American Funds® Multi-Sector Income Fund
unaudited
|
Bonds, notes & other debt instruments 94.37%
Corporate bonds, notes & loans 68.66%
Financials 14.06%
|
|
Principal amount
(000)
|
Value
(000)
|
|
AG Issuer, LLC 6.25% 3/1/20281
|
USD11,575
|
$11,344
|
|
|
AG TTMT Escrow Issuer, LLC 8.625% 9/30/20271
|
16,440
|
17,034
|
|
|
AIB Group PLC 6.608% 9/13/2029 (USD-SOFR + 2.33% on 9/13/2028)1,2
|
3,964
|
4,134
|
|
|
Alliant Holdings Intermediate, LLC 4.25% 10/15/20271
|
10,350
|
9,755
|
|
|
Alliant Holdings Intermediate, LLC 6.75% 10/15/20271
|
18,918
|
18,654
|
|
|
Alliant Holdings Intermediate, LLC 5.875% 11/1/20291
|
12,025
|
11,183
|
|
|
Alliant Holdings Intermediate, LLC 7.00% 1/15/20311
|
2,510
|
2,537
|
|
|
Alpha Bank SA 4.25% 2/13/2030 (5-year EUR Mid-Swap + 4.504% on 2/13/2025)2
|
EUR20,954
|
22,182
|
|
|
Alpha Bank SA 5.50% 6/11/2031 (5-year EUR Mid-Swap + 5.823% on 6/11/2026)2
|
3,046
|
3,231
|
|
|
American Express Co. 5.098% 2/16/2028 (USD-SOFR + 1.00% on 2/16/2027)2
|
USD3,275
|
3,271
|
|
|
American International Group, Inc. 5.125% 3/27/2033
|
9,222
|
9,177
|
|
|
AmWINS Group, Inc. 6.375% 2/15/20291
|
11,120
|
11,187
|
|
|
AmWINS Group, Inc. 4.875% 6/30/20291
|
20,615
|
19,262
|
|
|
Aon Corp. 5.35% 2/28/2033
|
6,127
|
6,163
|
|
|
Aon North America, Inc. 5.15% 3/1/2029
|
1,450
|
1,459
|
|
|
Aon North America, Inc. 5.30% 3/1/2031
|
1,075
|
1,084
|
|
|
Aon North America, Inc. 5.45% 3/1/2034
|
15,055
|
15,237
|
|
|
Aon North America, Inc. 5.75% 3/1/2054
|
2,125
|
2,181
|
|
|
Aretec Group, Inc. 7.50% 4/1/20291
|
25,184
|
24,003
|
|
|
Aretec Group, Inc. 10.00% 8/15/20301
|
11,095
|
12,133
|
|
|
AssuredPartners, Inc. 5.625% 1/15/20291
|
11,273
|
10,397
|
|
|
Bangkok Bank Public Co., Ltd. 4.45% 9/19/2028
|
200
|
195
|
|
|
Bangkok Bank Public Co., Ltd. 3.733% 9/25/2034
(5-year UST Yield Curve Rate T Note Constant Maturity + 1.90% on 9/25/2029)2
|
23,400
|
20,885
|
|
|
Bangkok Bank Public Co., Ltd. 3.466% 9/23/2036
(5-year UST Yield Curve Rate T Note Constant Maturity + 2.15% on 9/23/2031)2
|
13,600
|
11,484
|
|
|
Bank of America Corp. 4.948% 7/22/2028 (USD-SOFR + 2.04% on 7/22/2027)2
|
20,774
|
20,623
|
|
|
Bank of America Corp. 5.288% 4/25/2034 (USD-SOFR + 1.91% on 4/25/2033)2
|
13,036
|
13,002
|
|
|
Bank of America Corp. 5.872% 9/15/2034 (USD-SOFR + 1.84% on 9/15/2033)2
|
7,566
|
7,850
|
|
|
Bank of America Corp. 5.468% 1/23/2035 (3-month USD CME Term SOFR + 1.65% on 1/23/2034)2
|
12,342
|
12,427
|
|
|
Bank of East Asia, Ltd. 4.875% 4/22/2032
(5-year UST Yield Curve Rate T Note Constant Maturity + 2.30% on 4/22/2027)2
|
7,000
|
6,583
|
|
|
Bank of East Asia, Ltd. 5.825% junior subordinated perpetual bonds
(5-year UST Yield Curve Rate T Note Constant Maturity + 5.527% on 10/21/2025)2
|
4,610
|
4,472
|
|
|
Bank of New York Mellon Corp. 4.975% 3/14/2030 (USD-SOFR + 1.085% on 3/14/2029)2
|
723
|
724
|
|
|
Bank of New York Mellon Corp. 5.188% 3/14/2035 (USD-SOFR + 1.418% on 3/14/2034)2
|
10,477
|
10,433
|
|
|
BBVA Bancomer SA 5.875% 9/13/2034
(5-year UST Yield Curve Rate T Note Constant Maturity + 4.308% on 9/13/2029)2
|
17,200
|
16,288
|
|
|
BBVA Bancomer SA 8.45% 6/29/2038
(5-year UST Yield Curve Rate T Note Constant Maturity + 4.661% on 6/29/2033)1,2
|
13,815
|
14,597
|
|
|
BBVA Bancomer SA 8.45% 6/29/2038
(5-year UST Yield Curve Rate T Note Constant Maturity + 4.661% on 6/29/2033)2
|
9,733
|
10,284
|
|
|
BBVA Bancomer, SA 8.125% 1/8/20391,2
|
4,267
|
4,424
|
|
|
BlackRock Funding, Inc. 4.70% 3/14/2029
|
501
|
502
|
|
|
BlackRock Funding, Inc. 5.00% 3/14/2034
|
11,700
|
11,753
|
|
American Funds Multi-Sector Income Fund — Page 1 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Financials (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
BlackRock Funding, Inc. 5.25% 3/14/2054
|
USD19,536
|
$19,650
|
|
|
Block, Inc. 2.75% 6/1/2026
|
5,105
|
4,806
|
|
|
Block, Inc. 3.50% 6/1/2031
|
2,323
|
2,024
|
|
|
Blue Owl Credit Income Corp. 4.70% 2/8/2027
|
2,171
|
2,061
|
|
|
BNP Paribas SA 2.159% 9/15/2029 (USD-SOFR + 1.218% on 9/15/2028)1,2
|
283
|
247
|
|
|
BNP Paribas SA 5.738% 2/20/2035 (USD-SOFR + 1.88% on 2/20/2034)1,2
|
30,000
|
30,223
|
|
|
Boost Newco Borrower, LLC 7.50% 1/15/20311
|
19,050
|
19,956
|
|
|
BPCE SA 2.277% 1/20/2032 (USD-SOFR + 1.312% on 1/20/2031)1,2
|
20,870
|
16,933
|
|
|
BPCE SA 7.003% 10/19/2034 (USD-SOFR + 2.59% on 10/19/2033)1,2
|
1,460
|
1,590
|
|
|
Bread Financial Holdings, Inc. 9.75% 3/15/20291
|
9,445
|
9,838
|
|
|
CaixaBank, SA 6.84% 9/13/2034 (USD-SOFR + 2.77% on 9/13/2033)1,2
|
18,325
|
19,600
|
|
|
CaixaBank, SA 6.037% 6/15/2035 (USD-SOFR + 2.26% on 9/15/2034)1,2
|
13,750
|
13,878
|
|
|
Capital One Financial Corp. 5.468% 2/1/2029 (USD-SOFR + 2.08% on 2/1/2028)2
|
4,758
|
4,744
|
|
|
Capital One Financial Corp. 5.70% 2/1/2030 (USD-SOFR + 1.905% on 2/1/2029)2
|
33,997
|
34,295
|
|
|
Capital One Financial Corp. 6.377% 6/8/2034 (USD-SOFR + 2.86% on 6/8/2033)2
|
16,575
|
17,224
|
|
|
Capital One Financial Corp. 6.051% 2/1/2035 (USD-SOFR + 2.26% on 2/1/2034)2
|
55,143
|
56,174
|
|
|
Charles Schwab Corp. (The) 5.853% 5/19/2034 (USD-SOFR + 2.50% on 5/19/2033)2
|
4,306
|
4,412
|
|
|
China Ping An Insurance Overseas (Holdings), Ltd. 2.85% 8/12/2031
|
1,700
|
1,412
|
|
|
Chubb INA Holdings, Inc. 5.00% 3/15/2034
|
12,579
|
12,629
|
|
|
Citigroup, Inc. 5.174% 2/13/2030 (USD-SOFR + 1.364% on 2/13/2029)2
|
14,425
|
14,362
|
|
|
Citigroup, Inc. 2.52% 11/3/2032 (USD-SOFR + 1.177% on 11/3/2031)2
|
20
|
16
|
|
|
Citigroup, Inc. 3.057% 1/25/2033 (USD-SOFR + 1.351% on 1/25/2032)2
|
5,053
|
4,297
|
|
|
Citigroup, Inc. 3.785% 3/17/2033 (USD-SOFR + 1.939% on 3/17/2032)2
|
20,010
|
17,883
|
|
|
Citigroup, Inc. 4.91% 5/24/2033 (USD-SOFR + 2.086% on 5/24/2032)2
|
6,932
|
6,686
|
|
|
Citigroup, Inc. 6.27% 11/17/2033 (USD-SOFR + 2.338% on 11/17/2032)2
|
9,917
|
10,478
|
|
|
Citigroup, Inc. 6.174% 5/25/2034 (USD-SOFR + 2.661% on 5/25/2033)2
|
9,225
|
9,373
|
|
|
Citizens Financial Group, Inc. 5.841% 1/23/2030 (USD-SOFR + 2.01% on 1/23/2029)2
|
10,000
|
9,990
|
|
|
CMB International Leasing Management, Ltd. 2.75% 8/12/2030
|
5,505
|
4,770
|
|
|
Coinbase Global, Inc. 3.375% 10/1/20281
|
15,303
|
13,128
|
|
|
Coinbase Global, Inc. 3.625% 10/1/20311
|
15,070
|
12,186
|
|
|
Compass Group Diversified Holdings, LLC 5.25% 4/15/20291
|
31,455
|
29,920
|
|
|
Compass Group Diversified Holdings, LLC 5.00% 1/15/20321
|
11,605
|
10,384
|
|
|
Corebridge Financial, Inc. 3.90% 4/5/2032
|
12,896
|
11,612
|
|
|
Corebridge Financial, Inc. 4.35% 4/5/2042
|
1,622
|
1,370
|
|
|
Corebridge Financial, Inc. 4.40% 4/5/2052
|
8,947
|
7,304
|
|
|
Danske Bank AS 4.298% 4/1/2028
(1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on 4/1/2027)1,2
|
3,450
|
3,330
|
|
|
Deutsche Bank AG 2.552% 1/7/2028 (USD-SOFR + 1.318% on 1/7/2027)2
|
7,299
|
6,704
|
|
|
Deutsche Bank AG 6.72% 1/18/2029 (USD-SOFR + 3.18% on 1/18/2028)2
|
10,207
|
10,562
|
|
|
Deutsche Bank AG 6.819% 11/20/2029 (USD-SOFR + 2.51% on 11/20/2028)2
|
7,425
|
7,766
|
|
|
Fifth Third Bancorp 6.339% 7/27/2029 (USD-SOFR + 2.34% on 7/27/2028)2
|
5,020
|
5,177
|
|
|
Fifth Third Bancorp 5.631% 1/29/2032 (USD-SOFR + 1.84% on 1/29/2031)2
|
10,611
|
10,629
|
|
|
Five Corners Funding Trust III 5.791% 2/15/20331
|
5,520
|
5,696
|
|
|
Goldman Sachs Group, Inc. 3.615% 3/15/2028 (USD-SOFR + 1.846% on 3/15/2027)2
|
9,660
|
9,243
|
|
|
Goldman Sachs Group, Inc. 6.484% 10/24/2029 (USD-SOFR + 1.77% on 10/24/2028)2
|
9,987
|
10,511
|
|
|
Goldman Sachs Group, Inc. 1.992% 1/27/2032 (USD-SOFR + 1.09% on 1/27/2031)2
|
6,831
|
5,530
|
|
|
Goldman Sachs Group, Inc. 2.615% 4/22/2032 (USD-SOFR + 1.281% on 4/22/2031)2
|
3,191
|
2,679
|
|
|
Goldman Sachs Group, Inc. 2.65% 10/21/2032 (USD-SOFR + 1.264% on 10/21/2031)2
|
16,449
|
13,691
|
|
|
Goldman Sachs Group, Inc. 3.102% 2/24/2033 (USD-SOFR + 1.41% on 2/24/2032)2
|
25,655
|
21,949
|
|
|
Goldman Sachs Group, Inc. 3.436% 2/24/2043 (USD-SOFR + 1.632% on 2/24/2042)2
|
3,010
|
2,333
|
|
|
GTCR (AP) Finance, Inc. 8.00% 5/15/20271
|
9,122
|
9,159
|
|
|
HDFC Bank, Ltd. 3.70% junior subordinated perpetual bonds
(5-Year UST Yield Curve Rate T Note Constant Maturity + 2.925% on 2/25/2027)1,2
|
2,000
|
1,846
|
|
|
Hightower Holding, LLC 6.75% 4/15/20291
|
12,115
|
11,397
|
|
American Funds Multi-Sector Income Fund — Page 2 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Financials (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Howden UK Refinance PLC 7.25% 2/15/20311
|
USD26,375
|
$26,502
|
|
|
Howden UK Refinance 2 PLC 8.125% 2/15/20321
|
25,785
|
26,028
|
|
|
HSBC Holdings PLC 2.206% 8/17/2029 (USD-SOFR + 1.285% on 8/17/2028)2
|
2,093
|
1,835
|
|
|
HSBC Holdings PLC 2.804% 5/24/2032 (USD-SOFR + 1.187% on 5/24/2031)2
|
30,721
|
25,789
|
|
|
HSBC Holdings PLC 2.871% 11/22/2032 (USD-SOFR + 1.41% on 11/22/2031)2
|
3,892
|
3,253
|
|
|
HSBC Holdings PLC 7.399% 11/13/2034 (USD-SOFR + 3.02% on 11/13/2033)2
|
9,260
|
10,133
|
|
|
HSBC Holdings PLC 5.719% 3/4/2035 (USD-SOFR + 1.78% on 3/4/2034)2
|
5,748
|
5,820
|
|
|
HSBC Holdings PLC 6.332% 3/9/2044 (USD-SOFR + 2.65% on 3/9/2043)2
|
32,763
|
35,162
|
|
|
HUB International, Ltd. 5.625% 12/1/20291
|
12,508
|
11,740
|
|
|
HUB International, Ltd. 7.25% 6/15/20301
|
26,381
|
27,130
|
|
|
HUB International, Ltd. 7.375% 1/31/20321
|
12,035
|
12,124
|
|
|
HUB International, Ltd., Term Loan B,
(3-month USD CME Term SOFR + 3.25%) 8.574% 6/20/20303,4
|
4,100
|
4,105
|
|
|
Huntington Bancshares, Inc. 6.208% 8/21/2029 (USD-SOFR + 2.02% on 8/21/2028)2
|
14,550
|
14,901
|
|
|
Iron Mountain Information Management Services, Inc. 5.00% 7/15/20321
|
17,645
|
16,132
|
|
|
JPMorgan Chase & Co. 1.04% 2/4/2027 (USD-SOFR + 0.695% on 2/4/2026)2
|
5,350
|
4,952
|
|
|
JPMorgan Chase & Co. 4.851% 7/25/2028 (USD-SOFR + 1.99% on 7/25/2027)2
|
12,655
|
12,552
|
|
|
JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031)2
|
2,656
|
2,165
|
|
|
JPMorgan Chase & Co. 5.35% 6/1/2034 (USD-SOFR + 1.845% on 6/1/2033)2
|
62
|
62
|
|
|
JPMorgan Chase & Co. 5.336% 1/23/2035 (USD-SOFR + 1.62% on 1/23/2034)2
|
5,545
|
5,569
|
|
|
Kasikornbank PCL (Hong Kong Branch) 3.343% 10/2/2031
(5-year UST Yield Curve Rate T Note Constant Maturity + 1.70% on 10/2/2026)2
|
29,100
|
27,081
|
|
|
Korea Exchange Bank 3.25% 3/30/20271
|
4,110
|
3,906
|
|
|
Korea Exchange Bank 3.25% 3/30/2027
|
3,890
|
3,696
|
|
|
Lloyds Banking Group PLC 5.985% 8/7/2027
(1-year UST Yield Curve Rate T Note Constant Maturity + 1.48% on 8/7/2026)2
|
4,000
|
4,039
|
|
|
Lloyds Banking Group PLC 5.679% 1/5/2035
(1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on 1/5/2034)2
|
27,169
|
27,346
|
|
|
LPL Holdings, Inc. 4.625% 11/15/20271
|
3,009
|
2,890
|
|
|
LPL Holdings, Inc. 4.00% 3/15/20291
|
13,325
|
12,259
|
|
|
LPL Holdings, Inc. 4.375% 5/15/20311
|
5,945
|
5,416
|
|
|
MetLife, Inc. 5.375% 7/15/2033
|
4,471
|
4,566
|
|
|
Metropolitan Life Global Funding I 5.15% 3/28/20331
|
1,808
|
1,811
|
|
|
Morgan Stanley 5.123% 2/1/2029 (USD-SOFR + 1.73% on 2/1/2028)2
|
4,758
|
4,748
|
|
|
Morgan Stanley 5.164% 4/20/2029 (USD-SOFR + 1.59% on 4/20/2028)2
|
1,423
|
1,422
|
|
|
Morgan Stanley 1.794% 2/13/2032 (USD-SOFR + 1.034% on 2/13/2031)2
|
2,804
|
2,242
|
|
|
Morgan Stanley 2.511% 10/20/2032 (USD-SOFR + 1.20% on 10/20/2031)2
|
459
|
380
|
|
|
Morgan Stanley 4.889% 7/20/2033 (USD-SOFR + 2.077% on 7/20/2032)2
|
2,810
|
2,726
|
|
|
Morgan Stanley 5.25% 4/21/2034 (USD-SOFR + 1.87% on 4/21/2033)2
|
14,746
|
14,636
|
|
|
Morgan Stanley 5.424% 7/21/2034 (USD-SOFR + 1.88% on 7/21/2033)2
|
38,080
|
38,214
|
|
|
Morgan Stanley 6.627% 11/1/2034 (USD-SOFR + 2.05% on 11/1/2033)2
|
5,787
|
6,335
|
|
|
Morgan Stanley 5.466% 1/18/2035 (USD-SOFR + 1.73% on 1/18/2034)2
|
6,309
|
6,368
|
|
|
Morgan Stanley 5.942% 2/7/2039 (5-year UST Yield Curve Rate T Note Constant Maturity
+ 1.80% on 2/7/2039)2
|
6,416
|
6,381
|
|
|
Nasdaq, Inc. 5.55% 2/15/2034
|
6,000
|
6,105
|
|
|
Nasdaq, Inc. 5.95% 8/15/2053
|
8,000
|
8,436
|
|
|
Nasdaq, Inc. 6.10% 6/28/2063
|
5,000
|
5,336
|
|
|
Navient Corp. 5.00% 3/15/2027
|
9,220
|
8,840
|
|
|
Navient Corp. 4.875% 3/15/2028
|
5,190
|
4,842
|
|
|
Navient Corp. 5.50% 3/15/2029
|
3,330
|
3,104
|
|
|
Navient Corp. 9.375% 7/25/2030
|
14,000
|
14,991
|
|
|
Navient Corp. 11.50% 3/15/2031
|
12,580
|
14,015
|
|
|
Navient Corp. 5.625% 8/1/2033
|
26,875
|
22,271
|
|
|
New York Life Global Funding 4.90% 6/13/20281
|
4,990
|
4,987
|
|
|
New York Life Global Funding 4.55% 1/28/20331
|
4,621
|
4,463
|
|
American Funds Multi-Sector Income Fund — Page 3 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Financials (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
NFP Corp. 6.875% 8/15/20281
|
USD14,269
|
$14,462
|
|
|
Northwestern Mutual Life Insurance Co. (The) 4.90% 6/12/20281
|
1,990
|
1,981
|
|
|
OneMain Finance Corp. 7.125% 3/15/2026
|
1,385
|
1,411
|
|
|
Osaic Holdings, Inc. 10.75% 8/1/20271
|
7,171
|
7,437
|
|
|
Osaic Holdings, Inc., Term Loan B,
(3-month USD CME Term SOFR + 4.50%) 9.827% 8/17/20283,4
|
6,444
|
6,466
|
|
|
Owl Rock Capital Corp. 3.75% 7/22/2025
|
1,063
|
1,032
|
|
|
Oxford Finance, LLC 6.375% 2/1/20271
|
7,076
|
6,717
|
|
|
PayPal Holdings, Inc. 5.05% 6/1/2052
|
6,677
|
6,349
|
|
|
PayPal Holdings, Inc. 5.25% 6/1/2062
|
3,235
|
3,101
|
|
|
PNC Financial Services Group, Inc. 5.30% 1/21/2028 (USD-SOFR + 1.342% on 1/21/2027)2
|
2,900
|
2,904
|
|
|
PNC Financial Services Group, Inc. 5.582% 6/12/2029 (USD-SOFR + 1.841% on 6/12/2028)2
|
5,942
|
6,016
|
|
|
PNC Financial Services Group, Inc. 6.037% 10/28/2033 (USD-SOFR + 2.14% on 10/28/2032)2
|
3,126
|
3,234
|
|
|
PNC Financial Services Group, Inc. 5.939% 8/18/2034 (USD-SOFR + 1.946% on 8/18/2033)2
|
16,543
|
16,982
|
|
|
PNC Financial Services Group, Inc. 6.875% 10/20/2034 (USD-SOFR + 2.284% on 10/20/2033)2
|
49,939
|
54,713
|
|
|
PNC Financial Services Group, Inc. 5.676% 1/22/2035 (USD-SOFR + 1.902% on 1/22/2034)2
|
5,850
|
5,906
|
|
|
Power Finance Corp., Ltd. 6.15% 12/6/2028
|
1,200
|
1,233
|
|
|
Power Finance Corp., Ltd. 4.50% 6/18/2029
|
3,300
|
3,167
|
|
|
Power Finance Corp., Ltd. 3.90% 9/16/2029
|
2,700
|
2,494
|
|
|
PT Bank Negara Indonesia (Persero) Tbk 4.30% junior subordinated perpetual bonds
(5-year UST Yield Curve Rate T Note Constant Maturity + 3.466% on 3/24/2027)2
|
12,800
|
11,901
|
|
|
Rede D’Or Finance SARL 4.50% 1/22/20301
|
1,938
|
1,756
|
|
|
Ryan Specialty Group, LLC 4.375% 2/1/20301
|
15,145
|
14,174
|
|
|
State Street Corp. 4.821% 1/26/2034 (USD-SOFR + 1.567% on 1/26/2033)2
|
27,949
|
27,212
|
|
|
State Street Corp. 5.159% 5/18/2034 (USD-SOFR + 1.89% on 5/18/2033)2
|
7,062
|
7,035
|
|
|
Sumitomo Mitsui Financial Group, Inc. 5.80% 7/13/2028
|
8,300
|
8,555
|
|
|
SVB Financial Group 4.70% junior subordinated perpetual bonds
(5-year UST Yield Curve Rate T Note Constant Maturity + 3.064% on 11/15/2031)2,5
|
3,843
|
65
|
|
|
Synchrony Financial 2.875% 10/28/2031
|
15,000
|
11,980
|
|
|
Synchrony Financial 7.25% 2/2/2033
|
15,000
|
14,908
|
|
|
Travelers Companies, Inc. 5.45% 5/25/2053
|
1,333
|
1,382
|
|
|
Truist Financial Corp. 7.161% 10/30/2029 (USD-SOFR + 2.446% on 10/30/2028)2
|
3,213
|
3,427
|
|
|
Truist Financial Corp. 5.867% 6/8/2034 (USD-SOFR + 2.361% on 6/8/2033)2
|
27,931
|
28,284
|
|
|
Truist Financial Corp. 5.711% 1/24/2035 (USD-SOFR + 1.922% on 1/24/2034)2
|
18,011
|
18,097
|
|
|
Truist Insurance Holdings, LLC, Term Loan,
(1-month USD CME Term SOFR + 4.75%) 10.073% 3/8/20323,4
|
33,610
|
33,862
|
|
|
U.S. Bancorp 4.653% 2/1/2029 (USD-SOFR + 1.23% on 2/1/2028)2
|
8,866
|
8,694
|
|
|
U.S. Bancorp 4.839% 2/1/2034 (USD-SOFR + 1.60% on 2/1/2033)2
|
5,938
|
5,641
|
|
|
U.S. Bancorp 5.836% 6/12/2034 (USD-SOFR + 2.26% on 6/10/2033)2
|
5,143
|
5,244
|
|
|
U.S. Bancorp 5.678% 1/23/2035 (USD-SOFR + 1.86% on 1/23/2034)2
|
16,125
|
16,289
|
|
|
UBS Group AG 4.194% 4/1/2031 (USD-SOFR + 3.73% on 4/1/2030)1,2
|
13,027
|
12,104
|
|
|
UBS Group AG 3.091% 5/14/2032 (USD-SOFR + 1.73% on 5/14/2031)1,2
|
24,025
|
20,447
|
|
|
UBS Group AG 5.699% 2/8/2035
(1-year UST Yield Curve Rate T Note Constant Maturity + 1.77% on 2/8/2034)1,2
|
17,095
|
17,189
|
|
|
USI, Inc. 7.50% 1/15/20321
|
6,050
|
6,069
|
|
|
Wells Fargo & Co. 5.198% 1/23/2030 (USD-SOFR + 1.50% on 1/23/2029)2
|
3,414
|
3,408
|
|
|
Wells Fargo & Co. 4.478% 4/4/2031 (USD-SOFR + 4.032% on 4/4/2030)2
|
39,700
|
38,030
|
|
|
Wells Fargo & Co. 5.389% 4/24/2034 (USD-SOFR + 2.02% on 4/24/2033)2
|
15,870
|
15,777
|
|
|
Wells Fargo & Co. 5.557% 7/25/2034 (USD-SOFR + 1.99% on 7/25/2033)2
|
34,405
|
34,553
|
|
|
Wells Fargo & Co. 6.491% 10/23/2034 (USD-SOFR + 2.06% on 10/23/2033)2
|
12,684
|
13,611
|
|
|
Wells Fargo & Co. 4.611% 4/25/2053 (USD-SOFR + 2.13% on 4/25/2052)2
|
3,649
|
3,227
|
|
|
Xiaomi Best Time International, Ltd. 2.875% 7/14/2031
|
3,500
|
2,916
|
|
American Funds Multi-Sector Income Fund — Page 4 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Financials (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Xiaomi Best Time International, Ltd. 2.875% 7/14/20311
|
USD1,805
|
$1,504
|
|
|
Xiaomi Best Time International, Ltd. 4.10% 7/14/20511
|
1,120
|
802
|
|
|
|
|
|
2,009,345
|
|
Energy 10.09%
|
|
|
|
|
3R Lux SARL 9.75% 2/5/20311
|
16,295
|
17,067
|
|
|
AI Candelaria (Spain), SLU 5.75% 6/15/20331
|
2,135
|
1,734
|
|
|
Apache Corp. 4.625% 11/15/2025
|
985
|
952
|
|
|
Apache Corp. 4.25% 1/15/2030
|
4,000
|
3,707
|
|
|
Apache Corp. 5.10% 9/1/2040
|
6,770
|
5,814
|
|
|
Apache Corp. 5.25% 2/1/2042
|
4,450
|
3,758
|
|
|
Ascent Resources Utica Holdings, LLC 7.00% 11/1/20261
|
5,155
|
5,171
|
|
|
Ascent Resources Utica Holdings, LLC 8.25% 12/31/20281
|
5,077
|
5,219
|
|
|
Ascent Resources Utica Holdings, LLC 5.875% 6/30/20291
|
5,165
|
4,929
|
|
|
Baytex Energy Corp. 8.50% 4/30/20301
|
2,060
|
2,153
|
|
|
Baytex Energy Corp. 7.375% 3/15/20321
|
15,760
|
15,932
|
|
|
BIP-V Chinook Holdco, LLC 5.50% 6/15/20311
|
13,735
|
12,992
|
|
|
Borr IHC, Ltd. 10.00% 11/15/20281
|
34,281
|
35,799
|
|
|
Borr IHC, Ltd. 10.375% 11/15/20301
|
12,500
|
13,063
|
|
|
BP Capital Markets America, Inc. 4.893% 9/11/2033
|
21,757
|
21,615
|
|
|
California Resources Corp. 7.125% 2/1/20261
|
12,000
|
12,079
|
|
|
Callon Petroleum Co. 7.50% 6/15/20301
|
5,692
|
6,037
|
|
|
Cenovus Energy, Inc. 5.375% 7/15/2025
|
172
|
171
|
|
|
Cheniere Energy Partners, LP 4.00% 3/1/2031
|
1,340
|
1,219
|
|
|
Cheniere Energy Partners, LP 5.95% 6/30/2033
|
25,000
|
25,580
|
|
|
Chesapeake Energy Corp. 5.50% 2/1/20261
|
3,110
|
3,092
|
|
|
Chesapeake Energy Corp. 5.875% 2/1/20291
|
17,180
|
17,054
|
|
|
Chesapeake Energy Corp. 6.75% 4/15/20291
|
1,280
|
1,295
|
|
|
Chevron Corp. 2.236% 5/11/2030
|
5,035
|
4,407
|
|
|
Chevron Corp. 3.078% 5/11/2050
|
5,214
|
3,748
|
|
|
CITGO Petroleum Corp. 8.375% 1/15/20291
|
8,040
|
8,454
|
|
|
Civitas Resources, Inc. 5.00% 10/15/20261
|
12,815
|
12,539
|
|
|
Civitas Resources, Inc. 8.375% 7/1/20281
|
15,000
|
15,809
|
|
|
Civitas Resources, Inc. 8.625% 11/1/20301
|
4,200
|
4,513
|
|
|
Civitas Resources, Inc. 8.75% 7/1/20311
|
25,040
|
26,826
|
|
|
CNX Resources Corp. 6.00% 1/15/20291
|
8,304
|
8,138
|
|
|
CNX Resources Corp. 7.375% 1/15/20311
|
5,085
|
5,183
|
|
|
CNX Resources Corp. 7.25% 3/1/20321
|
15,055
|
15,318
|
|
|
Comstock Resources, Inc. 6.75% 3/1/20291
|
10,215
|
9,751
|
|
|
Comstock Resources, Inc. 5.875% 1/15/20301
|
19,635
|
17,799
|
|
|
ConocoPhillips Co. 3.80% 3/15/2052
|
1,311
|
1,025
|
|
|
ConocoPhillips Co. 5.30% 5/15/2053
|
4,612
|
4,583
|
|
|
ConocoPhillips Co. 5.55% 3/15/2054
|
4,790
|
4,940
|
|
|
Cosan Luxembourg SA 7.50% 6/27/20301
|
4,000
|
4,150
|
|
|
Crescent Energy Finance, LLC 9.25% 2/15/20281
|
31,295
|
33,070
|
|
|
Crescent Energy Finance, LLC 7.625% 4/1/20321
|
5,875
|
5,924
|
|
|
DT Midstream, Inc. 4.125% 6/15/20291
|
1,755
|
1,615
|
|
|
DT Midstream, Inc. 4.375% 6/15/20311
|
10,350
|
9,381
|
|
|
Ecopetrol SA 6.875% 4/29/2030
|
5,990
|
5,852
|
|
|
Ecopetrol SA 4.625% 11/2/2031
|
250
|
208
|
|
|
Ecopetrol SA 8.875% 1/13/2033
|
25,585
|
27,078
|
|
|
Ecopetrol SA 8.375% 1/19/2036
|
9,145
|
9,237
|
|
|
Enbridge, Inc. 6.70% 11/15/2053
|
11,415
|
12,912
|
|
|
Encino Acquisition Partners Holdings, LLC 8.50% 5/1/20281
|
540
|
546
|
|
American Funds Multi-Sector Income Fund — Page 5 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Energy (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Energean Israel Finance, Ltd. 5.875% 3/30/20311
|
USD930
|
$818
|
|
|
Energy Transfer, LP 6.00% 2/1/20291
|
1,165
|
1,176
|
|
|
Energy Transfer, LP 8.00% 4/1/20291
|
7,745
|
8,052
|
|
|
Energy Transfer, LP 6.40% 12/1/2030
|
9,175
|
9,691
|
|
|
Energy Transfer, LP 7.375% 2/1/20311
|
291
|
305
|
|
|
Energy Transfer, LP 6.55% 12/1/2033
|
11,828
|
12,705
|
|
|
Energy Transfer, LP 5.95% 5/15/2054
|
13,000
|
12,981
|
|
|
EQM Midstream Partners, LP 6.00% 7/1/20251
|
2,025
|
2,029
|
|
|
EQM Midstream Partners, LP 7.50% 6/1/20271
|
232
|
238
|
|
|
EQM Midstream Partners, LP 6.50% 7/1/20271
|
8,175
|
8,255
|
|
|
EQM Midstream Partners, LP 4.50% 1/15/20291
|
8,195
|
7,692
|
|
|
EQM Midstream Partners, LP 6.375% 4/1/20291
|
3,175
|
3,201
|
|
|
EQM Midstream Partners, LP 7.50% 6/1/20301
|
5,167
|
5,528
|
|
|
EQM Midstream Partners, LP 4.75% 1/15/20311
|
9,671
|
9,003
|
|
|
EQM Midstream Partners, LP 6.50% 7/15/2048
|
1,150
|
1,154
|
|
|
EQT Corp. 3.625% 5/15/20311
|
1,554
|
1,369
|
|
|
Exxon Mobil Corp. 2.61% 10/15/2030
|
49,000
|
43,443
|
|
|
FORESEA Holding SA 7.50% 6/15/2030
|
3,680
|
3,462
|
|
|
Galaxy Pipeline Assets Bidco, Ltd. 2.94% 9/30/2040
