unaudited
| Bonds, notes & other debt instruments 93.56% New York 90.81% State issuers 48.48% | Principal amount (000) | Value (000) | |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 2039 | $2,300 | $1,477 | |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, 0% 2048 | 3,540 | 1,544 | |
| Convention Center Dev. Corp., Rev. Ref. Bonds (Hotel Unit Fee Secured), Series 2015, 5.00% 2030 | 300 | 348 | |
| Convention Center Dev. Corp., Rev. Ref. Bonds (Hotel Unit Fee Secured), Series 2015, 5.00% 2035 | 840 | 967 | |
| Dormitory Auth., FHA insured Mortgage Hospital Rev. Bonds (Maimonides Medical Center), Series 2020, 4.00% 2043 | 500 | 577 | |
| Dormitory Auth., FHA Insured Mortgage Hospital Rev. Bonds (Maimonides Medical Center), Series 2020, 4.00% 2033 | 400 | 471 | |
| Dormitory Auth., FHA Insured Mortgage Hospital Rev. Bonds (Maimonides Medical Center), Series 2020, 4.00% 2034 | 350 | 411 | |
| Dormitory Auth., Rev. Bonds (Cornell University), Series 2020-A-2, 5.00% 2030 | 1,000 | 1,351 | |
| Dormitory Auth., Rev. Bonds (Cornell University), Series 2020-A-2, 5.00% 2031 | 725 | 976 | |
| Dormitory Auth., Rev. Bonds (Culinary Institute of America), Series 2013, 5.50% 2033 | 500 | 547 | |
| Dormitory Auth., Rev. Bonds (Fordham University), Series 2017, 4.00% 2034 | 885 | 1,018 | |
| Dormitory Auth., Rev. Bonds (Icahn School of Medicine at Mount Sinai), Series 2015-A, 5.00% 2031 | 500 | 583 | |
| Dormitory Auth., Rev. Bonds (Icahn School of Medicine at Mount Sinai), Series 2015-A, 5.00% 2035 | 1,000 | 1,161 | |
| Dormitory Auth., Rev. Bonds (Icahn School of Medicine at Mount Sinai), Series 2015-A, 5.00% 2040 | 250 | 288 | |
| Dormitory Auth., Rev. Bonds (Langone Hospitals Obligated Group), Series 2020-A, 4.00% 2053 | 1,625 | 1,886 | |
| Dormitory Auth., Rev. Bonds (Montefiore Obligated Group), Series 2018-A, 5.00% 2030 | 785 | 975 | |
| Dormitory Auth., Rev. Bonds (Montefiore Obligated Group), Series 2018-A, 5.00% 2031 | 1,080 | 1,336 | |
| Dormitory Auth., Rev. Bonds (Montefiore Obligated Group), Series 2020-A, 4.00% 2036 | 400 | 464 | |
| Dormitory Auth., Rev. Bonds (Montefiore Obligated Group), Series 2020-A, 4.00% 2050 | 1,250 | 1,409 | |
| Dormitory Auth., Rev. Bonds (New School), Series 2016-A, 5.00% 2032 | 1,000 | 1,198 | |
| Dormitory Auth., Rev. Bonds (New School), Series 2015-A, 5.00% 2032 | 1,000 | 1,165 | |
| Dormitory Auth., Rev. Bonds (New School), Series 2016-A, 5.00% 2035 | 555 | 660 | |
| Dormitory Auth., Rev. Bonds (Northwell Health Obligated Group), Series 2019-B-3, 5.00% 2048 (put 2026) | 1,000 | 1,190 | |
| Dormitory Auth., Rev. Bonds (NYU Hospitals Center), Series 2014, 5.00% 2022 | 200 | 211 | |
| Dormitory Auth., Rev. Bonds (NYU Hospitals Center), Series 2016-A, 5.00% 2033 | 400 | 476 | |
| Dormitory Auth., Rev. Bonds (NYU Hospitals Center), Series 2014, 5.00% 2034 | 1,000 | 1,112 | |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2017, 5.00% 20311 | 1,000 | 1,170 | |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2015, 5.00% 20321 | 600 | 678 | |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2017, 5.00% 20351 | 1,300 | 1,499 | |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2015, 5.00% 20401 | 1,000 | 1,115 | |
| Dormitory Auth., Rev. Bonds (School Dist. Rev. Bond Fncg. Program), Series 2011-A, 5.00% 2024 (preref. 2021) | 475 | 485 | |
| Dormitory Auth., Rev. Bonds (School Dist. Rev. Bond Fncg. Program), Series 2011-A, 5.00% 2024 | 25 | 25 | |
| Dormitory Auth., Rev. Bonds (Skidmore College), Series 2011-A, 5.50% 2041 | 1,110 | 1,119 | |
| Dormitory Auth., Rev. Bonds (State University of New York Dormitory Facs.), Series 2017-A, 5.00% 2030 | 750 | 928 | |
| Dormitory Auth., Rev. Bonds (State University of New York Dormitory Facs.), Series 2017-A, 5.00% 2032 | 500 | 615 | |
| Dormitory Auth., Rev. Bonds (State University of New York Dormitory Facs.), Series 2019-A, 4.00% 2049 | 1,000 | 1,139 | |
| Dormitory Auth., Rev. Bonds (Touro College and University System Obligated Group), Series 2017, 5.00% 2038 | 500 | 576 | |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (Education), Series 2014-E, 5.00% 2032 | 750 | 875 | |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 2028 | 1,000 | 1,277 | |
American Funds Tax-Exempt Fund of New York —
Page 1 of 11
