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Here are the average annual total returns on a $1,000 investment with all distributions reinvested for periods ended June 30, 2012:
|
||||||||||||
1 year
|
5 years
|
10 years
|
||||||||||
Class A shares
|
||||||||||||
Reflecting 5.75% maximum sales charge
|
–3.40 | % | –1.97 | % | 4.48 | % |
Results at a glance
|
||||||||||||
For the six months ended June 30, 2012, with dividends reinvested
|
||||||||||||
Standard &
|
Lipper
|
|||||||||||
ICA
|
Poor’s 500
|
Growth & Income
|
||||||||||
(Class A shares)
|
Composite Index*
|
Funds Index
|
||||||||||
Income return
|
0.96 | % | 1.16 | % | n/a | |||||||
Capital return
|
7.42 | % | 8.32 | % | n/a | |||||||
Total return
|
8.38 | % | 9.48 | % | 7.89 | % | ||||||
*The S&P 500 is unmanaged and, therefore, has no expenses.
|
Average annual total returns for periods ended June 30, 2012:
|
||||||||||||
10 years/
|
||||||||||||
1 year
|
5 years
|
Life of class1
|
||||||||||
Class B shares2
|
||||||||||||
Reflecting applicable contingent deferred sales charge
|
||||||||||||
(CDSC), maximum of 5%, payable only if shares are
|
||||||||||||
sold within six years of purchase
|
–3.30 | % | –1.91 | % | 4.44 | % | ||||||
Not reflecting CDSC
|
1.70 | –1.56 | 4.44 | |||||||||
Class C shares
|
||||||||||||
Reflecting CDSC, maximum of 1%, payable only if shares
|
||||||||||||
are sold within one year of purchase
|
0.67 | –1.60 | 4.23 | |||||||||
Not reflecting CDSC
|
1.67 | –1.60 | 4.23 | |||||||||
Class F-1 shares3
|
||||||||||||
Not reflecting annual asset-based fee charged by
|
||||||||||||
sponsoring firm
|
2.46 | –0.83 | 5.04 | |||||||||
Class F-2 shares3 — first sold 8/1/08
|
||||||||||||
Not reflecting annual asset-based fee charged by
|
||||||||||||
sponsoring firm
|
2.73 | — | 3.14 | |||||||||
Class 529-A shares4
|
||||||||||||
Reflecting 5.75% maximum sales charge
|
–3.49 | –2.04 | 4.39 | |||||||||
Not reflecting maximum sales charge
|
2.40 | –0.87 | 5.01 | |||||||||
Class 529-B shares2,4
|
||||||||||||
Reflecting applicable CDSC, maximum of 5%, payable
|
||||||||||||
only if shares are sold within six years of purchase
|
–3.42 | –2.02 | 4.30 | |||||||||
Not reflecting CDSC
|
1.58 | –1.67 | 4.30 | |||||||||
Class 529-C shares4
|
||||||||||||
Reflecting CDSC, maximum of 1%, payable only if shares
|
||||||||||||
are sold within one year of purchase
|
0.57 | –1.66 | 4.15 | |||||||||
Not reflecting CDSC
|
1.57 | –1.66 | 4.15 | |||||||||
Class 529-E shares3,4
|
2.15 | –1.16 | 4.68 | |||||||||
Class 529-F-1 shares3,4 — first sold 9/16/02
|
||||||||||||
Not reflecting annual asset-based fee charged by
|
||||||||||||
sponsoring firm
|
2.63 | –0.67 | 6.12 |
Percent
|
||||
of net
|
||||
Industry sector diversification
|
assets
|
|||
Information technology
|
14.13 | % | ||
Energy
|
12.76 | |||
Consumer discretionary
|
12.47 | |||
Consumer staples
|
11.62 | |||
Industrials
|
11.36 | |||
Other industries
|
28.24 | |||
Other securities
|
1.82 | |||
Short-term securities & other assets less liabilities
|
7.60 |
|
Percent
|
|||||||||||
Value
|
of net
|
|||||||||||
Common stocks - 90.58%
|
Shares
|
(000 | ) |
assets
|
||||||||
Energy - 12.76%
|
||||||||||||
Apache Corp.
|
4,310,000 | $ | 378,806 | .67 | % | |||||||
Baker Hughes Inc.
|
11,915,000 | 489,706 | .87 | |||||||||
BP PLC (1)
|
128,484,340 | 860,866 | ||||||||||
BP PLC (ADR)
|
3,676,953 | 149,064 | 1.79 | |||||||||
Chevron Corp.
