-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HcDUaW12MmdHLrE2ZZNCA65H3Dv/2uzIIxuzE6C3xAZ2hqlUGc5yAA7XjchlI+cM hlBX6p/KG4BvNEO3AxSrsA== 0000051931-09-000470.txt : 20090529 0000051931-09-000470.hdr.sgml : 20090529 20090529135000 ACCESSION NUMBER: 0000051931-09-000470 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090331 FILED AS OF DATE: 20090529 DATE AS OF CHANGE: 20090529 EFFECTIVENESS DATE: 20090529 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INVESTMENT CO OF AMERICA CENTRAL INDEX KEY: 0000051931 IRS NUMBER: 951426645 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-00116 FILM NUMBER: 09860591 BUSINESS ADDRESS: STREET 1: 333 S HOPE ST - 55TH FL (MICG) CITY: LOS ANGELES STATE: CA ZIP: 90071 BUSINESS PHONE: 213-486-9200 MAIL ADDRESS: STREET 1: 333 S HOPE ST - 55TH FL (MICG) CITY: LOS ANGELES STATE: CA ZIP: 90071 0000051931 S000009597 INVESTMENT CO OF AMERICA C000026214 Class A AIVSX C000026215 Class R-1 RICAX C000026216 Class R-2 RICBX C000026217 Class R-3 RICCX C000026218 Class R-4 RICEX C000026219 Class R-5 RICFX C000026220 Class B AICBX C000026221 Class C AICCX C000026222 Class F-1 AICFX C000026223 Class 529-A CICAX C000026224 Class 529-B CICBX C000026225 Class 529-C CICCX C000026226 Class 529-E CICEX C000026227 Class 529-F-1 CICFX C000068572 Class F-2 ICAFX N-Q 1 ica_nq.htm N-Q Unassociated Document
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: 811-00116



The Investment Company of America
(Exact Name of Registrant as Specified in Charter)

333 South Hope Street,
Los Angeles, California 90071
(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, 2009





Vincent P. Corti
Capital Research and Management Company
333 South Hope Street
Los Angeles, California 90071
(Name and Address of Agent for Service)


Copies to:
Eric A. S. Richards
O’Melveny & Myers LLP
400 South Hope Street, 10th Floor
Los Angeles, California 90071
(Counsel for the Registrant)

 
 
 

ITEM 1 – Schedule of Investments

[logo – American Funds®]



The Investment Company of America®
Investment portfolio

March 31, 2009
unaudited


Common stocks — 83.25%
  
Shares
    
Value
(000)
  
             
ENERGY — 8.13%
            
Baker Hughes Inc.
     10,275,000     $ 293,351  
BP PLC1
    19,550,000       130,642  
Chevron Corp.
     6,332,278       425,782  
ConocoPhillips
     14,083,340       551,504  
Eni SpA1
     4,225,000       81,229  
Eni SpA (ADR)
     770,000       29,506  
Halliburton Co.
     2,550,000       39,449  
Hess Corp.
     4,326,300       234,485  
Marathon Oil Corp.
     8,978,300       236,040  
Royal Dutch Shell PLC, Class A (ADR)
     15,065,000       667,380  
Royal Dutch Shell PLC, Class B1
     2,273,265       49,754  
Royal Dutch Shell PLC, Class B (ADR)
     2,665,498       116,242  
Schlumberger Ltd.
     18,174,999       738,268  
TOTAL SA1
    4,040,000       200,081  
              3,793,713  
                 
MATERIALS — 1.94%
                
Air Products and Chemicals, Inc.
     1,750,000       98,438  
Alcoa Inc.
     1,676,400       12,305  
Barrick Gold Corp.
     7,150,000       231,803  
Dow Chemical Co.
     2,450,000       20,654  
MeadWestvaco Corp.
     4,085,000       48,979  
Monsanto Co.
     211,000       17,534  
Newmont Mining Corp.
     4,790,000       214,400  
Nucor Corp.
     1,447,000       55,232  
POSCO1
     136,000       36,421  
United States Steel Corp.2
     7,552,000       159,574  
Weyerhaeuser Co.
     300,000       8,271  
              903,611  
                 