|
11,814
|
9,501
|
|
|
Genesis Energy, LP 8.00% 1/15/2027
|
12,251
|
12,405
|
|
|
Genesis Energy, LP 8.25% 1/15/2029
|
5,895
|
6,057
|
|
|
Genesis Energy, LP 8.875% 4/15/2030
|
6,849
|
7,175
|
|
|
GeoPark, Ltd. 5.50% 1/17/2027
|
10,645
|
9,677
|
|
|
Global Partners, LP 8.25% 1/15/20321
|
4,465
|
4,633
|
|
|
Guara Norte SARL 5.198% 6/15/2034
|
4,231
|
3,863
|
|
|
Guara Norte SARL 5.198% 6/15/20341
|
1,628
|
1,487
|
|
|
Harvest Midstream I, LP 7.50% 9/1/20281
|
11,290
|
11,457
|
|
|
Hilcorp Energy I, LP 5.75% 2/1/20291
|
5,380
|
5,245
|
|
|
Hilcorp Energy I, LP 6.00% 4/15/20301
|
7,441
|
7,292
|
|
|
Hilcorp Energy I, LP 6.00% 2/1/20311
|
6,220
|
6,071
|
|
|
Hilcorp Energy I, LP 6.25% 4/15/20321
|
8,180
|
8,074
|
|
|
Hilcorp Energy I, LP 8.375% 11/1/20331
|
12,860
|
13,953
|
|
|
Kinder Morgan, Inc. 5.00% 2/1/2029
|
1,063
|
1,059
|
|
|
Kinder Morgan, Inc. 4.80% 2/1/2033
|
20,000
|
19,127
|
|
|
Kinder Morgan, Inc. 5.20% 6/1/2033
|
15,862
|
15,630
|
|
|
Kinder Morgan, Inc. 5.40% 2/1/2034
|
42,611
|
42,456
|
|
|
Kinder Morgan, Inc. 5.20% 3/1/2048
|
15
|
14
|
|
|
Kinder Morgan, Inc. 3.25% 8/1/2050
|
669
|
443
|
|
|
Kinder Morgan, Inc. 5.45% 8/1/2052
|
6,191
|
5,849
|
|
|
Kinetik Holdings, LP 6.625% 12/15/20281
|
10,245
|
10,433
|
|
|
Kodiak Gas Services, LLC 7.25% 2/15/20291
|
3,925
|
4,001
|
|
|
Leviathan Bond, Ltd. 6.75% 6/30/20301
|
5,870
|
5,460
|
|
|
MEG Energy Corp. 5.875% 2/1/20291
|
3,030
|
2,980
|
|
|
Mesquite Energy, Inc. 7.25% 2/15/20231,5
|
27
|
2
|
|
|
Modec Finance BV 7.84% 7/15/20266,7
|
9,000
|
9,049
|
|
|
MPLX, LP 4.95% 9/1/2032
|
34,163
|
33,202
|
|
|
MPLX, LP 4.70% 4/15/2048
|
5,900
|
5,037
|
|
|
MPLX, LP 4.95% 3/14/2052
|
10,000
|
8,790
|
|
|
Murphy Oil Corp. 5.875% 12/1/2027
|
2,567
|
2,548
|
|
|
MV24 Capital BV 6.748% 6/1/2034
|
6,823
|
6,426
|
|
|
Nabors Industries, Inc. 7.375% 5/15/20271
|
6,230
|
6,224
|
|
|
Nabors Industries, Inc. 9.125% 1/31/20301
|
16,395
|
17,059
|
|
|
New Fortress Energy, Inc. 6.75% 9/15/20251
|
4,982
|
4,953
|
|
|
New Fortress Energy, Inc. 6.50% 9/30/20261
|
33,100
|
31,891
|
|
American Funds Multi-Sector Income Fund — Page 6 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Energy (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
New Fortress Energy, Inc. 8.75% 3/15/20291
|
USD22,750
|
$22,683
|
|
|
New Fortress Energy, Inc., Term Loan,
(3-month USD CME Term SOFR + 5.00%) 10.317% 10/30/20283,4
|
933
|
937
|
|
|
NGL Energy Operating, LLC 8.125% 2/15/20291
|
13,620
|
13,958
|
|
|
NGL Energy Operating, LLC 8.375% 2/15/20321
|
14,275
|
14,643
|
|
|
NGL Energy Partners, LP 7.50% 4/15/2026
|
1,695
|
1,696
|
|
|
Noble Finance II, LLC 8.00% 4/15/20301
|
2,800
|
2,919
|
|
|
Northern Oil and Gas, Inc. 8.125% 3/1/20281
|
15,385
|
15,627
|
|
|
Northern Oil and Gas, Inc. 8.75% 6/15/20311
|
9,305
|
9,837
|
|
|
Occidental Petroleum Corp. 6.625% 9/1/2030
|
2,473
|
2,623
|
|
|
Occidental Petroleum Corp. 6.125% 1/1/2031
|
664
|
688
|
|
|
Occidental Petroleum Corp. 4.40% 8/15/2049
|
1,972
|
1,490
|
|
|
Oleoducto Central SA 4.00% 7/14/20271
|
5,210
|
4,872
|
|
|
Oleoducto Central SA 4.00% 7/14/2027
|
1,250
|
1,169
|
|
|
ONEOK, Inc. 5.80% 11/1/2030
|
3,543
|
3,653
|
|
|
ONEOK, Inc. 6.05% 9/1/2033
|
25,401
|
26,504
|
|
|
ONEOK, Inc. 4.45% 9/1/2049
|
1,600
|
1,302
|
|
|
ONEOK, Inc. 3.95% 3/1/2050
|
1,000
|
738
|
|
|
ONEOK, Inc. 4.50% 3/15/2050
|
1,500
|
1,232
|
|
|
ONEOK, Inc. 6.625% 9/1/2053
|
7,632
|
8,417
|
|
|
Permian Resources Operating, LLC 6.875% 4/1/20271
|
1,215
|
1,216
|
|
|
Permian Resources Operating, LLC 8.00% 4/15/20271
|
4,090
|
4,215
|
|
|
Permian Resources Operating, LLC 5.875% 7/1/20291
|
11,000
|
10,826
|
|
|
Permian Resources Operating, LLC 9.875% 7/15/20311
|
10,930
|
12,188
|
|
|
Permian Resources Operating, LLC 7.00% 1/15/20321
|
8,165
|
8,476
|
|
|
Petrobras Global Finance BV 7.375% 1/17/2027
|
1,600
|
1,664
|
|
|
Petroleos Mexicanos 6.875% 10/16/2025
|
6,250
|
6,177
|
|
|
Petroleos Mexicanos 6.875% 8/4/2026
|
120
|
117
|
|
|
Petroleos Mexicanos 6.49% 1/23/2027
|
6,932
|
6,543
|
|
|
Petroleos Mexicanos 8.75% 6/2/2029
|
5,791
|
5,651
|
|
|
Petroleos Mexicanos 6.70% 2/16/2032
|
13,886
|
11,557
|
|
|
Petroleos Mexicanos 6.95% 1/28/2060
|
5,000
|
3,307
|
|
|
PTTEP Treasury Center Co., Ltd. 2.993% 1/15/2030
|
1,474
|
1,310
|
|
|
Qatar Energy 3.125% 7/12/20411
|
7,050
|
5,275
|
|
|
Raizen Fuels Finance SA 6.45% 3/5/20341
|
3,980
|
4,086
|
|
|
Raizen Fuels Finance SA 6.95% 3/5/20541
|
2,740
|
2,823
|
|
|
Range Resources Corp. 4.875% 5/15/2025
|
5,110
|
5,079
|
|
|
Range Resources Corp. 8.25% 1/15/2029
|
5,290
|
5,506
|
|
|
Range Resources Corp. 4.75% 2/15/20301
|
7,550
|
7,046
|
|
|
Seadrill Finance, Ltd. 8.375% 8/1/20301
|
5,395
|
5,665
|
|
|
Shell International Finance BV 2.75% 4/6/2030
|
6,441
|
5,795
|
|
|
Shell International Finance BV 3.25% 4/6/2050
|
24
|
17
|
|
|
Shell International Finance BV 3.00% 11/26/2051
|
15,178
|
10,377
|
|
|
SM Energy Co. 6.50% 7/15/2028
|
590
|
593
|
|
|
Southwestern Energy Co. 5.70% 1/23/20252
|
2,825
|
2,814
|
|
|
Southwestern Energy Co. 8.375% 9/15/2028
|
9,335
|
9,711
|
|
|
Southwestern Energy Co. 5.375% 3/15/2030
|
1,975
|
1,903
|
|
|
Southwestern Energy Co. 4.75% 2/1/2032
|
2,145
|
1,976
|
|
|
Suburban Propane Partners, LP 5.00% 6/1/20311
|
4,980
|
4,544
|
|
|
Sunoco, LP 6.00% 4/15/2027
|
5,165
|
5,148
|
|
|
Sunoco, LP 4.50% 5/15/2029
|
7,331
|
6,821
|
|
|
Sunoco, LP 4.50% 4/30/2030
|
430
|
394
|
|
|
Superior Plus, LP 4.50% 3/15/20291
|
4,853
|
4,491
|
|
|
Talos Production, Inc. 9.00% 2/1/20291
|
6,850
|
7,280
|
|
American Funds Multi-Sector Income Fund — Page 7 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Energy (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Talos Production, Inc. 9.375% 2/1/20311
|
USD5,655
|
$6,033
|
|
|
Targa Resources Partners, LP 4.875% 2/1/2031
|
774
|
742
|
|
|
TotalEnergies Capital International SA 3.127% 5/29/2050
|
12,551
|
8,945
|
|
|
Transocean Aquila, Ltd. 8.00% 9/30/20281
|
5,875
|
6,047
|
|
|
Transocean Poseidon, Ltd. 6.875% 2/1/20271
|
7,173
|
7,186
|
|
|
Transocean Titan Financing, Ltd. 8.375% 2/1/20281
|
11,101
|
11,596
|
|
|
Transocean, Inc. 8.00% 2/1/20271
|
5,000
|
4,966
|
|
|
Transocean, Inc. 8.75% 2/15/20301
|
15,410
|
16,078
|
|
|
Transocean, Inc. 7.50% 4/15/2031
|
4,400
|
4,095
|
|
|
Transocean, Inc. 6.80% 3/15/2038
|
7,850
|
6,595
|
|
|
USA Compression Partners, LP 7.125% 3/15/20291
|
10,730
|
10,870
|
|
|
Venture Global Calcasieu Pass, LLC 3.875% 8/15/20291
|
12,680
|
11,425
|
|
|
Venture Global Calcasieu Pass, LLC 6.25% 1/15/20301
|
5,824
|
5,864
|
|
|
Venture Global Calcasieu Pass, LLC 4.125% 8/15/20311
|
17,220
|
15,325
|
|
|
Venture Global LNG, Inc. 8.125% 6/1/20281
|
10,000
|
10,208
|
|
|
Venture Global LNG, Inc. 8.375% 6/1/20311
|
6,190
|
6,387
|
|
|
Vital Energy, Inc. 9.75% 10/15/2030
|
6,930
|
7,584
|
|
|
Vital Energy, Inc. 7.875% 4/15/20321
|
14,895
|
15,143
|
|
|
Williams Companies, Inc. 2.60% 3/15/2031
|
9,000
|
7,673
|
|
|
Williams Companies, Inc. 4.65% 8/15/2032
|
7,500
|
7,232
|
|
|
Williams Companies, Inc. 5.15% 3/15/2034
|
25,653
|
25,433
|
|
|
|
|
|
1,441,069
|
|
Health care 8.05%
|
|
|
|
|
AbbVie, Inc. 4.80% 3/15/2029
|
23,150
|
23,196
|
|
|
AbbVie, Inc. 3.20% 11/21/2029
|
8,050
|
7,420
|
|
|
AbbVie, Inc. 5.05% 3/15/2034
|
76,993
|
77,983
|
|
|
AbbVie, Inc. 5.35% 3/15/2044
|
1,175
|
1,199
|
|
|
AbbVie, Inc. 5.40% 3/15/2054
|
27,745
|
28,580
|
|
|
AbbVie, Inc. 5.50% 3/15/2064
|
3,125
|
3,216
|
|
|
AdaptHealth, LLC 6.125% 8/1/20281
|
3,875
|
3,643
|
|
|
AdaptHealth, LLC 4.625% 8/1/20291
|
11,155
|
9,609
|
|
|
AdaptHealth, LLC 5.125% 3/1/20301
|
16,259
|
14,194
|
|
|
Amgen, Inc. 5.15% 3/2/2028
|
21,120
|
21,266
|
|
|
Amgen, Inc. 5.25% 3/2/2030
|
29,132
|
29,586
|
|
|
Amgen, Inc. 4.20% 3/1/2033
|
14,000
|
13,094
|
|
|
Amgen, Inc. 5.25% 3/2/2033
|
18,651
|
18,816
|
|
|
Amgen, Inc. 5.60% 3/2/2043
|
3,740
|
3,807
|
|
|
Amgen, Inc. 3.00% 1/15/2052
|
100
|
68
|
|
|
Amgen, Inc. 4.875% 3/1/2053
|
5,675
|
5,171
|
|
|
Amgen, Inc. 5.65% 3/2/2053
|
14,273
|
14,554
|
|
|
Amgen, Inc. 5.75% 3/2/2063
|
21,310
|
21,752
|
|
|
AstraZeneca Finance, LLC 1.75% 5/28/2028
|
5,266
|
4,678
|
|
|
AstraZeneca Finance, LLC 4.85% 2/26/2029
|
13,630
|
13,676
|
|
|
AstraZeneca Finance, LLC 4.90% 3/3/2030
|
7,332
|
7,391
|
|
|
AstraZeneca Finance, LLC 4.90% 2/26/2031
|
9,580
|
9,616
|
|
|
AstraZeneca Finance, LLC 5.00% 2/26/2034
|
16,050
|
16,124
|
|
|
AthenaHealth Group, Inc. 6.50% 2/15/20301
|
3,125
|
2,861
|
|
|
Avantor Funding, Inc. 4.625% 7/15/20281
|
5,615
|
5,327
|
|
|
Avantor Funding, Inc. 3.875% 11/1/20291
|
11,375
|
10,266
|
|
|
Bausch Health Americas, Inc. 9.25% 4/1/20261
|
2,930
|
2,757
|
|
|
Bausch Health Americas, Inc. 8.50% 1/31/20271
|
8,415
|
4,954
|
|
|
Bausch Health Companies, Inc. 5.50% 11/1/20251
|
13,705
|
12,951
|
|
|
Bausch Health Companies, Inc. 9.00% 12/15/20251
|
10,076
|
9,629
|
|
American Funds Multi-Sector Income Fund — Page 8 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Health care (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Bausch Health Companies, Inc. 5.75% 8/15/20271
|
USD200
|
$116
|
|
|
Bausch Health Companies, Inc. 5.00% 2/15/20291
|
14,000
|
5,963
|
|
|
Bausch Health Companies, Inc. 5.25% 1/30/20301
|
1,220
|
514
|
|
|
Bausch Health Companies, Inc. 5.25% 2/15/20311
|
15,464
|
6,396
|
|
|
Baxter International, Inc. 1.915% 2/1/2027
|
2,150
|
1,964
|
|
|
Baxter International, Inc. 2.272% 12/1/2028
|
11,125
|
9,806
|
|
|
Baxter International, Inc. 2.539% 2/1/2032
|
27,032
|
22,348
|
|
|
Baxter International, Inc. 3.132% 12/1/2051
|
8,657
|
5,677
|
|
|
Bayer US Finance, LLC 6.50% 11/21/20331
|
21,928
|
22,323
|
|
|
Bayer US Finance, LLC 6.875% 11/21/20531
|
4,047
|
4,155
|
|
|
Becton, Dickinson and Co. 4.874% 2/8/2029
|
1,350
|
1,343
|
|
|
Becton, Dickinson and Co. 5.11% 2/8/2034
|
850
|
844
|
|
|
Bristol-Myers Squibb Co. 4.90% 2/22/2029
|
5,355
|
5,381
|
|
|
Bristol-Myers Squibb Co. 5.10% 2/22/2031
|
3,850
|
3,889
|
|
|
Bristol-Myers Squibb Co. 5.20% 2/22/2034
|
72,450
|
73,599
|
|
|
Bristol-Myers Squibb Co. 5.50% 2/22/2044
|
5,300
|
5,427
|
|
|
Bristol-Myers Squibb Co. 6.25% 11/15/2053
|
3,690
|
4,160
|
|
|
Bristol-Myers Squibb Co. 5.55% 2/22/2054
|
19,926
|
20,509
|
|
|
Bristol-Myers Squibb Co. 6.40% 11/15/2063
|
3,370
|
3,855
|
|
|
Bristol-Myers Squibb Co. 5.65% 2/22/2064
|
4,450
|
4,582
|
|
|
Catalent Pharma Solutions, Inc. 5.00% 7/15/20271
|
4,785
|
4,716
|
|
|
Catalent Pharma Solutions, Inc., Term Loan B4,
(3-month USD CME Term SOFR + 3.00%) 8.329% 2/22/20283,4
|
3,485
|
3,498
|
|
|
Cencora, Inc. 2.80% 5/15/2030
|
2,607
|
2,306
|
|
|
Cencora, Inc. 2.70% 3/15/2031
|
2,423
|
2,080
|
|
|
Centene Corp. 2.45% 7/15/2028
|
20,947
|
18,596
|
|
|
Centene Corp. 4.625% 12/15/2029
|
14,515
|
13,791
|
|
|
Centene Corp. 3.375% 2/15/2030
|
644
|
570
|
|
|
Centene Corp. 3.00% 10/15/2030
|
610
|
524
|
|
|
Centene Corp. 2.50% 3/1/2031
|
5,104
|
4,203
|
|
|
Centene Corp. 2.625% 8/1/2031
|
4,440
|
3,648
|
|
|
Charles River Laboratories International, Inc. 4.25% 5/1/20281
|
3,618
|
3,426
|
|
|
Charles River Laboratories International, Inc. 3.75% 3/15/20291
|
5,730
|
5,235
|
|
|
Charles River Laboratories International, Inc. 4.00% 3/15/20311
|
2,340
|
2,093
|
|
|
CHS / Community Health Systems, Inc. 5.625% 3/15/20271
|
12,740
|
11,739
|
|
|
CHS / Community Health Systems, Inc. 6.875% 4/15/20291
|
1,200
|
900
|
|
|
Cigna Group (The) 5.25% 2/15/2034
|
7,915
|
7,907
|
|
|
CVS Health Corp. 1.75% 8/21/2030
|
3,625
|
2,979
|
|
|
CVS Health Corp. 5.25% 2/21/2033
|
1,500
|
1,501
|
|
|
CVS Health Corp. 5.30% 6/1/2033
|
12,000
|
12,033
|
|
|
CVS Health Corp. 5.625% 2/21/2053
|
2,470
|
2,427
|
|
|
CVS Health Corp. 5.875% 6/1/2053
|
4,934
|
5,023
|
|
|
CVS Health Corp. 6.00% 6/1/2063
|
2,344
|
2,422
|
|
|
Endo DAC 9.50% 7/31/20271
|
705
|
47
|
|
|
Endo DAC 6.00% 6/30/20281
|
1,250
|
88
|
|
|
Endo Luxembourg Finance Co. I SARL 6.125% 4/1/20291
|
3,610
|
2,350
|
|
|
Fortrea Holdings, Inc. 7.50% 7/1/20301
|
6,790
|
7,018
|
|
|
Fortrea Holdings, Inc., Term Loan B,
(3-month USD CME Term SOFR + 3.75%) 9.08% 7/1/20303,4
|
1,583
|
1,590
|
|
|
GE HealthCare Technologies, Inc. 5.857% 3/15/2030
|
2,710
|
2,822
|
|
|
GE HealthCare Technologies, Inc. 5.905% 11/22/2032
|
2,140
|
2,248
|
|
|
Gilead Sciences, Inc. 5.25% 10/15/2033
|
7,361
|
7,516
|
|
|
Gilead Sciences, Inc. 2.80% 10/1/2050
|
225
|
147
|
|
|
Gilead Sciences, Inc. 5.55% 10/15/2053
|
4,070
|
4,216
|
|
American Funds Multi-Sector Income Fund — Page 9 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Health care (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
HCA, Inc. 5.625% 9/1/2028
|
USD4,360
|
$4,416
|
|
|
HCA, Inc. 5.875% 2/1/2029
|
2,870
|
2,935
|
|
|
HCA, Inc. 5.45% 4/1/2031
|
1,985
|
1,996
|
|
|
HCA, Inc. 2.375% 7/15/2031
|
10,953
|
9,012
|
|
|
Humana, Inc. 5.375% 4/15/2031
|
855
|
856
|
|
|
Humana, Inc. 5.75% 4/15/2054
|
5,109
|
5,146
|
|
|
IQVIA, Inc. 5.00% 10/15/20261
|
8,105
|
7,937
|
|
|
IQVIA, Inc. 6.50% 5/15/20301
|
4,305
|
4,399
|
|
|
Medline Borrower, LP 3.875% 4/1/20291
|
1,560
|
1,421
|
|
|
Medline Borrower, LP 6.25% 4/1/20291
|
7,293
|
7,335
|
|
|
Medline Borrower, LP 5.25% 10/1/20291
|
16,310
|
15,428
|
|
|
Medline Borrower, LP, Term Loan B,
(3-month USD CME Term SOFR + 2.75%) 8.082% 10/23/20283,4
|
2,419
|
2,423
|
|
|
Molina Healthcare, Inc. 3.875% 11/15/20301
|
10,000
|
8,899
|
|
|
Molina Healthcare, Inc. 3.875% 5/15/20321
|
22,000
|
19,173
|
|
|
Owens & Minor, Inc. 6.625% 4/1/20301
|
13,929
|
13,836
|
|
|
Par Pharmaceutical, Inc. 7.50% 4/1/20271
|
4,600
|
3,041
|
|
|
Pfizer Investment Enterprises Pte., Ltd. 4.45% 5/19/2028
|
383
|
378
|
|
|
Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033
|
38,308
|
37,737
|
|
|
Pfizer Investment Enterprises Pte., Ltd. 5.11% 5/19/2043
|
10,000
|
9,785
|
|
|
Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053
|
9,432
|
9,385
|
|
|
Radiology Partners, Inc. 3.50% PIK and 5.00% Cash 1/31/20291,8
|
24,347
|
22,620
|
|
|
Radiology Partners, Inc. 9.78% PIK 2/15/20301,8
|
15,007
|
12,099
|
|
|
Radiology Partners, Inc., Term Loan B,
(3-month USD CME Term SOFR + 4.25%) 10.179% 1/31/20293,4
|
5,738
|
5,537
|
|
|
Rede D’Or Finance SARL 4.95% 1/17/2028
|
590
|
565
|
|
|
Rede D’Or Finance SARL 4.50% 1/22/2030
|
2,590
|
2,347
|
|
|
Roche Holdings, Inc. 2.076% 12/13/20311
|
4,231
|
3,487
|
|
|
Roche Holdings, Inc. 5.593% 11/13/20331
|
6,588
|
6,915
|
|
|
Roche Holdings, Inc. 4.985% 3/8/20341
|
14,825
|
14,936
|
|
|
Roche Holdings, Inc. 5.218% 3/8/20541
|
1,856
|
1,884
|
|
|
Solventum Corp. 5.60% 3/23/20341
|
7,900
|
7,929
|
|
|
Summa Health 3.511% 11/15/2051
|
995
|
743
|
|
|
Surgery Center Holdings, Inc. 10.00% 4/15/20271
|
3,802
|
3,811
|
|
|
Surgery Center Holdings, Inc. 7.25% 4/15/20321
|
7,395
|
7,462
|
|
|
Team Health Holdings, Inc., Term Loan B,
(3-month USD CME Term SOFR + 5.25%) 10.563% 3/2/20273,4
|
791
|
704
|
|
|
Tenet Healthcare Corp. 6.25% 2/1/2027
|
440
|
440
|
|
|
Tenet Healthcare Corp. 6.125% 10/1/2028
|
7,730
|
7,709
|
|
|
Tenet Healthcare Corp. 4.25% 6/1/2029
|
1,870
|
1,740
|
|
|
Tenet Healthcare Corp. 6.75% 5/15/20311
|
8,780
|
8,951
|
|
|
Teva Pharmaceutical Finance Netherlands III BV 6.00% 4/15/2024
|
943
|
943
|
|
|
Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026
|
12,752
|
11,932
|
|
|
Teva Pharmaceutical Finance Netherlands III BV 4.75% 5/9/2027
|
21,075
|
20,429
|
|
|
Teva Pharmaceutical Finance Netherlands III BV 6.75% 3/1/2028
|
28,260
|
28,970
|
|
|
Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029
|
29,085
|
27,978
|
|
|
Teva Pharmaceutical Finance Netherlands III BV 7.875% 9/15/2029
|
8,340
|
8,963
|
|
|
Teva Pharmaceutical Finance Netherlands III BV 8.125% 9/15/2031
|
14,281
|
15,681
|
|
|
Teva Pharmaceutical Finance Netherlands III BV 4.10% 10/1/2046
|
12,000
|
8,280
|
|
|
UnitedHealth Group, Inc. 4.70% 4/15/2029
|
1,425
|
1,421
|
|
|
UnitedHealth Group, Inc. 4.90% 4/15/2031
|
1,100
|
1,101
|
|
|
UnitedHealth Group, Inc. 5.00% 4/15/2034
|
825
|
827
|
|
|
UnitedHealth Group, Inc. 2.90% 5/15/2050
|
10,868
|
7,372
|
|
|
UnitedHealth Group, Inc. 3.25% 5/15/2051
|
221
|
159
|
|
American Funds Multi-Sector Income Fund — Page 10 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Health care (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
UnitedHealth Group, Inc. 4.75% 5/15/2052
|
USD1,210
|
$1,123
|
|
|
UnitedHealth Group, Inc. 4.95% 5/15/2062
|
159
|
149
|
|
|
UnitedHealth Group, Inc. 6.05% 2/15/2063
|
124
|
136
|
|
|
|
|
|
1,150,775
|
|
Consumer discretionary 6.31%
|
|
|
|
|
Advance Auto Parts, Inc. 1.75% 10/1/2027
|
3,295
|
2,877
|
|
|
Advance Auto Parts, Inc. 5.95% 3/9/2028
|
1,848
|
1,849
|
|
|
Advance Auto Parts, Inc. 3.90% 4/15/2030
|
16,277
|
14,771
|
|
|
Advance Auto Parts, Inc. 3.50% 3/15/2032
|
20,772
|
17,823
|
|
|
Alibaba Group Holding, Ltd. 2.125% 2/9/2031
|
7,500
|
6,236
|
|
|
Allied Universal Holdco, LLC 9.75% 7/15/20271
|
12,560
|
12,612
|
|
|
Allied Universal Holdco, LLC 4.625% 6/1/20281
|
12,760
|
11,667
|
|
|
Allied Universal Holdco, LLC 6.00% 6/1/20291
|
1,810
|
1,559
|
|
|
Allwyn Entertainment Financing (UK) PLC 7.875% 4/30/20291
|
14,512
|
14,946
|
|
|
Amazon.com, Inc. 4.70% 12/1/2032
|
2,000
|
2,009
|
|
|
Arcos Dorados BV 6.125% 5/27/20291
|
2,000
|
1,994
|
|
|
Arcos Dorados BV 6.125% 5/27/2029
|
460
|
459
|
|
|
Arcos Dorados Holdings, Inc. 5.875% 4/4/2027
|
2,440
|
2,416
|
|
|
Asbury Automotive Group, Inc. 4.625% 11/15/20291
|
13,675
|
12,634
|
|
|
Asbury Automotive Group, Inc. 5.00% 2/15/20321
|
2,325
|
2,108
|
|
|
Atlas LuxCo 4 SARL 4.625% 6/1/20281
|
10,000
|
9,101
|
|
|
AutoNation, Inc. 3.85% 3/1/2032
|
8,000
|
7,116
|
|
|
Bath & Body Works, Inc. 6.625% 10/1/20301
|
3,150
|
3,221
|
|
|
Bath & Body Works, Inc. 6.875% 11/1/2035
|
12,922
|
13,224
|
|
|
Bath & Body Works, Inc. 6.75% 7/1/2036
|
7,055
|
7,131
|
|
|
Boyd Gaming Corp. 4.75% 12/1/2027
|
11,120
|
10,733
|
|
|
Boyd Gaming Corp. 4.75% 6/15/20311
|
3,500
|
3,220
|
|
|
Boyne USA, Inc. 4.75% 5/15/20291
|
16,545
|
15,347
|
|
|
Caesars Entertainment, Inc. 4.625% 10/15/20291
|
21,999
|
20,078
|
|
|
Caesars Entertainment, Inc. 7.00% 2/15/20301
|
17,650
|
18,128
|
|
|
Caesars Entertainment, Inc. 6.50% 2/15/20321
|
9,245
|
9,332
|
|
|
Carnival Corp. 5.75% 3/1/20271
|
19,000
|
18,817
|
|
|
Carnival Corp. 4.00% 8/1/20281
|
3,500
|
3,263
|
|
|
Carnival Corp. 6.00% 5/1/20291
|
28,585
|
28,223
|
|
|
Carnival Corp. 7.00% 8/15/20291
|
10,920
|
11,398
|
|
|
Carnival Corp. 10.50% 6/1/20301
|
6,625
|
7,251
|
|
|
Cedar Fair, LP 5.50% 5/1/20251
|
11,900
|
11,858
|
|
|
Clarios Global, LP 6.75% 5/15/20251
|
180
|
180
|
|
|
Clarios Global, LP 6.25% 5/15/20261
|
140
|
140
|
|
|
Clarios Global, LP 8.50% 5/15/20271
|
6,010
|
6,030
|
|
|
Daimler Trucks Finance North America, LLC 2.50% 12/14/20311
|
3,257
|
2,704
|
|
|
Fertitta Entertainment, LLC 4.625% 1/15/20291
|
7,663
|
7,034
|
|
|
Fertitta Entertainment, LLC 6.75% 1/15/20301
|
424
|
381
|
|
|
First Student Bidco, Inc. 4.00% 7/31/20291
|
15,250
|
13,531
|
|
|
First Student Bidco, Inc., Term Loan B,
(3-month USD CME Term SOFR + 3.00%) 8.563% 7/21/20283,4
|
466
|
466
|
|
|
First Student Bidco, Inc., Term Loan C,
(3-month USD CME Term SOFR + 3.00%) 8.563% 7/21/20283,4
|
141
|
141
|
|
|
Ford Motor Co. 6.10% 8/19/2032
|
22,570
|
22,885
|
|
|
Ford Motor Co. 4.75% 1/15/2043
|
6,620
|
5,504
|
|
|
Ford Motor Co. 5.291% 12/8/2046
|
10,067
|
8,962
|
|
|
Ford Motor Credit Co., LLC 5.125% 6/16/2025
|
2,920
|
2,895
|
|
|
Ford Motor Credit Co., LLC 2.70% 8/10/2026
|
12,450
|
11,609
|
|
American Funds Multi-Sector Income Fund — Page 11 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Consumer discretionary (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Ford Motor Credit Co., LLC 4.95% 5/28/2027
|
USD11,820
|
$11,538
|
|
|
Ford Motor Credit Co., LLC 3.815% 11/2/2027
|
18,250
|
17,105
|
|
|
Ford Motor Credit Co., LLC 6.798% 11/7/2028
|
2,683
|
2,802
|
|
|
Ford Motor Credit Co., LLC 7.20% 6/10/2030
|
5,305
|
5,634
|
|
|
Ford Motor Credit Co., LLC 4.00% 11/13/2030
|
1,720
|
1,537
|
|
|
Ford Motor Credit Co., LLC 6.05% 3/5/2031
|
2,050
|
2,066
|
|
|
Ford Motor Credit Co., LLC 7.122% 11/7/2033
|
9,001
|
9,691
|
|
|
Grand Canyon University 4.375% 10/1/2026
|
6,750
|
6,446
|
|
|
Hanesbrands, Inc. 4.875% 5/15/20261
|
425
|
414
|
|
|
Hanesbrands, Inc. 9.00% 2/15/20311
|
38,129
|
39,206
|
|
|
Hanesbrands, Inc., Term Loan B,
(3-month USD CME Term SOFR + 3.75%) 9.08% 3/8/20303,4
|
11,712
|
11,723
|
|
|
Hilton Grand Vacations Borrower, LLC 5.00% 6/1/20291
|
470
|
439
|
|
|
Home Depot, Inc. 2.70% 4/15/2030
|
50
|
45
|
|
|
Home Depot, Inc. 1.375% 3/15/2031
|
7,750
|
6,200
|
|
|
Home Depot, Inc. 3.25% 4/15/2032
|
14,682
|
13,131
|
|
|
Home Depot, Inc. 3.125% 12/15/2049
|
135
|
95
|
|
|
Hyundai Capital America 6.50% 1/16/20291
|
423
|
444
|
|
|
International Game Technology PLC 6.50% 2/15/20251
|
200
|
201
|
|
|
International Game Technology PLC 4.125% 4/15/20261
|
565
|
548
|
|
|
International Game Technology PLC 5.25% 1/15/20291
|
1,670
|
1,615
|
|
|
LCM Investments Holdings II, LLC 4.875% 5/1/20291
|
12,243
|
11,265
|
|
|
LCM Investments Holdings II, LLC 8.25% 8/1/20311
|
20,100
|
21,044
|
|
|
Levi Strauss & Co. 3.50% 3/1/20311
|
9,775
|
8,584
|
|
|
Light and Wonder International, Inc. 7.00% 5/15/20281
|
5,555
|
5,599
|
|
|
Light and Wonder International, Inc. 7.25% 11/15/20291
|
7,580
|
7,786
|
|
|
Light and Wonder International, Inc. 7.50% 9/1/20311
|
5,365
|
5,583
|
|
