-----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, BTaMq91NHoTrTnOHrUrNA06oRHzVkuI2eCp5NGjwdIFX3OlfpAr2aeqEwhcuj/4z nQLHB7b2/wvnmIhooKyYsA== 0000051931-10-000764.txt : 20101126 0000051931-10-000764.hdr.sgml : 20101125 20101126170137 ACCESSION NUMBER: 0000051931-10-000764 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20100930 FILED AS OF DATE: 20101126 DATE AS OF CHANGE: 20101126 EFFECTIVENESS DATE: 20101126 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: 101217132 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 C000077857 Class R-6 RICGX N-Q 1 ica_nq.htm N-Q ica_nq.htm
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: September 30, 2010





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
 
 
 
 
The Investment Company of America® 
Investment portfolio
 
September 30, 2010
unaudited
 
Common stocks — 91.88%
  
Shares
    
Value
(000)
  
             
ENERGY — 9.94%
            
Apache Corp.
     2,240,000     $ 218,982  
Baker Hughes Inc.
     10,030,000       427,278  
BP PLC1
     34,380,000       235,036  
BP PLC (ADR)
     2,800,000       115,276  
Canadian Natural Resources, Ltd.
     1,296,400       44,843  
Chevron Corp.
     6,480,000       525,204  
ConocoPhillips
     19,779,140       1,135,916  
Devon Energy Corp.
     2,690,000       174,151  
Diamond Offshore Drilling, Inc.
     3,775,000       255,832  
Eni SpA1
     4,640,000       100,175  
Eni SpA (ADR)
     770,000       33,249  
EOG Resources, Inc.
     2,812,000       261,432  
Marathon Oil Corp.
     3,590,000       118,829  
Royal Dutch Shell PLC, Class A (ADR)
     16,470,000       993,141  
Royal Dutch Shell PLC, Class B1
     2,343,265       68,406  
Royal Dutch Shell PLC, Class B (ADR)
     2,925,498       171,990  
Schlumberger Ltd.
     12,724,999       783,987  
TOTAL SA1
     3,000,000       154,738  
              5,818,465  
                 
MATERIALS — 3.04%
                
Air Products and Chemicals, Inc.
     1,100,000       91,102  
Akzo Nobel NV1
     749,600       46,374  
ArcelorMittal1
     7,540,000       249,544  
Barrick Gold Corp.
     4,875,000       225,664  
Dow Chemical Co.
     18,435,900       506,250  
E.I. du Pont de Nemours and Co.
     2,400,000       107,088  
MeadWestvaco Corp.
     4,085,000       99,592  
Newmont Mining Corp.
     2,290,000       143,835  
POSCO1
     136,000       61,547  
Praxair, Inc.
     732,293       66,097  
United States Steel Corp.
     4,160,000       182,374  
              1,779,467  
                 
INDUSTRIALS — 10.37%
                
3M Co.
     4,599,265       398,802  
Boeing Co.
     5,678,500       377,847  
CSX Corp.
     11,681,000       646,193  
Deere & Co.
     2,800,000       195,384  
General Dynamics Corp.
     11,238,300       705,878  
General Electric Co.
     13,875,000       225,469  
Illinois Tool Works Inc.
     6,400,000       300,928  
Lockheed Martin Corp.
     2,316,075       165,090  
Norfolk Southern Corp.
     3,612,100       214,956  
Pitney Bowes Inc.
     350,551       7,495  
R.R. Donnelley & Sons Co.
     6,100,000       103,456  
Raytheon Co.
     2,399,800       109,695  
Siemens AG1
    3,465,000       366,478  
Southwest Airlines Co.
     13,000,000       169,910  
Tyco International Ltd.
     2,115,000       77,684  
Union Pacific Corp.
     11,204,800       916,553  
United Parcel Service, Inc., Class B
     2,250,000       150,052  
United Technologies Corp.
     10,840,000       772,133  
Waste Management, Inc.
     4,600,700       164,429  
              6,068,432  
                 
