NPORT-EX 3 edgar.htm EDGAR HTML
 
 
American Funds® Global Insight Fund
Investment portfolio
January 31, 2023
unaudited
 
Common stocks 94.65%
Information technology 19.63%
 
Shares
Value
(000)
ASML Holding NV
300,861
$199,249
Microsoft Corp.
803,387
199,087
Broadcom, Inc.
313,354
183,315
Apple, Inc.
983,241
141,872
SAP SE
849,407
99,973
Keyence Corp.
200,860
92,783
Mastercard, Inc., Class A
234,779
87,009
Taiwan Semiconductor Manufacturing Company, Ltd. (ADR)
765,098
70,948
Visa, Inc., Class A
301,955
69,513
Amadeus IT Group SA, Class A, non-registered shares1
1,087,283
68,398
GoDaddy, Inc., Class A1
793,021
65,131
Hamamatsu Photonics KK
1,128,600
60,253
KLA Corp.
132,346
51,943
Texas Instruments, Inc.
261,449
46,331
STMicroelectronics NV
780,782
36,896
OBIC Co., Ltd.
221,400
35,426
ServiceNow, Inc.1
62,350
28,377
Analog Devices, Inc.
148,905
25,533
EVERTEC, Inc.
646,846
23,894
Fidelity National Information Services, Inc.
313,575
23,531
Fujitsu, Ltd.
159,400
22,828
Adyen NV1
14,635
22,124
Worldline SA, non-registered shares1
488,266
22,120
Nokia Corp.
4,254,267
20,274
Dassault Systemes SE
536,606
19,944
Jack Henry & Associates, Inc.
109,639
19,745
Shopify, Inc., Class A, subordinate voting shares1
334,189
16,466
Wolfspeed, Inc.1
151,755
11,687
Trimble, Inc.1
197,040
11,440
Adobe, Inc.1
27,367
10,135
VeriSign, Inc.1
13,080
2,852
Lam Research Corp.
4,745
2,373
 
 
 
1,791,450
Health care 15.89%
 
 
 
Novo Nordisk A/S, Class B
1,550,961
214,783
AstraZeneca PLC
1,330,360
174,062
UnitedHealth Group, Inc.
277,448
138,499
Bristol-Myers Squibb Company
1,559,387
113,289
Abbott Laboratories
787,101
87,014
Danaher Corp.
280,651
74,198
Genmab A/S1
175,945
68,824
BeiGene, Ltd. (ADR)1,2
265,139
67,876
EssilorLuxottica
347,677
63,619
Zoetis, Inc., Class A
343,927
56,916
Seagen, Inc.1
388,737
54,221
American Funds Global Insight Fund — Page 1 of 8
unaudited
Common stocks (continued)
Health care (continued)
 
Shares
Value
(000)
Pfizer, Inc.
1,070,989
$47,295
Edwards Lifesciences Corp.1
521,781
40,021
AbbVie, Inc.
242,093
35,769
Straumann Holding AG
215,787
28,252
Elevance Health, Inc.
55,247
27,623
Humana, Inc.
49,882
25,525
HOYA Corp.
213,900
23,554
Merck & Co., Inc.
201,291
21,621
Terumo Corp.
742,500
21,560
Daiichi Sankyo Company, Ltd.
675,700
21,236
Eli Lilly and Company
35,700
12,286
Shionogi & Co., Ltd.
233,900
11,169
Regeneron Pharmaceuticals, Inc.1
14,495
10,994
Moderna, Inc.1
54,720
9,634
 
 
 
1,449,840
Industrials 12.92%
 
 
 
Safran SA
1,070,264
153,689
Northrop Grumman Corp.
211,698
94,849
Airbus SE, non-registered shares
651,933
81,688
AMETEK, Inc.
499,793
72,430
Honeywell International, Inc.
345,799
72,092
Axon Enterprise, Inc.1
301,318
58,890
TFI International, Inc. (CAD denominated)
457,103
50,910
SMC Corp.
88,000
44,737
Epiroc AB, Class A
2,029,767
39,486
Carrier Global Corp.
832,478
37,903
ABB, Ltd.
981,938
34,193
MTU Aero Engines AG
135,827
33,822
HEICO Corp., Class A
142,523
19,053
HEICO Corp.
82,698
14,137
Daikin Industries, Ltd.
190,100
33,099
Norfolk Southern Corp.
133,241
32,752
Ryanair Holdings PLC (ADR)1
345,728
31,299
CSX Corp.
945,355
29,230
Armstrong World Industries, Inc.
360,207
27,884
ITT, Inc.
284,723
26,078
Waste Connections, Inc.
188,330
25,029
United Airlines Holdings, Inc.1
495,837
24,276
Dun & Bradstreet Holdings, Inc.
1,561,868
22,881
TransDigm Group, Inc.
28,745
20,632
Recruit Holdings Co., Ltd.
615,700
19,764
Raytheon Technologies Corp.
183,047
18,277
General Electric Co.
212,244
17,081
DSV A/S
92,391
15,257
DKSH Holding AG
151,538
12,918
Delta Air Lines, Inc.1
307,953
12,041
BAE Systems PLC
232,078
2,453
 