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| Bonds, notes & other debt instruments (continued) New York (continued) State issuers (continued) | Principal amount (000) | Value (000) | |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-A, 5.00% 2031 | $1,000 | $1,342 | |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2018-A, 5.25% 2037 | 1,000 | 1,283 | |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-A, 4.00% 2039 | 2,000 | 2,387 | |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2017-B, 5.00% 2041 | 750 | 915 | |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 4.00% 2047 | 2,025 | 2,338 | |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-E, 5.00% 2035 | 1,000 | 1,267 | |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2014-A, 5.00% 2038 | 1,000 | 1,127 | |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-A, 5.00% 2039 | 2,275 | 2,815 | |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-E, 5.00% 2039 | 800 | 1,003 | |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-E, 5.00% 2048 | 1,500 | 1,853 | |
| Energy Research and Dev. Auth., Pollution Control Rev. Bonds (Rochester Gas and Electric Corp. Project), Series 1997-A, AMT, 3.00% 2032 (put 2025) | 1,000 | 1,093 | |
| Environmental Facs. Corp., Rev. Green Bonds (Revolving Funds), Series 2016-B, 4.00% 2036 | 1,950 | 2,238 | |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2017, AMT, 2.875% 2044 (put 2029)1 | 1,500 | 1,548 | |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2014-R-2, AMT, 3.125% 2044 (put 2026)1 | 500 | 525 | |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2020-R-1, 2.75% 2050 (put 2025) | 750 | 776 | |
| Housing Fin. Agcy., Affordable Housing Rev. Bonds, Series 2017-M, 3.65% 2042 | 750 | 803 | |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2019-D, 3.55% 2039 | 1,000 | 1,085 | |
| Liberty Dev. Corp., Liberty Rev. Ref. Bonds (3 World Trade Center Project), Series 2014, Class 2, 5.375% 20401 | 350 | 391 | |
| Liberty Dev. Corp., Liberty Rev. Ref. Bonds (3 World Trade Center Project), Series 2014, Class 3, 7.25% 20441 | 375 | 417 | |
| Liberty Dev. Corp., Liberty Rev. Ref. Bonds (4 World Trade Center Project), Series 2011, 5.00% 2031 | 1,500 | 1,537 | |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2015-C, (1-month USD-LIBOR x 0.70 + 0.75%) 0.831% 2033 (put 2023)2 | 1,500 | 1,502 | |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2015-B, 5.00% 2035 | 1,315 | 1,541 | |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2018, 5.00% 2036 | 500 | 631 | |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2015-B, 5.00% 2038 | 750 | 874 | |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2017, 5.00% 2047 | 3,225 | 3,932 | |
| Metropolitan Transportation Auth., Hudson Rail Yards Trust Obligations, Series 2016-A, 5.00% 2051 | 500 | 511 | |
| Metropolitan Transportation Auth., Hudson Rail Yards Trust Obligations, Series 2016-A, 5.00% 2056 | 750 | 813 | |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-C-1, 5.25% 2030 | 280 | 331 | |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2014-D-1, 5.00% 2039 | 305 | 342 | |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-2, 5.00% 2045 (put 2030) | 1,000 | 1,291 | |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2016-A-2, 5.00% 2026 | 1,440 | 1,771 | |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2017-A-1, 5.00% 2027 | 970 | 1,218 | |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2019-C-1, 5.00% 2039 | 1,640 | 2,029 | |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D-3, 4.00% 2049 | 2,100 | 2,390 | |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2019-B, 5.00% 2052 | 1,075 | 1,291 | |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2017-A-1, 5.25% 2057 | 750 | 886 | |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-A-2, 5.00% 2026 | 1,000 | 1,230 | |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 4.00% 2034 | 1,000 | 1,144 | |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2020-E, 4.00% 2045 | 1,000 | 1,143 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 52, AMT, 3.50% 2030 | 405 | 426 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 191, AMT, 3.50% 2034 | 135 | 141 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 194, AMT, 3.50% 2035 | 215 | 225 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 206, AMT, 4.00% 2037 | 410 | 443 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 48, 2.625% 2041 | 520 | 535 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 178, 3.50% 2043 | 135 | 142 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 197, 3.50% 2044 | 430 | 459 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 200, 3.50% 2045 | 155 | 164 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 195, 4.00% 2046 | 825 | 884 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 203, 3.50% 2047 | 600 | 645 | |
