2054-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 FS8317 07-01-54                                      | CUSIP: 3140XQG35<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1038401 | PA      | $1082105.88   | 0.06%             | 2054-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD8454 08-01-54                                      | CUSIP: 3132DWMB6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     87442 | PA      | $89437.63     | 0.00%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT            | HUD 15-A 19 3.65% 08-01-33                                         | CUSIP: 911759MQ8<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1639000 | PA      | $1543000.49   | 0.08%             | 2033-08-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT            | HUD 15-A 17 3.55% 08-01-31                                         | CUSIP: 911759MN5<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2074000 | PA      | $1993754.87   | 0.11%             | 2031-08-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT            | HUD 15-A 16 3.50% 08-01-30                                         | CUSIP: 911759MM7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1773000 | PA      | $1721591.87   | 0.09%             | 2030-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ETHIOPIAN LEASING 2012 LLC                                | ETHIOPIAN LEASING 2012 LLC SR SEC 1ST LIEN SF 2.646% 05-12-26      | CUSIP: 29766DAF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     68561 | PA      | $68251.46     | 0.00%             | 2026-05-12      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| PRIVATE EXPORT FUNDING CORPORATION                        | PRIVATE EXPORT FUNDING SR SEC 1ST LIEN 1.4% 07-15-28               | CUSIP: 742651DY5<br>LEI: CYQE6SAYPFKNQJ6FMH60 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2813372.70   | 0.15%             | 2028-07-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| SOUTHAVEN COMBINED CYCLE GENERATION LLC                   | TVA SOUTHAVEN  STRUCTURED SR SEC 1ST LIEN SF 3.846% 08-15-33       | CUSIP: 841215AA4<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    659917 | PA      | $637158.43    | 0.03%             | 2033-08-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 MA5445 08-01-54                                      | CUSIP: 31418FBP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    206842 | PA      | $211571.14    | 0.01%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 FS8361 12-01-53                                      | CUSIP: 3140XQJF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    259965 | PA      | $237768.43    | 0.01%             | 2053-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TENNESSEE VALLEY AUTHORITY                                | TENNESSEE VALLEY AUTHORITY SR UNSEC 4.875% 05-15-35                | CUSIP: 880591FD9<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |   2445000 | PA      | $2528024.87   | 0.14%             | 2035-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FANNIE MAE 7.125% 01-15-30                                         | CUSIP: 31359MFJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |   2000000 | PA      | $2268056.20   | 0.12%             | 2030-01-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 DB6878 06-01-54                                      | CUSIP: 3140AGUC6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    797676 | PA      | $816489.08    | 0.04%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 DB6901 07-01-54                                      | CUSIP: 3140AGU36<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    978221 | PA      | $1001555.21   | 0.05%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.75% 06-30-30                         | CUSIP: 91282CHJ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17030000 | PA      | $17038358.32  | 0.91%             | 2030-06-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.5% 07-15-26                          | CUSIP: 91282CHM6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10366100 | PA      | $10425624.22  | 0.56%             | 2026-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.125% 07-31-28                        | CUSIP: 91282CHQ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17685000 | PA      | $17919662.27  | 0.96%             | 2028-07-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.875% 08-15-33                        | CUSIP: 91282CHT1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3180300 | PA      | $3154515.08   | 0.17%             | 2033-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANKS                                   | FHLB 3.25% 11-16-28                                                | CUSIP: 3130AFFX0<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |   6500000 | PA      | $6425205.15   | 0.34%             | 2028-11-16      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANKS                                   | FED HM LN BK BD 10/1/2025                                          | CUSIP: N/A<br>LEI: 2549001DPIFGXC1TOL40       | Long             | DBT              | USGA              | US        |   5000000 | PA      | $5000000.00   | 0.27%             | 2025-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANKS                                   | FED HM LN BK BD 10/24/2025                                         | CUSIP: 313385NJ1<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |  17400000 | PA      | $17357220.36  | 0.93%             | 2025-10-24      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANKS                                   | FED HM LN BK BD 1/23/2026                                          | CUSIP: 313385SD9<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |  11960000 | PA      | $11816361.60  | 0.63%             | 2026-01-23      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN BANKS                                   | FHLB 5.5% 07-15-36                                                 | CUSIP: 3133XGAY0<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGA              | US        |    300000 | PA      | $328457.58    | 0.02%             | 2036-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TENNESSEE VALLEY AUTHORITY                                | TVA BOND 4.65% 06-15-35                                            | CUSIP: 880591DX7<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |   1780000 | PA      | $1819377.52   | 0.10%             | 2035-06-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| TENNESSEE VALLEY AUTHORITY                                | TVA BOND 5.88% 04-01-36                                            | CUSIP: 880591CS9<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |    875000 | PA      | $980942.29    | 0.05%             | 2036-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TENNESSEE VALLEY AUTHORITY                                | TVA BOND SER A 4.625% 09-15-60                                     | CUSIP: 880591EJ7<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |    250000 | PA      | $219547.55    | 0.01%             | 2060-09-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TENNESSEE VALLEY AUTHORITY                                | TVA BOND 2.875% 02-01-27                                           | CUSIP: 880591EU2<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |   5000000 | PA      | $4944085.50   | 0.26%             | 2027-02-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT        | AID-MOROCCO SF 7.55% 07-15-26                                      | CUSIP: 34459RAB1<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    645283 | PA      | $654193.71    | 0.03%             | 2026-07-15      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q54782 03-01-48                                          | CUSIP: 3132XXJ42<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     19394 | PA      | $18075.90     | 0.00%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 4.5 Q58411 09-01-48                                          | CUSIP: 3132Y2KZ8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    157440 | PA      | $155888.74    | 0.01%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q17696 04-01-43                                          | CUSIP: 3132J87J3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     21356 | PA      | $20233.00     | 0.00%             | 2043-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 AJ1873 10-01-41                                      | CUSIP: 3138ATCK4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     14593 | PA      | $14231.25     | 0.00%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 2.5% 02-15-45                          | CUSIP: 912810RK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4850000 | PA      | $3475345.10   | 0.19%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q54698 03-01-48                                          | CUSIP: 3132XXGG8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     10718 | PA      | $9961.98      | 0.00%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCT UMBS 2.0 RB5145 02-01-42                                      | CUSIP: 3133KYWE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    615638 | PA      | $532510.06    | 0.03%             | 2042-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 2.125% 02-15-41 | CUSIP: 912810QP6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    140141 | PA      | $140086.43    | 0.01%             | 2041-02-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 0.75% 02-15-42  | CUSIP: 912810QV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1494005 | PA      | $1185438.60   | 0.06%             | 2042-02-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 FM9976 12-01-51                                      | CUSIP: 3140XECN2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    648791 | PA      | $583881.05    | 0.03%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.5 SD0873 02-01-52                                      | CUSIP: 3132DM6J9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   7855964 | PA      | $7312951.96   | 0.39%             | 2052-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 FM7687 06-01-51                                      | CUSIP: 3140XBRH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   4346692 | PA      | $3903129.06   | 0.21%             | 2051-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 MA4305 04-01-51                                      | CUSIP: 31418DYB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      8967 | PA      | $7267.15      | 0.00%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 RA5155 05-01-51                                      | CUSIP: 3133KLWQ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    909101 | PA      | $733671.42    | 0.04%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.5 RA3987 11-01-50                                      | CUSIP: 3133KKNC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1753371 | PA      | $1491347.47   | 0.08%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 AI3510 06-01-41                                      | CUSIP: 3138AG3U0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    127306 | PA      | $130446.69    | 0.01%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 AI1862 05-01-41                                      | CUSIP: 3138AFB82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    253718 | PA      | $259976.05    | 0.01%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 AJ0704 09-01-41                                      | CUSIP: 3138ARYA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    117625 | PA      | $120666.44    | 0.01%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 AJ5391 11-01-41                                      | CUSIP: 3138AW7D9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     66411 | PA      | $68049.47     | 0.00%             | 2041-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 5.0 G06459 05-01-41                                          | CUSIP: 3128M8QL1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    468358 | PA      | $480478.38    | 0.03%             | 2041-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 SD8128 02-01-51                                      | CUSIP: 3132DWA52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     31089 | PA      | $25301.63     | 0.00%             | 2051-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 0.625% 02-15-43 | CUSIP: 912810RA8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1742324 | PA      | $1324048.44   | 0.07%             | 2043-02-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 2.5% 02-15-46                          | CUSIP: 912810RQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3900000 | PA      | $2752460.88   | 0.15%             | 2046-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 2.5% 05-15-46                          | CUSIP: 912810RS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1585000 | PA      | $1114581.35   | 0.06%             | 2046-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 2.875% 11-15-46                        | CUSIP: 912810RU4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2700000 | PA      | $2021186.79   | 0.11%             | 2046-11-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 SD8134 03-01-51                                      | CUSIP: 3132DWBB8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     51775 | PA      | $42105.03     | 0.00%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 SD8106 11-01-50                                      | CUSIP: 3132DWAF0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1154403 | PA      | $940240.32    | 0.05%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.0% 08-15-48                          | CUSIP: 912810SD1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    750000 | PA      | $563850.53    | 0.03%             | 2048-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.0% 10-31-25                          | CUSIP: 9128285J5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1395400 | PA      | $1394064.60   | 0.07%             | 2025-10-31      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.0 SD7544 07-01-51                                      | CUSIP: 3132DVLZ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    130588 | PA      | $117311.97    | 0.01%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FHARM FRN 8D0226 05-01-52                                          | CUSIP: 3142BNHB3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    420737 | PA      | $386232.13    | 0.02%             | 2052-05-01      | Variable      | 2.54%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 1.375% 08-15-50                        | CUSIP: 912810SP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4330000 | PA      | $2176608.73   | 0.12%             | 2050-08-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 2.375% 05-15-51                        | CUSIP: 912810SX7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6280000 | PA      | $4040204.72   | 0.22%             | 2051-05-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 FS0647 02-01-52                                      | CUSIP: 3140XFWH0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   3002069 | PA      | $2687677.23   | 0.14%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 RA6406 11-01-51                                      | CUSIP: 3133KNDK6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    404343 | PA      | $328312.14    | 0.02%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 1.25% 06-30-28                         | CUSIP: 91282CCH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3325000 | PA      | $3120122.15   | 0.17%             | 2028-06-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 1.0% 07-31-28                          | CUSIP: 91282CCR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    970000 | PA      | $901850.71    | 0.05%             | 2028-07-31      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.0 RA7938 09-01-52                                      | CUSIP: 3133KPZB7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   9144445 | PA      | $9130966.05   | 0.49%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 FM9416 07-01-45                                      | CUSIP: 3140XDPA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   3438551 | PA      | $3234349.25   | 0.17%             | 2045-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 2.0% 08-15-51                          | CUSIP: 912810SZ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5225700 | PA      | $3061454.92   | 0.16%             | 2051-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 1.875% 11-15-51                        | CUSIP: 912810TB4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3163600 | PA      | $1790157.86   | 0.10%             | 2051-11-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.625% 03-15-26                        | CUSIP: 91282CGR6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11050000 | PA      | $11088847.38  | 0.59%             | 2026-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.0% 07-31-30                          | CUSIP: 91282CHR5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1185000 | PA      | $1198413.13   | 0.06%             | 2030-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 FM3280 05-01-49                                      | CUSIP: 3140X6UE9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    884978 | PA      | $832486.88    | 0.04%             | 2049-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCT UMBS 2.5 RB5154 04-01-42                                      | CUSIP: 3133KYWP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   8852997 | PA      | $7870889.75   | 0.42%             | 2042-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.375% 08-15-43                        | CUSIP: 912810TU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     40000 | PA      | $38611.29     | 0.00%             | 2043-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.625% 09-15-26                        | CUSIP: 91282CHY0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10209000 | PA      | $10295138.44  | 0.55%             | 2026-09-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 BU3058 12-01-51                                      | CUSIP: 3140M4MG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1985757 | PA      | $1676749.50   | 0.09%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.5 MA4805 11-01-52                                      | CUSIP: 31418EKT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      7690 | PA      | $7496.18      | 0.00%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.875% 10-31-30                        | CUSIP: 91282CJG7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    625000 | PA      | $657080.06    | 0.04%             | 2030-10-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCI UMBS 4.0 MA2746 09-01-36                                      | CUSIP: 31418CBQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    987944 | PA      | $977553.21    | 0.05%             | 2036-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 FM8422 08-01-51                                      | CUSIP: 3140XCLC0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    493892 | PA      | $417170.62    | 0.02%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 CB1868 10-01-51                                      | CUSIP: 3140QMCE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    991259 | PA      | $836191.03    | 0.04%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCT UMBS 4.0 MA2588 04-01-36                                      | CUSIP: 31418B2W5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    429833 | PA      | $425554.39    | 0.02%             | 2036-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FHARM FRN 760014 08-01-45                                          | CUSIP: 31342WAP6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    207584 | PA      | $207377.64    | 0.01%             | 2045-08-01      | Variable      | 4.64%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.5 QE2352 05-01-52                                      | CUSIP: 3133BBTH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    820341 | PA      | $692753.52    | 0.04%             | 2052-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 CB3354 04-01-52                                      | CUSIP: 3140QNWQ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   7087120 | PA      | $5978269.58   | 0.32%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 FM1443 09-01-49                                      | CUSIP: 3140X4S98<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    244604 | PA      | $228778.09    | 0.01%             | 2049-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 FM1062 06-01-49                                      | CUSIP: 3140X4FC5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    331868 | PA      | $311107.25    | 0.02%             | 2049-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 931768 08-01-39                                      | CUSIP: 31412QFH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      3709 | PA      | $3800.11      | 0.00%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS AT0300 03-01-43                                          | CUSIP: 3138WMKN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      3988 | PA      | $3823.02      | 0.00%             | 2043-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCT UMBS 6.5 257431 10-01-28                                      | CUSIP: 31371N4Q5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |       729 | PA      | $752.84       | 0.00%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.0 QD8673 03-01-52                                      | CUSIP: 3133B6T67<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1995609 | PA      | $1754954.23   | 0.09%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 BH2847 05-01-47                                      | CUSIP: 3140GREV2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      1599 | PA      | $1495.57      | 0.00%             | 2047-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 AD3566 10-01-35                                      | CUSIP: 31418Q6C2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      2434 | PA      | $2493.59      | 0.00%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.0 SD8225 07-01-52                                      | CUSIP: 3132DWD67<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   3155244 | PA      | $2775280.22   | 0.15%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 CB6485 06-01-53                                      | CUSIP: 3140QSF30<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   2801908 | PA      | $2873381.96   | 0.15%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 BH2846 05-01-47                                      | CUSIP: 3140GREU4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      6316 | PA      | $5920.39      | 0.00%             | 2047-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 695412 06-01-33                                      | CUSIP: 31400RR94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |       319 | PA      | $326.30       | 0.00%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RA9287 06-01-53                                      | CUSIP: 3133KRJ88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1088302 | PA      | $1145782.78   | 0.06%             | 2053-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RA9279 06-01-53                                      | CUSIP: 3133KRJY1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    387964 | PA      | $400260.90    | 0.02%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q54700 03-01-48                                          | CUSIP: 3132XXGJ2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     33874 | PA      | $31508.04     | 0.00%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q19133 06-01-43                                          | CUSIP: 3132JASX4<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     21951 | PA      | $20715.48     | 0.00%             | 2043-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RA9288 06-01-53                                      | CUSIP: 3133KRJ96<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1549224 | PA      | $1629472.58   | 0.09%             | 2053-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RA9289 06-01-53                                      | CUSIP: 3133KRKA1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1579581 | PA      | $1660330.60   | 0.09%             | 2053-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 BK5232 05-01-48                                      | CUSIP: 3140HJY62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     47444 | PA      | $45683.78     | 0.00%             | 2048-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 4.0 Q56175 05-01-48                                          | CUSIP: 3132XY2H9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     32653 | PA      | $31479.87     | 0.00%             | 2048-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RA9290 06-01-53                                      | CUSIP: 3133KRKB9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    845181 | PA      | $886372.71    | 0.05%             | 2053-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RA9281 06-01-53                                      | CUSIP: 3133KRJ21<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    231064 | PA      | $238405.36    | 0.01%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 AT7161 06-01-43                                      | CUSIP: 3138WU5X7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     28754 | PA      | $27135.51     | 0.00%             | 2043-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.5 RA1463 10-01-49                                      | CUSIP: 3133KGTU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    298657 | PA      | $279973.27    | 0.01%             | 2049-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q54781 03-01-48                                          | CUSIP: 3132XXJ34<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     27281 | PA      | $25518.32     | 0.00%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q54699 03-01-48                                          | CUSIP: 3132XXGH6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     18023 | PA      | $16775.76     | 0.00%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RA9291 06-01-53                                      | CUSIP: 3133KRKC7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    527167 | PA      | $546806.42    | 0.03%             | 2053-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RA9292 06-01-53                                      | CUSIP: 3133KRKD5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1685336 | PA      | $1755597.55   | 0.09%             | 2053-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q54831 03-01-48                                          | CUSIP: 3132XXLM9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     11561 | PA      | $10839.57     | 0.00%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 BK6840 06-01-48                                      | CUSIP: 3140HLS64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     63184 | PA      | $60839.03     | 0.00%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 AC0794 10-01-39                                      | CUSIP: 31417J3C2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     17668 | PA      | $18103.68     | 0.00%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.5 QA2748 09-01-49                                      | CUSIP: 31339SBR5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     36487 | PA      | $34076.88     | 0.00%             | 2049-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RA9283 06-01-53                                      | CUSIP: 3133KRJ47<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    339294 | PA      | $347789.60    | 0.02%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RA9294 06-01-53                                      | CUSIP: 3133KRKF0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1894158 | PA      | $1973523.29   | 0.11%             | 2053-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RA9284 06-01-53                                      | CUSIP: 3133KRJ54<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    189145 | PA      | $196676.95    | 0.01%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RA9295 06-01-53                                      | CUSIP: 3133KRKG8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    463391 | PA      | $493007.91    | 0.03%             | 2053-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8342 07-01-53                                      | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |  16482860 | PA      | $16669561.42  | 0.89%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8331 06-01-53                                      | CUSIP: 3132DWHG1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1410866 | PA      | $1428015.54   | 0.08%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 MA5072 07-01-53                                      | CUSIP: 31418ET67<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   9474262 | PA      | $9572765.67   | 0.51%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8316 04-01-53                                      | CUSIP: 3132DWGZ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    836635 | PA      | $847328.43    | 0.05%             | 2053-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 MA4979 04-01-53                                      | CUSIP: 31418EQ94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   2037435 | PA      | $2064282.37   | 0.11%             | 2053-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD2948 11-01-52                                      | CUSIP: 3132DQHZ2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1864696 | PA      | $1889073.02   | 0.10%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.0 RA3384 08-01-50                                      | CUSIP: 3133KJXM9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     24087 | PA      | $21386.51     | 0.00%             | 2050-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 CA7052 09-01-50                                      | CUSIP: 3140QEZS4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     24537 | PA      | $21793.85     | 0.00%             | 2050-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 BW1243 10-01-52                                      | CUSIP: 3140MSLZ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    532322 | PA      | $539666.74    | 0.03%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 BW1289 10-01-52                                      | CUSIP: 3140MSNF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    591144 | PA      | $599118.25    | 0.03%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.0 SD0470 11-01-47                                      | CUSIP: 3132DMQX6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   5621481 | PA      | $5390792.07   | 0.29%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.0 ZT2265 08-01-48                                      | CUSIP: 3132AEQS8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   5251995 | PA      | $5049147.48   | 0.27%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD3083 06-01-53                                      | CUSIP: 3132DQM86<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1862521 | PA      | $1910529.32   | 0.10%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD3857 09-01-53                                      | CUSIP: 3132E0JA1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |  37203307 | PA      | $38178405.22  | 2.04%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RA9857 09-01-53                                      | CUSIP: 3133KR5S9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   2045822 | PA      | $2097699.59   | 0.11%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 CB5912 03-01-53                                      | CUSIP: 3140QRSA2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    560753 | PA      | $578503.09    | 0.03%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 MA5107 08-01-53                                      | CUSIP: 31418EU99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    195213 | PA      | $197242.69    | 0.01%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 MA5167 10-01-53                                      | CUSIP: 31418EW55<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    211010 | PA      | $218385.09    | 0.01%             | 2053-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 BX1004 10-01-52                                      | CUSIP: 3140N5DJ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   4749975 | PA      | $4730172.05   | 0.25%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 SD2979 05-01-53                                      | CUSIP: 3132DQJY3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    242607 | PA      | $254402.41    | 0.01%             | 2053-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 MA5166 10-01-53                                      | CUSIP: 31418EW48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    