 
 
1,178,830
Financials 12.38%
 
 
 
AIA Group, Ltd.
11,657,400
131,641
JPMorgan Chase & Co.
759,399
106,285
Aon PLC, Class A
308,245
98,232
London Stock Exchange Group PLC
913,492
83,693
American Funds Global Insight Fund — Page 2 of 8
unaudited
Common stocks (continued)
Financials (continued)
 
Shares
Value
(000)
DBS Group Holdings, Ltd.
2,377,896
$65,096
United Overseas Bank, Ltd.
2,680,000
61,041
HDFC Bank, Ltd. (ADR)
881,988
59,411
Marsh & McLennan Companies, Inc.
332,417
58,143
DNB Bank ASA
2,847,999
53,206
CME Group, Inc., Class A
286,725
50,653
State Street Corp.
467,045
42,655
Arthur J. Gallagher & Co.
188,539
36,901
MSCI, Inc.
62,203
33,065
S&P Global, Inc.
85,194
31,943
Citizens Financial Group, Inc.
728,747
31,569
Chubb, Ltd.
125,746
28,606
First Republic Bank
167,772
23,636
Hong Kong Exchanges and Clearing, Ltd.
467,600
21,017
Moody’s Corp.
63,921
20,630
Partners Group Holding AG
21,766
20,456
Wells Fargo & Company
398,133
18,660
Western Alliance Bancorporation
242,307
18,263
UBS Group AG
766,804
16,327
UniCredit SpA
814,836
15,879
Nasdaq, Inc.
41,850
2,519
 
 
 
1,129,527
Consumer staples 8.51%
 
 
 
Philip Morris International, Inc.
1,019,835
106,308
Nestlé SA
743,504
90,731
L’Oréal SA, non-registered shares
207,904
85,881
Reckitt Benckiser Group PLC
1,062,525
75,664
Anheuser-Busch InBev SA/NV
1,142,311
68,763
Carlsberg A/S, Class B
448,341
63,433
Danone SA
1,124,106
61,517
British American Tobacco PLC
1,541,547
58,955
General Mills, Inc.
503,464
39,451
Imperial Brands PLC
1,018,348
25,530
Diageo PLC
564,041
24,506
Uni-Charm Corp.
555,700
21,224
Unilever PLC (GBP denominated)
394,414
20,150
Costco Wholesale Corp.
38,987
19,928
Mondelez International, Inc.
230,015
15,052
 
 
 
777,093
Consumer discretionary 7.88%
 
 
 
Kering SA
154,371
96,373
Hilton Worldwide Holdings, Inc.
534,287
77,520
Industria de Diseño Textil, SA
2,404,032
75,073
LVMH Moët Hennessy-Louis Vuitton SE
68,959
60,241
Dollar General Corp.
252,508
58,986
MercadoLibre, Inc.1
47,577
56,221
Hermès International
26,442
49,555
YUM! Brands, Inc.
329,280
42,974
Royal Caribbean Cruises, Ltd.1
597,514
38,803
NIKE, Inc., Class B
259,200
33,004
Oriental Land Co., Ltd.
141,100
23,480
B&M European Value Retail SA
4,230,704
23,461
Amazon.com, Inc.1
222,958
22,994
American Funds Global Insight Fund — Page 3 of 8
unaudited
Common stocks (continued)
Consumer discretionary (continued)
 
Shares
Value
(000)
Cie. Financière Richemont SA, Class A
128,183
$19,764
adidas AG
114,116
18,291
Lear Corp.
124,247
18,113
Meituan, Class B1
95,920
2,137
Galaxy Entertainment Group, Ltd.
276,000
1,928
 
 
 
718,918
Energy 4.73%
 
 
 
TotalEnergies SE
1,781,351
110,670
Chevron Corp.
544,450
94,745
BP PLC
10,104,639
61,136
ConocoPhillips
483,923
58,976
TC Energy Corp. (CAD denominated)
878,068
37,834
EOG Resources, Inc.
244,293
32,308
Pioneer Natural Resources Company
99,376
22,891
INPEX Corp.
1,152,100
12,697
 
 
 
431,257
Materials 4.67%
 
 
 
Shin-Etsu Chemical Co., Ltd.
565,000
84,154
Air Liquide SA, non-registered shares
486,538
77,537
Sika AG
201,999
57,509
Sociedad Química y Minera de Chile SA, Class B (ADR)
543,283
52,992
Vale SA (ADR), ordinary nominative shares
2,585,845
48,304
Linde PLC
139,432
46,144
Givaudan SA
10,389
33,720
Asahi Kasei Corp.
1,752,600
13,297
Barrick Gold Corp.
655,209
12,809
 
 
 
426,466
Communication services 4.51%
 
 
 