INDUSTRIALS — 8.86%
                
3M Co.
     2,000,000       99,440  
Boeing Co.
     10,050,000       357,579  
Burlington Northern Santa Fe Corp.
     4,749,700       285,694  
CSX Corp.
     6,160,300       159,244  
Cummins Inc.
     3,880,000       98,746  
Deere & Co.
     7,050,000       231,734  
FedEx Corp.
     3,300,000       146,817  
General Dynamics Corp.
     7,845,800       326,307  
General Electric Co.
     43,895,000       443,778  
Illinois Tool Works Inc.
     6,400,000       197,440  
Lockheed Martin Corp.
     4,345,000       299,935  
Mitsubishi Corp.1
     1,065,000       14,175  
Norfolk Southern Corp.
     1,774,500       59,889  
Raytheon Co.
     2,399,800       93,448  
Siemens AG1
    1,365,000       78,058  
Southwest Airlines Co.
     13,000,000       82,290  
Textron Inc.2
    12,976,616       74,486  
Tyco International Ltd.
     4,183,190       81,823  
Union Pacific Corp.
     4,569,400       187,848  
United Parcel Service, Inc., Class B
     5,800,000       285,476  
United Technologies Corp.
     10,040,000       431,519  
Waste Management, Inc.
     4,000,000       102,400  
              4,138,126  
                 
CONSUMER DISCRETIONARY — 7.27%
                
Best Buy Co., Inc.
     6,472,300       245,689  
Carnival Corp., units
     9,450,000       204,120  
Comcast Corp., Class A
     5,000,000       68,200  
Daimler AG1
     1,660,000       42,136  
Harley-Davidson, Inc.
     4,575,000       61,259  
Honda Motor Co., Ltd.1
    3,560,200       85,214  
Johnson Controls, Inc.
     13,540,300       162,484  
Limited Brands, Inc.2
     20,934,943       182,134  
Lowe’s Companies, Inc.
     23,460,000       428,145  
Mattel, Inc.
     5,459,000       62,942  
McDonald’s Corp.
     2,250,000       122,783  
McGraw-Hill Companies, Inc.
     1,800,000       41,166  
Target Corp.
     21,173,300       728,150  
Time Warner Cable Inc., Class A3
     4,357,600       108,068  
Time Warner Inc.
     20,676,934       399,065  
TJX Companies, Inc.
     3,000,000       76,920  
Toyota Motor Corp.1
    11,725,000       376,186  
              3,394,661  
                 
CONSUMER STAPLES — 11.58%
                
Altria Group, Inc.
     25,295,000       405,226  
Avon Products, Inc.
     13,852,000       266,374  
Coca-Cola Co.
     5,365,000       235,792  
ConAgra Foods, Inc.
     5,521,100       93,141  
General Mills, Inc.
     1,960,000       97,765  
H.J. Heinz Co.
     2,750,000       90,915  
Kellogg Co.
     4,549,503       166,648  
Kimberly-Clark Corp.
     3,000,000       138,330  
Kraft Foods Inc., Class A
     13,644,168       304,129  
Molson Coors Brewing Co., Class B
     7,300,000       250,244  
PepsiCo, Inc.
     18,565,000       955,726  
Philip Morris International Inc.
     38,415,000       1,366,806  
Procter & Gamble Co.
     6,725,000       316,680  
Reynolds American Inc.
     2,666,666       95,573  
Sara Lee Corp.
     17,943,100       144,980  
SYSCO Corp.
     2,450,000       55,860  
Walgreen Co.
     11,401,100       295,973  
Wal-Mart Stores, Inc.
     2,325,000       121,133  
              5,401,295  
                 
HEALTH CARE — 10.33%
                
Abbott Laboratories
     8,188,200       390,577  
Aetna Inc.
     5,000,000       121,650  
Amgen Inc.3
     1,840,792       91,156  
AstraZeneca PLC (ADR)
     2,534,500       89,848  
AstraZeneca PLC (Sweden)1
     3,709,500       130,510  
AstraZeneca PLC (United Kingdom)1
     1,435,000       50,824  
Bayer AG, non-registered shares1
    950,000       45,446  
Bristol-Myers Squibb Co.
     12,775,000       280,028  
Cardinal Health, Inc.
     2,100,000       66,108  
Eli Lilly and Co.
     10,055,000       335,938  
Johnson & Johnson
     600,000       31,560  
McKesson Corp.
     700,000       24,528  
Medtronic, Inc.
     13,912,500       410,001  
Merck & Co., Inc.
     34,680,000       927,690  
Novartis AG1
     800,000       30,145  
Novartis AG (ADR)
     256,556       9,706  
Pfizer Inc
     26,945,000       366,991  
Roche Holding AG1
    5,105,000       699,720  
Schering-Plough Corp.
     13,086,300       308,182  
UnitedHealth Group Inc.
     10,000,000       209,300  
WellPoint, Inc.3
    5,000,000       189,850  
              4,809,758  
                 