CONSUMER DISCRETIONARY — 9.49%
                
Best Buy Co., Inc.
     4,500,000       183,735  
Carnival Corp., units
     7,450,000       284,665  
CBS Corp., Class B
     6,250,000       99,125  
Comcast Corp., Class A
     11,430,271       206,659  
Comcast Corp., Class A, special nonvoting shares
     2,000,000       34,020  
Daimler AG1,2  
     960,000       60,907  
DIRECTV, Class A2
     6,500,000       270,595  
H&R Block, Inc.
     2,315,000       29,979  
Harley-Davidson, Inc.
     3,500,000       99,540  
Home Depot, Inc.
     23,170,000       734,026  
Honda Motor Co., Ltd.1
     6,650,000       236,554  
Johnson Controls, Inc.
     10,500,000       320,250  
Limited Brands, Inc.
     5,042,743       135,045  
Lowe’s Companies, Inc.
     10,500,000       234,045  
McDonald’s Corp.
     7,150,000       532,747  
McGraw-Hill Companies, Inc.
     3,750,000       123,975  
News Corp., Class A
     5,890,000       76,923  
Staples, Inc.
     14,450,000       302,294  
Target Corp.
     12,997,000       694,560  
Time Warner Cable Inc.
     4,662,727       251,741  
Time Warner Inc.
     13,399,000       410,679  
Toyota Motor Corp.1
    6,550,000       234,768  
              5,556,832  
                 
CONSUMER STAPLES — 11.13%
                
Altria Group, Inc.
     21,125,000       507,422  
Avon Products, Inc.
     14,082,000       452,173  
Coca-Cola Co.
     2,303,300       134,789  
Colgate-Palmolive Co.
     1,500,000       115,290  
ConAgra Foods, Inc.
     5,521,100       121,133  
CVS/Caremark Corp.
     10,500,000       330,435  
General Mills, Inc.
     3,920,000       143,237  
H.J. Heinz Co.
     2,750,000       130,268  
Kellogg Co.
     1,000,000       50,510  
Kimberly-Clark Corp.
     1,500,000       97,575  
Kraft Foods Inc., Class A
     19,274,168       594,801  
Lorillard, Inc.
     2,635,600       211,665  
Molson Coors Brewing Co., Class B
     5,925,000       279,778  
PepsiCo, Inc.
     14,165,000       941,123  
Philip Morris International Inc.
     38,151,000       2,137,219  
Reynolds American Inc.
     666,666       39,593  
Sara Lee Corp.
     5,000,000       67,150  
Sysco Corp.
     2,050,000       58,466  
Walgreen Co.
     3,041,100       101,877  
              6,514,504  
                 
HEALTH CARE — 7.10%
                
Abbott Laboratories
     14,335,000       748,860  
Aetna Inc.
     3,250,000       102,733  
Amgen Inc.2
     1,840,792       101,446  
Bayer AG1
    950,000       66,338  
Boston Scientific Corp.2
     69,340,000       425,054  
Eli Lilly and Co.
     6,295,000       229,956  
Johnson & Johnson
     3,100,000       192,076  
Medtronic, Inc.
     9,112,500       305,998  
Merck & Co., Inc.
     44,906,869       1,653,022  
Novartis AG1
     663,000       38,205  
Novartis AG (ADR)
     921,556       53,146  
Pfizer Inc
     7,900,000       135,643  
Roche Holding AG1
     760,000       103,771  
              4,156,248  
                 
FINANCIALS — 7.82%
                
American International Group, Inc.2
     141,955       5,550  
AXA SA1
     3,250,000       57,067  
Banco Santander, SA1
    67,527,912       855,559  
Banco Santander, SA (ADR)
     11,000,000       139,260  
Bank of America Corp.
     54,237,935       711,059  
Bank of New York Mellon Corp.
     10,533,812       275,249  
BB&T Corp.
     8,618,900       207,543  
BNP Paribas SA1
    1,200,000       85,753  
Capital One Financial Corp.
     7,500,000       296,625  
Citigroup Inc.2
     50,000,000       195,000  
HSBC Holdings PLC (ADR)
     1,529,416       77,373  
HSBC Holdings PLC (United Kingdom)1
     4,869,240       49,311  
JPMorgan Chase & Co.
     15,660,000       596,176  
Moody’s Corp.
     7,875,800       196,738  
Northern Trust Corp.
     1,085,000       52,340  
Société Générale1
     2,759,523       159,763  
State Street Corp.
     2,359,100       88,844  
SunTrust Banks, Inc.
     6,000,000       154,980  
Wells Fargo & Co.
     14,935,000       375,317  
              4,579,507  
                 
