NPORT-EX 3 edgar.htm EDGAR HTML
 
 
American Funds® Global Insight Fund
Investment portfolio
January 31, 2024
unaudited
 
Common stocks 95.20%
Information technology 18.82%
 
Shares
Value
(000)
Broadcom, Inc.
240,990
$284,368
Microsoft Corp.
621,263
247,002
ASML Holding NV
251,857
215,853
Apple, Inc.
984,057
181,460
SAP SE
826,141
143,773
Keyence Corp.
218,060
97,817
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)
865,086
97,720
KLA Corp.
152,289
90,466
Fujitsu, Ltd.
468,500
66,155
STMicroelectronics NV
1,260,134
55,328
Analog Devices, Inc.
276,611
53,209
Hamamatsu Photonics KK
1,328,800
52,524
ServiceNow, Inc.1
66,798
51,127
GoDaddy, Inc., Class A1
440,757
47,011
Dassault Systemes SE
773,434
40,307
OBIC Co., Ltd.
261,800
40,164
Salesforce, Inc.1
130,969
36,814
Capgemini SE
133,937
29,983
TDK Corp.
578,715
28,776
Trimble, Inc.1
557,088
28,333
Nomura Research Institute, Ltd.
915,000
27,945
Texas Instruments, Inc.
145,384
23,279
Intel Corp.
467,245
20,129
NICE, Ltd. (ADR)1
81,330
16,925
Adobe, Inc.1
27,367
16,907
Lam Research Corp.
10,279
8,482
Wolfspeed, Inc.1
151,755
4,940
 
2,006,797
Industrials 15.92%
 
 
 
Safran SA
1,124,914
210,651
Airbus SE, non-registered shares
711,354
113,598
Northrop Grumman Corp.
236,901
105,838
FedEx Corp.
356,831
86,100
SMC Corp.
148,800
82,807
AMETEK, Inc.
457,777
74,183
HEICO Corp.
248,016
44,541
HEICO Corp., Class A
142,523
20,163
Ryanair Holdings PLC (ADR)
391,728
52,335
Epiroc AB, Class A
2,831,989
49,843
ITOCHU Corp.
1,073,800
48,797
RELX PLC
1,168,436
48,325
Armstrong World Industries, Inc.
456,945
45,334
ABB, Ltd.
1,071,723
45,326
Daikin Industries, Ltd.
278,100
44,701
CSX Corp.
1,228,478
43,857
American Funds Global Insight Fund — Page 1 of 8
unaudited
Common stocks (continued)
Industrials (continued)
 
Shares
Value
(000)
General Electric Co.
326,400
$43,222
Ingersoll-Rand, Inc.
446,668
35,671
ITT, Inc.
284,723
34,389
Honeywell International, Inc.
168,467
34,074
RTX Corp.
370,192
33,732
TransDigm Group, Inc.
28,745
31,409
MTU Aero Engines AG
135,827
31,368
Recruit Holdings Co., Ltd.
758,200
30,032
Waste Connections, Inc.
188,330
29,240
Rolls-Royce Holdings PLC1
7,587,660
28,837
Lincoln Electric Holdings, Inc.
127,310
28,291
TFI International, Inc. (CAD denominated)
213,799
28,098
Carrier Global Corp.
485,979
26,588
Axon Enterprise, Inc.1
100,543
25,041
United Airlines Holdings, Inc.1
495,837
20,518
ATS Corp.1
449,918
19,246
Delta Air Lines, Inc.
473,373
18,528
Canadian National Railway Co. (CAD denominated)
148,000
18,360
Boeing Co.1
83,440
17,609
DSV A/S
92,391
16,520
Veralto Corp.
197,116
15,117
BAE Systems PLC
581,285
8,659
Norfolk Southern Corp.
28,107
6,612
 
1,697,560
Health care 15.46%
 
 
 
Novo Nordisk AS, Class B
2,830,508
323,273
AstraZeneca PLC
1,513,059
201,379
Abbott Laboratories
1,156,141
130,817
Bristol-Myers Squibb Co.
2,567,068
125,453
UnitedHealth Group, Inc.
217,149
111,124
EssilorLuxottica SA
401,447
78,927
Johnson & Johnson
453,064
71,992
Regeneron Pharmaceuticals, Inc.1
76,349
71,980
Zoetis, Inc., Class A
365,616
68,666
AbbVie, Inc.
410,401
67,470
Genmab A/S1
215,616
59,673
Danaher Corp.
206,254
49,482
BeiGene, Ltd. (ADR)1
268,096
39,740
HOYA Corp.
261,300
33,145
Straumann Holding AG
215,787
33,083
Daiichi Sankyo Co., Ltd.
1,040,800
31,384
CVS Health Corp.
351,051
26,108
Innovent Biologics, Inc.1
6,413,500
25,550
Terumo Corp.
742,500
25,065
Eli Lilly and Co.
35,700
23,048
Pfizer, Inc.
580,615
15,723
Mettler-Toledo International, Inc.1
9,022
10,801
Edwards Lifesciences Corp.1
116,914
9,174
Moderna, Inc.1
78,016
7,884
Molina Healthcare, Inc.1
19,721
7,029
 
