0000051931-15-000469.txt : 20150529 0000051931-15-000469.hdr.sgml : 20150529 20150529141006 ACCESSION NUMBER: 0000051931-15-000469 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20150331 FILED AS OF DATE: 20150529 DATE AS OF CHANGE: 20150529 EFFECTIVENESS DATE: 20150529 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN FUNDS FUNDAMENTAL INVESTORS CENTRAL INDEX KEY: 0000039473 IRS NUMBER: 221557722 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-00032 FILM NUMBER: 15898724 BUSINESS ADDRESS: STREET 1: 6455 IRVINE CENTER DRIVE CITY: IRVINE STATE: CA ZIP: 92618 BUSINESS PHONE: 213-486-9501 MAIL ADDRESS: STREET 1: 333 S HOPE ST - 55TH FLOOR (GYR) CITY: LOS ANGELES STATE: CA ZIP: 90071 FORMER COMPANY: FORMER CONFORMED NAME: FUNDAMENTAL INVESTORS INC DATE OF NAME CHANGE: 19920703 0000039473 S000009227 AMERICAN FUNDS FUNDAMENTAL INVESTORS C000025050 Class A ANCFX C000025051 Class R-1 RFNAX C000025052 Class R-2 RFNBX C000025053 Class R-3 RFNCX C000025054 Class R-4 RFNEX C000025055 Class R-5 RFNFX C000025056 Class B AFIBX C000025057 Class C AFICX C000025058 Class F-1 AFIFX C000025059 Class 529-A CFNAX C000025060 Class 529-B CFNBX C000025061 Class 529-C CFNCX C000025062 Class 529-E CFNEX C000025063 Class 529-F-1 CFNFX C000068558 Class F-2 FINFX C000077853 Class R-6 RFNGX C000148457 Class R-2E RFEBX N-Q 1 fi_nq.htm N-Q

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM N-Q

Quarterly Schedule of Portfolio Holdings of

Registered Management Investment Company

 

Investment Company Act File Number: 811-00032

 

 

 

American Funds Fundamental Investors

(Exact Name of Registrant as Specified in Charter)

 

6455 Irvine Center Drive

Irvine, California 92618

(Address of Principal Executive Offices)

 

 

 

 

Registrant's telephone number, including area code: (213) 486-9200

 

Date of fiscal year end: December 31

 

Date of reporting period: March 31, 2015

 

 

 

 

 

Michael W. Stockton

American Funds Fundamental Investors

6455 Irvine Center Drive

Irvine, California 92618

(Name and Address of Agent for Service)

 

 

Copies to:

Mark D. Perlow

K&L Gates LLP

Four Embarcadero Center, Suite 1200

San Francisco, California 94111

(Counsel for the Registrant)

 
 

ITEM 1 – Schedule of Investments

 