FINANCIALS — 2.75%
                
American International Group, Inc.
     5,339,100       5,339  
AXA SA1
     5,095,418       61,781  
Banco Santander, SA1
     28,920,000       198,560  
Bank of America Corp.
     35,000,000       238,700  
Berkshire Hathaway Inc., Class A3
     2,600       225,420  
Capital One Financial Corp.
     7,105,576       86,972  
Citigroup Inc.
     40,000,000       101,200  
Fannie Mae
     13,105,938       9,174  
Fifth Third Bancorp
     2,204,000       6,436  
HSBC Holdings PLC (ADR)
     1,529,416       43,160  
HSBC Holdings PLC (United Kingdom)1
     3,437,111       19,428  
JPMorgan Chase & Co.
     6,790,000       180,478  
PNC Financial Services Group, Inc.
     1,200,000       35,148  
Société Générale1
     800,000       31,369  
Washington Mutual, Inc.4
     1,142,858       63  
Washington Mutual, Inc.1,4
     24,571,428       —  
XL Capital Ltd, Class A
     6,700,000       36,582  
              1,279,810  
                 
INFORMATION TECHNOLOGY — 18.85%
                
Analog Devices, Inc.
     2,300,000       44,321  
Applied Materials, Inc.
     6,450,000       69,338  
Automatic Data Processing, Inc.
     9,215,343       324,011  
Canon, Inc.1
     770,000       22,469  
Cisco Systems, Inc.3
     25,520,400       427,977  
Flextronics International Ltd.3
     19,750,000       57,078  
Google Inc., Class A3
    1,677,480       583,864  
Hewlett-Packard Co.
     18,500,000       593,110  
HTC Corp.1
     10,377,500       128,519  
Intel Corp.
     38,265,000       575,888  
International Business Machines Corp.
     5,535,000       536,286  
KLA-Tencor Corp.
     7,475,000       149,500  
Linear Technology Corp.
     7,600,000       174,648  
Maxim Integrated Products, Inc.
     6,295,000       83,157  
Microsoft Corp.
     78,098,100       1,434,662  
Motorola, Inc.
     14,320,800       60,577  
Nokia Corp.1
     18,000,000       210,429  
Nokia Corp. (ADR)
     5,652,400       65,964  
Oracle Corp.3
     64,695,100       1,169,040  
QUALCOMM Inc.
     4,385,000       170,620  
Samsung Electronics Co., Ltd.1
     684,000       284,754  
SAP AG1
     5,122,900       181,667  
Taiwan Semiconductor Manufacturing Co. Ltd.1
     286,216,974       435,979  
Texas Instruments Inc.
     24,065,000       397,313  
Xerox Corp.
     5,500,000       25,025  
Xilinx, Inc.
     7,650,000       146,574  
Yahoo! Inc.3
     35,732,100       457,728  
              8,810,498  
                 
TELECOMMUNICATION SERVICES — 6.92%
                
AT&T Inc.
     60,026,500       1,512,668  
Deutsche Telekom AG1
    5,750,000       71,430  
France Télécom SA1
     15,745,000       357,544  
Qwest Communications International Inc.
     73,780,000       252,328  
Sprint Nextel Corp., Series 13
     20,000,000       71,400  
Verizon Communications Inc.
     31,999,659       966,390  
              3,231,760  
                 
UTILITIES — 3.79%
                
Dominion Resources, Inc.
     12,263,824       380,056  
Exelon Corp.
     13,110,600       595,090  
FirstEnergy Corp.
     2,743,500       105,899  
FPL Group, Inc.
     300,000       15,219  
GDF Suez1
    4,086,356       140,297  
PPL Corp.
     3,698,000       106,170  
Public Service Enterprise Group Inc.
     10,000,000       294,700  
RWE AG1
     1,920,000       134,793  
              1,772,224  
                 
MISCELLANEOUS — 2.83%
                
Other common stocks in initial period of acquisition
             1,330,834  
                 
                 
Total common stocks (cost: $46,597,066,000)
             38,866,290  
                 
                 
                 