INFORMATION TECHNOLOGY — 22.25%
                
Accenture PLC, Class A
     6,400,000       271,936  
Analog Devices, Inc.
     5,726,900       179,710  
Applied Materials, Inc.
     10,525,000       122,932  
Automatic Data Processing, Inc.
     4,023,043       169,088  
Canon, Inc.1
     770,000       36,006  
Cisco Systems, Inc.2
     14,420,400       315,807  
Corning Inc.
     26,669,820       487,524  
Flextronics International Ltd.2
     16,000,000       96,640  
Google Inc., Class A2
     2,270,530       1,193,822  
Hewlett-Packard Co.
     26,590,000       1,118,641  
HTC Corp.1
     1,265,750       28,711  
Intel Corp.
     50,164,700       964,667  
International Business Machines Corp.
     4,385,000       588,204  
KLA-Tencor Corp.
     6,726,900       236,989  
Linear Technology Corp.
     8,320,000       255,674  
MasterCard Inc., Class A
     1,100,000       246,400  
Maxim Integrated Products, Inc.
     6,547,700       121,198  
Microsoft Corp.
     88,265,800       2,161,629  
Nokia Corp.1
     24,200,000       243,350  
Nokia Corp. (ADR)
     5,652,400       56,694  
Oracle Corp.
     65,960,100       1,771,029  
QUALCOMM Inc.
     10,157,000       458,284  
SAP AG1
     2,140,000       106,007  
Taiwan Semiconductor Manufacturing Co. Ltd.1
     95,036,325       188,533  
Telefonaktiebolaget LM Ericsson, Class B1
     19,750,000       216,961  
Texas Instruments Inc.
     22,825,000       619,471  
Xilinx, Inc.
     8,954,500       238,279  
Yahoo! Inc.2
     37,513,200       531,562  
              13,025,748  
                 
TELECOMMUNICATION SERVICES — 5.53%
                
AT&T Inc.
     85,701,900       2,451,074  
France Télécom SA1
     6,220,000       134,588  
Qwest Communications International Inc.
     80,980,000       507,745  
Verizon Communications Inc.
     4,500,000       146,655  
              3,240,062  
                 
UTILITIES — 3.44%
                
Dominion Resources, Inc.
     11,766,724       513,735  
Exelon Corp.
     7,610,600       324,059  
FirstEnergy Corp.
     6,443,500       248,333  
GDF SUEZ1
    13,795,324       495,398  
NextEra Energy, Inc.
     300,000       16,317  
Public Service Enterprise Group Inc.
     10,000,000       330,800  
RWE AG1
     1,300,000       87,691  
              2,016,333  
                 
MISCELLANEOUS — 1.77%
                
Other common stocks in initial period of acquisition
             1,034,277  
                 
                 
Total common stocks (cost: $46,071,949,000)
             53,789,875  
                 
                 
                 
                 
Preferred stocks — 0.32%
                
                 
FINANCIALS — 0.32%
                
JPMorgan Chase & Co., Series I, 7.90%3
     84,861,000       91,248  
PNC Funding Corp., Series II, 6.113%3,4
    5,000,000       3,654  
PNC Preferred Funding Trust I 6.517%3,4
     14,900,000       11,233  
PNC Preferred Funding Trust III 8.70%3,4
     34,000,000       35,850  
Société Générale 5.922%3,4
     24,955,000       23,676  
Wells Fargo & Co., Series K, 7.98%3
     23,667,000       25,028  
                 
                 
Total preferred stocks (cost: $149,127,000)
             190,689  
                 
                 
                 
           
Value
  
Warrants — 0.00%
  
Shares
       (000 )
                 
FINANCIALS — 0.00%
                
Washington Mutual, Inc., warrants, expire 20131,2
     3,071,428     $ —  
                 
                 
                 
Total warrants (cost: $11,770,000)
             —  
                 
                 
                 
