# EDGAR Filing Document

**Accession Number:** 0001547011
**File Stem:** 0001145549-25-045904
**Filing Date:** 2025-7
**Character Count:** 350627
**Document Hash:** 43e496a789828c10a947481d16acea91
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-045904.hdr.sgml**: 20250707

**ACCESSION NUMBER**: 0001145549-25-045904

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 72

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250707

**DATE AS OF CHANGE**: 20250707

**EFFECTIVENESS DATE**: 20250707

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN FUNDS COLLEGE TARGET DATE SERIES
- **CENTRAL INDEX KEY:** 0001547011

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

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22692
- **FILM NUMBER:** 251107741

**BUSINESS ADDRESS:**
- **STREET 1:** 333 SOUTH HOPE STREET, 55TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 213-486-9200

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN FUNDS COLLEGE SAVINGS SERIES
- **DATE OF NAME CHANGE:** 20120410

## Series and Classes Contracts Data

### American Funds College 2030 Fund (Series ID: S000037534)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000115875 | Class 529-A   | CTHAX           |
| C000115877 | Class 529-C   | CTYCX           |
| C000115878 | Class 529-E   | CTHEX           |
| C000115879 | Class 529-F-1 | CTHFX           |
| C000189500 | Class 529-T   | TAFCX           |
| C000224605 | Class 529-F-3 | FTFCX           |
| C000224606 | Class 529-F-2 | FDFCX           |

### American Funds College 2027 Fund (Series ID: S000037535)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000115880 | Class 529-F-1 | CTSFX           |
| C000115881 | Class 529-A   | CSTAX           |
| C000115883 | Class 529-C   | CTSCX           |
| C000115884 | Class 529-E   | CTSEX           |
| C000189501 | Class 529-T   | TAFAX           |
| C000224607 | Class 529-F-2 | FFCFX           |
| C000224608 | Class 529-F-3 | FFCTX           |

### American Funds College Enrollment Fund (Series ID: S000037540)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000115905 | Class 529-A   | CENAX           |
| C000115907 | Class 529-C   | CENCX           |
| C000115908 | Class 529-E   | CENEX           |
| C000115909 | Class 529-F-1 | CENFX           |
| C000189505 | Class 529-T   | TCADX           |
| C000224613 | Class 529-F-3 | FTAOX           |
| C000224614 | Class 529-F-2 | FAADX           |

### American Funds College 2033 Fund (Series ID: S000047905)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000150471 | Class 529-A   | CTLAX           |
| C000150473 | Class 529-C   | CTLCX           |
| C000150474 | Class 529-E   | CTLEX           |
| C000150475 | Class 529-F-1 | CTLFX           |
| C000189506 | Class 529-T   | TCFFX           |
| C000224615 | Class 529-F-2 | FCCFX           |
| C000224616 | Class 529-F-3 | FTCFX           |

### American Funds College 2036 Fund (Series ID: S000061332)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000198563 | Class 529-A   | CCFAX           |
| C000198564 | Class 529-C   | CTDCX           |
| C000198565 | Class 529-E   | CTKEX           |
| C000198566 | Class 529-F-1 | CTAFX           |
| C000198567 | Class 529-T   | TCDTX           |
| C000224617 | Class 529-F-2 | CTAHX           |
| C000224618 | Class 529-F-3 | CTAKX           |

### American Funds College 2039 Fund (Series ID: S000070453)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000223948 | Class 529-F-2 | FCFGX           |
| C000223949 | Class 529-F-1 | CTDFX           |
| C000223950 | Class 529-E   | CTAEX           |
| C000223951 | Class 529-F-3 | FTDHX           |
| C000223952 | Class 529-A   | CDJAX           |
| C000223953 | Class 529-T   | TCATX           |
| C000223954 | Class 529-C   | CTJCX           |

### American Funds College 2042 Fund (Series ID: S000083552)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000247300 | Class 529-F-2 | CAAZX           |
| C000247301 | Class 529-T   | TAAWX           |
| C000247302 | Class 529-F-3 | DAAGX           |
| C000247303 | Class 529-A   | CABAX           |
| C000247304 | Class 529-E   | CAAVX           |
| C000247305 | Class 529-C   | CABCX           |
| C000247306 | Class 529-F-1 | CAAWX           |

?xml version='1.0' encoding='ASCII'? 8ddb4dd9153f3ca

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

------

&nbsp;&nbsp;&nbsp;&nbsp;FORM N-CSR

------

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number

#### 811-22692

#### American Funds College Target Date Series
(Exact name of registrant as specified in charter)

------

6455 Irvine Center Drive

Irvine, California 92618

(Address of principal executive offices)

Gregory F. Niland

5300 Robin Hood Rd.

Norfolk, VA 23513

(Name and address of agent for service)

Registrant's telephone number, including area code:

&nbsp;&nbsp;&nbsp;&nbsp;(949) 975-5000

Date of fiscal year end:

#### October 31
Date of reporting period:

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

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Funds <sup>®</sup> College 2042 Fund
**Class 529-A \| CABAX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2042 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529A. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-A | &nbsp;&nbsp;$24 0.48%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $278 |
| Total number of portfolio holdings | 16 |
| Portfolio turnover rate |  |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529A](images_2038.jpg)

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

Important information

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

Lit. No. MF5ASRX-144-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-C \| CABCX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2042 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529C. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-C | &nbsp;&nbsp;$58 1.18%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $278 |
| Total number of portfolio holdings | 16 |
| Portfolio turnover rate |  |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529C](images_2037.jpg)

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

Important information

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

Lit. No. MF5CSRX-144-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-E \| CAAVX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2042 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529E. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-E | &nbsp;&nbsp;$32 0.64%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $278 |
| Total number of portfolio holdings | 16 |
| Portfolio turnover rate |  |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529E](images_2036.jpg)

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

Important information

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

Lit. No. MF5ESRX-144-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-T \| TAAWX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2042 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-T | &nbsp;&nbsp;$9 0.19%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $278 |
| Total number of portfolio holdings | 16 |
| Portfolio turnover rate |  |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds (Mutual Funds)](images_2052.jpg)

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

Important information

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

Lit. No. MF5TSRX-144-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-1 \| CAAWX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2042 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F1. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-1 | &nbsp;&nbsp;$11 0.23%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $278 |
| Total number of portfolio holdings | 16 |
| Portfolio turnover rate |  |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F1](images_2035.jpg)

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

Important information

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

Lit. No. MF5FSRX-144-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-2 \| CAAZX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2042 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F2. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-2 | &nbsp;&nbsp;$7 0.14%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $278 |
| Total number of portfolio holdings | 16 |
| Portfolio turnover rate |  |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F2](images_2034.jpg)

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

Important information

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

Lit. No. MF5XSRX-144-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-3 \| DAAGX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2042 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F3. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-3 | &nbsp;&nbsp;$5 0.10%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $278 |
| Total number of portfolio holdings | 16 |
| Portfolio turnover rate |  |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F3](images_2033.jpg)

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

Important information

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

Lit. No. MF5YSRX-144-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Funds <sup>®</sup> College 2039 Fund
**Class 529-A \| CDJAX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2039 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529A. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-A | &nbsp;&nbsp;$20 0.41%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $1424 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529A](images_2038.jpg)

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

Important information

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

Lit. No. MF5ASRX-136-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-C \| CTJCX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2039 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529C. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-C | &nbsp;&nbsp;$58 1.17%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $1424 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529C](images_2037.jpg)

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

Important information

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

Lit. No. MF5CSRX-136-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-E \| CTAEX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2039 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529E. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-E | &nbsp;&nbsp;$32 0.64%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $1424 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529E](images_2036.jpg)

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

Important information

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

Lit. No. MF5ESRX-136-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-T \| TCATX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2039 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-T | &nbsp;&nbsp;$9 0.18%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $1424 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds (Mutual Funds)](images_2052.jpg)

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

Important information

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

Lit. No. MF5TSRX-136-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-1 \| CTDFX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2039 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F1. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-1 | &nbsp;&nbsp;$10 0.21%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $1424 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F1](images_2035.jpg)

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

Important information

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

Lit. No. MF5FSRX-136-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-2 \| FCFGX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2039 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F2. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-2 | &nbsp;&nbsp;$7 0.14%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $1424 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F2](images_2034.jpg)

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

Important information

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

Lit. No. MF5XSRX-136-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-3 \| FTDHX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2039 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F3. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-3 | &nbsp;&nbsp;$4 0.08%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $1424 |
| Total number of portfolio holdings | 18 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F3](images_2033.jpg)

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

Important information

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

Lit. No. MF5YSRX-136-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Funds <sup>®</sup> College 2036 Fund
**Class 529-A \| CCFAX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2036 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529A. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-A | &nbsp;&nbsp;$20 0.41%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $2847 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529A](images_2038.jpg)

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

Important information

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

Lit. No. MF5ASRX-125-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-C \| CTDCX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2036 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529C. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-C | &nbsp;&nbsp;$58 1.17%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $2847 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529C](images_2037.jpg)

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

Important information

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

Lit. No. MF5CSRX-125-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-E \| CTKEX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2036 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529E. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-E | &nbsp;&nbsp;$32 0.64%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $2847 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529E](images_2036.jpg)

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

Important information

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

Lit. No. MF5ESRX-125-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-T \| TCDTX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2036 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-T | &nbsp;&nbsp;$8 0.17%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $2847 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds (Mutual Funds)](images_2052.jpg)

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

Important information

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

Lit. No. MF5TSRX-125-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-1 \| CTAFX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2036 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F1. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-1 | &nbsp;&nbsp;$10 0.20%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $2847 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F1](images_2035.jpg)

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

Important information

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

Lit. No. MF5FSRX-125-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-2 \| CTAHX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2036 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F2. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-2 | &nbsp;&nbsp;$7 0.14%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $2847 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F2](images_2034.jpg)

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

Important information

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

Lit. No. MF5XSRX-125-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-3 \| CTAKX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2036 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F3. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-3 | &nbsp;&nbsp;$4 0.08%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $2847 |
| Total number of portfolio holdings | 21 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F3](images_2033.jpg)

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

Important information

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

Lit. No. MF5YSRX-125-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Funds College 2033 Fund <sup>®</sup>
**Class 529-A \| CTLAX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2033 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529A. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-A | &nbsp;&nbsp;$21 0.41%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3650 |
| Total number of portfolio holdings | 19 |
| Portfolio turnover rate | 5% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529A](images_2038.jpg)

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

Important information

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

Lit. No. MF5ASRX-103-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-C \| CTLCX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2033 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529C. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-C | &nbsp;&nbsp;$58 1.16%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3650 |
| Total number of portfolio holdings | 19 |
| Portfolio turnover rate | 5% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529C](images_2037.jpg)

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

Important information

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

Lit. No. MF5CSRX-103-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-E \| CTLEX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2033 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529E. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-E | &nbsp;&nbsp;$32 0.64%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3650 |
| Total number of portfolio holdings | 19 |
| Portfolio turnover rate | 5% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529E](images_2036.jpg)

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

Important information

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

Lit. No. MF5ESRX-103-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-T \| TCFFX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2033 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-T | &nbsp;&nbsp;$9 0.18%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3650 |
| Total number of portfolio holdings | 19 |
| Portfolio turnover rate | 5% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds (Mutual Funds)](images_2052.jpg)

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

Important information

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

Lit. No. MF5TSRX-103-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-1 \| CTLFX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2033 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F1. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-1 | &nbsp;&nbsp;$10 0.20%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3650 |
| Total number of portfolio holdings | 19 |
| Portfolio turnover rate | 5% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F1](images_2035.jpg)

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

Important information

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

Lit. No. MF5FSRX-103-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-2 \| FCCFX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2033 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F2. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-2 | &nbsp;&nbsp;$7 0.14%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3650 |
| Total number of portfolio holdings | 19 |
| Portfolio turnover rate | 5% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F2](images_2034.jpg)

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

Important information

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

Lit. No. MF5XSRX-103-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-3 \| FTCFX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2033 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F3. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-3 | &nbsp;&nbsp;$4 0.07%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3650 |
| Total number of portfolio holdings | 19 |
| Portfolio turnover rate | 5% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F3](images_2033.jpg)

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

Important information

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

Lit. No. MF5YSRX-103-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Funds College 2030 Fund <sup>®</sup>
**Class 529-A \| CTHAX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2030 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529A. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-A | &nbsp;&nbsp;$21 0.41%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $4413 |
| Total number of portfolio holdings | 15 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529A](images_2038.jpg)

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

Important information

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

Lit. No. MF5ASRX-094-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-C \| CTYCX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2030 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529C. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-C | &nbsp;&nbsp;$58 1.16%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $4413 |
| Total number of portfolio holdings | 15 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529C](images_2037.jpg)

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

Important information

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

Lit. No. MF5CSRX-094-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-E \| CTHEX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2030 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529E. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-E | &nbsp;&nbsp;$32 0.64%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $4413 |
| Total number of portfolio holdings | 15 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529E](images_2036.jpg)

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

Important information

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

Lit. No. MF5ESRX-094-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-T \| TAFCX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2030 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-T | &nbsp;&nbsp;$8 0.16%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $4413 |
| Total number of portfolio holdings | 15 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds (Mutual Funds)](images_2052.jpg)

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

Important information

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

Lit. No. MF5TSRX-094-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-1 \| CTHFX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2030 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F1. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-1 | &nbsp;&nbsp;$10 0.20%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $4413 |
| Total number of portfolio holdings | 15 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F1](images_2035.jpg)

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

Important information

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

Lit. No. MF5FSRX-094-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-2 \| FDFCX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2030 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F2. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-2 | &nbsp;&nbsp;$7 0.14%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $4413 |
| Total number of portfolio holdings | 15 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F2](images_2034.jpg)

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

Important information

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

Lit. No. MF5XSRX-094-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-3 \| FTFCX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2030 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F3. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-3 | &nbsp;&nbsp;$4 0.07%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $4413 |
| Total number of portfolio holdings | 15 |
| Portfolio turnover rate | 0% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F3](images_2033.jpg)

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

Important information

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

Lit. No. MF5YSRX-094-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Funds College 2027 Fund <sup>®</sup>
**Class 529-A \| CSTAX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2027 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529A. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-A | &nbsp;&nbsp;$21 0.41%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3689 |
| Total number of portfolio holdings | 13 |
| Portfolio turnover rate | 4% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529A](images_2038.jpg)

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

Important information

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

Lit. No. MF5ASRX-093-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-C \| CTSCX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2027 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529C. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-C | &nbsp;&nbsp;$58 1.16%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3689 |
| Total number of portfolio holdings | 13 |
| Portfolio turnover rate | 4% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529C](images_2037.jpg)

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

Important information

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

Lit. No. MF5CSRX-093-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-E \| CTSEX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2027 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529E. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-E | &nbsp;&nbsp;$32 0.64%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3689 |
| Total number of portfolio holdings | 13 |
| Portfolio turnover rate | 4% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529E](images_2036.jpg)

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

Important information

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

Lit. No. MF5ESRX-093-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-T \| TAFAX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2027 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-T | &nbsp;&nbsp;$8 0.16%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3689 |
| Total number of portfolio holdings | 13 |
| Portfolio turnover rate | 4% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds (Mutual Funds)](images_2052.jpg)

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

Important information

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

Lit. No. MF5TSRX-093-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-1 \| CTSFX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2027 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F1. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-1 | &nbsp;&nbsp;$11 0.21%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3689 |
| Total number of portfolio holdings | 13 |
| Portfolio turnover rate | 4% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F1](images_2035.jpg)

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

Important information

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

Lit. No. MF5FSRX-093-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-2 \| FFCFX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2027 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F2. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-2 | &nbsp;&nbsp;$7 0.14%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3689 |
| Total number of portfolio holdings | 13 |
| Portfolio turnover rate | 4% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F2](images_2034.jpg)

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

Important information

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

Lit. No. MF5XSRX-093-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-3 \| FFCTX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College 2027 Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F3. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-3 | &nbsp;&nbsp;$4 0.08%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3689 |
| Total number of portfolio holdings | 13 |
| Portfolio turnover rate | 4% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F3](images_2033.jpg)

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

Important information

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

Lit. No. MF5YSRX-093-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Funds College Enrollment Fund <sup>®</sup>
**Class 529-A \| CENAX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College Enrollment Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529A. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-A | &nbsp;&nbsp;$19 0.38%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3760 |
| Total number of portfolio holdings | 6 |
| Portfolio turnover rate | 3% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529A](images_2038.jpg)

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

Important information

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

Lit. No. MF5ASRX-088-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-C \| CENCX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College Enrollment Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529C. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-C | &nbsp;&nbsp;$58 1.16%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3760 |
| Total number of portfolio holdings | 6 |
| Portfolio turnover rate | 3% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529C](images_2037.jpg)

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

Important information

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

Lit. No. MF5CSRX-088-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-E \| CENEX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College Enrollment Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529E. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-E | &nbsp;&nbsp;$32 0.63%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3760 |
| Total number of portfolio holdings | 6 |
| Portfolio turnover rate | 3% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529E](images_2036.jpg)

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

Important information

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

Lit. No. MF5ESRX-088-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-T \| TCADX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College Enrollment Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-T | &nbsp;&nbsp;$9 0.18%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3760 |
| Total number of portfolio holdings | 6 |
| Portfolio turnover rate | 3% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds (Mutual Funds)](images_2052.jpg)

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

Important information

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

Lit. No. MF5TSRX-088-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-1 \| CENFX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College Enrollment Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F1. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-1 | &nbsp;&nbsp;$11 0.22%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3760 |
| Total number of portfolio holdings | 6 |
| Portfolio turnover rate | 3% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F1](images_2035.jpg)

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

Important information

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

Lit. No. MF5FSRX-088-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-2 \| FAADX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College Enrollment Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F2. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-2 | &nbsp;&nbsp;$7 0.14%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3760 |
| Total number of portfolio holdings | 6 |
| Portfolio turnover rate | 3% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F2](images_2034.jpg)

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

Important information

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

Lit. No. MF5XSRX-088-0625© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2026.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

**Class 529-F-3 \| FTAOX** for the six months ended April 30, 2025

This semi-annual shareholder report contains important information about American Funds College Enrollment Fund (the "fund") for the period from November 1, 2024 to April 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F3. You can also request this information by contacting us at (800) 421-4225.

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-3 | &nbsp;&nbsp;$4 0.08%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $3760 |
| Total number of portfolio holdings | 6 |
| Portfolio turnover rate | 3% |

---

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

\*Less than 1%.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F3](images_2033.jpg)

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

Important information

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

Lit. No. MF5YSRX-088-0625© 2025 Capital Group. All rights reserved.

------

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

------

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

------

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

------

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

------

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

------

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

------

![](img5cb94db41.jpg)

**American Funds College Target Date Series**<sup>®</sup>

Financial Statements and Other Information N-CSR Items 7-11

for the six months ended April 30, 2025

Lit. No. MFGEFP2-800-0625© 2025 Capital Group. All rights reserved.

------

American Funds College 2042 Fundunaudited

**Investment portfolio** April 30, 2025

---

| | | |
|:---|:---|:---|
| Growth funds 50% | Shares | Value<br> (000)<br>|
| AMCAP Fund, Class R-6 | 743400 | $30888 |
| SMALLCAP World Fund, Inc., Class R-6 | 416701 | 27828 |
| New Perspective Fund, Class R-6 | 386762 | 24126 |
| The Growth Fund of America, Class R-6 | 334929 | 23820 |
| EuroPacific Growth Fund, Class R-6 | 278224 | 15778 |
| The New Economy Fund, Class R-6 | 215987 | 12689 |
| American Funds Global Insight Fund, Class R-6 | 154274 | 3701 |
|  |  | 138830 |
| Growth-and-income funds 41% |  |  |
| Fundamental Investors, Class R-6 | 456347 | 35841 |
| Capital World Growth and Income Fund, Class R-6 | 464441 | 29692 |
| The Investment Company of America, Class R-6 | 443580 | 24738 |
| Washington Mutual Investors Fund, Class R-6 | 223367 | 13608 |
| International Growth and Income Fund, Class R-6 | 249597 | 9906 |
|  |  | 113785 |
| Balanced funds 4% |  |  |
| American Balanced Fund, Class R-6 | 181322 | 6178 |
| American Funds Global Balanced Fund, Class R-6 | 165001 | 6177 |
|  |  | 12355 |
| Fixed income funds 5% |  |  |
| U.S. Government Securities Fund, Class R-6 | 588742 | 7124 |
| American High-Income Trust, Class R-6 | 640835 | 6178 |
|  |  | 13302 |
| **Total investment securities 100%** (cost: $286,909,000) |  | 278272 |
| Other assets less liabilities 0% |  | (57)<br>|
| **Net assets 100%** |  | $278215 |

---

---

| | |
|:---|:---|
| **1** | American Funds College Target Date Series |

---

------

American Funds College 2042 Fund (continued)

**Investments in affiliates**<sup>1</sup>

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>11/1/2024 <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>4/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth funds 50%** | **Growth funds 50%** | **Growth funds 50%** | **Growth funds 50%** | **Growth funds 50%** | **Growth funds 50%** | **Growth funds 50%** | **Growth funds 50%** | **Growth funds 50%** |
| AMCAP Fund, Class R-6 | $13395 | &nbsp;&nbsp; $19523 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(2030)<br>| &nbsp;&nbsp; $30888 | &nbsp;&nbsp; $107 | &nbsp;&nbsp; $949 |
| SMALLCAP World Fund, Inc., Class R-6 | 11853 | &nbsp;&nbsp; 17515 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (1540)<br>| &nbsp;&nbsp; 27828 | &nbsp;&nbsp; 153 | &nbsp;&nbsp; — |
| New Perspective Fund, Class R-6 | 10609 | &nbsp;&nbsp; 14085 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (568)<br>| &nbsp;&nbsp; 24126 | &nbsp;&nbsp; 124 | &nbsp;&nbsp; 612 |
| The Growth Fund of America, Class R-6 | 10253 | &nbsp;&nbsp; 15230 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (1663)<br>| &nbsp;&nbsp; 23820 | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 1056 |
| EuroPacific Growth Fund, Class R-6 | 7051 | &nbsp;&nbsp; 8757 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (30)<br>| &nbsp;&nbsp; 15778 | &nbsp;&nbsp; 102 | &nbsp;&nbsp; 302 |
| The New Economy Fund, Class R-6 | 5510 | &nbsp;&nbsp; 8269 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (1090)<br>| &nbsp;&nbsp; 12689 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 622 |
| American Funds Global Insight Fund, Class R-6 | 1242 | &nbsp;&nbsp; 2428 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 3701 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 138830 |  |  |
| **Growth-and-income funds 41%** | **Growth-and-income funds 41%** | **Growth-and-income funds 41%** | **Growth-and-income funds 41%** | **Growth-and-income funds 41%** | **Growth-and-income funds 41%** | **Growth-and-income funds 41%** | **Growth-and-income funds 41%** | **Growth-and-income funds 41%** |
| Fundamental Investors, Class R-6 | 16061 | &nbsp;&nbsp; 21975 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (2195)<br>| &nbsp;&nbsp; 35841 | &nbsp;&nbsp; 207 | &nbsp;&nbsp; 1405 |
| Capital World Growth and Income Fund, Class R-6 | 12979 | &nbsp;&nbsp; 17750 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (1037)<br>| &nbsp;&nbsp; 29692 | &nbsp;&nbsp; 205 | &nbsp;&nbsp; 984 |
| The Investment Company of America, Class R-6 | 10311 | &nbsp;&nbsp; 15942 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (1515)<br>| &nbsp;&nbsp; 24738 | &nbsp;&nbsp; 118 | &nbsp;&nbsp; 985 |
| Washington Mutual Investors Fund, Class R-6 | 5568 | &nbsp;&nbsp; 8510 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (470)<br>| &nbsp;&nbsp; 13608 | &nbsp;&nbsp; 82 | &nbsp;&nbsp; 301 |
| International Growth and Income Fund, Class R-6 | 4323 | &nbsp;&nbsp; 4989 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 594 | &nbsp;&nbsp; 9906 | &nbsp;&nbsp; 68 | &nbsp;&nbsp; 44 |
|  |  |  |  |  |  | &nbsp;&nbsp; 113785 |  |  |
| **Balanced funds 4%** | **Balanced funds 4%** | **Balanced funds 4%** | **Balanced funds 4%** | **Balanced funds 4%** | **Balanced funds 4%** | **Balanced funds 4%** | **Balanced funds 4%** | **Balanced funds 4%** |
| American Balanced Fund, Class R-6 | 2068 | &nbsp;&nbsp; 4315 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (205)<br>| &nbsp;&nbsp; 6178 | &nbsp;&nbsp; 52 | &nbsp;&nbsp; 131 |
| American Funds Global Balanced Fund, Class R-6 | 2074 | &nbsp;&nbsp; 4172 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (69)<br>| &nbsp;&nbsp; 6177 | &nbsp;&nbsp; 46 | &nbsp;&nbsp; 98 |
|  |  |  |  |  |  | &nbsp;&nbsp; 12355 |  |  |
| **Fixed income funds 5%** | **Fixed income funds 5%** | **Fixed income funds 5%** | **Fixed income funds 5%** | **Fixed income funds 5%** | **Fixed income funds 5%** | **Fixed income funds 5%** | **Fixed income funds 5%** | **Fixed income funds 5%** |
| U.S. Government Securities Fund, Class R-6 | 3173 | &nbsp;&nbsp; 3809 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 142 | &nbsp;&nbsp; 7124 | &nbsp;&nbsp; 119 | &nbsp;&nbsp; — |
| American High-Income Trust, Class R-6 | 2098 | &nbsp;&nbsp; 4172 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (92)<br>| &nbsp;&nbsp; 6178 | &nbsp;&nbsp; 139 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 13302 |  |  |
| **Total 100%** |  |  |  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(11737)<br>| &nbsp;&nbsp; $278272 | &nbsp;&nbsp; $1641 | &nbsp;&nbsp; $7489 |

---

<sup>1</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

Refer to the notes to financial statements.