Fundamental Investors®
Investment portfolio
March 31, 2015
unaudited
Common stocks 96.20%
Consumer discretionary 17.23% 		Shares Value
(000)
Amazon.com, Inc.1 5,646,800 $2,101,174
Comcast Corp., Class A 34,475,000 1,946,803
Home Depot, Inc. 13,710,000 1,557,593
Walt Disney Co. 9,040,000 948,206
Twenty-First Century Fox, Inc., Class A 26,125,000 884,070
Time Warner Inc. 9,230,000 779,381
Expedia, Inc. 5,006,000 471,215
Target Corp. 5,720,000 469,441
CBS Corp., Class B 5,960,000 361,355
Macy’s, Inc. 5,500,000 357,005
Wynn Resorts, Ltd. 2,352,900 296,183
Johnson Controls, Inc. 5,000,000 252,200
Lowe’s Companies, Inc. 3,380,000 251,438
NIKE, Inc., Class B 2,480,000 248,818
Naspers Ltd., Class N2 1,500,000 230,309
Carnival Corp., units 4,000,000 191,360
Altice SA1,2 1,617,000 174,622
Ralph Lauren Corp., Class A 1,270,000 167,005
Liberty Global PLC, Class C1 2,353,511 117,228
Liberty Global PLC, Class A1 863,679 44,454
JD.com, Inc., Class A (ADR)1 5,300,000 155,714
Priceline Group Inc.1 120,000 139,698
Charter Communications, Inc., Class A1 500,000 96,555
Starbucks Corp. 1,000,000 94,700
Las Vegas Sands Corp. 1,500,000 82,560
Toyota Motor Corp.2 930,000 64,906
    12,483,993
Information technology 15.86%    
Microsoft Corp. 60,210,000 2,447,838
Avago Technologies Ltd. 9,769,682 1,240,554
Google Inc., Class C1 1,062,800 582,414
Google Inc., Class A1 637,800 353,788
Apple Inc. 6,050,000 752,801
Texas Instruments Inc. 12,570,300 718,833
ASML Holding NV2 4,555,030 464,130
ASML Holding NV (New York registered) 2,481,000 250,655
Visa Inc., Class A 9,280,000 607,005
Cisco Systems, Inc. 21,730,000 598,118
Taiwan Semiconductor Manufacturing Co., Ltd.2 95,965,000 445,212
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR) 2,404,800 56,465
Analog Devices, Inc. 7,099,000 447,237
Amphenol Corp., Class A 6,750,000 397,778
Intel Corp. 12,000,000 375,240
salesforce.com, inc.1 5,219,200 348,695
Intuit Inc. 2,762,382 267,841
MasterCard Inc., Class A 2,500,000 215,975
Fundamental Investors — Page 1 of 8
unaudited
Common stocks
Information technology (continued) 		Shares Value
(000)
Maxim Integrated Products, Inc. 6,000,000 $208,860
Murata Manufacturing Co., Ltd.2 1,455,000 200,455
Baidu, Inc., Class A (ADR)1 725,000 151,090
TE Connectivity Ltd. 1,955,000 140,017
ASM Pacific Technology Ltd.2 10,397,300 108,115
Rackspace Hosting, Inc.1 1,300,000 67,067
KLA-Tencor Corp. 825,140 48,097
    11,494,280
Financials 15.85%    
Wells Fargo & Co. 26,095,916 1,419,618
JPMorgan Chase & Co. 18,000,000 1,090,440
Berkshire Hathaway Inc., Class A1 4,555 990,712
American Express Co. 11,020,000 860,882
Capital One Financial Corp. 10,162,000 800,969
CME Group Inc., Class A 8,007,600 758,400
SunTrust Banks, Inc. 12,903,987 530,225
Legal & General Group PLC2 119,784,921 494,444
ACE Ltd. 4,350,000 484,981
Goldman Sachs Group, Inc. 2,438,200 458,308
American International Group, Inc. 7,641,700 418,689
Citigroup Inc. 8,000,000 412,160
PNC Financial Services Group, Inc. 3,491,000 325,501
Weyerhaeuser Co.1 9,000,107 298,354
Iron Mountain Inc. 6,961,529 253,957
KeyCorp 16,060,000 227,410
BlackRock, Inc. 600,000 219,504
Crown Castle International Corp. 2,497,039 206,106
CNO Financial Group, Inc.3 11,900,000 204,918
American Tower Corp. 2,000,000 188,300
Aegon NV2 22,277,585 175,995
Svenska Handelsbanken AB, Class A2 3,820,000 172,411
McGraw Hill Financial, Inc. 1,400,000 144,760
Moody’s Corp. 1,175,000 121,965
Deutsche Bank AG2 3,469,000 120,693
Leucadia National Corp. 4,589,846 102,308
Equity Residential 69,753 5,431
    11,487,441
Industrials 13.43%    
Boeing Co. 11,400,000 1,710,912
General Electric Co. 44,250,000 1,097,842
Union Pacific Corp. 10,040,000 1,087,432
Lockheed Martin Corp. 3,113,200 631,855
Parker-Hannifin Corp. 4,717,400 560,333
United Continental Holdings, Inc.1 6,100,000 410,225
Rockwell Automation 3,500,000 405,965
Cummins Inc. 2,910,000 403,442
Caterpillar Inc. 4,275,000 342,128
Deere & Co. 3,800,000 333,222
Masco Corp. 12,350,000 329,745
Airbus Group NV, non-registered shares2 4,339,253 281,967
TransDigm Group Inc. 1,260,000 275,587
United Technologies Corp. 2,300,000 269,560
Honeywell International Inc. 2,400,000 250,344
Fundamental Investors — Page 2 of 8
unaudited
Common stocks
Industrials (continued) 		Shares Value
(000)
Schneider Electric SE2 2,807,000 $218,339
Waste Management, Inc. 3,400,000 184,382
Grafton Group PLC, units2,3 15,037,000 180,696
MTU Aero Engines AG2 1,835,346 180,220
Fastenal Co. 3,100,000 128,449
Ryanair Holdings PLC (ADR) 1,850,000 123,525
Northrop Grumman Corp. 740,000 119,110
Meggitt PLC2 14,055,334 114,193
Canadian Pacific Railway Ltd. 500,000 91,548
    9,731,021
Health care 10.71%    
Merck & Co., Inc. 21,985,000 1,263,698
Express Scripts Holding Co.1 10,495,000 910,651
Vertex Pharmaceuticals Inc.1 5,500,000 648,835
Pfizer Inc. 18,600,000 647,094
Bristol-Myers Squibb Co. 9,000,000 580,500
UnitedHealth Group Inc. 3,412,000 403,605
Thermo Fisher Scientific Inc. 2,900,000 389,586
Boston Scientific Corp.1 20,000,000 355,000
Regeneron Pharmaceuticals, Inc.1 778,000 351,251
Gilead Sciences, Inc.1 3,418,790 335,486
Hologic, Inc.1 10,005,000 330,415
Johnson & Johnson 3,100,000 311,860
Roche Holding AG2 1,125,000 310,211