   
Shares or
          
Convertible securities — 0.42%
  
principal amount
          
                 
CONSUMER DISCRETIONARY — 0.03%
                
Johnson Controls, Inc. 11.50% convertible preferred 2012, units1
     106,720       15,812  
                 
                 
FINANCIALS — 0.06%
                
American International Group, Inc. 8.50% convertible preferred 2011, units
     4,211,826       36,180  
Fannie Mae 5.375% convertible preferred 20322
     820       820  
Fannie Mae, Series 2008-1, 8.75% noncumulative convertible preferred2
     1,218,000       499  
              37,499  
                 
TELECOMMUNICATION SERVICES — 0.11%
                
Qwest Communications International Inc. 3.50% convertible debenture 2025
   $ 50,000,000       65,813  
                 
                 
MISCELLANEOUS — 0.22%
                
Other convertible securities in initial period of acquisition
             126,229  
                 
                 
Total convertible securities (cost: $643,465,000)
             245,353  
                 
                 
                 
                 
   
Principal amount
          
Bonds & notes — 1.95%
     (000 )        
                 
ENERGY — 0.02%
                
Apache Corp. 6.90% 2018
   $ 5,000       6,292  
Chevron Corp. 4.95% 2019
    5,000       5,823  
              12,115  
                 
MATERIALS — 0.06%
                
BHP Billiton Finance (USA) Ltd. 5.50% 2014
     5,865       6,605  
Dow Chemical Co. 8.55% 2019
     20,000       25,294  
Rio Tinto Finance (USA) Ltd. 9.00% 2019
     3,780       5,283  
              37,182  
                 
INDUSTRIALS — 0.18%
                
Burlington Northern Santa Fe Corp. 5.75% 2018
     10,000       11,620  
CSX Corp. 6.25% 2015
     5,000       5,858  
CSX Corp. 7.375% 2019
     5,215       6,558  
Honeywell International Inc. 5.00% 2019
     8,090       9,358  
Lockheed Martin Corp. 4.25% 2019
     5,025       5,488  
Norfolk Southern Corp. 5.75% 2018
     10,000       11,728  
PACCAR Inc, Series A, 6.875% 2014
     5,000       5,851  
Raytheon Co. 4.40% 2020
     6,055       6,755  
Union Pacific Corp. 5.125% 2014
     11,495       12,778  
Union Pacific Corp. 6.125% 2020
     10,000       12,084  
United Technologies Corp. 4.50% 2020  
     5,475       6,151  
Waste Management, Inc. 6.375% 2015
     10,000       11,738  
              105,967  
                 
CONSUMER DISCRETIONARY — 0.19%
                
Comcast Corp. 6.30% 2017
     15,120       17,866  
Hasbro, Inc. 6.125% 2014
     11,250       12,311  
Kohl’s Corp. 6.25% 2017
     7,500       8,977  
News America Inc. 6.90% 2019
     11,315       13,862  
Staples, Inc. 9.75% 2014  
     15,000       18,587  
Time Warner Cable Inc. 6.20% 2013
     2,845       3,207  
Time Warner Cable Inc. 8.25% 2019
     15,320       19,811  
Time Warner Inc. 5.875% 2016
     10,000       11,660  
Walt Disney Co. 5.50% 2019  
     5,000       5,976  
              112,257  
                 
CONSUMER STAPLES — 0.08%
                
Altria Group, Inc. 9.25% 2019
     10,000       13,426  
British American Tobacco International Finance PLC 9.50% 20184
     5,000       6,809  
Coca-Cola Co. 4.875% 2019
     5,000       5,753  
CVS Caremark Corp. 6.60% 2019  
     5,000       6,078  
Kraft Foods Inc. 2.625% 2013
     5,110       5,300  
Tesco PLC 5.50% 20174
     5,506       6,327  
              43,693  
                 
HEALTH CARE — 0.18%
                
Abbott Laboratories 5.125% 2019  
     7,500       8,659  
Aetna Inc. 5.75% 2011
     1,961       2,029  
Aetna Inc. 7.875% 2011
     865       890  
Boston Scientific Corp. 5.125% 2017
     4,265       4,314  
Cardinal Health, Inc. 5.80% 2016
     14,625       16,971  
Novartis Securities Investment Ltd. 5.125% 2019
     10,000       11,501  
Pfizer Inc 6.20% 2019
     10,000       12,333  
Roche Holdings Inc. 5.00% 20144
    10,000       11,195  
Roche Holdings Inc. 6.00% 20194
    10,000       12,107  
WellPoint, Inc. 5.875% 2017
     15,000       17,312  
WellPoint, Inc. 7.00% 2019
     7,200       8,782  
              106,093  
                 