American Funds College Target Date Series<sub>2</sub>

------

American Funds College 2039 Fundunaudited

**Investment portfolio** April 30, 2025

---

| | | |
|:---|:---|:---|
| Growth funds 39% | Shares | Value<br> (000)<br>|
| AMCAP Fund, Class R-6 | 2799497 | $116319 |
| SMALLCAP World Fund, Inc., Class R-6 | 1643584 | 109758 |
| The Growth Fund of America, Class R-6 | 1511970 | 107531 |
| New Perspective Fund, Class R-6 | 1382590 | 86246 |
| The New Economy Fund, Class R-6 | 831495 | 48850 |
| American Funds Global Insight Fund, Class R-6 | 1974518 | 47369 |
| EuroPacific Growth Fund, Class R-6 | 663915 | 37651 |
|  |  | 553724 |
| Growth-and-income funds 36% |  |  |
| The Investment Company of America, Class R-6 | 2424389 | 135208 |
| Capital World Growth and Income Fund, Class R-6 | 1990165 | 127231 |
| Fundamental Investors, Class R-6 | 1540154 | 120964 |
| Washington Mutual Investors Fund, Class R-6 | 1489911 | 90765 |
| International Growth and Income Fund, Class R-6 | 1141089 | 45290 |
|  |  | 519458 |
| Balanced funds 10% |  |  |
| American Balanced Fund, Class R-6 | 2240009 | 76317 |
| American Funds Global Balanced Fund, Class R-6 | 1730969 | 64808 |
|  |  | 141125 |
| Fixed income funds 15% |  |  |
| American High-Income Trust, Class R-6 | 8674092 | 83618 |
| The Bond Fund of America, Class R-6 | 5649517 | 64066 |
| American Funds Multi-Sector Income Fund, Class R-6 | 4684315 | 43424 |
| U.S. Government Securities Fund, Class R-6 | 1573101 | 19034 |
|  |  | 210142 |
| **Total investment securities 100%** (cost: $1,334,037,000) |  | 1424449 |
| Other assets less liabilities 0% |  | (269)<br>|
| **Net assets 100%** |  | $1424180 |

---

---

| | |
|:---|:---|
| **3** | American Funds College Target Date Series |

---

------

American Funds College 2039 Fund (continued)

**Investments in affiliates**<sup>1</sup>

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>11/1/2024 <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>4/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth funds 39%** | **Growth funds 39%** | **Growth funds 39%** | **Growth funds 39%** | **Growth funds 39%** | **Growth funds 39%** | **Growth funds 39%** | **Growth funds 39%** | **Growth funds 39%** |
| AMCAP Fund, Class R-6 | $107814 | &nbsp;&nbsp; $17031 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(8526)<br>| &nbsp;&nbsp; $116319 | &nbsp;&nbsp; $681 | &nbsp;&nbsp; $6061 |
| SMALLCAP World Fund, Inc., Class R-6 | 103081 | &nbsp;&nbsp; 13842 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (7165)<br>| &nbsp;&nbsp; 109758 | &nbsp;&nbsp; 1007 | &nbsp;&nbsp; — |
| The Growth Fund of America, Class R-6 | 94830 | &nbsp;&nbsp; 21075 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (8374)<br>| &nbsp;&nbsp; 107531 | &nbsp;&nbsp; 665 | &nbsp;&nbsp; 7801 |
| New Perspective Fund, Class R-6 | 77292 | &nbsp;&nbsp; 11409 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (2455)<br>| &nbsp;&nbsp; 86246 | &nbsp;&nbsp; 696 | &nbsp;&nbsp; 3437 |
| The New Economy Fund, Class R-6 | 45242 | &nbsp;&nbsp; 8876 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (5268)<br>| &nbsp;&nbsp; 48850 | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 4034 |
| American Funds Global Insight Fund, Class R-6 | 38548 | &nbsp;&nbsp; 8540 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 281 | &nbsp;&nbsp; 47369 | &nbsp;&nbsp; 516 | &nbsp;&nbsp; — |
| EuroPacific Growth Fund, Class R-6 | 36905 | &nbsp;&nbsp; 1536 | &nbsp;&nbsp; 96 | &nbsp;&nbsp; 12 | &nbsp;&nbsp; (706)<br>| &nbsp;&nbsp; 37651 | &nbsp;&nbsp; 387 | &nbsp;&nbsp; 1149 |
|  |  |  |  |  |  | &nbsp;&nbsp; 553724 |  |  |
| **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** |
| The Investment Company of America, Class R-6 | 118528 | &nbsp;&nbsp; 26883 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (10203)<br>| &nbsp;&nbsp; 135208 | &nbsp;&nbsp; 857 | &nbsp;&nbsp; 9065 |
| Capital World Growth and Income Fund, Class R-6 | 109713 | &nbsp;&nbsp; 23722 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (6204)<br>| &nbsp;&nbsp; 127231 | &nbsp;&nbsp; 1205 | &nbsp;&nbsp; 6679 |
| Fundamental Investors, Class R-6 | 106928 | &nbsp;&nbsp; 23037 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (9001)<br>| &nbsp;&nbsp; 120964 | &nbsp;&nbsp; 951 | &nbsp;&nbsp; 7403 |
| Washington Mutual Investors Fund, Class R-6 | 77070 | &nbsp;&nbsp; 17462 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (3767)<br>| &nbsp;&nbsp; 90765 | &nbsp;&nbsp; 745 | &nbsp;&nbsp; 3290 |
| International Growth and Income Fund, Class R-6 | 35804 | &nbsp;&nbsp; 6847 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2639 | &nbsp;&nbsp; 45290 | &nbsp;&nbsp; 389 | &nbsp;&nbsp; 287 |
|  |  |  |  |  |  | &nbsp;&nbsp; 519458 |  |  |
| **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** |
| American Balanced Fund, Class R-6 | 64226 | &nbsp;&nbsp; 16069 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (3978)<br>| &nbsp;&nbsp; 76317 | &nbsp;&nbsp; 1101 | &nbsp;&nbsp; 3347 |
| American Funds Global Balanced Fund, Class R-6 | 56558 | &nbsp;&nbsp; 10317 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (2067)<br>| &nbsp;&nbsp; 64808 | &nbsp;&nbsp; 696 | &nbsp;&nbsp; 2104 |
|  |  |  |  |  |  | &nbsp;&nbsp; 141125 |  |  |
| **Fixed income funds 15%** | **Fixed income funds 15%** | **Fixed income funds 15%** | **Fixed income funds 15%** | **Fixed income funds 15%** | **Fixed income funds 15%** | **Fixed income funds 15%** | **Fixed income funds 15%** | **Fixed income funds 15%** |
| American High-Income Trust, Class R-6 | 69673 | &nbsp;&nbsp; 15374 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (1429)<br>| &nbsp;&nbsp; 83618 | &nbsp;&nbsp; 2608 | &nbsp;&nbsp; — |
| The Bond Fund of America, Class R-6 | 41946 | &nbsp;&nbsp; 21538 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 582 | &nbsp;&nbsp; 64066 | &nbsp;&nbsp; 1262 | &nbsp;&nbsp; — |
| American Funds Multi-Sector Income Fund, Class R-6 | 28822 | &nbsp;&nbsp; 15223 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (621)<br>| &nbsp;&nbsp; 43424 | &nbsp;&nbsp; 1235 | &nbsp;&nbsp; — |
| U.S. Government Securities Fund, Class R-6 | 18823 | &nbsp;&nbsp; 423 | &nbsp;&nbsp; 540 | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 310 | &nbsp;&nbsp; 19034 | &nbsp;&nbsp; 423 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 210142 |  |  |
| **Total 100%** |  |  |  | &nbsp;&nbsp; $30 | &nbsp;&nbsp; $(65952)<br>| &nbsp;&nbsp; $1424449 | &nbsp;&nbsp; $15485 | &nbsp;&nbsp; $54657 |

---

<sup>1</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

Refer to the notes to financial statements.

American Funds College Target Date Series<sub>4</sub>

------

American Funds College 2036 Fundunaudited

**Investment portfolio** April 30, 2025

---

| | | |
|:---|:---|:---|
| Growth funds 20% | Shares | Value<br> (000)<br>|
| The Growth Fund of America, Class R-6 | 1678175 | $119352 |
| AMCAP Fund, Class R-6 | 2848611 | 118360 |
| New Perspective Fund, Class R-6 | 1712920 | 106852 |
| American Funds Global Insight Fund, Class R-6 | 3793647 | 91009 |
| SMALLCAP World Fund, Inc., Class R-6 | 1247559 | 83312 |
| The New Economy Fund, Class R-6 | 855798 | 50278 |
|  |  | 569163 |
| Growth-and-income funds 36% |  |  |
| Capital World Growth and Income Fund, Class R-6 | 3788485 | 242198 |
| The Investment Company of America, Class R-6 | 4116909 | 229600 |
| Washington Mutual Investors Fund, Class R-6 | 3403848 | 207362 |
| Fundamental Investors, Class R-6 | 2229305 | 175090 |
| American Mutual Fund, Class R-6 | 1975242 | 108856 |
| International Growth and Income Fund, Class R-6 | 2011320 | 79829 |
|  |  | 1042935 |
| Equity-income funds 3% |  |  |
| Capital Income Builder, Class R-6 | 640155 | 46251 |
| The Income Fund of America, Class R-6 | 1320550 | 33437 |
|  |  | 79688 |
| Balanced funds 10% |  |  |
| American Balanced Fund, Class R-6 | 5105953 | 173960 |
| American Funds Global Balanced Fund, Class R-6 | 2722687 | 101937 |
|  |  | 275897 |
| Fixed income funds 31% |  |  |
| The Bond Fund of America, Class R-6 | 31585516 | 358180 |
| American Funds Multi-Sector Income Fund, Class R-6 | 21522052 | 199509 |
| American High-Income Trust, Class R-6 | 20547655 | 198079 |
| American Funds Strategic Bond Fund, Class R-6 | 6644194 | 62190 |
| American Funds Mortgage Fund, Class R-6 | 7017476 | 62105 |
|  |  | 880063 |
| **Total investment securities 100%** (cost: $2,721,265,000) |  | 2847746 |
| Other assets less liabilities 0% |  | (622)<br>|
| **Net assets 100%** |  | $2847124 |

---

---

| | |
|:---|:---|
| **5** | American Funds College Target Date Series |

---

------

American Funds College 2036 Fund (continued)

**Investments in affiliates**<sup>1</sup>

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>11/1/2024 <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>4/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth funds 20%** | **Growth funds 20%** | **Growth funds 20%** | **Growth funds 20%** | **Growth funds 20%** | **Growth funds 20%** | **Growth funds 20%** | **Growth funds 20%** | **Growth funds 20%** |
| The Growth Fund of America, Class R-6 | $119846 | &nbsp;&nbsp; $10699 | &nbsp;&nbsp; $731 | &nbsp;&nbsp; $207 | &nbsp;&nbsp; $(10669)<br>| &nbsp;&nbsp; $119352 | &nbsp;&nbsp; $840 | &nbsp;&nbsp; $9859 |
| AMCAP Fund, Class R-6 | 120370 | &nbsp;&nbsp; 7528 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (9538)<br>| &nbsp;&nbsp; 118360 | &nbsp;&nbsp; 760 | &nbsp;&nbsp; 6767 |
| New Perspective Fund, Class R-6 | 102521 | &nbsp;&nbsp; 7675 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (3344)<br>| &nbsp;&nbsp; 106852 | &nbsp;&nbsp; 912 | &nbsp;&nbsp; 4503 |
| American Funds Global Insight Fund, Class R-6 | 85577 | &nbsp;&nbsp; 4690 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 742 | &nbsp;&nbsp; 91009 | &nbsp;&nbsp; 1081 | &nbsp;&nbsp; — |
| SMALLCAP World Fund, Inc., Class R-6 | 85175 | &nbsp;&nbsp; 3890 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (5753)<br>| &nbsp;&nbsp; 83312 | &nbsp;&nbsp; 808 | &nbsp;&nbsp; — |
| The New Economy Fund, Class R-6 | 51508 | &nbsp;&nbsp; 4662 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (5892)<br>| &nbsp;&nbsp; 50278 | &nbsp;&nbsp; 69 | &nbsp;&nbsp; 4593 |
|  |  |  |  |  |  | &nbsp;&nbsp; 569163 |  |  |
| **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** | **Growth-and-income funds 36%** |
| Capital World Growth and Income Fund, Class R-6 | 226459 | &nbsp;&nbsp; 27684 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (11945)<br>| &nbsp;&nbsp; 242198 | &nbsp;&nbsp; 2372 | &nbsp;&nbsp; 13358 |
| The Investment Company of America, Class R-6 | 218368 | &nbsp;&nbsp; 28633 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (17401)<br>| &nbsp;&nbsp; 229600 | &nbsp;&nbsp; 1509 | &nbsp;&nbsp; 16329 |
| Washington Mutual Investors Fund, Class R-6 | 192515 | &nbsp;&nbsp; 23301 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (8454)<br>| &nbsp;&nbsp; 207362 | &nbsp;&nbsp; 1747 | &nbsp;&nbsp; 7913 |
| Fundamental Investors, Class R-6 | 173774 | &nbsp;&nbsp; 15213 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (13897)<br>| &nbsp;&nbsp; 175090 | &nbsp;&nbsp; 1491 | &nbsp;&nbsp; 11788 |
| American Mutual Fund, Class R-6 | 82642 | &nbsp;&nbsp; 31997 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (5783)<br>| &nbsp;&nbsp; 108856 | &nbsp;&nbsp; 982 | &nbsp;&nbsp; 3638 |
| International Growth and Income Fund, Class R-6 | 68565 | &nbsp;&nbsp; 6687 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 4577 | &nbsp;&nbsp; 79829 | &nbsp;&nbsp; 699 | &nbsp;&nbsp; 525 |
|  |  |  |  |  |  | &nbsp;&nbsp; 1042935 |  |  |
| **Equity-income funds 3%** | **Equity-income funds 3%** | **Equity-income funds 3%** | **Equity-income funds 3%** | **Equity-income funds 3%** | **Equity-income funds 3%** | **Equity-income funds 3%** | **Equity-income funds 3%** | **Equity-income funds 3%** |
| Capital Income Builder, Class R-6 | 36854 | &nbsp;&nbsp; 9286 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 111 | &nbsp;&nbsp; 46251 | &nbsp;&nbsp; 841 | &nbsp;&nbsp; 870 |
| The Income Fund of America, Class R-6 | 27657 | &nbsp;&nbsp; 6185 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (405)<br>| &nbsp;&nbsp; 33437 | &nbsp;&nbsp; 778 | &nbsp;&nbsp; 609 |
|  |  |  |  |  |  | &nbsp;&nbsp; 79688 |  |  |
| **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** | **Balanced funds 10%** |
| American Balanced Fund, Class R-6 | 166920 | &nbsp;&nbsp; 16194 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (9154)<br>| &nbsp;&nbsp; 173960 | &nbsp;&nbsp; 2663 | &nbsp;&nbsp; 8255 |
| American Funds Global Balanced Fund, Class R-6 | 96219 | &nbsp;&nbsp; 8971 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (3253)<br>| &nbsp;&nbsp; 101937 | &nbsp;&nbsp; 1109 | &nbsp;&nbsp; 3397 |
|  |  |  |  |  |  | &nbsp;&nbsp; 275897 |  |  |
| **Fixed income funds 31%** | **Fixed income funds 31%** | **Fixed income funds 31%** | **Fixed income funds 31%** | **Fixed income funds 31%** | **Fixed income funds 31%** | **Fixed income funds 31%** | **Fixed income funds 31%** | **Fixed income funds 31%** |
| The Bond Fund of America, Class R-6 | 313353 | &nbsp;&nbsp; 42617 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2210 | &nbsp;&nbsp; 358180 | &nbsp;&nbsp; 7682 | &nbsp;&nbsp; — |
| American Funds Multi-Sector Income Fund, Class R-6 | 186775 | &nbsp;&nbsp; 15944 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (3210)<br>| &nbsp;&nbsp; 199509 | &nbsp;&nbsp; 6324 | &nbsp;&nbsp; — |
| American High-Income Trust, Class R-6 | 187050 | &nbsp;&nbsp; 14340 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (3311)<br>| &nbsp;&nbsp; 198079 | &nbsp;&nbsp; 6416 | &nbsp;&nbsp; — |
| American Funds Strategic Bond Fund, Class R-6<sup>2</sup> <br>| 46379 | &nbsp;&nbsp; 14457 | &nbsp;&nbsp; 538 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1892 | &nbsp;&nbsp; 62190 | &nbsp;&nbsp; 469 | &nbsp;&nbsp; — |
| American Funds Mortgage Fund, Class R-6 | 46415 | &nbsp;&nbsp; 14550 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1140 | &nbsp;&nbsp; 62105 | &nbsp;&nbsp; 1294 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 880063 |  |  |
| **Total 100%** |  |  |  | &nbsp;&nbsp; $207 | &nbsp;&nbsp; $(101337)<br>| &nbsp;&nbsp; $2847746 | &nbsp;&nbsp; $40846 | &nbsp;&nbsp; $92404 |

---

<sup>1</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>2</sup> A portion of the fund's income dividends and/or capital gains distribution was deemed a return of capital for tax purposes. The net realized gain and/or dividend income amounts reflect the return of capital distribution. 

Refer to the notes to financial statements.

American Funds College Target Date Series<sub>6</sub>

------

American Funds College 2033 Fund<sup>®</sup> unaudited

**Investment portfolio** April 30, 2025

---

| | | |
|:---|:---|:---|
| Growth funds 3% | Shares | Value<br> (000)<br>|
| American Funds Global Insight Fund, Class R-6 | 1678443 | $40266 |
| New Perspective Fund, Class R-6 | 631354 | 39384 |
| AMCAP Fund, Class R-6 | 920011 | 38226 |
|  |  | 117876 |
| Growth-and-income funds 31% |  |  |
| American Mutual Fund, Class R-6 | 6223410 | 342972 |
| Washington Mutual Investors Fund, Class R-6 | 4491873 | 273645 |
| Capital World Growth and Income Fund, Class R-6 | 3544131 | 226576 |
| The Investment Company of America, Class R-6 | 3106721 | 173262 |
| Fundamental Investors, Class R-6 | 1001613 | 78667 |
| International Growth and Income Fund, Class R-6 | 1098477 | 43598 |
|  |  | 1138720 |
| Equity-income funds 11% |  |  |
| The Income Fund of America, Class R-6 | 8084038 | 204688 |
| Capital Income Builder, Class R-6 | 2494340 | 180216 |
|  |  | 384904 |
| Balanced funds 9% |  |  |
| American Balanced Fund, Class R-6 | 7404583 | 252274 |
| American Funds Global Balanced Fund, Class R-6 | 2440500 | 91373 |
|  |  | 343647 |
| Fixed income funds 46% |  |  |
| The Bond Fund of America, Class R-6 | 47716707 | 541108 |
| American Funds Strategic Bond Fund, Class R-6 | 28808041 | 269643 |
| American Funds Mortgage Fund, Class R-6 | 30416390 | 269185 |
| American Funds Multi-Sector Income Fund, Class R-6 | 27362621 | 253652 |
| American High-Income Trust, Class R-6 | 26123756 | 251833 |
| Intermediate Bond Fund of America, Class R-6 | 6320341 | 80205 |
|  |  | 1665626 |
| **Total investment securities 100%** (cost: $3,549,455,000) |  | 3650773 |
| Other assets less liabilities 0% |  | (788)<br>|
| **Net assets 100%** |  | $3649985 |

---

---

| | |
|:---|:---|
| **7** | American Funds College Target Date Series |

---

------

American Funds College 2033 Fund<sup>®</sup> (continued)

**Investments in affiliates**<sup>1</sup>

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>11/1/2024 <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>4/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth funds 3%** | **Growth funds 3%** | **Growth funds 3%** | **Growth funds 3%** | **Growth funds 3%** | **Growth funds 3%** | **Growth funds 3%** | **Growth funds 3%** | **Growth funds 3%** |
| American Funds Global Insight Fund, Class R-6 | $53547 | &nbsp;&nbsp; $725 | &nbsp;&nbsp; $14153 | &nbsp;&nbsp; $1263 | &nbsp;&nbsp; $(1116)<br>| &nbsp;&nbsp; $40266 | &nbsp;&nbsp; $670 | &nbsp;&nbsp; $— |
| New Perspective Fund, Class R-6 | 54484 | &nbsp;&nbsp; 2949 | &nbsp;&nbsp; 16342 | &nbsp;&nbsp; (1045)<br>| &nbsp;&nbsp; (662)<br>| &nbsp;&nbsp; 39384 | &nbsp;&nbsp; 482 | &nbsp;&nbsp; 2382 |
| AMCAP Fund, Class R-6 | 55146 | &nbsp;&nbsp; 4531 | &nbsp;&nbsp; 18102 | &nbsp;&nbsp; 3210 | &nbsp;&nbsp; (6559)<br>| &nbsp;&nbsp; 38226 | &nbsp;&nbsp; 348 | &nbsp;&nbsp; 3100 |
|  |  |  |  |  |  | &nbsp;&nbsp; 117876 |  |  |
| **Growth-and-income funds 31%** | **Growth-and-income funds 31%** | **Growth-and-income funds 31%** | **Growth-and-income funds 31%** | **Growth-and-income funds 31%** | **Growth-and-income funds 31%** | **Growth-and-income funds 31%** | **Growth-and-income funds 31%** | **Growth-and-income funds 31%** |
| American Mutual Fund, Class R-6 | 314000 | &nbsp;&nbsp; 47549 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (18577)<br>| &nbsp;&nbsp; 342972 | &nbsp;&nbsp; 3458 | &nbsp;&nbsp; 13411 |
| Washington Mutual Investors Fund, Class R-6 | 265926 | &nbsp;&nbsp; 25271 | &nbsp;&nbsp; 6194 | &nbsp;&nbsp; 1581 | &nbsp;&nbsp; (12939)<br>| &nbsp;&nbsp; 273645 | &nbsp;&nbsp; 2345 | &nbsp;&nbsp; 10671 |
| Capital World Growth and Income Fund, Class R-6 | 238340 | &nbsp;&nbsp; 23812 | &nbsp;&nbsp; 23013 | &nbsp;&nbsp; 5354 | &nbsp;&nbsp; (17917)<br>| &nbsp;&nbsp; 226576 | &nbsp;&nbsp; 2349 | &nbsp;&nbsp; 13783 |
| The Investment Company of America, Class R-6 | 206051 | &nbsp;&nbsp; 28322 | &nbsp;&nbsp; 46098 | &nbsp;&nbsp; 14403 | &nbsp;&nbsp; (29416)<br>| &nbsp;&nbsp; 173262 | &nbsp;&nbsp; 1282 | &nbsp;&nbsp; 15353 |
| Fundamental Investors, Class R-6 | 111717 | &nbsp;&nbsp; 11520 | &nbsp;&nbsp; 37063 | &nbsp;&nbsp; 2280 | &nbsp;&nbsp; (9787)<br>| &nbsp;&nbsp; 78667 | &nbsp;&nbsp; 854 | &nbsp;&nbsp; 7566 |
| International Growth and Income Fund, Class R-6 | 51226 | &nbsp;&nbsp; 919 | &nbsp;&nbsp; 10616 | &nbsp;&nbsp; 598 | &nbsp;&nbsp; 1471 | &nbsp;&nbsp; 43598 | &nbsp;&nbsp; 436 | &nbsp;&nbsp; 368 |
|  |  |  |  |  |  | &nbsp;&nbsp; 1138720 |  |  |
| **Equity-income funds 11%** | **Equity-income funds 11%** | **Equity-income funds 11%** | **Equity-income funds 11%** | **Equity-income funds 11%** | **Equity-income funds 11%** | **Equity-income funds 11%** | **Equity-income funds 11%** | **Equity-income funds 11%** |
| The Income Fund of America, Class R-6 | 150427 | &nbsp;&nbsp; 54874 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (613)<br>| &nbsp;&nbsp; 204688 | &nbsp;&nbsp; 4501 | &nbsp;&nbsp; 3264 |
| Capital Income Builder, Class R-6 | 146746 | &nbsp;&nbsp; 32278 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1192 | &nbsp;&nbsp; 180216 | &nbsp;&nbsp; 3361 | &nbsp;&nbsp; 3363 |
|  |  |  |  |  |  | &nbsp;&nbsp; 384904 |  |  |
| **Balanced funds 9%** | **Balanced funds 9%** | **Balanced funds 9%** | **Balanced funds 9%** | **Balanced funds 9%** | **Balanced funds 9%** | **Balanced funds 9%** | **Balanced funds 9%** | **Balanced funds 9%** |
| American Balanced Fund, Class R-6 | 233844 | &nbsp;&nbsp; 31184 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (12754)<br>| &nbsp;&nbsp; 252274 | &nbsp;&nbsp; 3705 | &nbsp;&nbsp; 11383 |
| American Funds Global Balanced Fund, Class R-6 | 91838 | &nbsp;&nbsp; 4205 | &nbsp;&nbsp; 1608 | &nbsp;&nbsp; 168 | &nbsp;&nbsp; (3230)<br>| &nbsp;&nbsp; 91373 | &nbsp;&nbsp; 1009 | &nbsp;&nbsp; 3139 |
|  |  |  |  |  |  | &nbsp;&nbsp; 343647 |  |  |
| **Fixed income funds 46%** | **Fixed income funds 46%** | **Fixed income funds 46%** | **Fixed income funds 46%** | **Fixed income funds 46%** | **Fixed income funds 46%** | **Fixed income funds 46%** | **Fixed income funds 46%** | **Fixed income funds 46%** |
| The Bond Fund of America, Class R-6 | 488329 | &nbsp;&nbsp; 49912 | &nbsp;&nbsp; 319 | &nbsp;&nbsp; 18 | &nbsp;&nbsp; 3168 | &nbsp;&nbsp; 541108 | &nbsp;&nbsp; 11742 | &nbsp;&nbsp; — |
| American Funds Strategic Bond Fund, Class R-6<sup>2</sup> <br>| 214296 | &nbsp;&nbsp; 50004 | &nbsp;&nbsp; 4125 | &nbsp;&nbsp; 14 | &nbsp;&nbsp; 9454 | &nbsp;&nbsp; 269643 | &nbsp;&nbsp; 643 | &nbsp;&nbsp; — |
| American Funds Mortgage Fund, Class R-6 | 214841 | &nbsp;&nbsp; 49595 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 4749 | &nbsp;&nbsp; 269185 | &nbsp;&nbsp; 5807 | &nbsp;&nbsp; — |
| American Funds Multi-Sector Income Fund, Class R-6 | 232694 | &nbsp;&nbsp; 24918 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (3960)<br>| &nbsp;&nbsp; 253652 | &nbsp;&nbsp; 7936 | &nbsp;&nbsp; — |
| American High-Income Trust, Class R-6 | 235825 | &nbsp;&nbsp; 20182 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (4174)<br>| &nbsp;&nbsp; 251833 | &nbsp;&nbsp; 8086 | &nbsp;&nbsp; — |
| Intermediate Bond Fund of America, Class R-6 | 43680 | &nbsp;&nbsp; 35001 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1524 | &nbsp;&nbsp; 80205 | &nbsp;&nbsp; 1465 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 1665626 |  |  |
| **Total 100%** |  |  |  | &nbsp;&nbsp; $27844 | &nbsp;&nbsp; $(100146)<br>| &nbsp;&nbsp; $3650773 | &nbsp;&nbsp; $60479 | &nbsp;&nbsp; $87783 |

---

<sup>1</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>2</sup> A portion of the fund's income dividends and/or capital gains distribution was deemed a return of capital for tax purposes. The net realized gain and/or dividend income amounts reflect the return of capital distribution. 

Refer to the notes to financial statements.