American Funds Tax-Exempt Fund of New York —
Page 2 of 11
unaudited
| Bonds, notes & other debt instruments (continued) New York (continued) State issuers (continued) | Principal amount (000) | Value (000) | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 54, 4.00% 2047 | $1,020 | $1,105 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 213, 4.25% 2047 | 410 | 455 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 208, 4.00% 2048 | 395 | 430 | |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 217, 4.00% 2049 | 910 | 1,006 | |
| Port Auth., Consolidated Bonds, Series 212, 4.00% 2038 | 1,000 | 1,180 | |
| Port Auth., Consolidated Bonds, Series 217, 5.00% 2044 | 1,500 | 1,896 | |
| Port Auth., Consolidated Bonds, Series 205, 5.00% 2047 | 1,000 | 1,219 | |
| Port Auth., Consolidated Rev. Ref. Bonds, Series 172, AMT, 5.00% 2034 | 500 | 521 | |
| Port Auth., Consolidated Rev. Ref. Bonds, Series 186, AMT, 5.00% 2044 | 500 | 562 | |
| Power Auth., Rev. Bonds, Series 2020-A, 4.00% 2055 | 2,500 | 2,907 | |
| Power Auth., Rev. Ref. Bonds, Series 2011-A, 5.00% 2038 | 1,500 | 1,539 | |
| Thruway Auth., General Rev. Bonds, Series 2020-N, 4.00% 2047 | 1,500 | 1,741 | |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, 4.00% 2039 | 2,835 | 3,284 | |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, 4.00% 2045 | 3,160 | 3,612 | |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, BAM insured, 4.00% 2050 | 615 | 708 | |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, Assured Guaranty Municipal insured, 4.00% 2053 | 1,015 | 1,164 | |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2016-A, 5.25% 2056 | 250 | 296 | |
| Transportation Dev. Corp., Fac. Rev. Bonds (New York State Thruway Service Areas Project), Series 2021, AMT, 4.00% 2046 | 1,000 | 1,144 | |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (American Airlines, Inc. John F. Kennedy International Airport Project), Series 2020, AMT, 5.375% 2036 | 1,000 | 1,237 | |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-A, AMT, 5.00% 2037 | 600 | 761 | |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-A, AMT, 4.00% 2039 | 750 | 873 | |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 4.00% 2040 | 1,525 | 1,799 | |
| Transportation Dev. Corp., Special Fac. Rev. Ref. Bonds (Terminal One Group Association, LP Project), Series 2015, AMT, 5.00% 2022 | 1,000 | 1,030 | |
| Transportation Dev. Corp., Special Fac. Rev. Ref. Bonds (Terminal One Group Association, LP Project), Series 2015, AMT, 5.00% 2023 | 500 | 537 | |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, 5.00% 2034 | 500 | 566 | |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, 5.00% 2046 | 1,000 | 1,127 | |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, 5.25% 2050 | 500 | 566 | |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2020, AMT, 5.00% 2035 | 1,000 | 1,277 | |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2018, AMT, 4.00% 2036 | 500 | 564 | |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2020, AMT, 5.00% 2040 | 750 | 942 | |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2020, AMT, 4.375% 2045 | 510 | 598 | |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2019-A, 5.00% 2041 | 600 | 751 | |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2018-A, 5.00% 2030 | 650 | 874 | |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2020-A, 5.00% 2054 | 1,250 | 1,577 | |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 2026 | 1,500 | 1,822 | |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2014-A, 5.00% 2027 | 750 | 850 | |
American Funds Tax-Exempt Fund of New York —
Page 3 of 11
unaudited
| Bonds, notes & other debt instruments (continued) New York (continued) State issuers (continued) | Principal amount (000) | Value (000) | |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 2032 | $1,000 | $1,199 | |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 2036 | 1,500 | 1,888 | |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 2049 | 1,000 | 1,163 | |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2019-A, 4.00% 2043 | 1,785 | 2,081 | |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2017, 5.00% 2040 | 750 | 937 | |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2017, 5.00% 2041 | 1,500 | 1,872 | |
| 142,639 | |||
| City, county & other issuers 42.33% | |||
| City of Albany, Capital Resource Corp., Rev. Bonds (Empire Commons Student Housing, Inc. Ref. Project), Series 2016-A, 5.00% 2032 | 400 | 468 | |
| Town of Amherst, Dev. Corp., Fac. Rev. Bonds (Daemen College Projects), Series 2018, 5.00% 2023 | 540 | 582 | |