492550 | PA      | $504702.74    | 0.03%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 FS5994 10-01-52                                      | CUSIP: 3140XMUU8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   7939963 | PA      | $7918231.14   | 0.42%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 FS4611 09-01-52                                      | CUSIP: 3140XLDR6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   8258889 | PA      | $8235012.96   | 0.44%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD4053 10-01-53                                      | CUSIP: 3132E0QE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   4527953 | PA      | $4645335.36   | 0.25%             | 2053-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8372 11-01-53                                      | CUSIP: 3132DWJR5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   3109764 | PA      | $3147140.64   | 0.17%             | 2053-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8362 09-01-53                                      | CUSIP: 3132DWJF1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    705981 | PA      | $713538.84    | 0.04%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.5 SD8370 11-01-53                                      | CUSIP: 3132DWJP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    698926 | PA      | $679073.33    | 0.04%             | 2053-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8395 01-01-54                                      | CUSIP: 3132DWKG7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1916584 | PA      | $1938289.02   | 0.10%             | 2054-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 FS6362 08-01-52                                      | CUSIP: 3140XNB86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   2223988 | PA      | $2037324.10   | 0.11%             | 2052-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD4894 02-01-54                                      | CUSIP: 3132DSNK4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   4058302 | PA      | $4185903.60   | 0.22%             | 2054-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 CB7624 12-01-53                                      | CUSIP: 3140QTPJ2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |  11395851 | PA      | $11825371.78  | 0.63%             | 2053-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 CB5118 11-01-52                                      | CUSIP: 3140QQVL6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     51104 | PA      | $48288.06     | 0.00%             | 2052-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 FS6873 01-01-54                                      | CUSIP: 3140XNT79<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   3274825 | PA      | $3388013.16   | 0.18%             | 2054-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.0 QD9477 04-01-52                                      | CUSIP: 3133B7Q68<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    331496 | PA      | $312936.82    | 0.02%             | 2052-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 CB3140 03-01-52                                      | CUSIP: 3140QNP22<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    412219 | PA      | $389885.70    | 0.02%             | 2052-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 MA5236 12-01-53                                      | CUSIP: 31418EZA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     22699 | PA      | $21417.08     | 0.00%             | 2053-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 MA5587 01-01-55                                      | CUSIP: 31418FF51<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1765071 | PA      | $1805208.65   | 0.10%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD8507 02-01-55                                      | CUSIP: 3132DWNY5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   2486391 | PA      | $2543916.15   | 0.14%             | 2055-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD8516 03-01-55                                      | CUSIP: 3132DWN90<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1480313 | PA      | $1513976.69   | 0.08%             | 2055-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 QD7967 02-01-52                                      | CUSIP: 3133B5Z88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    295283 | PA      | $238904.52    | 0.01%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 BW7290 07-01-52                                      | CUSIP: 3140N0C45<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    998058 | PA      | $878517.59    | 0.05%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 CB2666 01-01-52                                      | CUSIP: 3140QM6C3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    973472 | PA      | $856074.49    | 0.05%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 CB3523 05-01-52                                      | CUSIP: 3140QN4H2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    169430 | PA      | $149294.95    | 0.01%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 CB3247 04-01-52                                      | CUSIP: 3140QNTD4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    500294 | PA      | $439961.85    | 0.02%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.0 SD6203 06-01-52                                      | CUSIP: 3132DT3L2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    267716 | PA      | $235434.30    | 0.01%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 FS1294 03-01-52                                      | CUSIP: 3140XGNL9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    859526 | PA      | $755872.53    | 0.04%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RQ0028 07-01-55                                      | CUSIP: 3142J6A60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1300216 | PA      | $1329191.59   | 0.07%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 MA5761 07-01-55                                      | CUSIP: 31418FMK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    701186 | PA      | $716811.82    | 0.04%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 DC1075 08-01-54                                      | CUSIP: 3140ANFR5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    261174 | PA      | $267438.97    | 0.01%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.5 QE1489 05-01-52                                      | CUSIP: 3133BAUN9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    793760 | PA      | $725908.03    | 0.04%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 MA5458 06-01-54                                      | CUSIP: 31418FB48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     25200 | PA      | $23045.59     | 0.00%             | 2054-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 FA1162 04-01-55                                      | CUSIP: 3140W1JG9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     76648 | PA      | $78379.75     | 0.00%             | 2055-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 DD4459 04-01-55                                      | CUSIP: 3140B45V8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     72580 | PA      | $74214.90     | 0.00%             | 2055-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 DC5696 11-01-54                                      | CUSIP: 3140ATKJ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   2886126 | PA      | $2954663.32   | 0.16%             | 2054-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 MA5793 08-01-55                                      | CUSIP: 31418FNK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    802772 | PA      | $820662.38    | 0.04%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.5 RA4528 02-01-51                                      | CUSIP: 3133KLA56<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    723040 | PA      | $610357.40    | 0.03%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RQ0041 08-01-55                                      | CUSIP: 3142J6BK8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    665721 | PA      | $680556.89    | 0.04%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 QJ3296 08-01-54                                      | CUSIP: 3133CTUV9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     54166 | PA      | $55436.16     | 0.00%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 BU4916 08-01-54                                      | CUSIP: 3140M6PA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    108478 | PA      | $111146.66    | 0.01%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 DC3459 09-01-54                                      | CUSIP: 3140AQZZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     49745 | PA      | $50869.66     | 0.00%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 DC3262 09-01-54                                      | CUSIP: 3140AQTU6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     97014 | PA      | $99216.20     | 0.01%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD5813 07-01-54                                      | CUSIP: 3132DTN63<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    237781 | PA      | $245192.41    | 0.01%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 FS8757 08-01-54                                      | CUSIP: 3140XQWT0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    229125 | PA      | $235839.01    | 0.01%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 CC0879 08-01-55                                      | CUSIP: 3140Y66R6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    479009 | PA      | $494118.67    | 0.03%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.0 SD8320 02-01-53                                      | CUSIP: 3132DWG56<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    667459 | PA      | $587195.47    | 0.03%             | 2053-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD6286 08-01-54                                      | CUSIP: 3132DT6X3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   4089316 | PA      | $4156793.82   | 0.22%             | 2054-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 SD6288 09-01-54                                      | CUSIP: 3132DT6Z8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   4766825 | PA      | $4973952.57   | 0.27%             | 2054-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8401 02-01-54                                      | CUSIP: 3132DWKN2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    923064 | PA      | $932876.05    | 0.05%             | 2054-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD8439 06-01-54                                      | CUSIP: 3132DWLU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |       808 | PA      | $826.16       | 0.00%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE I POOL                                         | GNSF 6.0 782365 07-15-38                                           | CUSIP: 36241KTW8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     56954 | PA      | $60040.41     | 0.00%             | 2038-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE I POOL                                         | GNSF 5.5 700778 10-15-38                                           | CUSIP: 36296TQ71<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     10654 | PA      | $10928.41     | 0.00%             | 2038-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 FS9009 09-01-54                                      | CUSIP: 3140XRAK1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1922117 | PA      | $1953833.88   | 0.10%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 FS3056 10-01-52                                      | CUSIP: 3140XJME0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   3237301 | PA      | $2622149.06   | 0.14%             | 2052-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.5 QD3619 12-01-51                                      | CUSIP: 3133B1AU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    105295 | PA      | $88921.64     | 0.00%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 FM9530 07-01-51                                      | CUSIP: 3140XDSU1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    262347 | PA      | $221310.09    | 0.01%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 FS5037 02-01-52                                      | CUSIP: 3140XLS33<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    374573 | PA      | $316435.89    | 0.02%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 SD4318 11-01-53                                      | CUSIP: 3132E0YP1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |  10267860 | PA      | $10685916.02  | 0.57%             | 2053-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 BU5165 11-01-54                                      | CUSIP: 3140M6W33<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    202978 | PA      | $205485.62    | 0.01%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 CB8507 05-01-54                                      | CUSIP: 3140QUNZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1755710 | PA      | $1830823.15   | 0.10%             | 2054-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RJ1792 06-01-54                                      | CUSIP: 3142GR7E4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   2650712 | PA      | $2770118.23   | 0.15%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RJ1535 05-01-54                                      | CUSIP: 3142GRV56<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1159539 | PA      | $1209107.29   | 0.06%             | 2054-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 BU5166 10-01-54                                      | CUSIP: 3140M6W41<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1445178 | PA      | $1483330.21   | 0.08%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE I POOL                                         | GNSF 5.5 698668 11-15-38                                           | CUSIP: 36296RFH5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     25218 | PA      | $26027.83     | 0.00%             | 2038-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 6.5 004269 10-20-38                                           | CUSIP: 36202EW62<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    116569 | PA      | $124718.13    | 0.01%             | 2038-10-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE I POOL                                         | GNSF 5.0 698406 07-15-39                                           | CUSIP: 36296Q3P2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    115185 | PA      | $118194.55    | 0.01%             | 2039-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 2.0 MA6994 11-20-50                                           | CUSIP: 36179VXX3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    749834 | PA      | $620681.49    | 0.03%             | 2050-11-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 5.5 783689 02-20-40                                           | CUSIP: 3622A2C26<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1689999 | PA      | $1746875.93   | 0.09%             | 2040-02-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 6.0 783690 09-20-39                                           | CUSIP: 3622A2C34<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     61609 | PA      | $65151.67     | 0.00%             | 2039-09-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 5.0 783688 06-20-41                                           | CUSIP: 3622A2CZ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    613956 | PA      | $625257.37    | 0.03%             | 2041-06-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 4.5 783687 12-20-41                                           | CUSIP: 3622A2CY6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    417650 | PA      | $411375.67    | 0.02%             | 2041-12-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 3.0 MA0533 11-20-42                                           | CUSIP: 36179MSW1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     14321 | PA      | $13207.21     | 0.00%             | 2042-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 2.0 MA7051 12-20-50                                           | CUSIP: 36179VZQ6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    656662 | PA      | $543355.71    | 0.03%             | 2050-12-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 2.5 MA7534 08-20-51                                           | CUSIP: 