Alphabet, Inc., Class A1
605,060
59,804
Alphabet, Inc., Class C1
526,467
52,578
América Móvil, SAB de CV, Series L (ADR)
2,700,110
56,513
Koninklijke KPN NV
16,041,503
54,804
Comcast Corp., Class A
1,172,235
46,128
Electronic Arts, Inc.
238,583
30,701
Nippon Telegraph and Telephone Corp.
829,400
24,836
Singapore Telecommunications, Ltd.
10,644,800
20,401
Take-Two Interactive Software, Inc.1
173,249
19,617
Charter Communications, Inc., Class A1
51,027
19,610
Netflix, Inc.1
43,531
15,404
Meta Platforms, Inc., Class A1
55,244
8,230
Tencent Holdings, Ltd.
60,300
2,939
 
 
 
411,565
Utilities 2.64%
 
 
 
Engie SA
4,306,981
61,272
AES Corp.
1,516,111
41,557
Sempra Energy
247,848
39,737
Edison International
375,684
25,885
CenterPoint Energy, Inc.
762,000
22,951
Ørsted AS
245,394
21,873
American Funds Global Insight Fund — Page 4 of 8
unaudited
Common stocks (continued)
Utilities (continued)
 
Shares
Value
(000)
Evergy, Inc.
222,211
$13,922
National Grid PLC
1,058,994
13,470
 
 
 
240,667
Real estate 0.89%
 
 
 
Equinix, Inc. REIT
41,031
30,286
Link REIT
3,600,058
28,963
Crown Castle, Inc. REIT
148,155
21,943
 
 
 
81,192
Total common stocks (cost: $7,922,853,000)
 
 
8,636,805
Preferred securities 0.09%
Information technology 0.09%
 
 
 
Samsung Electronics Co., Ltd., preferred shares (GDR)
7,683
8,612
Total preferred securities (cost: $9,620,000)
 
 
8,612
Rights & warrants 0.00%
Consumer discretionary 0.00%
 
 
 
Compagnie Financière Richemont SA, Class A, warrants, expire 11/22/20231
139,690
162
Total rights & warrants (cost: $0)
 
 
162
Short-term securities 5.72%
Money market investments 5.72%
 
 
 
Capital Group Central Cash Fund 4.46%3,4
5,219,157
521,863
Money market investments purchased with collateral from securities on loan 0.00%
 
 
 
Goldman Sachs Financial Square Government Fund, Institutional Shares 4.23%3,5
125,682
126
Total short-term securities (cost: $521,960,000)
 
 
521,989
Total investment securities 100.46% (cost: $8,454,433,000)
 
 
9,167,568
Other assets less liabilities (0.46)%
 
 
(42,374)
Net assets 100.00%
 
 
$9,125,194
Investments in affiliates4
 
 
Value of
affiliate at
11/1/2022
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain
(000)
Net
unrealized
appreciation
(000)
Value of
affiliate at
1/31/2023
(000)
Dividend
income
(000)
Short-term securities 5.72%
Money market investments 5.72%
 
 
 
 
 
 
 
Capital Group Central Cash Fund 4.46%3
$689,045
$547,382
$714,628
$58
$6
$521,863
$6,959
 
American Funds Global Insight Fund — Page 5 of 8
unaudited
1
Security did not produce income during the last 12 months.
2
All or a portion of this security was on loan. The total value of all such securities was $137,000, which represented less than 0.01% of the net assets of the fund.
3
Rate represents the seven-day yield at 1/31/2023.
4
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
5
Security purchased with cash collateral from securities on loan.
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.
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
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.
American Funds Global Insight Fund — Page 6 of 8
unaudited
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, contractual or legal restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.
Processes and structure — The fund’s board of trustees has designated the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Committee”) to administer, implement and oversee the fair valuation process and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser’s global risk management group. The Committee reports changes to the fair valuation guidelines to the board of trustees. The fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.
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 table presents the fund’s valuation levels as of January 31, 2023 (dollars in thousands): 
 
Investment securities
 
Level 1
Level 2
Level 3
Total
Assets:
 
 
 
 
Common stocks:
 
 
 
 
Information technology
$1,091,182
$700,268
$—
$1,791,450
Health care
822,781
627,059
—
1,449,840
Industrials
707,724
471,106
—
1,178,830
Financials
661,171
468,356
—
1,129,527
Consumer staples
180,739
596,354
—
777,093
Consumer discretionary
348,615
370,303
—
718,918
Energy
246,754
184,503
—
431,257
Materials
160,249
266,217
—
426,466
Communication services
308,585
102,980
—
411,565
Utilities
144,052
96,615
—
240,667
Real estate
52,229
28,963
—
81,192
Preferred securities
—
8,612
—
8,612
Rights & warrants
162
—
—
162
Short-term securities
521,989
—
—
521,989
Total
$5,246,232
$3,921,336
$—
$9,167,568
American Funds Global Insight Fund — Page 7 of 8
unaudited
 
Key to abbreviations
ADR = American Depositary Receipts
CAD = Canadian dollars
GBP = British pounds
GDR = Global Depositary Receipts
REIT = Real Estate Investment Trust
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.
© 2023 Capital Group. All rights reserved.
MFGEFP1-122-0323O-S89741
American Funds Global Insight Fund — Page 8 of 8