| Town of Amherst, Dev. Corp., Student Housing Fac. Rev. Ref. Bonds (UBF Faculty-Student Housing Corp. - Greiner and Hadley Rev. Ref. Projects at SUNY Buffalo), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 2030 | 500 | 608 | |
| Town of Brookhaven, Local Dev. Corp., Rev. Bonds (Active Retirement Community Inc.), Series 2020-A, 4.00% 2055 | 750 | 799 | |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 2026 | 500 | 604 | |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 2027 | 750 | 914 | |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 4.00% 2034 | 240 | 264 | |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 2042 | 1,800 | 2,099 | |
| County of Broome, Local Dev. Corp., Rev. Bonds (United Health Services Hospitals, Inc. Project), Series 2020, 4.00% 2050 | 2,000 | 2,252 | |
| Buffalo and Erie County Industrial Land Dev. Corp., Rev. Bonds (Catholic Health System Obligated Group Project), Series 2015, 5.00% 2023 | 1,700 | 1,861 | |
| Buffalo and Erie County Industrial Land Dev. Corp., Rev. Bonds (Catholic Health System Obligated Group Project), Series 2015, 5.00% 2024 | 475 | 539 | |
| Buffalo and Erie County Industrial Land Dev. Corp., Rev. Bonds (Catholic Health System Obligated Group Project), Series 2015, 5.25% 2035 | 725 | 836 | |
| Buffalo and Erie County Industrial Land Dev. Corp., Rev. Bonds (Catholic Health System Obligated Group Project), Series 2015, 5.00% 2040 | 1,050 | 1,198 | |
| Build NYC Resource Corp., Rev. Bonds (Bronx Charter School for Excellence Project), Series 2013-A, 4.00% 2022 | 545 | 559 | |
| Build NYC Resource Corp., Rev. Bonds (Bronx Charter School for Excellence Project), Series 2013-A, 5.50% 2043 | 1,500 | 1,582 | |
| Build NYC Resource Corp., Rev. Ref. Bonds (Albert Einstein School of Medicine, Inc. Project), Series 2015, 5.50% 20451 | 300 | 333 | |
| Build NYC Resource Corp., Solid Waste Disposal Rev. Bonds (Pratt Paper (NY), Inc. Project), Series 2014, AMT, 4.50% 20251 | 315 | 337 | |
| Build NYC Resource Corp., Solid Waste Disposal Rev. Bonds (Pratt Paper (NY), Inc. Project), Series 2014, AMT, 5.00% 20351 | 950 | 1,063 | |
| Village of Dobbs Ferry, Local Dev. Corp., Rev. Bonds (Mercy College Project), Series 2014, 5.00% 2039 | 1,625 | 1,815 | |
| Village of Dobbs Ferry, Local Dev. Corp., Rev. Bonds (Mercy College Project), Series 2014, 5.00% 2044 | 500 | 559 | |
| County of Dutchess, Local Dev. Corp., Rev. Bonds (Health Quest Systems, Inc. Project), Series 2016-B, 4.00% 2041 | 750 | 816 | |
| County of Dutchess, Local Dev. Corp., Rev. Bonds (Health Quest Systems, Inc. Project), Series 2016-B, 5.00% 2046 | 1,500 | 1,706 | |
| County of Dutchess, Local Dev. Corp., Rev. Bonds (Nuvance Health Issue), Series 2019-B, 5.00% 2032 | 905 | 1,144 | |
| County of Dutchess, Local Dev. Corp., Rev. Bonds (Nuvance Health Issue), Series 2019-B, 4.00% 2049 | 1,000 | 1,136 | |
American Funds Tax-Exempt Fund of New York —
Page 4 of 11
unaudited
| Bonds, notes & other debt instruments (continued) New York (continued) City, county & other issuers (continued) | Principal amount (000) | Value (000) | |
| County of Dutchess, Local Dev. Corp., Rev. Ref. Bonds (Health Quest Systems, Inc. Project), Series 2014-A, 5.00% 2028 | $430 | $492 | |
| City of Glen Cove, Local Econ. Assistance Corp., Rev. Bonds (Garvies Point Public Improvement Project), Convertible Capital Appreciation Bonds, Series 2016-C, 0% 2055 (5.62% on 1/1/2024)3 | 500 | 518 | |
| Town of Hempstead, Local Dev. Corp., Rev. Bonds (Hofstra University Project), Series 2011, 5.00% 2027 | 800 | 805 | |
| Town of Hempstead, Local Dev. Corp., Rev. Bonds (Hofstra University Project), Series 2011, 5.00% 2041 | 800 | 805 | |
| Town of Hempstead, Local Dev. Corp., Rev. Ref. Bonds (Molloy College Project), Series 2017, 5.00% 2034 | 810 | 960 | |
| Hudson Yards Infrastructure Corp., Rev. Bonds, Series 2017-A, 5.00% 2033 | 2,700 | 3,269 | |
| Hudson Yards Infrastructure Corp., Rev. Bonds, Series 2017-A, 5.00% 2035 | 1,000 | 1,203 | |
| Hudson Yards Infrastructure Corp., Rev. Bonds, Series 2012-A, 5.25% 2047 | 940 | 943 | |
| Hudson Yards Infrastructure Corp., Rev. Bonds, Series 2012-A, 5.75% 2047 | 430 | 432 | |
| County of Jefferson, Civic Fac. Dev. Corp., Rev. Bonds (Samaritan Medical Center Project), Series 2017-A, 5.00% 2037 | 1,000 | 1,167 | |
| County of Jefferson, Civic Fac. Dev. Corp., Rev. Bonds (Samaritan Medical Center Project), Series 2017-A, 4.00% 2042 | 500 | 531 | |
| County of Jefferson, Civic Fac. Dev. Corp., Rev. Bonds (Samaritan Medical Center Project), Series 2017-A, 4.00% 2047 | 500 | 528 | |