36179WLP1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1905608 | PA      | $1643125.59   | 0.09%             | 2051-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 2.5 MA7827 01-20-52                                           | CUSIP: 36179WVU9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     79734 | PA      | $68726.37     | 0.00%             | 2052-01-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 3.5 MA8044 05-20-52                                           | CUSIP: 36179W5D6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   2053367 | PA      | $1889998.80   | 0.10%             | 2052-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 3.0 MA7937 03-20-52                                           | CUSIP: 36179WZA9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    230044 | PA      | $205585.97    | 0.01%             | 2052-03-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 2.5 MA7987 04-20-52                                           | CUSIP: 36179W2U1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    846721 | PA      | $729826.20    | 0.04%             | 2052-04-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 3.0 MA7988 04-20-52                                           | CUSIP: 36179W2V9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    179986 | PA      | $160849.67    | 0.01%             | 2052-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 4.0 MA8346 10-20-52                                           | CUSIP: 36179XHX7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    298702 | PA      | $283588.47    | 0.02%             | 2052-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNMA_21-2        | GNR 2021-2 AH 1.5% 06-16-63                                        | CUSIP: 38380RNG1<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |    422084 | PA      | $314342.29    | 0.02%             | 2063-06-16      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 2.5 785998 03-20-52                                           | CUSIP: 3622ABRT1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    725770 | PA      | $621088.32    | 0.03%             | 2052-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 2.5 786647 03-20-52                                           | CUSIP: 3622ACHY9<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1504191 | PA      | $1298417.36   | 0.07%             | 2052-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 2.5 786502 02-20-52                                           | CUSIP: 3622ACDF4<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   2936089 | PA      | $2524507.98   | 0.13%             | 2052-02-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GINNIE MAE II POOL                                        | G2SF 3.5 TBA 10-01-55                                              | CUSIP: 21H0326A3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1411086 | PA      | $1286810.24   | 0.07%             | 2055-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SEASONED CREDIT RISK TRANSFER SCRT_17-1                   | SCRT 2017-1 HA FRN 01-25-56                                        | CUSIP: 35563PAP4<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |   3405425 | PA      | $3209480.49   | 0.17%             | 2056-01-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| SEASONED CREDIT RISK TRANSFER SCRT_17-2                   | SCRT 2017-2 HA FRN 08-25-56                                        | CUSIP: 35563PBF5<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |   3108794 | PA      | $2918887.29   | 0.16%             | 2056-08-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCI 2.0 UMBS TBA 10-01-40                                         | CUSIP: 01F0204A4<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    948991 | PA      | $872422.61    | 0.05%             | 2040-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCI 4.0 UMBS TBA 10-01-40                                         | CUSIP: 01F0404A2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    920000 | PA      | $904938.68    | 0.05%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCI 5.0 UMBS TBA 10-01-40                                         | CUSIP: 01F0504A1<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    780000 | PA      | $788155.68    | 0.04%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                     | PACCAR FINANCIAL CORP. CP 10/29/2025                               | CUSIP: 69372AXV9<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8969787.00   | 0.48%             | 2025-10-29      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                               | WALMART INC 4(a)(2) CP 10/14/2025                                  | CUSIP: 93114EXE2<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9984160.00   | 0.53%             | 2025-10-14      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | FSWP: OIS PAYFIX USD 3.175% 02-01-28/02-01-38 LCH                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $879099.20    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | FSWP: OIS RECFIX USD 3.5405% 01-23-25/01-23-27 LCH                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-77.44       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | FSWP: OIS RECFIX USD 3.535% 01-23-25/01-23-27 LCH                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-998.40      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | FSWP: OIS RECFIX USD 3.53% 01-23-25/01-23-27 LCH                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-1027.84     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | FSWP: OIS PAYFIX USD 3.5485% 01-29-25/01-29-30 LCH                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-38244.44    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | FSWP: OIS PAYFIX USD 3.529% 01-29-25/01-29-30 LCH                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-31545.60    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | FSWP: OIS PAYFIX USD 3.528% 01-29-25/01-29-30 LCH                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-26127.20    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | FSWP: OIS RECFIX USD 3.7645% 02-20-25/02-20-27 LCH                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $78226.92     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | FSWP: OIS RECFIX USD 3.761% 02-20-25/02-20-27 LCH                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $38555.32     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | FSWP: OIS RECFIX USD 3.6475% 02-27-26/02-27-28 LCH                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $152730.16    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | FSWP: OIS PAYFIX USD 3.62% 09-02-25/06-30-27 LCH                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-25449.75    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | FSWP: OIS PAYFIX USD 3.41338% 09-02-25/06-30-27 LCH                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $2035.62      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | IFS RECFIX USD CPURNSA 2.665% 08-18-25/08-18-30 LCH                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-9078.43     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | IFS RECFIX USD CPURNSA 2.625% 08-21-25/08-21-30 LCH                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-27348.24    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | IFS RECFIX USD CPURNSA 2.625% 08-22-25/08-22-30 LCH                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-19232.07    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | IFS RECFIX USD CPURNSA 2.6825% 08-27-25/08-27-30 LCH               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-1963.08     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | IFS RECFIX USD CPURNSA 2.755% 08-29-25/08-29-30 LCH                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $18710.08     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 0.5385% 03-26-20/03-26-30 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $5635725.20   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 0.666% 11-19-20/11-19-30 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $1945899.45   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 2.93542% 12-06-22/12-06-52 LCH                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $93707.79     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 2.85282% 12-06-22/12-06-52 LCH                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $99461.92     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.56% 03-01-24/03-01-26 LCH                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $66782.02     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.6275% 03-20-24/03-20-26 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $156182.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.9005% 04-17-24/04-17-26 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $75838.26     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.5895% 05-06-24/05-06-27 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $392042.73    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.815% 05-06-24/05-06-26 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $175555.80    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.723% 05-07-24/05-07-26 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $154526.37    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.659% 05-17-24/05-17-26 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $228820.54    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 4.528% 06-18-24/06-18-26 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-13859.37    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 4.63358% 07-25-24/10-31-25 LCH                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-390.63      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 BV7703 04-01-52                                      | CUSIP: 3140MMRZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   3165948 | PA      | $2565202.70   | 0.14%             | 2052-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 FM6548 03-01-51                                      | CUSIP: 3140XAH21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    893854 | PA      | $735342.69    | 0.04%             | 2051-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCT UMBS 6.5 ZS8907 10-01-26                                      | CUSIP: 3132A93Q8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |       193 | PA      | $194.54       | 0.00%             | 2026-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 FS3759 02-01-53                                      | CUSIP: 3140XKE97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    681806 | PA      | $709303.98    | 0.04%             | 2053-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.0 SD0813 01-01-52                                      | CUSIP: 3132DM3W3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    124230 | PA      | $110963.98    | 0.01%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 BV3076 02-01-52                                      | CUSIP: 3140MGM24<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    391456 | PA      | $316792.54    | 0.02%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.5 QE3999 05-01-52                                      | CUSIP: 3133BDNQ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    412493 | PA      | $377719.62    | 0.02%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 BX3198 12-01-52                                      | CUSIP: 3140N7RU6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     49100 | PA      | $46424.85     | 0.00%             | 2052-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 4.5 Q58436 09-01-48                                          | CUSIP: 3132Y2LS3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     77091 | PA      | $76345.64     | 0.00%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 MA4919 02-01-53                                      | CUSIP: 31418EPD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      8749 | PA      | $8866.16      | 0.00%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 CB4917 10-01-52                                      | CUSIP: 3140QQPB5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     80648 | PA      | $81934.81     | 0.00%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 CB6106 04-01-53                                      | CUSIP: 3140QRYC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    347670 | PA      | $365415.34    | 0.02%             | 2053-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8324 05-01-53                                      | CUSIP: 3132DWG98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    745984 | PA      | $755642.00    | 0.04%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 MA5296 03-01-54                                      | CUSIP: 31418E3E8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    933172 | PA      | $942875.51    | 0.05%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8408 03-01-54                                      | CUSIP: 3132DWKV4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    490501 | PA      | $495576.01    | 0.03%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.5 BM3788 03-01-48                                      | CUSIP: 3140J8F65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   2471878 | PA      | $2311918.27   | 0.12%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC - SCRT SCRT_17-3                              | SCRT 2017-3 HT 3.25% 07-25-56                                      | CUSIP: 35563PBX6<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |    286543 | PA      | $254243.70    | 0.01%             | 2056-07-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 RJ1216 04-01-54                                      | CUSIP: 3142GRK66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    561018 | PA      | $570274.88    | 0.03%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 RJ1215 04-01-54                                      | CUSIP: 3142GRK58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     97359 | PA      | $98356.15     | 0.01%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC - SCRT SCRT_17-3                              | SCRT 2017-3 MT 3.0% 07-25-56                                       | CUSIP: 35563PBS7<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |    712684 | PA      | $625035.62    | 0.03%             | 2056-07-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC FHLMC_18-1SC                                  | SCRT 2018-1 HT 3.0% 05-25-57                                       | CUSIP: 35563PDT3<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |    774950 | PA      | $664706.66    | 0.04%             | 2057-05-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 FM2179 01-01-50                                      | CUSIP: 3140X5M59<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   2816817 | PA      | $2532833.53   | 0.14%             | 2050-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.5 ZT0522 09-01-48                                      | CUSIP: 3132ACSK7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     16245 | PA      | $16045.38     | 0.00%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 MA4237 01-01-51                                      | CUSIP: 31418DV74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     66870 | PA      | $54450.13     | 0.00%             | 2051-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNMDI6 3.0 BF0497 07-01-60                                         | CUSIP: 3140FXRT1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1130094 | PA      | $989126.14    | 0.05%             | 2060-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 MA4208 12-01-50                                      | CUSIP: 31418DVA7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    190659 | PA      | $155328.46    | 0.01%             | 2050-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 5.0 C03518 09-01-40                                          | CUSIP: 31292K4B0<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    230541 | PA      | $236506.96    | 0.01%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.5 SD0726 10-01-51                                      | CUSIP: 3132DMYX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   8084348 | PA      | $6931245.28   | 0.37%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 CB2544 01-01-52                                      | CUSIP: 3140QMZJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1907592 | PA      | $1698338.31   | 0.09%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 