FINANCIALS — 0.19%
                
Allstate Life Global Funding Trust, Series 2008-4, 5.375% 2013
     10,000       11,058  
Bank of America Corp. 5.625% 2020  
     12,500       13,234  
Boston Properties, Inc. 5.875% 2019  
     5,000       5,596  
Citigroup Inc. 4.75% 2015
     2,500       2,633  
Citigroup Inc. 6.125% 2017
     10,000       10,939  
JPMorgan Chase & Co. 6.00% 2018
     5,000       5,719  
MetLife Global Funding 5.125% 20144
     7,000       7,772  
Metropolitan Life Global Funding I, 5.125% 20134
     3,335       3,632  
National City Corp. 5.80% 2017  
     1,350       1,493  
National City Corp. 6.875% 2019
     3,050       3,584  
Northern Trust Corp. 4.625% 2014  
     5,650       6,270  
PNC Funding Corp. 0.675% 20143
     10,000       9,798  
Simon Property Group, LP 4.20% 2015
     2,600       2,793  
Simon Property Group, LP 5.25% 2016
     5,875       6,576  
Simon Property Group, LP 6.10% 2016
     1,625       1,890  
Simon Property Group, LP 6.75% 2014
     3,000       3,452  
SLM Corp., Series A, 5.00% 2013
     3,005       2,947  
SLM Corp., Series A, 5.125% 2012
     1,000       1,011  
SLM Corp., Series A, 5.375% 2013
     1,905       1,922  
Unum Group 5.625% 2020  
     825       849  
Wachovia Capital Trust III 5.80% (undated)3
     5,525       4,903  
              108,071  
                 
INFORMATION TECHNOLOGY — 0.02%
                
Cisco Systems, Inc. 4.95% 2019
     10,000       11,460  
                 
                 
TELECOMMUNICATION SERVICES — 0.07%
                
AT&T Inc. 4.85% 2014
    10,000       11,083  
AT&T Inc. 5.50% 2018
     10,000       11,617  
Verizon Communications Inc. 5.55% 2014
     10,000       11,317  
Vodafone Group PLC 5.625% 2017
     7,500       8,594  
              42,611  
                 
UTILITIES — 0.02%
                
Jersey Central Power & Light Co. 4.80% 2018
     4,000       4,212  
PG&E Corp. 5.75% 2014
     8,000       9,003  
              13,215  
                 
MORTGAGE-BACKED OBLIGATIONS5 — 0.48%
                
Fannie Mae 3.50% 2025   
     36,000       37,147  
Fannie Mae 4.00% 2024   
     13,047       13,643  
Fannie Mae 4.00% 2024   
     17,197       17,982  
Fannie Mae 4.00% 2025   
     13,737       14,390  
Fannie Mae 4.50% 2040   
     14,261       14,874  
Fannie Mae 6.00% 2037   
     63,868       68,728  
Fannie Mae 6.00% 2038   
     6,904       7,418  
Freddie Mac 5.00% 2038   
     21,996       23,106  
Freddie Mac 5.50% 2038   
     45,373       48,142  
Government National Mortgage Assn. 3.50% 2039   
     977       988  
Government National Mortgage Assn. 3.50% 2039   
     1,610       1,628  
Government National Mortgage Assn. 3.50% 2039   
     1,638       1,657  
Government National Mortgage Assn. 3.50% 2039   
     11,215       11,346  
Government National Mortgage Assn. 4.00% 2039   
     3,963       4,107  
Government National Mortgage Assn. 4.00% 2040   
     3,974       4,118  
Government National Mortgage Assn. 4.00% 2040   
     3,994       4,139  
Government National Mortgage Assn. 4.00% 2040   
     3,994       4,139  
Government National Mortgage Assn. 4.00% 2040   
     3,995       4,139  
              281,691  
                 