Preferred stocks — 0.14%
                
                 
FINANCIALS — 0.14%
                
BAC Capital Trust XIV 5.63%5
     17,430,000       3,836  
Bank of America Corp., Series K, 8.00% noncumulative5
    39,737,000       15,932  
Bank of America Corp., Series M, 8.125% noncumulative5
     9,960,000       4,097  
Citigroup Inc., Series E, 8.40%5
     41,000,000       23,222  
PNC Preferred Funding Trust I 6.517%5,6
    14,100,000       4,378  
PNC Preferred Funding Trust III 8.70%1,5,6
     20,800,000       8,216  
XL Capital Ltd., Series E, 6.50%5
     21,250,000       4,040  
              63,721  
                 
                 
           
Value
  
Preferred stocks
  
Shares
       (000 )
                 
MISCELLANEOUS — 0.00%
                
Other preferred stocks in initial period of acquisition
           $ 76  
                 
                 
Total preferred stocks (cost: $83,199,000)
             63,797  
                 
                 
                 
                 
Rights & warrants — 0.01%
                
                 
FINANCIALS — 0.00%
                
Washington Mutual, Inc., warrants, expire 20131,3,4
     3,071,428       —  
                 
                 
MISCELLANEOUS — 0.01%
                
Other rights & warrants in initial period of acquisition
             2,893  
                 
                 
Total rights & warrants (cost: $11,770,000)
             2,893  
                 
                 
                 
                 
   
Shares or
          
Convertible securities — 0.61%
  
principal amount
          
                 
CONSUMER DISCRETIONARY — 0.04%
                
Ford Motor Co. Capital Trust II 6.50% convertible preferred 2032
     2,277,900       18,291  
                 
                 
FINANCIALS — 0.00%
                
Fannie Mae, Series 2004-1, 5.375% convertible preferred
     820       287  
                 
                 
TELECOMMUNICATION SERVICES — 0.10%
                
Qwest Communications International Inc. 3.50% convertible debenture 2025
   $ 50,000,000       46,375  
                 
                 
MISCELLANEOUS — 0.47%
                
Other convertible securities in initial period of acquisition
             218,922  
                 
                 
Total convertible securities (cost: $886,693,000)
             283,875  
                 
                 
                 
                 
   
Principal amount
          
Bonds & notes  — 3.27%
     (000 )        
                 
ENERGY — 0.09%
                
Apache Corp. 6.90% 2018
   $ 15,000       16,387  
Chevron Corp. 4.95% 2019
     10,000       10,240  
Williams Companies, Inc. 8.75% 20206
     14,375       14,328  
              40,955  
                 
                 
MATERIALS — 0.05%
                
BHP Billiton Finance (USA) Ltd. 5.50% 2014
     14,660       14,777  
Rio Tinto Finance (USA) Ltd. 5.875% 2013
     10,000       8,975  
              23,752  
                 
INDUSTRIALS — 0.19%
                
Burlington Northern Santa Fe Corp. 5.75% 2018
     15,000       14,829  
Honeywell International Inc. 3.875% 2014
     5,205       5,232  
Honeywell International Inc. 5.00% 2019
     13,090       13,107  
Norfolk Southern Corp. 5.75% 2018
     15,000       14,932  
PACCAR Inc, Series A, 6.875% 2014
     5,000       5,213  
Union Pacific Corp. 5.125% 2014
     11,495       11,359  
Union Pacific Corp. 6.125% 2020
     15,000       14,758  
Waste Management, Inc. 6.375% 2015
     10,000       10,013  
              89,443  
                 
CONSUMER DISCRETIONARY — 0.37%
                
Comcast Corp. 6.50% 2015
     7,710       7,676  
Comcast Corp. 6.30% 2017
     28,120       27,406  
Comcast Corp. 6.50% 2017
     10,000       9,914  
Johnson Controls, Inc. 5.50% 2016
     5,160       3,825  
Kohl’s Corp. 6.00% 2033
     9,518       6,498  
News America Inc. 6.90% 20196
     25,000       23,368  
Staples, Inc. 7.75% 2011
     4,695       4,802  
Staples, Inc. 9.75% 2014
     40,000       41,914  
Time Warner Cable Inc. 8.25% 2019
     15,320       15,770  
Time Warner Inc. 5.875% 2016
     20,000       18,957  
Walt Disney Co. 5.50% 2019
     15,000       15,154  
              175,284  
                 