American Funds College Target Date Series<sub>8</sub>

------

American Funds College 2030 Fund<sup>®</sup> unaudited

**Investment portfolio** April 30, 2025

---

| | | |
|:---|:---|:---|
| Growth-and-income funds 19% | Shares | Value<br> (000)<br>|
| American Mutual Fund, Class R-6 | 7807982 | $430298 |
| Washington Mutual Investors Fund, Class R-6 | 3569168 | 217434 |
| Capital World Growth and Income Fund, Class R-6 | 2165654 | 138450 |
| The Investment Company of America, Class R-6 | 967071 | 53934 |
|  |  | 840116 |
| Equity-income funds 12% |  |  |
| The Income Fund of America, Class R-6 | 13114406 | 332057 |
| Capital Income Builder, Class R-6 | 2800649 | 202347 |
|  |  | 534404 |
| Balanced funds 8% |  |  |
| American Balanced Fund, Class R-6 | 8657251 | 294952 |
| American Funds Global Balanced Fund, Class R-6 | 1443474 | 54044 |
|  |  | 348996 |
| Fixed income funds 61% |  |  |
| The Bond Fund of America, Class R-6 | 49664494 | 563195 |
| American Funds Mortgage Fund, Class R-6 | 60102889 | 531910 |
| American Funds Strategic Bond Fund, Class R-6 | 47238122 | 442149 |
| Intermediate Bond Fund of America, Class R-6 | 33811093 | 429063 |
| American High-Income Trust, Class R-6 | 27812947 | 268117 |
| American Funds Multi-Sector Income Fund, Class R-6 | 28869790 | 267623 |
| Short-Term Bond Fund of America, Class R-6 | 19573836 | 188496 |
|  |  | 2690553 |
| **Total investment securities 100%** (cost: $4,435,856,000) |  | 4414069 |
| Other assets less liabilities 0% |  | (977)<br>|
| **Net assets 100%** |  | $4413092 |

---

---

| | |
|:---|:---|
| **9** | American Funds College Target Date Series |

---

------

American Funds College 2030 Fund<sup>®</sup> (continued)

**Investments in affiliates**<sup>1</sup>

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>11/1/2024 <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>4/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth-and-income funds 19%** | **Growth-and-income funds 19%** | **Growth-and-income funds 19%** | **Growth-and-income funds 19%** | **Growth-and-income funds 19%** | **Growth-and-income funds 19%** | **Growth-and-income funds 19%** | **Growth-and-income funds 19%** | **Growth-and-income funds 19%** |
| American Mutual Fund, Class R-6 | $413949 | &nbsp;&nbsp; $40914 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(24565)<br>| &nbsp;&nbsp; $430298 | &nbsp;&nbsp; $4496 | &nbsp;&nbsp; $17763 |
| Washington Mutual Investors Fund, Class R-6 | 216702 | &nbsp;&nbsp; 11447 | &nbsp;&nbsp; 1355 | &nbsp;&nbsp; 298 | &nbsp;&nbsp; (9658)<br>| &nbsp;&nbsp; 217434 | &nbsp;&nbsp; 1919 | &nbsp;&nbsp; 8728 |
| Capital World Growth and Income Fund, Class R-6 | 135728 | &nbsp;&nbsp; 9951 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (7229)<br>| &nbsp;&nbsp; 138450 | &nbsp;&nbsp; 1390 | &nbsp;&nbsp; 7860 |
| The Investment Company of America, Class R-6 | 53907 | &nbsp;&nbsp; 4396 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (4369)<br>| &nbsp;&nbsp; 53934 | &nbsp;&nbsp; 372 | &nbsp;&nbsp; 4024 |
|  |  |  |  |  |  | &nbsp;&nbsp; 840116 |  |  |
| **Equity-income funds 12%** | **Equity-income funds 12%** | **Equity-income funds 12%** | **Equity-income funds 12%** | **Equity-income funds 12%** | **Equity-income funds 12%** | **Equity-income funds 12%** | **Equity-income funds 12%** | **Equity-income funds 12%** |
| The Income Fund of America, Class R-6 | 315342 | &nbsp;&nbsp; 21325 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (4610)<br>| &nbsp;&nbsp; 332057 | &nbsp;&nbsp; 8757 | &nbsp;&nbsp; 6887 |
| Capital Income Builder, Class R-6 | 189988 | &nbsp;&nbsp; 12686 | &nbsp;&nbsp; 391 | &nbsp;&nbsp; 41 | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 202347 | &nbsp;&nbsp; 4180 | &nbsp;&nbsp; 4432 |
|  |  |  |  |  |  | &nbsp;&nbsp; 534404 |  |  |
| **Balanced funds 8%** | **Balanced funds 8%** | **Balanced funds 8%** | **Balanced funds 8%** | **Balanced funds 8%** | **Balanced funds 8%** | **Balanced funds 8%** | **Balanced funds 8%** | **Balanced funds 8%** |
| American Balanced Fund, Class R-6 | 289365 | &nbsp;&nbsp; 21064 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (15477)<br>| &nbsp;&nbsp; 294952 | &nbsp;&nbsp; 4544 | &nbsp;&nbsp; 14099 |
| American Funds Global Balanced Fund, Class R-6 | 53207 | &nbsp;&nbsp; 2603 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (1766)<br>| &nbsp;&nbsp; 54044 | &nbsp;&nbsp; 592 | &nbsp;&nbsp; 1825 |
|  |  |  |  |  |  | &nbsp;&nbsp; 348996 |  |  |
| **Fixed income funds 61%** | **Fixed income funds 61%** | **Fixed income funds 61%** | **Fixed income funds 61%** | **Fixed income funds 61%** | **Fixed income funds 61%** | **Fixed income funds 61%** | **Fixed income funds 61%** | **Fixed income funds 61%** |
| The Bond Fund of America, Class R-6 | 539401 | &nbsp;&nbsp; 20756 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 3038 | &nbsp;&nbsp; 563195 | &nbsp;&nbsp; 12473 | &nbsp;&nbsp; — |
| American Funds Mortgage Fund, Class R-6 | 489239 | &nbsp;&nbsp; 34265 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 8406 | &nbsp;&nbsp; 531910 | &nbsp;&nbsp; 11867 | &nbsp;&nbsp; — |
| American Funds Strategic Bond Fund, Class R-6<sup>2</sup> <br>| 415194 | &nbsp;&nbsp; 19183 | &nbsp;&nbsp; 7937 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15709 | &nbsp;&nbsp; 442149 | &nbsp;&nbsp; (96)<br>| &nbsp;&nbsp; — |
| Intermediate Bond Fund of America, Class R-6 | 368332 | &nbsp;&nbsp; 53641 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 7090 | &nbsp;&nbsp; 429063 | &nbsp;&nbsp; 8567 | &nbsp;&nbsp; — |
| American High-Income Trust, Class R-6 | 263749 | &nbsp;&nbsp; 8797 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (4429)<br>| &nbsp;&nbsp; 268117 | &nbsp;&nbsp; 8797 | &nbsp;&nbsp; — |
| American Funds Multi-Sector Income Fund, Class R-6 | 262221 | &nbsp;&nbsp; 9703 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (4301)<br>| &nbsp;&nbsp; 267623 | &nbsp;&nbsp; 8606 | &nbsp;&nbsp; — |
| Short-Term Bond Fund of America, Class R-6 | 146238 | &nbsp;&nbsp; 40594 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1664 | &nbsp;&nbsp; 188496 | &nbsp;&nbsp; 3516 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 2690553 |  |  |
| **Total 100%** |  |  |  | &nbsp;&nbsp; $339 | &nbsp;&nbsp; $(40474)<br>| &nbsp;&nbsp; $4414069 | &nbsp;&nbsp; $79980 | &nbsp;&nbsp; $65618 |

---

<sup>1</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>2</sup> A portion of the fund's income dividends and/or capital gains distribution was deemed a return of capital for tax purposes. The net realized gain and/or dividend income amounts reflect the return of capital distribution. 

Refer to the notes to financial statements.

American Funds College Target Date Series<sub>10</sub>

------

American Funds College 2027 Fund<sup>®</sup> unaudited

**Investment portfolio** April 30, 2025

---

| | | |
|:---|:---|:---|
| Growth-and-income funds 12% | Shares | Value<br> (000)<br>|
| American Mutual Fund, Class R-6 | 6421150 | $353870 |
| Capital World Growth and Income Fund, Class R-6 | 636470 | 40689 |
| Washington Mutual Investors Fund, Class R-6 | 664515 | 40482 |
|  |  | 435041 |
| Equity-income funds 4% |  |  |
| The Income Fund of America, Class R-6 | 4033574 | 102130 |
| Capital Income Builder, Class R-6 | 570878 | 41246 |
|  |  | 143376 |
| Balanced funds 6% |  |  |
| American Balanced Fund, Class R-6 | 6612304 | 225281 |
| Fixed income funds 78% |  |  |
| Short-Term Bond Fund of America, Class R-6 | 97070257 | 934787 |
| Intermediate Bond Fund of America, Class R-6 | 59487380 | 754895 |
| American Funds Mortgage Fund, Class R-6 | 53718557 | 475409 |
| American Funds Strategic Bond Fund, Class R-6 | 31014435 | 290295 |
| The Bond Fund of America, Class R-6 | 20080624 | 227714 |
| American Funds Multi-Sector Income Fund, Class R-6 | 10953500 | 101539 |
| American High-Income Trust, Class R-6 | 10485944 | 101085 |
|  |  | 2885724 |
| **Total investment securities 100%** (cost: $3,796,446,000) |  | 3689422 |
| Other assets less liabilities 0% |  | (804)<br>|
| **Net assets 100%** |  | $3688618 |

---

---

| | |
|:---|:---|
| **11** | American Funds College Target Date Series |

---

------

American Funds College 2027 Fund<sup>®</sup> (continued)

**Investments in affiliates**<sup>1</sup>

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>11/1/2024 <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>4/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth-and-income funds 12%** | **Growth-and-income funds 12%** | **Growth-and-income funds 12%** | **Growth-and-income funds 12%** | **Growth-and-income funds 12%** | **Growth-and-income funds 12%** | **Growth-and-income funds 12%** | **Growth-and-income funds 12%** | **Growth-and-income funds 12%** |
| American Mutual Fund, Class R-6 | $336451 | &nbsp;&nbsp; $50507 | &nbsp;&nbsp; $13472 | &nbsp;&nbsp; $3510 | &nbsp;&nbsp; $(23126)<br>| &nbsp;&nbsp; $353870 | &nbsp;&nbsp; $3643 | &nbsp;&nbsp; $14432 |
| Capital World Growth and Income Fund, Class R-6 | 44641 | &nbsp;&nbsp; 5078 | &nbsp;&nbsp; 6876 | &nbsp;&nbsp; 113 | &nbsp;&nbsp; (2267)<br>| &nbsp;&nbsp; 40689 | &nbsp;&nbsp; 435 | &nbsp;&nbsp; 2608 |
| Washington Mutual Investors Fund, Class R-6 | 45032 | &nbsp;&nbsp; 4497 | &nbsp;&nbsp; 7449 | &nbsp;&nbsp; 962 | &nbsp;&nbsp; (2560)<br>| &nbsp;&nbsp; 40482 | &nbsp;&nbsp; 372 | &nbsp;&nbsp; 1818 |
|  |  |  |  |  |  | &nbsp;&nbsp; 435041 |  |  |
| **Equity-income funds 4%** | **Equity-income funds 4%** | **Equity-income funds 4%** | **Equity-income funds 4%** | **Equity-income funds 4%** | **Equity-income funds 4%** | **Equity-income funds 4%** | **Equity-income funds 4%** | **Equity-income funds 4%** |
| The Income Fund of America, Class R-6 | 113104 | &nbsp;&nbsp; 7857 | &nbsp;&nbsp; 17046 | &nbsp;&nbsp; 1201 | &nbsp;&nbsp; (2986)<br>| &nbsp;&nbsp; 102130 | &nbsp;&nbsp; 3003 | &nbsp;&nbsp; 2462 |
| Capital Income Builder, Class R-6 | 45086 | &nbsp;&nbsp; 2561 | &nbsp;&nbsp; 6374 | &nbsp;&nbsp; 271 | &nbsp;&nbsp; (298)<br>| &nbsp;&nbsp; 41246 | &nbsp;&nbsp; 934 | &nbsp;&nbsp; 1037 |
|  |  |  |  |  |  | &nbsp;&nbsp; 143376 |  |  |
| **Balanced funds 6%** | **Balanced funds 6%** | **Balanced funds 6%** | **Balanced funds 6%** | **Balanced funds 6%** | **Balanced funds 6%** | **Balanced funds 6%** | **Balanced funds 6%** | **Balanced funds 6%** |
| American Balanced Fund, Class R-6 | 218707 | &nbsp;&nbsp; 28677 | &nbsp;&nbsp; 10685 | &nbsp;&nbsp; 1266 | &nbsp;&nbsp; (12684)<br>| &nbsp;&nbsp; 225281 | &nbsp;&nbsp; 3402 | &nbsp;&nbsp; 10613 |
| **Fixed income funds 78%** | **Fixed income funds 78%** | **Fixed income funds 78%** | **Fixed income funds 78%** | **Fixed income funds 78%** | **Fixed income funds 78%** | **Fixed income funds 78%** | **Fixed income funds 78%** | **Fixed income funds 78%** |
| Short-Term Bond Fund of America, Class R-6 | 782550 | &nbsp;&nbsp; 143697 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 8540 | &nbsp;&nbsp; 934787 | &nbsp;&nbsp; 18464 | &nbsp;&nbsp; — |
| Intermediate Bond Fund of America, Class R-6 | 682032 | &nbsp;&nbsp; 61192 | &nbsp;&nbsp; 807 | &nbsp;&nbsp; 33 | &nbsp;&nbsp; 12445 | &nbsp;&nbsp; 754895 | &nbsp;&nbsp; 15520 | &nbsp;&nbsp; — |
| American Funds Mortgage Fund, Class R-6 | 463106 | &nbsp;&nbsp; 17802 | &nbsp;&nbsp; 13000 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 7445 | &nbsp;&nbsp; 475409 | &nbsp;&nbsp; 10991 | &nbsp;&nbsp; — |
| American Funds Strategic Bond Fund, Class R-6<sup>2</sup> <br>| 287425 | &nbsp;&nbsp; 11391 | &nbsp;&nbsp; 19498 | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 10577 | &nbsp;&nbsp; 290295 | &nbsp;&nbsp; (714)<br>| &nbsp;&nbsp; — |
| The Bond Fund of America, Class R-6 | 249527 | &nbsp;&nbsp; 8161 | &nbsp;&nbsp; 31084 | &nbsp;&nbsp; (3929)<br>| &nbsp;&nbsp; 5039 | &nbsp;&nbsp; 227714 | &nbsp;&nbsp; 5410 | &nbsp;&nbsp; — |
| American Funds Multi-Sector Income Fund, Class R-6 | 113297 | &nbsp;&nbsp; 4200 | &nbsp;&nbsp; 14349 | &nbsp;&nbsp; 609 | &nbsp;&nbsp; (2218)<br>| &nbsp;&nbsp; 101539 | &nbsp;&nbsp; 3495 | &nbsp;&nbsp; — |
| American High-Income Trust, Class R-6 | 114076 | &nbsp;&nbsp; 4430 | &nbsp;&nbsp; 15865 | &nbsp;&nbsp; 1189 | &nbsp;&nbsp; (2745)<br>| &nbsp;&nbsp; 101085 | &nbsp;&nbsp; 3566 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 2885724 |  |  |
| **Total 100%** |  |  |  | &nbsp;&nbsp; $5681 | &nbsp;&nbsp; $(4838)<br>| &nbsp;&nbsp; $3689422 | &nbsp;&nbsp; $68521 | &nbsp;&nbsp; $32970 |

---

<sup>1</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>2</sup> A portion of the fund's income dividends and/or capital gains distribution was deemed a return of capital for tax purposes. The net realized gain and/or dividend income amounts reflect the return of capital distribution. 

Refer to the notes to financial statements.

American Funds College Target Date Series<sub>12</sub>

------

American Funds College Enrollment Fund<sup>®</sup> unaudited

**Investment portfolio** April 30, 2025

---

| | | |
|:---|:---|:---|
| Growth-and-income funds 8% | Shares | Value<br> (000)<br>|
| American Mutual Fund, Class R-6 | 5822604 | $320884 |
| Balanced funds 5% |  |  |
| American Balanced Fund, Class R-6 | 5235517 | 178374 |
| Fixed income funds 87% |  |  |
| Short-Term Bond Fund of America, Class R-6 | 176138956 | 1696218 |
| Intermediate Bond Fund of America, Class R-6 | 77829728 | 987659 |
| American Funds Mortgage Fund, Class R-6 | 43434227 | 384393 |
| American Funds Strategic Bond Fund, Class R-6 | 20685109 | 193613 |
|  |  | 3261883 |
| **Total investment securities 100%** (cost: $3,960,978,000) |  | 3761141 |
| Other assets less liabilities 0% |  | (924)<br>|
| **Net assets 100%** |  | $3760217 |

---

**Investments in affiliates**<sup>1</sup>

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>11/1/2024 <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>4/30/2025 <br>(000)<br>| Dividend <br>income <br>(000)<br>| Capital gain <br>distributions <br>received <br>(000)<br>|
| **Growth-and-income funds 8%** | **Growth-and-income funds 8%** | **Growth-and-income funds 8%** | **Growth-and-income funds 8%** | **Growth-and-income funds 8%** | **Growth-and-income funds 8%** | **Growth-and-income funds 8%** | **Growth-and-income funds 8%** | **Growth-and-income funds 8%** |
| American Mutual Fund, Class R-6 | $358093 | &nbsp;&nbsp; $21887 | &nbsp;&nbsp; $39060 | &nbsp;&nbsp; $5887 | &nbsp;&nbsp; $(25923)<br>| &nbsp;&nbsp; $320884 | &nbsp;&nbsp; $3612 | &nbsp;&nbsp; $14908 |
| **Balanced funds 5%** | **Balanced funds 5%** | **Balanced funds 5%** | **Balanced funds 5%** | **Balanced funds 5%** | **Balanced funds 5%** | **Balanced funds 5%** | **Balanced funds 5%** | **Balanced funds 5%** |
| American Balanced Fund, Class R-6 | 199447 | &nbsp;&nbsp; 12181 | &nbsp;&nbsp; 23757 | &nbsp;&nbsp; 1941 | &nbsp;&nbsp; (11438)<br>| &nbsp;&nbsp; 178374 | &nbsp;&nbsp; 2927 | &nbsp;&nbsp; 9254 |
| **Fixed income funds 87%** | **Fixed income funds 87%** | **Fixed income funds 87%** | **Fixed income funds 87%** | **Fixed income funds 87%** | **Fixed income funds 87%** | **Fixed income funds 87%** | **Fixed income funds 87%** | **Fixed income funds 87%** |
| Short-Term Bond Fund of America, Class R-6 | 1831054 | &nbsp;&nbsp; 37488 | &nbsp;&nbsp; 187946 | &nbsp;&nbsp; 2444 | &nbsp;&nbsp; 13178 | &nbsp;&nbsp; 1696218 | &nbsp;&nbsp; 37489 | &nbsp;&nbsp; — |
| Intermediate Bond Fund of America, Class R-6 | 1047004 | &nbsp;&nbsp; 21727 | &nbsp;&nbsp; 97091 | &nbsp;&nbsp; (6643)<br>| &nbsp;&nbsp; 22662 | &nbsp;&nbsp; 987659 | &nbsp;&nbsp; 21730 | &nbsp;&nbsp; — |
| American Funds Mortgage Fund, Class R-6 | 396576 | &nbsp;&nbsp; 9039 | &nbsp;&nbsp; 27044 | &nbsp;&nbsp; (3356)<br>| &nbsp;&nbsp; 9178 | &nbsp;&nbsp; 384393 | &nbsp;&nbsp; 9039 | &nbsp;&nbsp; — |
| American Funds Strategic Bond Fund, Class R-6<sup>2</sup> <br>| 198815 | &nbsp;&nbsp; 3385 | &nbsp;&nbsp; 15855 | &nbsp;&nbsp; (2636)<br>| &nbsp;&nbsp; 9904 | &nbsp;&nbsp; 193613 | &nbsp;&nbsp; (628)<br>| &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 3261883 |  |  |
| **Total 100%** |  |  |  | &nbsp;&nbsp; $(2363)<br>| &nbsp;&nbsp; $17561 | &nbsp;&nbsp; $3761141 | &nbsp;&nbsp; $74169 | &nbsp;&nbsp; $24162 |

---

<sup>1</sup> Part of the same "group of investment companies" as the fund as defined under the Investment Company Act of 1940, as amended.

<sup>2</sup> A portion of the fund's income dividends and/or capital gains distribution was deemed a return of capital for tax purposes. The net realized gain and/or dividend income amounts reflect the return of capital distribution. 

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **13** | American Funds College Target Date Series |

---

------

Financial statementsunaudited

**Statements of assets and liabilities** at April 30, 2025 (dollars and shares in thousands, except per-share amounts)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  | **College 2042** <br> **Fund**<br>| **College 2039** <br> **Fund**<br>| **College 2036** <br> **Fund**<br>| **College 2033** <br> **Fund**<br>| **College 2030** <br> **Fund**<br>|
| **Assets:** | **Assets:** |  |  |  |  |  |
| Investment securities of affiliated issuers, at value | Investment securities of affiliated issuers, at value | $278272 | $1424449 | $2847746 | $3650773 | $4414069 |
| Receivables for: | Receivables for: |  |  |  |  |  |
| Sales of investments | Sales of investments |  |  |  |  |  |
| Sales of fund's shares | Sales of fund's shares | 1318 | 1608 | 1836 | 1875 | 1987 |
| Dividends | Dividends | 58 | 1021 | 3784 | 6139 | 9276 |
| Total assets | Total assets | 279648 | 1427078 | 2853366 | 3658787 | 4425332 |
| **Liabilities:** | **Liabilities:** |  |  |  |  |  |
| Payables for: | Payables for: |  |  |  |  |  |
| Purchases of investments | Purchases of investments | 1356 | 2413 | 4775 | 7134 | 10457 |
| Repurchases of fund's shares | Repurchases of fund's shares | 22 | 206 | 870 | 881 | 802 |
| Services provided by related parties | Services provided by related parties | 44 | 215 | 464 | 610 | 762 |
| Trustees' deferred compensation | Trustees' deferred compensation | —<br> \*<br>| 4 | 11 | 19 | 27 |
| Other | Other | 11 | 60 | 122 | 158 | 192 |
| Total liabilities | Total liabilities | 1433 | 2898 | 6242 | 8802 | 12240 |
| **Net assets at April 30, 2025** | **Net assets at April 30, 2025** | $278215 | $1424180 | $2847124 | $3649985 | $4413092 |
| **Net assets consist of:** | **Net assets consist of:** |  |  |  |  |  |
| Capital paid in on shares of beneficial interest | Capital paid in on shares of beneficial interest | $279093 | $1274489 | $2610924 | $3405388 | $4332043 |
| Total distributable earnings (accumulated loss) | Total distributable earnings (accumulated loss) | (878)<br>| 149691 | 236200 | 244597 | 81049 |
| **Net assets at April 30, 2025** | **Net assets at April 30, 2025** | $278215 | $1424180 | $2847124 | $3649985 | $4413092 |
| Investment securities of affiliated issuers, at cost | Investment securities of affiliated issuers, at cost | $286909 | $1334037 | $2721265 | $3549455 | $4435856 |
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized | Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized |  |  |  |  |  |
| **Class 529-A:** | Net assets | $180767 | $986686 | $2187085 | $2944989 | $3568537 |
|  | Shares outstanding | 16873 | 87102 | 173100 | 232845 | 267164 |
|  | Net asset value per share | $10.71 | $11.33 | $12.63 | $12.65 | $13.36 |
| **Class 529-C:** | Net assets | $22440 | $117421 | $107289 | $80022 | $120060 |
|  | Shares outstanding | 2106 | 10492 | 8615 | 6390 | 9104 |
|  | Net asset value per share | $10.66 | $11.19 | $12.45 | $12.52 | $13.19 |
| **Class 529-E:** | Net assets | $3566 | $19705 | $61368 | $84355 | $106454 |
|  | Shares outstanding | 333 | 1744 | 4873 | 6713 | 8043 |
|  | Net asset value per share | $10.70 | $11.30 | $12.59 | $12.57 | $13.24 |
| **Class 529-T:** | Net assets | $11 | $12 | $17 | $18 | $16 |
|  | Shares outstanding | 1 | 1 | 1 | 1 | 1 |
|  | Net asset value per share | $10.75 | $11.40 | $12.76 | $12.70 | $13.39 |
| **Class 529-F-1:** | Net assets | $11 | $12 | $17 | $13 | $13 |
|  | Shares outstanding | 1 | 1 | 1 | 1 | 1 |
|  | Net asset value per share | $10.75 | $11.40 | $12.73 | $12.72 | $13.43 |
| **Class 529-F-2:** | Net assets | $71409 | $300021 | $491336 | $540426 | $617739 |
|  | Shares outstanding | 6647 | 26360 | 38912 | 42759 | 46290 |
|  | Net asset value per share | $10.74 | $11.38 | $12.63 | $12.64 | $13.34 |
| **Class 529-F-3:** | Net assets | $11 | $323 | $12 | $162 | $273 |
|  | Shares outstanding | 1 | 28 | 1 | 13 | 21 |
|  | Net asset value per share | $10.75 | $11.40 | $12.81 | $12.65 | $13.35 |

---

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

American Funds College Target Date Series<sub>14</sub>

------

Financial statements (continued)unaudited

**Statements of assets and liabilities** at April 30, 2025 (continued)(dollars and shares in thousands, except per-share amounts)

---

| | | | |
|:---|:---|:---|:---|
|  |  | **College 2027** <br> **Fund**<br>| **College** <br> **Enrollment** <br> **Fund**<br>|
| **Assets:** | **Assets:** |  |  |
| Investment securities of affiliated issuers, at value | Investment securities of affiliated issuers, at value | $3689422 | $3761141 |
| Receivables for: | Receivables for: |  |  |
| Sales of investments | Sales of investments |  | 488 |
| Sales of fund's shares | Sales of fund's shares | 2726 | 1898 |
| Dividends | Dividends | 9784 | 11025 |
| Total assets | Total assets | 3701932 | 3774552 |
| **Liabilities:** | **Liabilities:** |  |  |
| Payables for: | Payables for: |  |  |
| Purchases of investments | Purchases of investments | 11116 | 11025 |
| Repurchases of fund's shares | Repurchases of fund's shares | 1339 | 2386 |
| Services provided by related parties | Services provided by related parties | 673 | 706 |
| Trustees' deferred compensation | Trustees' deferred compensation | 24 | 52 |
| Other | Other | 162 | 166 |
| Total liabilities | Total liabilities | 13314 | 14335 |
| **Net assets at April 30, 2025** | **Net assets at April 30, 2025** | $3688618 | $3760217 |
| **Net assets consist of:** | **Net assets consist of:** |  |  |
| Capital paid in on shares of beneficial interest | Capital paid in on shares of beneficial interest | $3721961 | $4061517 |
| Total distributable earnings (accumulated loss) | Total distributable earnings (accumulated loss) | (33343)<br>| (301300)<br>|
| **Net assets at April 30, 2025** | **Net assets at April 30, 2025** | $3688618 | $3760217 |
| Investment securities of affiliated issuers, at cost | Investment securities of affiliated issuers, at cost | $3796446 | $3960978 |
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized | Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized |  |  |
| **Class 529-A:** | Net assets | $2860809 | $2914179 |
|  | Shares outstanding | 234690 | 306991 |
|  | Net asset value per share | $12.19 | $9.49 |
| **Class 529-C:** | Net assets | $166219 | $173833 |
|  | Shares outstanding | 13797 | 18105 |
|  | Net asset value per share | $12.05 | $9.60 |
| **Class 529-E:** | Net assets | $94626 | $104547 |
|  | Shares outstanding | 7839 | 11028 |
|  | Net asset value per share | $12.07 | $9.48 |
| **Class 529-T:** | Net assets | $15 | $12 |
|  | Shares outstanding | 1 | 1 |
|  | Net asset value per share | $12.23 | $9.49 |
| **Class 529-F-1:** | Net assets | $12 | $11 |
|  | Shares outstanding | 1 | 1 |
|  | Net asset value per share | $12.26 | $9.51 |
| **Class 529-F-2:** | Net assets | $566925 | $567488 |
|  | Shares outstanding | 46561 | 59867 |
|  | Net asset value per share | $12.18 | $9.48 |
| **Class 529-F-3:** | Net assets | $12 | $147 |
|  | Shares outstanding | 1 | 16 |
|  | Net asset value per share | $12.17 | $9.47 |

---

\*

Amount less than one thousand.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **15** | American Funds College Target Date Series |

---

------

Financial statements (continued)unaudited

**Statements of operations** for the six months ended April 30, 2025 (dollars in thousands)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **College 2042** <br> **Fund**<br>| **College 2039** <br> **Fund**<br>| **College 2036** <br> **Fund**<br>| **College 2033** <br> **Fund**<br>| **College 2030** <br> **Fund**<br>|
| **Investment income:** |  |  |  |  |  |
| Income: |  |  |  |  |  |
| Dividends from affiliated issuers | $1641 | $15485 | $40846 | $60479 | $79980 |
| Fees and expenses\*: |  |  |  |  |  |
| Distribution services | 281 | 1693 | 3281 | 4074 | 4961 |
| Transfer agent services | 95 | 666 | 1379 | 1769 | 2139 |
| 529 plan services | 54 | 362 | 742 | 947 | 1144 |
| Reports to shareholders | 2 | 11 | 28 | 40 | 49 |
| Registration statement and prospectus | 20 | 72 | 81 | 89 | 100 |
| Trustees' compensation | — <br><sup>†</sup><br>| 2 | 4 | 5 | 5 |
| Auditing and legal | — <br><sup>†</sup><br>| 1 | 2 | 3 | 4 |
| Custodian | — <br><sup>†</sup><br>| 1 | 3 | 4 | 5 |
| Other | — <br><sup>†</sup><br>| 1 | 3 | 4 | 5 |
| Total fees and expenses | 452 | 2809 | 5523 | 6935 | 8412 |
| Net investment income (loss) | 1189 | 12676 | 35323 | 53544 | 71568 |
| **Net realized gain (loss) and unrealized appreciation** <br> **(depreciation):**<br>|  |  |  |  |  |
| Net realized gain (loss) on sale of investments in affiliated <br> issuers<br>|  | 30 | 207 | 27844 | 339 |
| Capital gain distributions received from affiliated issuers | 7489 | 54657 | 92404 | 87783 | 65618 |
|  | 7489 | 54687 | 92611 | 115627 | 65957 |
| Net unrealized appreciation (depreciation) on investments in <br> affiliated issuers<br>| (11737)<br>| (65952)<br>| (101337)<br>| (100146)<br>| (40474)<br>|
| Net realized gain (loss) and unrealized appreciation <br> (depreciation)<br>| (4248)<br>| (11265)<br>| (8726)<br>| 15481 | 25483 |
| **Net increase (decrease) in net assets resulting from operations** | $(3059)<br>| $1411 | $26597 | $69025 | $97051 |

---

Refer to the end of the statements of operations for footnote(s).