|
9,480,000 | 1,000,140 | 1.77 | |||||||||
ConocoPhillips
|
10,675,000 | 596,519 | 1.06 | |||||||||
EOG Resources, Inc.
|
4,232,200 | 381,364 | .67 | |||||||||
Royal Dutch Shell PLC, Class A (ADR)
|
15,357,000 | 1,035,523 | ||||||||||
Royal Dutch Shell PLC, Class B (1)
|
12,365,265 | 431,550 | ||||||||||
Royal Dutch Shell PLC, Class B (ADR)
|
2,975,498 | 208,077 | 2.96 | |||||||||
Schlumberger Ltd.
|
15,674,999 | 1,017,464 | 1.80 | |||||||||
Other securities
|
659,428 | 1.17 | ||||||||||
7,208,507 | 12.76 | |||||||||||
Materials - 3.87%
|
||||||||||||
Dow Chemical Co.
|
42,502,000 | 1,338,813 | 2.37 | |||||||||
Other securities
|
848,664 | 1.50 | ||||||||||
2,187,477 | 3.87 | |||||||||||
Industrials - 11.36%
|
||||||||||||
CSX Corp.
|
31,422,748 | 702,613 | 1.24 | |||||||||
General Dynamics Corp.
|
13,059,800 | 861,424 | 1.53 | |||||||||
General Electric Co.
|
27,725,000 | 577,789 | 1.02 | |||||||||
Union Pacific Corp.
|
6,386,900 | 762,021 | 1.35 | |||||||||
United Parcel Service, Inc., Class B
|
4,750,000 | 374,110 | .66 | |||||||||
United Technologies Corp.
|
7,561,852 | 571,147 | 1.01 | |||||||||
Other securities
|
2,572,099 | 4.55 | ||||||||||
6,421,203 | 11.36 | |||||||||||
Consumer discretionary - 12.47%
|
||||||||||||
Amazon.com, Inc. (2)
|
3,100,000 | 707,885 | 1.26 | |||||||||
Comcast Corp., Class A
|
28,838,400 | 921,964 | ||||||||||
Comcast Corp., Class A, special nonvoting shares
|
7,000,000 | 219,800 | 2.02 | |||||||||
General Motors Co. (2)
|
35,490,500 | 699,873 | 1.24 | |||||||||
Home Depot, Inc.
|
25,700,000 | 1,361,843 | 2.41 | |||||||||
News Corp., Class A
|
31,725,000 | 707,150 | 1.25 | |||||||||
Time Warner Cable Inc.
|
4,812,727 | 395,125 | .70 | |||||||||
Time Warner Inc.
|
11,624,000 | 447,524 | .79 | |||||||||
Other securities
|
1,583,617 | 2.80 | ||||||||||
7,044,781 | 12.47 | |||||||||||
Consumer staples - 11.62%
|
||||||||||||
Altria Group, Inc.
|
30,125,000 | 1,040,819 | 1.84 | |||||||||
Coca-Cola Co.
|
6,803,300 | 531,950 | .94 | |||||||||
CVS/Caremark Corp.
|
11,000,000 | 514,030 | .91 | |||||||||
Kraft Foods Inc., Class A
|
18,374,168 | 709,610 | 1.26 | |||||||||
PepsiCo, Inc.
|
6,097,500 | 430,849 | .76 | |||||||||
Philip Morris International Inc.
|
27,991,072 | 2,442,501 | 4.32 | |||||||||
Other securities
|
895,187 | 1.59 | ||||||||||
6,564,946 | 11.62 | |||||||||||
Health care - 7.95%
|
||||||||||||
Abbott Laboratories
|
18,685,000 | 1,204,622 | 2.13 | |||||||||
Amgen Inc.
|
14,290,000 | 1,043,742 | 1.85 | |||||||||
Gilead Sciences, Inc. (2)
|
10,930,000 | 560,490 | .99 | |||||||||
Other securities
|
1,683,707 | 2.98 | ||||||||||
4,492,561 | 7.95 | |||||||||||
Financials - 5.70%
|
||||||||||||
Aon PLC, Class A
|
8,975,000 | 419,850 | .74 | |||||||||
Citigroup Inc.
|
20,110,455 | 551,228 | .98 | |||||||||
JPMorgan Chase & Co.