| County of Monroe, Industrial Dev. Corp., Rev. Bonds (Highland Hospital of Rochester Project), Series 2015, 5.00% 2025 | 325 | 380 | |
| County of Monroe, Industrial Dev. Corp., Rev. Bonds (Highland Hospital of Rochester Project), Series 2015, 5.00% 2033 | 430 | 489 | |
| County of Monroe, Industrial Dev. Corp., Rev. Bonds (Highland Hospital of Rochester Project), Series 2015, 5.00% 2034 | 380 | 432 | |
| County of Monroe, Industrial Dev. Corp., Rev. Bonds (Rochester General Hospital Project), Series 2020-A, 4.00% 2046 | 3,000 | 3,427 | |
| County of Monroe, Industrial Dev. Corp., Rev. Bonds (St. Ann’s of Greater Rochester, Inc.), Series 2019, 5.00% 2050 | 290 | 315 | |
| County of Monroe, Industrial Dev. Corp., Rev. Bonds (University of Rochester Project), Series 2017-C, 4.00% 2036 | 1,275 | 1,461 | |
| County of Nassau, G.O. General Improvement Bonds, Series 2017-A, 5.00% 2030 | 1,000 | 1,212 | |
| County of Nassau, Tobacco Settlement Corp., Tobacco Settlement Asset-Backed Bonds, Series 2006-A-3, 5.00% 2035 | 600 | 608 | |
| County of Nassau, Tobacco Settlement Corp., Tobacco Settlement Asset-Backed Bonds, Series 2006-A-3, 5.125% 2046 | 705 | 718 | |
| City of New Rochelle, Local Dev. Rev. Bonds (Iona College Project), Series 2015-A, 5.00% 2045 | 250 | 276 | |
| New York City G.O. Bonds, Series 2016-A, 5.00% 2026 | 1,000 | 1,191 | |
| New York City G.O. Bonds, Series 2018-A, 5.00% 2027 | 1,500 | 1,882 | |
| New York City G.O. Bonds, Series 2016-C, 5.00% 2031 | 1,000 | 1,197 | |
| New York City G.O. Bonds, Series 2018-C, 5.00% 2032 | 1,720 | 2,139 | |
| New York City G.O. Bonds, Series 2015-C, 5.00% 2033 | 1,000 | 1,167 | |
| New York City G.O. Bonds, Series 2017-A-1, 5.00% 2034 | 1,000 | 1,209 | |
| New York City G.O. Bonds, Series 2019-D-1, 5.00% 2037 | 750 | 940 | |
| New York City G.O. Bonds, Series 2020-B-1, 4.00% 2040 | 1,250 | 1,451 | |
| New York City G.O. Bonds, Series 2021-C, 4.00% 2041 | 1,000 | 1,174 | |
| New York City Health and Hospitals Corp., Health System Bonds, Series 2020-A, 5.00% 2029 | 1,200 | 1,548 | |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (8 Spruce Street), Series 2014-E, 3.50% 2048 | 1,670 | 1,695 | |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2021-C-2, 0.70% 2060 (put 2025) | 635 | 634 | |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2020-A-3, 1.125% 2060 (put 2024) | 750 | 755 | |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2017-C-2, 1.70% 2021 | 170 | 170 | |
American Funds Tax-Exempt Fund of New York —
Page 5 of 11
unaudited
| Bonds, notes & other debt instruments (continued) New York (continued) City, county & other issuers (continued) | Principal amount (000) | Value (000) | |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2017-A-1-A, 3.80% 2037 | $885 | $971 | |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2015-H, 2.95% 2045 (put 2026) | 750 | 812 | |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2018-L-2, 2.75% 2050 (put 2023) | 500 | 519 | |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2019-E-2, 1.75% 2059 (put 2023) | 1,000 | 1,009 | |
| New York City Industrial Dev. Agcy., Airport Facs. Rev. Ref. Bonds (Transportation Infrastructure Properties, LLC Obligated Group), Series 2012-A, AMT, 5.00% 2022 | 515 | 545 | |
| New York City Industrial Dev. Agcy., Airport Facs. Rev. Ref. Bonds (Transportation Infrastructure Properties, LLC Obligated Group), Series 2012-A, AMT, 5.00% 2028 | 250 | 261 | |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 3.00% 2034 | 750 | 826 | |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 4.00% 2045 | 1,000 | 1,138 | |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-DD, 5.00% 2031 | 1,100 | 1,512 | |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2017-EE, 5.00% 2033 | 750 | 922 | |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2015-HH, 5.00% 2039 | 500 | 585 | |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-BB-2, 4.00% 2042 | 945 | 1,128 | |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2015-EE, 5.00% 2045 | 500 | 565 | |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2018-BB-1, 5.00% 2046 | 1,250 | 1,530 | |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2017-DD, 5.00% 2047 | 1,055 | 1,287 | |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2020-GG-1, 4.00% 2050 | 2,000 | 2,337 | |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Ref. Bonds, Series 2017-EE, 5.00% 2036 | 750 | 920 | |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2019-S-3, 5.00% 2036 | 1,000 | 1,251 | |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2018-S-4-A, 5.00% 2037 | 750 | 935 | |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2019-A-1, 5.00% 2036 | 2,380 | 2,974 | |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-D-1, 5.00% 2036 | 1,000 | 1,309 | |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-B-1, 4.00% 2040 | 1,500 | 1,771 | |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2018-A-3, 4.00% 2042 | 2,925 | 3,330 | |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2017-F-1, 5.00% 2042 | 1,000 | 1,229 | |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-C-1, 4.00% 2046 | 1,000 | 1,172 | |