|
Lithia Motors, Inc. 3.875% 6/1/20291
|
5,345
|
4,822
|
|
|
Lithia Motors, Inc. 4.375% 1/15/20311
|
250
|
224
|
|
|
Macy’s Retail Holdings, LLC 6.125% 3/15/20321
|
960
|
931
|
|
|
Marriott Ownership Resorts, Inc. 4.50% 6/15/20291
|
7,540
|
6,902
|
|
|
McDonald’s Corp. 3.60% 7/1/2030
|
1,084
|
1,012
|
|
|
McDonald’s Corp. 4.95% 8/14/2033
|
2,000
|
2,004
|
|
|
McDonald’s Corp. 5.15% 9/9/2052
|
3,605
|
3,493
|
|
|
MercadoLibre, Inc. 2.375% 1/14/2026
|
1,200
|
1,125
|
|
|
MercadoLibre, Inc. 3.125% 1/14/2031
|
3,525
|
2,953
|
|
|
NCL Corp., Ltd. 5.875% 2/15/20271
|
2,280
|
2,254
|
|
|
NCL Corp., Ltd. 7.75% 2/15/20291
|
2,925
|
3,040
|
|
|
NCL Finance, Ltd. 6.125% 3/15/20281
|
2,500
|
2,471
|
|
|
Neiman Marcus Group, Ltd., LLC 7.125% 4/1/20261
|
8,120
|
7,959
|
|
|
Party City Holdings, Inc. 0% 10/12/20286
|
50
|
—
9
|
|
|
Party City Holdings, Inc. 12.00% PIK 1/11/20291,8
|
7,169
|
6,847
|
|
|
RHP Hotel Properties, LP 7.25% 7/15/20281
|
5,464
|
5,634
|
|
|
RHP Hotel Properties, LP 4.50% 2/15/20291
|
8,425
|
7,874
|
|
|
Royal Caribbean Cruises, Ltd. 4.25% 7/1/20261
|
12,260
|
11,840
|
|
|
Royal Caribbean Cruises, Ltd. 3.70% 3/15/2028
|
11,780
|
10,972
|
|
|
Royal Caribbean Cruises, Ltd. 5.50% 4/1/20281
|
14,800
|
14,638
|
|
|
Royal Caribbean Cruises, Ltd. 8.25% 1/15/20291
|
20,090
|
21,281
|
|
|
Royal Caribbean Cruises, Ltd. 9.25% 1/15/20291
|
770
|
826
|
|
|
Royal Caribbean Cruises, Ltd. 7.25% 1/15/20301
|
3,784
|
3,934
|
|
|
Royal Caribbean Cruises, Ltd. 6.25% 3/15/20321
|
2,235
|
2,254
|
|
|
Sally Holdings, LLC 6.75% 3/1/2032
|
7,614
|
7,561
|
|
|
Sands China, Ltd. 4.625% 6/18/2030
|
6,700
|
6,149
|
|
|
Scientific Games Holdings, LP 6.625% 3/1/20301
|
7,930
|
7,672
|
|
American Funds Multi-Sector Income Fund — Page 12 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Consumer discretionary (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Scientific Games Holdings, LP, Term Loan B,
(3-month USD CME Term SOFR + 3.25%) 8.58% 4/4/20293,4
|
USD8,925
|
$8,934
|
|
|
Sonic Automotive, Inc. 4.625% 11/15/20291
|
19,340
|
17,362
|
|
|
Sonic Automotive, Inc. 4.875% 11/15/20311
|
26,185
|
22,942
|
|
|
Station Casinos, LLC 6.625% 3/15/20321
|
5,565
|
5,626
|
|
|
Studio City Finance, Ltd. 5.00% 1/15/2029
|
3,540
|
3,118
|
|
|
Tapestry, Inc. 7.85% 11/27/2033
|
8,782
|
9,539
|
|
|
Toyota Motor Credit Corp. 1.90% 1/13/2027
|
5,470
|
5,052
|
|
|
Universal Entertainment Corp. 8.75% 12/11/20241
|
13,943
|
15,036
|
|
|
Vail Resorts, Inc. 6.25% 5/15/20251
|
9,932
|
9,941
|
|
|
Valvoline, Inc. 4.25% 2/15/20301
|
5,685
|
5,677
|
|
|
Valvoline, Inc. 3.625% 6/15/20311
|
9,120
|
7,869
|
|
|
Wand NewCo 3, Inc. 7.625% 1/30/20321
|
5,205
|
5,388
|
|
|
Wand NewCo 3, Inc., Term Loan B,
(3-month USD CME Term SOFR + 3.75%) 9.08% 1/30/20313,4
|
6,135
|
6,159
|
|
|
WASH Multifamily Acquisition, Inc. 5.75% 4/15/20261
|
22,715
|
22,221
|
|
|
Wyndham Hotels & Resorts, Inc. 4.375% 8/15/20281
|
13,385
|
12,455
|
|
|
Wynn Resorts Finance, LLC 5.125% 10/1/20291
|
1,544
|
1,464
|
|
|
Wynn Resorts Finance, LLC 7.125% 2/15/20311
|
18,104
|
18,747
|
|
|
|
|
|
900,806
|
|
Industrials 5.86%
|
|
|
|
|
AAR Escrow Issuer, LLC 6.75% 3/15/20291
|
4,519
|
4,559
|
|
|
ADT Security Corp. 4.125% 8/1/20291
|
2,230
|
2,045
|
|
|
Ambipar Lux SARL 9.875% 2/6/20311
|
8,215
|
8,236
|
|
|
American Airlines, Inc. 8.50% 5/15/20291
|
7,800
|
8,245
|
|
|
Apple Bidco, LLC, Term Loan, (3-month USD CME Term SOFR + 2.75%) 8.195% 9/22/20283,4
|
3,910
|
3,911
|
|
|
Avis Budget Car Rental, LLC 4.75% 4/1/20281
|
1,090
|
1,009
|
|
|
Avis Budget Car Rental, LLC 5.375% 3/1/20291
|
2,130
|
1,987
|
|
|
BAE Systems PLC 5.30% 3/26/20341
|
14,822
|
14,902
|
|
|
BOC Aviation, Ltd. 3.00% 9/11/2029
|
2,579
|
2,324
|
|
|
BOC Aviation, Ltd. 2.625% 9/17/2030
|
1,121
|
968
|
|
|
Boeing Co. 2.75% 2/1/2026
|
500
|
474
|
|
|
Boeing Co. 2.196% 2/4/2026
|
25
|
23
|
|
|
Boeing Co. 3.25% 2/1/2028
|
1,078
|
992
|
|
|
Boeing Co. 5.15% 5/1/2030
|
52,246
|
50,574
|
|
|
Boeing Co. 3.625% 2/1/2031
|
4
|
4
|
|
|
Boeing Co. 3.50% 3/1/2039
|
7,463
|
5,542
|
|
|
Boeing Co. 5.705% 5/1/2040
|
5,363
|
5,137
|
|
|
Boeing Co. 5.805% 5/1/2050
|
3,375
|
3,196
|
|
|
Boeing Co. 5.93% 5/1/2060
|
10,000
|
9,385
|
|
|
Bombardier, Inc. 7.125% 6/15/20261
|
10,143
|
10,301
|
|
|
Bombardier, Inc. 7.875% 4/15/20271
|
15,939
|
15,960
|
|
|
Bombardier, Inc. 6.00% 2/15/20281
|
11,433
|
11,259
|
|
|
Bombardier, Inc. 7.50% 2/1/20291
|
15,279
|
15,750
|
|
|
Bombardier, Inc. 8.75% 11/15/20301
|
12,600
|
13,470
|
|
|
Burlington Northern Santa Fe, LLC 3.55% 2/15/2050
|
750
|
571
|
|
|
Burlington Northern Santa Fe, LLC 3.30% 9/15/2051
|
479
|
345
|
|
|
Burlington Northern Santa Fe, LLC 2.875% 6/15/2052
|
3,710
|
2,433
|
|
|
Burlington Northern Santa Fe, LLC 5.20% 4/15/2054
|
9,990
|
9,910
|
|
|
Canadian National Railway Co. 6.125% 11/1/2053
|
1,276
|
1,464
|
|
|
Canadian Pacific Railway Co. 1.75% 12/2/2026
|
435
|
400
|
|
|
Canadian Pacific Railway Co. 3.10% 12/2/2051
|
19,127
|
13,214
|
|
|
Carrier Global Corp. 2.722% 2/15/2030
|
500
|
442
|
|
American Funds Multi-Sector Income Fund — Page 13 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Industrials (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Carrier Global Corp. 2.70% 2/15/2031
|
USD2,737
|
$2,357
|
|
|
Carrier Global Corp. 5.90% 3/15/2034
|
14,373
|
15,113
|
|
|
Carrier Global Corp. 3.577% 4/5/2050
|
1,955
|
1,458
|
|
|
Carrier Global Corp. 6.20% 3/15/2054
|
11,736
|
12,933
|
|
|
Clarivate Science Holdings Corp. 3.875% 7/1/20281
|
4,000
|
3,705
|
|
|
Clarivate Science Holdings Corp. 4.875% 7/1/20291
|
5,600
|
5,187
|
|
|
Clean Harbors, Inc. 6.375% 2/1/20311
|
5,635
|
5,682
|
|
|
CoreLogic, Inc. 4.50% 5/1/20281
|
6,427
|
5,770
|
|
|
CoreLogic, Inc., Term Loan, (3-month USD CME Term SOFR + 3.50%) 8.945% 6/2/20283,4
|
9,097
|
8,918
|
|
|
CoreLogic, Inc., Term Loan,
(3-month USD CME Term SOFR + 6.50%) 11.945% 6/4/20293,4
|
4,225
|
3,998
|
|
|
Cornerstone Building Brands, Inc., Term Loan B,
(1-month USD CME Term SOFR + 3.25%) 8.675% 4/12/20283,4
|
142
|
142
|
|
|
Covanta Holding Corp. 4.875% 12/1/20291
|
19,406
|
17,413
|
|
|
CSX Corp. 4.10% 11/15/2032
|
4,479
|
4,223
|
|
|
CSX Corp. 5.20% 11/15/2033
|
3,166
|
3,221
|
|
|
CSX Corp. 4.50% 3/15/2049
|
25
|
22
|
|
|
CSX Corp. 2.50% 5/15/2051
|
4,765
|
2,924
|
|
|
Dun & Bradstreet Corp. (The) 5.00% 12/15/20291
|
14,963
|
13,824
|
|
|
Empresa de Transporte de Pasajeros Metro SA 4.70% 5/7/20501
|
400
|
333
|
|
|
Enviri Corp. 5.75% 7/31/20271
|
5,874
|
5,536
|
|
|
General Dynamics Corp. 1.15% 6/1/2026
|
4,600
|
4,238
|
|
|
General Dynamics Corp. 3.625% 4/1/2030
|
5,230
|
4,920
|
|
|
Hidrovias International Finance SARL 4.95% 2/8/2031
|
4,800
|
4,165
|
|
|
Honeywell International, Inc. 4.875% 9/1/2029
|
1,275
|
1,284
|
|
|
Honeywell International, Inc. 4.95% 9/1/2031
|
1,000
|
1,008
|
|
|
Honeywell International, Inc. 5.00% 3/1/2035
|
12,490
|
12,542
|
|
|
Honeywell International, Inc. 5.25% 3/1/2054
|
2,500
|
2,525
|
|
|
Honeywell International, Inc. 5.35% 3/1/2064
|
375
|
380
|
|
|
Howmet Aerospace, Inc. 6.875% 5/1/2025
|
1,085
|
1,098
|
|
|
Hutchison Whampoa International, Ltd. 7.45% 11/24/2033
|
4,040
|
4,739
|
|
|
Icahn Enterprises, LP 4.75% 9/15/2024
|
3,113
|
3,101
|
|
|
Icahn Enterprises, LP 6.375% 12/15/2025
|
7,554
|
7,498
|
|
|
Icahn Enterprises, LP 6.25% 5/15/2026
|
10,064
|
9,723
|
|
|
Icahn Enterprises, LP 5.25% 5/15/2027
|
12,630
|
11,423
|
|
|
Icahn Enterprises, LP 9.75% 1/15/20291
|
16,715
|
17,468
|
|
|
IRB Infrastructure Developers, Ltd. 7.11% 3/11/20321
|
11,295
|
11,464
|
|
|
Lima Metro Line 2 Finance, Ltd. 5.875% 7/5/20341
|
3,974
|
3,946
|
|
|
Lima Metro Line 2 Finance, Ltd. 5.875% 7/5/2034
|
3,494
|
3,469
|
|
|
Lockheed Martin Corp. 4.50% 2/15/2029
|
5,343
|
5,296
|
|
|
Lockheed Martin Corp. 1.85% 6/15/2030
|
2,497
|
2,107
|
|
|
Lockheed Martin Corp. 3.90% 6/15/2032
|
2,230
|
2,094
|
|
|
Lockheed Martin Corp. 5.25% 1/15/2033
|
6,243
|
6,421
|
|
|
Lockheed Martin Corp. 4.80% 8/15/2034
|
6,662
|
6,592
|
|
|
Lockheed Martin Corp. 5.20% 2/15/2064
|
1,312
|
1,298
|
|
|
Mexico City Airport Trust 4.25% 10/31/2026
|
5,400
|
5,238
|
|
|
Mexico City Airport Trust 3.875% 4/30/2028
|
5,000
|
4,705
|
|
|
Mileage Plus Holdings, LLC 6.50% 6/20/20271
|
8,616
|
8,670
|
|
|
Norfolk Southern Corp. 5.05% 8/1/2030
|
2,788
|
2,798
|
|
|
Norfolk Southern Corp. 4.45% 3/1/2033
|
1,343
|
1,289
|
|
|
Norfolk Southern Corp. 5.35% 8/1/2054
|
19,390
|
19,263
|
|
|
Northrop Grumman Corp. 4.70% 3/15/2033
|
16,114
|
15,739
|
|
|
Northrop Grumman Corp. 4.90% 6/1/2034
|
3,770
|
3,706
|
|
|
OCP SA 3.75% 6/23/2031
|
7,600
|
6,497
|
|
American Funds Multi-Sector Income Fund — Page 14 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Industrials (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
PM General Purchaser, LLC 9.50% 10/1/20281
|
USD11,140
|
$11,380
|
|
|
Regal Rexnord Corp. 6.30% 2/15/20301
|
20,000
|
20,490
|
|
|
Regal Rexnord Corp. 6.40% 4/15/20331
|
20,000
|
20,763
|
|
|
Republic Services, Inc. 1.45% 2/15/2031
|
6,195
|
4,937
|
|
|
Ritchie Bros. Holdings, Inc. 6.75% 3/15/20281
|
1,001
|
1,022
|
|
|
Ritchie Bros. Holdings, Inc. 7.75% 3/15/20311
|
1,876
|
1,965
|
|
|
RTX Corp. 5.15% 2/27/2033
|
7,000
|
7,017
|
|
|
RTX Corp. 6.10% 3/15/2034
|
10,532
|
11,263
|
|
|
RTX Corp. 6.40% 3/15/2054
|
5,301
|
6,003
|
|
|
Sensata Technologies BV 4.00% 4/15/20291
|
13,995
|
12,793
|
|
|
Sensata Technologies, Inc. 3.75% 2/15/20311
|
380
|
329
|
|
|
Singapore Airlines, Ltd. 5.25% 3/21/2034
|
6,790
|
6,840
|
|
|
SkyMiles IP, Ltd. 4.75% 10/20/20281
|
770
|
753
|
|
|
SkyMiles IP, Ltd., Term Loan, (3-month USD CME Term SOFR + 3.75%) 9.068% 10/20/20273,4
|
563
|
581
|
|
|
Spirit AeroSystems, Inc. 4.60% 6/15/2028
|
20,875
|
19,589
|
|
|
Spirit AeroSystems, Inc. 9.375% 11/30/20291
|
7,444
|
8,129
|
|
|
Spirit AeroSystems, Inc. 9.75% 11/15/20301
|
10,110
|
11,321
|
|
|
Spirit AeroSystems, Inc., Term Loan,
(3-month CME Term SOFR + 4.25%) 9.563% 1/15/20273,4
|
394
|
397
|
|
|
SRS Distribution, Inc. 4.625% 7/1/20281
|
744
|
750
|
|
|
SRS Distribution, Inc. 6.125% 7/1/20291
|
470
|
480
|
|
|
TK Elevator Holdco GmbH 7.625% 7/15/20281
|
8,135
|
7,985
|
|
|
TransDigm, Inc. 7.50% 3/15/2027
|
590
|
591
|
|
|
TransDigm, Inc. 5.50% 11/15/2027
|
3,400
|
3,331
|
|
|
TransDigm, Inc. 6.75% 8/15/20281
|
9,080
|
9,211
|
|
|
TransDigm, Inc. 4.625% 1/15/2029
|
12,015
|
11,164
|
|
|
TransDigm, Inc. 6.375% 3/1/20291
|
6,340
|
6,368
|
|
|
TransDigm, Inc. 4.875% 5/1/2029
|
1,990
|
1,853
|
|
|
TransDigm, Inc. 6.625% 3/1/20321
|
8,150
|
8,244
|
|
|
Triumph Group, Inc. 9.00% 3/15/20281
|
27,592
|
29,123
|
|
|
Uber Technologies, Inc. 8.00% 11/1/20261
|
13,360
|
13,530
|
|
|
Union Pacific Corp. 2.80% 2/14/2032
|
13,200
|
11,465
|
|
|
Union Pacific Corp. 4.30% 3/1/2049
|
75
|
64
|
|
|
Union Pacific Corp. 3.25% 2/5/2050
|
13
|
10
|
|
|
Union Pacific Corp. 2.95% 3/10/2052
|
8,965
|
6,037
|
|
|
United Airlines, Inc. 4.375% 4/15/20261
|
1,620
|
1,567
|
|
|
United Airlines, Inc. 4.625% 4/15/20291
|
1,315
|
1,224
|
|
|
United Rentals (North America), Inc. 5.25% 1/15/2030
|
5,300
|
5,174
|
|
|
United Rentals (North America), Inc. 3.75% 1/15/2032
|
4,600
|
4,021
|
|
|
United Rentals (North America), Inc. 6.125% 3/15/20341
|
6,130
|
6,145
|
|
|
Waste Management, Inc. 4.625% 2/15/2030
|
10,000
|
9,958
|
|
|
Waste Management, Inc. 4.625% 2/15/2033
|
5,500
|
5,387
|
|
|
WESCO Distribution, Inc. 7.125% 6/15/20251
|
1,975
|
1,978
|
|
|
WESCO Distribution, Inc. 7.25% 6/15/20281
|
6,985
|
7,137
|
|
|
WESCO Distribution, Inc. 6.625% 3/15/20321
|
10,095
|
10,271
|
|
|
|
|
|
837,135
|
|
Materials 5.01%
|
|
|
|
|
Alpek, SAB de CV 3.25% 2/25/2031
|
8,300
|
7,113
|
|
|
Alpek, SAB de CV 3.25% 2/25/20311
|
1,100
|
943
|
|
|
Anglo American Capital PLC 2.625% 9/10/20301
|
5,960
|
5,077
|
|
|
Anglo American Capital PLC 2.875% 3/17/20311
|
561
|
478
|
|
|
Anglo American Capital PLC 3.95% 9/10/20501
|
206
|
155
|
|
|
ArcelorMittal SA 4.25% 7/16/2029
|
722
|
690
|
|
American Funds Multi-Sector Income Fund — Page 15 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Materials (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
ARD Finance SA 6.50% Cash 6/30/20271,8
|
USD7,753
|
$2,603
|
|
|
Ardagh Metal Packaging Finance PLC 4.00% 9/1/20291
|
16,320
|
13,172
|
|
|
ATI, Inc. 4.875% 10/1/2029
|
12,345
|
11,630
|
|
|
ATI, Inc. 7.25% 8/15/2030
|
4,275
|
4,424
|
|
|
ATI, Inc. 5.125% 10/1/2031
|
6,210
|
5,760
|
|
|
Axalta Coating Systems Dutch Holding B BV 7.25% 2/15/20311
|
4,175
|
4,348
|
|
|
Axalta Coating Systems, LLC 4.75% 6/15/20271
|
11,005
|
10,630
|
|
|
BHP Billiton Finance (USA), Ltd. 4.90% 2/28/2033
|
3,102
|
3,077
|
|
|
BHP Billiton Finance (USA), Ltd. 5.25% 9/8/2033
|
15,331
|
15,518
|
|
|
BHP Billiton Finance (USA), Ltd. 5.50% 9/8/2053
|
7,924
|
8,195
|
|
|
Braskem Idesa SAPI 7.45% 11/15/2029
|
4,900
|
4,011
|
|
|
Braskem Idesa SAPI 7.45% 11/15/20291
|
2,150
|
1,760
|
|
|
Braskem Idesa SAPI 6.99% 2/20/2032
|
29,775
|
23,133
|
|
|
Braskem Idesa SAPI 6.99% 2/20/20321
|
5,880
|
4,568
|
|
|
Braskem Netherlands Finance BV 4.50% 1/10/2028
|
8,742
|
7,854
|
|
|
Braskem Netherlands Finance BV 4.50% 1/31/20301
|
1,170
|
1,007
|
|
|
Braskem Netherlands Finance BV 4.50% 1/31/2030
|
850
|
731
|
|
|
Braskem Netherlands Finance BV 8.50% 1/12/20311
|
9,551
|
9,910
|
|
|
Braskem Netherlands Finance BV 8.50% 1/12/2031
|
5,258
|
5,456
|
|
|
Braskem Netherlands Finance BV 7.25% 2/13/20331
|
9,535
|
9,178
|
|
|
Braskem Netherlands Finance BV 7.25% 2/13/2033
|
8,200
|
7,893
|
|
|
Braskem Netherlands Finance BV 5.875% 1/31/20501
|
400
|
309
|
|
|
CAN-PACK Spolka Akcyjna 3.875% 11/15/20291
|
265
|
235
|
|
|
Celanese US Holdings, LLC 6.35% 11/15/2028
|
10,129
|
10,500
|
|
|
Celanese US Holdings, LLC 6.379% 7/15/2032
|
15,286
|
15,871
|
|
|
Celanese US Holdings, LLC 6.70% 11/15/2033
|
9,028
|
9,632
|
|
|
Cleveland-Cliffs, Inc. 5.875% 6/1/2027
|
630
|
629
|
|
|
Cleveland-Cliffs, Inc. 4.625% 3/1/20291
|
405
|
378
|
|
|
Cleveland-Cliffs, Inc. 4.875% 3/1/20311
|
387
|
352
|
|
|
Consolidated Energy Finance SA 12.00% 2/15/20311
|
28,295
|
29,586
|
|
|
CSN Resources SA 8.875% 12/5/20301
|
14,500
|
14,969
|
|
|
CSN Resources SA 8.875% 12/5/2030
|
1,693
|
1,748
|
|
|
CVR Partners, LP 6.125% 6/15/20281
|
4,770
|
4,589
|
|
|
Dow Chemical Co. (The) 5.15% 2/15/2034
|
14,632
|
14,589
|
|
|
Dow Chemical Co. (The) 5.55% 11/30/2048
|
2,632
|
2,572
|
|
|
Dow Chemical Co. (The) 6.90% 5/15/2053
|
1,149
|
1,329
|
|
|
Dow Chemical Co. (The) 5.60% 2/15/2054
|
12,049
|
12,010
|
|
|
Eastman Chemical Co. 5.625% 2/20/2034
|
10,109
|
10,171
|
|
|
EIDP, Inc. 4.80% 5/15/2033
|
15,576
|
15,367
|
|
|
Element Solutions, Inc. 3.875% 9/1/20281
|
11,735
|
10,778
|
|
|
First Quantum Minerals, Ltd. 6.875% 10/15/20271
|
21,829
|
20,954
|
|
|
First Quantum Minerals, Ltd. 9.375% 3/1/20291
|
23,075
|
23,933
|
|
|
Freeport-McMoRan, Inc. 4.25% 3/1/2030
|
153
|
145
|
|
|
Freeport-McMoRan, Inc. 5.45% 3/15/2043
|
183
|
175
|
|
|
Fresnillo PLC 4.25% 10/2/20501
|
1,100
|
831
|
|
|
FXI Holdings, Inc. 12.25% 11/15/20261
|
24,788
|
24,881
|
|
|
FXI Holdings, Inc. 12.25% 11/15/20261
|
7,050
|
7,061
|
|
|
GC Treasury Center Co., Ltd. 4.40% 3/30/2032
|
26,500
|
24,087
|
|
|
GC Treasury Center Co., Ltd. 4.40% 3/30/20321
|
1,600
|
1,454
|
|
|
International Flavors & Fragrances, Inc. 3.468% 12/1/20501
|
20,679
|
13,793
|
|
|
LABL, Inc. 6.75% 7/15/20261
|
430
|
425
|
|
|
LABL, Inc. 10.50% 7/15/20271
|
280
|
278
|
|
|
LABL, Inc. 5.875% 11/1/20281
|
1,540
|
1,419
|
|
|
LABL, Inc. 9.50% 11/1/20281
|
6,555
|
6,639
|
|
American Funds Multi-Sector Income Fund — Page 16 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Materials (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
LSB Industries, Inc. 6.25% 10/15/20281
|
USD15,000
|
$14,452
|
|
|
LYB International Finance III, LLC 3.625% 4/1/2051
|
1,091
|
774
|
|
|
Methanex Corp. 5.125% 10/15/2027
|
2,650
|
2,566
|
|
|
Methanex Corp. 5.25% 12/15/2029
|
760
|
728
|
|
|
Mineral Resources, Ltd. 8.125% 5/1/20271
|
2,950
|
2,987
|
|
|
Mineral Resources, Ltd. 8.00% 11/1/20271
|
2,000
|
2,043
|
|
|
Mineral Resources, Ltd. 9.25% 10/1/20281
|
16,440
|
17,335
|
|
|
Miter Brands Acquisition Holdco, Inc. 6.75% 4/1/20321
|
5,340
|
5,362
|
|
|
NOVA Chemicals Corp. 5.25% 6/1/20271
|
8,480
|
7,993
|
|
|
NOVA Chemicals Corp. 8.50% 11/15/20281
|
6,710
|
7,150
|
|
|
NOVA Chemicals Corp. 4.25% 5/15/20291
|
8,795
|
7,540
|
|
|
NOVA Chemicals Corp. 9.00% 2/15/20301
|
14,410
|
14,886
|
|
|
Novelis Corp. 3.25% 11/15/20261
|
1,190
|
1,110
|
|
|
Novelis Corp. 4.75% 1/30/20301
|
6,326
|
5,842
|
|
|
Novelis Corp. 3.875% 8/15/20311
|
7,021
|
6,038
|
|
|
OCI NV 6.70% 3/16/20331
|
22,616
|
22,561
|
|
|
Sasol Financing USA, LLC 8.75% 5/3/20291
|
22,000
|
22,444
|
|
|
Sasol Financing USA, LLC 5.50% 3/18/2031
|
20,300
|
17,119
|
|
|
SCIH Salt Holdings, Inc. 4.875% 5/1/20281
|
9,870
|
9,205
|
|
|
SCIH Salt Holdings, Inc. 6.625% 5/1/20291
|
13,505
|
12,518
|
|
|
Sealed Air Corp. 4.00% 12/1/20271
|
11,364
|
10,661
|
|
|
Sealed Air Corp. 6.125% 2/1/20281
|
22,390
|
22,456
|
|
|
Stillwater Mining Co. 4.00% 11/16/20267
|
6,060
|
5,421
|
|
|
Stillwater Mining Co. 4.50% 11/16/20297
|
9,940
|
7,850
|
|
|
Summit Materials, LLC 6.50% 3/15/20271
|
270
|
270
|
|
|
Summit Materials, LLC 5.25% 1/15/20291
|
9,355
|
9,125
|
|
|
Summit Materials, LLC 7.25% 1/15/20311
|
7,293
|
7,586
|
|
|
Trivium Packaging Finance BV 8.50% 8/15/20271
|
11,128
|
11,002
|
|
|
Tronox, Inc. 4.625% 3/15/20291
|
8,675
|
7,792
|
|
|
Venator Finance SARL, Term Loan,
(USD-SOFR + 8.00%) 8.00% PIK and SOFR + 2.00% Cash 12/31/20253,4,8
|
595
|
607
|
|
|
Venator Finance SARL, Term Loan,
(USD-SOFR + 10.00%) 8.00% PIK and 7.36% Cash 10/10/20283,4,8
|
1,736
|
1,727
|
|
|
|
|
|
716,153
|
|
Communication services 4.64%
|
|
|
|
|
Altice France Holding SA 10.50% 5/15/20271
|
1,520
|
570
|
|
|
Altice France SA 5.125% 7/15/20291
|
14,433
|
9,773
|
|
|
Altice France SA 5.50% 10/15/20291
|
3,500
|
2,379
|
|
|
América Móvil, SAB de CV 4.70% 7/21/2032
|
10,000
|
9,675
|
|
|
AT&T, Inc. 2.25% 2/1/2032
|
500
|
407
|
|
|
AT&T, Inc. 5.40% 2/15/2034
|
3,000
|
3,040
|
|
|
AT&T, Inc. 3.55% 9/15/2055
|
15,245
|
10,668
|
|
|
Axiata SPV5 (Labuan), Ltd. 3.064% 8/19/2050
|
6,300
|
4,297
|
|
|
CCO Holdings, LLC 5.00% 2/1/20281
|
4,885
|
4,551
|
|
|
CCO Holdings, LLC 6.375% 9/1/20291
|
8,275
|
7,856
|
|
|
CCO Holdings, LLC 4.75% 3/1/20301
|
14,300
|
12,288
|
|
|
CCO Holdings, LLC 4.50% 8/15/20301
|
7,111
|
5,964
|
|
|
CCO Holdings, LLC 4.25% 2/1/20311
|
9,700
|
7,928
|
|
|
CCO Holdings, LLC 4.75% 2/1/20321
|
8,000
|
6,537
|
|
|
CCO Holdings, LLC 4.50% 5/1/2032
|
2,445
|
1,966
|
|
|
CCO Holdings, LLC 4.50% 6/1/20331
|
26,420
|
20,660
|
|
|
CCO Holdings, LLC 4.25% 1/15/20341
|
27,820
|
21,024
|
|
|
Charter Communications Operating, LLC 2.30% 2/1/2032
|
6,600
|
5,094
|
|
American Funds Multi-Sector Income Fund — Page 17 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Communication services (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Charter Communications Operating, LLC 4.40% 4/1/2033
|
USD11,365
|
$10,078
|
|
|
Charter Communications Operating, LLC 3.70% 4/1/2051
|
47,750
|
29,564
|
|
|
Charter Communications Operating, LLC 3.90% 6/1/2052
|
710
|
452
|
|
|
Charter Communications Operating, LLC 5.25% 4/1/2053
|
18,330
|
14,533
|
|
|
Comcast Corp. 2.65% 2/1/2030
|
200
|
178
|
|
|
Comcast Corp. 4.80% 5/15/2033
|
4,744
|
4,682
|
|
|
Comcast Corp. 3.75% 4/1/2040
|
15
|
12
|
|
|
Comcast Corp. 2.887% 11/1/2051
|
1,555
|
1,010
|
|
|
Comcast Corp. 5.35% 5/15/2053
|
850
|
844
|
|
|
Connect Finco SARL 6.75% 10/1/20261
|
16,686
|
16,368
|
|
|
Consolidated Communications, Inc. 5.00% 10/1/20281
|
1,400
|
1,168
|
|
|
Diamond Sports Group, LLC 6.625% 8/15/20271,5
|
3,175
|
89
|
|
|
Diamond Sports Group, LLC, Term Loan, 5.00% PIK and 5.00% Cash 12/2/20243,8
|
176
|
293
|
|
|
DIRECTV Financing, LLC 5.875% 8/15/20271
|
12,385
|
11,724
|
|
|
DIRECTV Financing, LLC, Term Loan,
(3-month USD CME Term SOFR + 5.00%) 10.445% 8/2/20273,4
|
1,793
|
1,802
|
|
|
DISH DBS Corp. 5.875% 11/15/2024
|
42,275
|
40,540
|
|
|
DISH DBS Corp. 7.75% 7/1/2026
|
5,975
|
4,005
|
|
|
DISH Network Corp. 11.75% 11/15/20271
|
20,200
|
20,643
|
|
|
Embarq Corp. 7.995% 6/1/2036
|
1,905
|
1,037
|
|
|
Frontier Communications Holdings, LLC 6.75% 5/1/20291
|
23,417
|
20,895
|
|
|
Frontier Communications Holdings, LLC 5.875% 11/1/2029
|
11,709
|
9,906
|
|
|
Frontier Communications Holdings, LLC 6.00% 1/15/20301
|
6,005
|
5,093
|
|
|
Gray Television, Inc. 5.875% 7/15/20261
|
12,400
|
12,084
|
|
|
Gray Television, Inc. 4.75% 10/15/20301
|
7,680
|
5,043
|
|
|
Gray Television, Inc. 5.375% 11/15/20311
|
20,795
|
13,656
|
|
|
iHeartCommunications, Inc. 5.25% 8/15/20271
|
620
|
452
|
|
|
Lamar Media Corp. 4.875% 1/15/2029
|
4,530
|
4,369
|
|
|
Lamar Media Corp. 4.00% 2/15/2030
|
5,930
|
5,394
|
|
|
Lamar Media Corp. 3.625% 1/15/2031
|
7,090
|
6,226
|
|
|
Ligado Networks, LLC 15.50% PIK 11/11/20231,5,8
|
2,000
|
305
|
|
|
Meta Platforms, Inc. 4.45% 8/15/2052
|
40,000
|
35,589
|
|
|
Midas OpCo Holdings, LLC 5.625% 8/15/20291
|
6,603
|
6,002
|
|
|
Netflix, Inc. 4.875% 4/15/2028
|
18,132
|
18,112
|
|
|
Netflix, Inc. 5.375% 11/15/20291
|
5,947
|
6,071
|
|
|
Netflix, Inc. 4.875% 6/15/20301
|
1,372
|
1,363
|
|
|
News Corp. 3.875% 5/15/20291
|
17,947
|
16,427
|
|
|
Nexstar Media, Inc. 4.75% 11/1/20281
|
13,800
|
12,587
|
|
|
PLDT, Inc. 2.50% 1/23/2031
|
5,500
|
4,613
|