|
19,155,000 | 684,408 | 1.21 | |||||||||
Other securities
|
1,567,133 | 2.77 | ||||||||||
3,222,619 | 5.70 | |||||||||||
Information technology - 14.13%
|
||||||||||||
Apple Inc. (2)
|
2,155,000 | 1,258,520 | 2.23 | |||||||||
Intel Corp.
|
21,254,700 | 566,438 | 1.00 | |||||||||
Microsoft Corp.
|
52,650,500 | 1,610,579 | 2.85 | |||||||||
Oracle Corp.
|
33,385,000 | 991,535 | 1.75 | |||||||||
Samsung Electronics Co. Ltd. (1)
|
375,500 | 398,114 | .70 | |||||||||
Texas Instruments Inc.
|
22,825,000 | 654,849 | 1.16 | |||||||||
Other securities
|
2,506,579 | 4.44 | ||||||||||
7,986,614 | 14.13 | |||||||||||
Telecommunication services - 5.46%
|
||||||||||||
AT&T Inc.
|
49,300,000 | 1,758,038 | 3.11 | |||||||||
Sprint Nextel Corp., Series 1 (2)
|
143,380,000 | 467,419 | .83 | |||||||||
Verizon Communications Inc.
|
13,944,600 | 619,698 | 1.10 | |||||||||
Other securities
|
240,731 | .42 | ||||||||||
3,085,886 | 5.46 | |||||||||||
Utilities - 3.20%
|
||||||||||||
Dominion Resources, Inc.
|
9,403,824 | 507,806 | .90 | |||||||||
GDF SUEZ (1)
|
18,639,655 | 444,722 | .78 | |||||||||
Other securities
|
857,582 | 1.52 | ||||||||||
1,810,110 | 3.20 | |||||||||||
Miscellaneous - 2.06%
|
||||||||||||
Other common stocks in initial period of acquisition
|
1,162,571 | 2.06 | ||||||||||
Total common stocks (cost: $38,608,150,000)
|
51,187,275 | 90.58 | ||||||||||
Percent
|
||||||||||||
Value
|
of net
|
|||||||||||
Warrants - 0.00%
|
(000 | ) |
assets
|
|||||||||
Financials - 0.00%
|
||||||||||||
Other securities
|
- | .00 | ||||||||||
Total warrants (cost: $11,770,000)
|
- | .00 | ||||||||||
Percent
|
||||||||||||
Value
|
of net
|
|||||||||||
Convertible securities - 0.59%
|
Shares
|
(000 | ) |
assets
|
||||||||
Consumer discretionary - 0.50%
|
||||||||||||
General Motors Co., Series B, 4.75% convertible preferred 2013
|
8,611,850 | 285,913 | .50 | |||||||||
Materials - 0.09%
|
||||||||||||
Other securities
|
50,079 | .09 | ||||||||||
Total convertible securities (cost: $462,252,000)
|
335,992 | .59 | ||||||||||
Principal
|
Percent
|
|||||||||||
amount
|
Value
|
of net
|
||||||||||
Bonds & notes - 1.23%
|
(000 | ) | (000 | ) |
assets
|
|||||||
Energy - 0.01%
|
||||||||||||
Chevron Corp. 4.95% 2019
|
$ | 5,000 | 6,038 | .01 | ||||||||
Materials - 0.01%
|
||||||||||||
Dow Chemical Co. 4.125% 2021
|
500 | 538 | .00 | |||||||||
Other securities
|
5,178 | .01 | ||||||||||
5,716 | .01 | |||||||||||
Industrials - 0.06%
|
||||||||||||
CSX Corp. 6.25% 2015
|
5,000 | 5,701 | .01 | |||||||||
Union Pacific Corp. 6.125% 2020
|
5,000 | 6,187 | .01 | |||||||||
United Technologies Corp. 4.50% 2020
|
5,475 | 6,360 | .01 | |||||||||
Other securities
|
17,734 | .03 | ||||||||||
35,982 | .06 | |||||||||||
Consumer discretionary - 0.03%
|
||||||||||||
Comcast Corp. 6.30% 2017
|
5,120 | 6,166 | .01 | |||||||||
News America Inc. 6.90% 2019
|
5,000 | 6,160 | .01 | |||||||||
Other securities
|
4,206 | .01 | ||||||||||
16,532 | .03 | |||||||||||
Consumer staples - 0.03%
|
||||||||||||
Kraft Foods Inc. 2.625% 2013
|
2,555 | 2,594 | .01 | |||||||||
Other securities
|
12,361 | .02 | ||||||||||
14,955 | .03 | |||||||||||
Financials - 0.22%
|
||||||||||||
JPMorgan Chase & Co., Series I, junior subordinated 7.90% (undated) (3)