Novartis AG2 2,890,000 285,790
Baxter International Inc. 3,751,755 256,995
Abbott Laboratories 3,816,771 176,831
PerkinElmer, Inc. 2,035,000 104,070
Humana Inc. 557,900 99,317
    7,761,195
Consumer staples 8.06%    
Philip Morris International Inc. 25,535,000 1,923,552
Coca-Cola Co. 22,735,000 921,904
Procter & Gamble Co. 6,510,000 533,429
Walgreens Boots Alliance, Inc. 5,375,000 455,155
Campbell Soup Co. 6,000,000 279,300
British American Tobacco PLC2 5,345,000 276,150
Costco Wholesale Corp. 1,700,000 257,541
PepsiCo, Inc. 2,528,630 241,788
Altria Group, Inc. 4,595,000 229,842
Diageo PLC2 7,000,000 193,012
CVS Health Corp. 1,820,000 187,842
Lorillard, Inc. 2,300,001 150,305
Pinnacle Foods Inc. 2,490,000 101,617
Reynolds American Inc. 1,350,000 93,029
    5,844,466
Energy 7.23%    
ConocoPhillips 9,410,000 585,867
Noble Energy, Inc. 8,736,400 427,210
Suncor Energy Inc. 12,996,034 379,759
EOG Resources, Inc. 3,935,000 360,800
Royal Dutch Shell PLC, Class B (ADR) 4,663,834 292,422
Fundamental Investors — Page 3 of 8
unaudited
Common stocks
Energy (continued) 		Shares Value
(000)
Baker Hughes Inc. 4,500,000 $286,110
Concho Resources Inc.1 2,420,000 280,526
Enbridge Inc. 5,284,485 254,722
Chevron Corp. 2,296,037 241,038
Peyto Exploration & Development Corp.3 8,957,500 240,177
FMC Technologies, Inc.1 6,355,957 235,234
Kinder Morgan, Inc. 3,990,000 167,819
Southwestern Energy Co.1 7,000,000 162,330
BP PLC2 24,000,000 155,064
TOTAL SA (ADR) 1,885,000 93,609
TOTAL SA2 1,000,000 49,752
Phillips 66 1,709,488 134,366
Occidental Petroleum Corp. 1,815,800 132,553
Chesapeake Energy Corp. 9,010,430 127,588
Cimarex Energy Co. 1,100,000 126,599
Denbury Resources Inc.3 15,789,900 115,108
Murphy Oil Corp. 2,140,000 99,724
BG Group PLC2 7,950,000 97,663
Pioneer Natural Resources Co. 449,469 73,493
Schlumberger Ltd. 850,000 70,924
CONSOL Energy Inc. 1,600,000 44,624
California Resources Corp. 800,000 6,088
    5,241,169
Materials 3.95%    
Potash Corp. of Saskatchewan Inc. 19,330,000 623,393
E.I. du Pont de Nemours and Co. 7,280,000 520,302
LyondellBasell Industries NV 4,770,000 418,806
FMC Corp. 6,758,000 386,896
Mosaic Co. 5,500,000 253,330
Glencore PLC2 43,000,000 181,029
Monsanto Co. 1,500,000 168,810
Praxair, Inc. 900,000 108,666
Dow Chemical Co. 1,858,318 89,162
MeadWestvaco Corp. 1,222,100 60,946
HudBay Minerals Inc. 6,744,900 55,171
    2,866,511
Telecommunication services 1.13%    
Deutsche Telekom AG2 12,800,000 234,379
SoftBank Corp.2 3,740,000 217,404
Verizon Communications Inc. 3,472,004 168,844
Orange SA2 6,250,000 100,555
TDC A/S2 13,248,762 94,905
    816,087
Utilities 0.26%    
PG&E Corp. 2,500,000 132,675
FirstEnergy Corp. 1,700,000 59,602
    192,277
Miscellaneous 2.49%    
Other common stocks in initial period of acquisition   1,802,208
Total common stocks (cost: $46,238,878,000)   69,720,648
Fundamental Investors — Page 4 of 8
unaudited
Short-term securities 3.59% Principal amount
(000) 		Value
(000)
Abbott Laboratories 0.12% due 6/2/20154 $ 50,000 $49,992
CAFCO, LLC 0.30% due 9/9/2015 10,800 10,786
Caterpillar Financial Services Corp. 0.11% due 4/21/2015 50,000 49,997
Chevron Corp. 0.11%–0.14% due 4/20/2015–7/10/20154 90,100 90,071
Coca-Cola Co. 0.13%–0.22% due 4/23/2015–7/28/20154 154,600 154,573
ExxonMobil Corp. 0.11% due 4/21/2015 30,000 29,998
Fannie Mae 0.08%–0.20% due 4/1/2015–12/1/2015 380,900 380,788
Federal Farm Credit Banks 0.11%–0.14% due 7/2/2015–8/10/2015 86,300 86,280
Federal Home Loan Bank 0.06%–0.17% due 4/15/2015–11/6/2015 955,450 955,224
Freddie Mac 0.10%–0.21% due 4/21/2015–1/5/2016 471,085 470,895
Jupiter Securitization Co., LLC 0.21%–0.27% due 5/27/2015–8/11/20154 75,100 75,038
Pfizer Inc 0.15% due 7/16/20154 31,700 31,690
Private Export Funding Corp. 0.30% due 9/9/20154 30,000 29,960
Procter & Gamble Co. 0.09% due 4/1/20154 50,000 50,000
Regents of the University of California 0.15% due 4/9/2015 7,700 7,700
U.S. Treasury Bills 0.10%–0.14% due 6/25/2015–7/23/2015 129,100 129,096
Total short-term securities (cost: $2,601,873,000)   2,602,088
Total investment securities 99.79% (cost: $48,840,751,000)   72,322,736
Other assets less liabilities 0.21%   150,145
Net assets 100.00%   $72,472,881
As permitted by U.S. Securities and Exchange Commission regulations, “Miscellaneous” securities include holdings in their first year of acquisition that have not previously been publicly disclosed.
Investments in affiliates
A company is an affiliate of the fund under the Investment Company Act of 1940 if the fund’s holdings in that company represent 5% or more of the outstanding voting shares. Further details on these holdings and related transactions during the three months ended March 31, 2015, appear below.
  Beginning
shares 		Additions Reductions Ending
shares 		Dividend
income
(000) 		Value of
affiliates at
3/31/2015
(000)
Peyto Exploration & Development Corp. 8,107,500 850,000 — 8,957,500 $2,017 $240,177
CNO Financial Group, Inc. 11,900,000 — — 11,900,000 714 204,918
Grafton Group PLC, units2 15,037,000 — — 15,037,000 1,575 180,696
Denbury Resources Inc. 20,500,000 — 4,710,100 15,789,900 1,063 115,108
FMC Corp.5 6,758,000 — — 6,758,000 1,115 —
          $6,484 $740,899
    