|
|
SBA Tower Trust 1.631% 11/15/20261
|
4,000
|
3,622
|
|
|
Scripps Escrow II, Inc. 3.875% 1/15/20291
|
1,500
|
1,194
|
|
|
Sirius XM Radio, Inc. 3.125% 9/1/20261
|
2,310
|
2,166
|
|
|
Sirius XM Radio, Inc. 4.00% 7/15/20281
|
10,305
|
9,435
|
|
|
Sirius XM Radio, Inc. 4.125% 7/1/20301
|
9,930
|
8,687
|
|
|
Sirius XM Radio, Inc. 3.875% 9/1/20311
|
31,215
|
26,049
|
|
|
Tencent Holdings, Ltd. 3.975% 4/11/2029
|
2,400
|
2,282
|
|
|
Tencent Holdings, Ltd. 3.68% 4/22/2041
|
593
|
475
|
|
|
Tencent Holdings, Ltd. 3.24% 6/3/2050
|
5,584
|
3,805
|
|
|
Tencent Holdings, Ltd. 3.24% 6/3/20501
|
1,400
|
954
|
|
|
Tencent Holdings, Ltd. 3.84% 4/22/2051
|
6,423
|
4,889
|
|
|
T-Mobile USA, Inc. 4.85% 1/15/2029
|
4,000
|
3,972
|
|
|
T-Mobile USA, Inc. 3.875% 4/15/2030
|
300
|
281
|
|
|
T-Mobile USA, Inc. 2.55% 2/15/2031
|
23,268
|
19,829
|
|
|
T-Mobile USA, Inc. 5.05% 7/15/2033
|
4,423
|
4,377
|
|
American Funds Multi-Sector Income Fund — Page 18 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Communication services (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
T-Mobile USA, Inc. 5.75% 1/15/2034
|
USD1,735
|
$1,808
|
|
|
T-Mobile USA, Inc. 5.15% 4/15/2034
|
4,572
|
4,558
|
|
|
T-Mobile USA, Inc. 3.40% 10/15/2052
|
1,160
|
824
|
|
|
T-Mobile USA, Inc. 6.00% 6/15/2054
|
706
|
755
|
|
|
T-Mobile USA, Inc. 5.50% 1/15/2055
|
424
|
424
|
|
|
Univision Communications, Inc. 8.00% 8/15/20281
|
4,620
|
4,710
|
|
|
Univision Communications, Inc. 4.50% 5/1/20291
|
48,069
|
42,999
|
|
|
Univision Communications, Inc. 7.375% 6/30/20301
|
19,796
|
19,591
|
|
|
UPC Broadband Finco BV 4.875% 7/15/20311
|
4,610
|
4,119
|
|
|
Verizon Communications, Inc. 1.75% 1/20/2031
|
10,984
|
8,919
|
|
|
Verizon Communications, Inc. 2.55% 3/21/2031
|
853
|
729
|
|
|
Virgin Media Secured Finance PLC 4.50% 8/15/20301
|
765
|
660
|
|
|
VMED O2 UK Financing I PLC 4.25% 1/31/20311
|
610
|
517
|
|
|
WMG Acquisition Corp. 3.75% 12/1/20291
|
1,535
|
1,377
|
|
|
WMG Acquisition Corp. 3.875% 7/15/20301
|
745
|
661
|
|
|
Ziggo BV 4.875% 1/15/20301
|
730
|
656
|
|
|
|
|
|
663,210
|
|
Utilities 4.38%
|
|
|
|
|
Aegea Finance SARL 9.00% 1/20/20311
|
12,045
|
12,764
|
|
|
AEP Transmission Co., LLC 5.15% 4/1/2034
|
1,725
|
1,720
|
|
|
AEP Transmission Co., LLC 2.75% 8/15/2051
|
2,476
|
1,560
|
|
|
AES Panama Generation Holdings, SRL 4.375% 5/31/2030
|
3,823
|
3,320
|
|
|
AES Panama Generation Holdings, SRL 4.375% 5/31/20301
|
859
|
746
|
|
|
Alabama Power Co. 3.94% 9/1/2032
|
14,076
|
13,064
|
|
|
Alabama Power Co. 5.85% 11/15/2033
|
3,100
|
3,266
|
|
|
Alfa Desarrollo SpA 4.55% 9/27/20511
|
7,095
|
5,427
|
|
|
Alliant Energy Finance, LLC 3.60% 3/1/20321
|
2,125
|
1,874
|
|
|
American Electric Power Co., Inc. 1.00% 11/1/2025
|
25
|
23
|
|
|
Cleveland Electric Illuminating Co. (The) 4.55% 11/15/20301
|
205
|
192
|
|
|
Connecticut Light and Power Co. (The) 2.05% 7/1/2031
|
175
|
143
|
|
|
Consumers Energy Co. 3.80% 11/15/2028
|
2,000
|
1,921
|
|
|
Consumers Energy Co. 4.60% 5/30/2029
|
1,625
|
1,607
|
|
|
Consumers Energy Co. 3.60% 8/15/2032
|
7,969
|
7,229
|
|
|
Consumers Energy Co. 4.625% 5/15/2033
|
16,690
|
16,256
|
|
|
DPL, Inc. 4.125% 7/1/2025
|
7,600
|
7,436
|
|
|
DTE Electric Co. 3.65% 3/1/2052
|
2,100
|
1,593
|
|
|
DTE Energy Co. 5.10% 3/1/2029
|
3,425
|
3,413
|
|
|
Duke Energy Carolinas, LLC 5.35% 1/15/2053
|
4,980
|
4,917
|
|
|
Duke Energy Corp. 5.75% 9/15/2033
|
8,000
|
8,223
|
|
|
Duke Energy Corp. 3.50% 6/15/2051
|
1,025
|
721
|
|
|
Duke Energy Corp. 6.10% 9/15/2053
|
4,000
|
4,231
|
|
|
Duke Energy Florida, LLC 1.75% 6/15/2030
|
74
|
62
|
|
|
Duke Energy Florida, LLC 5.95% 11/15/2052
|
2,025
|
2,154
|
|
|
Duke Energy Progress, LLC 2.00% 8/15/2031
|
2,925
|
2,389
|
|
|
Duke Energy Progress, LLC 2.50% 8/15/2050
|
1,099
|
662
|
|
|
Edison International 4.125% 3/15/2028
|
7,467
|
7,169
|
|
|
Edison International 6.95% 11/15/2029
|
3,200
|
3,431
|
|
|
Edison International 5.00% junior subordinated perpetual bonds
(5-year UST Yield Curve Rate T Note Constant Maturity + 3.901% on 3/15/2027)2
|
4,000
|
3,800
|
|
|
Electricité de France SA 9.125% junior subordinated perpetual bonds
(5-year UST Yield Curve Rate T Note Constant Maturity + 5.411% on 6/15/2033)1,2
|
14,000
|
15,459
|
|
|
Empresas Publicas de Medellin ESP 4.25% 7/18/20291
|
500
|
435
|
|
|
Empresas Publicas de Medellin ESP 4.25% 7/18/2029
|
200
|
174
|
|
American Funds Multi-Sector Income Fund — Page 19 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Utilities (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Empresas Publicas de Medellin ESP 4.375% 2/15/20311
|
USD950
|
$795
|
|
|
Enfragen Energia Sur SA 5.375% 12/30/2030
|
6,300
|
5,229
|
|
|
ENN Clean Energy International Investment, Ltd. 3.375% 5/12/20261
|
3,670
|
3,474
|
|
|
Entergy Corp. 2.40% 6/15/2031
|
5,750
|
4,780
|
|
|
Entergy Louisiana, LLC 2.35% 6/15/2032
|
3,736
|
3,054
|
|
|
Entergy Louisiana, LLC 5.35% 3/15/2034
|
4,720
|
4,740
|
|
|
Entergy Louisiana, LLC 5.70% 3/15/2054
|
2,580
|
2,627
|
|
|
Eskom Holdings SOC, Ltd. 8.45% 8/10/2028
|
6,500
|
6,472
|
|
|
Eversource Energy 1.65% 8/15/2030
|
4,026
|
3,240
|
|
|
Eversource Energy 5.50% 1/1/2034
|
12,300
|
12,310
|
|
|
FirstEnergy Corp. 2.65% 3/1/2030
|
33,135
|
28,512
|
|
|
FirstEnergy Corp. 2.25% 9/1/2030
|
3,743
|
3,117
|
|
|
FirstEnergy Corp. 3.40% 3/1/2050
|
5,049
|
3,485
|
|
|
FirstEnergy Transmission, LLC 4.35% 1/15/20251
|
23,954
|
23,668
|
|
|
Florida Power & Light Co. 5.05% 4/1/2028
|
3,275
|
3,312
|
|
|
Florida Power & Light Co. 5.10% 4/1/2033
|
3,261
|
3,285
|
|
|
Georgia Power Co. 5.004% 2/23/2027
|
2,135
|
2,139
|
|
|
Georgia Power Co. 4.95% 5/17/2033
|
9,475
|
9,347
|
|
|
Georgia Power Co. 5.25% 3/15/2034
|
4,475
|
4,524
|
|
|
Instituto Costarricense de Electricidad 6.75% 10/7/2031
|
4,900
|
4,961
|
|
|
Investment Energy Resources, Ltd. 6.25% 4/26/20291
|
350
|
336
|
|
|
Jersey Central Power & Light Co. 4.30% 1/15/20261
|
50
|
49
|
|
|
Jersey Central Power & Light Co. 2.75% 3/1/20321
|
4,202
|
3,502
|
|
|
Light Servicos de Eletricidade SA 4.375% 6/18/20265
|
9,800
|
4,686
|
|
|
Mid-Atlantic Interstate Transmission, LLC 4.10% 5/15/20281
|
834
|
802
|
|
|
Minejesa Capital BV 4.625% 8/10/2030
|
3,719
|
3,539
|
|
|
MIWD Holdco II, LLC, Term Loan B,
(1-month USD CME Term SOFR + 3.50%) 8.825% 3/20/20313,4
|
4,820
|
4,849
|
|
|
Monongahela Power Co. 3.55% 5/15/20271
|
1,775
|
1,689
|
|
|
MVM Energetika Zartkoruen Mukodo Reszvenytarsasag 7.50% 6/9/2028
|
2,185
|
2,278
|
|
|
NextEra Energy Capital Holdings, Inc. 4.90% 3/15/2029
|
2,000
|
1,993
|
|
|
Oncor Electric Delivery Co., LLC 4.55% 9/15/2032
|
964
|
932
|
|
|
Oncor Electric Delivery Co., LLC 5.65% 11/15/2033
|
3,575
|
3,721
|
|
|
Pacific Gas and Electric Co. 2.95% 3/1/2026
|
258
|
246
|
|
|
Pacific Gas and Electric Co. 2.10% 8/1/2027
|
17,728
|
15,969
|
|
|
Pacific Gas and Electric Co. 3.00% 6/15/2028
|
1,124
|
1,027
|
|
|
Pacific Gas and Electric Co. 4.65% 8/1/2028
|
125
|
121
|
|
|
Pacific Gas and Electric Co. 4.55% 7/1/2030
|
18,419
|
17,518
|
|
|
Pacific Gas and Electric Co. 2.50% 2/1/2031
|
16,588
|
13,807
|
|
|
Pacific Gas and Electric Co. 3.25% 6/1/2031
|
7,842
|
6,813
|
|
|
Pacific Gas and Electric Co. 4.40% 3/1/2032
|
5,564
|
5,140
|
|
|
Pacific Gas and Electric Co. 5.90% 6/15/2032
|
10,200
|
10,381
|
|
|
Pacific Gas and Electric Co. 6.15% 1/15/2033
|
1,888
|
1,948
|
|
|
Pacific Gas and Electric Co. 6.40% 6/15/2033
|
17,580
|
18,531
|
|
|
Pacific Gas and Electric Co. 3.30% 8/1/2040
|
920
|
676
|
|
|
Pacific Gas and Electric Co. 4.95% 7/1/2050
|
1,264
|
1,088
|
|
|
Pacific Gas and Electric Co. 3.50% 8/1/2050
|
10,135
|
6,934
|
|
|
Pacific Gas and Electric Co. 6.75% 1/15/2053
|
1,700
|
1,854
|
|
|
PacifiCorp 5.30% 2/15/2031
|
6,225
|
6,247
|
|
|
PacifiCorp 5.45% 2/15/2034
|
9,900
|
9,937
|
|
|
PacifiCorp 4.15% 2/15/2050
|
475
|
374
|
|
|
PacifiCorp 3.30% 3/15/2051
|
2,075
|
1,386
|
|
|
PacifiCorp 2.90% 6/15/2052
|
774
|
475
|
|
|
PacifiCorp 5.35% 12/1/2053
|
15,509
|
14,453
|
|
American Funds Multi-Sector Income Fund — Page 20 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Utilities (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
PacifiCorp 5.50% 5/15/2054
|
USD20,156
|
$19,414
|
|
|
PacifiCorp 5.80% 1/15/2055
|
11,085
|
10,942
|
|
|
PG&E Corp. 5.00% 7/1/2028
|
1,610
|
1,552
|
|
|
PG&E Corp. 5.25% 7/1/2030
|
21,900
|
20,833
|
|
|
Public Service Company of Colorado 1.90% 1/15/2031
|
2,829
|
2,321
|
|
|
Public Service Company of Colorado 1.875% 6/15/2031
|
6,542
|
5,294
|
|
|
Public Service Company of Colorado 4.10% 6/15/2048
|
400
|
317
|
|
|
Public Service Company of Colorado 3.20% 3/1/2050
|
900
|
613
|
|
|
Public Service Company of Colorado 2.70% 1/15/2051
|
1,025
|
621
|
|
|
Public Service Company of Colorado 5.25% 4/1/2053
|
3,576
|
3,398
|
|
|
Southern California Edison Co. 0.975% 8/1/2024
|
2,240
|
2,205
|
|
|
Southern California Edison Co. 4.70% 6/1/2027
|
16,176
|
16,004
|
|
|
Southern California Edison Co. 3.65% 3/1/2028
|
209
|
199
|
|
|
Southern California Edison Co. 5.65% 10/1/2028
|
6,645
|
6,840
|
|
|
Southern California Edison Co. 4.20% 3/1/2029
|
3,200
|
3,087
|
|
|
Southern California Edison Co. 2.85% 8/1/2029
|
1,280
|
1,154
|
|
|
Southern California Edison Co. 2.50% 6/1/2031
|
10,829
|
9,150
|
|
|
Southern California Edison Co. 2.75% 2/1/2032
|
3,400
|
2,880
|
|
|
Southern California Edison Co. 5.20% 6/1/2034
|
15,000
|
14,856
|
|
|
Southern California Edison Co. 3.60% 2/1/2045
|
2,643
|
1,991
|
|
|
Southern California Edison Co. 3.65% 2/1/2050
|
4,400
|
3,264
|
|
|
Southern California Edison Co. 5.75% 4/15/2054
|
3,225
|
3,274
|
|
|
Southwestern Electric Power Co. 3.25% 11/1/2051
|
3,775
|
2,509
|
|
|
State Grid Overseas Investment (2013), Ltd. 4.375% 5/22/2043
|
2,800
|
2,591
|
|
|
State Grid Overseas Investment (2014), Ltd. 4.85% 5/7/2044
|
2,000
|
1,964
|
|
|
Talen Energy Supply, LLC 8.625% 6/1/20301
|
16,668
|
17,837
|
|
|
Talen Energy Supply, LLC, Term Loan B,
(3-month USD CME Term SOFR + 4.50%) 9.826% 5/17/20303,4
|
4,422
|
4,445
|
|
|
Union Electric Co. 2.625% 3/15/2051
|
1,880
|
1,159
|
|
|
Virginia Electric & Power 2.30% 11/15/2031
|
1,250
|
1,040
|
|
|
Virginia Electric & Power 2.40% 3/30/2032
|
2,225
|
1,846
|
|
|
Wisconsin Power and Light Co. 1.95% 9/16/2031
|
2,240
|
1,809
|
|
|
Xcel Energy, Inc. 3.35% 12/1/2026
|
1,130
|
1,074
|
|
|
Xcel Energy, Inc. 1.75% 3/15/2027
|
578
|
521
|
|
|
Xcel Energy, Inc. 2.35% 11/15/2031
|
1,660
|
1,341
|
|
|
Xcel Energy, Inc. 4.60% 6/1/2032
|
1,750
|
1,647
|
|
|
Xcel Energy, Inc. 5.45% 8/15/2033
|
19,509
|
19,403
|
|
|
Xcel Energy, Inc. 3.50% 12/1/2049
|
3,874
|
2,689
|
|
|
|
|
|
625,837
|
|
Consumer staples 3.84%
|
|
|
|
|
7-Eleven, Inc. 0.95% 2/10/20261
|
255
|
236
|
|
|
7-Eleven, Inc. 1.30% 2/10/20281
|
149
|
130
|
|
|
7-Eleven, Inc. 1.80% 2/10/20311
|
13,213
|
10,618
|
|
|
7-Eleven, Inc. 2.50% 2/10/20411
|
900
|
610
|
|
|
7-Eleven, Inc. 2.80% 2/10/20511
|
10,815
|
6,723
|
|
|
Albertsons Companies, Inc. 3.50% 3/15/20291
|
3,185
|
2,862
|
|
|
Altria Group, Inc. 3.70% 2/4/2051
|
3,567
|
2,496
|
|
|
Anheuser-Busch Companies, LLC 4.90% 2/1/2046
|
90
|
86
|
|
|
Anheuser-Busch InBev Worldwide, Inc. 4.60% 4/15/2048
|
1,603
|
1,467
|
|
|
Anheuser-Busch InBev Worldwide, Inc. 4.439% 10/6/2048
|
180
|
160
|
|
|
Anheuser-Busch InBev Worldwide, Inc. 5.55% 1/23/2049
|
1,100
|
1,148
|
|
|
B&G Foods, Inc. 5.25% 4/1/2025
|
1,352
|
1,346
|
|
|
B&G Foods, Inc. 5.25% 9/15/2027
|
6,105
|
5,710
|
|
American Funds Multi-Sector Income Fund — Page 21 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Consumer staples (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
B&G Foods, Inc. 8.00% 9/15/20281
|
USD9,125
|
$9,513
|
|
|
BAT Capital Corp. 5.834% 2/20/2031
|
1,084
|
1,094
|
|
|
BAT Capital Corp. 2.726% 3/25/2031
|
2,750
|
2,314
|
|
|
BAT Capital Corp. 6.421% 8/2/2033
|
6,078
|
6,362
|
|
|
BAT Capital Corp. 6.00% 2/20/2034
|
10,000
|
10,132
|
|
|
BAT Capital Corp. 3.984% 9/25/2050
|
47,890
|
33,726
|
|
|
BAT Capital Corp. 5.65% 3/16/2052
|
2,375
|
2,146
|
|
|
BAT Capital Corp. 7.081% 8/2/2053
|
46,413
|
50,082
|
|
|
Campbell Soup Co. 5.20% 3/21/2029
|
1,925
|
1,935
|
|
|
Campbell Soup Co. 5.40% 3/21/2034
|
14,058
|
14,170
|
|
|
Central Garden & Pet Co. 4.125% 10/15/2030
|
3,600
|
3,233
|
|
|
Central Garden & Pet Co. 4.125% 4/30/20311
|
18,275
|
16,125
|
|
|
Conagra Brands, Inc. 1.375% 11/1/2027
|
5,125
|
4,486
|
|
|
Conagra Brands, Inc. 5.30% 11/1/2038
|
2
|
2
|
|
|
Constellation Brands, Inc. 2.875% 5/1/2030
|
1,040
|
921
|
|
|
Constellation Brands, Inc. 2.25% 8/1/2031
|
20,750
|
17,150
|
|
|
Constellation Brands, Inc. 4.75% 5/9/2032
|
2,834
|
2,770
|
|
|
Constellation Brands, Inc. 4.90% 5/1/2033
|
1,657
|
1,626
|
|
|
Coty, Inc. 6.625% 7/15/20301
|
8,115
|
8,247
|
|
|
Darling Ingredients, Inc. 6.00% 6/15/20301
|
16,970
|
16,831
|
|
|
Energizer Holdings, Inc. 4.375% 3/31/20291
|
8,080
|
7,249
|
|
|
Fiesta Purchaser, Inc. 7.875% 3/1/20311
|
6,530
|
6,749
|
|
|
Fiesta Purchaser, Inc., Term Loan B,
(1-month USD CME Term SOFR + 4.00%) 9.337% 1/31/20313,4
|
3,080
|
3,088
|
|
|
Indofood CBP Sukses Makmur Tbk PT 4.745% 6/9/2051
|
5,934
|
4,848
|
|
|
Ingles Markets, Inc. 4.00% 6/15/20311
|
11,345
|
9,913
|
|
|
InRetail Consumer 3.25% 3/22/20281
|
1,100
|
989
|
|
|
J. M. Smucker Co. (The) 6.20% 11/15/2033
|
4,956
|
5,289
|
|
|
J. M. Smucker Co. (The) 6.50% 11/15/2043
|
1,812
|
1,967
|
|
|
J. M. Smucker Co. (The) 6.50% 11/15/2053
|
4,877
|
5,420
|
|
|
Kronos Acquisition Holdings, Inc. 5.00% 12/31/20261
|
5,360
|
5,259
|
|
|
Kronos Acquisition Holdings, Inc. 7.00% 12/31/20271
|
10,166
|
10,107
|
|
|
Lamb Weston Holdings, Inc. 4.125% 1/31/20301
|
7,985
|
7,288
|
|
|
MARB BondCo PLC 3.95% 1/29/2031
|
21,365
|
17,632
|
|
|
MARB BondCo PLC 3.95% 1/29/20311
|
2,577
|
2,127
|
|
|
Minerva Luxembourg SA 8.875% 9/13/20331
|
12,895
|
13,576
|
|
|
Minerva Luxembourg SA 8.875% 9/13/2033
|
6,000
|
6,317
|
|
|
Natura Cosmeticos SA 4.125% 5/3/20281
|
3,800
|
3,473
|
|
|
Natura Cosmeticos SA 4.125% 5/3/2028
|
2,400
|
2,193
|
|
|
NBM US Holdings, Inc. 6.625% 8/6/20297
|
500
|
497
|
|
|
PepsiCo, Inc. 1.625% 5/1/2030
|
6
|
5
|
|
|
PepsiCo, Inc. 1.40% 2/25/2031
|
34
|
27
|
|
|
PepsiCo, Inc. 1.95% 10/21/2031
|
21,349
|
17,757
|
|
|
Performance Food Group, Inc. 5.50% 10/15/20271
|
4,105
|
4,033
|
|
|
Performance Food Group, Inc. 4.25% 8/1/20291
|
8,162
|
7,488
|
|
|
Philip Morris International, Inc. 5.125% 2/13/2031
|
728
|
724
|
|
|
Philip Morris International, Inc. 5.75% 11/17/2032
|
8,756
|
9,045
|
|
|
Philip Morris International, Inc. 5.375% 2/15/2033
|
31,210
|
31,480
|
|
|
Philip Morris International, Inc. 5.625% 9/7/2033
|
19,750
|
20,209
|
|
|
Philip Morris International, Inc. 5.25% 2/13/2034
|
15,104
|
14,977
|
|
|
Post Holdings, Inc. 5.625% 1/15/20281
|
7,370
|
7,247
|
|
|
Post Holdings, Inc. 5.50% 12/15/20291
|
3,355
|
3,245
|
|
|
Post Holdings, Inc. 4.625% 4/15/20301
|
12,811
|
11,770
|
|
|
Post Holdings, Inc. 6.25% 2/15/20321
|
8,143
|
8,212
|
|
American Funds Multi-Sector Income Fund — Page 22 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Consumer staples (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Prestige Brands, Inc. 5.125% 1/15/20281
|
USD5,345
|
$5,209
|
|
|
Prestige Brands, Inc. 3.75% 4/1/20311
|
5,985
|
5,216
|
|
|
Simmons Foods, Inc. 4.625% 3/1/20291
|
12,685
|
11,222
|
|
|
TreeHouse Foods, Inc. 4.00% 9/1/2028
|
16,925
|
15,201
|
|
|
United Natural Foods, Inc. 6.75% 10/15/20281
|
450
|
374
|
|
|
US Foods, Inc. 4.625% 6/1/20301
|
8,185
|
7,605
|
|
|
Walmart, Inc. 4.10% 4/15/2033
|
17,409
|
16,782
|
|
|
|
|
|
548,266
|
|
Real estate 3.76%
|
|
|
|
|
American Tower Corp. 2.95% 1/15/2051
|
15,000
|
9,686
|
|
|
Anywhere Real Estate Group, LLC 5.75% 1/15/20291
|
5,585
|
3,961
|
|
|
Anywhere Real Estate Group, LLC 5.25% 4/15/20301
|
11,770
|
8,016
|
|
|
Boston Properties, LP 2.55% 4/1/2032
|
3,980
|
3,150
|
|
|
Boston Properties, LP 2.45% 10/1/2033
|
5,420
|
4,085
|
|
|
Boston Properties, LP 6.50% 1/15/2034
|
20,469
|
21,245
|
|
|
Brookfield Property REIT, Inc. 5.75% 5/15/20261
|
8,480
|
8,332
|
|
|
Brookfield Property REIT, Inc. 4.50% 4/1/20271
|
3,780
|
3,454
|
|
|
COPT Defense Properties, LP 2.75% 4/15/2031
|
10,000
|
8,255
|
|
|
Corp. Inmobiliaria Vesta, SAB de CV 3.625% 5/13/20311
|
3,240
|
2,839
|
|
|
Crown Castle, Inc. 5.00% 1/11/2028
|
6,796
|
6,728
|
|
|
Crown Castle, Inc. 5.80% 3/1/2034
|
21,342
|
21,842
|
|
|
Equinix, Inc. 1.45% 5/15/2026
|
1,560
|
1,435
|
|
|
Equinix, Inc. 2.90% 11/18/2026
|
68
|
64
|
|
|
Equinix, Inc. 1.55% 3/15/2028
|
105
|
91
|
|
|
Equinix, Inc. 3.20% 11/18/2029
|
75
|
67
|
|
|
Equinix, Inc. 2.15% 7/15/2030
|
15,210
|
12,614
|
|
|
Equinix, Inc. 2.95% 9/15/2051
|
3,250
|
2,090
|
|
|
Equinix, Inc. 3.40% 2/15/2052
|
819
|
574
|
|
|
FibraSOMA 4.375% 7/22/20311
|
3,933
|
3,211
|
|
|
Highwoods Realty, LP 7.65% 2/1/2034
|
28,250
|
30,842
|
|
|
Howard Hughes Corp. (The) 5.375% 8/1/20281
|
2,931
|
2,815
|
|
|
Howard Hughes Corp. (The) 4.125% 2/1/20291
|
10,170
|
9,151
|
|
|
Howard Hughes Corp. (The) 4.375% 2/1/20311
|
12,265
|
10,662
|
|
|
Hudson Pacific Properties, LP 4.65% 4/1/2029
|
5,750
|
4,904
|
|
|
Hudson Pacific Properties, LP 3.25% 1/15/2030
|
18,550
|
14,306
|
|
|
Iron Mountain, Inc. 5.25% 3/15/20281
|
2,185
|
2,116
|
|
|
Iron Mountain, Inc. 5.00% 7/15/20281
|
2,224
|
2,130
|
|
|
Iron Mountain, Inc. 5.25% 7/15/20301
|
4,555
|
4,314
|
|
|
Iron Mountain, Inc. 4.50% 2/15/20311
|
2,385
|
2,154
|
|
|
Kennedy-Wilson, Inc. 4.75% 3/1/2029
|
28,655
|
23,621
|
|
|
Kennedy-Wilson, Inc. 4.75% 2/1/2030
|
37,650
|
30,073
|
|
|
Kennedy-Wilson, Inc. 5.00% 3/1/2031
|
26,635
|
20,754
|
|
|
Kilroy Realty, LP 2.50% 11/15/2032
|
2,724
|
2,053
|
|
|
Kilroy Realty, LP 2.65% 11/15/2033
|
7,563
|
5,609
|
|
|
Kilroy Realty, LP 6.25% 1/15/2036
|
17,671
|
17,273
|
|
|
Ladder Capital Finance Holdings LLLP 4.25% 2/1/20271
|
1,650
|
1,545
|
|
|
Ladder Capital Finance Holdings LLLP 4.75% 6/15/20291
|
21,884
|
19,913
|
|
|
MPT Operating Partnership, LP 5.25% 8/1/2026
|
7,000
|
6,415
|
|
|
MPT Operating Partnership, LP 5.00% 10/15/2027
|
8,343
|
6,996
|
|
|
MPT Operating Partnership, LP 3.50% 3/15/2031
|
24,520
|
16,858
|
|
|
Park Intermediate Holdings, LLC 5.875% 10/1/20281
|
9,000
|
8,827
|
|
|
Park Intermediate Holdings, LLC 4.875% 5/15/20291
|
11,160
|
10,387
|
|
|
Prologis, LP 4.75% 6/15/2033
|
3,870
|
3,794
|
|
American Funds Multi-Sector Income Fund — Page 23 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Real estate (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Prologis, LP 5.125% 1/15/2034
|
USD5,490
|
$5,516
|
|
|
Prologis, LP 5.00% 3/15/2034
|
12,135
|
12,069
|
|
|
Prologis, LP 5.25% 3/15/2054
|
2,320
|
2,280
|
|
|
Public Storage Operating Co. 1.95% 11/9/2028
|
417
|
368
|
|
|
Public Storage Operating Co. 2.25% 11/9/2031
|
8,155
|
6,775
|
|
|
Public Storage Operating Co. 5.35% 8/1/2053
|
8,552
|
8,598
|
|
|
Service Properties Trust 4.75% 10/1/2026
|
21,745
|
20,286
|
|
|
Service Properties Trust 4.95% 2/15/2027
|
6,535
|
6,050
|
|
|
Service Properties Trust 3.95% 1/15/2028
|
23,415
|
20,059
|
|
|
Service Properties Trust 4.95% 10/1/2029
|
17,525
|
14,368
|
|
|
Service Properties Trust 4.375% 2/15/2030
|
3,290
|
2,515
|
|
|
Service Properties Trust 8.625% 11/15/20311
|
12,100
|
12,917
|
|
|
Sun Communities Operating, LP 2.70% 7/15/2031
|
1,000
|
824
|
|
|
Sun Communities Operating, LP 4.20% 4/15/2032
|
14,413
|
12,961
|
|
|
VICI Properties, LP 4.625% 6/15/20251
|
766
|
755
|
|
|
VICI Properties, LP 4.75% 2/15/2028
|
876
|
855
|
|
|
VICI Properties, LP 3.875% 2/15/20291
|
708
|
652
|
|
|
VICI Properties, LP 4.95% 2/15/2030
|
14,510
|
14,043
|
|
|
VICI Properties, LP 4.125% 8/15/20301
|
192
|
175
|
|
|
VICI Properties, LP 5.125% 5/15/2032
|
6,694
|
6,409
|
|
|
VICI Properties, LP 5.625% 5/15/2052
|
1,537
|
1,426
|
|
|
Vornado Realty, LP 2.15% 6/1/2026
|
4,672
|
4,249
|
|
|
WeWork Companies, LLC 6.00% PIK and 5.00% Cash 8/15/20271,5,8
|
10,744
|
651
|
|
|
WeWork Companies, LLC 8.00% PIK and 7.00% Cash 8/15/20271,5,8
|
8,562
|
942
|
|
|
XHR, LP 4.875% 6/1/20291
|
2,120
|
1,964
|
|
|
|
|
|
536,958
|
|
Information technology 2.66%
|
|
|
|
|
Analog Devices, Inc. 2.95% 10/1/2051
|
3,709
|
2,518
|
|
|
Booz Allen Hamilton, Inc. 3.875% 9/1/20281
|
734
|
688
|
|
|
Booz Allen Hamilton, Inc. 4.00% 7/1/20291
|
586
|
545
|
|
|
Broadcom Corp. 3.875% 1/15/2027
|
53
|
51
|
|
|
Broadcom, Inc. 4.15% 11/15/2030
|
24
|
23
|
|
|
Broadcom, Inc. 4.15% 4/15/20321
|
7
|
6
|
|
|
Broadcom, Inc. 3.419% 4/15/20331
|
8,660
|
7,510
|
|
|
Broadcom, Inc. 3.469% 4/15/20341
|
18,602
|
15,947
|
|
|
CA Magnum Holdings 5.375% 10/31/20261
|
820
|
785
|
|
|
Cisco Systems, Inc. 4.85% 2/26/2029
|
19,614
|
19,768
|
|
|
Cisco Systems, Inc. 4.95% 2/26/2031
|
18,659
|
18,833
|
|
|
Cisco Systems, Inc. 5.05% 2/26/2034
|
33,365
|
33,830
|
|
|
Cisco Systems, Inc. 5.30% 2/26/2054
|
140
|
144
|
|
|
Cloud Software Group, Inc. 6.50% 3/31/20291
|
8,650
|
8,216
|
|
|
Cloud Software Group, Inc. 9.00% 9/30/20291
|
35,520
|
34,102
|
|
|
Cloud Software Group, Inc., Term Loan A,
(3-month USD CME Term SOFR + 4.50%) 9.909% 9/29/20283,4
|
23,741
|
23,677
|
|
|
Cloud Software Group, Inc., Term Loan B,
(3-month USD CME Term SOFR + 4.50%) 9.909% 3/30/20293,4
|
995
|
991
|
|
|
CommScope Technologies, LLC 6.00% 6/15/20251
|
14,577
|
12,696
|
|
|
CommScope, Inc. 6.00% 3/1/20261
|
6,855
|
6,281
|
|
|
CommScope, Inc. 8.25% 3/1/20271
|
5,781
|
2,712
|
|
|