| New York City Trust for Cultural Resources, Rev. Ref. Bonds (Lincoln Center for the Performing Arts, Inc.), Series 2020-A, 4.00% 2035 | 1,000 | 1,193 | |
| Niagara Area Dev. Corp., Solid Waste Disposal Fac. Rev. Ref. Bonds (Covanta Project), Series 2018-B, 3.50% 20241 | 650 | 677 | |
| Niagara Area Dev. Corp., Solid Waste Disposal Fac. Rev. Ref. Bonds (Covanta Project), Series 2018-A, AMT, 4.75% 20421 | 1,500 | 1,571 | |
| Niagara Frontier Transportation Auth., Airport Rev. Ref. Bonds (Buffalo Niagara International Airport), Series 2014-A, AMT, 5.00% 2027 | 600 | 669 | |
| Niagara Frontier Transportation Auth., Airport Rev. Ref. Bonds (Buffalo Niagara International Airport), Series 2014-A, AMT, 5.00% 2028 | 500 | 556 | |
| Niagara Frontier Transportation Auth., Airport Rev. Ref. Bonds (Buffalo Niagara International Airport), Series 2014-A, AMT, 5.00% 2029 | 700 | 778 | |
American Funds Tax-Exempt Fund of New York —
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| Bonds, notes & other debt instruments (continued) New York (continued) City, county & other issuers (continued) | Principal amount (000) | Value (000) | |
| Niagara Frontier Transportation Auth., Airport Rev. Ref. Bonds (Buffalo Niagara International Airport), Series 2019-A, AMT, 5.00% 2031 | $1,000 | $1,261 | |
| County of Oneida, Local Dev. Corp. Rev. Bonds (Mohawk Valley Health System Project), Series 2019-A, Assured Guaranty Municipal insured, 4.00% 2038 | 1,000 | 1,145 | |
| County of Oneida, Local Dev. Corp. Rev. Bonds (Mohawk Valley Health System Project), Series 2019-A, Assured Guaranty Municipal insured, 4.00% 2049 | 1,000 | 1,123 | |
| County of Onondaga, Resource Recovery Agcy., Rev. Ref. Bonds, Series 2015-A, AMT, Assured Guaranty Municipal insured, 5.00% 2025 | 500 | 582 | |
| County of Onondaga, Resource Recovery Agcy., Rev. Ref. Bonds, Series 2015-A, AMT, Assured Guaranty Municipal insured, 5.00% 2030 | 1,750 | 2,016 | |
| County of Onondaga, Trust for Cultural Resources, Rev. Bonds, Series 2019, 5.00% 2040 | 1,000 | 1,284 | |
| County of Rockland, G.O. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 2024 | 1,000 | 1,131 | |
| Town of Southold, Local Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2015, 5.00% 2045 | 1,500 | 1,622 | |
| County of Suffolk, Econ. Dev. Corp., Rev. Bonds (Catholic Health Services of Long Island Obligated Group Project), Series 2011, 5.00% 2028 | 850 | 856 | |
| County of Suffolk, Econ. Dev. Corp., Rev. Bonds (Catholic Health Services of Long Island Obligated Group Project), Series 2011, 5.00% 2028 (preref. 2021) | 150 | 151 | |
| County of Suffolk, G.O. Rev. Ref. Bonds, Series 2017-A, Assured Guaranty Municipal insured, 5.00% 2026 | 540 | 648 | |
| Suffolk Tobacco Asset Securitization Corp., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2012-B, 5.00% 2032 | 750 | 772 | |
| County of Tompkins, Dev. Corp., Continuing Care Retirement Community Rev. Bonds (Kendal at Ithaca, Inc.), Series 2014-A, 5.00% 2044 | 915 | 986 | |
| City of Troy, Capital Resource Corp., Rev. Bonds (Rensselaer Polytechnic Institute Project), Series 2015, 5.00% 2027 | 800 | 948 | |
| City of Troy, Capital Resource Corp., Rev. Ref. Bonds (Rensselaer Polytechnic Institute Project), Series 2020-A, 5.00% 2023 | 600 | 662 | |
| City of Troy, Capital Resource Corp., Rev. Ref. Bonds (Rensselaer Polytechnic Institute Project), Series 2020-A, 5.00% 2038 | 1,500 | 1,924 | |
| TSASC, Inc., Tobacco Settlement Bonds, Series 2017-A, 5.00% 2022 | 1,000 | 1,050 | |
| TSASC, Inc., Tobacco Settlement Bonds, Series 2017-A, 5.00% 2025 | 750 | 884 | |
| County of Westchester, Health Care Corp., Rev. Bonds, Series 2011-A, 5.00% 2021 (escrowed to maturity) | 100 | 102 | |
| County of Westchester, Health Care Corp., Rev. Bonds, Series 2010-B, 6.00% 2030 | 130 | 130 | |
| County of Westchester, Local Dev. Corp., Rev. Bonds (Purchase Housing Corp. II Project), Series 2017, 5.00% 2037 | 1,000 | 1,143 | |