CONSUMER STAPLES — 0.21%
                
Altria Group, Inc. 9.25% 2019
     18,600       19,920  
British American Tobacco International Finance PLC 9.50% 20186
     20,000       22,760  
Coca-Cola Co. 4.875% 2019
     10,000       10,125  
CVS Caremark Corp. 6.60% 2019
     20,335       20,533  
PepsiAmericas, Inc. 4.375% 2014
     10,000       10,010  
SYSCO Corp. 5.375% 2019
     18,000       18,222  
              101,570  
                 
HEALTH CARE — 0.37%
                
Abbott Laboratories 5.125% 2019
     25,000       25,192  
Aetna Inc. 7.875% 2011
     865       893  
Cardinal Health, Inc. 4.00% 2015
     10,000       8,457  
Cardinal Health, Inc. 5.80% 2016
     14,625       13,453  
Cardinal Health, Inc. 5.85% 2017
     8,355       7,626  
Cardinal Health, Inc. 6.75% 2011
     7,020       7,149  
Novartis Securities Investment Ltd. 5.125% 2019
     20,000       20,346  
Pfizer Inc. 6.20% 2019
     20,000       21,354  
Roche Holdings Inc. 5.00% 20146
    15,000       15,658  
Roche Holdings Inc. 6.00% 20196
     20,000       20,552  
WellPoint, Inc. 7.00% 2019
     32,200       32,274  
              172,954  
                 
FINANCIALS — 0.15%
                
Allstate Life Global Funding Trust, Series 2008-4, 5.375% 2013
     15,000       14,522  
American Express Co. 6.15% 2017
     340       282  
American Express Co. 7.00% 2018
     7,660       6,768  
Bank of America Corp. 5.30% 2017
     10,000       7,359  
Capital One Financial Corp. 5.70% 2011
     10,590       9,540  
Capital One Financial Corp. 5.50% 2015
     1,410       1,143  
Citigroup Inc. 6.125% 2017
     10,000       8,684  
JPMorgan Chase & Co. 4.75% 2013
     10,000       9,702  
National City Corp. 5.80% 2017
     1,350       1,231  
National City Corp. 6.875% 2019
     4,886       4,144  
PNC Funding Corp., Series II, 6.113%5,6
    5,000       1,385  
Simon Property Group, LP 5.25% 2016
     5,875       4,382  
Simon Property Group, LP 6.10% 2016
     1,625       1,288  
Simon Property Group, LP 6.125% 2018
     1,680       1,323  
Société Générale 5.75% 20166
     200       172  
              71,925  
                 
INFORMATION TECHNOLOGY — 0.03%
                
Cisco Systems, Inc. 4.95% 2019
     15,000       14,786  
                 
                 
TELECOMMUNICATION SERVICES — 0.19%
                
AT&T Inc. 4.85% 2014
     15,000       15,159  
AT&T Inc. 5.80% 2019
     20,000       19,615  
France Télécom 8.50% 2031
     1,100       1,391  
Nextel Communications, Inc., Series D, 7.375% 2015
     13,525       7,236  
Nextel Communications, Inc., Series F, 5.95% 2014
     17,075       9,562  
Verizon Communications Inc. 5.55% 20146
    20,000       20,038  
Vodafone Group PLC 5.375% 2015
     6,000       5,974  
Vodafone Group PLC 5.75% 2016
     6,500       6,514  
Vodafone Group PLC 5.625% 2017
     7,500       7,445  
              92,934  
                 
UTILITIES — 0.05%
                
PG&E Corp. 5.75% 2014
     8,000       8,068  
Progress Energy, Inc. 6.05% 2014
     4,000       4,033  
Progress Energy, Inc. 7.05% 2019
     8,800       8,982  
              21,083  
                 
MORTGAGE-BACKED OBLIGATIONS7 — 1.12%
                
Fannie Mae 5.00% 2022
     23,543       24,459  
Fannie Mae 4.50% 2023
     7,088       7,313  
Fannie Mae 4.50% 2023
     17,560       18,117  
Fannie Mae 4.50% 2023
     48,044       49,538  
Fannie Mae 5.00% 2024
     45,571       47,330  
Fannie Mae 5.50% 2024
     25,000       26,114  
Fannie Mae 6.00% 2037
     118,349       123,808  
Fannie Mae 7.00% 2037
     24,528       26,167  
Fannie Mae 5.50% 2038
     24,243       25,200  
Freddie Mac 5.00% 2038
     48,245       49,804  
Freddie Mac 5.50% 2038
     118,743       123,372  
              521,222  
                 