1,647,970
American Funds Global Insight Fund — Page 2 of 8
unaudited
Common stocks (continued)
Financials 11.11%
 
Shares
Value
(000)
JPMorgan Chase & Co.
662,032
$115,432
London Stock Exchange Group PLC
921,441
104,289
AIA Group, Ltd.
11,657,400
90,643
Visa, Inc., Class A
328,055
89,644
Marsh & McLennan Companies, Inc.
332,417
64,436
Mastercard, Inc., Class A
142,522
64,025
CME Group, Inc., Class A
307,657
63,328
Aon PLC, Class A
208,950
62,357
DNB Bank ASA
3,010,624
58,400
S&P Global, Inc.
122,609
54,972
Arthur J. Gallagher & Co.
188,539
43,771
United Overseas Bank, Ltd.
2,076,800
43,701
DBS Group Holdings, Ltd.
1,812,396
42,914
Partners Group Holding AG
31,002
42,127
MSCI, Inc.
67,106
40,171
Wells Fargo & Co.
768,283
38,552
State Street Corp.
467,045
34,501
PNC Financial Services Group, Inc.
211,201
31,936
EVERTEC, Inc.
646,846
25,977
UniCredit SpA
814,836
23,916
Jack Henry & Associates, Inc.
98,719
16,370
Skandinaviska Enskilda Banken AB, Class A
524,958
7,445
Chubb, Ltd.
28,929
7,088
ICICI Bank, Ltd. (ADR)
264,990
6,466
Hong Kong Exchanges and Clearing, Ltd.
154,500
4,686
Brookfield Asset Management, Ltd., Class A
106,426
4,277
Worldline SA, non-registered shares1
230,000
3,123
 
1,184,547
Consumer staples 8.63%
 
 
 
L’Oréal SA, non-registered shares
267,111
128,088
Nestlé SA
1,071,602
122,182
Anheuser-Busch InBev SA/NV
1,495,791
92,557
Anheuser-Busch InBev SA/NV (ADR)2
124,301
7,674
Philip Morris International, Inc.
1,024,888
93,111
Danone SA
1,124,106
74,964
Dollar General Corp.
455,352
60,138
Carlsberg A/S, Class B
448,341
57,665
Reckitt Benckiser Group PLC
649,650
46,913
Keurig Dr Pepper, Inc.
1,312,964
41,280
Costco Wholesale Corp.
57,793
40,159
Imperial Brands PLC
1,471,415
35,304
General Mills, Inc.
481,641
31,263
Constellation Brands, Inc., Class A
111,306
27,279
British American Tobacco PLC
921,970
27,225
Uni-Charm Corp.
555,700
19,186
Pernod Ricard SA
92,602
15,241
 
920,229
Consumer discretionary 8.57%
 
 
 
Hilton Worldwide Holdings, Inc.
628,117
119,945
Industria de Diseño Textil, SA
2,559,656
109,412
Amadeus IT Group SA, Class A, non-registered shares
1,519,785
106,238
MercadoLibre, Inc.1
47,314
80,992
Royal Caribbean Cruises, Ltd.1
597,514
76,183
American Funds Global Insight Fund — Page 3 of 8
unaudited
Common stocks (continued)
Consumer discretionary (continued)
 
Shares
Value
(000)
Hermès International
30,121
$63,582
LVMH Moët Hennessy-Louis Vuitton SE
74,089
61,620
adidas AG
214,001
40,720
Tractor Supply Co.
154,857
34,781
Ferrari NV (EUR denominated)
92,253
32,094
B&M European Value Retail SA
4,646,843
30,419
Amazon.com, Inc.1
194,967
30,259
Kering SA
70,849
29,226
Churchill Downs, Inc.
222,027
26,859
Oriental Land Co., Ltd.
705,500
26,188
NIKE, Inc., Class B
229,588
23,310
YUM! Brands, Inc.
131,839
17,072
Galaxy Entertainment Group, Ltd.
910,000
4,725
Compagnie Financière Richemont SA, Class A
2,084
311
 
913,936
Communication services 5.34%
 
 
 