CommScope, Inc. 7.125% 7/1/20281
|
3,603
|
1,428
|
|
|
CommScope, Inc. 4.75% 9/1/20291
|
7,000
|
5,058
|
|
|
CommScope, Inc., Term Loan B,
(3-month USD CME Term SOFR + 3.25%) 8.695% 4/6/20263,4
|
2,852
|
2,600
|
|
American Funds Multi-Sector Income Fund — Page 24 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Information technology (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Diebold Nixdorf, Inc., Term Loan,
(3-month USD CME Term SOFR + 7.50%) 12.82% 8/11/20281,3,4
|
USD16,087
|
$16,838
|
|
|
Finastra USA, Inc., Term Loan B,
(3-month USD CME Term SOFR + 7.25%) 12.459% 9/13/20293,4,7
|
16,510
|
16,593
|
|
|
Finastra USA, Inc., Term Loan,
(3-month USD CME Term SOFR + 7.25%) 12.571% 9/13/20293,4,7
|
317
|
319
|
|
|
Gartner, Inc. 4.50% 7/1/20281
|
3,270
|
3,119
|
|
|
Gartner, Inc. 3.625% 6/15/20291
|
5,330
|
4,831
|
|
|
Gartner, Inc. 3.75% 10/1/20301
|
7,790
|
6,981
|
|
|
Hughes Satellite Systems Corp. 6.625% 8/1/2026
|
1,441
|
850
|
|
|
Intel Corp. 5.15% 2/21/2034
|
10,105
|
10,132
|
|
|
Intel Corp. 5.60% 2/21/2054
|
7,798
|
7,951
|
|
|
Microchip Technology, Inc. 5.05% 3/15/2029
|
15,325
|
15,334
|
|
|
MicroStrategy, Inc. 6.125% 6/15/20281
|
1,190
|
1,149
|
|
|
NCR Atleos Corp. 9.50% 4/1/20291
|
23,329
|
24,977
|
|
|
Oracle Corp. 3.60% 4/1/2050
|
2,170
|
1,569
|
|
|
Oracle Corp. 5.55% 2/6/2053
|
9,532
|
9,331
|
|
|
ServiceNow, Inc. 1.40% 9/1/2030
|
8,917
|
7,219
|
|
|
Texas Instruments, Inc. 4.60% 2/8/2029
|
1,071
|
1,073
|
|
|
Texas Instruments, Inc. 4.85% 2/8/2034
|
9,732
|
9,783
|
|
|
UKG, Inc. 6.875% 2/1/20311
|
31,100
|
31,705
|
|
|
UKG, Inc., Term Loan, (3-month USD CME Term SOFR + 5.25%) 10.68% 5/3/20273,4
|
1,016
|
1,024
|
|
|
Unisys Corp. 6.875% 11/1/20271
|
535
|
476
|
|
|
Wolfspeed, Inc. 9.875% 6/23/2030 (10.875% on 6/23/2026)2,6,7
|
10,655
|
10,369
|
|
|
|
|
|
380,032
|
|
Total corporate bonds, notes & loans
|
|
|
9,809,586
|
|
Mortgage-backed obligations 9.78%
Commercial mortgage-backed securities 8.26%
|
|
|
|
|
3650R Commercial Mortgage Trust, Series 2022-PF2, Class B, 5.29% 11/15/20554,10
|
12,673
|
11,900
|
|
|
Arbor Multi Family Mortgage Securities Trust, Series 2020-MF1, Class B, 3.599% 5/15/20534,10
|
500
|
450
|
|
|
Banc of America Commercial Mortgage, Inc., Series 2016-UB10, Class C, 4.825% 7/15/20494,10
|
3,560
|
3,340
|
|
|
Banc of America Commercial Mortgage, Inc., Series 2017-BNK3, Class A4, 3.574% 2/15/205010
|
10
|
10
|
|
|
Bank Commercial Mortgage Trust, Series 2023-5YR2, Class AS, 7.14% 6/15/20284,10
|
9,699
|
10,324
|
|
|
Bank Commercial Mortgage Trust, Series 2023-5YR2, Class C, 7.164% 7/15/20284,10
|
5,948
|
5,929
|
|
|
Bank Commercial Mortgage Trust, Series 2022-BNK44, Class B, 5.745% 11/15/20324,10
|
8,333
|
8,193
|
|
|
Bank Commercial Mortgage Trust, Series 2022-BNK44, Class C, 5.745% 11/15/20324,10
|
7,500
|
6,930
|
|
|
Bank Commercial Mortgage Trust, Series 2019-BN23, Class C, 3.505% 12/15/20524,10
|
6,986
|
5,663
|
|
|
Bank Commercial Mortgage Trust, Series 2017-BNK9, Class A4, 3.538% 11/15/205410
|
10
|
9
|
|
|
Bank Commercial Mortgage Trust, Series 2022-BNK43, Class B, 5.152% 8/15/20554,10
|
5,250
|
4,805
|
|
|
Bank Commercial Mortgage Trust, Series 2023-BNK45, Class B, 6.148% 2/15/20564,10
|
5,618
|
5,752
|
|
|
Bank Commercial Mortgage Trust, Series 2023-BNK45, Class C, 6.279% 2/15/20564,10
|
1,535
|
1,537
|
|
|
Bank Commercial Mortgage Trust, Series 2023-5YR1, Class B, 6.411% 3/15/20564,10
|
13,148
|
12,939
|
|
|
Bank Commercial Mortgage Trust, Series 2023-BNK46, Class B, 6.774% 8/15/20564,10
|
7,654
|
8,271
|
|
|
Bank Commercial Mortgage Trust, Series 2023-BNK46, Class C, 6.774% 8/15/20564,10
|
6,801
|
7,002
|
|
|
Bank Commercial Mortgage Trust, Series 2023-5YR3, Class C, 7.315% 9/15/20564,10
|
7,043
|
7,112
|
|
|
Bank Commercial Mortgage Trust, Series 2023-5YR4, Class C, 7.534% 12/15/20564,10
|
7,419
|
7,878
|
|
|
Bank Commercial Mortgage Trust, Series 2023-5YR4, Class B, 7.534% 12/15/20564,10
|
6,574
|
7,079
|
|
|
Bank Commercial Mortgage Trust, Series 2017-BNK7, Class C, 4.01% 9/15/20604,10
|
2,522
|
2,092
|
|
|
Bank Commercial Mortgage Trust, Series 2019-BN19, Class B, 3.647% 8/15/206110
|
4,000
|
3,275
|
|
|
Bank Commercial Mortgage Trust, Series 2019-BN18, Class C, 4.212% 5/15/20624,10
|
2,000
|
1,509
|
|
|
Bank Commercial Mortgage Trust, Series 2019-BN20, Class B, 3.395% 9/15/20624,10
|
3,865
|
3,205
|
|
|
Bank Commercial Mortgage Trust, Series 2020-BN25, Class C, 3.353% 1/15/20634,10
|
6,257
|
5,088
|
|
American Funds Multi-Sector Income Fund — Page 25 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Mortgage-backed obligations (continued)
Commercial mortgage-backed securities (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Bank Commercial Mortgage Trust, Series 2020-BN26, Class C, 3.414% 3/15/20634,10
|
USD9,265
|
$7,394
|
|
|
Bank of America Merrill Lynch Large Loan, Inc., Series 2015-200P, Class B, 3.49% 4/14/20331,10
|
3,000
|
2,876
|
|
|
Bank of America Merrill Lynch Large Loan, Inc., Series 2015-200P, Class C, 3.596%
4/14/20331,4,10
|
2,000
|
1,911
|
|
|
Barclays Commercial Mortgage Securities, LLC, Series 2018-TALL, Class A,
((1-month USD CME Term SOFR + 0.047%) + 0.872%) 6.244% 3/15/20371,4,10
|
3,396
|
3,264
|
|
|
Barclays Commercial Mortgage Securities, LLC, Series 2022-C17, Class B, 4.889% 9/15/20554,10
|
11,003
|
10,271
|
|
|
Barclays Commercial Mortgage Securities, LLC, Series 2022-C18, Class C, 6.149% 12/15/20554,10
|
12,328
|
11,972
|
|
|
Barclays Commercial Mortgage Securities, LLC, Series 2023-C19, Class AS, 6.07% 4/15/20564,10
|
14,763
|
15,273
|
|
|
Barclays Commercial Mortgage Securities, LLC, Series 2023-C19, Class B, 6.333% 4/15/20564,10
|
1,954
|
2,007
|
|
|
Barclays Commercial Mortgage Securities, LLC, Series 2023-C19, Class C, 6.385% 4/15/20564,10
|
6,078
|
6,051
|
|
|
Barclays Commercial Mortgage Securities, LLC, Series 2023-C20, Class B, 6.167% 7/15/20564,10
|
19,000
|
19,614
|
|
|
Barclays Commercial Mortgage Securities, LLC, Series 2023-C20, Class C, 6.608% 7/15/20564,10
|
6,586
|
6,528
|
|
|
Barclays Commercial Mortgage Securities, LLC, Series 2023-C22, Class C, 7.126% 11/15/20564,10
|
2,283
|
2,430
|
|
|
Barclays Commercial Mortgage Securities, LLC, Series 2023-5C23, Class B, 7.455% 12/15/20564,10
|
9,755
|
10,343
|
|
|
Barclays Commercial Mortgage Securities, LLC, Series 2023-5C23, Class C, 7.455% 12/15/20564,10
|
3,395
|
3,547
|
|
|
Barclays Commercial Mortgage Securities, LLC, Series 2024-C24, Class C, 6.00% 2/15/205710
|
759
|
755
|
|
|
Benchmark Mortgage Trust, Series 2018-B2, Class A4, 3.615% 2/15/205110
|
25
|
24
|
|
|
Benchmark Mortgage Trust, Series 2018-B2, Class B, 4.285% 2/15/20514,10
|
3,000
|
2,648
|
|
|
Benchmark Mortgage Trust, Series 2018-B3, Class A5, 4.025% 4/10/205110
|
10
|
9
|
|
|
Benchmark Mortgage Trust, Series 2018-B3, Class B, 4.295% 4/10/20514,10
|
1,445
|
1,258
|
|
|
Benchmark Mortgage Trust, Series 2018-B4, Class A5, 4.121% 7/15/20514,10
|
10
|
10
|
|
|
Benchmark Mortgage Trust, Series 2021-B25, Class B, 2.635% 4/15/205410
|
5,500
|
4,201
|
|
|
Benchmark Mortgage Trust, Series 2021-B28, Class B, 2.244% 8/15/20544,10
|
7,500
|
5,830
|
|
|
Benchmark Mortgage Trust, Series 2022-B34, Class A5, 3.786% 4/15/20554,10
|
7,000
|
6,205
|
|
|
Benchmark Mortgage Trust, Series 2022-B35, Class C, 4.444% 5/15/20554,10
|
12,266
|
9,542
|
|
|
Benchmark Mortgage Trust, Series 2022-B35, Class B, 4.444% 5/15/20554,10
|
2,000
|
1,661
|
|
|
Benchmark Mortgage Trust, Series 2023-V2, Class B, 6.769% 5/15/20554,10
|
11,487
|
11,827
|
|
|
Benchmark Mortgage Trust, Series 2023-V2, Class C, 6.769% 5/15/20554,10
|
9,404
|
9,508
|
|
|
Benchmark Mortgage Trust, Series 2022-B36, Class B, 4.87% 7/15/20554,10
|
7,500
|
6,670
|
|
|
Benchmark Mortgage Trust, Series 2023-B38, Class AM, 6.121% 4/15/20564,10
|
22,618
|
23,605
|
|
|
Benchmark Mortgage Trust, Series 2023-B38, Class B, 6.245% 4/15/20564,10
|
10,487
|
10,634
|
|
|
Benchmark Mortgage Trust, Series 2023-B38, Class C, 6.245% 4/15/20564,10
|
6,492
|
5,706
|
|
|
Benchmark Mortgage Trust, Series 2023-V3, Class B, 6.924% 7/15/205610
|
6,493
|
6,695
|
|
|
Benchmark Mortgage Trust, Series 2023-V3, Class C, 7.173% 7/15/20564,10
|
8,813
|
8,963
|
|
|
Benchmark Mortgage Trust, Series 2023-V4, Class C, 7.46% 11/15/20564,10
|
7,698
|
7,944
|
|
|
Benchmark Mortgage Trust, Series 2023-V4, Class B, 7.46% 11/15/20564,10
|
5,821
|
6,190
|
|
|
Benchmark Mortgage Trust, Series 2023-B40, Class B, 6.581% 12/15/20564,10
|
7,144
|
7,547
|
|
|
Benchmark Mortgage Trust, Series 2024-V5, Class B, 6.059% 1/10/205710
|
1,802
|
1,808
|
|
|
Benchmark Mortgage Trust, Series 2024-V5, Class AM, 6.417% 1/10/205710
|
4,705
|
4,879
|
|
|
Benchmark Mortgage Trust, Series 2024-V5, Class C, 6.973% 1/10/20574,10
|
1,155
|
1,170
|
|
|
Benchmark Mortgage Trust, Series 2019-B13, Class A4, 2.952% 8/15/205710
|
20
|
18
|
|
|
BLP Commercial Mortgage Trust, Series 2024-IND2, Class D,
(1-month USD CME Term SOFR + 2.59%) 7.89% 3/15/20411,4,10
|
6,742
|
6,763
|
|
|
BMO Mortgage Trust, Series 2023-C4, Class B, 5.396% 2/15/20564,10
|
3,081
|
3,081
|
|
|
BMO Mortgage Trust, Series 2023-C5, Class B, 6.476% 6/15/20564,10
|
6,244
|
6,553
|
|
|
BMO Mortgage Trust, Series 2023-C5, Class C, 6.627% 6/15/20564,10
|
2,161
|
2,232
|
|
|
BMO Mortgage Trust, Series 2023-5C1, Class B, 6.96% 8/15/20564,10
|
10,516
|
10,764
|
|
|
BMO Mortgage Trust, Series 2023-5C1, Class C, 7.118% 8/15/20564,10
|
4,437
|
4,510
|
|
|
BMO Mortgage Trust, Series 2023-C6, Class B, 6.636% 9/15/20564,10
|
3,625
|
3,875
|
|
|
BMO Mortgage Trust, Series 2023-5C2, Class C, 7.244% 11/15/20564,10
|
2,982
|
3,092
|
|
|
BMO Mortgage Trust, Series 2023-C7, Class C, 7.123% 12/15/20564,10
|
2,790
|
2,931
|
|
|
BMO Mortgage Trust, Series 2024-5C3, Class D, 4.00% 2/15/20571,10
|
666
|
546
|
|
|
BMO Mortgage Trust, Series 2024-5C3, Class AS, 6.286% 2/15/20574,10
|
3,718
|
3,834
|
|
|
BMO Mortgage Trust, Series 2024-5C3, Class B, 6.557% 2/15/20574,10
|
2,453
|
2,516
|
|
American Funds Multi-Sector Income Fund — Page 26 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Mortgage-backed obligations (continued)
Commercial mortgage-backed securities (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
BMO Mortgage Trust, Series 2024-5C3, Class C, 6.859% 2/15/20574,10
|
USD531
|
$537
|
|
|
BOCA Commercial Mortgage Trust, Series 2022-BOCA, Class B,
(1-month USD CME Term SOFR + 2.319%) 7.644% 5/15/20391,4,10
|
2,694
|
2,707
|
|
|
BX Trust, Series 2022-CSMO, Class B, (1-month USD CME Term SOFR + 3.141%) 8.466% 6/15/20271,4,10
|
10,000
|
10,049
|
|
|
BX Trust, Series 2021-MFM1, Class B, (1-month USD CME Term SOFR + 1.064%) 6.39% 1/15/20341,4,10
|
3,065
|
3,040
|
|
|
BX Trust, Series 2021-SDMF, Class B, (1-month USD CME Term SOFR + 0.852%) 6.178% 9/15/20341,4,10
|
2,878
|
2,828
|
|
|
BX Trust, Series 2021-SDMF, Class C, (1-month USD CME Term SOFR + 1.002%) 6.328% 9/15/20341,4,10
|
2,014
|
1,976
|
|
|
BX Trust, Series 2021-SDMF, Class D, (1-month USD CME Term SOFR + 1.501%) 6.827% 9/15/20341,4,10
|
1,919
|
1,883
|
|
|
BX Trust, Series 2021-SDMF, Class E, (1-month USD CME Term SOFR + 1.701%) 7.027% 9/15/20341,4,10
|
1,390
|
1,360
|
|
|
BX Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 6.14% 9/15/20361,4,10
|
1,733
|
1,721
|
|
|
BX Trust, Series 2021-VOLT, Class B, (1-month USD CME Term SOFR + 1.064%) 6.39% 9/15/20361,4,10
|
2,696
|
2,668
|
|
|
BX Trust, Series 2021-VOLT, Class D, (1-month USD CME Term SOFR + 1.764%) 7.09% 9/15/20361,4,10
|
4,410
|
4,351
|
|
|
BX Trust, Series 2021-VOLT, Class E, (1-month USD CME Term SOFR + 2.114%) 7.44% 9/15/20361,4,10
|
7,510
|
7,413
|
|
|
BX Trust, Series 2021-ARIA, Class A, (1-month USD CME Term SOFR + 1.014%) 6.339% 10/15/20361,4,10
|
1,992
|
1,974
|
|
|
BX Trust, Series 2021-ARIA, Class B, (1-month USD CME Term SOFR + 1.411%) 6.737% 10/15/20361,4,10
|
10,749
|
10,613
|
|
|
BX Trust, Series 2021-ARIA, Class C, (1-month USD CME Term SOFR + 1.76%) 7.086% 10/15/20361,4,10
|
1,992
|
1,967
|
|
|
BX Trust, Series 2021-ARIA, Class D, (1-month USD CME Term SOFR + 2.01%) 7.335% 10/15/20361,4,10
|
2,810
|
2,758
|
|
|
BX Trust, Series 2022-IND, Class D, (1-month USD CME Term SOFR + 2.839%) 8.164% 4/15/20371,4,10
|
602
|
604
|
|
|
BX Trust, Series 2021-SOAR, Class B, (1-month USD CME Term SOFR + 0.984%) 6.31% 6/15/20381,4,10
|
721
|
715
|
|
|
BX Trust, Series 2021-SOAR, Class C, (1-month USD CME Term SOFR + 1.214%) 6.54% 6/15/20381,4,10
|
651
|
644
|
|
|
BX Trust, Series 2021-SOAR, Class D, (1-month USD CME Term SOFR + 1.514%) 6.84% 6/15/20381,4,10
|
8,235
|
8,154
|
|
|
BX Trust, Series 2021-ACNT, Class B, (1-month USD CME Term SOFR + 1.364%) 6.69% 11/15/20381,4,10
|
12,004
|
11,956
|
|
|
BX Trust, Series 2021-ACNT, Class C, (1-month USD CME Term SOFR + 1.614%) 6.94% 11/15/20381,4,10
|
1,932
|
1,920
|
|
|
BX Trust, Series 2021-ACNT, Class D, (1-month USD CME Term SOFR + 1.964%) 7.29% 11/15/20381,4,10
|
2,937
|
2,907
|
|
|
BX Trust, Series 2021-ACNT, Class E, (1-month USD CME Term SOFR + 2.311%) 7.637% 11/15/20381,4,10
|
1,433
|
1,420
|
|
|
BX Trust, Series 2022-AHP, Class B, (1-month USD CME Term SOFR + 1.84%) 7.165% 2/15/20391,4,10
|
3,000
|
2,963
|
|
|
BX Trust, Series 2022-LP2, Class D, (1-month USD CME Term SOFR + 1.961%) 7.286% 2/15/20391,4,10
|
2,415
|
2,386
|
|
|
BX Trust, Series 2022-AHP, Class C, (1-month USD CME Term SOFR + 2.09%) 7.415% 2/15/20391,4,10
|
4,000
|
3,912
|
|
|
BX Trust, Series 2022-PSB, Class B, (1-month USD CME Term SOFR + 2.949%) 8.274% 8/15/20391,4,10
|
9,762
|
9,847
|
|
|
BX Trust, Series 2022-PSB, Class C, (1-month USD CME Term SOFR + 3.697%) 9.022% 8/15/20391,4,10
|
8,471
|
8,545
|
|
|
BX Trust, Series 2022-PSB, Class D, (1-month USD CME Term SOFR + 4.693%) 10.018% 8/15/20391,4,10
|
8,333
|
8,393
|
|
|
BX Trust, Series 2022-GPA, Class B, (1-month USD CME Term SOFR + 2.664%) 7.985% 10/15/20391,4,10
|
7,798
|
7,832
|
|
|
BX Trust, Series 2022-GPA, Class C, (1-month USD CME Term SOFR + 3.213%) 8.535% 10/15/20391,4,10
|
14,753
|
14,823
|
|
|
BX Trust, Series 2022-GPA, Class D, (1-month USD CME Term SOFR + 4.061%) 9.385% 10/15/20391,4,10
|
1,841
|
1,850
|
|
|
BX Trust, Series 2023-VLT2, Class C, (1-month USD CME Term SOFR + 4.176%) 9.501% 6/15/20401,4,10
|
15,000
|
15,094
|
|
|
BX Trust, Series 2023-VLT2, Class D, (1-month USD CME Term SOFR + 4.774%) 10.099%
6/15/20401,4,10
|
26,000
|
26,102
|
|
|
BX Trust, Series 2019-OC11, Class C, 3.856% 12/9/20411,10
|
1,090
|
970
|
|
|
BX Trust, Series 2019-OC11, Class D, 3.944% 12/9/20411,4,10
|
2,326
|
2,056
|
|
|
BX Trust, Series 2020-VIV2, Class C, 3.542% 3/9/20441,4,10
|
5,150
|
4,482
|
|
|
BX Trust, Series 2020-VIV3, Class B, 3.544% 3/9/20441,4,10
|
4,948
|
4,361
|
|
|
BXSC Commercial Mortgage Trust, Series 2022-WSS, Class B,
(1-month USD CME Term SOFR + 2.092%) 7.417% 3/15/20351,4,10
|
13,740
|
13,675
|
|
|
BXSC Commercial Mortgage Trust, Series 2022-WSS, Class D,
(1-month USD CME Term SOFR + 3.188%) 8.513% 3/15/20351,4,10
|
2,485
|
2,472
|
|
|
CD Commercial Mortgage Trust, Series 2017-CD6, Class A5, 3.456% 11/13/205010
|
10
|
9
|
|
|
CENT Trust 2023-CITY, Series 2023-CITY, Class B,
(1-month USD CME Term SOFR + 3.15%) 8.475% 9/15/20281,4,10
|
11,978
|
12,100
|
|
|
Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class D, 5.852% 6/10/20281,4,10
|
28,218
|
26,921
|
|
|
Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class C, 5.852% 6/10/20281,4,10
|
2,450
|
2,423
|
|
|
Citigroup Commercial Mortgage Trust, Series 2023-PRM3, Class D, 6.36% 7/10/20281,4,10
|
13,008
|
12,670
|
|
|
Citigroup Commercial Mortgage Trust, Series 2014-GC21, Class AS, 4.026% 5/10/204710
|
420
|
417
|
|
|
Citigroup Commercial Mortgage Trust, Series 2014-GC21, Class B, 4.328% 5/10/20474,10
|
1,900
|
1,778
|
|
|
Citigroup Commercial Mortgage Trust, Series 2014-GC25, Class AS, 4.017% 10/10/204710
|
438
|
431
|
|
|
Citigroup Commercial Mortgage Trust, Series 2014-GC25, Class B, 4.345% 10/10/20474,10
|
3,964
|
3,825
|
|
American Funds Multi-Sector Income Fund — Page 27 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Mortgage-backed obligations (continued)
Commercial mortgage-backed securities (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class B, 3.772% 2/10/204810
|
USD7,892
|
$7,673
|
|
|
Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class C, 4.419% 2/10/20484,10
|
3,656
|
3,487
|
|
|
Citigroup Commercial Mortgage Trust, Series 2015-GC29, Class C, 4.137% 4/10/20484,10
|
2,660
|
2,475
|
|
|
Citigroup Commercial Mortgage Trust, Series 2020-GC46, Class B, 3.15% 2/15/20534,10
|
1,835
|
1,449
|
|
|
Citigroup Commercial Mortgage Trust, Series 2015-GC33, Class A3, 3.515% 9/10/205810
|
290
|
283
|
|
|
COMM Mortgage Trust, Series 2020-CX, Class D, 2.684% 11/10/20461,4,10
|
6,000
|
4,681
|
|
|
Commercial Mortgage Trust, Series 2014-UBS4, Class B, 4.701% 3/10/204710
|
278
|
265
|
|
|
Commercial Mortgage Trust, Series 2014-CR16, Class C, 4.899% 4/10/20474,10
|
460
|
430
|
|
|
Commercial Mortgage Trust, Series 2014-CR18, Class B, 4.456% 7/15/20474,10
|
381
|
375
|
|
|
Commercial Mortgage Trust, Series 2014-UBS4, Class AM, 3.968% 8/10/204710
|
108
|
100
|
|
|
Commercial Mortgage Trust, Series 2014-CR19, Class AM, 4.08% 8/10/204710
|
500
|
493
|
|
|
Commercial Mortgage Trust, Series 2014-LC17, Class B, 4.49% 10/10/20474,10
|
950
|
926
|
|
|
Commercial Mortgage Trust, Series 2014-UBS6, Class C, 4.427% 12/10/20474,10
|
605
|
541
|
|
|
Commercial Mortgage Trust, Series 2015-CR26, Class B, 4.464% 10/10/20484,10
|
8,035
|
7,663
|
|
|
Commercial Mortgage Trust, Series 2015-CCRE-26, Class C, 4.464% 10/10/20484,10
|
860
|
805
|
|
|
Commercial Mortgage Trust, Series 2016-COR1, Class A4, 3.091% 10/10/204910
|
25
|
23
|
|
|
Commercial Mortgage Trust, Series 2015-PC1, Class AM, 4.29% 7/10/20504,10
|
250
|
244
|
|
|
DATA 2023-CNTR Mortgage Trust, Series 2023-CNTR, Class C, 5.728% 8/12/20431,4,10
|
2,000
|
1,829
|
|
|
DATA 2023-CNTR Mortgage Trust, Series 2023-CNTR, Class D, 5.728% 8/12/20431,4,10
|
19,597
|
17,047
|
|
|
DC Commercial Mortgage Trust, Series 2023-DC, Class D, 7.14% 9/10/20401,4,10
|
22,681
|
22,365
|
|
|
DC Commercial Mortgage Trust, Series 2023-DC, Class C, 7.14% 9/10/20401,4,10
|
4,080
|
4,171
|
|
|
Extended Stay America Trust, Series 2021-ESH, Class B,
(1-month USD CME Term SOFR + 1.494%) 6.82% 7/15/20381,4,10
|
350
|
350
|
|
|
Extended Stay America Trust, Series 2021-ESH, Class C,
(1-month USD CME Term SOFR + 1.814%) 7.14% 7/15/20381,4,10
|
2,195
|
2,195
|
|
|
Extended Stay America Trust, Series 2021-ESH, Class D,
(1-month USD CME Term SOFR + 2.364%) 7.69% 7/15/20381,4,10
|
7,955
|
7,955
|
|
|
FIVE Mortgage Trust, Series 2023-V1, Class B, 6.297% 2/10/20564,10
|
7,432
|
7,476
|
|
|
FIVE Mortgage Trust, Series 2023-V1, Class C, 6.297% 2/10/20564,10
|
2,917
|
2,906
|
|
|
Fontainebleau Miami Beach Trust, CMO, Series 2019-FBLU, Class C, 3.75% 12/10/20361,10
|
500
|
488
|
|
|
Fontainebleau Miami Beach Trust, CMO, Series 2019-FBLU, Class D, 3.963% 12/10/20361,4,10
|
5,455
|
5,322
|
|
|
FS Commercial Trust, Series 2023-4SZN, Class C, 8.121% 11/10/20391,4,10
|
9,193
|
9,613
|
|
|
Great Wolf Trust, Series 2019-WOLF, Class A, (1-month USD CME Term SOFR + 1.348%)
6.474% 12/15/20361,4,10
|
2,148
|
2,148
|
|
|
Great Wolf Trust, Series 2019-WOLF, Class D, (1-month USD CME Term SOFR + 2.247%)
7.373% 12/15/20361,4,10
|
931
|
930
|
|
|
Great Wolf Trust, Series 2024-WOLF, Class C, (1-month USD CME Term SOFR + 2.391%)
7.691% 3/15/20391,4,10
|
9,249
|
9,283
|
|
|
Great Wolf Trust, Series 2024-WOLF, Class D, (1-month USD CME Term SOFR + 2.89%) 8.19%
3/15/20391,4,10
|
7,434
|
7,467
|
|
|
GS Mortgage Securities Trust, Series 2024-70P, Class B, 5.507% 3/10/20411,4,10
|
7,337
|
7,286
|
|
|
GS Mortgage Securities Trust, Series 2024-70P, Class C, 5.881% 3/10/20411,4,10
|
9,423
|
9,354
|
|
|
GS Mortgage Securities Trust, Series 2024-70P, Class D, 7.045% 3/10/20411,4,10
|
13,520
|
13,475
|
|
|
GS Mortgage Securities Trust, Series 2020-GS1, Class A2, 3.47% 11/10/204810
|
200
|
193
|
|
|
GS Mortgage Securities Trust, Series 2018-GS10, Class AS, 4.384% 7/10/20514,10
|
4,000
|
3,636
|
|
|
GS Mortgage Securities Trust, Series 2019-GC40, Class C, 3.946% 7/10/205210
|
3,364
|
2,689
|
|
|
Hawaii Hotel Trust, Series 2019-MAUI, Class E, (1-month USD CME Term SOFR + 2.207%)
7.532% 5/15/20381,4,10
|
4,000
|
3,966
|
|
|
Hilton USA Trust, Series 2016-HHV, Class D, 4.194% 11/5/20381,10
|
1,230
|
1,160
|
|
|
INTOWN Mortgage Trust, Series 2022-STAY, Class B,
(1-month USD CME Term SOFR + 3.286%) 8.612% 8/15/20371,4,10
|
7,882
|
7,944
|
|
|
INTOWN Mortgage Trust, Series 2022-STAY, Class C,
(1-month USD CME Term SOFR + 3.685%) 9.011% 8/15/20371,4,10
|
3,120
|
3,145
|
|
|
JPMBB Commercial Mortgage Securities Trust, Series 2014-C19, Class B, 4.394% 4/15/20474,10
|
920
|
913
|
|
|
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.377%
1/5/20391,10
|
1,750
|
1,486
|
|
|
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.45%
1/5/20391,4,10
|
437
|
354
|
|
|
LSTAR Commercial Mortgage Trust, Series 2017-5, Class C, 4.668% 3/10/20501,4,10
|
1,725
|
1,469
|
|
|
LUXE Commercial Mortgage Trust, Series 2021-TRIP, Class B,
(1-month USD CME Term SOFR + 1.514%) 6.84% 10/15/20381,4,10
|
795
|
795
|
|
American Funds Multi-Sector Income Fund — Page 28 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Mortgage-backed obligations (continued)
Commercial mortgage-backed securities (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