1 Security did not produce income during the last 12 months.
2 Valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities, including those in “Miscellaneous,“ was $6,026,652,000, which represented 8.32% of the net assets of the fund. This entire amount relates to certain securities trading outside the U.S. whose values were adjusted as a result of significant market movements following the close of local trading.
3 Represents an affiliated company as defined under the Investment Company Act of 1940.
4 Acquired in a transaction exempt from registration under Section 4(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 $481,324,000, which represented .66% of the net assets of the fund.
5 Unaffiliated issuer at 3/31/2015.
Fundamental Investors — 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 of each share class of the fund is generally determined as of approximately 4:00 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 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 prices obtained from one or more 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; 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
When the fund’s investment adviser deems it appropriate to do so (such as when vendor prices are unavailable or deemed to be not representative), fixed-income securities will be valued in good faith at the mean quoted bid and ask prices that are reasonably and timely available (or bid prices, if ask prices are not available) or at prices for securities of comparable maturity, quality and type.
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.
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by authority of the fund’s board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security; contractual or legal restrictions on resale of the security; relevant financial or business developments of the issuer; actively traded similar or related securities; conversion or exchange rights on the security; related corporate actions; significant events occurring after the close of trading in the security; and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations and valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.
Processes and structure — The fund’s board of trustees has delegated authority to the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Fair Valuation Committee”) to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Fair Valuation Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation teams. The Fair Valuation Committee reviews
Fundamental Investors — Page 6 of 8
unaudited
changes in fair value measurements from period to period and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. The Fair Valuation Committee reports any changes to the fair valuation guidelines to the board of trustees with supplemental information to support the changes. The fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.
The fund’s investment adviser has also established a Fixed-Income Pricing Review Group to administer and oversee the fixed-income valuation process, including the use of fixed-income pricing vendors. This group regularly reviews pricing vendor information and market data. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews, including an annual control self-evaluation program facilitated by the investment adviser’s compliance group.
Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The following table presents the fund’s valuation levels as of March 31, 2015 (dollars in thousands):
  Investment securities
  Level 1 Level 2* Level 3 Total
Assets:        
Common stocks:        
Consumer discretionary $12,014,156 $469,837 $— $12,483,993
Information technology 10,276,368 1,217,912 — 11,494,280
Financials 10,523,898 963,543 — 11,487,441
Industrials 8,755,606 975,415 — 9,731,021
Health care 7,165,194 596,001 — 7,761,195
Consumer staples 5,375,304 469,162 — 5,844,466
Energy 4,938,690 302,479 — 5,241,169
Materials 2,685,482 181,029 — 2,866,511
Telecommunication services 168,844 647,243 — 816,087
Utilities 192,277 — — 192,277
Miscellaneous 1,598,177 204,031 — 1,802,208
Short-term securities — 2,602,088 — 2,602,088
Total $63,693,996 $8,628,740 $— $72,322,736
* Securities with a value of $6,026,652,000, which represented 8.32% of the net assets of the fund, were classified as Level 2 due to significant market movements following the close of local trading.
Federal income tax information (dollars in thousands)
Gross unrealized appreciation on investment securities $24,305,464
Gross unrealized depreciation on investment securities (828,502)
Net unrealized appreciation on investment securities 23,476,962
Cost of investment securities 48,845,774
    