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| American Funds College Target Date Series | **16** |

---

------

Financial statements (continued)unaudited

**Statements of operations** for the six months ended April 30, 2025 (continued)(dollars in thousands)

---

| | | |
|:---|:---|:---|
|  | **College 2027** <br> **Fund**<br>| **College** <br> **Enrollment** <br> **Fund**<br>|
| **Investment income:** |  |  |
| Income: |  |  |
| Dividends from affiliated issuers | $68521 | $74169 |
| Fees and expenses\*: |  |  |
| Distribution services | 4311 | 4285 |
| Transfer agent services | 1779 | 1911 |
| 529 plan services | 955 | 1023 |
| Reports to shareholders | 47 | 49 |
| Registration statement and prospectus | 83 | 112 |
| Trustees' compensation | 5 | 5 |
| Auditing and legal | 3 | 8 |
| Custodian | 4 | 4 |
| Other | 4 | 4 |
| Total fees and expenses | 7191 | 7401 |
| Net investment income (loss) | 61330 | 66768 |
| **Net realized gain (loss) and unrealized appreciation** <br> **(depreciation):**<br>|  |  |
| Net realized gain (loss) on sale of investments in affiliated <br> issuers<br>| 5681 | (2363)<br>|
| Capital gain distributions received from affiliated issuers | 32970 | 24162 |
|  | 38651 | 21799 |
| Net unrealized appreciation (depreciation) on investments in <br> affiliated issuers<br>| (4838)<br>| 17561 |
| Net realized gain (loss) and unrealized appreciation <br> (depreciation)<br>| 33813 | 39360 |
| **Net increase (decrease) in net assets resulting from operations** | $95143 | $106128 |

---

\*

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

<sup>†</sup>

Amount less than one thousand.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **17** | American Funds College Target Date Series |

---

------

Financial statements (continued)

**Statements of changes in net assets**(dollars in thousands)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **College 2042 Fund** | **College 2042 Fund** | **College 2039 Fund** | **College 2039 Fund** | **College 2036 Fund** | **College 2036 Fund** |
|  | Six months <br>ended <br>April 30,<br>2025\* | Period <br>ended <br>October 31,<br>2024<sup>†</sup> | Six months <br>ended <br>April 30,<br>2025\* | Year ended <br> October 31,<br>2024 | Six months <br>ended <br>April 30,<br>2025\* | Year ended <br> October 31,<br>2024 |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $1189 | $176 | $12676 | $13602 | $35323 | $51289 |
| Net realized gain (loss) | 7489 | 247 | 54687 | 23544 | 92611 | 97578 |
| Net unrealized appreciation (depreciation) | (11737)<br>| 3100 | (65952)<br>| 193441 | (101337)<br>| 376904 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| (3059)<br>| 3523 | 1411 | 230587 | 26597 | 525771 |
| **Distributions paid to shareholders** | (1339)<br>|  | (39525)<br>| (12777)<br>| (139929)<br>| (35924)<br>|
| **Net capital share transactions** | 164071 | 115019 | 230881 | 384733 | 326192 | 354661 |
| **Total increase (decrease) in net assets** | 159673 | 118542 | 192767 | 602543 | 212860 | 844508 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 118542 |  | 1231413 | 628870 | 2634264 | 1789756 |
| End of period | $278215 | $118542 | $1424180 | $1231413 | $2847124 | $2634264 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **College 2033 Fund** | **College 2033 Fund** | **College 2030 Fund** | **College 2030 Fund** | **College 2027 Fund** | **College 2027 Fund** |
|  | Six months <br>ended <br>April 30,<br>2025\* | Year ended <br> October 31,<br>2024 | Six months <br>ended <br>April 30,<br>2025\* | Year ended <br> October 31,<br>2024 | Six months <br>ended <br>April 30,<br>2025\* | Year ended <br> October 31,<br>2024 |
| **Operations:** |  |  |  |  |  |  |
| Net investment income (loss) | $53544 | $89254 | $71568 | $129169 | $61330 | $117432 |
| Net realized gain (loss) | 115627 | 62211 | 65957 | 70100 | 38651 | 30994 |
| Net unrealized appreciation (depreciation) | (100146)<br>| 445055 | (40474)<br>| 422336 | (4838)<br>| 270470 |
| Net increase (decrease) in net assets resulting from <br> operations<br>| 69025 | 596520 | 97051 | 621605 | 95143 | 418896 |
| **Distributions paid to shareholders** | (127274)<br>| (67762)<br>| (159019)<br>| (104891)<br>| (128368)<br>| (95851)<br>|
| **Net capital share transactions** | 306136 | 356637 | 323582 | 379545 | 227718 | 312093 |
| **Total increase (decrease) in net assets** | 247887 | 885395 | 261614 | 896259 | 194493 | 635138 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 3402098 | 2516703 | 4151478 | 3255219 | 3494125 | 2858987 |
| End of period | $3649985 | $3402098 | $4413092 | $4151478 | $3688618 | $3494125 |

---

Refer to the end of the statements of changes in net assets for footnote(s).

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| American Funds College Target Date Series | **18** |

---

------

Financial statements (continued)

**Statements of changes in net assets** (continued)(dollars in thousands)

---

| | | |
|:---|:---|:---|
|  | **College Enrollment Fund** | **College Enrollment Fund** |
|  | Six months <br>ended <br>April 30,<br>2025\* | Year ended <br> October 31,<br>2024 |
| **Operations:** |  |  |
| Net investment income (loss) | $66768 | $113440 |
| Net realized gain (loss) | 21799 | (7233)<br>|
| Net unrealized appreciation (depreciation) | 17561 | (22747)<br>|
| Net increase (decrease) in net assets resulting from <br> operations<br>| 106128 | 83460 |
| **Distributions paid to shareholders** | (128559)<br>| (56611)<br>|
| **Net capital share transactions** | (246934)<br>| 2365021 |
| **Total increase (decrease) in net assets** | (269365)<br>| 2391870 |
| **Net assets:** |  |  |
| Beginning of period | 4029582 | 1637712 |
| End of period | $3760217 | $4029582 |

---

\*

Unaudited.

<sup>†</sup>

For the period March 15, 2024, commencement of operations, through October 31, 2024.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **19** | American Funds College Target Date Series |

---

------

Notes to financial statementsunaudited

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

**1. Organization**

------

American Funds College Target Date Series (the "series") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end, diversified management investment company. The series consists of seven funds (the "funds") — American Funds College 2042 Fund ("College 2042 Fund"), American Funds College 2039 Fund ("College 2039 Fund"), American Funds College 2036 Fund ("College 2036 Fund"), American Funds College 2033 Fund ("College 2033 Fund"), American Funds College 2030 Fund ("College 2030 Fund"), American Funds College 2027 Fund ("College 2027 Fund") and American Funds College Enrollment Fund ("College Enrollment Fund"). The assets of each fund are segregated, with each fund accounted for separately.

Each fund in the series is designed for investors who plan to attend college in, or close to, the year designated in the fund's name. Depending on its proximity to its target date, each fund will seek to achieve the following objectives to varying degrees: growth, income and preservation of capital. As each fund approaches its target date, it will increasingly emphasize income and preservation of capital by investing a greater portion of its assets in fixed income, equity-income and balanced funds. When each fund reaches its target date, it will primarily invest in fixed income funds and may merge into the College Enrollment Fund, which principally invests in fixed income funds. Each fund will attempt to achieve its investment objectives by investing in a mix of American Funds (the "underlying funds") in different combinations and weightings. Capital Research and Management Company ("CRMC"), the series' investment adviser, is also the investment adviser of the underlying funds.

Each fund in the series has seven 529 college savings plan share classes (Classes 529-A, 529-C, 529-E, 529-T, 529-F-1, 529-F-2 and 529-F-3). The funds' share classes are described further in the following table:

---

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

---

\*

Class 529-T shares are not available for purchase.

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

**2. Significant accounting policies**

------

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

---

| | |
|:---|:---|
| American Funds College Target Date Series | **20** |

---

------

**Operating segments** — In the reporting period, the funds early adopted FASB Accounting Standards Update 2023-07, Improvements to Reportable Segment Disclosures. Adoption of the new standard impacted financial statement disclosures only and did not affect each fund's financial position or the results of its operations. Each fund represents a single operating segment as the operating results of each fund are monitored as a whole and its long-term asset allocation is determined in accordance with the terms of its prospectus, based on defined investment objectives that are executed by the fund's portfolio management team. A senior executive team comprised of the funds' Principal Executive Officer and Principal Financial Officer, serves as the funds' chief operating decision maker ("CODM"), who act in accordance with Board of Trustee reviews and approvals. The CODM uses financial information, such as changes in net assets from operations, changes in net assets from fund share transactions, and income and expense ratios, consistent with that presented within the accompanying financial statements and financial highlights to assess each fund's profits and losses and to make resource allocation decisions. Segment assets are reflected in the statement of assets and liabilities as net assets, which consists primarily of investment securities, at value, and significant segment expenses are listed in the accompanying statement of operations.

**Security transactions and related investment income** — Security transactions are recorded by the funds as of the date the trades are executed. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. Dividend income is recognized on the ex-dividend date. Distributions received by the funds that represent a return of capital or capital gains are recorded as a reduction of cost of investments and/or as a realized gain.

**Fees and expenses** — The fees and expenses of the underlying funds are not included in the fees and expenses reported for each of the funds; however, they are indirectly reflected in the valuation of each of the underlying funds. These fees are included in the net effective expense ratios that are provided as supplementary information in the financial highlights tables.

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

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

**3. Valuation**

------

**Security valuation** — The net asset value per share of each fund 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. The net asset value of each share class of each fund is calculated based on the reported net asset values of the underlying funds in which each fund invests. The net asset value of each underlying fund is calculated based on the policies and procedures of the underlying fund contained in each underlying fund's statement of additional information.

**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.

**Classifications** — The series' investment adviser classifies each fund's assets and liabilities into three levels based on the method 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. 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. As of April 30, 2025, all of the investment securities held by each fund were classified as Level 1.

---

| | |
|:---|:---|
| **21** | American Funds College Target Date Series |

---

------

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

**4. Risk factors**

------

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

**Allocation risk** — Investments in each fund are subject to risks related to the investment adviser's allocation choices. The selection of the underlying funds and the allocation of each fund's assets could cause the funds to lose value or their results to lag relevant benchmarks or other funds with similar objectives. Some of the funds may invest in an underlying fixed-income fund that is a nondiversified investment company under the Investment Company Act of 1940. To the extent that any of the funds that invest in the nondiversified investment company invests a larger percentage of its assets in securities of one or more issuers, poor performance by these securities could have a greater adverse impact on that fund's investment results.

**Fund structure** — Each fund invests in underlying funds and incurs expenses related to the underlying funds. In addition, investors in each fund will incur fees to pay for certain expenses related to the operations of the fund. An investor holding the underlying funds directly and in the same proportions as each fund would incur lower overall expenses but would not receive the benefit of the portfolio management and other services provided by each fund. Additionally, in accordance with an exemption under the Investment Company Act of 1940, as amended, the investment adviser considers only proprietary funds when selecting underlying investment options and allocations. This means that the funds' investment adviser does not, nor does it expect to, consider any unaffiliated funds as underlying investment options for each fund. This strategy could raise certain conflicts of interest when determining the overall asset allocation of each fund or choosing underlying investments for each fund, including the selection of funds that result in greater compensation to the adviser or funds with relatively lower historical investment results. The investment adviser has policies and procedures designed to mitigate material conflicts of interest that may arise in connection with its management of each fund.

**Underlying fund risks** — Because each fund's investments consist of underlying funds, each fund's risks are directly related to the risks of the underlying funds. For this reason, it is important to understand the risks associated with investing in the underlying funds, as described below.

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

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

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

**Investing in stocks** — Investing in stocks may involve larger price swings and greater potential for loss than other types of investments. As a result, the value of the underlying funds may be subject to sharp declines in value. Income provided by an underlying fund may be reduced by changes in the dividend policies of, and the capital resources available at, the companies in which the underlying fund invests. These risks may be even greater in the case of smaller capitalization stocks. As the fund nears its target date, a decreasing proportion of the fund's assets will be invested in underlying funds that invest primarily in stocks. Accordingly, these risks are expected to be more significant the further the fund is removed from its target date and are expected to lessen as the fund approaches its target date.

---

| | |
|:---|:---|
| American Funds College Target Date Series | **22** |

---

------

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

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

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

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

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

**Investing in securities backed by the U.S. government** — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets.

---

| | |
|:---|:---|
| **23** | American Funds College Target Date Series |

---

------

Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

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

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

**5. Taxation and distributions**

------

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

As of and during the period ended April 30, 2025, none of the funds had a liability for any unrecognized tax benefits. Each fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in their respective statements of operations. During the period, none of the funds incurred any significant interest or penalties.

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

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

Dividends from net investment income and distributions from short-term net realized gains shown in the funds' statements of changes in net assets are considered ordinary income distributions for tax purposes. Distributions from long-term net realized gains in the funds' statements of changes in net assets are considered long-term capital gain distributions for tax purposes.

---

| | |
|:---|:---|
| American Funds College Target Date Series | **24** |

---

------

Additional tax basis disclosures for each fund are as follows (dollars in thousands):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **College** <br>**2042** <br>**Fund**<br>| &nbsp;&nbsp; **College** <br>**2039** <br>**Fund**<br>| &nbsp;&nbsp; **College** <br>**2036** <br>**Fund**<br>| &nbsp;&nbsp; **College** <br>**2033** <br>**Fund**<br>| &nbsp;&nbsp; **College** <br>**2030** <br>**Fund**<br>| &nbsp;&nbsp; **College** <br>**2027** <br>**Fund**<br>| &nbsp;&nbsp; **College** <br>**Enrollment** <br>**Fund**<br>|
| **As of October 31, 2024** |  |  |  |  |  |  |  |
| Undistributed ordinary income | &nbsp;&nbsp; $173 | &nbsp;&nbsp; $7926 | &nbsp;&nbsp; $36674 | &nbsp;&nbsp; $68265 | &nbsp;&nbsp; $100766 | &nbsp;&nbsp; $98034 | &nbsp;&nbsp; $102387 |
| Undistributed long-term capital gains | &nbsp;&nbsp; 247 | &nbsp;&nbsp; 23538 | &nbsp;&nbsp; 85161 | &nbsp;&nbsp; 33210 | &nbsp;&nbsp; 23684 | &nbsp;&nbsp; 4394 | &nbsp;&nbsp; — |
| Capital loss carryforward\* | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (159061)<br>|
| Capital loss carryforward utilized | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 11802 | &nbsp;&nbsp; 27537 | &nbsp;&nbsp; 43516 | &nbsp;&nbsp; 21220 | &nbsp;&nbsp; — |
| **As of April 30, 2025** |  |  |  |  |  |  |  |
| Gross unrealized appreciation on <br> investments<br>| &nbsp;&nbsp; 698 | &nbsp;&nbsp; 92870 | &nbsp;&nbsp; 157816 | &nbsp;&nbsp; 180360 | &nbsp;&nbsp; 148004 | &nbsp;&nbsp; 77758 | &nbsp;&nbsp; 35651 |
| Gross unrealized depreciation on <br> investments<br>| &nbsp;&nbsp; (9335)<br>| &nbsp;&nbsp; (2478)<br>| &nbsp;&nbsp; (31444)<br>| &nbsp;&nbsp; (79114)<br>| &nbsp;&nbsp; (169885)<br>| &nbsp;&nbsp; (184826)<br>| &nbsp;&nbsp; (240705)<br>|
| Net unrealized appreciation (depreciation) <br> on investments<br>| &nbsp;&nbsp; (8637)<br>| &nbsp;&nbsp; 90392 | &nbsp;&nbsp; 126372 | &nbsp;&nbsp; 101246 | &nbsp;&nbsp; (21881)<br>| &nbsp;&nbsp; (107068)<br>| &nbsp;&nbsp; (205054)<br>|
| Cost of investments | &nbsp;&nbsp; 286909 | &nbsp;&nbsp; 1334057 | &nbsp;&nbsp; 2721374 | &nbsp;&nbsp; 3549527 | &nbsp;&nbsp; 4435950 | &nbsp;&nbsp; 3796490 | &nbsp;&nbsp; 3966195 |

---

\*

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

No distributions were paid to shareholders of the College 2042 Fund during the period March 15, 2024, commencement of operations, through October 31, 2024. Distributions paid by all other funds were characterized for tax purposes as follows (dollars in thousands):

**College 2042 Fund** 

---

| | | | |
|:---|:---|:---|:---|
| | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** |
| <br>**Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>|
| Class 529-A | &nbsp;&nbsp; $706 | $164 | $870 |
| Class 529-C | &nbsp;&nbsp; 50 | 19 | 69 |
| Class 529-E | &nbsp;&nbsp; 13 | 3 | 16 |
| Class 529-T | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>|
| Class 529-F-1 | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>|
| Class 529-F-2 | &nbsp;&nbsp; 321 | 63 | 384 |
| Class 529-F-3 | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>|
| Total | &nbsp;&nbsp; $1090 | $249 | $1339 |

---

**College 2039 Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** |
| <br>**Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| &nbsp;&nbsp;&nbsp; **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 529-A | &nbsp;&nbsp; $11069 | $16350 | $27419 | &nbsp;&nbsp;&nbsp;&nbsp; $6513 | $2409 | $8922 |
| Class 529-C | &nbsp;&nbsp; 692 | 1970 | 2662 | &nbsp;&nbsp;&nbsp;&nbsp; 461 | 273 | 734 |
| Class 529-E | &nbsp;&nbsp; 188 | 322 | 510 | &nbsp;&nbsp;&nbsp;&nbsp; 119 | 48 | 167 |
| Class 529-T | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>|
| Class 529-F-1 | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>|
| Class 529-F-2 | &nbsp;&nbsp; 4021 | 4902 | 8923 | &nbsp;&nbsp;&nbsp;&nbsp; 2258 | 691 | 2949 |
| Class 529-F-3 | &nbsp;&nbsp; 5 | 6 | 11 | &nbsp;&nbsp;&nbsp;&nbsp; 4 | 1 | 5 |
| Total | &nbsp;&nbsp; $15975 | $23550 | $39525 | &nbsp;&nbsp;&nbsp;&nbsp; $9355 | $3422 | $12777 |

---

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

---

| | |
|:---|:---|
| **25** | American Funds College Target Date Series |

---

------

**College 2036 Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** |
| <br>**Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| &nbsp;&nbsp;&nbsp; **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 529-A | &nbsp;&nbsp; $41919 | $65443 | $107362 | &nbsp;&nbsp;&nbsp;&nbsp; $27791 | $— | $27791 |
| Class 529-C | &nbsp;&nbsp; 1403 | 3519 | 4922 | &nbsp;&nbsp;&nbsp;&nbsp; 1064 |  | 1064 |
| Class 529-E | &nbsp;&nbsp; 1070 | 1856 | 2926 | &nbsp;&nbsp;&nbsp;&nbsp; 702 |  | 702 |
| Class 529-T | &nbsp;&nbsp; 1 | —<br> \*<br>| 1 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|  | —<br> \*<br>|
| Class 529-F-1 | &nbsp;&nbsp; —<br> \*<br>| 1 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|  | —<br> \*<br>|
| Class 529-F-2 | &nbsp;&nbsp; 10365 | 14352 | 24717 | &nbsp;&nbsp;&nbsp;&nbsp; 6367 |  | 6367 |
| Class 529-F-3 | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|  | —<br> \*<br>|
| Total | &nbsp;&nbsp; $54758 | $85171 | $139929 | &nbsp;&nbsp;&nbsp;&nbsp; $35924 | $— | $35924 |

---

**College 2033 Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** |
| <br>**Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| &nbsp;&nbsp;&nbsp; **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 529-A | &nbsp;&nbsp; $75881 | $26935 | $102816 | &nbsp;&nbsp;&nbsp;&nbsp; $55285 | $— | $55285 |
| Class 529-C | &nbsp;&nbsp; 1584 | 790 | 2374 | &nbsp;&nbsp;&nbsp;&nbsp; 1322 |  | 1322 |
| Class 529-E | &nbsp;&nbsp; 2039 | 786 | 2825 | &nbsp;&nbsp;&nbsp;&nbsp; 1536 |  | 1536 |
| Class 529-T | &nbsp;&nbsp; 1 | —<br> \*<br>| 1 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |  | 1 |
| Class 529-F-1 | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|  | —<br> \*<br>|
| Class 529-F-2 | &nbsp;&nbsp; 14544 | 4708 | 19252 | &nbsp;&nbsp;&nbsp;&nbsp; 9601 |  | 9601 |
| Class 529-F-3 | &nbsp;&nbsp; 4 | 2 | 6 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |  | 17 |
| Total | &nbsp;&nbsp; $94053 | $33221 | $127274 | &nbsp;&nbsp;&nbsp;&nbsp; $67762 | $— | $67762 |

---

**College 2030 Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** |
| <br>**Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| &nbsp;&nbsp;&nbsp; **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 529-A | &nbsp;&nbsp; $109560 | $19256 | $128816 | &nbsp;&nbsp;&nbsp;&nbsp; $86092 | $— | $86092 |
| Class 529-C | &nbsp;&nbsp; 3002 | 684 | 3686 | &nbsp;&nbsp;&nbsp;&nbsp; 2469 |  | 2469 |
| Class 529-E | &nbsp;&nbsp; 3143 | 592 | 3735 | &nbsp;&nbsp;&nbsp;&nbsp; 2544 |  | 2544 |
| Class 529-T | &nbsp;&nbsp; 1 | —<br> \*<br>| 1 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|  | —<br> \*<br>|
| Class 529-F-1 | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|  | —<br> \*<br>|
| Class 529-F-2 | &nbsp;&nbsp; 19588 | 3181 | 22769 | &nbsp;&nbsp;&nbsp;&nbsp; 13757 |  | 13757 |
| Class 529-F-3 | &nbsp;&nbsp; 10 | 2 | 12 | &nbsp;&nbsp;&nbsp;&nbsp; 29 |  | 29 |
| Total | &nbsp;&nbsp; $135304 | $23715 | $159019 | &nbsp;&nbsp;&nbsp;&nbsp; $104891 | $— | $104891 |

---

**College 2027 Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** |
| <br>**Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| &nbsp;&nbsp;&nbsp; **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 529-A | &nbsp;&nbsp; $96518 | $3431 | $99949 | &nbsp;&nbsp;&nbsp;&nbsp; $75945 | $— | $75945 |
| Class 529-C | &nbsp;&nbsp; 4592 | 205 | 4797 | &nbsp;&nbsp;&nbsp;&nbsp; 3545 |  | 3545 |
| Class 529-E | &nbsp;&nbsp; 3022 | 114 | 3136 | &nbsp;&nbsp;&nbsp;&nbsp; 2327 |  | 2327 |
| Class 529-T | &nbsp;&nbsp; 1 | —<br> \*<br>| 1 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |  | 1 |
| Class 529-F-1 | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|  | —<br> \*<br>|
| Class 529-F-2 | &nbsp;&nbsp; 19829 | 656 | 20485 | &nbsp;&nbsp;&nbsp;&nbsp; 14032 |  | 14032 |
| Class 529-F-3 | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1 |  | 1 |
| Total | &nbsp;&nbsp; $123962 | $4406 | $128368 | &nbsp;&nbsp;&nbsp;&nbsp; $95851 | $— | $95851 |

---

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

---

| | |
|:---|:---|
| American Funds College Target Date Series | **26** |

---

------

**College Enrollment Fund** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** |
| <br>**Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| &nbsp;&nbsp;&nbsp; **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class 529-A | &nbsp;&nbsp; $100101 | $— | $100101 | &nbsp;&nbsp;&nbsp;&nbsp; $44786 | $— | $44786 |
| Class 529-C | &nbsp;&nbsp; 4796 |  | 4796 | &nbsp;&nbsp;&nbsp;&nbsp; 1887 |  | 1887 |
| Class 529-E | &nbsp;&nbsp; 3418 |  | 3418 | &nbsp;&nbsp;&nbsp;&nbsp; 1669 |  | 1669 |
| Class 529-T | &nbsp;&nbsp; —<br> \*<br>|  | —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1 |  | 1 |
| Class 529-F-1 | &nbsp;&nbsp; —<br> \*<br>|  | —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|  | —<br> \*<br>|
| Class 529-F-2 | &nbsp;&nbsp; 20238 |  | 20238 | &nbsp;&nbsp;&nbsp;&nbsp; 8268 |  | 8268 |
| Class 529-F-3 | &nbsp;&nbsp; 6 |  | 6 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>|  | —<br> \*<br>|
| Total | &nbsp;&nbsp; $128559 | $— | $128559 | &nbsp;&nbsp;&nbsp;&nbsp; $56611 | $— | $56611 |

---

\*

Amount less than one thousand.

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

------

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

**Investment advisory services** — The series has an investment advisory and service agreement with CRMC. CRMC receives fees from the underlying funds for investment advisory services. These fees are included in the net effective expense ratios that are provided as supplementary information in each fund's financial highlights table.

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

**Distribution services** — The series has plans of distribution for all share classes of each fund, except Class 529-F-2 and 529-F-3 shares. Under the plans, the board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares and service existing accounts. The plans provide for payments, based on an annualized percentage of average daily net assets, ranging from 0.50% to 1.00% as noted in this section. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans. Each share class may use up to 0.25% of average daily net assets to pay service fees, or to compensate CCG for paying service fees, to firms that have entered into agreements with CCG to provide certain shareholder services. The remaining amounts available to be paid under each plan are paid to dealers to compensate them for their sales activities.

---

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

---

For Class 529-A shares, distribution-related expenses include the reimbursement of dealer and wholesaler commissions paid by CCG for certain shares sold without a sales charge. This share class reimburses CCG for amounts billed within the prior 15 months but only to the extent that the overall annual expense limit is not exceeded. As of April 30, 2025, there were no unreimbursed expenses subject to reimbursement for any of the funds.

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

---

| | |
|:---|:---|
| **27** | American Funds College Target Date Series |

---

------

**Administrative services** — The series has an administrative services agreement with CRMC under which each fund compensates CRMC for providing administrative services to the series. Administrative services are provided by CRMC and its affiliates to help assist third parties providing non-distribution services to fund shareholders. These services include providing in-depth information on the series and market developments that impact underlying fund investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to fund shareholders. The agreement provides each underlying fund the ability to charge an administrative services fee at the annual rate of 0.05% of the average daily net assets for Class R-6 shares. CRMC receives administrative services fees at the annual rate of 0.03% of the average daily net assets of the Class R-6 shares of each underlying fund for CRMC's provision of administrative services. These fees are included in the net effective expense ratios that are provided as supplementary information in the financial highlights tables.

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

The quarterly fees are based on a series of decreasing annual rates beginning with 0.09% on the first $20 billion of the combined net assets invested in the American Funds and decreasing to 0.03% on such assets in excess of $75 billion. The fees for any given calendar quarter are accrued and calculated on the basis of the average net assets of Class 529 and ABLE shares of the American Funds for the last month of the prior calendar quarter. For the six months ended April 30, 2025, the 529 plan services fees were $5,227,000, which were equivalent to 0.054% of the average daily net assets of each 529 share class of each fund.