FS1374 03-01-52                                      | CUSIP: 3140XGQ44<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1985174 | PA      | $1747810.64   | 0.09%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.5 SD7552 01-01-52                                      | CUSIP: 3132DVL94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    265519 | PA      | $227932.77    | 0.01%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.0 SD8213 05-01-52                                      | CUSIP: 3132DWDS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   7627514 | PA      | $6719603.59   | 0.36%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 FM8745 09-01-51                                      | CUSIP: 3140XCWF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1229741 | PA      | $1038125.42   | 0.06%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 RA5288 05-01-51                                      | CUSIP: 3133KL2V8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   2010706 | PA      | $1645678.37   | 0.09%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 CB0290 04-01-51                                      | CUSIP: 3140QKKC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    570085 | PA      | $463615.32    | 0.02%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FARM 2024-1                                               | FARM 2024-1 A 144A FRN 10-01-53                                    | CUSIP: 30335JAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |    965423 | PA      | $942298.84    | 0.05%             | 2053-10-01      | Variable      | 4.69%                 | Yes           |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 FS6668 12-01-53                                      | CUSIP: 3140XNMS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    506663 | PA      | $512870.26    | 0.03%             | 2053-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.5 QD7089 02-01-52                                      | CUSIP: 3133B42W4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    147766 | PA      | $136095.68    | 0.01%             | 2052-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 BQ3005 10-01-50                                      | CUSIP: 3140KNKT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    456121 | PA      | $388311.97    | 0.02%             | 2050-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.5 SD1385 11-01-51                                      | CUSIP: 3132DNRE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    431388 | PA      | $370550.95    | 0.02%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 CB1527 09-01-51                                      | CUSIP: 3140QLVV5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    564811 | PA      | $480658.36    | 0.03%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 FM7900 07-01-51                                      | CUSIP: 3140XBX62<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    152839 | PA      | $131368.37    | 0.01%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 CA7257 10-01-50                                      | CUSIP: 3140QFB32<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    154407 | PA      | $132789.42    | 0.01%             | 2050-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 FS0523 02-01-52                                      | CUSIP: 3140XFSM4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    163468 | PA      | $139912.44    | 0.01%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNMDI4 4.5 BF0585 12-01-61                                         | CUSIP: 3140FXUK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    334560 | PA      | $324991.47    | 0.02%             | 2061-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 CB2286 12-01-51                                      | CUSIP: 3140QMRG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1018915 | PA      | $872679.28    | 0.05%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 CA6593 08-01-50                                      | CUSIP: 3140QEKF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    723179 | PA      | $621932.48    | 0.03%             | 2050-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 FS0965 11-01-51                                      | CUSIP: 3140XGCB3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     41038 | PA      | $33278.27     | 0.00%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 BR1035 05-01-51                                      | CUSIP: 3140KYEH3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      5407 | PA      | $4382.37      | 0.00%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.5 MA4840 12-01-52                                      | CUSIP: 31418ELW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   2519516 | PA      | $2461461.54   | 0.13%             | 2052-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 BV0162 03-01-52                                      | CUSIP: 3140MDFC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   5207518 | PA      | $4202456.78   | 0.22%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD8496 01-01-55                                      | CUSIP: 3132DWNM1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   3554868 | PA      | $3635695.12   | 0.19%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 MA5647 03-01-55                                      | CUSIP: 31418FHZ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    217419 | PA      | $222348.14    | 0.01%             | 2055-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCT UMBS 6.5 MA5235 12-01-43                                      | CUSIP: 31418EY95<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    953691 | PA      | $988304.31    | 0.05%             | 2043-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 MA5674 04-01-55                                      | CUSIP: 31418FJU2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   2085805 | PA      | $2132287.61   | 0.11%             | 2055-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD8525 04-01-55                                      | CUSIP: 3132DWPJ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    434374 | PA      | $444150.65    | 0.02%             | 2055-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 DC7823 12-01-54                                      | CUSIP: 3140AVVR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     34829 | PA      | $35612.85     | 0.00%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCI UMBS 2.5 CB3701 05-01-37                                      | CUSIP: 3140QPDF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    736865 | PA      | $693402.54    | 0.04%             | 2037-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCI UMBS 2.5 MA4665 07-01-37                                      | CUSIP: 31418EFF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    308616 | PA      | $290526.17    | 0.02%             | 2037-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCI UMBS 2.5 QO0557 07-01-37                                      | CUSIP: 3133WJTN9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1107654 | PA      | $1042310.93   | 0.06%             | 2037-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 FA0608 02-01-55                                      | CUSIP: 3140W0VA0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     27550 | PA      | $27802.70     | 0.00%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 FS5343 07-01-53                                      | CUSIP: 3140XL5D6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    269275 | PA      | $276486.72    | 0.01%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 FS6809 02-01-54                                      | CUSIP: 3140XNR71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    465215 | PA      | $470914.36    | 0.03%             | 2054-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 MA5701 05-01-55                                      | CUSIP: 31418FKP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   3117385 | PA      | $3186856.22   | 0.17%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.0 RQ0012 06-01-55                                      | CUSIP: 3142J6AN3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    659364 | PA      | $654450.81    | 0.03%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 MA5646 03-01-55                                      | CUSIP: 31418FHY6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   7747330 | PA      | $7818318.69   | 0.42%             | 2055-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8515 03-01-55                                      | CUSIP: 3132DWN82<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |      5807 | PA      | $5860.51      | 0.00%             | 2055-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 DB0754 03-01-54                                      | CUSIP: 3140A9ZU7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     41762 | PA      | $42280.57     | 0.00%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 QJ4811 09-01-54                                      | CUSIP: 3133CVKY9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    675890 | PA      | $682376.20    | 0.04%             | 2054-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 MA5215 12-01-53                                      | CUSIP: 31418EYM6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    142454 | PA      | $144100.31    | 0.01%             | 2053-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 DB1235 04-01-54                                      | CUSIP: 3140AALR6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    605048 | PA      | $623710.87    | 0.03%             | 2054-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD8534 05-01-55                                      | CUSIP: 3132DWPT4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    388375 | PA      | $397030.42    | 0.02%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 RA3576 09-01-50                                      | CUSIP: 3133KJ6M9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1341622 | PA      | $1085243.25   | 0.06%             | 2050-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 RA6771 02-01-52                                      | CUSIP: 3133KNQY2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   2387280 | PA      | $1926525.11   | 0.10%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 BR0772 01-01-51                                      | CUSIP: 3140KX2E5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1320260 | PA      | $1066302.74   | 0.06%             | 2051-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 QD5035 01-01-52                                      | CUSIP: 3133B2SY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1326101 | PA      | $1070163.22   | 0.06%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 QD0910 11-01-51                                      | CUSIP: 3133AXAK8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1383639 | PA      | $1116628.27   | 0.06%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 FM8114 06-01-51                                      | CUSIP: 3140XCAQ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1352054 | PA      | $1091142.71   | 0.06%             | 2051-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 BV9262 05-01-52                                      | CUSIP: 3140MPJG7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    787788 | PA      | $693019.30    | 0.04%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 3.0 CB2668 01-01-52                                      | CUSIP: 3140QM6E9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   2336727 | PA      | $2057331.70   | 0.11%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 CB3345 04-01-52                                      | CUSIP: 3140QNWF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   3328045 | PA      | $2692438.41   | 0.14%             | 2052-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 3.0 RA7572 08-01-52                                      | CUSIP: 3133KPMV7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     48494 | PA      | $42690.07     | 0.00%             | 2052-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 RQ0027 07-01-55                                      | CUSIP: 3142J6A52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1233465 | PA      | $1244478.98   | 0.07%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 4.0 Q23190 125K MAX 11-01-43                                 | CUSIP: 3132M3F77<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    110599 | PA      | $107756.18    | 0.01%             | 2043-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.085% 05-09-23/05-09-53 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $131488.02    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.186% 05-09-23/05-09-30 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-20843.68    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.215% 05-10-23/05-10-30 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-16968.75    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 QI2895 04-01-54                                      | CUSIP: 3133W9GC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    491776 | PA      | $506718.26    | 0.03%             | 2054-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 MA5353 05-01-54                                      | CUSIP: 31418E5P1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   5454916 | PA      | $5511358.20   | 0.29%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 MA5010 05-01-53                                      | CUSIP: 31418ER85<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    303535 | PA      | $307465.01    | 0.02%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH FHMS_K751 | FHMS K751 A2 (MF) 4.412% 03-25-30                                  | CUSIP: 3137HA4B9<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |   3875000 | PA      | $3927521.75   | 0.21%             | 2030-03-25      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q28558 09-01-44                                          | CUSIP: 3132M9E75<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    163223 | PA      | $153927.47    | 0.01%             | 2044-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 4.0 Q55971 05-01-48                                          | CUSIP: 3132XYT56<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     44521 | PA      | $42573.91     | 0.00%             | 2048-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP - GOLD                    | FGLMC 3.5 Q54709 03-01-48                                          | CUSIP: 3132XXGT0<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |     40920 | PA      | $38174.57     | 0.00%             | 2048-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.5 BX0097 10-01-52                                      | CUSIP: 3140N4DB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    835567 | PA      | $813940.19    | 0.04%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 BR2095 07-01-51                                      | CUSIP: 3140L0KH9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1305762 | PA      | $1109535.82   | 0.06%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 MA5011 05-01-53                                      | CUSIP: 31418ER93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1729345 | PA      | $1777540.37   | 0.09%             | 2053-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.5 BW1192 09-01-52                                      | CUSIP: 3140MSKE4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    636868 | PA      | $620321.65    | 0.03%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.5 QF2560 11-01-52                                      | CUSIP: 3133BPZZ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    953363 | PA      | $929749.90    | 0.05%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.5 BW9458 10-01-52                                      | CUSIP: 3140N2QL8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    916956 | PA      | $895176.77    | 0.05%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 CB3774 06-01-52                                      | CUSIP: 3140QPFQ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   2520009 | PA      | $2382691.36   | 0.13%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.5 SD1895 11-01-52                                      | CUSIP: 3132DPC89<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    974009 | PA      | $969821.96    | 0.05%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 MA4820 10-01-52                                      | CUSIP: 