Key to abbreviation  
ADR = American Depositary Receipts  
Fundamental Investors — 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 American Funds website at americanfunds.com.
MFGEFPX-010-0515O-S42180 Fundamental Investors — Page 8 of 8

 

 

ITEM 2 – Controls and Procedures

 

The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940), that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule.

 

There were no changes in our internal control over financial reporting during the quarter ended March 31, 2015, which were identified in connection with management's evaluation required by paragraph (d) of Rule 13a-15 and 15d-15 under the Exchange Act, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting, other than as provided below.

 

Effective November 10, 2014, the American Funds Fundamental Investors’ investment adviser implemented a new accounting system. In connection with introducing this new system, additional automated and manual controls were implemented and some existing controls were modified. None of these changes were in response to any identified deficiency or weakness in the American Funds Fundamental Investors’ internal control over financial reporting.

 

 

ITEM 3 – Exhibits

 

The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto.

 

 
 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  AMERICAN FUNDS FUNDAMENTAL INVESTORS
   
  By /s/ Paul F. Roye
 

Paul F. Roye, Executive Vice President and

Principal Executive Officer

   
  Date: May 29, 2015

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

 

By /s/ Paul F. Roye

Paul F. Roye, Executive Vice President and

Principal Executive Officer

 
Date: May 29, 2015

 

 

 

By /s/ Jeffrey P. Regal

Jeffrey P. Regal, Treasurer and

Principal Financial Officer

 
Date: May 29, 2015

 EX-99.CERT 2 fi_cert302.htm CERT302

 

 

 

 

 

American Funds Fundamental Investors

6455 Irvine Center Drive

Irvine, California 92618

(949) 975-5000

 

CERTIFICATION

 

I, Paul F. Roye, certify that:

 

1. I have reviewed this report on Form N-Q of American Funds Fundamental Investors;
   
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
   
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which this report is filed;
   
4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
   
  a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
   
  b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
   
  c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
   
  d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
   
5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions):
   
  a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
   
  b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

Date: May 29, 2015

 

/s/ Paul F. Roye

Paul F. Roye, Executive Vice President and

Principal Executive Officer

American Funds Fundamental Investors

 
 

 

 

 

 

 

American Funds Fundamental Investors

6455 Irvine Center Drive

Irvine, California 92618

(949) 975-5000

 

CERTIFICATION

 

I, Jeffrey P. Regal, certify that:

 

1. I have reviewed this report on Form N-Q of American Funds Fundamental Investors;
   
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
   
3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which this report is filed;
   
4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
   
  a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
   
  b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
   
  c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
   
  d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
   
5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions):
   
  a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
   
  b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

Date: May 29, 2015

 

/s/ Jeffrey P. Regal

Jeffrey P. Regal, Treasurer and

Principal Financial Officer

American Funds Fundamental Investors

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