For the six months ended April 30, 2025, the class-specific expenses of each fund under these agreements described in this section were as follows (dollars in thousands):

**College 2042 Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br> **services**<br>| **Transfer agent** <br> **services**<br>| **529 plan** <br> **services**<br>|
| Class 529-A | $195 | &nbsp;&nbsp; $69 | &nbsp;&nbsp; $35 |
| Class 529-C | 80 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 4 |
| Class 529-E | 6 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 1 |
| Class 529-T |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-1 |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-2 | Not applicable | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 14 |
| Class 529-F-3 | Not applicable | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Total class-specific <br> expenses<br>| $281 | &nbsp;&nbsp; $95 | &nbsp;&nbsp; $54 |

---

**College 2039 Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br> **services**<br>| **Transfer agent** <br> **services**<br>| **529 plan** <br> **services**<br>|
| Class 529-A | $1092 | &nbsp;&nbsp; $494 | &nbsp;&nbsp; $251 |
| Class 529-C | 555 | &nbsp;&nbsp; 59 | &nbsp;&nbsp; 30 |
| Class 529-E | 46 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 5 |
| Class 529-T |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-1 |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-2 | Not applicable | &nbsp;&nbsp; 106 | &nbsp;&nbsp; 76 |
| Class 529-F-3 | Not applicable | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Total class-specific <br> expenses<br>| $1693 | &nbsp;&nbsp; $666 | &nbsp;&nbsp; $362 |

---

**College 2036 Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br> **services**<br>| **Transfer agent** <br> **services**<br>| **529 plan** <br> **services**<br>|
| Class 529-A | $2586 | &nbsp;&nbsp; $1121 | &nbsp;&nbsp; $571 |
| Class 529-C | 546 | &nbsp;&nbsp; 58 | &nbsp;&nbsp; 29 |
| Class 529-E | 149 | &nbsp;&nbsp; 23 | &nbsp;&nbsp; 16 |
| Class 529-T |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-1 |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-2 | Not applicable | &nbsp;&nbsp; 177 | &nbsp;&nbsp; 126 |
| Class 529-F-3 | Not applicable | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Total class-specific <br> expenses<br>| $3281 | &nbsp;&nbsp; $1379 | &nbsp;&nbsp; $742 |

---

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

**College 2033 Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br> **services**<br>| **Transfer agent** <br> **services**<br>| **529 plan** <br> **services**<br>|
| Class 529-A | $3468 | &nbsp;&nbsp; $1505 | &nbsp;&nbsp; $767 |
| Class 529-C | 401 | &nbsp;&nbsp; 42 | &nbsp;&nbsp; 22 |
| Class 529-E | 205 | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 22 |
| Class 529-T |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-1 |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-2 | Not applicable | &nbsp;&nbsp; 191 | &nbsp;&nbsp; 136 |
| Class 529-F-3 | Not applicable | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Total class-specific <br> expenses<br>| $4074 | &nbsp;&nbsp; $1769 | &nbsp;&nbsp; $947 |

---

---

| | |
|:---|:---|
| American Funds College Target Date Series | **28** |

---

------

**College 2030 Fund** 

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br> **services**<br>| **Transfer agent** <br> **services**<br>| **529 plan** <br> **services**<br>|
| Class 529-A | $4111 | &nbsp;&nbsp; $1819 | &nbsp;&nbsp; $928 |
| Class 529-C | 591 | &nbsp;&nbsp; 62 | &nbsp;&nbsp; 32 |
| Class 529-E | 259 | &nbsp;&nbsp; 40 | &nbsp;&nbsp; 28 |
| Class 529-T |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-1 |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-2 | Not applicable | &nbsp;&nbsp; 218 | &nbsp;&nbsp; 156 |
| Class 529-F-3 | Not applicable | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Total class-specific <br> expenses<br>| $4961 | &nbsp;&nbsp; $2139 | &nbsp;&nbsp; $1144 |

---

**College 2027 Fund**

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br> **services**<br>| **Transfer agent** <br> **services**<br>| **529 plan** <br> **services**<br>|
| Class 529-A | $3281 | &nbsp;&nbsp; $1457 | &nbsp;&nbsp; $743 |
| Class 529-C | 803 | &nbsp;&nbsp; 85 | &nbsp;&nbsp; 43 |
| Class 529-E | 227 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 25 |
| Class 529-T |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-1 |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-2 | Not applicable | &nbsp;&nbsp; 202 | &nbsp;&nbsp; 144 |
| Class 529-F-3 | Not applicable | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Total class-specific <br> expenses<br>| $4311 | &nbsp;&nbsp; $1779 | &nbsp;&nbsp; $955 |

---

**College Enrollment Fund**

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Distribution** <br> **services**<br>| **Transfer agent** <br> **services**<br>| **529 plan** <br> **services**<br>|
| Class 529-A | $3119 | &nbsp;&nbsp; $1557 | &nbsp;&nbsp; $794 |
| Class 529-C | 903 | &nbsp;&nbsp; 96 | &nbsp;&nbsp; 49 |
| Class 529-E | 263 | &nbsp;&nbsp; 42 | &nbsp;&nbsp; 29 |
| Class 529-T |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-1 |  | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Class 529-F-2 | Not applicable | &nbsp;&nbsp; 216 | &nbsp;&nbsp; 151 |
| Class 529-F-3 | Not applicable | &nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp; —<br> \*<br>|
| Total class-specific <br> expenses<br>| $4285 | &nbsp;&nbsp; $1911 | &nbsp;&nbsp; $1023 |

---

\*

Amount less than one thousand.

**Trustees' deferred compensation** — Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the funds, are treated as if invested in one or more of the American Funds. These amounts represent general, unsecured liabilities of the funds and vary according to the total returns of the selected American Funds. Trustees' compensation shown on the accompanying financial statements reflects current fees (either paid in cash or deferred) and a net increase in the value of the deferred amounts as follows (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
|  | **Current fees** | &nbsp;&nbsp;&nbsp; **Increase in value of** <br>**deferred amounts**<br>| &nbsp;&nbsp;&nbsp; **Total trustees'** <br>**compensation**<br>|
| College 2042 Fund | &nbsp;&nbsp; $—<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; $—<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; $—<br> \*<br>|
| College 2039 Fund | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| College 2036 Fund | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4 |
| College 2033 Fund | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| College 2030 Fund | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| College 2027 Fund | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| College Enrollment Fund | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5 |

---

\*

Amount less than one thousand.

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

**7. Indemnifications**

------

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

---

| | |
|:---|:---|
| **29** | American Funds College Target Date Series |

---

------

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

**8. Investment transactions**

------

The funds engaged in purchases and sales of investment securities of affiliated issuers during the six months ended April 30, 2025, as follows (dollars in thousands):

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales** |
| College 2042 Fund | &nbsp;&nbsp; $171441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— |
| College 2039 Fund | &nbsp;&nbsp; 259204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 636 |
| College 2036 Fund | &nbsp;&nbsp; 315204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 731 |
| College 2033 Fund | &nbsp;&nbsp; 497752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173762 |
| College 2030 Fund | &nbsp;&nbsp; 311324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1746 |
| College 2027 Fund | &nbsp;&nbsp; 350051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150516 |
| College Enrollment Fund | &nbsp;&nbsp; 105860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 386741 |

---

**9. Capital share transactions**

------

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

**College 2042 Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <br>**Sales**<sup>1</sup> | <br>**Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** |
| Class 529-A | &nbsp;&nbsp; $111798 | &nbsp;&nbsp; 10224 | &nbsp;&nbsp;&nbsp; $870 | &nbsp;&nbsp; 79 | &nbsp;&nbsp;&nbsp; $(5140)<br>| &nbsp;&nbsp; (470)<br>| &nbsp;&nbsp;&nbsp; $107528 | &nbsp;&nbsp; 9833 |
| Class 529-C | &nbsp;&nbsp; 13952 | &nbsp;&nbsp; 1280 | &nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp; (290)<br>| &nbsp;&nbsp; (27)<br>| &nbsp;&nbsp;&nbsp; 13731 | &nbsp;&nbsp; 1260 |
| Class 529-E | &nbsp;&nbsp; 2528 | &nbsp;&nbsp; 230 | &nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; (156)<br>| &nbsp;&nbsp; (14)<br>| &nbsp;&nbsp;&nbsp; 2388 | &nbsp;&nbsp; 217 |
| Class 529-T | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>|
| Class 529-F-1 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>|
| Class 529-F-2 | &nbsp;&nbsp; 42436 | &nbsp;&nbsp; 3867 | &nbsp;&nbsp;&nbsp; 384 | &nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp; (2396)<br>| &nbsp;&nbsp; (217)<br>| &nbsp;&nbsp;&nbsp; 40424 | &nbsp;&nbsp; 3685 |
| Class 529-F-3 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>|
| Total net increase (decrease) | &nbsp;&nbsp; $170714 | &nbsp;&nbsp; 15601 | &nbsp;&nbsp;&nbsp; $1339 | &nbsp;&nbsp; 122 | &nbsp;&nbsp;&nbsp; $(7982)<br>| &nbsp;&nbsp; (728)<br>| &nbsp;&nbsp;&nbsp; $164071 | &nbsp;&nbsp; 14995 |
| **For the period March 15, 2024**<sup>3</sup> **through October 31, 2024** | **For the period March 15, 2024**<sup>3</sup> **through October 31, 2024** | **For the period March 15, 2024**<sup>3</sup> **through October 31, 2024** | **For the period March 15, 2024**<sup>3</sup> **through October 31, 2024** | **For the period March 15, 2024**<sup>3</sup> **through October 31, 2024** | **For the period March 15, 2024**<sup>3</sup> **through October 31, 2024** | **For the period March 15, 2024**<sup>3</sup> **through October 31, 2024** | **For the period March 15, 2024**<sup>3</sup> **through October 31, 2024** | **For the period March 15, 2024**<sup>3</sup> **through October 31, 2024** |
| Class 529-A | &nbsp;&nbsp; $75913 | &nbsp;&nbsp; 7237 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(2059)<br>| &nbsp;&nbsp; (197)<br>| &nbsp;&nbsp;&nbsp; $73854 | &nbsp;&nbsp; 7040 |
| Class 529-C | &nbsp;&nbsp; 9178 | &nbsp;&nbsp; 876 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (316)<br>| &nbsp;&nbsp; (30)<br>| &nbsp;&nbsp;&nbsp; 8862 | &nbsp;&nbsp; 846 |
| Class 529-E | &nbsp;&nbsp; 1253 | &nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (29)<br>| &nbsp;&nbsp; (3)<br>| &nbsp;&nbsp;&nbsp; 1224 | &nbsp;&nbsp; 116 |
| Class 529-T | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; 1 |
| Class 529-F-1 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; 1 |
| Class 529-F-2 | &nbsp;&nbsp; 31730 | &nbsp;&nbsp; 3026 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (681)<br>| &nbsp;&nbsp; (64)<br>| &nbsp;&nbsp;&nbsp; 31049 | &nbsp;&nbsp; 2962 |
| Class 529-F-3 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; 1 |
| Total net increase (decrease) | &nbsp;&nbsp; $118104 | &nbsp;&nbsp; 11261 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(3085)<br>| &nbsp;&nbsp; (294)<br>| &nbsp;&nbsp;&nbsp; $115019 | &nbsp;&nbsp; 10967 |

---

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

---

| | |
|:---|:---|
| American Funds College Target Date Series | **30** |

---

------

**College 2039 Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <br>**Sales**<sup>1</sup> | <br>**Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** |
| Class 529-A | &nbsp;&nbsp; $158708 | &nbsp;&nbsp; 13677 | &nbsp;&nbsp;&nbsp; $27416 | &nbsp;&nbsp; 2376 | &nbsp;&nbsp;&nbsp; $(29639)<br>| &nbsp;&nbsp; (2559)<br>| &nbsp;&nbsp;&nbsp; $156485 | &nbsp;&nbsp; 13494 |
| Class 529-C | &nbsp;&nbsp; 18739 | &nbsp;&nbsp; 1631 | &nbsp;&nbsp;&nbsp; 2662 | &nbsp;&nbsp; 233 | &nbsp;&nbsp;&nbsp; (1936)<br>| &nbsp;&nbsp; (169)<br>| &nbsp;&nbsp;&nbsp; 19465 | &nbsp;&nbsp; 1695 |
| Class 529-E | &nbsp;&nbsp; 3933 | &nbsp;&nbsp; 338 | &nbsp;&nbsp;&nbsp; 509 | &nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp; (1200)<br>| &nbsp;&nbsp; (102)<br>| &nbsp;&nbsp;&nbsp; 3242 | &nbsp;&nbsp; 280 |
| Class 529-T | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>|
| Class 529-F-1 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>|
| Class 529-F-2 | &nbsp;&nbsp; 53893 | &nbsp;&nbsp; 4626 | &nbsp;&nbsp;&nbsp; 8924 | &nbsp;&nbsp; 771 | &nbsp;&nbsp;&nbsp; (11139)<br>| &nbsp;&nbsp; (955)<br>| &nbsp;&nbsp;&nbsp; 51678 | &nbsp;&nbsp; 4442 |
| Class 529-F-3 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp; 1 |
| Total net increase (decrease) | &nbsp;&nbsp; $235273 | &nbsp;&nbsp; 20272 | &nbsp;&nbsp;&nbsp; $39522 | &nbsp;&nbsp; 3425 | &nbsp;&nbsp;&nbsp; $(43914)<br>| &nbsp;&nbsp; (3785)<br>| &nbsp;&nbsp;&nbsp; $230881 | &nbsp;&nbsp; 19912 |
| **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** |
| Class 529-A | &nbsp;&nbsp; $291738 | &nbsp;&nbsp; 27296 | &nbsp;&nbsp;&nbsp; $8919 | &nbsp;&nbsp; 879 | &nbsp;&nbsp;&nbsp; $(40806)<br>| &nbsp;&nbsp; (3744)<br>| &nbsp;&nbsp;&nbsp; $259851 | &nbsp;&nbsp; 24431 |
| Class 529-C | &nbsp;&nbsp; 39419 | &nbsp;&nbsp; 3743 | &nbsp;&nbsp;&nbsp; 734 | &nbsp;&nbsp; 73 | &nbsp;&nbsp;&nbsp; (4651)<br>| &nbsp;&nbsp; (433)<br>| &nbsp;&nbsp;&nbsp; 35502 | &nbsp;&nbsp; 3383 |
| Class 529-E | &nbsp;&nbsp; 5946 | &nbsp;&nbsp; 557 | &nbsp;&nbsp;&nbsp; 168 | &nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp; (908)<br>| &nbsp;&nbsp; (83)<br>| &nbsp;&nbsp;&nbsp; 5206 | &nbsp;&nbsp; 491 |
| Class 529-T | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>|
| Class 529-F-1 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>|
| Class 529-F-2 | &nbsp;&nbsp; 96123 | &nbsp;&nbsp; 8945 | &nbsp;&nbsp;&nbsp; 2948 | &nbsp;&nbsp; 290 | &nbsp;&nbsp;&nbsp; (14905)<br>| &nbsp;&nbsp; (1349)<br>| &nbsp;&nbsp;&nbsp; 84166 | &nbsp;&nbsp; 7886 |
| Class 529-F-3 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp; — <br><sup>2</sup><br>|
| Total net increase (decrease) | &nbsp;&nbsp; $433229 | &nbsp;&nbsp; 40541 | &nbsp;&nbsp;&nbsp; $12774 | &nbsp;&nbsp; 1259 | &nbsp;&nbsp;&nbsp; $(61270)<br>| &nbsp;&nbsp; (5609)<br>| &nbsp;&nbsp;&nbsp; $384733 | &nbsp;&nbsp; 36191 |

---

**College 2036 Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <br>**Sales**<sup>1</sup> | <br>**Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** |
| Class 529-A | $210137 | 16266 | &nbsp;&nbsp;&nbsp; $107342 | 8452 | &nbsp;&nbsp;&nbsp; $(69835)<br>| (5408)<br>| &nbsp;&nbsp;&nbsp; $247644 | 19310 |
| Class 529-C | 10475 | 822 | &nbsp;&nbsp;&nbsp; 4924 | 392 | &nbsp;&nbsp;&nbsp; (14427)<br>| (1133)<br>| &nbsp;&nbsp;&nbsp; 972 | 81 |
| Class 529-E | 5944 | 461 | &nbsp;&nbsp;&nbsp; 2926 | 232 | &nbsp;&nbsp;&nbsp; (3345)<br>| (256)<br>| &nbsp;&nbsp;&nbsp; 5525 | 437 |
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>2</sup><br>|
| Class 529-F-1 |  |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>2</sup><br>|
| Class 529-F-2 | 63968 | 4963 | &nbsp;&nbsp;&nbsp; 24717 | 1949 | &nbsp;&nbsp;&nbsp; (16636)<br>| (1302)<br>| &nbsp;&nbsp;&nbsp; 72049 | 5610 |
| Class 529-F-3 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Total net increase (decrease) | $290524 | 22512 | &nbsp;&nbsp;&nbsp; $139911 | 11025 | &nbsp;&nbsp;&nbsp; $(104243)<br>| (8099)<br>| &nbsp;&nbsp;&nbsp; $326192 | 25438 |
| **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** |
| Class 529-A | $343052 | 27977 | &nbsp;&nbsp;&nbsp; $27783 | 2391 | &nbsp;&nbsp;&nbsp; $(108912)<br>| (8793)<br>| &nbsp;&nbsp;&nbsp; $261923 | 21575 |
| Class 529-C | 17738 | 1475 | &nbsp;&nbsp;&nbsp; 1064 | 93 | &nbsp;&nbsp;&nbsp; (22228)<br>| (1832)<br>| &nbsp;&nbsp;&nbsp; (3426)<br>| (264)<br>|
| Class 529-E | 10723 | 876 | &nbsp;&nbsp;&nbsp; 701 | 60 | &nbsp;&nbsp;&nbsp; (3009)<br>| (245)<br>| &nbsp;&nbsp;&nbsp; 8415 | 691 |
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Class 529-F-1 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Class 529-F-2 | 104607 | 8512 | &nbsp;&nbsp;&nbsp; 6365 | 549 | &nbsp;&nbsp;&nbsp; (23203)<br>| (1854)<br>| &nbsp;&nbsp;&nbsp; 87769 | 7207 |
| Class 529-F-3 | 10 | 1 | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; (30)<br>| (3)<br>| &nbsp;&nbsp;&nbsp; (20)<br>| (2)<br>|
| Total net increase (decrease) | $476130 | 38841 | &nbsp;&nbsp;&nbsp; $35913 | 3093 | &nbsp;&nbsp;&nbsp; $(157382)<br>| (12727)<br>| &nbsp;&nbsp;&nbsp; $354661 | 29207 |

---

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

---

| | |
|:---|:---|
| **31** | American Funds College Target Date Series |

---

------

**College 2033 Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <br>**Sales**<sup>1</sup> | <br>**Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** |
| Class 529-A | $223737 | 17598 | &nbsp;&nbsp;&nbsp; $102788 | 8249 | &nbsp;&nbsp;&nbsp; $(99280)<br>| (7813)<br>| &nbsp;&nbsp;&nbsp; $227245 | 18034 |
| Class 529-C | 11524 | 915 | &nbsp;&nbsp;&nbsp; 2372 | 192 | &nbsp;&nbsp;&nbsp; (15401)<br>| (1225)<br>| &nbsp;&nbsp;&nbsp; (1505)<br>| (118)<br>|
| Class 529-E | 5459 | 432 | &nbsp;&nbsp;&nbsp; 2825 | 228 | &nbsp;&nbsp;&nbsp; (3532)<br>| (279)<br>| &nbsp;&nbsp;&nbsp; 4752 | 381 |
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>2</sup><br>|
| Class 529-F-1 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Class 529-F-2 | 72854 | 5734 | &nbsp;&nbsp;&nbsp; 19223 | 1545 | &nbsp;&nbsp;&nbsp; (16510)<br>| (1301)<br>| &nbsp;&nbsp;&nbsp; 75567 | 5978 |
| Class 529-F-3 | 70 | 5 | &nbsp;&nbsp;&nbsp; 6 | 1 | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 76 | 6 |
| Total net increase (decrease) | $313644 | 24684 | &nbsp;&nbsp;&nbsp; $127215 | 10215 | &nbsp;&nbsp;&nbsp; $(134723)<br>| (10618)<br>| &nbsp;&nbsp;&nbsp; $306136 | 24281 |
| **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** |
| Class 529-A | $380596 | 31369 | &nbsp;&nbsp;&nbsp; $55267 | 4768 | &nbsp;&nbsp;&nbsp; $(164275)<br>| (13496)<br>| &nbsp;&nbsp;&nbsp; $271588 | 22641 |
| Class 529-C | 18619 | 1547 | &nbsp;&nbsp;&nbsp; 1322 | 115 | &nbsp;&nbsp;&nbsp; (27067)<br>| (2259)<br>| &nbsp;&nbsp;&nbsp; (7126)<br>| (597)<br>|
| Class 529-E | 10985 | 916 | &nbsp;&nbsp;&nbsp; 1536 | 134 | &nbsp;&nbsp;&nbsp; (6542)<br>| (542)<br>| &nbsp;&nbsp;&nbsp; 5979 | 508 |
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Class 529-F-1 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Class 529-F-2 | 111042 | 9124 | &nbsp;&nbsp;&nbsp; 9598 | 830 | &nbsp;&nbsp;&nbsp; (33869)<br>| (2757)<br>| &nbsp;&nbsp;&nbsp; 86771 | 7197 |
| Class 529-F-3 | 21 | 2 | &nbsp;&nbsp;&nbsp; 17 | 1 | &nbsp;&nbsp;&nbsp; (613)<br>| (48)<br>| &nbsp;&nbsp;&nbsp; (575)<br>| (45)<br>|
| Total net increase (decrease) | $521263 | 42958 | &nbsp;&nbsp;&nbsp; $67740 | 5848 | &nbsp;&nbsp;&nbsp; $(232366)<br>| (19102)<br>| &nbsp;&nbsp;&nbsp; $356637 | 29704 |

---

**College 2030 Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <br>**Sales**<sup>1</sup> | <br>**Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** |
| Class 529-A | $252909 | 18949 | &nbsp;&nbsp;&nbsp; $128796 | 9885 | &nbsp;&nbsp;&nbsp; $(142418)<br>| (10662)<br>| &nbsp;&nbsp;&nbsp; $239287 | 18172 |
| Class 529-C | 19145 | 1453 | &nbsp;&nbsp;&nbsp; 3685 | 286 | &nbsp;&nbsp;&nbsp; (21449)<br>| (1629)<br>| &nbsp;&nbsp;&nbsp; 1381 | 110 |
| Class 529-E | 7456 | 564 | &nbsp;&nbsp;&nbsp; 3735 | 289 | &nbsp;&nbsp;&nbsp; (7661)<br>| (578)<br>| &nbsp;&nbsp;&nbsp; 3530 | 275 |
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>2</sup><br>|
| Class 529-F-1 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Class 529-F-2 | 81562 | 6112 | &nbsp;&nbsp;&nbsp; 22769 | 1749 | &nbsp;&nbsp;&nbsp; (24832)<br>| (1859)<br>| &nbsp;&nbsp;&nbsp; 79499 | 6002 |
| Class 529-F-3 | 3 |  | &nbsp;&nbsp;&nbsp; 12 | 1 | &nbsp;&nbsp;&nbsp; (131)<br>| (9)<br>| &nbsp;&nbsp;&nbsp; (116)<br>| (8)<br>|
| Total net increase (decrease) | $361075 | 27078 | &nbsp;&nbsp;&nbsp; $158998 | 12210 | &nbsp;&nbsp;&nbsp; $(196491)<br>| (14737)<br>| &nbsp;&nbsp;&nbsp; $323582 | 24551 |
| **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** |
| Class 529-A | $435405 | 33661 | &nbsp;&nbsp;&nbsp; $86067 | 6885 | &nbsp;&nbsp;&nbsp; $(241477)<br>| (18625)<br>| &nbsp;&nbsp;&nbsp; $279995 | 21921 |
| Class 529-C | 32433 | 2536 | &nbsp;&nbsp;&nbsp; 2469 | 199 | &nbsp;&nbsp;&nbsp; (37794)<br>| (2971)<br>| &nbsp;&nbsp;&nbsp; (2892)<br>| (236)<br>|
| Class 529-E | 13557 | 1057 | &nbsp;&nbsp;&nbsp; 2544 | 205 | &nbsp;&nbsp;&nbsp; (8478)<br>| (658)<br>| &nbsp;&nbsp;&nbsp; 7623 | 604 |
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Class 529-F-1 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Class 529-F-2 | 117285 | 9041 | &nbsp;&nbsp;&nbsp; 13756 | 1103 | &nbsp;&nbsp;&nbsp; (35583)<br>| (2734)<br>| &nbsp;&nbsp;&nbsp; 95458 | 7410 |
| Class 529-F-3 | 42 | 3 | &nbsp;&nbsp;&nbsp; 29 | 3 | &nbsp;&nbsp;&nbsp; (710)<br>| (54)<br>| &nbsp;&nbsp;&nbsp; (639)<br>| (48)<br>|
| Total net increase (decrease) | $598722 | 46298 | &nbsp;&nbsp;&nbsp; $104865 | 8395 | &nbsp;&nbsp;&nbsp; $(324042)<br>| (25042)<br>| &nbsp;&nbsp;&nbsp; $379545 | 29651 |

---

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

---

| | |
|:---|:---|
| American Funds College Target Date Series | **32** |

---

------

**College 2027 Fund** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <br>**Sales**<sup>1</sup> | <br>**Sales**<sup>1</sup> | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases**<sup>1</sup> | **Repurchases**<sup>1</sup> | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** |
| Class 529-A | $222817 | 18377 | &nbsp;&nbsp;&nbsp; $99915 | 8439 | &nbsp;&nbsp;&nbsp; $(168120)<br>| (13880)<br>| &nbsp;&nbsp;&nbsp; $154612 | 12936 |
| Class 529-C | 28051 | 2343 | &nbsp;&nbsp;&nbsp; 4793 | 408 | &nbsp;&nbsp;&nbsp; (26910)<br>| (2249)<br>| &nbsp;&nbsp;&nbsp; 5934 | 502 |
| Class 529-E | 8784 | 730 | &nbsp;&nbsp;&nbsp; 3135 | 267 | &nbsp;&nbsp;&nbsp; (7363)<br>| (610)<br>| &nbsp;&nbsp;&nbsp; 4556 | 387 |
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>2</sup><br>|
| Class 529-F-1 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Class 529-F-2 | 73376 | 6051 | &nbsp;&nbsp;&nbsp; 20475 | 1732 | &nbsp;&nbsp;&nbsp; (31236)<br>| (2579)<br>| &nbsp;&nbsp;&nbsp; 62615 | 5204 |
| Class 529-F-3 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Total net increase (decrease) | $333028 | 27501 | &nbsp;&nbsp;&nbsp; $128319 | 10846 | &nbsp;&nbsp;&nbsp; $(233629)<br>| (19318)<br>| &nbsp;&nbsp;&nbsp; $227718 | 19029 |
| **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** |
| Class 529-A | $417563 | 35138 | &nbsp;&nbsp;&nbsp; $75905 | 6544 | &nbsp;&nbsp;&nbsp; $(279737)<br>| (23485)<br>| &nbsp;&nbsp;&nbsp; $213731 | 18197 |
| Class 529-C | 49504 | 4218 | &nbsp;&nbsp;&nbsp; 3544 | 308 | &nbsp;&nbsp;&nbsp; (45714)<br>| (3892)<br>| &nbsp;&nbsp;&nbsp; 7334 | 634 |
| Class 529-E | 15039 | 1273 | &nbsp;&nbsp;&nbsp; 2327 | 203 | &nbsp;&nbsp;&nbsp; (8629)<br>| (730)<br>| &nbsp;&nbsp;&nbsp; 8737 | 746 |
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Class 529-F-1 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Class 529-F-2 | 120085 | 10100 | &nbsp;&nbsp;&nbsp; 14030 | 1211 | &nbsp;&nbsp;&nbsp; (51824)<br>| (4357)<br>| &nbsp;&nbsp;&nbsp; 82291 | 6954 |
| Class 529-F-3 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>2</sup><br>| — <br><sup>2</sup><br>|
| Total net increase (decrease) | $602191 | 50729 | &nbsp;&nbsp;&nbsp; $95806 | 8266 | &nbsp;&nbsp;&nbsp; $(385904)<br>| (32464)<br>| &nbsp;&nbsp;&nbsp; $312093 | 26531 |

---

**College Enrollment Fund** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | <br>**Sales** | <br>**Sales** | **Issued in connection** <br> **with** <br>**the merger of** <br>**College 2024 Fund** | **Issued in connection** <br> **with** <br>**the merger of** <br>**College 2024 Fund** | **Reinvestments of** <br>**distributions** | **Reinvestments of** <br>**distributions** | **Repurchases** | **Repurchases** | **Net increase** <br>**(decrease)** | **Net increase** <br>**(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** | **Six months ended April 30, 2025** |
| Class 529-A | $202116 | 21468 |  |  | $99997 | 10846 | $(496146)<br>| (52766)<br>| $(194033)<br>| (20452)<br>|
| Class 529-C | 24375 | 2561 |  |  | 4789 | 512 | (58995)<br>| (6201)<br>| (29831)<br>| (3128)<br>|
| Class 529-E | 8479 | 902 |  |  | 3411 | 370 | (23430)<br>| (2491)<br>| (11540)<br>| (1219)<br>|
| Class 529-T |  |  |  |  |  |  |  |  |  |  |
| Class 529-F-1 |  |  |  |  |  |  |  |  |  |  |
| Class 529-F-2 | 61223 | 6509 |  |  | 20230 | 2199 | (92967)<br>| (9895)<br>| (11514)<br>| (1187)<br>|
| Class 529-F-3 |  |  |  |  | 6 | 1 | (22)<br>| (2)<br>| (16)<br>| (1)<br>|
| Total net increase (decrease) | $296193 | 31440 |  |  | $128433 | 13928 | $(671560)<br>| (71355)<br>| $(246934)<br>| (25987)<br>|
| **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** | **Year ended October 31, 2024** |
| Class 529-A | $466871 | 36277 | $2168000 | 235645 | $44740 | 4916 | $(862973)<br>| (92430)<br>| $1816638 | 184408 |
| Class 529-C | 47381 | 3879 | 181025 | 19450 | 1887 | 205 | (105870)<br>| (11247)<br>| 124423 | 12287 |
| Class 529-E | 16142 | 1218 | 80510 | 8758 | 1665 | 183 | (35597)<br>| (3818)<br>| 62720 | 6341 |
| Class 529-T | 1 | — <br><sup>3</sup><br>| 12 | 1 | — <br><sup>3</sup><br>| — <br><sup>3</sup><br>| (12)<br>| (1)<br>| 1 | — <br><sup>3</sup><br>|
| Class 529-F-1 | 1 | — <br><sup>3</sup><br>| 10 | 1 | — <br><sup>3</sup><br>| — <br><sup>3</sup><br>| (10)<br>| (1)<br>| 1 | — <br><sup>3</sup><br>|
| Class 529-F-2 | 118179 | 10276 | 381705 | 41559 | 8263 | 911 | (147074)<br>| (15761)<br>| 361073 | 36985 |
| Class 529-F-3 | 24 | — <br><sup>3</sup><br>| 404 | 44 | — <br><sup>3</sup><br>| — <br><sup>3</sup><br>| (263)<br>| (28)<br>| 165 | 16 |
| Total net increase (decrease) | $648599 | 51650 | $2811666 | 305458 | $56555 | 6215 | $(1151799)<br>| (123286)<br>| $2365021 | 240037 |

---

<sup>1</sup>

Includes exchanges between share classes of the fund.