LUXE Commercial Mortgage Trust, Series 21-TRIP, Class C,
(1-month USD CME Term SOFR + 1.864%) 7.19% 10/15/20381,4,10
|
USD5,000
|
$4,999
|
|
|
MHC Commercial Mortgage Trust, CMO, Series 2021-MHC, Class A,
(1-month USD CME Term SOFR + 0.915%) 6.241% 4/15/20381,4,10
|
1,287
|
1,282
|
|
|
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C18, Class AS, 4.11%
10/15/20474,10
|
1,189
|
1,170
|
|
|
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C20, Class B, 4.16%
2/15/204810
|
18,113
|
17,492
|
|
|
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class AS, 3.561%
4/15/204810
|
2,311
|
2,238
|
|
|
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C24, Class AS, 4.036%
5/15/20484,10
|
3,586
|
3,393
|
|
|
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C25, Class B, 4.518%
10/15/20484,10
|
74
|
69
|
|
|
Morgan Stanley Capital I Trust, Series 2017-H1, Class A5, 3.53% 6/15/205010
|
45
|
42
|
|
|
Morgan Stanley Capital I Trust, Series 2019-L3, Class B, 3.65% 11/15/20524,10
|
5,300
|
4,534
|
|
|
MSFW Commercial Mortgage Trust, Series 2023-1, Class B, 6.683% 5/15/20334,10
|
4,566
|
4,774
|
|
|
MSFW Commercial Mortgage Trust, Series 2023-1, Class C, 6.683% 5/15/20334,10
|
4,606
|
4,548
|
|
|
MSWF Commercial Mortgage Trust, Series 2023-2, Class B, 6.876% 12/15/20564,10
|
13,301
|
14,367
|
|
|
MSWF Commercial Mortgage Trust, Series 2023-2, Class C, 7.018% 12/15/20564,10
|
2,549
|
2,665
|
|
|
Multifamily Connecticut Avenue Securities, Series 2019-1, Class M10,
(30-day Average USD-SOFR + 3.364%) 8.685% 10/15/20491,4,10
|
1,299
|
1,282
|
|
|
Multifamily Connecticut Avenue Securities, Series 2020-1, Class M10,
(30-day Average USD-SOFR + 3.864%) 9.185% 3/25/20501,4,10
|
8,814
|
8,742
|
|
|
Multifamily Connecticut Avenue Securities, Series 2023-01, Class M7,
(30-day Average USD-SOFR + 4.00%) 9.32% 11/25/20531,4,10
|
9,300
|
9,507
|
|
|
Multifamily Connecticut Avenue Securities, Series 2023-01, Class M10,
(30-day Average USD-SOFR + 6.50%) 11.82% 11/25/20531,4,10
|
24,745
|
26,225
|
|
|
Multifamily Structured Credit Risk, Series 21-MN1, Class M2,
(30-day Average USD-SOFR + 3.75%) 9.07% 1/25/20511,4,10
|
2,730
|
2,683
|
|
|
Multifamily Structured Credit Risk, Series 21-MN3, Class M2, 9.32% 11/25/20511,4,10
|
3,500
|
3,453
|
|
|
One Market Plaza Trust, Series 2017-1MKT, Class A, 3.614% 2/10/20321,10
|
3,558
|
3,289
|
|
|
One Market Plaza Trust, Series 2017-1MKT, Class C, 4.016% 2/10/20321,10
|
3,000
|
2,679
|
|
|
ORL Trust, Series 2023-GLKS, Class C, (1-month USD CME Term SOFR + 3.651%) 8.976%
10/19/20361,4,10
|
10,811
|
10,879
|
|
|
ORL Trust, Series 2023-GLKS, Class D, (1-month USD CME Term SOFR + 4.301%) 9.626%
10/19/20361,4,10
|
18,716
|
18,849
|
|
|
SFO Commerical Mortgage Trust, Series 2021-555, Class A, (1-month USD CME Term SOFR
+ 1.264%)
6.59% 5/15/2038 (1-month USD CME Term SOFR + 1.514% on 5/15/2026)1,2,10
|
2,350
|
2,290
|
|
|
SFO Commerical Mortgage Trust, Series 2021-555, Class B,
(1-month USD CME Term SOFR + 1.614%) 6.94% 5/15/20381,4,10
|
1,834
|
1,747
|
|
|
SFO Commercial Mortgage Trust, Series 2021-555, Class C,
(1-month USD CME Term SOFR + 1.914%) 7.24% 5/15/20381,4,10
|
3,000
|
2,815
|
|
|
SREIT Trust, Series 2021-FLWR, Class A, (1-month USD CME Term SOFR + 0.691%) 6.016%
7/15/20361,4,10
|
1,558
|
1,543
|
|
|
SREIT Trust, Series 2021-FLWR, Class B, (1-month USD CME Term SOFR + 1.04%) 6.366%
7/15/20361,4,10
|
8,000
|
7,919
|
|
|
SREIT Trust, Series 2021-MFP, Class A, (1-month USD CME Term SOFR + 0.845%) 6.171%
11/15/20381,4,10
|
1,380
|
1,371
|
|
|
SREIT Trust, Series 2021-MFP, Class B, (1-month USD CME Term SOFR + 1.194%) 6.52%
11/15/20381,4,10
|
1,478
|
1,469
|
|
|
SREIT Trust, Series 2021-MFP, Class C, (1-month USD CME Term SOFR + 1.443%) 6.769%
11/15/20381,4,10
|
1,987
|
1,975
|
|
|
SREIT Trust, Series 2021-MFP, Class D, (1-month USD CME Term SOFR + 1.693%) 7.018%
11/15/20381,4,10
|
2,392
|
2,376
|
|
|
StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class D,
(1-month USD CME Term SOFR + 1.95%) 7.275% 1/15/20391,4,10
|
9,500
|
9,348
|
|
|
StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class E,
(1-month USD CME Term SOFR + 2.70%) 8.025% 1/15/20391,4,10
|
10,693
|
10,385
|
|
|
UBS Commercial Mortgage Trust, Series 2017-C3, Class C, 4.386% 8/15/20504,10
|
3,165
|
2,899
|
|
|
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS1, Class C, 3.848% 5/15/20484,10
|
1,000
|
926
|
|
|
Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class AS, 3.872% 5/15/20484,10
|
3,115
|
3,015
|
|
|
Wells Fargo Commercial Mortgage Trust, Series 2015-C29, Class AS, 4.013% 6/15/20484,10
|
7,439
|
7,217
|
|
|
Wells Fargo Commercial Mortgage Trust, Series 2016-C35, Class C, 4.176% 7/15/20484,10
|
6,363
|
5,933
|
|
|
Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class A4, 3.096% 6/15/204910
|
25
|
24
|
|
|
Wells Fargo Commercial Mortgage Trust, Series 2017-C40, Class C, 4.302% 10/15/20504,10
|
5,079
|
4,519
|
|
|
Wells Fargo Commercial Mortgage Trust, Series 2018-C46, Class B, 4.633% 8/15/205110
|
2,903
|
2,627
|
|
American Funds Multi-Sector Income Fund — Page 29 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Mortgage-backed obligations (continued)
Commercial mortgage-backed securities (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Wells Fargo Commercial Mortgage Trust, Series 2019-C54, Class C, 3.81% 12/15/205210
|
USD2,000
|
$1,682
|
|
|
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS3, Class D, 3.153% 9/15/20571,10
|
3,561
|
3,313
|
|
|
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS3, Class B, 4.496% 9/17/20574,10
|
4,100
|
3,968
|
|
|
Wells Fargo Commercial Mortgage Trust, Series 2015-LC22, Class B, 4.54% 9/15/20584,10
|
6,750
|
6,526
|
|
|
Wells Fargo Commercial Mortgage Trust, Series 2015-LC22, Class C, 4.54% 9/15/20584,10
|
110
|
105
|
|
|
Wells Fargo Commercial Mortgage Trust, Series 2016-NXS5, Class B, 4.944% 1/15/20594,10
|
5,760
|
5,417
|
|
|
WF-RBS Commercial Mortgage Trust, Series 2014-C22, Class AS, 4.069% 9/15/20574,10
|
3,560
|
3,249
|
|
|
WMRK Commercial Mortgage Trust, Series 2022-WMRK, Class A,
(1-month USD CME Term SOFR + 2.789%) 8.114% 11/15/20271,4,10
|
15,228
|
15,318
|
|
|
WSTN Trust, Series 2023-MAUI, Class B, 7.018% 7/5/20371,4,10
|
10,388
|
10,385
|
|
|
WSTN Trust, Series 2023-MAUI, Class C, 7.69% 7/5/20371,4,10
|
4,602
|
4,539
|
|
|
WSTN Trust, Series 2023-MAUI, Class D, 8.455% 7/5/20371,4,10
|
8,993
|
8,938
|
|
|
|
|
|
1,180,601
|
|
Collateralized mortgage-backed obligations (privately originated) 1.52%
|
|
|
|
|
BINOM Securitization Trust, Series 2022-RPL1, Class A1, 3.00% 2/25/20611,4,10
|
983
|
894
|
|
|
BRAVO Residential Funding Trust, Series 2020-RPL2, Class A1, 2.00% 5/25/20591,4,10
|
161
|
147
|
|
|
BRAVO Residential Funding Trust, Series 2022-RPL1, Class A1, 2.75% 9/25/20611,10
|
1,470
|
1,327
|
|
|
BRAVO Residential Funding Trust, Series 2022-R1, Class A, 3.125% 1/29/2070 (6.125%
on 1/29/2025)1,2,10
|
10,955
|
10,309
|
|
|
Cascade Funding Mortgage Trust, Series 2021-HB7, Class A, 1.151% 10/27/20311,4,10
|
469
|
458
|
|
|
Cascade Funding Mortgage Trust, Series 2021-HB7, Class M1, 2.125% 10/27/20311,4,10
|
1,296
|
1,240
|
|
|
Cascade Funding Mortgage Trust, Series 2023-HB12, Class M1, 4.25% 4/25/20331,4,10
|
6,729
|
6,378
|
|
|
Cascade Funding Mortgage Trust, Series 2023-HB12, Class A, 4.25% 4/25/20331,4,10
|
1,737
|
1,702
|
|
|
Cascade Funding Mortgage Trust, Series 2018-RM2, Class B, 4.00% 10/25/20681,4,10
|
1,049
|
971
|
|
|
Cascade Funding Mortgage Trust, Series 2018-RM2, Class C, 4.00% 10/25/20681,4,10
|
771
|
683
|
|
|
Cascade Funding Mortgage Trust, Series 2018-RM2, Class D, 4.00% 10/25/20681,4,10
|
771
|
668
|
|
|
Cascade Funding Mortgage Trust, Series 2018-RM2, Class A, 4.00% 10/25/20681,4,10
|
631
|
624
|
|
|
Cascade MH Asset Trust, Series 2022-MH1, Class A, 4.25% 8/25/2054 (5.25% on 11/25/2027)1,2,10
|
14,794
|
13,457
|
|
|
CFCRE Commercial Mortgage Trust, Series 2016-C7, Class A2, 3.585% 12/10/205410
|
176
|
167
|
|
|
Credit Suisse Mortgage Trust, Series 2020-NET, Class A, 2.257% 8/15/20371,10
|
107
|
99
|
|
|
Credit Suisse Mortgage Trust, Series 2020-NET, Class B, 2.816% 8/15/20371,10
|
2,200
|
2,045
|
|
|
FARM Mortgage Trust, Series 2024-1, Class B, 5.122% 10/1/20531,4,10
|
5,096
|
4,141
|
|
|
Flagstar Mortgage Trust, Series 2021-10INV, Class A3, 2.50% 10/25/20511,4,10
|
123
|
100
|
|
|
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA4, Class M1B,
(30-day Average USD-SOFR + 3.35%) 8.67% 5/25/20421,4,10
|
1,400
|
1,465
|
|
|
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A,
(30-day Average USD-SOFR + 2.15%) 7.47% 9/25/20421,4,10
|
415
|
420
|
|
|
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1B,
(30-day Average USD-SOFR + 3.70%) 9.02% 9/25/20421,4,10
|
1,460
|
1,550
|
|
|
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2019-DNA3, Class B2,
(30-day Average USD-SOFR + 8.264%) 13.585% 7/25/20491,4,10
|
6,325
|
7,304
|
|
|
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA2, Class B2,
(30-day Average USD-SOFR + 4.914%) 10.235% 2/25/20501,4,10
|
10,867
|
11,686
|
|
|
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA3, Class B2,
(30-day Average USD-SOFR + 9.464%) 14.785% 6/25/20501,4,10
|
11,960
|
15,652
|
|
|
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA3, Class B2,
(30-day Average USD-SOFR + 10.114%) 15.435% 7/25/20501,4,10
|
4,000
|
5,324
|
|
|
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA4, Class B1,
(30-day Average USD-SOFR + 6.114%) 11.435% 8/25/20501,4,10
|
7,184
|
8,137
|
|
|
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA4, Class B2,
(30-day Average USD-SOFR + 10.114%) 15.435% 8/25/20501,4,10
|
23,335
|
31,470
|
|
|
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA5, Class B1,
(30-day Average USD-SOFR + 4.80%) 10.129% 10/25/20501,4,10
|
5,030
|
5,656
|
|
American Funds Multi-Sector Income Fund — Page 30 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Mortgage-backed obligations (continued)
Collateralized mortgage-backed obligations (privately originated) (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA5, Class B2,
(30-day Average USD-SOFR + 11.50%) 16.829% 10/25/20501,4,10
|
USD9,173
|
$12,389
|
|
|
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA6, Class B2,
(30-day Average USD-SOFR + 5.65%) 10.97% 12/25/20501,4,10
|
1,575
|
1,733
|
|
|
Hundred Acre Wood Trust, Series 2021-INV1, Class A9, 2.50% 7/25/20511,4,10
|
2,312
|
2,028
|
|
|
JP Morgan Mortgage Trust, Series 2024-CES1, Class A3, 6.712% 6/25/2054 (7.397% on
3/1/2028)1,4,10
|
2,010
|
2,018
|
|
|
JP Morgan Mortgage Trust, Series 2024-CES1, Class M1, 6.91% 6/25/2054 (7.596% on 3/1/2028)1,4,10
|
1,628
|
1,634
|
|
|
Legacy Mortgage Asset Trust, Series 2020-GS4, Class A1, 6.25% 2/25/2060 (7.25% on
5/28/2024)1,2,10
|
191
|
192
|
|
|
Legacy Mortgage Asset Trust, Series 2020-GS3, Class A1, 3.25% 5/25/2060 (7.25% on
4/25/2024)1,2,10
|
1,353
|
1,359
|
|
|
Legacy Mortgage Asset Trust, Series 2022-GS1, Class A1, 4.00% 2/25/2061 (7.00% on
4/25/2025)1,2,10
|
10,199
|
9,911
|
|
|
Legacy Mortgage Asset Trust, Series 2021-GS2, Class A1, 1.75% 4/25/20611,4,10
|
733
|
712
|
|
|
Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 2.25% 7/25/2067 (5.25% on
11/25/2024)1,2,10
|
2,262
|
2,190
|
|
|
New Residential Mortgage Loan Trust, Series 2018-1A, Class A1A, 4.00% 12/25/20571,4,10
|
38
|
36
|
|
|
New Residential Mortgage Loan Trust, Series 2019-2A, Class A1, 4.25% 12/25/20571,4,10
|
107
|
102
|
|
|
New Residential Mortgage Loan Trust, Series 2018-5A, Class A1, 4.75% 12/25/20571,4,10
|
81
|
79
|
|
|
Progress Residential Trust, Series 2020-SFR2, Class A, 2.078% 6/18/20371,10
|
100
|
96
|
|
|
Progress Residential Trust, Series 2024-SFR1, Class E1, 3.85% 2/17/20411,10
|
5,658
|
5,025
|
|
|
Progress Residential Trust, Series 2024-SFR1, Class E2, 3.85% 2/17/20411,10
|
2,789
|
2,411
|
|
|
Progress Residential Trust, Series 2024-SFR2, Class E1, 3.40% 4/17/20411,4,10
|
3,064
|
2,628
|
|
|
Progress Residential Trust, Series 2024-SFR2, Class E2, 3.65% 4/17/20411,4,10
|
2,568
|
2,191
|
|
|
Reverse Mortgage Investment Trust, Series 2021-HB1, Class A, 1.259% 11/25/20311,4,10
|
227
|
221
|
|
|
Towd Point Mortgage Trust, Series 2017-2, Class B2, 4.235% 4/25/20571,4,10
|
2,400
|
2,172
|
|
|
Towd Point Mortgage Trust, Series 2018-1, Class A2, 3.25% 1/25/20581,4,10
|
2,477
|
2,340
|
|
|
Towd Point Mortgage Trust, Series 2019-4, Class M1B, 3.00% 10/25/20591,4,10
|
3,000
|
2,491
|
|
|
Treehouse Park Improvement Association No.1 9.75% 12/1/20331,6
|
22,184
|
20,611
|
|
|
Tricon Residential Trust, Series 2023-SFR1, Class C, 5.10% 7/17/20401,10
|
904
|
880
|
|
|
Tricon Residential Trust, Series 2023-SFR1, Class E, 7.977% 7/17/20401,10
|
1,087
|
1,110
|
|
|
VM Fund I, LLC 8.625% 1/15/20281,6
|
6,661
|
6,561
|
|
|
|
|
|
217,194
|
|
Total mortgage-backed obligations
|
|
|
1,397,795
|
|
Bonds & notes of governments & government agencies outside the U.S. 8.17%
|
|
|
|
|
Abu Dhabi (Emirate of) 2.50% 9/30/20291
|
15,000
|
13,475
|
|
|
Abu Dhabi (Emirate of) 1.70% 3/2/20311
|
12,800
|
10,637
|
|
|
Abu Dhabi (Emirate of) 3.125% 9/30/2049
|
18,300
|
12,897
|
|
|
Abu Dhabi (Emirate of) 3.875% 4/16/2050
|
22,300
|
17,880
|
|
|
Albania (Republic of) 5.90% 6/9/2028
|
EUR4,300
|
4,776
|
|
|
Angola (Republic of) 8.25% 5/9/2028
|
USD2,500
|
2,414
|
|
|
Angola (Republic of) 8.00% 11/26/2029
|
25,240
|
23,569
|
|
|
Angola (Republic of) 8.75% 4/14/2032
|
24,100
|
22,213
|
|
|
Argentine Republic 1.00% 7/9/2029
|
5,233
|
2,827
|
|
|
Argentine Republic 0.75% 7/9/2030 (1.75% on 7/9/2027)2
|
40,175
|
21,144
|
|
|
Argentine Republic 3.625% 7/9/2035 (4.125% on 7/9/2024)2
|
67,216
|
28,035
|
|
|
Brazil (Federative Republic of) 4.75% 1/14/2050
|
12,300
|
9,250
|
|
|
Chile (Republic of) 3.10% 5/7/2041
|
10,835
|
8,045
|
|
|
Colombia (Republic of) 4.50% 3/15/2029
|
300
|
277
|
|
|
Colombia (Republic of) 3.00% 1/30/2030
|
5,111
|
4,252
|
|
|
Colombia (Republic of) 3.25% 4/22/2032
|
10,720
|
8,374
|
|
|
Colombia (Republic of) 8.00% 4/20/2033
|
16,970
|
17,945
|
|
|
Colombia (Republic of) 7.50% 2/2/2034
|
10,925
|
11,192
|
|
|
Colombia (Republic of) 8.00% 11/14/2035
|
4,650
|
4,893
|
|
|
Colombia (Republic of) 7.375% 9/18/2037
|
300
|
300
|
|
|
Colombia (Republic of) 5.625% 2/26/2044
|
902
|
718
|
|
American Funds Multi-Sector Income Fund — Page 31 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Bonds & notes of governments & government agencies outside the U.S. (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Colombia (Republic of) 5.00% 6/15/2045
|
USD11,144
|
$8,113
|
|
|
Colombia (Republic of) 5.20% 5/15/2049
|
200
|
147
|
|
|
Colombia (Republic of) 4.125% 5/15/2051
|
400
|
249
|
|
|
Costa Rica (Republic of) 6.125% 2/19/2031
|
4,228
|
4,292
|
|
|
Costa Rica (Republic of) 6.125% 2/19/20311
|
1,700
|
1,726
|
|
|
Costa Rica (Republic of) 7.00% 4/4/2044
|
1,200
|
1,246
|
|
|
Dominican Republic 5.50% 1/27/2025
|
1,400
|
1,393
|
|
|
Dominican Republic 6.875% 1/29/2026
|
1,000
|
1,011
|
|
|
Dominican Republic 5.95% 1/25/2027
|
1,650
|
1,646
|
|
|
Dominican Republic 5.50% 2/22/2029
|
2,757
|
2,683
|
|
|
Dominican Republic 4.50% 1/30/2030
|
8,243
|
7,531
|
|
|
Dominican Republic 4.50% 1/30/20301
|
5,789
|
5,289
|
|
|
Dominican Republic 7.05% 2/3/20311
|
1,850
|
1,919
|
|
|
Dominican Republic 6.00% 2/22/2033
|
5,120
|
4,984
|
|
|
Dominican Republic 6.00% 2/22/20331
|
1,285
|
1,251
|
|
|
Dominican Republic 5.30% 1/21/2041
|
1,276
|
1,088
|
|
|
Dominican Republic 5.30% 1/21/20411
|
412
|
351
|
|
|
Dominican Republic 5.875% 1/30/2060
|
21,900
|
18,676
|
|
|
Dominican Republic 5.875% 1/30/20601
|
1,700
|
1,450
|
|
|
Egypt (Arab Republic of) 5.80% 9/30/2027
|
2,920
|
2,642
|
|
|
Egypt (Arab Republic of) 7.60% 3/1/2029
|
1,075
|
993
|
|
|
Egypt (Arab Republic of) 5.875% 2/16/2031
|
14,025
|
11,256
|
|
|
Egypt (Arab Republic of) 5.875% 2/16/20311
|
4,380
|
3,515
|
|
|
Egypt (Arab Republic of) 7.625% 5/29/20321
|
2,100
|
1,794
|
|
|
Egypt (Arab Republic of) 7.625% 5/29/2032
|
1,500
|
1,281
|
|
|
Egypt (Arab Republic of) 8.50% 1/31/2047
|
1,805
|
1,437
|
|
|
Egypt (Arab Republic of) 7.903% 2/21/2048
|
940
|
715
|
|
|
Egypt (Arab Republic of) 8.70% 3/1/2049
|
2,810
|
2,278
|
|
|
Egypt (Arab Republic of) 8.75% 9/30/2051
|
7,500
|
6,089
|
|
|
Egypt (Arab Republic of) 8.15% 11/20/2059
|
13,605
|
10,442
|
|
|
Egypt (Arab Republic of) 7.50% 2/16/2061
|
24,820
|
17,889
|
|
|
Ethiopia (Federal Democratic Republic of) 6.625% 12/11/20245
|
4,900
|
3,600
|
|
|
Export-Import Bank of India 3.25% 1/15/2030
|
14,100
|
12,666
|
|
|
Gabonese Republic 6.95% 6/16/2025
|
7,400
|
7,272
|
|
|
Gabonese Republic 7.00% 11/24/20311
|
6,000
|
5,133
|
|
|
Gabonese Republic 7.00% 11/24/2031
|
2,200
|
1,882
|
|
|
Georgia (Republic of) 2.75% 4/22/20261
|
2,880
|
2,686
|
|
|
Georgia (Republic of) 2.75% 4/22/2026
|
2,667
|
2,487
|
|
|
Ghana (Republic of) 7.75% 4/7/20291,5
|
3,600
|
1,874
|
|
|
Ghana (Republic of) 8.125% 3/26/20325
|
15,400
|
7,984
|
|
|
Ghana (Republic of) 8.125% 3/26/20321,5
|
1,500
|
778
|
|
|
Honduras (Republic of) 6.25% 1/19/2027
|
17,060
|
16,511
|
|
|
Honduras (Republic of) 5.625% 6/24/2030
|
24,048
|
21,428
|
|
|
Honduras (Republic of) 5.625% 6/24/20301
|
6,175
|
5,502
|
|
|
Hungary (Republic of) 6.25% 9/22/20321
|
4,500
|
4,687
|
|
|
Indonesia (Republic of) 6.625% 2/17/2037
|
20,300
|
22,990
|
|
|
Indonesia (Republic of) 4.625% 4/15/2043
|
5,800
|
5,436
|
|
|
Indonesia (Republic of) 6.75% 1/15/2044
|
575
|
674
|
|
|
Indonesia (Republic of) 5.125% 1/15/2045
|
1,515
|
1,505
|
|
|
Jordan (Hashemite Kingdom of) 5.75% 1/31/20271
|
10,100
|
9,786
|
|
|
Jordan (Hashemite Kingdom of) 7.50% 1/13/2029
|
14,690
|
14,690
|
|
|
Jordan (Hashemite Kingdom of) 5.85% 7/7/20301
|
2,100
|
1,937
|
|
|
Kazakhstan (Republic of) 4.875% 10/14/2044
|
3,200
|
3,056
|
|
|
Kenya (Republic of) 7.25% 2/28/2028
|
13,400
|
12,823
|
|
|
Kenya (Republic of) 8.00% 5/22/2032
|
2,000
|
1,880
|
|
American Funds Multi-Sector Income Fund — Page 32 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Bonds & notes of governments & government agencies outside the U.S. (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Kenya (Republic of) 8.25% 2/28/2048
|
USD200
|
$173
|
|
|
MFB Magyar Fejlesztesi Bank Zartkoruen Mukodo Reszvenytarsasag 6.50% 6/29/2028
|
9,000
|
9,166
|
|
|
Mic Capital Management (RSC) Seven, Ltd. 5.084% 5/22/20531
|
1,070
|
1,012
|
|
|
Mongolia (State of) 3.50% 7/7/2027
|
472
|
426
|
|
|
Mongolia (State of) 8.65% 1/19/20281
|
590
|
623
|
|
|
Mongolia (State of) 7.875% 6/5/2029
|
5,600
|
5,789
|
|
|
Mongolia (State of) 4.45% 7/7/2031
|
3,290
|
2,795
|
|
|
Morocco (Kingdom of) 5.95% 3/8/2028
|
6,100
|
6,173
|
|
|
Mozambique (Republic of) 9.00% 9/15/2031
|
21,360
|
18,346
|
|
|
Nigeria (Republic of) 7.875% 2/16/2032
|
42,940
|
38,996
|
|
|
Nigeria (Republic of) 8.25% 9/28/20511
|
15,000
|
12,332
|
|
|
Oman (Sultanate of) 6.75% 10/28/2027
|
7,350
|
7,655
|
|
|
Oman (Sultanate of) 5.625% 1/17/2028
|
11,100
|
11,164
|
|
|
Pakistan (Islamic Republic of) 6.875% 12/5/2027
|
1,650
|
1,411
|
|
|
Panama (Republic of) 7.125% 1/29/2026
|
200
|
203
|
|
|
Panama (Republic of) 3.16% 1/23/2030
|
400
|
333
|
|
|
Panama (Republic of) 7.50% 3/1/2031
|
4,410
|
4,582
|
|
|
Panama (Republic of) 2.252% 9/29/2032
|
7,300
|
5,230
|
|
|
Panama (Republic of) 6.875% 1/31/2036
|
10,190
|
9,960
|
|
|
Panama (Republic of) 8.00% 3/1/2038
|
6,580
|
6,910
|
|
|
Panama (Republic of) 4.50% 4/16/2050
|
17,000
|
11,518
|
|
|
Panama (Republic of) 4.30% 4/29/2053
|
2,800
|
1,823
|
|
|
Panama (Republic of) 6.853% 3/28/2054
|
9,000
|
8,196
|
|
|
Panama (Republic of) 4.50% 4/1/2056
|
10,000
|
6,542
|
|
|
Panama (Republic of) 7.875% 3/1/2057
|
1,800
|
1,823
|
|
|
Panama (Republic of) 3.87% 7/23/2060
|
12,550
|
7,310
|
|
|
Panama (Republic of) 4.50% 1/19/2063
|
14,545
|
9,357
|
|
|
Paraguay (Republic of) 4.95% 4/28/2031
|
8,000
|
7,716
|
|
|
Paraguay (Republic of) 2.739% 1/29/2033
|
7,000
|
5,700
|
|
|
Paraguay (Republic of) 6.00% 2/9/20361
|
3,874
|
3,929
|
|
|
Peru (Republic of) 4.125% 8/25/2027
|
300
|
291
|
|
|
Peru (Republic of) 2.783% 1/23/2031
|
1,200
|
1,030
|
|
|
Peru (Republic of) 3.00% 1/15/2034
|
17,390
|
14,286
|
|
|
Peru (Republic of) 6.55% 3/14/2037
|
9,500
|
10,346
|
|
|
Peru (Republic of) 3.55% 3/10/2051
|
1,200
|
872
|
|
|
Peru (Republic of) 2.78% 12/1/2060
|
18,649
|
10,798
|
|
|
Peru (Republic of) 3.23% 7/28/2121
|
1,400
|
805
|
|
|
PETRONAS Capital, Ltd. 3.50% 4/21/2030
|
9,700
|
8,913
|
|
|
PETRONAS Capital, Ltd. 3.50% 4/21/20301
|
1,300
|
1,195
|
|
|
PETRONAS Capital, Ltd. 4.55% 4/21/20501
|
800
|
710
|
|
|
Philippines (Republic of) 3.00% 2/1/2028
|
8,300
|
7,739
|
|
|
Philippines (Republic of) 1.648% 6/10/2031
|
1,200
|
960
|
|
|
Philippines (Republic of) 3.95% 1/20/2040
|
9,200
|
7,924
|
|
|
Philippines (Republic of) 3.70% 2/2/2042
|
2,500
|
2,050
|
|
|
Philippines (Republic of) 3.20% 7/6/2046
|
4,800
|
3,450
|
|
|
Philippines (Republic of) 4.20% 3/29/2047
|
4,000
|
3,381
|
|
|
Poland (Republic of) 4.875% 10/4/2033
|
12,905
|
12,736
|
|
|
Qatar (State of) 3.75% 4/16/20301
|
17,100
|
16,429
|
|
|
Qatar (State of) 4.625% 6/2/2046
|
1,500
|
1,381
|
|
|
Qatar (State of) 5.103% 4/23/2048
|
1,600
|
1,559
|
|
|
Qatar (State of) 4.817% 3/14/2049
|
13,600
|
12,773
|
|
|
Qatar (State of) 4.40% 4/16/20501
|
7,600
|
6,728
|
|
|
Republika Srpska 4.75% 4/27/2026
|
EUR835
|
870
|
|
|