|
62,936 | 69,236 | .12 | |||||||||
Other securities
|
55,278 | .10 | ||||||||||
124,514 | .22 | |||||||||||
Telecommunication services - 0.41%
|
||||||||||||
AT&T Inc. 4.85% 2014
|
5,000 | 5,329 | .01 | |||||||||
Sprint Capital Corp. 6.90% 2019
|
17,200 | 16,254 | ||||||||||
Sprint Nextel Corp. 8.375%-11.50% 2017-2021 (4)
|
190,475 | 206,971 | .40 | |||||||||
Other securities
|
2,344 | .00 | ||||||||||
230,898 | .41 | |||||||||||
Mortgage-backed obligations (5) - 0.10%
|
||||||||||||
Fannie Mae 3.00%-6.00% 2025-2042
|
52,023 | 56,493 | .10 | |||||||||
Bonds & notes of U.S. government & government agencies - 0.32%
|
||||||||||||
Federal Home Loan Bank 3.625% 2013
|
50,000 | 52,159 | .09 | |||||||||
Freddie Mac 2.125%-5.00% 2012-2014
|
20,000 | 20,975 | .04 | |||||||||
U.S. Treasury 0.125%-8.00% 2014-2022 (6)
|
87,718 | 106,069 | .19 | |||||||||
179,203 | .32 | |||||||||||
Other - 0.04%
|
||||||||||||
Other securities
|
23,042 | .04 | ||||||||||
Total bonds & notes (cost: $636,515,000)
|
693,373 | 1.23 | ||||||||||
Principal
|
Percent
|
|||||||||||
amount
|
Value
|
of net
|
||||||||||
Short-term securities - 7.32%
|
(000 | ) | (000 | ) |
assets
|
|||||||
Abbott Laboratories 0.14%-0.16% due 7/31-9/10/2012 (4)
|
$ | 117,200 | 117,178 | .21 | ||||||||
Chariot Funding, LLC 0.18% due 7/19/2012 (4)
|
50,000 | 49,995 | .09 | |||||||||
Coca-Cola Co. 0.17%-0.23% due 8/22-10/15/2012 (4)
|
83,800 | 83,770 | .15 | |||||||||
Fannie Mae 0.07%-0.23% due 7/16/2012-1/7/2013
|
1,053,707 | 1,053,281 | 1.86 | |||||||||
Federal Home Loan Bank 0.10%-0.21% due 7/13/2012-6/14/2013
|
646,162 | 645,723 | 1.14 | |||||||||
Freddie Mac 0.07%-0.18% due 7/11/2012-1/23/2013
|
719,442 | 719,155 | 1.27 | |||||||||
U.S. Treasury Bills 0.082%-0.147% due 7/19-10/25/2012
|
682,800 | 682,729 | 1.21 | |||||||||
Other securities
|
786,942 | 1.39 | ||||||||||
Total short-term securities (cost: $4,138,728,000)
|
4,138,773 | 7.32 | ||||||||||
Total investment securities (cost: $43,857,415,000)
|
56,355,413 | 99.72 | ||||||||||
Other assets less liabilities
|
157,521 | .28 | ||||||||||
Net assets
|
$ | 56,512,934 | 100.00 | % |
As permitted by U.S. Securities and Exchange Commission ("SEC") regulations, "Miscellaneous" securities include holdings in their first year of acquisition that have not previously been publicly disclosed.
|
||||||||||||
"Other securities" includes all issues that are not disclosed separately in the summary investment portfolio.
|
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. The value of the fund's holdings in affiliated companies is included in "Other securities" under the respective industry sectors in the summary investment portfolio. Further details on these holdings and related transactions during the six months ended June 30, 2012, appear below.
|
Beginning
shares
|
Additions
|
Reductions
|
Ending
shares
|
Dividend
income
(000)
|
Value of
affiliates at 6/30/2012 (000)
|
|||||||||||||||||||
Masco Corp.
|
23,258,069 | - | - | 23,258,069 | $ | 3,489 | $ | 322,589 | ||||||||||||||||
R.R. Donnelley & Sons Co.
|
8,935,000 | 1,200,000 | - | 10,135,000 | 5,159 | 119,289 | ||||||||||||||||||
$ | 8,648 | $ | 441,878 |
The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.