BONDS & NOTES OF U.S. GOVERNMENT & GOVERNMENT AGENCIES — 0.46%
                
Fannie Mae 1.00% 2013
     8,000       8,020  
Federal Home Loan Bank 0.50% 2011
     23,140       23,166  
Federal Home Loan Bank 3.625% 2013
     50,000       54,192  
Freddie Mac 2.125% 2012
     10,000       10,299  
U.S. Treasury 1.125% 2011
     10,000       10,098  
U.S. Treasury 1.50% 2013
     5,000       5,125  
U.S. Treasury 1.875% 2014
     10,000       10,369  
U.S. Treasury 2.25% 2014
     5,000       5,255  
U.S. Treasury 2.625% 2020
     2,000       2,019  
U.S. Treasury 3.25% 2017
     15,000       16,358  
U.S. Treasury 3.50% 2039
     10,000       9,678  
U.S. Treasury 3.625% 2020
     5,000       5,485  
U.S. Treasury 3.875% 2013
     10,000       10,811  
U.S. Treasury 4.00% 2018
     10,000       11,374  
U.S. Treasury 4.125% 2015
     10,000       11,337  
U.S. Treasury 4.25% 2012
     13,500       14,532  
U.S. Treasury 4.25% 2013
     15,000       16,570  
U.S. Treasury 4.50% 2039
     10,000       11,453  
U.S. Treasury 8.00% 2021
     20,000       30,177  
              266,318  
                 
Total bonds & notes (cost: $1,026,348,000)
             1,140,673  
                 
                 
                 
Short-term securities — 4.83%
                
                 
Abbott Laboratories 0.20% due 11/1/20104
     29,800       29,794  
Bank of America Corp. 0.28% due 11/29/2010
     12,000       11,995  
Coca-Cola Co. 0.22%–0.24% due 11/2–12/10/20104
    72,400       72,372  
Edison Asset Securitization LLC 0.31% due 11/3/20104
     50,000       49,989  
Emerson Electric Co. 0.20% due 10/19/20104
     15,400       15,398  
Fannie Mae 0.15%–0.49% due 10/1/2010–8/1/2011
     933,900       933,538  
Federal Home Loan Bank 0.17%–0.45% due 10/8/2010–6/10/2011
     176,000       175,890  
Freddie Mac 0.165%–0.42% due 11/18/2010–5/25/2011
     595,135       594,678  
General Electric Capital Services, Inc. 0.25% due 10/22–10/27/2010
     96,500       96,486  
Jupiter Securitization Co., LLC 0.31% due 11/4/20104
     50,000       49,985  
Medtronic Inc. 0.22% due 11/12/20104
     25,000       24,992  
PepsiCo Inc. 0.20%–0.21% due 11/1–11/9/20104
    44,000       43,991  
Procter & Gamble Co. 0.26% due 12/2/20104
     25,000       24,991  
Straight-A Funding LLC 0.22%–0.27% due 10/13–12/7/20104
    546,889       546,708  
U.S. Treasury Bills 0.153%–0.19% due 11/26–12/9/2010
     100,100       100,075  
Wal-Mart Stores Inc. 0.18%–0.21% due 10/4–10/19/20104
     57,200       57,197  
                 
                 
Total short-term securities (cost: $2,827,685,000)
             2,828,079  
                 
Total investment securities (cost: $50,730,344,000)
             58,194,669  
Other assets less liabilities
             349,193  
                 
Net assets
           $ 58,543,862  

“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 trustees. The total value of all such securities, including those in "Miscellaneous," was $4,945,575,000, which represented 8.45% of the net assets of the fund. This amount includes $4,929,763,000 related 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.
2Security did not produce income during the last 12 months.
3Coupon rate may change periodically.
4Acquired 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 $1,037,672,000, which represented 1.77% of the net assets of the fund.
5Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.


Valuation disclosures

The fund’s investments are reported at fair value as defined by accounting principles generally accepted in the United States of America. The fund generally determines its net asset value 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. Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates in effect on the valuation date.

Methods and inputs – The fund uses the following methods and inputs to establish the fair value of its 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 in which the security trades.