<sup>2</sup>

Amount less than one thousand.

<sup>3</sup>

Commencement of operations.

---

| | |
|:---|:---|
| **33** | American Funds College Target Date Series |

---

------

Financial highlights

**College 2042 Fund**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Net assets,** <br>**end of year** <br>**(in millions)** |
| <br>**Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Net assets,** <br>**end of year** <br>**(in millions)** |
| **Class 529-A:** | **Class 529-A:** | **Class 529-A:** | **Class 529-A:** | **Class 529-A:** | **Class 529-A:** | **Class 529-A:** | **Class 529-A:** | **Class 529-A:** | **Class 529-A:** |
| 4/30/2025<sup>5,6</sup> <br>| $10.81 | $.06 | $(.07)<br>| $(.01)<br>| $(.07)<br>| $(.02)<br>| $(.09)<br>| $10.71<br>(0.13 )%<sup>7</sup><br>| $181 %<sup>8</sup> %<sup>8</sup><br>1.17 %<sup>8</sup><br>|
| 10/31/2024<sup>5,9</sup> <br>| 10.00 | .03 | .78 | .81 |  |  |  | 10.81<br>8.10 <br><sup>7</sup><br>| 76 <br><sup>8</sup> <br><sup>8</sup> <br><sup>8</sup><br>|
| **Class 529-C:** | **Class 529-C:** | **Class 529-C:** | **Class 529-C:** | **Class 529-C:** | **Class 529-C:** | **Class 529-C:** | **Class 529-C:** | **Class 529-C:** | **Class 529-C:** |
| 4/30/2025<sup>5,6</sup> <br>| 10.76 | .02 | (.06)<br>| (.04)<br>| (.04)<br>| (.02)<br>| (.06)<br>| 10.66<br>(0.37 )<sup>7</sup><br>| 22<br>1.18 <br><sup>8</sup><br>1.57 <br><sup>8</sup> <br><sup>8</sup><br>|
| 10/31/2024<sup>5,9</sup> <br>| 10.00 | (.01)<br>| .77 | .76 |  |  |  | 10.76<br>7.60 <br><sup>7</sup><br>| 9<br>1.17 <br><sup>8</sup><br>1.56 <br><sup>8</sup><br>(.23 )<sup>8</sup><br>|
| **Class 529-E:** | **Class 529-E:** | **Class 529-E:** | **Class 529-E:** | **Class 529-E:** | **Class 529-E:** | **Class 529-E:** | **Class 529-E:** | **Class 529-E:** | **Class 529-E:** |
| 4/30/2025<sup>5,6</sup> <br>| 10.80 | .05 | (.06)<br>| (.01)<br>| (.07)<br>| (.02)<br>| (.09)<br>| 10.70<br>(0.15 )<sup>7</sup><br>| 4 <br><sup>8</sup><br>1.03 <br><sup>8</sup> <br><sup>8</sup><br>|
| 10/31/2024<sup>5,9</sup> <br>| 10.00 | .02 | .78 | .80 |  |  |  | 10.80<br>8.00 <br><sup>7</sup><br>| 2 <br><sup>8</sup> <br><sup>8</sup> <br><sup>8</sup><br>|
| **Class 529-T:** | **Class 529-T:** | **Class 529-T:** | **Class 529-T:** | **Class 529-T:** | **Class 529-T:** | **Class 529-T:** | **Class 529-T:** | **Class 529-T:** | **Class 529-T:** |
| 4/30/2025<sup>5,6</sup> <br>| 10.83 | .09 | (.08)<br>| .01 | (.07)<br>| (.02)<br>| (.09)<br>| 10.75<br>0.08 <br><sup>710</sup><br>| — <br><sup>11</sup> <br><sup>810</sup> <br><sup>810</sup><br>1.64 <br><sup>810</sup><br>|
| 10/31/2024<sup>5,9</sup> <br>| 10.00 | .05 | .78 | .83 |  |  |  | 10.83<br>8.30 <br><sup>710</sup><br>| — <br><sup>11</sup> <br><sup>810</sup> <br><sup>810</sup> <br><sup>810</sup><br>|
| **Class 529-F-1:** | **Class 529-F-1:** | **Class 529-F-1:** | **Class 529-F-1:** | **Class 529-F-1:** | **Class 529-F-1:** | **Class 529-F-1:** | **Class 529-F-1:** | **Class 529-F-1:** | **Class 529-F-1:** |
| 4/30/2025<sup>5,6</sup> <br>| 10.82 | .09 | (.07)<br>| .02 | (.07)<br>| (.02)<br>| (.09)<br>| 10.75<br>0.15 <br><sup>710</sup><br>| — <br><sup>11</sup> <br><sup>810</sup> <br><sup>810</sup><br>1.61 <br><sup>810</sup><br>|
| 10/31/2024<sup>5,9</sup> <br>| 10.00 | .04 | .78 | .82 |  |  |  | 10.82<br>8.20 <br><sup>710</sup><br>| — <br><sup>11</sup> <br><sup>810</sup> <br><sup>810</sup> <br><sup>810</sup><br>|
| **Class 529-F-2:** | **Class 529-F-2:** | **Class 529-F-2:** | **Class 529-F-2:** | **Class 529-F-2:** | **Class 529-F-2:** | **Class 529-F-2:** | **Class 529-F-2:** | **Class 529-F-2:** | **Class 529-F-2:** |
| 4/30/2025<sup>5,6</sup> <br>| 10.83 | .08 | (.07)<br>| .01 | (.08)<br>| (.02)<br>| (.10)<br>| 10.74<br>0.08 <br><sup>7</sup><br>| 71 <br><sup>8</sup> <br><sup>8</sup><br>1.48 <br><sup>8</sup><br>|
| 10/31/2024<sup>5,9</sup> <br>| 10.00 | .06 | .77 | .83 |  |  |  | 10.83<br>8.30 <br><sup>7</sup><br>| 32 <br><sup>8</sup> <br><sup>8</sup> <br><sup>8</sup><br>|
| **Class 529-F-3:** | **Class 529-F-3:** | **Class 529-F-3:** | **Class 529-F-3:** | **Class 529-F-3:** | **Class 529-F-3:** | **Class 529-F-3:** | **Class 529-F-3:** | **Class 529-F-3:** | **Class 529-F-3:** |
| 4/30/2025<sup>5,6</sup> <br>| 10.83 | .09 | (.07)<br>| .02 | (.08)<br>| (.02)<br>| (.10)<br>| 10.75<br>0.16 <br><sup>7</sup><br>| — <br><sup>11</sup> <br><sup>8</sup> <br><sup>8</sup><br>1.74 <br><sup>8</sup><br>|
| 10/31/2024<sup>5,9</sup> <br>| 10.00 | .05 | .78 | .83 |  |  |  | 10.83<br>8.30 <br><sup>7</sup><br>| — <br><sup>11</sup> <br><sup>8</sup> <br><sup>8</sup> <br><sup>8</sup><br>|

---

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

---

| | |
|:---|:---|
| American Funds College Target Date Series | **34** |

---

------

Financial highlights (continued)

**College 2039 Fund**

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2,12</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)**  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,12</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>4,12</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>12</sup>  |
| <br>**Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2,12</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)**  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,12</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>4,12</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>12</sup>  |
| **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  |
| 4/30/2025<sup>5,6</sup> <br>| $11.64 | $.11 | $(.07)<br>| $.04 | $(.14)<br>| $(.21)<br>| $(.35)<br>| $11.33 | .35 %<sup>7</sup><br>| $987 | .41 %<sup>8</sup><br>| .41 %<sup>8</sup><br>| .78 %<sup>8</sup><br>| 1.90 %<sup>8</sup><br>|
| 10/31/2024 | 9.03 | .15 | 2.63 | 2.78 | (.12)<br>| (.05)<br>| (.17)<br>| 11.64 | 31.02 | 857 | .47 | .47 | .84 | 1.36 |
| 10/31/2023 | 8.46 | .10 | .68 | .78 | (.07)<br>| (.14)<br>| (.21)<br>| 9.03 | 9.44 | 444 | .49 | .49 | .87 | 1.05 |
| 10/31/2022 | 11.04 | .07 | (2.60)<br>| (2.53)<br>| (.04)<br>| (.01)<br>| (.05)<br>| 8.46 | (23.02)<br>| 202 | .48 | .48 | .85 | .78 |
| 10/31/2021<sup>5,13</sup> <br>| 10.00 | .03 | 1.01 | 1.04 |  |  |  | 11.04 | 10.40 <br><sup>7</sup><br>| 53 | .47 <br><sup>8</sup><br>| .47 <br><sup>8</sup><br>| .87 <br><sup>8</sup><br>| .45 <br><sup>8</sup><br>|
| **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  |
| 4/30/2025<sup>5,6</sup> <br>| 11.48 | .06 | (.07)<br>| (.01)<br>| (.07)<br>| (.21)<br>| (.28)<br>| 11.19 | (.07 )<sup>7</sup><br>| 117 | 1.17 <br><sup>8</sup><br>| 1.17 <br><sup>8</sup><br>| 1.54 <br><sup>8</sup><br>| 1.13 <br><sup>8</sup><br>|
| 10/31/2024 | 8.93 | .07 | 2.60 | 2.67 | (.07)<br>| (.05)<br>| (.12)<br>| 11.48 | 30.10 | 101 | 1.18 | 1.18 | 1.55 | .62 |
| 10/31/2023 | 8.39 | .03 | .68 | .71 | (.03)<br>| (.14)<br>| (.17)<br>| 8.93 | 8.66 | 48 | 1.19 | 1.19 | 1.57 | .33 |
| 10/31/2022 | 11.01 | .01 | (2.59)<br>| (2.58)<br>| (.03)<br>| (.01)<br>| (.04)<br>| 8.39 | (23.55)<br>| 19 | 1.18 | 1.18 | 1.55 | .06 |
| 10/31/2021<sup>5,13</sup> <br>| 10.00 | (.02)<br>| 1.03 | 1.01 |  |  |  | 11.01 | 10.10 <br><sup>7</sup><br>| 4 | 1.16 <br><sup>8</sup><br>| 1.16 <br><sup>8</sup><br>| 1.56 <br><sup>8</sup><br>| (.35 )<sup>8</sup><br>|
| **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  |
| 4/30/2025<sup>5,6</sup> <br>| 11.60 | .09 | (.06)<br>| .03 | (.12)<br>| (.21)<br>| (.33)<br>| 11.30 | .27 <br><sup>7</sup><br>| 20 | .64 <br><sup>8</sup><br>| .64 <br><sup>8</sup><br>| 1.01 <br><sup>8</sup><br>| 1.65 <br><sup>8</sup><br>|
| 10/31/2024 | 9.01 | .13 | 2.62 | 2.75 | (.11)<br>| (.05)<br>| (.16)<br>| 11.60 | 30.73 | 17 | .64 | .64 | 1.01 | 1.18 |
| 10/31/2023 | 8.45 | .08 | .68 | .76 | (.06)<br>| (.14)<br>| (.20)<br>| 9.01 | 9.23 | 9 | .65 | .65 | 1.03 | .89 |
| 10/31/2022 | 11.04 | .06 | (2.60)<br>| (2.54)<br>| (.04)<br>| (.01)<br>| (.05)<br>| 8.45 | (23.16)<br>| 4 | .64 | .64 | 1.01 | .61 |
| 10/31/2021<sup>5,13</sup> <br>| 10.00 | .02 | 1.02 | 1.04 |  |  |  | 11.04 | 10.40 <br><sup>7</sup><br>| 1 | .60 <br><sup>8</sup><br>| .60 <br><sup>8</sup><br>| 1.00 <br><sup>8</sup><br>| .35 <br><sup>8</sup><br>|
| **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  |
| 4/30/2025<sup>5,6</sup> <br>| 11.72 | .12 | (.06)<br>| .06 | (.17)<br>| (.21)<br>| (.38)<br>| 11.40 | .46 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .18 <br><sup>810</sup><br>| .18 <br><sup>810</sup><br>| .55 <br><sup>810</sup><br>| 2.16 <br><sup>810</sup><br>|
| 10/31/2024 | 9.09 | .19 | 2.63 | 2.82 | (.14)<br>| (.05)<br>| (.19)<br>| 11.72 | 31.28 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .19 <br><sup>10</sup><br>| .19 <br><sup>10</sup><br>| .56 <br><sup>10</sup><br>| 1.72 <br><sup>10</sup><br>|
| 10/31/2023 | 8.50 | .13 | .69 | .82 | (.09)<br>| (.14)<br>| (.23)<br>| 9.09 | 9.81 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .18 <br><sup>10</sup><br>| .18 <br><sup>10</sup><br>| .56 <br><sup>10</sup><br>| 1.44 <br><sup>10</sup><br>|
| 10/31/2022 | 11.05 | .11 | (2.61)<br>| (2.50)<br>| (.04)<br>| (.01)<br>| (.05)<br>| 8.50 | (22.74 )<sup>10</sup><br>| — <br><sup>11</sup><br>| .17 <br><sup>10</sup><br>| .17 <br><sup>10</sup><br>| .54 <br><sup>10</sup><br>| 1.19 <br><sup>10</sup><br>|
| 10/31/2021<sup>5,13</sup> <br>| 10.00 | .05 | 1.00 | 1.05 |  |  |  | 11.05 | 10.50 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .21 <br><sup>810</sup><br>| .20 <br><sup>810</sup><br>| .60 <br><sup>810</sup><br>| .72 <br><sup>810</sup><br>|
| **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  |
| 4/30/2025<sup>5,6</sup> <br>| 11.72 | .12 | (.07)<br>| .05 | (.16)<br>| (.21)<br>| (.37)<br>| 11.40 | .43 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .21 <br><sup>810</sup><br>| .21 <br><sup>810</sup><br>| .58 <br><sup>810</sup><br>| 2.12 <br><sup>810</sup><br>|
| 10/31/2024 | 9.09 | .18 | 2.63 | 2.81 | (.13)<br>| (.05)<br>| (.18)<br>| 11.72 | 31.26 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .22 <br><sup>10</sup><br>| .59 <br><sup>10</sup><br>| 1.69 <br><sup>10</sup><br>|
| 10/31/2023 | 8.50 | .13 | .68 | .81 | (.08)<br>| (.14)<br>| (.22)<br>| 9.09 | 9.77 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .20 <br><sup>10</sup><br>| .58 <br><sup>10</sup><br>| 1.42 <br><sup>10</sup><br>|
| 10/31/2022 | 11.05 | .11 | (2.61)<br>| (2.50)<br>| (.04)<br>| (.01)<br>| (.05)<br>| 8.50 | (22.78 )<sup>10</sup><br>| — <br><sup>11</sup><br>| .21 <br><sup>10</sup><br>| .21 <br><sup>10</sup><br>| .58 <br><sup>10</sup><br>| 1.15 <br><sup>10</sup><br>|
| 10/31/2021<sup>5,13</sup> <br>| 10.00 | .04 | 1.01 | 1.05 |  |  |  | 11.05 | 10.50 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .28 <br><sup>810</sup><br>| .27 <br><sup>810</sup><br>| .67 <br><sup>810</sup><br>| .65 <br><sup>810</sup><br>|
| **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  |
| 4/30/2025<sup>5,6</sup> <br>| 11.71 | .12 | (.07)<br>| .05 | (.17)<br>| (.21)<br>| (.38)<br>| 11.38 | .43 <br><sup>7</sup><br>| 300 | .14 <br><sup>8</sup><br>| .14 <br><sup>8</sup><br>| .51 <br><sup>8</sup><br>| 2.16 <br><sup>8</sup><br>|
| 10/31/2024 | 9.08 | .18 | 2.64 | 2.82 | (.14)<br>| (.05)<br>| (.19)<br>| 11.71 | 31.39 | 256 | .15 | .15 | .52 | 1.67 |
| 10/31/2023 | 8.50 | .13 | .68 | .81 | (.09)<br>| (.14)<br>| (.23)<br>| 9.08 | 9.77 | 128 | .15 | .15 | .53 | 1.38 |
| 10/31/2022 | 11.06 | .10 | (2.60)<br>| (2.50)<br>| (.05)<br>| (.01)<br>| (.06)<br>| 8.50 | (22.73)<br>| 54 | .15 | .15 | .52 | 1.11 |
| 10/31/2021<sup>5,13</sup> <br>| 10.00 | .05 | 1.01 | 1.06 |  |  |  | 11.06 | 10.60 <br><sup>7</sup><br>| 11 | .16 <br><sup>8</sup><br>| .16 <br><sup>8</sup><br>| .56 <br><sup>8</sup><br>| .72 <br><sup>8</sup><br>|
| **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  |
| 4/30/2025<sup>5,6</sup> <br>| 11.73 | .13 | (.07)<br>| .06 | (.18)<br>| (.21)<br>| (.39)<br>| 11.40 | .48 <br><sup>7</sup><br>| — <br><sup>11</sup><br>| .08 <br><sup>8</sup><br>| .08 <br><sup>8</sup><br>| .45 <br><sup>8</sup><br>| 2.26 <br><sup>8</sup><br>|
| 10/31/2024 | 9.09 | .20 | 2.64 | 2.84 | (.15)<br>| (.05)<br>| (.20)<br>| 11.73 | 31.54 | — <br><sup>11</sup><br>| .07 | .07 | .44 | 1.83 |
| 10/31/2023 | 8.51 | .14 | .67 | .81 | (.09)<br>| (.14)<br>| (.23)<br>| 9.09 | 9.79 | — <br><sup>11</sup><br>| .07 | .07 | .45 | 1.45 |
| 10/31/2022 | 11.06 | .12 | (2.61)<br>| (2.49)<br>| (.05)<br>| (.01)<br>| (.06)<br>| 8.51 | (22.65)<br>| — <br><sup>11</sup><br>| .07 | .07 | .44 | 1.29 |
| 10/31/2021<sup>5,13</sup> <br>| 10.00 | .05 | 1.01 | 1.06 |  |  |  | 11.06 | 10.60 <br><sup>7</sup><br>| — <br><sup>11</sup><br>| .07 <br><sup>8</sup><br>| .07 <br><sup>8</sup><br>| .47 <br><sup>8</sup><br>| .84 <br><sup>8</sup><br>|

---

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

---

| | |
|:---|:---|
| **35** | American Funds College Target Date Series |

---

------

Financial highlights (continued)

**College 2036 Fund**

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2,12</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)**  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,12</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>4,12</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>12</sup>  |
| <br>**Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2,12</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)**  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,12</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>4,12</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>12</sup>  |
| **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  |
| 4/30/2025<sup>5,6</sup> <br>| $13.18 | $.16 | $(.03)<br>| $.13 | $(.26)<br>| $(.42)<br>| $(.68)<br>| $12.63 | .98 %<sup>7</sup><br>| $2187 | .41 %<sup>8</sup><br>| .41 %<sup>8</sup><br>| .74 %<sup>8</sup><br>| 2.55 %<sup>8</sup><br>|
| 10/31/2024 | 10.48 | .27 | 2.63 | 2.90 | (.20)<br>|  | (.20)<br>| 13.18 | 27.98 | 2026 | .42 | .42 | .76 | 2.20 |
| 10/31/2023 | 10.14 | .18 | .63 | .81 | (.14)<br>| (.33)<br>| (.47)<br>| 10.48 | 8.18 | 1386 | .44 | .44 | .79 | 1.69 |
| 10/31/2022 | 13.77 | .13 | (2.76)<br>| (2.63)<br>| (.10)<br>| (.90)<br>| (1.00)<br>| 10.14 | (20.54)<br>| 1073 | .43 | .43 | .78 | 1.18 |
| 10/31/2021 | 11.22 | .11 | 2.97 | 3.08 | (.14)<br>| (.39)<br>| (.53)<br>| 13.77 | 28.16 | 1061 | .44 | .44 | .81 | .83 |
| 10/31/2020 | 10.68 | .12 | .71 | .83 | (.14)<br>| (.15)<br>| (.29)<br>| 11.22 | 7.80 | 552 | .48 | .48 | .85 | 1.15 |
| **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.95 | .11 | (.03)<br>| .08 | (.16)<br>| (.42)<br>| (.58)<br>| 12.45 | .60 <br><sup>7</sup><br>| 107 | 1.17 <br><sup>8</sup><br>| 1.17 <br><sup>8</sup><br>| 1.50 <br><sup>8</sup><br>| 1.81 <br><sup>8</sup><br>|
| 10/31/2024 | 10.31 | .18 | 2.58 | 2.76 | (.12)<br>|  | (.12)<br>| 12.95 | 26.93 | 111 | 1.17 | 1.17 | 1.51 | 1.47 |
| 10/31/2023 | 9.97 | .10 | .63 | .73 | (.06)<br>| (.33)<br>| (.39)<br>| 10.31 | 7.48 | 91 | 1.19 | 1.19 | 1.54 | .94 |
| 10/31/2022 | 13.58 | .05 | (2.73)<br>| (2.68)<br>| (.03)<br>| (.90)<br>| (.93)<br>| 9.97 | (21.17)<br>| 80 | 1.18 | 1.18 | 1.53 | .43 |
| 10/31/2021 | 11.10 | .01 | 2.95 | 2.96 | (.09)<br>| (.39)<br>| (.48)<br>| 13.58 | 27.22 | 85 | 1.17 | 1.17 | 1.54 | .09 |
| 10/31/2020 | 10.59 | .05 | .70 | .75 | (.09)<br>| (.15)<br>| (.24)<br>| 11.10 | 7.12 | 36 | 1.18 | 1.18 | 1.55 | .48 |
| **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  |
| 4/30/2025<sup>5,6</sup> <br>| 13.12 | .15 | (.02)<br>| .13 | (.24)<br>| (.42)<br>| (.66)<br>| 12.59 | .93 <br><sup>7</sup><br>| 62 | .64 <br><sup>8</sup><br>| .64 <br><sup>8</sup><br>| .97 <br><sup>8</sup><br>| 2.32 <br><sup>8</sup><br>|
| 10/31/2024 | 10.45 | .24 | 2.61 | 2.85 | (.18)<br>|  | (.18)<br>| 13.12 | 27.54 | 58 | .64 | .64 | .98 | 1.98 |
| 10/31/2023 | 10.11 | .16 | .63 | .79 | (.12)<br>| (.33)<br>| (.45)<br>| 10.45 | 7.98 | 39 | .65 | .65 | 1.00 | 1.48 |
| 10/31/2022 | 13.73 | .11 | (2.75)<br>| (2.64)<br>| (.08)<br>| (.90)<br>| (.98)<br>| 10.11 | (20.66)<br>| 30 | .64 | .64 | .99 | .96 |
| 10/31/2021 | 11.20 | .08 | 2.96 | 3.04 | (.12)<br>| (.39)<br>| (.51)<br>| 13.73 | 27.82 | 29 | .64 | .64 | 1.01 | .62 |
| 10/31/2020 | 10.67 | .11 | .70 | .81 | (.13)<br>| (.15)<br>| (.28)<br>| 11.20 | 7.60 | 15 | .65 | .65 | 1.02 | 1.00 |
| **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  |
| 4/30/2025<sup>5,6</sup> <br>| 13.31 | .18 | (.02)<br>| .16 | (.29)<br>| (.42)<br>| (.71)<br>| 12.76 | 1.19 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .17 <br><sup>810</sup><br>| .17 <br><sup>810</sup><br>| .50 <br><sup>810</sup><br>| 2.80 <br><sup>810</sup><br>|
| 10/31/2024 | 10.59 | .31 | 2.64 | 2.95 | (.23)<br>|  | (.23)<br>| 13.31 | 28.20 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .17 <br><sup>10</sup><br>| .17 <br><sup>10</sup><br>| .51 <br><sup>10</sup><br>| 2.47 <br><sup>10</sup><br>|
| 10/31/2023 | 10.23 | .22 | .63 | .85 | (.16)<br>| (.33)<br>| (.49)<br>| 10.59 | 8.56 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .13 <br><sup>10</sup><br>| .13 <br><sup>10</sup><br>| .48 <br><sup>10</sup><br>| 2.00 <br><sup>10</sup><br>|
| 10/31/2022 | 13.87 | .17 | (2.78)<br>| (2.61)<br>| (.13)<br>| (.90)<br>| (1.03)<br>| 10.23 | (20.31 )<sup>10</sup><br>| — <br><sup>11</sup><br>| .17 <br><sup>10</sup><br>| .17 <br><sup>10</sup><br>| .52 <br><sup>10</sup><br>| 1.44 <br><sup>10</sup><br>|
| 10/31/2021 | 11.29 | .14 | 2.99 | 3.13 | (.16)<br>| (.39)<br>| (.55)<br>| 13.87 | 28.42 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .20 <br><sup>10</sup><br>| .20 <br><sup>10</sup><br>| .57 <br><sup>10</sup><br>| 1.08 <br><sup>10</sup><br>|
| 10/31/2020 | 10.73 | .16 | .70 | .86 | (.15)<br>| (.15)<br>| (.30)<br>| 11.29 | 8.06 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .23 <br><sup>10</sup><br>| .23 <br><sup>10</sup><br>| .60 <br><sup>10</sup><br>| 1.50 <br><sup>10</sup><br>|
| **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  |
| 4/30/2025<sup>5,6</sup> <br>| 13.28 | .18 | (.02)<br>| .16 | (.29)<br>| (.42)<br>| (.71)<br>| 12.73 | 1.16 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .20 <br><sup>810</sup><br>| .20 <br><sup>810</sup><br>| .53 <br><sup>810</sup><br>| 2.77 <br><sup>810</sup><br>|
| 10/31/2024 | 10.57 | .30 | 2.64 | 2.94 | (.23)<br>|  | (.23)<br>| 13.28 | 28.11 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .21 <br><sup>10</sup><br>| .20 <br><sup>10</sup><br>| .54 <br><sup>10</sup><br>| 2.45 <br><sup>10</sup><br>|
| 10/31/2023 | 10.21 | .21 | .64 | .85 | (.16)<br>| (.33)<br>| (.49)<br>| 10.57 | 8.54 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .20 <br><sup>10</sup><br>| .17 <br><sup>10</sup><br>| .52 <br><sup>10</sup><br>| 1.96 <br><sup>10</sup><br>|
| 10/31/2022 | 13.85 | .16 | (2.78)<br>| (2.62)<br>| (.12)<br>| (.90)<br>| (1.02)<br>| 10.21 | (20.38 )<sup>10</sup><br>| — <br><sup>11</sup><br>| .21 <br><sup>10</sup><br>| .21 <br><sup>10</sup><br>| .56 <br><sup>10</sup><br>| 1.40 <br><sup>10</sup><br>|
| 10/31/2021 | 11.28 | .13 | 2.99 | 3.12 | (.16)<br>| (.39)<br>| (.55)<br>| 13.85 | 28.39 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .24 <br><sup>10</sup><br>| .24 <br><sup>10</sup><br>| .61 <br><sup>10</sup><br>| .99 <br><sup>10</sup><br>|
| 10/31/2020 | 10.72 | .16 | .71 | .87 | (.16)<br>| (.15)<br>| (.31)<br>| 11.28 | 8.17 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .18 <br><sup>10</sup><br>| .18 <br><sup>10</sup><br>| .55 <br><sup>10</sup><br>| 1.43 <br><sup>10</sup><br>|
| **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  |
| 4/30/2025<sup>5,6</sup> <br>| 13.18 | .18 | (.01)<br>| .17 | (.30)<br>| (.42)<br>| (.72)<br>| 12.63 | 1.24 <br><sup>7</sup><br>| 491 | .14 <br><sup>8</sup><br>| .14 <br><sup>8</sup><br>| .47 <br><sup>8</sup><br>| 2.83 <br><sup>8</sup><br>|
| 10/31/2024 | 10.49 | .31 | 2.62 | 2.93 | (.24)<br>|  | (.24)<br>| 13.18 | 28.19 | 439 | .14 | .14 | .48 | 2.47 |
| 10/31/2023 | 10.14 | .21 | .63 | .84 | (.16)<br>| (.33)<br>| (.49)<br>| 10.49 | 8.59 | 274 | .14 | .14 | .49 | 1.99 |
| 10/31/2022 | 13.77 | .16 | (2.75)<br>| (2.59)<br>| (.14)<br>| (.90)<br>| (1.04)<br>| 10.14 | (20.34)<br>| 196 | .15 | .15 | .50 | 1.45 |
| 10/31/2021 | 11.22 | .14 | 2.97 | 3.11 | (.17)<br>| (.39)<br>| (.56)<br>| 13.77 | 28.44 | 176 | .17 | .17 | .54 | 1.09 |
| 10/31/2020<sup>5,14</sup> <br>| 11.22 |  |  |  |  |  |  | 11.22 |  | 72 |  |  |  |  |
| **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  |
| 4/30/2025<sup>5,6</sup> <br>| 13.37 | .19 | (.03)<br>| .16 | (.30)<br>| (.42)<br>| (.72)<br>| 12.81 | 1.20 <br><sup>7</sup><br>| — <br><sup>11</sup><br>| .08 <br><sup>8</sup><br>| .08 <br><sup>8</sup><br>| .41 <br><sup>8</sup><br>| 2.90 <br><sup>8</sup><br>|
| 10/31/2024 | 10.62 | .30 | 2.68 | 2.98 | (.23)<br>|  | (.23)<br>| 13.37 | 28.33 | — <br><sup>11</sup><br>| .08 | .08 | .42 | 2.43 |
| 10/31/2023 | 10.15 | .22 | .63 | .85 | (.05)<br>| (.33)<br>| (.38)<br>| 10.62 | 8.59 | — <br><sup>11</sup><br>| .08 | .08 | .43 | 2.06 |
| 10/31/2022 | 13.77 | .19 | (2.77)<br>| (2.58)<br>| (.14)<br>| (.90)<br>| (1.04)<br>| 10.15 | (20.23)<br>| — <br><sup>11</sup><br>| .07 | .07 | .42 | 1.56 |
| 10/31/2021 | 11.22 | .16 | 2.96 | 3.12 | (.18)<br>| (.39)<br>| (.57)<br>| 13.77 | 28.56 | 2 | .07 | .07 | .44 | 1.23 |
| 10/31/2020<sup>5,14</sup> <br>| 11.22 |  |  |  |  |  |  | 11.22 |  | — <br><sup>11</sup><br>|  |  |  |  |