Alphabet, Inc., Class A1
881,675
123,523
Alphabet, Inc., Class C1
726,449
103,010
Koninklijke KPN NV
16,663,261
56,687
Charter Communications, Inc., Class A1
147,572
54,706
América Móvil, SAB de CV, Class B (ADR)
2,700,110
48,737
Comcast Corp., Class A
834,225
38,825
Electronic Arts, Inc.
238,583
32,824
Take-Two Interactive Software, Inc.1
173,249
28,574
Nippon Telegraph and Telephone Corp.
22,482,600
28,384
Netflix, Inc.1
43,531
24,556
Meta Platforms, Inc., Class A
55,244
21,553
Tencent Holdings, Ltd.
143,700
4,998
Singapore Telecommunications, Ltd.
1,680,000
2,989
Nintendo Co., Ltd.
11,400
638
 
570,004
Materials 4.26%
 
 
 
Shin-Etsu Chemical Co., Ltd.
2,550,000
100,486
Air Liquide SA
495,896
92,950
Givaudan SA
18,282
76,058
Sika AG
213,766
59,004
Linde PLC
139,432
56,446
Vale SA (ADR), ordinary nominative shares
3,146,750
43,079
Asahi Kasei Corp.
2,097,700
15,983
Sherwin-Williams Co.
23,553
7,169
Albemarle Corp.
23,749
2,725
 
453,900
Energy 4.02%
 
 
 
TotalEnergies SE
2,735,629
178,166
BP PLC
14,553,605
85,243
TC Energy Corp. (CAD denominated)
1,915,521
75,569
Chevron Corp.
407,304
60,049
ConocoPhillips
261,751
29,282
 
428,309
American Funds Global Insight Fund — Page 4 of 8
unaudited
Common stocks (continued)
Utilities 2.44%
 
Shares
Value
(000)
Engie SA
5,395,219
$86,127
Edison International
626,576
42,281
CenterPoint Energy, Inc.
1,419,567
39,663
Sempra
495,696
35,472
CMS Energy Corp.
550,644
31,475
AES Corp.
1,516,111
25,289
 
260,307
Real estate 0.63%
 
 
 
Equinix, Inc. REIT
47,660
39,547
Link REIT
5,509,369
27,403
 
66,950
Total common stocks (cost: $8,436,729,000)
10,150,509
Short-term securities 4.90%
Money market investments 4.83%
 
 
 
Capital Group Central Cash Fund 5.44%3,4
5,149,792
514,979
Money market investments purchased with collateral from securities on loan 0.07%
 
 
 
Invesco Short-Term Investments Trust – Government & Agency Portfolio,
Institutional Class 5.24%3,5
4,538,524
4,538
State Street Institutional U.S. Government Money Market Fund, Institutional Class 5.27%3,5
2,576,885
2,577
 
7,115
Total short-term securities (cost: $522,066,000)
522,094
Total investment securities 100.10% (cost: $8,958,795,000)
10,672,603
Other assets less liabilities (0.10)%
(10,849
)
Net assets 100.00%
$10,661,754
Investments in affiliates4
 
 
Value at
11/1/2023
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
1/31/2024
(000)
Dividend
or interest
income
(000)
Short-term securities 4.83%
Money market investments 4.83%
Capital Group Central Cash Fund 5.44%3
$221,986
$818,513
$525,503
$(15
)
$(2
)
$514,979
$7,459
 
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 $7,749,000, which represented .07% of the net assets of the fund.
3
Rate represents the seven-day yield at 1/31/2024.
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.
American Funds Global Insight Fund — Page 5 of 8
unaudited
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.
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 Global Insight Fund — Page 6 of 8
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 table presents the fund’s valuation levels as of January 31, 2024 (dollars in thousands): 
 
Investment securities
 
Level 1
Level 2
Level 3
Total
Assets:
Common stocks:
Information technology
$1,208,172
$798,625
$—
$2,006,797
Industrials
938,096
759,464
—
1,697,560
Health care
836,491
811,479
—
1,647,970
Financials
763,303
421,244
—
1,184,547
Consumer staples
300,904
619,325
—
920,229
Consumer discretionary
409,401
504,535
—
913,936
Communication services
476,308
93,696
—
570,004
Materials
109,419
344,481
—
453,900
Energy
164,900
263,409
—
428,309
Utilities
174,180
86,127
—
260,307
Real estate
39,547
27,403
—
66,950
Short-term securities
522,094
—
—
522,094
Total
$5,942,815
$4,729,788
$—
$10,672,603
 
Key to abbreviation(s)
ADR = American Depositary Receipts
CAD = Canadian dollars
EUR = Euros
REIT = Real Estate Investment Trust
American Funds Global Insight Fund — Page 7 of 8
unaudited
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
American Funds Distributors, Inc., member FINRA.
© 2024 Capital Group. All rights reserved.
MFGEFP1-122-0324O-S96496
American Funds Global Insight Fund — Page 8 of 8