| County of Westchester, Local Dev. Corp., Rev. Bonds (Purchase Housing Corp. II Project), Series 2017, 5.00% 2047 | 1,025 | 1,153 | |
| County of Westchester, Local Dev. Corp., Rev. Bonds (Westchester Medical Center Obligated Group Project), Series 2016, 5.00% 2034 | 1,150 | 1,313 | |
| County of Westchester, Local Dev. Corp., Rev. Bonds (Westchester Medical Center Obligated Group Project), Series 2016, 5.00% 2046 | 1,250 | 1,406 | |
| County of Westchester, Local Dev. Corp., Rev. Ref. Bonds (Pace University), Series 2014-A, 5.50% 2042 | 450 | 497 | |
| City of Yonkers, Econ. Dev. Corp., Educational Rev. Bonds (Lamartine/Warburton LLC - Charter School of Educational Excellence Project), Series 2019-A, 5.00% 2049 | 640 | 725 | |
| City of Yonkers, G.O. Bonds, Series 2015-B, Assured Guaranty Municipal insured, 5.00% 2024 | 490 | 563 | |
| 124,556 | |||
| 267,195 | |||
| Guam 1.62% | |||
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2013-C, AMT, 6.375% 2043 | 500 | 537 | |
| G.O. Bonds, Series 2019, AMT, 5.00% 2031 | 845 | 945 | |
| Hotel Occupancy Tax Rev. Ref. Bonds, Series 2011-A, 6.125% 2031 | 500 | 500 | |
| Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 2035 | 1,355 | 1,711 | |
American Funds Tax-Exempt Fund of New York —
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unaudited
| Bonds, notes & other debt instruments (continued) Guam (continued) | Principal amount (000) | Value (000) | |
| Limited Obligation Rev. Ref. Bonds (Section 30), Series 2016-A, 5.00% 2022 | $500 | $533 | |
| Waterworks Auth., Water and Wastewater System Rev. Bonds, Series 2013, 5.00% 2028 | 250 | 270 | |
| Waterworks Auth., Water and Wastewater System Rev. Bonds, Series 2014-A, 5.00% 2029 | 250 | 277 | |
| 4,773 | |||
| Puerto Rico 1.13% | |||
| Highways and Transportation Auth., Highway Rev. Ref. Bonds, Series 2003-AA-1, Assured Guaranty Municipal insured, 4.95% 2026 | 265 | 271 | |
| Highways and Transportation Auth., Transportation Rev. Ref. Bonds, Series 2002-D, Assured Guaranty Municipal insured, 5.00% 2032 | 660 | 678 | |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (Inter American University of Puerto Rico Project), Series 2012, 5.00% 2021 | 200 | 203 | |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (Inter American University of Puerto Rico Project), Series 2012, 5.00% 2031 | 750 | 777 | |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds (Hospital Auxilio Mutuo Obligated Group Project), Series 2011-A, 6.00% 2033 | 250 | 252 | |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 2051 | 5,000 | 1,150 | |
| 3,331 | |||
| Total bonds, notes & other debt instruments (cost: $258,788,000) | 275,299 | ||
| Short-term securities 4.86% Municipals 4.86% | |||
| Dormitory Auth., Rev. Bonds (Cornell University), Series 2019-B, 0.02% 20392 | 11,025 | 11,025 | |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2008-BB-2, 0.03% 20352 | 900 | 900 | |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2014-AA-6, 0.02% 20482 | 1,370 | 1,370 | |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2014-AA-2, 0.02% 20502 | 1,000 | 1,000 | |
| Total short-term securities (cost: $14,295,000) | 14,295 | ||
| Total investment securities 98.42% (cost: $273,083,000) | 289,594 | ||
| Other assets less liabilities 1.58% | 4,656 | ||
| Net assets 100.00% | $294,250 | ||
Futures contracts
| Contracts | Type | Number of contracts | Expiration | Notional amount4 (000) | Value at 4/30/20215 (000) | Unrealized (depreciation) appreciation at 4/30/2021 (000) |
| 5 Year U.S. Treasury Note Futures | Long | 16 | July 2021 | $1,600 | $1,983 | $(1) |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 23 | June 2021 | (2,300) | (3,348) | 51 |
| $50 |
American Funds Tax-Exempt Fund of
New York — Page 8 of 11
unaudited
| 1 | Acquired in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $11,324,000, which represented 3.85% of the net assets of the fund. |
| 2 | Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date. |
| 3 | Step bond; coupon rate may change at a later date. |
| 4 | Notional amount is calculated based on the number of contracts and notional contract size. |
| 5 | Value is calculated based on the notional amount and current market price. |
Valuation disclosures
Capital Research and Management
Company (“CRMC”), the fund’s investment adviser, values the fund’s investments at fair value as defined by accounting principles generally accepted in the United States of America. The net
asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. Security transactions are
recorded by the fund as of the date the trades are executed with brokers.