31418ELA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    207931 | PA      | $216096.61    | 0.01%             | 2052-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 SD8281 12-01-52                                      | CUSIP: 3132DWFW8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   4020735 | PA      | $4180499.12   | 0.22%             | 2052-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.5 SD1608 09-01-52                                      | CUSIP: 3132DNYD9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    119756 | PA      | $116737.94    | 0.01%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCT UMBS 6.5 AL9870 02-01-28                                      | CUSIP: 3138ER6G0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      5601 | PA      | $5781.50      | 0.00%             | 2028-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCT UMBS 6.5 745316 02-01-26                                      | CUSIP: 31403DAR0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |      1687 | PA      | $1741.01      | 0.00%             | 2026-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 940890 06-01-37                                      | CUSIP: 31413BXT3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |       380 | PA      | $397.03       | 0.00%             | 2037-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCT UMBS 6.5 ZA2024 09-01-27                                      | CUSIP: 31329KG99<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |       581 | PA      | $600.15       | 0.00%             | 2027-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.0 SD1496 08-01-52                                      | CUSIP: 3132DNUV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     37220 | PA      | $37174.20     | 0.00%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 FS2489 08-01-52                                      | CUSIP: 3140XHXT9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     46859 | PA      | $46858.30     | 0.00%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.0 QE8282 08-01-52                                      | CUSIP: 3133BJFX5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    783971 | PA      | $781624.02    | 0.04%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 BV2558 06-01-52                                      | CUSIP: 3140MFZY2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     46148 | PA      | $46008.47     | 0.00%             | 2052-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 FS2159 06-01-52                                      | CUSIP: 3140XHMH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     50852 | PA      | $50924.09     | 0.00%             | 2052-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.0 QE7647 08-01-52                                      | CUSIP: 3133BHP83<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     45052 | PA      | $44915.12     | 0.00%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 FS1630 09-01-51                                      | CUSIP: 3140XGY45<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    368758 | PA      | $311069.73    | 0.02%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 CB8328 04-01-54                                      | CUSIP: 3140QUHE9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1211102 | PA      | $1231086.03   | 0.07%             | 2054-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 CB8387 04-01-54                                      | CUSIP: 3140QUJ98<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1200639 | PA      | $1253037.72   | 0.07%             | 2054-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD3386 07-01-53                                      | CUSIP: 3132DQXP6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    598326 | PA      | $606673.25    | 0.03%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD4975 02-01-54                                      | CUSIP: 3132DSQ47<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    195186 | PA      | $199836.66    | 0.01%             | 2054-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD8325 05-01-53                                      | CUSIP: 3132DWHA4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   3588103 | PA      | $3682574.41   | 0.20%             | 2053-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCT UMBS 2.0 FM7365 05-01-41                                      | CUSIP: 3140XBFF2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |  23496393 | PA      | $20455395.88  | 1.09%             | 2041-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 BV8976 08-01-52                                      | CUSIP: 3140MN6N1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    299161 | PA      | $300009.45    | 0.02%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 RJ1448 05-01-54                                      | CUSIP: 3142GRTE0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    479406 | PA      | $484589.14    | 0.03%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 MA5207 11-01-53                                      | CUSIP: 31418EYD6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    956589 | PA      | $902680.75    | 0.05%             | 2053-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 CB3528 05-01-52                                      | CUSIP: 3140QN4N9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    555817 | PA      | $524681.21    | 0.03%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 MA5040 06-01-53                                      | CUSIP: 31418ES68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1351529 | PA      | $1387111.98   | 0.07%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD8332 06-01-53                                      | CUSIP: 3132DWHH9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |  13979922 | PA      | $14345021.93  | 0.77%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.1135% 05-10-23/05-10-53 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $113037.20    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.1605% 05-19-23/05-19-53 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $133387.80    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 MA5039 06-01-53                                      | CUSIP: 31418ES50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   2773801 | PA      | $2808340.01   | 0.15%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 CB6486 06-01-53                                      | CUSIP: 3140QSF48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1737540 | PA      | $1783753.81   | 0.10%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.29% 05-19-23/05-19-30 LCH                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-11355.61    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.0135% 08-21-23/08-21-33 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $38477.66     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 CB6465 06-01-53                                      | CUSIP: 3140QSFF3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1278400 | PA      | $1318887.83   | 0.07%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 MA5073 07-01-53                                      | CUSIP: 31418ET75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1619432 | PA      | $1660061.83   | 0.09%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.625% 09-30-30                        | CUSIP: 91282CHZ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1290000 | PA      | $1340995.25   | 0.07%             | 2030-09-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.75% 11-15-53                         | CUSIP: 912810TV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    205000 | PA      | $205367.95    | 0.01%             | 2053-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.25% 12-31-25                         | CUSIP: 91282CJS1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17685000 | PA      | $17698815.52  | 0.95%             | 2025-12-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.125% 11-30-31                        | CUSIP: 91282CLZ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3240000 | PA      | $3286669.93   | 0.18%             | 2031-11-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.125% 11-30-29                        | CUSIP: 91282CMA6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10200000 | PA      | $10364953.38  | 0.55%             | 2029-11-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.375% 12-31-29                        | CUSIP: 91282CMD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  23475000 | PA      | $24085267.84  | 1.29%             | 2029-12-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.625% 02-15-35                        | CUSIP: 91282CMM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $5197091.50   | 0.28%             | 2035-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD8343 07-01-53                                      | CUSIP: 3132DWHU0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |  17617568 | PA      | $18056474.87  | 0.96%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 CA7739 11-01-50                                      | CUSIP: 3140QFS59<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1557858 | PA      | $1328751.59   | 0.07%             | 2050-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.625% 02-15-55                        | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7370000 | PA      | $7243372.35   | 0.39%             | 2055-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.25% 02-15-28                         | CUSIP: 91282CMN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  48655000 | PA      | $49352513.21  | 2.64%             | 2028-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY INFLATION INDEXED BONDS I/L 2.375% 02-15-55 | CUSIP: 912810UH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9046967 | PA      | $8835992.58   | 0.47%             | 2055-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.125% 02-29-32                        | CUSIP: 91282CMR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9305000 | PA      | $9432397.55   | 0.50%             | 2032-02-29      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.0% 03-31-30                          | CUSIP: 91282CMU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15000000 | PA      | $15173437.50  | 0.81%             | 2030-03-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.875% 03-31-27                        | CUSIP: 91282CMV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  23000000 | PA      | $23071875.00  | 1.23%             | 2027-03-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.125% 03-31-32                        | CUSIP: 91282CMT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $3040312.50   | 0.16%             | 2032-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.25% 05-15-35                         | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1800000 | PA      | $1816593.84   | 0.10%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 5.0% 05-15-45                          | CUSIP: 912810UL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8955000 | PA      | $9299843.62   | 0.50%             | 2045-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.12% 05-31-32                         | CUSIP: 91282CNF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10295000 | PA      | $10426904.69  | 0.56%             | 2032-05-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.75% 06-30-27                         | CUSIP: 91282CNL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  33220000 | PA      | $33283586.40  | 1.78%             | 2027-06-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.0% 06-30-32                          | CUSIP: 91282CNJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16910000 | PA      | $17001155.05  | 0.91%             | 2032-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.875% 06-30-30                        | CUSIP: 91282CNK3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $6037265.40   | 0.32%             | 2030-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.875% 07-31-27                        | CUSIP: 91282CNP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10041521.00  | 0.54%             | 2027-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.25% 08-15-35                         | CUSIP: 91282CNT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5315000 | PA      | $5357769.27   | 0.29%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.75% 08-15-55                         | CUSIP: 912810UM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  18325000 | PA      | $18387994.02  | 0.98%             | 2055-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 4.1615% 11-10-23/05-15-33 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-13958.14    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 4.15% 11-10-23/05-15-33 LCH                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-36545.26    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.6025% 01-08-24/01-08-34 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-12674.17    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.184% 01-10-24/01-10-26 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $3588.80      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.2035% 01-10-24/01-10-26 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $4193.46      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.2045% 01-10-24/01-10-26 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $384.85       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.6765% 02-20-24/02-20-54 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $92715.10     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.6815% 02-20-24/02-20-54 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $68047.55     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.7205% 02-21-24/02-21-54 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $19965.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.568% 03-01-24/03-01-26 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $66690.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD3369 05-01-53                                      | CUSIP: 3132DQW69<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    485127 | PA      | $491407.20    | 0.03%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.5 RA8647 05-01-53                                      | CUSIP: 3133KQTC0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     80996 | PA      | $78945.95     | 0.00%             | 2053-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.5 SD2465 10-01-52                                      | CUSIP: 3132DPW20<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     81227 | PA      | $79213.68     | 0.00%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.5 QE9497 09-01-52                                      | CUSIP: 3133BKRS0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    200177 | PA      | $195925.51    | 0.01%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 3.62% 08-31-27                         | CUSIP: 91282CNV9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2945000 | PA      | $2945115.15   | 0.16%             | 2027-08-31      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.5% 08-15-39                          | CUSIP: 912810QC5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13655000 | PA      | $13758478.96  | 0.73%             | 2039-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED STATES TREASURY                                    | UNITED STATES TREASURY NOTE 4.625% 02-15-40                        | CUSIP: 912810QE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     90000 | PA      | $91589.07     | 0.00%             | 2040-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.344% 04-20-23/04-20-30 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-3194.88     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.128% 04-28-23/04-28-30 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-27005.42    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 2.9405% 04-28-23/04-28-53 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $136338.64    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.259% 05-01-23/05-01-30 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-12639.38    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.0535% 05-01-23/05-01-53 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $242200.96    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.285% 05-01-23/05-01-30 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-9404.