---

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

---

| | |
|:---|:---|
| American Funds College Target Date Series | **36** |

---

------

Financial highlights (continued)

**College 2033 Fund**

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2,12</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)**  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,12</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>4,12</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>12</sup>  |
| <br>**Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2,12</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)**  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,12</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>4,12</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>12</sup>  |
| **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  |
| 4/30/2025<sup>5,6</sup> <br>| $12.87 | $.19 | $.06 | $.25 | $(.34)<br>| $(.13)<br>| $(.47)<br>| $12.65 | 2.01 %<sup>7</sup><br>| $2945 | .41 %<sup>8</sup><br>| .41 %<sup>8</sup><br>| .71 %<sup>8</sup><br>| 3.03 %<sup>8</sup><br>|
| 10/31/2024 | 10.73 | .35 | 2.07 | 2.42 | (.28)<br>|  | (.28)<br>| 12.87 | 22.87 | 2765 | .42 | .42 | .72 | 2.89 |
| 10/31/2023 | 10.64 | .27 | .30 | .57 | (.20)<br>| (.28)<br>| (.48)<br>| 10.73 | 5.43 | 2061 | .43 | .43 | .73 | 2.46 |
| 10/31/2022 | 14.34 | .19 | (2.40)<br>| (2.21)<br>| (.15)<br>| (1.34)<br>| (1.49)<br>| 10.64 | (17.23)<br>| 1748 | .42 | .42 | .73 | 1.57 |
| 10/31/2021 | 12.44 | .15 | 2.54 | 2.69 | (.23)<br>| (.56)<br>| (.79)<br>| 14.34 | 22.35 | 1840 | .42 | .42 | .75 | 1.07 |
| 10/31/2020 | 12.04 | .17 | .80 | .97 | (.21)<br>| (.36)<br>| (.57)<br>| 12.44 | 8.22 | 1263 | .42 | .42 | .76 | 1.42 |
| **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.69 | .14 | .06 | .20 | (.24)<br>| (.13)<br>| (.37)<br>| 12.52 | 1.62 <br><sup>7</sup><br>| 80 | 1.16 <br><sup>8</sup><br>| 1.16 <br><sup>8</sup><br>| 1.46 <br><sup>8</sup><br>| 2.28 <br><sup>8</sup><br>|
| 10/31/2024 | 10.58 | .26 | 2.04 | 2.30 | (.19)<br>|  | (.19)<br>| 12.69 | 21.95 | 82 | 1.17 | 1.17 | 1.47 | 2.16 |
| 10/31/2023 | 10.48 | .18 | .31 | .49 | (.11)<br>| (.28)<br>| (.39)<br>| 10.58 | 4.67 | 75 | 1.19 | 1.19 | 1.49 | 1.69 |
| 10/31/2022 | 14.13 | .09 | (2.37)<br>| (2.28)<br>| (.03)<br>| (1.34)<br>| (1.37)<br>| 10.48 | (17.86)<br>| 79 | 1.17 | 1.17 | 1.48 | .80 |
| 10/31/2021 | 12.27 | .04 | 2.51 | 2.55 | (.13)<br>| (.56)<br>| (.69)<br>| 14.13 | 21.36 | 108 | 1.17 | 1.17 | 1.50 | .32 |
| 10/31/2020 | 11.88 | .08 | .80 | .88 | (.13)<br>| (.36)<br>| (.49)<br>| 12.27 | 7.53 | 98 | 1.17 | 1.17 | 1.51 | .71 |
| **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.78 | .18 | .06 | .24 | (.32)<br>| (.13)<br>| (.45)<br>| 12.57 | 1.88 <br><sup>7</sup><br>| 84 | .64 <br><sup>8</sup><br>| .64 <br><sup>8</sup><br>| .94 <br><sup>8</sup><br>| 2.80 <br><sup>8</sup><br>|
| 10/31/2024 | 10.65 | .32 | 2.07 | 2.39 | (.26)<br>|  | (.26)<br>| 12.78 | 22.70 | 81 | .64 | .64 | .94 | 2.67 |
| 10/31/2023 | 10.57 | .24 | .30 | .54 | (.18)<br>| (.28)<br>| (.46)<br>| 10.65 | 5.14 | 62 | .65 | .65 | .95 | 2.24 |
| 10/31/2022 | 14.25 | .16 | (2.38)<br>| (2.22)<br>| (.12)<br>| (1.34)<br>| (1.46)<br>| 10.57 | (17.38)<br>| 54 | .64 | .64 | .95 | 1.35 |
| 10/31/2021 | 12.37 | .12 | 2.53 | 2.65 | (.21)<br>| (.56)<br>| (.77)<br>| 14.25 | 22.07 | 57 | .63 | .63 | .96 | .85 |
| 10/31/2020 | 11.98 | .14 | .79 | .93 | (.18)<br>| (.36)<br>| (.54)<br>| 12.37 | 7.99 | 40 | .64 | .64 | .98 | 1.21 |
| **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.94 | .21 | .05 | .26 | (.37)<br>| (.13)<br>| (.50)<br>| 12.70 | 2.06 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .18 <br><sup>810</sup><br>| .18 <br><sup>810</sup><br>| .48 <br><sup>810</sup><br>| 3.27 <br><sup>810</sup><br>|
| 10/31/2024 | 10.78 | .38 | 2.10 | 2.48 | (.32)<br>|  | (.32)<br>| 12.94 | 23.30 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .18 <br><sup>10</sup><br>| .18 <br><sup>10</sup><br>| .48 <br><sup>10</sup><br>| 3.14 <br><sup>10</sup><br>|
| 10/31/2023 | 10.69 | .31 | .29 | .60 | (.23)<br>| (.28)<br>| (.51)<br>| 10.78 | 5.67 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .11 <br><sup>10</sup><br>| .11 <br><sup>10</sup><br>| .41 <br><sup>10</sup><br>| 2.77 <br><sup>10</sup><br>|
| 10/31/2022 | 14.39 | .22 | (2.41)<br>| (2.19)<br>| (.17)<br>| (1.34)<br>| (1.51)<br>| 10.69 | (17.00 )<sup>10</sup><br>| — <br><sup>11</sup><br>| .17 <br><sup>10</sup><br>| .17 <br><sup>10</sup><br>| .48 <br><sup>10</sup><br>| 1.82 <br><sup>10</sup><br>|
| 10/31/2021 | 12.48 | .17 | 2.56 | 2.73 | (.26)<br>| (.56)<br>| (.82)<br>| 14.39 | 22.56 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .21 <br><sup>10</sup><br>| .21 <br><sup>10</sup><br>| .54 <br><sup>10</sup><br>| 1.27 <br><sup>10</sup><br>|
| 10/31/2020 | 12.07 | .20 | .80 | 1.00 | (.23)<br>| (.36)<br>| (.59)<br>| 12.48 | 8.46 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .21 <br><sup>10</sup><br>| .21 <br><sup>10</sup><br>| .55 <br><sup>10</sup><br>| 1.66 <br><sup>10</sup><br>|
| **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.95 | .21 | .06 | .27 | (.37)<br>| (.13)<br>| (.50)<br>| 12.72 | 2.11 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .20 <br><sup>810</sup><br>| .20 <br><sup>810</sup><br>| .50 <br><sup>810</sup><br>| 3.25 <br><sup>810</sup><br>|
| 10/31/2024 | 10.79 | .38 | 2.09 | 2.47 | (.31)<br>|  | (.31)<br>| 12.95 | 23.19 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .21 <br><sup>10</sup><br>| .51 <br><sup>10</sup><br>| 3.11 <br><sup>10</sup><br>|
| 10/31/2023 | 10.70 | .30 | .29 | .59 | (.22)<br>| (.28)<br>| (.50)<br>| 10.79 | 5.60 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .19 <br><sup>10</sup><br>| .49 <br><sup>10</sup><br>| 2.70 <br><sup>10</sup><br>|
| 10/31/2022 | 14.40 | .21 | (2.40)<br>| (2.19)<br>| (.17)<br>| (1.34)<br>| (1.51)<br>| 10.70 | (17.04 )<sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .22 <br><sup>10</sup><br>| .53 <br><sup>10</sup><br>| 1.77 <br><sup>10</sup><br>|
| 10/31/2021 | 12.51 | .17 | 2.56 | 2.73 | (.28)<br>| (.56)<br>| (.84)<br>| 14.40 | 22.52 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .25 <br><sup>10</sup><br>| .25 <br><sup>10</sup><br>| .58 <br><sup>10</sup><br>| 1.22 <br><sup>10</sup><br>|
| 10/31/2020 | 12.10 | .20 | .80 | 1.00 | (.23)<br>| (.36)<br>| (.59)<br>| 12.51 | 8.51 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .18 <br><sup>10</sup><br>| .18 <br><sup>10</sup><br>| .52 <br><sup>10</sup><br>| 1.66 <br><sup>10</sup><br>|
| **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.88 | .21 | .06 | .27 | (.38)<br>| (.13)<br>| (.51)<br>| 12.64 | 2.12 <br><sup>7</sup><br>| 541 | .14 <br><sup>8</sup><br>| .14 <br><sup>8</sup><br>| .44 <br><sup>8</sup><br>| 3.30 <br><sup>8</sup><br>|
| 10/31/2024 | 10.73 | .38 | 2.08 | 2.46 | (.31)<br>|  | (.31)<br>| 12.88 | 23.30 | 474 | .14 | .14 | .44 | 3.16 |
| 10/31/2023 | 10.64 | .30 | .30 | .60 | (.23)<br>| (.28)<br>| (.51)<br>| 10.73 | 5.74 | 318 | .14 | .14 | .44 | 2.75 |
| 10/31/2022 | 14.34 | .22 | (2.40)<br>| (2.18)<br>| (.18)<br>| (1.34)<br>| (1.52)<br>| 10.64 | (17.02)<br>| 242 | .14 | .14 | .45 | 1.85 |
| 10/31/2021 | 12.44 | .18 | 2.54 | 2.72 | (.26)<br>| (.56)<br>| (.82)<br>| 14.34 | 22.62 | 229 | .17 | .17 | .50 | 1.31 |
| 10/31/2020<sup>5,14</sup> <br>| 12.44 |  |  |  |  |  |  | 12.44 |  | 132 |  |  |  |  |
| **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.88 | .22 | .05 | .27 | (.37)<br>| (.13)<br>| (.50)<br>| 12.65 | 2.15 <br><sup>7</sup><br>| — <br><sup>11</sup><br>| .07 <br><sup>8</sup><br>| .07 <br><sup>8</sup><br>| .37 <br><sup>8</sup><br>| 3.50 <br><sup>8</sup><br>|
| 10/31/2024 | 10.73 | .40 | 2.07 | 2.47 | (.32)<br>|  | (.32)<br>| 12.88 | 23.37 | — <br><sup>11</sup><br>| .07 | .07 | .37 | 3.32 |
| 10/31/2023 | 10.64 | .31 | .30 | .61 | (.24)<br>| (.28)<br>| (.52)<br>| 10.73 | 5.78 | 1 | .07 | .07 | .37 | 2.82 |
| 10/31/2022 | 14.34 | .23 | (2.40)<br>| (2.17)<br>| (.19)<br>| (1.34)<br>| (1.53)<br>| 10.64 | (16.96)<br>| 1 | .07 | .07 | .38 | 1.91 |
| 10/31/2021 | 12.44 | .20 | 2.54 | 2.74 | (.28)<br>| (.56)<br>| (.84)<br>| 14.34 | 22.77 | 1 | .07 | .07 | .40 | 1.45 |
| 10/31/2020<sup>5,14</sup> <br>| 12.44 |  |  |  |  |  |  | 12.44 |  | — <br><sup>11</sup><br>|  |  |  |  |

---

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

---

| | |
|:---|:---|
| **37** | American Funds College Target Date Series |

---

------

Financial highlights (continued)

**College 2030 Fund**

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2,12</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)**  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,12</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>4,12</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>12</sup>  |
| <br>**Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2,12</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)**  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,12</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>4,12</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>12</sup>  |
| **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  |
| 4/30/2025<sup>5,6</sup> <br>| $13.57 | $.22 | $.09 | $.31 | $(.43)<br>| $(.09)<br>| $(.52)<br>| $13.36 | 2.33 %<sup>7</sup><br>| $3569 | .41 %<sup>8</sup><br>| .41 %<sup>8</sup><br>| .69 %<sup>8</sup><br>| 3.36 %<sup>8</sup><br>|
| 10/31/2024 | 11.78 | .44 | 1.72 | 2.16 | (.37)<br>|  | (.37)<br>| 13.57 | 18.65 | 3380 | .42 | .42 | .71 | 3.38 |
| 10/31/2023 | 11.94 | .37 | (.05)<br>| .32 | (.29)<br>| (.19)<br>| (.48)<br>| 11.78 | 2.64 | 2676 | .43 | .43 | .71 | 3.05 |
| 10/31/2022 | 15.49 | .25 | (2.07)<br>| (1.82)<br>| (.21)<br>| (1.52)<br>| (1.73)<br>| 11.94 | (13.28)<br>| 2413 | .41 | .41 | .68 | 1.91 |
| 10/31/2021 | 13.99 | .21 | 2.10 | 2.31 | (.35)<br>| (.46)<br>| (.81)<br>| 15.49 | 17.04 | 2527 | .41 | .41 | .70 | 1.40 |
| 10/31/2020 | 13.86 | .23 | .52 | .75 | (.27)<br>| (.35)<br>| (.62)<br>| 13.99 | 5.53 | 1896 | .42 | .42 | .74 | 1.64 |
| **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  |
| 4/30/2025<sup>5,6</sup> <br>| 13.36 | .17 | .08 | .25 | (.33)<br>| (.09)<br>| (.42)<br>| 13.19 | 1.89 <br><sup>7</sup><br>| 120 | 1.16 <br><sup>8</sup><br>| 1.16 <br><sup>8</sup><br>| 1.44 <br><sup>8</sup><br>| 2.61 <br><sup>8</sup><br>|
| 10/31/2024 | 11.60 | .34 | 1.70 | 2.04 | (.28)<br>|  | (.28)<br>| 13.36 | 17.74 | 120 | 1.17 | 1.17 | 1.46 | 2.63 |
| 10/31/2023 | 11.75 | .28 | (.05)<br>| .23 | (.19)<br>| (.19)<br>| (.38)<br>| 11.60 | 1.90 | 107 | 1.19 | 1.19 | 1.47 | 2.29 |
| 10/31/2022 | 15.24 | .15 | (2.03)<br>| (1.88)<br>| (.09)<br>| (1.52)<br>| (1.61)<br>| 11.75 | (13.86)<br>| 112 | 1.17 | 1.17 | 1.44 | 1.14 |
| 10/31/2021 | 13.72 | .09 | 2.07 | 2.16 | (.18)<br>| (.46)<br>| (.64)<br>| 15.24 | 16.16 | 141 | 1.16 | 1.16 | 1.45 | .64 |
| 10/31/2020 | 13.61 | .13 | .51 | .64 | (.18)<br>| (.35)<br>| (.53)<br>| 13.72 | 4.74 | 139 | 1.16 | 1.16 | 1.48 | .97 |
| **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  |
| 4/30/2025<sup>5,6</sup> <br>| 13.44 | .21 | .08 | .29 | (.40)<br>| (.09)<br>| (.49)<br>| 13.24 | 2.20 <br><sup>7</sup><br>| 106 | .64 <br><sup>8</sup><br>| .64 <br><sup>8</sup><br>| .92 <br><sup>8</sup><br>| 3.14 <br><sup>8</sup><br>|
| 10/31/2024 | 11.67 | .41 | 1.71 | 2.12 | (.35)<br>|  | (.35)<br>| 13.44 | 18.40 | 104 | .64 | .64 | .93 | 3.15 |
| 10/31/2023 | 11.83 | .34 | (.05)<br>| .29 | (.26)<br>| (.19)<br>| (.45)<br>| 11.67 | 2.43 | 83 | .65 | .65 | .93 | 2.83 |
| 10/31/2022 | 15.36 | .22 | (2.05)<br>| (1.83)<br>| (.18)<br>| (1.52)<br>| (1.70)<br>| 11.83 | (13.46)<br>| 77 | .64 | .64 | .91 | 1.68 |
| 10/31/2021 | 13.88 | .17 | 2.09 | 2.26 | (.32)<br>| (.46)<br>| (.78)<br>| 15.36 | 16.77 | 82 | .63 | .63 | .92 | 1.17 |
| 10/31/2020 | 13.76 | .19 | .53 | .72 | (.25)<br>| (.35)<br>| (.60)<br>| 13.88 | 5.29 | 62 | .64 | .64 | .96 | 1.43 |
| **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  |
| 4/30/2025<sup>5,6</sup> <br>| 13.62 | .24 | .08 | .32 | (.46)<br>| (.09)<br>| (.55)<br>| 13.39 | 2.41 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .16 <br><sup>810</sup><br>| .16 <br><sup>810</sup><br>| .44 <br><sup>810</sup><br>| 3.62 <br><sup>810</sup><br>|
| 10/31/2024 | 11.83 | .47 | 1.73 | 2.20 | (.41)<br>|  | (.41)<br>| 13.62 | 18.92 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .17 <br><sup>10</sup><br>| .17 <br><sup>10</sup><br>| .46 <br><sup>10</sup><br>| 3.63 <br><sup>10</sup><br>|
| 10/31/2023 | 11.98 | .41 | (.05)<br>| .36 | (.32)<br>| (.19)<br>| (.51)<br>| 11.83 | 2.97 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .11 <br><sup>10</sup><br>| .11 <br><sup>10</sup><br>| .39 <br><sup>10</sup><br>| 3.38 <br><sup>10</sup><br>|
| 10/31/2022 | 15.52 | .28 | (2.06)<br>| (1.78)<br>| (.24)<br>| (1.52)<br>| (1.76)<br>| 11.98 | (13.01 )<sup>10</sup><br>| — <br><sup>11</sup><br>| .17 <br><sup>10</sup><br>| .17 <br><sup>10</sup><br>| .44 <br><sup>10</sup><br>| 2.15 <br><sup>10</sup><br>|
| 10/31/2021 | 14.01 | .24 | 2.10 | 2.34 | (.37)<br>| (.46)<br>| (.83)<br>| 15.52 | 17.28 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .20 <br><sup>10</sup><br>| .20 <br><sup>10</sup><br>| .49 <br><sup>10</sup><br>| 1.61 <br><sup>10</sup><br>|
| 10/31/2020 | 13.88 | .26 | .52 | .78 | (.30)<br>| (.35)<br>| (.65)<br>| 14.01 | 5.70 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .21 <br><sup>10</sup><br>| .21 <br><sup>10</sup><br>| .53 <br><sup>10</sup><br>| 1.86 <br><sup>10</sup><br>|
| **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  |
| 4/30/2025<sup>5,6</sup> <br>| 13.65 | .24 | .08 | .32 | (.45)<br>| (.09)<br>| (.54)<br>| 13.43 | 2.43 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .20 <br><sup>810</sup><br>| .20 <br><sup>810</sup><br>| .48 <br><sup>810</sup><br>| 3.57 <br><sup>810</sup><br>|
| 10/31/2024 | 11.85 | .47 | 1.73 | 2.20 | (.40)<br>|  | (.40)<br>| 13.65 | 18.88 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .21 <br><sup>10</sup><br>| .50 <br><sup>10</sup><br>| 3.59 <br><sup>10</sup><br>|
| 10/31/2023 | 12.00 | .40 | (.05)<br>| .35 | (.31)<br>| (.19)<br>| (.50)<br>| 11.85 | 2.91 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .19 <br><sup>10</sup><br>| .47 <br><sup>10</sup><br>| 3.29 <br><sup>10</sup><br>|
| 10/31/2022 | 15.55 | .28 | (2.08)<br>| (1.80)<br>| (.23)<br>| (1.52)<br>| (1.75)<br>| 12.00 | (13.11 )<sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .22 <br><sup>10</sup><br>| .49 <br><sup>10</sup><br>| 2.10 <br><sup>10</sup><br>|
| 10/31/2021 | 14.06 | .23 | 2.12 | 2.35 | (.40)<br>| (.46)<br>| (.86)<br>| 15.55 | 17.26 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .25 <br><sup>10</sup><br>| .25 <br><sup>10</sup><br>| .54 <br><sup>10</sup><br>| 1.53 <br><sup>10</sup><br>|
| 10/31/2020 | 13.93 | .26 | .53 | .79 | (.31)<br>| (.35)<br>| (.66)<br>| 14.06 | 5.74 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .17 <br><sup>10</sup><br>| .17 <br><sup>10</sup><br>| .49 <br><sup>10</sup><br>| 1.88 <br><sup>10</sup><br>|
| **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  |
| 4/30/2025<sup>5,6</sup> <br>| 13.58 | .24 | .07 | .31 | (.46)<br>| (.09)<br>| (.55)<br>| 13.34 | 2.38 <br><sup>7</sup><br>| 618 | .14 <br><sup>8</sup><br>| .14 <br><sup>8</sup><br>| .42 <br><sup>8</sup><br>| 3.62 <br><sup>8</sup><br>|
| 10/31/2024 | 11.79 | .47 | 1.73 | 2.20 | (.41)<br>|  | (.41)<br>| 13.58 | 18.96 | 547 | .14 | .14 | .43 | 3.64 |
| 10/31/2023 | 11.95 | .41 | (.06)<br>| .35 | (.32)<br>| (.19)<br>| (.51)<br>| 11.79 | 2.93 | 388 | .14 | .14 | .42 | 3.34 |
| 10/31/2022 | 15.49 | .29 | (2.06)<br>| (1.77)<br>| (.25)<br>| (1.52)<br>| (1.77)<br>| 11.95 | (12.99)<br>| 324 | .14 | .14 | .41 | 2.18 |
| 10/31/2021 | 13.99 | .25 | 2.09 | 2.34 | (.38)<br>| (.46)<br>| (.84)<br>| 15.49 | 17.30 | 302 | .17 | .17 | .46 | 1.64 |
| 10/31/2020<sup>5,14</sup> <br>| 13.99 |  |  |  |  |  |  | 13.99 |  | 194 |  |  |  |  |
| **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  |
| 4/30/2025<sup>5,6</sup> <br>| 13.58 | .24 | .08 | .32 | (.46)<br>| (.09)<br>| (.55)<br>| 13.35 | 2.43 <br><sup>7</sup><br>| — <br><sup>11</sup><br>| .07 <br><sup>8</sup><br>| .07 <br><sup>8</sup><br>| .35 <br><sup>8</sup><br>| 3.67 <br><sup>8</sup><br>|
| 10/31/2024 | 11.79 | .48 | 1.73 | 2.21 | (.42)<br>|  | (.42)<br>| 13.58 | 19.02 | — <br><sup>11</sup><br>| .07 | .07 | .36 | 3.76 |
| 10/31/2023 | 11.94 | .41 | (.04)<br>| .37 | (.33)<br>| (.19)<br>| (.52)<br>| 11.79 | 3.07 | 1 | .07 | .07 | .35 | 3.40 |
| 10/31/2022 | 15.49 | .30 | (2.07)<br>| (1.77)<br>| (.26)<br>| (1.52)<br>| (1.78)<br>| 11.94 | (13.00)<br>| 1 | .07 | .07 | .34 | 2.24 |
| 10/31/2021 | 13.99 | .27 | 2.09 | 2.36 | (.40)<br>| (.46)<br>| (.86)<br>| 15.49 | 17.45 | 1 | .07 | .07 | .36 | 1.78 |
| 10/31/2020<sup>5,14</sup> <br>| 13.99 |  |  |  |  |  |  | 13.99 |  | — <br><sup>11</sup><br>|  |  |  |  |

---

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

---

| | |
|:---|:---|
| American Funds College Target Date Series | **38** |

---

------

Financial highlights (continued)