|
||||||||||||
(1) Valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities, including those in "Miscellaneous" and "Other securities," was $3,937,581,000, which represented 6.97% 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.
|
||||||||||||
(2) Security did not produce income during the last 12 months.
|
||||||||||||
(3) Coupon rate may change periodically.
|
||||||||||||
(4) Acquired in a transaction exempt from registration under Rule 144A or 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, including those in "Other securities," was $803,809,000, which represented 1.42% of the net assets of the fund.
|
||||||||||||
(5) Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.
|
||||||||||||
(6) Index-linked bond whose principal amount moves with a government price index.
|
||||||||||||
Key to abbreviation
|
||||||||||||
ADR = American Depositary Receipts
|
||||||||||||
See Notes to Financial Statements
|
Statement of assets and liabilities
|
unaudited
|
|||||||
at June 30, 2012
|
(dollars in thousands) | |||||||
Assets:
|
||||||||
Investment securities, at value:
|
||||||||
Unaffiliated issuers (cost: $43,451,487)
|
$ | 55,913,535 | ||||||
Affiliated issuers (cost: $405,928)
|
441,878 | $ | 56,355,413 | |||||
Cash
|
15,094 | |||||||
Receivables for:
|
||||||||
Sales of investments
|
215,642 | |||||||
Sales of fund's shares
|
27,080 | |||||||
Dividends and interest
|
116,017 | 358,739 | ||||||
56,729,246 | ||||||||
Liabilities:
|
||||||||
Payables for:
|
||||||||
Purchases of investments
|
111,208 | |||||||
Repurchases of fund's shares
|
66,966 | |||||||
Investment advisory services
|
10,972 | |||||||
Services provided by related parties
|
20,669 | |||||||
Trustees' deferred compensation
|
5,944 | |||||||
Other
|
553 | 216,312 | ||||||
Net assets at June 30, 2012
|
$ | 56,512,934 | ||||||
Net assets consist of:
|
||||||||
Capital paid in on shares of beneficial interest
|
$ | 44,398,738 | ||||||
Undistributed net investment income
|
379,015 | |||||||
Accumulated net realized loss
|
(762,580 | ) | ||||||
Net unrealized appreciation
|
12,497,761 | |||||||
Net assets at June 30, 2012
|
$ | 56,512,934 |
(dollars and shares in thousands, except per-share amounts)
|
||||||||||||
Shares of beneficial interest issued and outstanding (no stated par value) -
|
||||||||||||
unlimited shares authorized (1,943,004 total shares outstanding)
|
||||||||||||
Net assets
|
Shares
outstanding
|
Net asset value
per share
|
||||||||||
Class A
|
$ | 44,155,547 | 1,517,416 | $ | 29.10 | |||||||
Class B
|
668,893 | 23,064 | 29.00 | |||||||||
Class C
|
1,700,465 | 58,829 | 28.91 | |||||||||
Class F-1
|
1,856,181 | 63,885 | 29.06 | |||||||||
Class F-2
|
631,156 | 21,694 | 29.09 | |||||||||
Class 529-A
|
1,493,920 | 51,412 | 29.06 | |||||||||
Class 529-B
|
96,105 | 3,312 | 29.01 | |||||||||
Class 529-C
|
362,568 | 12,505 | 28.99 | |||||||||
Class 529-E
|
59,321 | 2,045 | 29.00 | |||||||||
Class 529-F-1
|
34,109 | 1,175 | 29.04 | |||||||||
Class R-1
|
79,107 | 2,732 | 28.96 | |||||||||
Class R-2
|
585,096 | 20,187 | 28.98 | |||||||||
Class R-3
|
764,827 | 26,342 | 29.03 | |||||||||
Class R-4
|
682,654 | 23,497 | 29.05 | |||||||||
Class R-5
|
726,284 | 24,967 | 29.09 | |||||||||
Class R-6
|
2,616,701 | 89,942 | 29.09 | |||||||||
See Notes to Financial Statements
|
Statement of operations
|
unaudited
|
|||||||
for the six months ended June 30, 2012
|
(dollars in thousands) | |||||||
Investment income:
|
||||||||
Income:
|
||||||||
Dividends (net of non-U.S. taxes of $14,764;
|
||||||||
also includes $8,648 from affiliates)
|
$ | 749,422 | ||||||
Interest
|
23,258 | $ | 772,680 | |||||
Fees and expenses*:
|
||||||||
Investment advisory services
|
68,894 | |||||||
Distribution services
|
75,711 | |||||||
Transfer agent services
|
37,119 | |||||||
Administrative services
|
5,164 | |||||||
Reports to shareholders
|
1,677 | |||||||
Registration statement and prospectus
|
419 | |||||||
Trustees' compensation
|
500 | |||||||
Auditing and legal
|
38 | |||||||
Custodian
|
395 | |||||||
State and local taxes
|
287 | |||||||
Other
|
1,164 | 191,368 | ||||||
Net investment income
|
581,312 | |||||||
Net realized loss and unrealized appreciation
|
||||||||
on investments and currency:
|
||||||||
Net realized loss on:
|
||||||||
Investments
|
(276,591 | ) | ||||||
Currency transactions
|
(3,061 | ) | (279,652 | ) | ||||
Net unrealized appreciation on:
|
||||||||
Investments
|
4,247,541 | |||||||
Currency translations
|
27 | 4,247,568 | ||||||
Net realized loss and unrealized appreciation
|
||||||||
on investments and currency
|
3,967,916 | |||||||
Net increase in net assets resulting from operations
|
$ | 4,549,228 | ||||||
(*) Additional information related to class-specific fees and expenses is included
|
||||||||
in the Notes to Financial Statements.