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.47875% 08-05-24/08-05-54 LCH                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $334897.92    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.616% 08-05-24/08-05-44 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-252655.20   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.561% 08-09-24/08-09-44 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-252167.04   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.415% 08-09-24/08-09-54 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $335763.53    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.9815% 11-06-24/11-06-44 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-37698.30    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 4.186% 02-18-25/02-18-27 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-482227.41   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.9745% 08-05-25/08-05-55 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-4354.74     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.7175% 08-08-25/08-08-35 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-6789.37     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.326% 09-19-25/09-19-32 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $110261.72    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.4225% 09-22-25/09-22-32 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $45721.58     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | SOFR 90DAY FUT OPT SFRZ5C C @ 97 12-12-25                          | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              |  | US        |       106 | NC      | $1987.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | SOFR 90DAY FUT OPT SFRZ5C C @ 97.5 12-12-25                        | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              |  | US        |       105 | NC      | $656.25       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | SOFR 90DAY FUT OPT SFRZ5C C @ 96.5 12-12-25                        | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              |  | US        |       106 | NC      | $7287.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | SOFR 90DAY FUT OPT SFRZ5C C @ 98 12-12-25                          | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              |  | US        |       338 | NC      | $2112.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | SOFR 90DAY FUT OPT SFRZ5P P @ 95.6875 12-12-25                     | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              |  | US        |      3768 | NC      | $23550.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | FED FUND 30DAY FUT FFV5 10-31-25                                   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              | CORP              | US        |       253 | NC      | $-31973.15    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | SOFR 90DAY FUT SFRH6 06-16-26                                      | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              | CORP              | US        |         3 | NC      | $-3593.67     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | SOFR 90DAY FUT SFRM6 09-15-26                                      | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              | CORP              | US        |       176 | NC      | $-33225.28    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | SOFR 90DAY FUT SFRZ5 03-17-26                                      | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              | CORP              | US        |       255 | NC      | $67782.15     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | UST 5YR FUT FVZ5 12-31-25                                          | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              | CORP              | US        |      2740 | NC      | $142856.14    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | UST 2YR FUT TUZ5 12-31-25                                          | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              | CORP              | US        |      5458 | NC      | $180753.31    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | UST 20YR FUT USZ5 12-19-25                                         | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              | CORP              | US        |       183 | NC      | $455061.40    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | UST 10YR FUT TYZ5 12-19-25                                         | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              | CORP              | US        |       582 | NC      | $148447.74    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.5 QE8579 08-01-52                                      | CUSIP: 3133BJQ88<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    180883 | PA      | $177081.61    | 0.01%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.5 QF0212 09-01-52                                      | CUSIP: 3133BMGV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    812433 | PA      | $792293.23    | 0.04%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | UST 30YR FUT ULTRA WNZ5 12-19-25                                   | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              | CORP              | US        |       324 | NC      | $875834.15    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CME CHICAGO MERCANTILE EXCHANGE                           | UST 10YR FUT ULTRA UXYZ5 12-19-25                                  | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DIR              | CORP              | US        |       122 | NC      | $27483.59     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD8350 08-01-53                                      | CUSIP: 3132DWH30<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |  19241420 | PA      | $19714662.50  | 1.05%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 MA5165 10-01-53                                      | CUSIP: 31418EW30<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |  21057319 | PA      | $21306974.94  | 1.14%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.5 CB6853 08-01-53                                      | CUSIP: 3140QSTK7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    431065 | PA      | $419132.48    | 0.02%             | 2053-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.5 CB6719 07-01-53                                      | CUSIP: 3140QSPD7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    352392 | PA      | $342637.15    | 0.02%             | 2053-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.5 SD3782 10-01-52                                      | CUSIP: 3132E0FX5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   3132518 | PA      | $3054220.81   | 0.16%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 SD3825 09-01-53                                      | CUSIP: 3132E0HA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     81845 | PA      | $84670.80     | 0.00%             | 2053-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 QG1653 04-01-53                                      | CUSIP: 3133C1ZS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    794928 | PA      | $816260.40    | 0.04%             | 2053-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 QG0259 04-01-53                                      | CUSIP: 3133C0JC7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    423964 | PA      | $435368.98    | 0.02%             | 2053-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 QG5227 06-01-53                                      | CUSIP: 3133C5YY1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    779217 | PA      | $799223.58    | 0.04%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RJ0854 01-01-54                                      | CUSIP: 3142GQ5Q1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    367377 | PA      | $380633.16    | 0.02%             | 2054-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RJ1725 06-01-54                                      | CUSIP: 3142GR4K3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    619106 | PA      | $647297.17    | 0.03%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 FS8591 07-01-54                                      | CUSIP: 3140XQRM1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   3755370 | PA      | $3874689.15   | 0.21%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RJ2210 08-01-54                                      | CUSIP: 3142GSN46<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   3179578 | PA      | $3260234.66   | 0.17%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RJ2216 08-01-54                                      | CUSIP: 3142GSPA0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1439665 | PA      | $1475080.50   | 0.08%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.5 RJ2222 08-01-54                                      | CUSIP: 3142GSPG7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   3806545 | PA      | $3968021.98   | 0.21%             | 2054-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 DB7792 08-01-54                                      | CUSIP: 3140AHUS9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    104766 | PA      | $107269.88    | 0.01%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 BU4707 07-01-54                                      | CUSIP: 3140M6GR8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    170511 | PA      | $174576.22    | 0.01%             | 2054-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RJ2314 09-01-54                                      | CUSIP: 3142GSSC3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    493378 | PA      | $505927.72    | 0.03%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RJ2309 09-01-54                                      | CUSIP: 3142GSR75<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    149984 | PA      | $153673.68    | 0.01%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RJ2306 09-01-54                                      | CUSIP: 3142GSR42<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    234582 | PA      | $242541.83    | 0.01%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RJ2308 09-01-54                                      | CUSIP: 3142GSR67<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    247481 | PA      | $255344.65    | 0.01%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RJ2312 09-01-54                                      | CUSIP: 3142GSSA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    266382 | PA      | $274188.34    | 0.01%             | 2054-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 FS8756 08-01-54                                      | CUSIP: 3140XQWS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     91581 | PA      | $94255.49     | 0.01%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD6029 08-01-54                                      | CUSIP: 3132DTVW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    144482 | PA      | $148620.31    | 0.01%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 CB9432 11-01-54                                      | CUSIP: 3140QVPS7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    391893 | PA      | $402868.31    | 0.02%             | 2054-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8493 12-01-54                                      | CUSIP: 3132DWNJ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |      2776 | PA      | $2801.73      | 0.00%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 SD8432 05-01-54                                      | CUSIP: 3132DWLM3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |     74368 | PA      | $76106.50     | 0.00%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 BY1411 02-01-53                                      | CUSIP: 3140NHR91<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1375114 | PA      | $1298205.29   | 0.07%             | 2053-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 CB6590 06-01-53                                      | CUSIP: 3140QSKC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     71997 | PA      | $67961.84     | 0.00%             | 2053-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 FM6856 04-01-51                                      | CUSIP: 3140XATN2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    341444 | PA      | $290677.65    | 0.02%             | 2051-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.5 CB0844 06-01-51                                      | CUSIP: 3140QK5E4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    836572 | PA      | $705709.69    | 0.04%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 4.0 SD4554 08-01-52                                      | CUSIP: 3132DSBX9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    136878 | PA      | $129346.32    | 0.01%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 4.0 DC5704 11-01-54                                      | CUSIP: 3140ATKS4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    132324 | PA      | $124822.06    | 0.01%             | 2054-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.5 CB7242 10-01-53                                      | CUSIP: 3140QTBL2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    652981 | PA      | $677473.49    | 0.04%             | 2053-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.0 MA5552 12-01-54                                      | CUSIP: 31418FE29<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    802010 | PA      | $796221.10    | 0.04%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 MA5531 11-01-54                                      | CUSIP: 31418FED5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |     23871 | PA      | $24095.56     | 0.00%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8469 10-01-54                                      | CUSIP: 3132DWMS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |      3629 | PA      | $3663.14      | 0.00%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 5.5 DA7881 03-01-54                                      | CUSIP: 3140A8XK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    398494 | PA      | $402596.78    | 0.02%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 5.5 SD8475 11-01-54                                      | CUSIP: 3132DWMY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    399998 | PA      | $403793.61    | 0.02%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 FS8795 08-01-54                                      | CUSIP: 3140XQXZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    121897 | PA      | $124698.15    | 0.01%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RJ3240 01-01-55                                      | CUSIP: 3142GTS64<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   3775862 | PA      | $3888851.00   | 0.21%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RJ3301 01-01-55                                      | CUSIP: 3142GTU38<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1509063 | PA      | $1557013.91   | 0.08%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 6.0 RJ3305 01-01-55                                      | CUSIP: 3142GTU79<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1073122 | PA      | $1104825.67   | 0.06%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 6.0 CB9821 01-01-55                                      | CUSIP: 3140QV4F8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |   1040236 | PA      | $1067430.55   | 0.06%             | 2055-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                     | FNCL UMBS 2.0 BV0894 01-01-52                                      | CUSIP: 3140MD7G7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGA              | US        |    466472 | PA      | $377497.41    | 0.02%             | 2052-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 SD5745 03-01-52                                      | CUSIP: 3132DTL24<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |    331736 | PA      | $268507.26    | 0.01%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                           | FNCL UMBS 2.0 QD7087 02-01-52                                      | CUSIP: 3133B42U8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGA              | US        |   1271044 | PA      | $1025721.23   | 0.05%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SEASONED CREDIT RISK TRANSFER SCRT_17-2                   | SCRT 2017-2 MA 3.0% 08-25-56                                       | CUSIP: 35563PBC2<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |   3508863 | PA      | $3310917.95   | 0.18%             | 2056-08-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SEASONED CREDIT RISK TRANSFER SCRT_17-4                   | SCRT 2017-4 HT FRN 06-25-57                                        | CUSIP: 35563PDD8<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |   1082371 | PA      | $980895.50    | 0.05%             | 2057-06-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| SEASONED CREDIT RISK TRANSFER SCRT_18-2                   | SCRT 2018-2 MT 3.5% 11-25-57                                       | CUSIP: 35563PFF1<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |   3421308 | PA      | $3072451.28   | 0.16%             | 2057-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC - SLST SLST_18-2                              | SLST 2018-2 A1 3.5% 11-25-28                                       | CUSIP: 35564CAN7<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |  13387511 | PA      | $13114968.29  | 0.70%             | 2028-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SEASONED CREDIT RISK TRANSFER SCRT_19-2                   | SCRT 2019-2 MA 3.5% 08-25-58                                       | CUSIP: 35563PKG3<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |   1508904 | PA      | $1458800.56   | 0.08%             | 2058-08-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SEASONED CREDIT RISK TRANSFER SCRT_19-1                   | SCRT 2019-1 MA 3.5% 07-25-58                                       | CUSIP: 35563PJF7<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |    400745 | PA      | $389225.76    | 0.02%             | 2058-07-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SEASONED CREDIT RISK TRANSFER SCRT_19-4                   | SCRT 2019-4 MA 3.0% 02-25-59                                       | CUSIP: 35563PML0<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |   1302723 | PA      | $1207888.31   | 0.06%             | 2059-02-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC - SLST SLST_19-3                              | SLST 2019-3 A1C 2.75% 11-25-29                                     | CUSIP: 35564CEE3<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |   3373735 | PA      | $3221558.95   | 0.17%             | 2029-11-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| SEASONED CREDIT RISK TRANSFER SCRT_19-3                   | SCRT 2019-3 MT 3.5% 10-25-58                                       | CUSIP: 35563PLG2<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |    321596 | PA      | $288562.08    | 0.02%             | 2058-10-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SEASONED CREDIT RISK TRANSFER SCRT_19-2                   | SCRT 2019-2 MT 3.5% 08-26-58                                       | CUSIP: 35563PKF5<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |    601566 | PA      | $537639.81    | 0.03%             | 2058-08-26      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SEASONED LOANS STRUCTURED TRANSACTION TRUST SLST_20-1     | SLST 2020-1 A1D 2.0% 07-25-30                                      | CUSIP: 35564CEV5<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |    964462 | PA      | $890805.99    | 0.05%             | 2030-07-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SEASONED LOANS STRUCTURED TRANSACTION TRUST SLST_20-1     | SLST 2020-1 A2D 2.0% 07-25-30                                      | CUSIP: 35564CEZ6<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |    435000 | PA      | $384469.97    | 0.02%             | 2030-07-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SEASONED LOANS STRUCTURED TRANSACTION TRUST SLST_22-1     | SLST 2022-1 A1 3.5% 05-25-32                                       | CUSIP: 35564CLZ8<br>LEI: N/A                  | Long             | ABS-CBDO         | USGA              | US        |   3304034 | PA      | $3205782.00   | 0.17%             | 2032-05-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCL 6.0 UMBS TBA 10-01-55                                         | CUSIP: 01F0606A8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |  19518000 | PA      | $19942399.39  | 1.07%             | 2055-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCL 3.5 UMBS TBA 10-01-55                                         | CUSIP: 01F0326A7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |  16326494 | PA      | $14918431.85  | 0.80%             | 2055-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCL 6.5 UMBS TBA 10-01-55                                         | CUSIP: 01F0626A4<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |  32740435 | PA      | $33838549.19  | 1.81%             | 2055-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCL 7.0 UMBS TBA 10-01-55                                         | CUSIP: 01F0706A7<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |  15590000 | PA      | $16308823.72  | 0.87%             | 2055-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCL 2.5 UMBS TBA 10-01-55                                         | CUSIP: 01F0226A8<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   3472092 | PA      | $2925765.27   | 0.16%             | 2055-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCL 4.5 UMBS TBA 10-01-55                                         | CUSIP: 01F0426A6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |      3662 | PA      | $3552.48      | 0.00%             | 2055-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCL 5.5 UMBS TBA 10-01-55                                         | CUSIP: 01F0526A5<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   4542265 | PA      | $4580392.77   | 0.24%             | 2055-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCL 6.5 UMBS TBA 11-01-55                                         | CUSIP: 01F0626B2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |  50559000 | PA      | $52284376.43  | 2.79%             | 2055-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCL 2.5 UMBS TBA 11-01-55                                         | CUSIP: 01F0226B6<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   1327856 | PA      | $1119127.66   | 0.06%             | 2055-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCL 5.5 UMBS TBA 11-01-55                                         | CUSIP: 01F0526B3<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |   2062735 | PA      | $2078519.05   | 0.11%             | 2055-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNIFORM MBS                                               | FNCI 2.0 UMBS TBA 11-01-40                                         | CUSIP: 01F0204B2<br>LEI: N/A                  | Long             | ABS-MBS          | USGA              | US        |    166389 | PA      | $153074.72    | 0.01%             | 2040-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                              | ALPHABET INC 4(a)(2) CP 12/5/2025                                  | CUSIP: 02079NZ53<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9926560.00   | 0.53%             | 2025-12-05      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| APPLE INC                                                 | APPLE INC 4(a)(2) CP 11/17/2025                                    | CUSIP: 03785DYH3<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |  38500000 | PA      | $38293948.00  | 2.05%             | 2025-11-17      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| CHARIOT FUNDING LLC                                       | CHARIOT FUNDING LLC 4(a)(2) CP 10/16/2025                          | CUSIP: 15963TXG9<br>LEI: 549300EEWRNP448AMT79 | Long             | DBT              | CORP              | US        |  20100000 | PA      | $20063096.40  | 1.07%             | 2025-10-16      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| CHARTA LLC                                                | CHARTA LLC 4(a)(2) CP 11/18/2025                                   | CUSIP: 16115VYJ2<br>LEI: 5493000FNFK79LCM6M65 | Long             | DBT              | CORP              | US        |  19000000 | PA      | $18893372.00  | 1.01%             | 2025-11-18      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| CRC FUNDING LLC                                           | CRC FUNDING LLC 4(a)(2) CP 12/12/2025                              | CUSIP: 12619TZC1<br>LEI: 549300HKCCNTZDBBEN75 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9917500.00   | 0.53%             | 2025-12-12      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| COCA-COLA CO                                              | COCA-COLA COMPANY (THE) 4(a)(2) CP 10/17/2025                      | CUSIP: 19121AXH9<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |  11700000 | PA      | $11677524.30  | 0.62%             | 2025-10-17      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| CAFCO LLC                                                 | CAFCO LLC 4(a)(2) CP 1/14/2026                                     | CUSIP: 1247P3AE2<br>LEI: 8O46YQAGJ63WE5QHIG35 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9881590.00   | 0.53%             | 2026-01-14      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| ESSILORLUXOTTICA SA                                       | ESSILORLUXOTTICA SA 4(a)(2) CP 11/17/2025                          | CUSIP: 29728XYH4<br>LEI: 549300M3VH1A3ER1TB49 | Long             | DBT              | CORP              | FR        |   8000000 | PA      | $7956760.00   | 0.42%             | 2025-11-17      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| KFW                                                       | KFW 4(a)(2) CP 10/30/2025                                          | CUSIP: 48246TXW4<br>LEI: 549300GDPG70E3MBBU98 | Long             | DBT              | CORP              | DE        |  20000000 | PA      | $19932660.00  | 1.06%             | 2025-10-30      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| KOMATSU FINANCE AMERICA INC                               | KOMATSU FINANCE AMERICA INC. 4(a)(2) CP 10/15/2025                 | CUSIP: 50045VXF5<br>LEI: 549300SRAAFEEQ8Z4D68 | Long             | DBT              | CORP              | US        |  16000000 | PA      | $15972768.00  | 0.85%             | 2025-10-15      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LVMH MOET HENNESSY LOUIS VUITTON INC                      | LVMH MOET HENNESSY LOUIS VUITTON I 4(a)(2) CP 10/1/2025            | CUSIP: N/A<br>LEI: 529900YISWVEKZT7CN18       | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4999435.00   | 0.27%             | 2025-10-01      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LIBERTY STREET FUNDING LLC                                | LIBERTY STREET FUNDING LLC 4(a)(2) CP 10/22/2025                   | CUSIP: 53127TXN8<br>LEI: 549300F33VRHM10B9391 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $8478495.00   | 0.45%             | 2025-10-22      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LINDE INC                                                 | LINDE INC CP 10/10/2025                                            | CUSIP: 53522LXA4<br>LEI: ZU69GUVJQGZ6Z1UOOO79 | Long             | DBT              | CORP              | US        |  12800000 | PA      | $12785523.20  | 0.68%             | 2025-10-10      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| LINDE INC                                                 | LINDE INC CP 12/1/2025                                             | CUSIP: 53522LZ12<br>LEI: ZU69GUVJQGZ6Z1UOOO79 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14897595.00  | 0.80%             | 2025-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MANHATTAN ASSET FUNDING COMPANY LLC                       | MANHATTAN ASSET FUNDING CO LLC 4(a)(2) CP 11/12/2025               | CUSIP: 56274LYC2<br>LEI: 549300S0NSJYSOB32S63 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9950590.00   | 0.53%             | 2025-11-12      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| NESTLE FINANCE INTERNATIONAL LTD                          | NESTLE FINANCE INTERNATIONAL LTD 4(a)(2) CP 10/17/2025             | CUSIP: 64106GXH1<br>LEI: 0KLLMNHINTFDRMU6DI05 | Long             | DBT              | CORP              | LU        |  10500000 | PA      | $10479766.50  | 0.56%             | 2025-10-17      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PROCTER & GAMBLE CO                                       | PROCTER & GAMBLE COMPANY (THE) 4(a)(2) CP 10/20/2025               | CUSIP: 74271TXL2<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19954980.00  | 1.07%             | 2025-10-20      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| PACCAR FINANCIAL CORP                                     | PACCAR FINANCIAL CORP. CP 10/3/2025                                | CUSIP: 69372AX31<br>LEI: PH3S12DWZBHHQKVYZ297 | Long             | DBT              | CORP              | US        |  12600000 | PA      | $12595665.60  | 0.67%             | 2025-10-03      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FUNDING LLC                                    | PRUDENTIAL FUNDING LLC CP 10/3/2025                                | CUSIP: 74433GX35<br>LEI: 1DG4ZOS0QLU53YYD8O46 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19993220.00  | 1.07%             | 2025-10-03      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.01413% 01-12-23/01-12-53 LCH                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $220651.30    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.02% 01-12-23/01-12-53 LCH                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $219023.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.27% 02-16-23/02-16-26 LCH                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $10138.07     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.265% 02-16-23/02-16-26 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $4945.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.3035% 02-17-23/02-17-26 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $3388.31      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.2515% 02-17-23/02-17-26 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $2803.34      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.2675% 02-17-23/02-17-26 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $2894.22      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.3005% 02-17-23/02-17-26 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $2322.43      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 4.288% 02-17-23/02-17-26 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $2265.64      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.045% 03-24-23/07-27-50 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $527794.92    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.31% 03-31-23/06-09-30 LCH                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-78253.32    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.45% 03-31-23/02-01-28 LCH                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $22136.25     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.47% 04-03-23/02-02-28 LCH                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $25787.96     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.065% 04-07-23/04-07-40 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-1095211.68  | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.18% 04-17-23/04-17-30 LCH                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-21024.12    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 2.974% 04-17-23/04-17-53 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $131770.48    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.044% 04-18-23/04-18-53 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $122337.28    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.275% 04-18-23/04-18-30 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-10678.20    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.342% 04-19-23/04-19-30 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-3364.40     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.0875% 04-19-23/04-19-53 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $116479.20    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.1035% 04-19-23/04-19-53 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $114321.12    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS RECFIX USD 3.353% 04-19-23/04-19-30 LCH                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $-2162.94     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RISKLESS ISSUER                                           | OIS PAYFIX USD 3.0895% 04-20-23/04-20-53 LCH                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |         1 | NC      | $116210.24    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** AMERICAN FUNDS INSURANCE SERIES

**Signature:** Scott Lewis

**Name of Signer:** Scott Lewis

**Title:** Compliance Specialist Senior