Methods and inputs — The fund’s investment adviser uses the following methods and inputs to establish the fair value of the fund’s assets and liabilities. Use of particular methods and
inputs may vary over time based on availability and relevance as market and economic conditions evolve.
Fixed-income securities, including
short-term securities, are generally valued at prices obtained from one or more pricing vendors. Vendors value such securities based on one or more of the following inputs: benchmark yields, transactions, bids,
offers, quotations from dealers and trading systems, new issues, spreads, interest rate volatilities, and other relationships observed in the markets among comparable securities; and proprietary pricing models such as
yield measures calculated using factors such as cash flows, financial or collateral performance and other reference data. For certain distressed securities, valuation may include cash flows or liquidation values using
a net present value calculation based on inputs that include, but are not limited to, financial statements and debt contracts.
When the fund’s investment
adviser deems it appropriate to do so (such as when vendor prices are unavailable or deemed to be not representative), fixed-income securities will be valued in good faith at the mean quoted bid and ask prices that
are reasonably and timely available (or bid prices, if ask prices are not available) or at prices for securities of comparable maturity, quality and type. Some securities may be valued based on their effective
maturity or average life, which may be shorter than the stated maturity.
Exchange-traded futures are
generally valued at the official settlement price of the exchange or market on which such instruments are traded, as of the close of business on the day the futures are being valued. The average month-end notional
amount of futures contracts while held was $2,400,000.
Securities and other assets for
which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted
by authority of the fund’s board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to
consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair
value to be assigned to a particular security, such as the type and cost of the security; contractual or legal restrictions on resale of the security; relevant financial or business developments of the issuer;
actively traded similar or related securities; conversion or exchange rights on the security; related corporate actions; significant events occurring after the close of trading in the security; and changes in overall
market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but
before the net asset value of each share class of the fund is determined. Fair valuations and valuations of investments that are not actively trading involve judgment and may differ materially from valuations that
would have been used had greater market activity occurred.
Processes and structure — The fund’s board of trustees has delegated authority to the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment
adviser has established a Joint Fair Valuation Committee (the “Fair Valuation Committee”) to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Fair
Valuation Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation teams. The Fair Valuation Committee reviews
changes in fair value measurements from period to period and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. The Fair
Valuation Committee reports any changes to the fair valuation guidelines to the board of trustees. The fund’s board and audit committee also regularly review reports that describe fair value determinations and
methods.
American Funds Tax-Exempt Fund of New York —
Page 9 of 11
unaudited
The fund’s investment adviser
has also established a Fixed-Income Pricing Review Group to administer and oversee the fixed-income valuation process, including the use of fixed-income pricing vendors. This group regularly reviews pricing vendor
information and market data. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews, including an annual control self-evaluation program facilitated by the
investment adviser’s compliance group.
Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values
are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive
markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3
values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation
levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair
value may not always be quoted prices in an active market. The following tables present the fund’s valuation levels as of April 30, 2021 (dollars in thousands):
| Investment securities | ||||
| Level 1 | Level 2 | Level 3 | Total | |
| Assets: | ||||
| Bonds, notes & other debt instruments: | ||||
| State issuers | $— | $142,639 | $— | $142,639 |
| City, county & other issuers | — | 124,556 | — | 124,556 |
| Guam | — | 4,773 | — | 4,773 |
| Puerto Rico | — | 3,331 | — | 3,331 |
| Short-term securities | — | 14,295 | — | 14,295 |
| Total | $— | $289,594 | $— | $289,594 |
| Other investments* | ||||
| Level 1 | Level 2 | Level 3 | Total | |
| Assets: | ||||
| Unrealized appreciation on futures contracts | $51 | $— | $— | $51 |
| Liabilities: | ||||
| Unrealized depreciation on futures contracts | (1) | — | — | (1) |
| Total | $50 | $— | $— | $50 |
| * | Futures contracts are not included in the investment portfolio. |
| Key to abbreviations and symbol | |
| Agcy. = Agency | Fncg. = Financing |
| AMT = Alternative Minimum Tax | G.O. = General Obligation |
| Auth. = Authority | IAM = Interest at Maturity |
| Certs. of Part. = Certificates of Participation | LIBOR = London Interbank Offered Rate |
| Dept. = Department | LOC = Letter of Credit |
| Dev. = Development | Preref. = Prerefunded |
| Dist. = District | Redev. = Redevelopment |
| Econ. = Economic | Ref. = Refunding |
| Fac. = Facility | Rev. = Revenue |
| Facs. = Facilities | SIFMA = Securities Industry and Financial Markets Association |
| Fin. = Finance | USD/$ = U.S. dollars |
American Funds Tax-Exempt Fund of New York —
Page 10 of 11
unaudited
Investments are not FDIC-insured, nor
are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider
investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be
read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
All Capital Group trademarks
mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
American Funds Distributors, Inc.,
member FINRA.
© 2021 Capital Group. All
rights reserved.
| MFGEFP3-041-0621O-S78010 | American Funds Tax-Exempt Fund of New York — Page 11 of 11 |