Romania 5.375% 3/22/2031
|
18,105
|
19,666
|
|
|
Romania 2.00% 1/28/2032
|
7,500
|
6,448
|
|
American Funds Multi-Sector Income Fund — Page 33 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Bonds & notes of governments & government agencies outside the U.S. (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Romania 2.00% 1/28/2032
|
EUR3,300
|
$2,837
|
|
|
Romania 2.00% 4/14/2033
|
2,720
|
2,259
|
|
|
Romania 6.375% 1/30/20341
|
USD12,694
|
12,895
|
|
|
Romania 3.50% 4/3/2034
|
EUR30
|
28
|
|
|
Romania 5.125% 6/15/2048
|
USD2,900
|
2,469
|
|
|
Romania 5.125% 6/15/20481
|
300
|
255
|
|
|
Saudi Arabia (Kingdom of) 5.00% 1/18/20531
|
14,700
|
13,163
|
|
|
Saudi Arabia (Kingdom of) 5.75% 1/16/2054
|
33,600
|
33,348
|
|
|
Saudi Arabia (Kingdom of) 5.75% 1/16/20541
|
3,690
|
3,662
|
|
|
Senegal (Republic of) 4.75% 3/13/2028
|
EUR4,500
|
4,386
|
|
|
Senegal (Republic of) 4.75% 3/13/2028
|
1,500
|
1,462
|
|
|
Senegal (Republic of) 5.375% 6/8/2037
|
680
|
535
|
|
|
Senegal (Republic of) 6.75% 3/13/2048
|
USD34,700
|
25,839
|
|
|
South Africa (Republic of) 4.30% 10/12/2028
|
25,300
|
22,765
|
|
|
South Africa (Republic of) 5.875% 6/22/2030
|
500
|
464
|
|
|
South Africa (Republic of) 5.875% 4/20/2032
|
10,600
|
9,567
|
|
|
South Africa (Republic of) 5.00% 10/12/2046
|
7,500
|
5,078
|
|
|
South Africa (Republic of) 6.30% 6/22/2048
|
12,200
|
9,620
|
|
|
Sri Lanka (Democratic Socialist Republic of) 7.55% 3/28/20305
|
14,029
|
8,276
|
|
|
Turkey (Republic of) 7.625% 4/26/2029
|
2,450
|
2,503
|
|
|
Turkey (Republic of) 5.875% 6/26/2031
|
30,250
|
27,803
|
|
|
Turkey (Republic of) 6.50% 9/20/2033
|
2,000
|
1,880
|
|
|
Turkey (Republic of) 6.00% 1/14/2041
|
16,200
|
13,375
|
|
|
Ukraine 8.994% 2/1/20265
|
6,377
|
2,407
|
|
|
Ukraine 7.75% 9/1/20285
|
4,500
|
1,483
|
|
|
Ukraine 7.75% 9/1/20295
|
200
|
66
|
|
|
Ukraine 9.75% 11/1/20305
|
200
|
71
|
|
|
Ukraine 6.876% 5/21/20311,5
|
4,800
|
1,407
|
|
|
Ukraine 7.375% 9/25/20345
|
4,500
|
1,317
|
|
|
United Mexican States 3.75% 1/11/2028
|
200
|
190
|
|
|
United Mexican States 4.50% 4/22/2029
|
18,100
|
17,525
|
|
|
United Mexican States 2.659% 5/24/2031
|
649
|
543
|
|
|
United Mexican States 4.75% 4/27/2032
|
18,520
|
17,593
|
|
|
United Mexican States 6.00% 5/7/2036
|
9,710
|
9,752
|
|
|
United Mexican States 6.05% 1/11/2040
|
13,600
|
13,474
|
|
|
United Mexican States 4.75% 3/8/2044
|
200
|
167
|
|
|
United Mexican States 5.00% 4/27/2051
|
1,200
|
1,013
|
|
|
United Mexican States 6.338% 5/4/2053
|
8,095
|
8,007
|
|
|
United Mexican States 6.40% 5/7/2054
|
5,000
|
4,993
|
|
|
United Mexican States 3.75% 4/19/2071
|
4,770
|
3,048
|
|
|
|
|
|
1,167,814
|
|
Asset-backed obligations 5.99%
|
|
|
|
|
AB BSL CLO 2, Ltd., Series 2021-2, Class D, (3-month USD CME Term SOFR + 3.612%) 8.926%
4/15/20341,4,10
|
2,500
|
2,495
|
|
|
Affirm, Inc., Series 2023-B, Class D, 8.78% 9/15/20281,10
|
2,055
|
2,110
|
|
|
Affirm, Inc., Series 2023-B, Class E, 11.32% 9/15/20281,10
|
2,553
|
2,646
|
|
|
American Credit Acceptance Receivables Trust, Series 2021-1, Class D, 1.14% 3/15/20271,10
|
82
|
81
|
|
|
American Credit Acceptance Receivables Trust, Series 2021-3, Class C, 0.98% 11/15/20271,10
|
25
|
25
|
|
|
American Credit Acceptance Receivables Trust, Series 2022-1, Class D, 2.46% 3/13/20281,10
|
2,000
|
1,945
|
|
|
American Credit Acceptance Receivables Trust, Series 2022-3, Class D, 5.83% 10/13/20281,10
|
1,663
|
1,660
|
|
|
American Credit Acceptance Receivables Trust, Series 2023-2, Class D, 6.47% 8/13/20291,10
|
14,180
|
14,207
|
|
|
ARES CLO, Ltd., Series 2013-2, Class DR2, (3-month USD CME Term SOFR + 3.511%) 8.831%
10/28/20341,4,10
|
3,000
|
2,973
|
|
|
Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-1A, Class D, 3.34% 8/20/20261,10
|
10,000
|
9,513
|
|
|
Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/20271,10
|
100
|
95
|
|
|
Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class B, 1.63% 8/20/20271,10
|
1,062
|
972
|
|
American Funds Multi-Sector Income Fund — Page 34 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Asset-backed obligations (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class C, 2.13% 8/20/20271,10
|
USD551
|
$506
|
|
|
Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class D, 3.71% 8/20/20271,10
|
8,000
|
7,273
|
|
|
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-3A, Class B, 6.12% 2/22/20281,10
|
3,841
|
3,881
|
|
|
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-3A, Class C, 7.05% 2/22/20281,10
|
9,363
|
9,561
|
|
|
Babson CLO, Ltd., Series 2021-1, Class D, (3-month USD CME Term SOFR + 3.162%) 8.486%
4/25/20341,4,10
|
4,500
|
4,401
|
|
|
Bankers Healthcare Group Securitization Trust, Series 2020-A, Class B, 3.59% 9/17/20311,10
|
300
|
292
|
|
|
Bankers Healthcare Group Securitization Trust, Series 2020-A, Class C, 5.17% 9/17/20311,10
|
300
|
291
|
|
|
Bankers Healthcare Group Securitization Trust, Series 2021-A, Class B, 2.79% 11/17/20331,10
|
4,733
|
4,305
|
|
|
Bankers Healthcare Group Securitization Trust, Series 2021-A, Class C, 3.69% 11/17/20331,10
|
1,420
|
1,174
|
|
|
Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US,
LLC,
Series 2021-1, Class A, 2.443% 7/15/20461,10
|
1,992
|
1,756
|
|
|
Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US,
LLC,
Series 2021-1, Class B, 3.446% 7/15/20461,10
|
604
|
527
|
|
|
Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class C, 5.65% 4/16/202910
|
3,699
|
3,701
|
|
|
Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class D, 6.03% 11/15/202910
|
7,182
|
7,175
|
|
|
Carvana Auto Receivables Trust, Series 2021-N4, Class C, 1.72% 9/11/202810
|
164
|
156
|
|
|
Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 5/11/20371,10
|
2,371
|
2,092
|
|
|
Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 8/15/20411,10
|
260
|
240
|
|
|
CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/20601,10
|
310
|
267
|
|
|
CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/20611,10
|
94
|
85
|
|
|
CF Hippolyta, LLC, Series 2022-1, Class A1, 5.97% 8/15/20621,10
|
14,456
|
14,115
|
|
|
CFG Investments, Ltd., Series 2023-1, Class A, 8.56% 7/25/20341,10
|
10,706
|
10,791
|
|
|
CLI Funding V, LLC, Series 2020-2A, Class B, 3.56% 9/15/20451,10
|
180
|
162
|
|
|
CLI Funding VI, LLC, Series 2020-1A, Class B, 3.62% 9/18/20451,10
|
233
|
211
|
|
|
CPS Auto Receivables Trust, Series 2022-B, Class D, 5.19% 8/15/20281,10
|
6,000
|
5,901
|
|
|
CPS Auto Receivables Trust, Series 2024-A, Class C, 5.74% 4/15/20301,10
|
1,176
|
1,179
|
|
|
CPS Auto Receivables Trust, Series 2024-A, Class D, 6.13% 4/15/20301,10
|
589
|
592
|
|
|
CPS Auto Receivables Trust, Series 2022-C, Class D, 6.45% 4/15/20301,10
|
3,377
|
3,395
|
|
|
CPS Auto Receivables Trust, Series 2022-D, Class E, 12.12% 6/17/20301,10
|
8,000
|
8,909
|
|
|
CPS Auto Receivables Trust, Series 2024-A, Class E, 8.42% 8/15/20311,10
|
1,000
|
1,015
|
|
|
Credit Acceptance Auto Loan Trust, Series 2022-1A, Class C, 5.70% 10/15/20321,10
|
6,000
|
5,918
|
|
|
Credit Acceptance Auto Loan Trust, Series 2022-1A, Class D, 6.63% 12/15/20321,10
|
8,000
|
7,867
|
|
|
Credit Acceptance Auto Loan Trust, Series 2023-1, Class C, 7.71% 7/15/20331,10
|
10,000
|
10,304
|
|
|
Credit Acceptance Auto Loan Trust, Series 2023-3, Class B, 7.09% 10/17/20331,10
|
3,920
|
3,996
|
|
|
Credit Acceptance Auto Loan Trust, Series 2023-3, Class C, 7.62% 12/15/20331,10
|
4,519
|
4,641
|
|
|
Drive Auto Receivables Trust, Series 2020-2, Class D, 3.05% 5/15/202810
|
118
|
117
|
|
|
DriveTime Auto Owner Trust, Series 2020-2A, Class D, 4.73% 3/16/20261,10
|
614
|
612
|
|
|
DriveTime Auto Owner Trust, Series 2021-1, Class C, 0.84% 10/15/20261,10
|
22
|
22
|
|
|
DriveTime Auto Owner Trust, Series 2021-1A, Class D, 1.16% 11/16/20261,10
|
100
|
96
|
|
|
DriveTime Auto Owner Trust, Series 2021-2A, Class C, 1.10% 2/16/20271,10
|
248
|
246
|
|
|
DriveTime Auto Owner Trust, Series 2021-2A, Class D, 1.50% 2/16/20271,10
|
277
|
266
|
|
|
DriveTime Auto Owner Trust, Series 2023-3, Class C, 6.40% 5/15/20291,10
|
9,464
|
9,546
|
|
|
DriveTime Auto Owner Trust, Series 2023-3, Class D, 7.12% 5/15/20291,10
|
9,784
|
10,029
|
|
|
EDvestinU Private Education Loan, LLC, Series 2021-A, Class A, 1.80% 11/25/20451,10
|
117
|
104
|
|
|
Exeter Automobile Receivables Trust, Series 2020-2, Class D, 4.73% 4/15/20261,10
|
28
|
28
|
|
|
Exeter Automobile Receivables Trust, Series 2022-2A, Class D, 4.56% 7/17/202810
|
106
|
104
|
|
|
Exeter Automobile Receivables Trust, Series 2023-1, Class E, 12.07% 9/16/20301,10
|
9,863
|
11,069
|
|
|
Exeter Automobile Receivables Trust, Series 2023-2, Class E, 9.75% 11/15/20301,10
|
4,243
|
4,529
|
|
|
Exeter Automobile Receivables Trust, Series 2023-3, Class E, 9.98% 1/15/20311,10
|
12,466
|
13,240
|
|
|
Exeter Automobile Receivables Trust, Series 2023-4, Class E, 9.57% 2/18/20311,10
|
18,459
|
19,386
|
|
|
Exeter Automobile Receivables Trust, Series 2023-5, Class E, 9.58% 6/16/20311,10
|
29,214
|
31,034
|
|
|
Exeter Automobile Receivables Trust, Series 2024-1, Class E, 7.89% 8/15/20311,10
|
7,758
|
7,788
|
|
|
Exeter Automobile Receivables Trust, Series 2024-2A, Class E, 7.98% 10/15/20311,10
|
9,081
|
9,105
|
|
|
First Investors Auto Owner Trust, Series 2021-1A, Class D, 1.62% 3/15/20271,10
|
300
|
289
|
|
American Funds Multi-Sector Income Fund — Page 35 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Asset-backed obligations (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Fortress Credit BSL, Ltd., CLO, Series 2023-1, Class B1,
(3-month USD CME Term SOFR + 3.00%) 8.316% 4/23/20361,4,10
|
USD13,282
|
$13,362
|
|
|
GCI Funding I, LLC, Series 2020-1, Class B, 3.81% 10/18/20451,10
|
94
|
84
|
|
|
GCI Funding I, LLC, Series 2021-1, Class B, 3.04% 6/18/20461,10
|
2,257
|
1,863
|
|
|
Generate CLO, Ltd., Series 2023-12, Class D, (3-month USD CME Term SOFR + 5.25%) 10.568%
7/20/20361,4,10
|
2,000
|
2,028
|
|
|
Global SC Finance SRL, Series 2021-1A, Class B, 2.76% 4/17/20411,10
|
1,382
|
1,221
|
|
|
Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 9/17/20391,10
|
271
|
255
|
|
|
Global SC Finance V SRL, Series 2020-1A, Class B, 3.55% 10/17/20401,10
|
305
|
281
|
|
|
Global SC Finance VII SRL, Series 2021-2A, Class B, 2.49% 8/17/20411,10
|
573
|
501
|
|
|
GLS Auto Receivables Trust, Series 2023-3, Class C, 6.01% 5/15/20291,10
|
3,017
|
3,034
|
|
|
GLS Auto Receivables Trust, Series 2023-3, Class D, 6.44% 5/15/20291,10
|
2,728
|
2,760
|
|
|
GLS Auto Receivables Trust, Series 2023-3, Class E, 9.27% 8/15/20301,10
|
3,100
|
3,251
|
|
|
GLS Auto Receivables Trust, Series 2023-4, Class E, 9.72% 8/15/20301,10
|
6,660
|
7,056
|
|
|
GLS Auto Receivables Trust, Series 2024-1, Class E, 7.94% 10/15/20301,10
|
6,818
|
6,848
|
|
|
GSAMP Trust, Series 2005-SD2, Class M3, (1-month USD CME Term SOFR + 1.464%) 6.794%
4/25/20351,4,10
|
328
|
325
|
|
|
Hertz Vehicle Financing III, LLC, Series 2021-A, Class B, 9.44% 6/25/20251,6,10
|
10,827
|
10,827
|
|
|
Hertz Vehicle Financing III, LLC, Series 2023-1, Class 1D, 9.13% 6/25/20271,10
|
2,688
|
2,731
|
|
|
Hertz Vehicle Financing III, LLC, Series 2021-2A, Class C, 2.52% 12/27/20271,10
|
826
|
755
|
|
|
Hertz Vehicle Financing III, LLC, Series 2023-3, Class B, 6.53% 2/25/20281,10
|
6,769
|
6,902
|
|
|
Hertz Vehicle Financing III, LLC, Series 2023-3, Class C, 7.26% 2/25/20281,10
|
10,000
|
10,241
|
|
|
Hertz Vehicle Financing III, LLC, Series 2023-3, Class D, 9.43% 2/25/20281,10
|
9,583
|
9,843
|
|
|
Hertz Vehicle Financing III, LLC, Series 2022-2, Class D, 5.16% 6/26/20281,10
|
9,556
|
8,791
|
|
|
Hertz Vehicle Financing III, LLC, Series 2022-5, Class D, 6.78% 9/25/20281,10
|
7,167
|
6,901
|
|
|
Hertz Vehicle Financing III, LLC, Series 2023-4, Class B, 6.73% 3/25/20301,10
|
7,762
|
8,074
|
|
|
Hertz Vehicle Financing III, LLC, Series 2023-4, Class C, 7.51% 3/25/20301,10
|
4,937
|
5,199
|
|
|
Hertz Vehicle Financing III, LLC, Series 2023-4, Class D, 9.44% 3/25/20301,10
|
12,100
|
12,631
|
|
|
Hertz Vehicle Financing, LLC, Series 2021-1, Class D, 3.98% 12/26/20251,10
|
2,750
|
2,694
|
|
|
Hertz Vehicle Financing, LLC, Series 2021-2, Class D, 4.34% 12/27/20271,10
|
27,490
|
25,109
|
|
|
LAD Auto Receivables Trust, Series 2021-1A, Class B, 1.94% 11/16/20261,10
|
751
|
734
|
|
|
LAD Auto Receivables Trust, Series 2023-1, Class C, 6.18% 12/15/20271,10
|
3,556
|
3,586
|
|
|
LAD Auto Receivables Trust, Series 2023-2, Class D, 6.30% 2/15/20311,10
|
958
|
960
|
|
|
Marble Point CLO, Ltd., Series 2020-1, Class D,
(3-month USD CME Term SOFR + 4.012%) 9.329% 4/20/20331,4,10
|
3,829
|
3,719
|
|
|
Marble Point CLO, Ltd., Series 2019-2, Class D1R,
(3-month USD CME Term SOFR + 3.662%) 8.971% 11/16/20341,4,10
|
2,000
|
1,926
|
|
|
Mission Lane Credit Card Master Trust, Series 2022-A, Class A,
6.92% 9/15/20271,10
|
6,871
|
6,875
|
|
|
Mission Lane Credit Card Master Trust, Series 2022-A, Class B,
9.20% 9/15/20271,10
|
500
|
500
|
|
|
Mission Lane Credit Card Master Trust, Series 2022-A, Class C,
11.82% 9/15/20271,10
|
9,600
|
9,598
|
|
|
Mission Lane Credit Card Master Trust, Series 2022-B, Class A1,
8.25% 1/15/20286,7,10
|
20,015
|
20,001
|
|
|
Mission Lane Credit Card Master Trust, Series 2022-B, Class A2,
8.73% 1/15/20286,7,10
|
3,200
|
3,197
|
|
|
Mission Lane Credit Card Master Trust, Series 2022-B, Class B,
10.42% 1/15/20286,7,10
|
11,980
|
12,081
|
|
|
Mission Lane Credit Card Master Trust, Series 2022-B, Class C,
12.09% 1/15/20286,7,10
|
10,745
|
10,831
|
|
|
Mission Lane Credit Card Master Trust, Series 2022-B, Class D,
14.45% 1/15/20286,7,10
|
5,000
|
5,040
|
|
|
Mission Lane Credit Card Master Trust, Series 2023-A, Class B,
8.15% 7/17/20281,10
|
5,122
|
5,174
|
|
|
Mission Lane Credit Card Master Trust, Series 2023-A, Class C, 10.03% 7/17/20281,10
|
17,200
|
17,313
|
|
|
Mission Lane Credit Card Master Trust, Series 2023-A, Class E, 15.73% 7/17/20281,10
|
6,240
|
6,271
|
|
American Funds Multi-Sector Income Fund — Page 36 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Asset-backed obligations (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Mission Lane Credit Card Master Trust, Series 2023-B, Class D,
11.97% 11/15/20281,10
|
USD16,499
|
$16,638
|
|
|
Mission Lane Credit Card Master Trust, Series 2023-B, Class E,
15.56% 11/15/20281,10
|
15,142
|
15,222
|
|
|
Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 11/15/20461,10
|
3,439
|
3,074
|
|
|
Navigator Aircraft ABS, Ltd., Series 2021-1, Class B, 3.571% 11/15/20461,10
|
782
|
677
|
|
|
Nelnet Student Loan Trust, Series 2021-CA, Class D, 4.44% 4/20/20621,10
|
1,889
|
1,535
|
|
|
New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/20611,10
|
4,050
|
3,553
|
|
|
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class A, 1.59% 5/17/20271,10
|
2,475
|
2,458
|
|
|
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class B, 2.28% 5/17/20271,10
|
1,167
|
1,160
|
|
|
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class C, 2.97% 5/17/20271,10
|
1,150
|
1,135
|
|
|
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class D, 4.94% 5/17/20271,10
|
1,150
|
1,134
|
|
|
OnDeck Asset Securitization Trust, LLC, Series 2023-1A, Class B, 8.25% 8/19/20301,10
|
15,283
|
15,273
|
|
|
Oportun Funding, LLC, Series 2021-B, Class C, 3.65% 5/8/20311,10
|
2,525
|
2,397
|
|
|
Oportun Funding, LLC, Series 2021-B, Class D, 5.41% 5/8/20311,10
|
1,000
|
912
|
|
|
Orion CLO, Ltd., Series 2023-1, Class C, (3-month USD CME Term SOFR + 3.25%) 8.681%
10/25/20361,4,10
|
5,133
|
5,151
|
|
|
Orion CLO, Ltd., Series 2023-1, Class D, (3-month USD CME Term SOFR + 5.15%) 10.584%
10/25/20361,4,10
|
4,162
|
4,217
|
|
|
Palmer Square Loan Funding, CLO, Series 2023-1, Class C,
(3-month USD CME Term SOFR + 4.75%) 10.068% 7/20/20311,4,10
|
9,728
|
9,755
|
|
|
Prestige Auto Receivables Trust, Series 2023-1, Class D, 6.33% 4/16/20291,10
|
5,191
|
5,181
|
|
|
Prestige Auto Receivables Trust, Series 2023-2, Class E, 9.90% 11/15/20301,10
|
10,170
|
10,522
|
|
|
Prestige Auto Receivables Trust, Series 2024-1, Class E, 7.94% 4/15/20311,10
|
2,050
|
2,065
|
|
|
RAD CLO, Ltd., Series 2020-7, Class CR, (3-month USD CME Term SOFR + 2.60%) 7.919%
4/17/20361,4,10
|
13,000
|
13,000
|
|
|
RAD CLO, Ltd., Series 2023-20, Class D, (3-month USD CME Term SOFR + 5.00%) 10.406%
7/20/20361,4,10
|
10,880
|
10,967
|
|
|
Research-Driven Pagaya Motor Asset Trust I, Series 2022-3, Class A, 5.38% 11/25/20301,10
|
5,775
|
5,743
|
|
|
Research-Driven Pagaya Motor Asset Trust I, Series 2022-3, Class B, 6.58% 11/25/20301,10
|
13,829
|
13,605
|
|
|
Santander Drive Auto Receivables Trust, Series 2022-5, Class B, 4.43% 3/15/202710
|
2,589
|
2,567
|
|
|
Santander Drive Auto Receivables Trust, Series 2021-3, Class C, 0.95% 9/15/202710
|
172
|
172
|
|
|
Santander Drive Auto Receivables Trust, Series 2022-7, Class B, 5.95% 1/17/202810
|
1,100
|
1,105
|
|
|
Santander Drive Auto Receivables Trust, Series 2022-5, Class C, 4.74% 10/15/202810
|
2,418
|
2,390
|
|
|
SMB Private Education Loan Trust, Series 2023-C, Class A1A, 5.67% 11/15/20521,10
|
7,329
|
7,399
|
|
|
SMB Private Education Loan Trust, Series 2021-A, Class APT2, 1.07% 1/15/20531,10
|
273
|
241
|
|
|
SMB Private Education Loan Trust, Series 2021-A, Class D2, 3.86% 1/15/20531,10
|
5,359
|
4,645
|
|
|
SMB Private Education Loan Trust, Series 2021-A, Class D1, 3.86% 1/15/20531,10
|
4,276
|
3,706
|
|
|
SMB Private Education Loan Trust, Series 2023-D, Class D, 8.87% 9/15/20531,10
|
10,954
|
11,474
|
|
|
SMB Private Education Loan Trust, Series 2022-A, Class D, 4.75% 11/16/20541,10
|
2,083
|
1,962
|
|
|
SMB Private Education Loan Trust, Series 2022-B, Class D, 5.95% 2/16/20551,10
|
13,111
|
12,505
|
|
|
SMB Private Education Loan Trust, Series 2024-A, Class D, 8.22% 3/15/20561,10
|
30,596
|
30,987
|
|
|
SMB Private Education Loan Trust, Series 2023-B, Class D, 7.56% 10/16/20561,10
|
21,000
|
20,884
|
|
|
SMB Private Education Loan Trust, Series 2022-D, Class D, 7.23% 10/15/20581,10
|
12,789
|
12,760
|
|
|
SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 2.636% 10/15/20461,10
|
2,507
|
2,228
|
|
|
SPRITE, Ltd., Series 2021-1, Class A, 3.75% 11/15/20461,10
|
1,406
|
1,308
|
|
|
Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 10/15/20411,10
|
1,349
|
1,240
|
|
|
Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/20331,10
|
916
|
853
|
|
|
Stonepeak Infrastructure Partners, Series 2021-1A, Class B, 3.821% 2/28/20331,10
|
873
|
792
|
|
|
SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 9/15/20751,10
|
2,207
|
2,078
|
|
|
TAL Advantage V, LLC, Series 2020-1, Class B, 3.29% 9/20/20451,10
|
2,151
|
1,955
|
|
|
Textainer Marine Containers, Ltd., Series 2020-2A, Class B, 3.34% 9/20/20451,10
|
321
|
291
|
|
|
Textainer Marine Containers, Ltd., Series 2021-1, Class B, 2.52% 2/20/20461,10
|
278
|
240
|
|
|
TIF Funding II, LLC, Series 2020-1A, Class B, 3.82% 8/20/20451,10
|
1,006
|
918
|
|
|
TIF Funding II, LLC, Series 2021-1A, Class B, 2.54% 2/20/20461,10
|
1,647
|
1,401
|
|
|
Triton Container Finance VIII, LLC, Series 2020-1, Class B, 3.74% 9/20/20451,10
|
309
|
278
|
|
|
Triton Container Finance VIII, LLC, Series 2021-1A, Class B, 2.58% 3/20/20461,10
|
2,708
|
2,316
|
|
|
Westlake Automobile Receivables Trust, Series 2023-3, Class C, 6.02% 9/15/20281,10
|
11,932
|
12,012
|
|
American Funds Multi-Sector Income Fund — Page 37 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Asset-backed obligations (continued)
|
|
Principal amount
(000)
|
Value
(000)
|
|
Westlake Automobile Receivables Trust, Series 2023-2, Class D, 7.01% 11/15/20281,10
|
USD17,928
|
$18,321
|
|
|
Westlake Automobile Receivables Trust, Series 2023-3, Class D, 6.47% 3/15/20291,10
|
6,642
|
6,721
|
|
|
|
|
|
855,507
|
|
U.S. Treasury bonds & notes 1.45%
U.S. Treasury 1.45%
|
|
|
|
|
U.S. Treasury 4.625% 6/30/2025
|
2,213
|
2,205
|
|
|
U.S. Treasury 4.625% 2/28/2026
|
4,708
|
4,705
|
|
|
U.S. Treasury 4.375% 8/15/2026
|
2,412
|
2,403
|
|
|
U.S. Treasury 4.625% 11/15/2026
|
2,204
|
2,212
|
|
|
U.S. Treasury 4.125% 2/15/2027
|
9
|
9
|
|
|
U.S. Treasury 3.625% 3/31/2028
|
15
|
14
|
|
|
U.S. Treasury 4.00% 1/31/2029
|
21,998
|
21,780
|
|
|
U.S. Treasury 4.25% 2/28/2029
|
38,182
|
38,244
|
|
|
U.S. Treasury 4.125% 11/15/2032
|
2
|
2
|
|
|
U.S. Treasury 4.00% 2/15/2034
|
49,085
|
48,291
|
|
|
U.S. Treasury 4.25% 5/15/2039
|
1,333
|
1,331
|
|
|
U.S. Treasury 4.75% 11/15/204311
|
31,941
|
33,154
|
|
|
U.S. Treasury 4.50% 2/15/2044
|
2,335
|
2,349
|
|
|
U.S. Treasury 4.00% 11/15/2052
|
2,477
|
2,330
|
|
|
U.S. Treasury 4.75% 11/15/205311
|
44,398
|
47,423
|
|
|
|
|
|
206,452
|
|
Municipals 0.32%
California 0.02%
|
|
|
|
|
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed
Bonds, Series 2021-A-1,
3.487% 6/1/2036
|
1,490
|
1,243
|
|
|
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed
Bonds, Series 2021-A-1,
3.714% 6/1/2041
|
2,235
|
1,758
|
|
|
|
|
|
3,001
|
|
Florida 0.00%
|
|
|
|
|
County of Broward, Airport System Rev. Ref. Bonds, Series 2019-C, 3.477% 10/1/2043
|
75
|
62
|
|
|
Illinois 0.03%
|
|
|
|
|
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds
(Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 12/1/2034
|
150
|
156
|
|
|
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds
(Dedicated Rev.), Series 2022-A, 4.00% 12/1/2047
|
4,020
|
3,601
|
|
|
G.O. Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033
|
90
|
89
|
|
|
Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref.