BONDS AND NOTES OF U.S. GOVERNMENT AND GOVERNMENT AGENCIES — 0.45%
                
Fannie Mae 2.75% 2014
     25,000       25,327  
Freddie Mac 1.50% 2011
     10,000       10,043  
Freddie Mac 2.50% 2014
     15,000       15,032  
Freddie Mac 4.50% 2015
     50,000       54,785  
U.S. Treasury 0.875% 2011
     10,000       10,023  
U.S. Treasury 1.125% 2011
     15,000       15,041  
U.S. Treasury 1.75% 2014
     15,000       15,103  
U.S. Treasury 4.125% 2015
     40,000       45,198  
U.S. Treasury 4.625% 2017
     10,000       11,622  
              202,174  
                 
Total bonds & notes (cost: $1,509,551,000)
             1,528,082  
                 
                 
                 
Short-term securities — 12.60%
                
                 
                 
Abbott Laboratories 0.31% due 4/24/20096
    41,800       41,791  
Campbell Soup Co. 0.26% due 5/11/20096
    25,000       24,993  
Coca-Cola Co. 0.30% due 7/20/20096
     30,000       29,969  
Colgate-Palmolive Co. 0.17% due 4/9/20096
    38,600       38,598  
Fannie Mae 0.20%–2.20% due 4/3–8/10/2009
     1,344,824       1,343,801  
Federal Farm Credit Banks 0.70% due 12/22/2009
     30,400       30,236  
Federal Home Loan Bank 0.20%–2.355% due 4/7–12/1/2009
     1,525,642       1,524,511  
Federal Home Loan Bank 0.925% due 12/22/20095
    30,000       29,959  
Freddie Mac 0.19%–2.40% due 4/1–7/28/2009
     1,567,629       1,566,698  
General Dynamics Corp. 0.30% due 4/21/20096
     25,000       24,996  
General Electric Capital Corp., FDIC insured, 0.40% due 4/27/2009
     25,000       24,991  
Hewlett-Packard Co. 0.30% due 4/3/20096
    25,000       24,999  
IBM Corp. 0.24% due 6/8/20096
     25,000       24,981  
International Bank for Reconstruction and Development 0.30% due 4/14/2009
     43,400       43,391  
Jupiter Securitization Co., LLC 0.40% due 4/2–4/16/20096
    25,127       25,124  
Merck & Co. Inc. 0.35% due 4/17/2009
     29,600       29,593  
Procter & Gamble International Funding S.C.A. 0.27%–0.42% due 4/24–5/8/20096
     55,000       54,983  
Ranger Funding Co. 0.40% due 4/2/20096
     22,400       22,399  
U.S. Treasury Bills 0.11%–0.32% due 4/2–8/6/2009
     946,000       945,570  
Yale University 0.35% due 4/1/2009
     32,500       32,500  
                 
                 
Total short-term securities (cost: $5,883,003,000)
             5,884,083  
                 
                 
Total investment securities (cost: $54,971,282,000)
             46,629,020  
Other assets less liabilities
             54,918  
                 
Net assets
           $ 46,683,938  

“Miscellaneous” securities include holdings in their initial period of acquisition that have not previously been publicly disclosed.
 
1Valued under fair value procedures adopted by authority of the board of directors. The total value of all such securities, including those in "Miscellaneous," was $4,589,223,000, which represented 9.83% of the net assets of the fund.
2The fund owns 5% or more of the outstanding voting shares of this company. See the table on the next page for additional information.
3Security did not produce income during the last 12 months.
4Purchased in a transaction exempt from registration under the Securities Act of 1933. May be subject to legal or contractual restrictions on resale.  Further details on these holdings appear below.  

 
Acquisition
date
  
Cost
 (000)
    
Value
 (000)
    
Percent of
net assets
  
                     
 Washington Mutual, Inc.
4/8/2008
   $ 10,000     $ 63       — %
 Washington Mutual, Inc.
4/8/2008
     203,230       —       —  
 Washington Mutual, Inc., warrants, expire 2013
4/8/2008
     11,770       —       —  
                           
 Total restricted securities
     $ 225,000     $ 63       — %

5Coupon rate may change periodically.
6Purchased in a transaction exempt from registration under 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 $443,688,000, which represented .95% of the net assets of the fund.
7Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.