Fixed-income securities, including short-term securities purchased with more than 60 days left to maturity, are generally valued at prices obtained as of approximately 3:00 p.m. New York time 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

 
Where the investment adviser deems it appropriate to do so (such as when vendor prices are unavailable or not deemed to be representative), fixed-income securities will be valued in good faith at the mean quoted bid and asked prices that are reasonably and timely available (or bid prices, if asked 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 above for either equity or fixed-income securities, depending on which method is deemed most appropriate by the investment adviser. Short-term securities purchased within 60 days to maturity are valued at amortized cost, which approximates fair value. The value of short-term securities originally purchased with maturities greater than 60 days is determined based on an amortized value to par when they reach 60 days.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the investment adviser are fair valued as determined in good faith under guidelines adopted by authority of the fund’s board of trustees. Market quotations may be considered unreliable if events occur that materially affect the value of securities (particularly equity securities trading outside the U.S.) between the close of trading in those securities and the close of regular trading on the New York Stock Exchange. Various inputs may be reviewed in order to make a good faith determination of a security’s fair value. These inputs include, but are not limited to, the type and cost of the security; contractual or legal restrictions on resale of the security; relevant financial or business developments of the iss uer; 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. 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.


Classifications — The fund classifies its 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. 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 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 September 30, 2010 (dollars in thousands):

Investment securities:
  
Level 1
    
Level 2
    
Level 3
    
Total
  
                         
Common stocks:
                        
    Energy
   $ 5,260,110     $ 558,355 *   $ —     $ 5,818,465  
    Materials
     1,422,002       357,465 *     —       1,779,467  
    Industrials
     5,701,954       366,478 *     —       6,068,432  
    Consumer discretionary
    5,024,603       532,229 *     —       5,556,832  
    Consumer staples
     6,514,504       —       —       6,514,504  
    Health care
     3,947,934       208,314 *     —       4,156,248  
    Financials
     3,372,054       1,207,453 *     —       4,579,507  
    Information technology
     12,206,180       819,568 *     —       13,025,748  
    Telecommunication services
    3,105,474       134,588 *     —       3,240,062  
    Utilities
     1,433,244       583,089 *     —       2,016,333  
    Miscellaneous
     872,053       162,224 *     —       1,034,277  
Preferred stocks
     —       190,689       —       190,689  
Convertible securities
     98,304       147,049       —       245,353  
Bonds & notes
     —       1,140,673       —       1,140,673  
Short-term securities
     —       2,828,079       —       2,828,079  
Total
   $ 48,958,416     $ 9,236,253     $ —     $ 58,194,669  
                                 
*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, $4,929,763,000 of investment securities were classified as Level 2 instead of Level 1.
  

 

Federal income tax information
  
(dollars in thousands)
  
       
Gross unrealized appreciation on investment securities
   $ 12,458,422  
Gross unrealized depreciation on investment securities
     (4,976,564 )
Net unrealized appreciation on investment securities
     7,481,858  
Cost of investment securities for federal income tax purposes
     50,712,811  
 

 
Key to abbreviation

ADR = American Depositary Receipts




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 the investment objectives, risks, charges and expenses of the American Funds. This and other important information is contained in the fund’s summary prospectus and 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 800/421-0180 or visit the American Funds website at americanfunds.com.
 
 
 
 
MFGEFP-904-1110O-S25532
 
 
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, Vice Chairman and
Principal Executive Officer
   
 
Date: November 26, 2010



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, Vice Chairman and
Principal Executive Officer
 
Date: November 26, 2010



By /s/ Brian D. Bullard
Brian D. Bullard, Treasurer and
Principal Financial Officer
 
Date: November 26, 2010
 
 EX-99.CERT 2 ica_cert302.htm CERT302 ica_cert302.htm
 
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 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: November 26, 2010

/s/ James B. Lovelace
James B. Lovelace, Vice Chairman and
Principal Executive Officer
The Investment Company of America

 
 
 

The Investment Company of America
333 South Hope Street
Los Angeles, California 90071
Phone (213) 486-9200


CERTIFICATION

I, Brian D. Bullard, 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 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: November 26, 2010

/s/ Brian D. Bullard
Brian D. Bullard, Treasurer and
Principal Financial Officer
The Investment Company of America
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