Bonds,
Capital Appreciation Bonds, Series 2017-A, Assured Guaranty Municipal insured,
0% 12/15/2056
|
1,810
|
379
|
|
|
|
|
|
4,225
|
|
Kansas 0.01%
|
|
|
|
|
City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2021-B,
2.44% 6/1/2025
|
1,590
|
1,567
|
|
|
Ohio 0.04%
|
|
|
|
|
Cleveland-Cuyahoga Port Auth., Federal Lease Rev. Bonds (VA Cleveland Health Care
Center Project),
Series 2021, 4.425% 5/1/2031
|
6,275
|
5,468
|
|
American Funds Multi-Sector Income Fund — Page 38 of 46
unaudited
|
Bonds, notes & other debt instruments (continued)
Municipals (continued)
Puerto Rico 0.11%
|
|
Principal amount
(000)
|
Value
(000)
|
|
G.O. Restructured Bonds, Series 2022-A-1, 5.375% 7/1/2025
|
USD977
|
$997
|
|
|
G.O. Restructured Bonds, Series 2022-A-1, 5.625% 7/1/2027
|
968
|
1,030
|
|
|
G.O. Restructured Bonds, Series 2022-A-1, 5.625% 7/1/2029
|
953
|
1,043
|
|
|
G.O. Restructured Bonds, Series 2022-A-1, 5.75% 7/1/2031
|
925
|
1,044
|
|
|
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2033
|
877
|
876
|
|
|
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2035
|
789
|
775
|
|
|
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2037
|
677
|
655
|
|
|
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2041
|
920
|
869
|
|
|
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2046
|
957
|
881
|
|
|
G.O. Restructured Bonds, Capital Appreciation Bonds, Series 2022-A-1, 0% 7/1/2024
|
143
|
142
|
|
|
G.O. Restructured Bonds, Capital Appreciation Bonds, Series 2022-A-1, 0% 7/1/2033
|
1,129
|
742
|
|
|
G.O. Taxable Bonds, Series 2022, 0% 11/1/20434
|
3,878
|
2,247
|
|
|
Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds,
Series 2018-A-1,
0% 7/1/2046
|
14,745
|
4,726
|
|
|
|
|
|
16,027
|
|
Texas 0.09%
|
|
|
|
|
Brazoria County Industrial Dev. Corp., Solid Waste Disposal Facs. Rev. Bonds
(Aleon Renewable Metals, LLC Project), Series 2023, AMT, 12.00% 6/1/20431
|
12,500
|
12,644
|
|
|
Washington 0.02%
|
|
|
|
|
Econ. Dev. Fin. Auth., Environmental Facs. Rev. Bonds (North Pacific Paper Co. Recycling
Project), Series 2020-B,
9.00% 12/1/20361
|
1,915
|
1,963
|
|
|
Total municipals
|
|
|
44,957
|
|
Total bonds, notes & other debt instruments (cost: $13,355,701,000)
|
|
|
13,482,111
|
|
Convertible bonds & notes 0.00%
Communication services 0.00%
|
|
|
|
|
DISH Network Corp., convertible notes, 3.375% 8/15/2026
|
1,078
|
677
|
|
|
Total convertible bonds & notes (cost: $629,000)
|
|
|
677
|
|
Common stocks 0.52%
Utilities 0.24%
|
|
Shares
|
|
|
Talen Energy Corp.12
|
372,237
|
35,121
|
|
|
Information technology 0.10%
|
|
|
|
|
Diebold Nixdorf, Inc.12
|
432,997
|
14,912
|
|
|
Energy 0.08%
|
|
|
|
|
Chesapeake Energy Corp.
|
75,595
|
6,715
|
|
|
FORESEA Holding SA, Class C, nonvoting shares12
|
100,536
|
2,476
|
|
|
FORESEA Holding SA, Class B12
|
12,196
|
300
|
|
|
Exxon Mobil Corp.
|
12,699
|
1,476
|
|
|
California Resources Corp.
|
633
|
35
|
|
|
Mesquite Energy, Inc.6,12
|
127
|
7
|
|
|
|
|
|
11,009
|
American Funds Multi-Sector Income Fund — Page 39 of 46
unaudited
|
Common stocks (continued)
Consumer discretionary 0.05%
|
|
Shares
|
Value
(000)
|
|
Party City Holdco, Inc.6,12
|
394,088
|
$7,385
|
|
|
Party City Holdco, Inc.1,6,12
|
3,934
|
74
|
|
|
NMG Parent, LLC12
|
309
|
30
|
|
|
MYT Holding Co., Class B12
|
8,984
|
2
|
|
|
|
|
|
7,491
|
|
Materials 0.05%
|
|
|
|
|
Venator Materials PLC6,12
|
9,406
|
6,636
|
|
|
Communication services 0.00%
|
|
|
|
|
Intelsat SA
|
1
|
—
9
|
|
|
Total common stocks (cost: $63,562,000)
|
|
|
75,169
|
|
Preferred securities 0.00%
Industrials 0.00%
|
|
|
|
|
ACR III LSC Holdings, LLC, Series B, preferred shares1,6,12
|
5
|
8
|
|
|
Total preferred securities (cost: $5,000)
|
|
|
8
|
|
Rights & warrants 0.00%
Consumer discretionary 0.00%
|
|
|
|
|
NMG Parent, LLC, warrants, expire 9/24/202712
|
374
|
4
|
|
|
Total rights & warrants (cost: $2,000)
|
|
|
4
|
|
Short-term securities 4.00%
Money market investments 4.00%
|
|
|
|
|
Capital Group Central Cash Fund 5.37%13,14
|
5,714,915
|
571,263
|
|
|
Total short-term securities (cost: $571,454,000)
|
|
|
571,263
|
|
Options purchased (equity style) 0.03%
|
|
|
|
|
Options purchased (equity style)*
|
|
|
4,275
|
|
Total options purchased (equity style) (cost: $6,976,000)
|
|
|
4,275
|
|
Total investment securities 98.92% (cost: $13,998,329,000)
|
|
|
14,133,507
|
|
Total options written† (0.02)% (premium received: $5,824,000)
|
|
|
(3,076
)
|
|
Other assets less liabilities 1.10%
|
|
|
156,571
|
|
Net assets 100.00%
|
|
|
$14,287,002
|
American Funds Multi-Sector Income Fund — Page 40 of 46
unaudited
*Options purchased (equity style)
Options on futures
|
Description
|
Number of
contracts
|
Expiration
date
|
Exercise
price
|
Notional
amount
(000)
|
Value at
3/31/2024
(000)
|
|
Put
|
|
|
|
|
|
|
3 Month SOFR Futures Option
|
4,171
|
12/13/2024
|
USD94.37
|
USD1,042,750
|
$261
|
|
3 Month SOFR Futures Option
|
8,342
|
12/13/2024
|
94.44
|
2,085,500
|
573
|
|
3 Month SOFR Futures Option
|
8,342
|
12/13/2024
|
94.94
|
2,085,500
|
1,929
|
|
3 Month SOFR Futures Option
|
4,171
|
12/13/2024
|
95.12
|
1,042,750
|
1,512
|
|
|
|
|
|
|
$4,275
|
†Options written (equity style)
Options on futures
|
Description
|
Number of
contracts
|
Expiration
date
|
Exercise
price
|
Notional
amount
(000)
|
Value at
3/31/2024
(000)
|
|
Put
|
|
|
|
|
|
|
3 Month SOFR Futures Option
|
4,171
|
12/13/2024
|
USD94.63
|
USD1,042,750
|
$(391
)
|
|
3 Month SOFR Futures Option
|
16,683
|
12/13/2024
|
94.69
|
4,170,750
|
(1,877
)
|
|
3 Month SOFR Futures Option
|
4,171
|
12/13/2024
|
94.87
|
1,042,750
|
(808
)
|
|
|
|
|
|
|
$(3,076
)
|
Futures contracts
|
Contracts
|
Type
|
Number of
contracts
|
Expiration
date
|
Notional
amount
(000)
|
Value and
unrealized
appreciation
(depreciation)
at 3/31/2024
(000)
|
|
2 Year U.S. Treasury Note Futures
|
Long
|
4,192
|
7/3/2024
|
USD857,199
|
$(691
)
|
|
5 Year U.S. Treasury Note Futures
|
Long
|
2,542
|
7/3/2024
|
272,034
|
571
|
|
10 Year Euro-Bund Futures
|
Short
|
33
|
6/10/2024
|
(4,749
)
|
(36
)
|
|
10 Year U.S. Treasury Note Futures
|
Short
|
696
|
6/28/2024
|
(77,115
)
|
(12
)
|
|
10 Year U.S. Treasury Note Futures
|
Short
|
13,387
|
6/28/2024
|
(1,534,276
)
|
(11,919
)
|
|
20 Year U.S. Treasury Bond Futures
|
Long
|
3,387
|
6/28/2024
|
407,922
|
4,967
|
|
30 Year Ultra U.S. Treasury Bond Futures
|
Short
|
1,128
|
6/28/2024
|
(145,512
)
|
(1,579
)
|
|
|
|
|
|
|
$(8,699
)
|
Forward currency contracts
|
Contract amount
|
Counterparty
|
Settlement
date
|
Unrealized
appreciation
(depreciation)
at 3/31/2024
(000)
|
|||
|
Currency purchased
(000)
|
Currency sold
(000)
|
|||||
|
USD
|
68,327
|
EUR
|
62,463
|
Standard Chartered Bank
|
4/19/2024
|
$880
|
American Funds Multi-Sector Income Fund — Page 41 of 46
unaudited
Swap contracts
Credit default swaps
Centrally cleared credit default swaps on credit indices — buy protection
|
Reference
index
|
Financing
rate paid
|
Payment
frequency
|
Expiration
date
|
Notional
amount
(000)
|
Value at
3/31/2024
(000)
|
Upfront
premium
paid
(received)
(000)
|
Unrealized
appreciation
(depreciation)
at 3/31/2024
(000)
|
|
CDX.NA.IG.41
|
1.00%
|
Quarterly
|
12/20/2028
|
USD28,902
|
$(661
)
|
$(659
)
|
$(2
)
|
|
CDX.NA.HY.42
|
5.00%
|
Quarterly
|
6/20/2029
|
231,075
|
(16,753
)
|
(16,519
)
|
(234
)
|
|
|
|
|
|
|
$(17,414
)
|
$(17,178
)
|
$(236
)
|
Centrally cleared credit default swaps on credit indices — sell protection
|
Reference
index
|
Financing
rate received
|
Payment
frequency
|
Expiration
date
|
Notional
amount15
(000)
|
Value at
3/31/202416
(000)
|
Upfront
premium
paid
(received)
(000)
|
Unrealized
appreciation
(depreciation)
at 3/31/2024
(000)
|
|
CDX.NA.HY.41
|
5.00%
|
Quarterly
|
12/20/2028
|
USD44,426
|
$3,279
|
$3,276
|
$3
|
|
CDX.NA.IG.42
|
1.00%
|
Quarterly
|
6/20/2029
|
26,301
|
595
|
596
|
(1
)
|
|
|
|
|
|
|
$3,874
|
$3,872
|
$2
|
Investments in affiliates14
|
|
Value at
1/1/2024
(000)
|
Additions
(000)
|
Reductions
(000)
|
Net
realized
gain (loss)
(000)
|
Net
unrealized
appreciation
(depreciation)
(000)
|
Value at
3/31/2024
(000)
|
Dividend
or interest
income
(000)
|
|
Short-term securities 4.00%
|
|||||||
|
Money market investments 4.00%
|
|
|
|
|
|
|
|
|
Capital Group Central Cash Fund 5.37%13
|
$284,321
|
$1,238,104
|
$951,046
|
$33
|
$(149
)
|
$571,263
|
$4,708
|
Restricted securities7
|
|
Acquisition
date(s)
|
Cost
(000)
|
Value
(000)
|
Percent
of net
assets
|
|
Mission Lane Credit Card Master Trust, Series 2022-B, Class A1,
8.25% 1/15/20286,10
|
12/6/2022
|
$20,014
|
$20,001
|
.14
%
|
|
Mission Lane Credit Card Master Trust, Series 2022-B, Class B,
10.42% 1/15/20286,10
|
12/6/2022-6/23/2023
|
11,964
|
12,081
|
.08
|
|
Mission Lane Credit Card Master Trust, Series 2022-B, Class C,
12.09% 1/15/20286,10
|
12/6/2022
|
10,745
|
10,831
|
.08
|
|
Mission Lane Credit Card Master Trust, Series 2022-B, Class D,
14.45% 1/15/20286,10
|
12/6/2022-1/5/2024
|
5,010
|
5,040
|
.04
|
|
Mission Lane Credit Card Master Trust, Series 2022-B, Class A2,
8.73% 1/15/20286,10
|
12/6/2022
|
3,200
|
3,197
|
.02
|
|
Finastra USA, Inc., Term Loan B,
(3-month USD CME Term SOFR + 7.25%) 12.459% 9/13/20293,4
|
9/13/2023
|
16,198
|
16,593
|
.12
|
|
Finastra USA, Inc., Term Loan,
(3-month USD CME Term SOFR + 7.25%) 12.571% 9/13/20293,4
|
9/13/2023-3/13/2024
|
317
|
319
|
.00
17
|
|
Stillwater Mining Co. 4.50% 11/16/2029
|
1/26/2024-2/20/2024
|
8,018
|
7,850
|
.05
|
|
Stillwater Mining Co. 4.00% 11/16/2026
|
2/8/2024-2/20/2024
|
5,472
|
5,421
|
.04
|
|
Wolfspeed, Inc. 9.875% 6/23/2030 (10.875% on 6/23/2026)2,6
|
6/23/2023
|
10,327
|
10,369
|
.07
|
American Funds Multi-Sector Income Fund — Page 42 of 46
unaudited
Restricted securities7 (continued)
|
|
Acquisition
date(s)
|
Cost
(000)
|
Value
(000)
|
Percent
of net
assets
|
|
Modec Finance BV 7.84% 7/15/20266
|
7/28/2023
|
$9,000
|
$9,049
|
.06
%
|
|
NBM US Holdings, Inc. 6.625% 8/6/2029
|
9/22/2020
|
519
|
497
|
.01
|
|
Total
|
|
$100,784
|
$101,248
|
.71
%
|
|
1
|
Acquired in a transaction exempt from registration under Rule 144A or, for commercial
paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in
the U.S. in transactions exempt from registration, normally to qualified institutional
buyers. The total value of all such securities was $5,998,059,000, which
represented 41.98% of the net assets of the fund.
|
|
2
|
Step bond; coupon rate may change at a later date.
|
|
3
|
Loan participations and assignments; may be subject to legal or contractual restrictions
on resale. The total value of all such loans was $183,345,000, which
represented 1.28% of the net assets of the fund.
|
|
4
|
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.
|
|
5
|
Scheduled interest and/or principal payment was not received.
|
|
6
|
Value determined using significant unobservable inputs.
|
|
7
|
Restricted security, other than Rule 144A securities or commercial paper issued pursuant
to Section 4(a)(2) of the Securities Act of 1933. The total value of all
such restricted securities was $101,248,000, which represented .71% of the net assets
of the fund.
|
|
8
|
Payment in kind; the issuer has the option of paying additional securities in lieu
of cash. Payment methods and rates are as of the most recent payment when
available.
|
|
9
|
Amount less than one thousand.
|
|
10
|
Principal payments may be made periodically. Therefore, the effective maturity date
may be earlier than the stated maturity date.
|
|
11
|
All or a portion of this security was pledged as collateral. The total value of pledged
collateral was $29,378,000, which represented .21% of the net assets of
the fund.
|
|
12
|
Security did not produce income during the last 12 months.
|
|
13
|
Rate represents the seven-day yield at 3/31/2024.
|
|
14
|
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
|
|
15
|
The maximum potential amount the fund may pay as a protection seller should a credit
event occur.
|
|
16
|
The prices and resulting values for credit default swap indices serve as an indicator
of the current status of the payment/performance risk. As the value of a
sell protection credit default swap increases or decreases, when compared to the notional
amount of the swap, the payment/performance risk may decrease
or increase, respectively.
|
|
17
|
Amount less than .01%.
|
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.
Equity securities, including depositary receipts, are generally valued at the official
closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day
the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange
or market on which the security trades.
American Funds Multi-Sector Income Fund — Page 43 of 46
unaudited
Fixed-income securities, including short-term securities, are generally valued at
evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more of the inputs described in the following
table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the fund
is authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income
security.
|
Fixed-income class
|
Examples of standard inputs
|
|
All
|
Benchmark yields, transactions, bids, offers, quotations from dealers and
trading systems, new issues, spreads 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 (collectively
referred to as “standard inputs”)
|
|
Corporate bonds, notes & loans; convertible securities
|
Standard inputs and underlying equity of the issuer
|
|
Bonds & notes of governments & government agencies
|
Standard inputs and interest rate volatilities
|
|
Mortgage-backed; asset-backed obligations
|
Standard inputs and cash flows, prepayment information, default rates,
delinquency and loss assumptions, collateral characteristics, credit
enhancements and specific deal information
|
|
Municipal securities
|
Standard inputs and, for certain distressed securities, 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
|
Securities with both fixed-income and equity characteristics, or equity securities
traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund’s investment adviser. The Capital Group Central Cash Fund (“CCF”), a fund within the Capital Group Central Fund Series (“Central Funds“), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF’s portfolio securities. The underlying securities are valued based on the policies and procedures in CCF’s statement of additional information. Exchange-traded options and futures are generally valued at the official closing price for options and official settlement price for futures of the
exchange or market on which such instruments are traded, as of the close of business on the day such instruments are being valued. The average month-end
notional amount of options on futures while held was $10,429,250,000. The average month-end notional amount of futures contracts while
held was $4,258,254,000. Forward currency contracts are valued based on the spot and forward exchange rates obtained from a third-party pricing vendor.
The average month-end notional amount of open forward currency contracts while held was $31,573,000. Swaps are generally valued using evaluated
prices obtained from third-party pricing vendors who calculate these values based on market inputs that may include the yields of the indices
referenced in the instrument and the relevant curve, dealer quotes, default probabilities and recovery rates, and terms of the contract. The average
month-end notional amounts of credit default swaps while held were $484,929,000.
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 the fund’s investment adviser and approved by the board of trustees as further described. The investment adviser follows fair valuation
guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making
fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining
the fair value to be assigned to a particular security, such as the type and cost of the security, restrictions on resale of the security, relevant
financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the
security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions.
In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that
occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations of investments that
are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.
American Funds Multi-Sector Income Fund — Page 44 of 46
unaudited
Processes and structure — The fund’s board of trustees has designated the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Committee”) to administer, implement and oversee the fair valuation process and to make fair value decisions. The Committee regularly
reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate,
update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. Pricing decisions, processes and
controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser’s global risk management group. The Committee reports changes to the fair valuation guidelines to the board of trustees. The fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.
Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical
securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive
markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant
market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels
are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as
Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The following tables present the fund’s valuation levels as of March 31, 2024 (dollars in thousands):
|
|
Investment securities
|
|||
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Assets:
|
|
|
|
|
|
Bonds, notes & other debt instruments:
|
|
|
|
|
|
Corporate bonds, notes & loans
|
$—
|
$9,790,168
|
$19,418
|
$9,809,586
|
|
Mortgage-backed obligations
|
—
|
1,370,623
|
27,172
|
1,397,795
|
|
Bonds & notes of governments & government agencies
outside the U.S.
|
—
|
1,167,814
|
—
|
1,167,814
|
|
Asset-backed obligations
|
—
|
793,530
|
61,977
|
855,507
|
|
U.S. Treasury bonds & notes
|
—
|
206,452
|
—
|
206,452
|
|
Municipals
|
—
|
44,957
|
—
|
44,957
|
|
Convertible bonds & notes
|
—
|
677
|
—
|
677
|
|
Common stocks
|
58,259
|
2,808
|
14,102
|
75,169
|
|
Preferred securities
|
—
|
—
|
8
|
8
|
|
Rights & warrants
|
—
|
4
|
—
|
4
|
|
Short-term securities
|
571,263
|
—
|
—
|
571,263
|
|
Options purchased on futures (equity style)
|
4,275
|
—
|
—
|
4,275
|
|
Total
|
$633,797
|
$13,377,033
|
$122,677
|
$14,133,507
|
|
|
Other investments*
|
|||
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Assets:
|
|
|
|
|
|
Unrealized appreciation on futures contracts
|
$5,538
|
$—
|
$—
|
$5,538
|
|
Unrealized appreciation on open forward currency contracts
|
—
|
880
|
—
|
880
|
|
Unrealized appreciation on centrally cleared credit default swaps
|
—
|
3
|
—
|
3
|
|
Liabilities:
|
|
|
|
|
|
Value of options written
|
(3,076
)
|
—
|
—
|
(3,076
)
|
|
Unrealized depreciation on futures contracts
|
(14,237
)
|
—
|
—
|
(14,237
)
|
|
Unrealized depreciation on centrally cleared credit default swaps
|
—
|
(237
)
|
—
|
(237
)
|
|
Total
|
$(11,775
)
|
$646
|
$—
|
$(11,129
)
|
*
Options written, futures contracts, forward currency contracts and credit default swaps are not included in the fund’s investment portfolio.
American Funds Multi-Sector Income Fund — Page 45 of 46
unaudited
|
Key to abbreviation(s)
|
|
AMT = Alternative Minimum Tax
|
|
Auth. = Authority
|
|
CLO = Collateralized Loan Obligations
|
|
CME = CME Group
|
|
CMO = Collateralized Mortgage Obligations
|
|
DAC = Designated Activity Company
|
|
Dev. = Development
|
|
Econ. = Economic
|
|
EUR = Euros
|
|
Facs. = Facilities
|
|
|
|
Fin. = Finance
|
|
Fncg. = Financing
|
|
G.O. = General Obligation
|
|
PIK = Payment In Kind
|
|
Ref. = Refunding
|
|
REIT = Real Estate Investment Trust
|
|
Rev. = Revenue
|
|
RSC = Restricted Scope Company
|
|
SOFR = Secured Overnight Financing Rate
|
|
USD = U.S. dollars
|
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.
© 2024 Capital Group. All rights reserved.
MFGEFP1-126-0524O-S96494
American Funds Multi-Sector Income Fund — Page 46 of 46