Key to abbreviation

ADR = American Depositary Receipts

 
Investments in affiliates

A company is considered to be 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 of that company. Further details on these holdings and related transactions during the three months ended March 31, 2009, appear below.

 
   
Beginning shares
    
Additions
    
Reductions
    
Ending shares
    
Dividend
 Income
 (000)
    
Value
of affiliates
at 3/31/09
(000)
  
                                     
Limited Brands, Inc.
     20,309,759       625,184       —       20,934,943     $ 3,140     $ 182,134  
United States Steel Corp.
     3,060,000       4,492,000       —       7,552,000       918       159,574  
Textron Inc.
     12,430,000       2,280,300       1,733,684       12,976,616       228       74,486  
                                    $ 4,286     $ 416,194  


Disclosure of fair value measurements

The fund classifies its assets and liabilities into three levels based on the method used to value the assets or liabilities as required by the Statement of Financial Accounting Standards No. 157 (“FAS 157”), Fair Value Measurements. 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. Level 3 values are based on significant unobservable inputs that reflect the fund’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 generally high-quality and liquid; however, they 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, 2009 (dollars in thousands):


   
Investment securities
  
       
Level 1 — Quoted prices
   $ 34,525,751  
Level 2 — Other significant observable inputs
     11,929,575 *
Level 3 — Significant unobservable inputs
     173,694  
Total
   $ 46,629,020  
         
*Includes certain securities trading outside the U.S. whose values were adjusted as a result of significant market movements following the close of local trading; therefore, $4,407,314,000 of investment securities were classified as Level 2 instead of Level 1.
  

 
Disclosure of fair value measurements

The following table reconciles the valuation of the fund’s Level 3 investment securities and related transactions during the three months ended March 31, 2009 (dollars in thousands):
 
   
Level 3
investment
securities
  
       
Beginning value at 1/1/2009
   $ 451  
Net purchases
     262,500  
Net unrealized depreciation
     (88,806 )
Net transfers out of Level 3
     (451 )
Ending value at 3/31/2009
   $ 173,694  
         
Net unrealized depreciation during the period on Level 3 investment securities held at 3/31/2009
   $ (88,806 )

 

Federal income tax information
  
(dollars in thousands)
  
       
Gross unrealized appreciation on investment securities
   $ 5,693,227  
Gross unrealized depreciation on investment securities
     (14,206,352 )
Net unrealized depreciation on investment securities
     (8,513,125 )
Cost of investment securities for federal income tax purposes
     55,142,145  
 


Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so you may lose money.

Investors should carefully consider the investment objectives, risks, charges and expenses of the American Funds. This and other important information is contained in each fund’s prospectus, which can be obtained from your financial professional and should be read carefully before investing.

 
 
 
 
MFGEFP-904-0509O-S15786
 
 
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 the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s 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.

 
THE INVESTMENT COMPANY OF AMERICA
   
 
By /s/ James B. Lovelace
 
James B. Lovelace, President and
Chief Executive Officer
 
   
 
Date: May 29, 2009



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/ James B. Lovelace
James B. Lovelace, President and
Chief Executive Officer
 
Date: May 29, 2009



By /s/ Carmelo Spinella
Carmelo Spinella, Treasurer and
Principal Financial Officer
 
Date: May 29, 2009
 
 EX-99.CERT 2 ica_cert302.htm CERT302 Unassociated Document

[logo - American Funds®]
The Investment Company of America
333 South Hope Street
Los Angeles, California 90071
Phone (213) 486-9200


CERTIFICATION

I, James B. Lovelace, certify that:

1.
I have reviewed this report on Form N-Q of The Investment Company of America;
   
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 Directors (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, 2009

/s/ James B. Lovelace
James B. Lovelace, President and
Chief Executive Officer
The Investment Company of America

 
 
 

[logo - American Funds®]
The Investment Company of America
333 South Hope Street
Los Angeles, California 90071
Phone (213) 486-9200


CERTIFICATION

I, Carmelo Spinella, certify that:

1.
I have reviewed this report on Form N-Q of The Investment Company of America;
   
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 Directors (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, 2009

/s/ Carmelo Spinella
Carmelo Spinella, Treasurer and
Principal Financial Officer
The Investment Company of America
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