**College 2027 Fund**

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2,12</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)**  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,12</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>4,12</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>12</sup>  |
| <br>**Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2,12</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)**  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,12</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>4,12</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>12</sup>  |
| **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  |
| 4/30/2025<sup>5,6</sup> <br>| $12.32 | $.21 | $.11 | $.32 | $(.41)<br>| $(.04)<br>| $(.45)<br>| $12.19 | 2.69 %<sup>7</sup><br>| $2861 | .41 %<sup>8</sup><br>| .41 %<sup>8</sup><br>| .69 %<sup>8</sup><br>| 3.46 %<sup>8</sup><br>|
| 10/31/2024 | 11.12 | .43 | 1.14 | 1.57 | (.37)<br>|  | (.37)<br>| 12.32 | 14.32 | 2732 | .42 | .42 | .70 | 3.61 |
| 10/31/2023 | 11.33 | .38 | (.21)<br>| .17 | (.28)<br>| (.10)<br>| (.38)<br>| 11.12 | 1.47 | 2263 | .43 | .43 | .70 | 3.29 |
| 10/31/2022 | 13.77 | .24 | (1.71)<br>| (1.47)<br>| (.19)<br>| (.78)<br>| (.97)<br>| 11.33 | (11.49)<br>| 2088 | .41 | .41 | .66 | 1.97 |
| 10/31/2021 | 13.11 | .21 | 1.20 | 1.41 | (.39)<br>| (.36)<br>| (.75)<br>| 13.77 | 11.10 | 2161 | .41 | .41 | .66 | 1.54 |
| 10/31/2020 | 13.06 | .24 | .32 | .56 | (.29)<br>| (.22)<br>| (.51)<br>| 13.11 | 4.39 | 1687 | .42 | .42 | .69 | 1.86 |
| **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.14 | .16 | .11 | .27 | (.32)<br>| (.04)<br>| (.36)<br>| 12.05 | 2.30 <br><sup>7</sup><br>| 166 | 1.16 <br><sup>8</sup><br>| 1.16 <br><sup>8</sup><br>| 1.44 <br><sup>8</sup><br>| 2.70 <br><sup>8</sup><br>|
| 10/31/2024 | 10.96 | .34 | 1.12 | 1.46 | (.28)<br>|  | (.28)<br>| 12.14 | 13.49 | 161 | 1.17 | 1.17 | 1.45 | 2.85 |
| 10/31/2023 | 11.17 | .29 | (.21)<br>| .08 | (.19)<br>| (.10)<br>| (.29)<br>| 10.96 | .69 | 139 | 1.19 | 1.19 | 1.46 | 2.52 |
| 10/31/2022 | 13.58 | .15 | (1.69)<br>| (1.54)<br>| (.09)<br>| (.78)<br>| (.87)<br>| 11.17 | (12.14)<br>| 130 | 1.17 | 1.17 | 1.42 | 1.20 |
| 10/31/2021 | 12.88 | .11 | 1.18 | 1.29 | (.23)<br>| (.36)<br>| (.59)<br>| 13.58 | 10.29 | 143 | 1.16 | 1.16 | 1.41 | .79 |
| 10/31/2020 | 12.85 | .15 | .30 | .45 | (.20)<br>| (.22)<br>| (.42)<br>| 12.88 | 3.57 | 132 | 1.16 | 1.16 | 1.43 | 1.21 |
| **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.19 | .19 | .12 | .31 | (.39)<br>| (.04)<br>| (.43)<br>| 12.07 | 2.58 <br><sup>7</sup><br>| 95 | .64 <br><sup>8</sup><br>| .64 <br><sup>8</sup><br>| .92 <br><sup>8</sup><br>| 3.23 <br><sup>8</sup><br>|
| 10/31/2024 | 11.01 | .40 | 1.12 | 1.52 | (.34)<br>|  | (.34)<br>| 12.19 | 14.03 | 91 | .64 | .64 | .92 | 3.38 |
| 10/31/2023 | 11.22 | .35 | (.20)<br>| .15 | (.26)<br>| (.10)<br>| (.36)<br>| 11.01 | 1.26 | 74 | .65 | .65 | .92 | 3.06 |
| 10/31/2022 | 13.64 | .21 | (1.69)<br>| (1.48)<br>| (.16)<br>| (.78)<br>| (.94)<br>| 11.22 | (11.66)<br>| 69 | .64 | .64 | .89 | 1.74 |
| 10/31/2021 | 13.00 | .18 | 1.18 | 1.36 | (.36)<br>| (.36)<br>| (.72)<br>| 13.64 | 10.79 | 72 | .63 | .63 | .88 | 1.32 |
| 10/31/2020 | 12.96 | .21 | .32 | .53 | (.27)<br>| (.22)<br>| (.49)<br>| 13.00 | 4.16 | 57 | .64 | .64 | .91 | 1.65 |
| **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.37 | .22 | .12 | .34 | (.44)<br>| (.04)<br>| (.48)<br>| 12.23 | 2.84 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .16 <br><sup>810</sup><br>| .16 <br><sup>810</sup><br>| .44 <br><sup>810</sup><br>| 3.70 <br><sup>810</sup><br>|
| 10/31/2024 | 11.17 | .46 | 1.14 | 1.60 | (.40)<br>|  | (.40)<br>| 12.37 | 14.59 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .17 <br><sup>10</sup><br>| .17 <br><sup>10</sup><br>| .45 <br><sup>10</sup><br>| 3.85 <br><sup>10</sup><br>|
| 10/31/2023 | 11.37 | .41 | (.20)<br>| .21 | (.31)<br>| (.10)<br>| (.41)<br>| 11.17 | 1.80 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .12 <br><sup>10</sup><br>| .12 <br><sup>10</sup><br>| .39 <br><sup>10</sup><br>| 3.60 <br><sup>10</sup><br>|
| 10/31/2022 | 13.81 | .27 | (1.71)<br>| (1.44)<br>| (.22)<br>| (.78)<br>| (1.00)<br>| 11.37 | (11.28 )<sup>10</sup><br>| — <br><sup>11</sup><br>| .17 <br><sup>10</sup><br>| .17 <br><sup>10</sup><br>| .42 <br><sup>10</sup><br>| 2.20 <br><sup>10</sup><br>|
| 10/31/2021 | 13.14 | .24 | 1.20 | 1.44 | (.41)<br>| (.36)<br>| (.77)<br>| 13.81 | 11.33 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .20 <br><sup>10</sup><br>| .20 <br><sup>10</sup><br>| .45 <br><sup>10</sup><br>| 1.76 <br><sup>10</sup><br>|
| 10/31/2020 | 13.09 | .27 | .31 | .58 | (.31)<br>| (.22)<br>| (.53)<br>| 13.14 | 4.56 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .22 <br><sup>10</sup><br>| .49 <br><sup>10</sup><br>| 2.08 <br><sup>10</sup><br>|
| **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.40 | .22 | .12 | .34 | (.44)<br>| (.04)<br>| (.48)<br>| 12.26 | 2.78 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .21 <br><sup>810</sup><br>| .21 <br><sup>810</sup><br>| .49 <br><sup>810</sup><br>| 3.66 <br><sup>810</sup><br>|
| 10/31/2024 | 11.19 | .46 | 1.15 | 1.61 | (.40)<br>|  | (.40)<br>| 12.40 | 14.57 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .22 <br><sup>10</sup><br>| .50 <br><sup>10</sup><br>| 3.81 <br><sup>10</sup><br>|
| 10/31/2023 | 11.40 | .41 | (.22)<br>| .19 | (.30)<br>| (.10)<br>| (.40)<br>| 11.19 | 1.65 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .19 <br><sup>10</sup><br>| .46 <br><sup>10</sup><br>| 3.52 <br><sup>10</sup><br>|
| 10/31/2022 | 13.83 | .27 | (1.71)<br>| (1.44)<br>| (.21)<br>| (.78)<br>| (.99)<br>| 11.40 | (11.25 )<sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .22 <br><sup>10</sup><br>| .47 <br><sup>10</sup><br>| 2.15 <br><sup>10</sup><br>|
| 10/31/2021 | 13.19 | .23 | 1.20 | 1.43 | (.43)<br>| (.36)<br>| (.79)<br>| 13.83 | 11.23 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .25 <br><sup>10</sup><br>| .25 <br><sup>10</sup><br>| .50 <br><sup>10</sup><br>| 1.64 <br><sup>10</sup><br>|
| 10/31/2020 | 13.14 | .27 | .32 | .59 | (.32)<br>| (.22)<br>| (.54)<br>| 13.19 | 4.60 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .17 <br><sup>10</sup><br>| .17 <br><sup>10</sup><br>| .44 <br><sup>10</sup><br>| 2.11 <br><sup>10</sup><br>|
| **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.32 | .22 | .13 | .35 | (.45)<br>| (.04)<br>| (.49)<br>| 12.18 | 2.89 <br><sup>7</sup><br>| 567 | .14 <br><sup>8</sup><br>| .14 <br><sup>8</sup><br>| .42 <br><sup>8</sup><br>| 3.72 <br><sup>8</sup><br>|
| 10/31/2024 | 11.12 | .46 | 1.14 | 1.60 | (.40)<br>|  | (.40)<br>| 12.32 | 14.64 | 510 | .15 | .15 | .43 | 3.88 |
| 10/31/2023 | 11.34 | .41 | (.22)<br>| .19 | (.31)<br>| (.10)<br>| (.41)<br>| 11.12 | 1.67 | 383 | .14 | .14 | .41 | 3.58 |
| 10/31/2022 | 13.77 | .28 | (1.71)<br>| (1.43)<br>| (.22)<br>| (.78)<br>| (1.00)<br>| 11.34 | (11.19)<br>| 318 | .14 | .14 | .39 | 2.24 |
| 10/31/2021 | 13.11 | .24 | 1.20 | 1.44 | (.42)<br>| (.36)<br>| (.78)<br>| 13.77 | 11.35 | 301 | .17 | .17 | .42 | 1.78 |
| 10/31/2020<sup>5,14</sup> <br>| 13.11 |  |  |  |  |  |  | 13.11 |  | 203 |  |  |  |  |
| **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  |
| 4/30/2025<sup>5,6</sup> <br>| 12.32 | .23 | .11 | .34 | (.45)<br>| (.04)<br>| (.49)<br>| 12.17 | 2.86 <br><sup>7</sup><br>| — <br><sup>11</sup><br>| .08 <br><sup>8</sup><br>| .08 <br><sup>8</sup><br>| .36 <br><sup>8</sup><br>| 3.79 <br><sup>8</sup><br>|
| 10/31/2024 | 11.12 | .47 | 1.14 | 1.61 | (.41)<br>|  | (.41)<br>| 12.32 | 14.70 | — <br><sup>11</sup><br>| .08 | .08 | .36 | 3.94 |
| 10/31/2023 | 11.33 | .42 | (.21)<br>| .21 | (.32)<br>| (.10)<br>| (.42)<br>| 11.12 | 1.81 | — <br><sup>11</sup><br>| .08 | .08 | .35 | 3.64 |
| 10/31/2022 | 13.76 | .28 | (1.70)<br>| (1.42)<br>| (.23)<br>| (.78)<br>| (1.01)<br>| 11.33 | (11.14)<br>| — <br><sup>11</sup><br>| .08 | .08 | .33 | 2.29 |
| 10/31/2021 | 13.11 | .25 | 1.20 | 1.45 | (.44)<br>| (.36)<br>| (.80)<br>| 13.76 | 11.41 | — <br><sup>11</sup><br>| .10 | .08 | .33 | 1.89 |
| 10/31/2020<sup>5,14</sup> <br>| 13.11 |  |  |  |  |  |  | 13.11 |  | — <br><sup>11</sup><br>|  |  |  |  |

---

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

---

| | |
|:---|:---|
| **39** | American Funds College Target Date Series |

---

------

Financial highlights (continued)

**College Enrollment Fund**

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2,12</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)**  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,12</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>4,12</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>12</sup>  |
| <br>**Year ended**  | **Net asset** <br>**value,** <br>**beginning** <br>**of year** | **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| **Net asset** <br>**value,** <br>**end** <br>**of year** | **Total return**<sup>2,12</sup>  | **Net assets,** <br>**end of year** <br>**(in millions)**  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3</sup>  | **Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,12</sup>  | **Net** <br>**effective** <br>**expense** <br>**ratio**<sup>4,12</sup>  | **Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>12</sup>  |
| **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  |
| 4/30/2025<sup>5,6</sup> <br>| $9.55 | $.16 | $.10 | $.26 | $(.32)<br>| $— | $(.32)<br>| $9.49 | 2.79 %<sup>7</sup><br>| $2914 | .38 %<sup>8</sup><br>| .38 %<sup>8</sup><br>| .65 %<sup>8</sup><br>| 3.53 %<sup>8</sup><br>|
| 10/31/2024 | 9.00 | .33 | .55 | .88 | (.33)<br>|  | (.33)<br>| 9.55 | 9.94 | 3126 | .42 | .42 | .70 | 3.56 |
| 10/31/2023 | 9.06 | .29 | (.14)<br>| .15 | (.21)<br>|  | (.21)<br>| 9.00 | 1.63 | 1287 | .42 | .42 | .69 | 3.18 |
| 10/31/2022 | 10.04 | .14 | (1.01)<br>| (.87)<br>| (.06)<br>| (.05)<br>| (.11)<br>| 9.06 | (8.75)<br>| 1650 | .40 | .40 | .67 | 1.43 |
| 10/31/2021 | 10.39 | .07 | (.08)<br>| (.01)<br>| (.27)<br>| (.07)<br>| (.34)<br>| 10.04 | (.07)<br>| 2296 | .41 | .41 | .68 | .72 |
| 10/31/2020 | 10.09 | .13 | .40 | .53 | (.23)<br>|  | (.23)<br>| 10.39 | 5.34 | 821 | .41 | .41 | .68 | 1.25 |
| **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  |
| 4/30/2025<sup>5,6</sup> <br>| 9.61 | .13 | .10 | .23 | (.24)<br>|  | (.24)<br>| 9.60 | 2.48 <br><sup>7</sup><br>| 174 | 1.16 <br><sup>8</sup><br>| 1.16 <br><sup>8</sup><br>| 1.43 <br><sup>8</sup><br>| 2.75 <br><sup>8</sup><br>|
| 10/31/2024 | 9.03 | .26 | .55 | .81 | (.23)<br>|  | (.23)<br>| 9.61 | 9.07 | 204 | 1.17 | 1.17 | 1.45 | 2.80 |
| 10/31/2023 | 9.06 | .22 | (.14)<br>| .08 | (.11)<br>|  | (.11)<br>| 9.03 | .85 | 81 | 1.18 | 1.18 | 1.45 | 2.41 |
| 10/31/2022 | 10.06 | .06 | (1.01)<br>| (.95)<br>| — <br><sup>15</sup><br>| (.05)<br>| (.05)<br>| 9.06 | (9.47)<br>| 135 | 1.17 | 1.17 | 1.44 | .63 |
| 10/31/2021 | 10.34 | — <br><sup>15</sup><br>| (.09)<br>| (.09)<br>| (.12)<br>| (.07)<br>| (.19)<br>| 10.06 | (.85)<br>| 240 | 1.16 | 1.16 | 1.43 | (.02)<br>|
| 10/31/2020 | 10.02 | .07 | .39 | .46 | (.14)<br>|  | (.14)<br>| 10.34 | 4.63 | 92 | 1.12 | 1.12 | 1.39 | .65 |
| **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  |
| 4/30/2025<sup>5,6</sup> <br>| 9.53 | .15 | .10 | .25 | (.30)<br>|  | (.30)<br>| 9.48 | 2.67 <br><sup>7</sup><br>| 105 | .63 <br><sup>8</sup><br>| .63 <br><sup>8</sup><br>| .90 <br><sup>8</sup><br>| 3.28 <br><sup>8</sup><br>|
| 10/31/2024 | 8.97 | .31 | .55 | .86 | (.30)<br>|  | (.30)<br>| 9.53 | 9.78 | 117 | .63 | .63 | .91 | 3.35 |
| 10/31/2023 | 9.03 | .27 | (.15)<br>| .12 | (.18)<br>|  | (.18)<br>| 8.97 | 1.34 | 53 | .64 | .64 | .91 | 2.96 |
| 10/31/2022 | 10.01 | .11 | (1.00)<br>| (.89)<br>| (.04)<br>| (.05)<br>| (.09)<br>| 9.03 | (8.96)<br>| 71 | .64 | .64 | .91 | 1.19 |
| 10/31/2021 | 10.36 | .05 | (.08)<br>| (.03)<br>| (.25)<br>| (.07)<br>| (.32)<br>| 10.01 | (.31)<br>| 103 | .63 | .63 | .90 | .51 |
| 10/31/2020 | 10.05 | .11 | .40 | .51 | (.20)<br>|  | (.20)<br>| 10.36 | 5.19 | 38 | .61 | .61 | .88 | 1.08 |
| **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  |
| 4/30/2025<sup>5,6</sup> <br>| 9.56 | .17 | .10 | .27 | (.34)<br>|  | (.34)<br>| 9.49 | 2.88 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .18 <br><sup>810</sup><br>| .18 <br><sup>810</sup><br>| .45 <br><sup>810</sup><br>| 3.72 <br><sup>810</sup><br>|
| 10/31/2024 | 9.02 | .35 | .55 | .90 | (.36)<br>|  | (.36)<br>| 9.56 | 10.18 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .19 <br><sup>10</sup><br>| .19 <br><sup>10</sup><br>| .47 <br><sup>10</sup><br>| 3.79 <br><sup>10</sup><br>|
| 10/31/2023 | 9.08 | .32 | (.14)<br>| .18 | (.24)<br>|  | (.24)<br>| 9.02 | 1.93 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .13 <br><sup>10</sup><br>| .13 <br><sup>10</sup><br>| .40 <br><sup>10</sup><br>| 3.47 <br><sup>10</sup><br>|
| 10/31/2022 | 10.05 | .16 | (1.01)<br>| (.85)<br>| (.07)<br>| (.05)<br>| (.12)<br>| 9.08 | (8.53 )<sup>10</sup><br>| — <br><sup>11</sup><br>| .18 <br><sup>10</sup><br>| .18 <br><sup>10</sup><br>| .45 <br><sup>10</sup><br>| 1.68 <br><sup>10</sup><br>|
| 10/31/2021 | 10.40 | .09 | (.08)<br>| .01 | (.29)<br>| (.07)<br>| (.36)<br>| 10.05 | .13 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .20 <br><sup>10</sup><br>| .20 <br><sup>10</sup><br>| .47 <br><sup>10</sup><br>| .89 <br><sup>10</sup><br>|
| 10/31/2020 | 10.10 | .15 | .40 | .55 | (.25)<br>|  | (.25)<br>| 10.40 | 5.57 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .21 <br><sup>10</sup><br>| .21 <br><sup>10</sup><br>| .48 <br><sup>10</sup><br>| 1.47 <br><sup>10</sup><br>|
| **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  |
| 4/30/2025<sup>5,6</sup> <br>| 9.57 | .17 | .10 | .27 | (.33)<br>|  | (.33)<br>| 9.51 | 2.93 <br><sup>710</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>810</sup><br>| .22 <br><sup>810</sup><br>| .49 <br><sup>810</sup><br>| 3.68 <br><sup>810</sup><br>|
| 10/31/2024 | 9.03 | .35 | .54 | .89 | (.35)<br>|  | (.35)<br>| 9.57 | 10.11 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .24 <br><sup>10</sup><br>| .23 <br><sup>10</sup><br>| .51 <br><sup>10</sup><br>| 3.74 <br><sup>10</sup><br>|
| 10/31/2023 | 9.09 | .31 | (.14)<br>| .17 | (.23)<br>|  | (.23)<br>| 9.03 | 1.90 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .21 <br><sup>10</sup><br>| .18 <br><sup>10</sup><br>| .45 <br><sup>10</sup><br>| 3.42 <br><sup>10</sup><br>|
| 10/31/2022 | 10.06 | .16 | (1.02)<br>| (.86)<br>| (.06)<br>| (.05)<br>| (.11)<br>| 9.09 | (8.60 )<sup>10</sup><br>| — <br><sup>11</sup><br>| .22 <br><sup>10</sup><br>| .22 <br><sup>10</sup><br>| .49 <br><sup>10</sup><br>| 1.64 <br><sup>10</sup><br>|
| 10/31/2021 | 10.43 | .08 | (.07)<br>| .01 | (.31)<br>| (.07)<br>| (.38)<br>| 10.06 | .08 <br><sup>10</sup><br>| — <br><sup>11</sup><br>| .27 <br><sup>10</sup><br>| .27 <br><sup>10</sup><br>| .54 <br><sup>10</sup><br>| .81 <br><sup>10</sup><br>|
| 10/31/2020 | 10.13 | .15 | .40 | .55 | (.25)<br>|  | (.25)<br>| 10.43 | 5.59 | — <br><sup>11</sup><br>| .18 | .18 | .45 | 1.51 |
| **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  |
| 4/30/2025<sup>5,6</sup> <br>| 9.55 | .18 | .09 | .27 | (.34)<br>|  | (.34)<br>| 9.48 | 2.94 <br><sup>7</sup><br>| 567 | .14 <br><sup>8</sup><br>| .14 <br><sup>8</sup><br>| .41 <br><sup>8</sup><br>| 3.77 <br><sup>8</sup><br>|
| 10/31/2024 | 9.01 | .36 | .54 | .90 | (.36)<br>|  | (.36)<br>| 9.55 | 10.20 | 583 | .14 | .14 | .42 | 3.84 |
| 10/31/2023 | 9.07 | .32 | (.14)<br>| .18 | (.24)<br>|  | (.24)<br>| 9.01 | 1.96 | 217 | .12 | .12 | .39 | 3.48 |
| 10/31/2022 | 10.04 | .16 | (1.00)<br>| (.84)<br>| (.08)<br>| (.05)<br>| (.13)<br>| 9.07 | (8.47)<br>| 264 | .14 | .14 | .41 | 1.69 |
| 10/31/2021 | 10.39 | .10 | (.08)<br>| .02 | (.30)<br>| (.07)<br>| (.37)<br>| 10.04 | .17 | 339 | .17 | .17 | .44 | .96 |
| 10/31/2020<sup>5,14</sup> <br>| 10.39 |  |  |  |  |  |  | 10.39 |  | 120 |  |  |  |  |
| **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  |
| 4/30/2025<sup>5,6</sup> <br>| 9.54 | .18 | .09 | .27 | (.34)<br>|  | (.34)<br>| 9.47 | 2.99 <br><sup>7</sup><br>| — <br><sup>11</sup><br>| .08 <br><sup>8</sup><br>| .08 <br><sup>8</sup><br>| .35 <br><sup>8</sup><br>| 3.83 <br><sup>8</sup><br>|
| 10/31/2024 | 9.00 | .36 | .54 | .90 | (.36)<br>|  | (.36)<br>| 9.54 | 10.26 | — <br><sup>11</sup><br>| .07 | .07 | .35 | 3.88 |
| 10/31/2023 | 9.06 | .32 | (.13)<br>| .19 | (.25)<br>|  | (.25)<br>| 9.00 | 2.03 | — <br><sup>11</sup><br>| .09 | .09 | .36 | 3.51 |
| 10/31/2022 | 10.03 | .17 | (1.01)<br>| (.84)<br>| (.08)<br>| (.05)<br>| (.13)<br>| 9.06 | (8.44)<br>| — <br><sup>11</sup><br>| .09 | .09 | .36 | 1.77 |
| 10/31/2021 | 10.39 | .10 | (.08)<br>| .02 | (.31)<br>| (.07)<br>| (.38)<br>| 10.03 | .23 | — <br><sup>11</sup><br>| .10 | .08 | .35 | 1.01 |
| 10/31/2020<sup>5,14</sup> <br>| 10.39 |  |  |  |  |  |  | 10.39 |  | — <br><sup>11</sup><br>|  |  |  |  |

---

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

---

| | |
|:---|:---|
| American Funds College Target Date Series | **40** |

---

------

Financial highlights (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio turnover rate for all share classes** | **Six months ended** <br>**April 30, 2025**<sup>5,6,7</sup>  | **Year ended October 31,** | **Year ended October 31,** | **Year ended October 31,** | **Year ended October 31,** | **Year ended October 31,** |
| **Portfolio turnover rate for all share classes** | **Six months ended** <br>**April 30, 2025**<sup>5,6,7</sup>  | **2024** | **2023** | **2022** | **2021** | **2020** |
| College 2042 Fund | &nbsp;&nbsp; — %<sup>16</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — %<sup>5,7,9,16</sup><br>|  |  |  |  |
| College 2039 Fund | &nbsp;&nbsp; — <br><sup>16</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>16</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 11<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4 %<sup>5,7,13</sup><br>|  |
| College 2036 Fund | &nbsp;&nbsp; — <br><sup>16</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 28<br> %<br>|
| College 2033 Fund | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 26 |
| College 2030 Fund | &nbsp;&nbsp; — <br><sup>16</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; 24 |
| College 2027 Fund | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 28 |
| College Enrollment Fund | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 5 <br><sup>17</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 16 |

---

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

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

<sup>3</sup> This column does not include expenses of the underlying funds in which each fund invests.

<sup>4</sup> This column reflects the net effective expense ratios for each fund and class, which include each class's expense ratio combined with the weighted average net expense ratio of the underlying funds for the periods presented. 

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

<sup>6</sup> Unaudited.

<sup>7</sup> Not annualized.

<sup>8</sup> Annualized.

<sup>9</sup> For the period March 15, 2024, commencement of operations, through October 31, 2024.

<sup>10</sup> All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower. 

<sup>11</sup> Amount less than $1 million.

<sup>12</sup> This column reflects the impact of certain waivers and/or reimbursements from CRMC and/or AFS, if any.

<sup>13</sup> For the period March 26, 2021, commencement of operations, through October 31, 2021.

<sup>14</sup> Class 529-F-2 and 529-F-3 shares began investment operations on October 30, 2020.

<sup>15</sup> Amount less than $.01.

<sup>16</sup> Amount was either less than 1% or there was no turnover.

<sup>17</sup> The portfolio turnover calculation was adjusted to exclude the value of securities acquired in connection with the fund's acquisition of the assets of the College 2024 Fund on March 22, 2024. The portfolio turnover rate would have been 22% without the adjustment. 

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **41** | American Funds College Target Date Series |

---

------

Changes in and disagreements with accountants

------

None

Matters submitted for shareholder vote

------

None

Remuneration paid to directors, officers and others

------

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

---

| | |
|:---|:---|
| American Funds College Target Date Series | **42** |

---

------

Approval of Investment Advisory and Service Agreement

------

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

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

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

1. Nature, extent and quality of services

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

2. Investment results

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

3. Advisory fees and total expenses

The board and the committee compared the total expense levels of each fund to those of other relevant funds. They observed that each fund's total expenses were generally competitive with, and in many cases compared favorably to those of other similar funds included in the comparable Lipper category.

The board and the committee also reviewed the fee schedule of the funds (including the fees and total expenses of the underlying American Funds in which the funds invest) to those of other relevant funds. The board and the committee noted CRMC's prior elimination of the entire advisory fee payable by the funds under the agreement. The board and committee also considered the breakpoint discounts in each underlying fund's advisory fee structure that reduce the level of fees charged by CRMC to the underlying fund as its assets increase. In addition, they reviewed information regarding the effective advisory fees charged to non-mutual fund clients by CRMC and its affiliates. They noted that, to the extent there were differences between the advisory fees paid by the underlying American Funds and the advisory fees paid by those clients, the differences appropriately reflected the investment, operational, regulatory and market differences between advising the underlying funds and the other clients. The board and the committee concluded that each fund's cost structure was fair and reasonable in relation to the services provided, as well as in relation to the risks assumed by the adviser in sponsoring and managing each fund, and that each fund's shareholders receive reasonable value in return for other amounts paid to CRMC by the funds.

---

| | |
|:---|:---|
| **43** | American Funds College Target Date Series |

---

------

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

4. Ancillary benefits

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

5. Adviser financial information

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

---

| | |
|:---|:---|
| American Funds College Target Date Series | **44** |

---

------

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

------

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

------

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

------

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

------

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

------

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

------

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

------

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

------

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

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

------

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

------

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

------

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

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

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

**American Funds College Target Date Series**

By /s/ Michael W. Stockton

Michael W. Stockton,

Executive Vice President and Principal Executive Officer

Date: July 07, 2025

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

By /s/ Michael W. Stockton

Michael W. Stockton,

Executive Vice President and Principal Executive Officer

Date: July 07, 2025

By /s/ Gregory F. Niland

Gregory F. Niland, Treasurer and

Principal Financial Officer

Date: July 07, 2025

------

## Ex-99.Cert

**CERTIFICATION**

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

1. I have reviewed this report on Form N-CSR of **American Funds College Target Date Series**;

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

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

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

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

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

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

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

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

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

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

Date: July 07, 2025

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

Executive Vice President and Principal Executive Officer

American Funds College Target Date Series

**CERTIFICATION**

I, **Gregory F. Niland**, certify that:

1. I have reviewed this report on Form N-CSR of **American Funds College Target Date Series**;

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

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

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

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

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

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

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

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

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

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

Date: July 07, 2025

<u>/s/ Gregory F. Niland</u> Gregory F. Niland,

Treasurer and Principal Financial Officer

American Funds College Target Date Series

------

## Exhibit 99.906

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

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

MICHAEL W. STOCKTON, Executive Vice President and Principal Executive Officer, and GREGORY F. NILAND, Treasurer and Principal Financial Officer of American Funds College Target Date Series (the "Registrant"), each certify to the best of her or his knowledge that:

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

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

Principal Executive Officer

**American Funds College Target Date Series**

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

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

Date: July 07, 2025

Principal Financial Officer

**American Funds College Target Date Series**

<u>/s/ Gregory F. Niland</u>

Gregory F. Niland, Treasurer and Principal Financial Officer

Date: July 07, 2025

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

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

------