|
||||||||
See Notes to Financial Statements
|
||||||||
Statements of changes in net assets
|
||||||||
(dollars in thousands) | ||||||||
Six months
|
Year ended
|
|||||||
ended June 30,
|
December 31,
|
|||||||
2012† | 2011 | |||||||
Operations:
|
||||||||
Net investment income
|
$ | 581,312 | $ | 1,184,346 | ||||
Net realized (loss) gain on investments and currency transactions
|
(279,652 | ) | 1,354,309 | |||||
Net unrealized appreciation (depreciation) on investments and currency translations
|
4,247,568 | (3,588,402 | ) | |||||
Net increase (decrease) in net assets resulting from operations
|
4,549,228 | (1,049,747 | ) | |||||
Dividends paid to shareholders from net investment income
|
(499,446 | ) | (1,183,860 | ) | ||||
Net capital share transactions
|
(2,292,842 | ) | (5,098,241 | ) | ||||
Total increase (decrease) in net assets
|
1,756,940 | (7,331,848 | ) | |||||
Net assets:
|
||||||||
Beginning of period
|
54,755,994 | 62,087,842 | ||||||
End of period (including undistributed
|
||||||||
net investment income: $379,015 and $297,149, respectively)
|
$ | 56,512,934 | $ | 54,755,994 | ||||
†Unaudited.
|
||||||||
See Notes to Financial Statements
|
1.
|
Organization
|
Share class
|
Initial sales charge
|
Contingent deferred sales charge upon redemption
|
Conversion feature
|
Classes A and 529-A
|
Up to 5.75%
|
None (except 1% for certain redemptions within one year of purchase without an initial sales charge)
|
None
|
Classes B and 529-B*
|
None
|
Declines from 5% to 0% for redemptions within six years of purchase
|
Classes B and 529-B convert to Classes A and 529-A, respectively, after eight years
|
Class C
|
None
|
1% for redemptions within one year of purchase
|
Class C converts to Class F-1 after 10 years
|
Class 529-C
|
None
|
1% for redemptions within one year of purchase
|
None
|
Class 529-E
|
None
|
None
|
None
|
Classes F-1, F-2 and 529-F-1
|
None
|
None
|
None
|
Classes R-1, R-2, R-3, R-4, R-5 and R-6
|
None
|
None
|
None
|
2.
|
Significant accounting policies
|
3.
|
Valuation
|
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
|
Investment securities
|
|||||||||||||||||
Level 1
|
Level 2(*)
|
Level 3
|
Total
|
||||||||||||||
Assets:
|
|||||||||||||||||
Common stocks:
|
|||||||||||||||||
Energy
|
$ | 5,723,125 | $ | 1,485,382 | $ | - | $ | 7,208,507 | |||||||||
Materials
|
2,027,572 | 159,905 | - | 2,187,477 | |||||||||||||
Industrials
|
6,281,657 | 139,546 | - | 6,421,203 | |||||||||||||
Consumer discretionary
|
6,908,247 | 136,534 | - | 7,044,781 | |||||||||||||
Consumer staples
|
6,564,946 | - | - | 6,564,946 | |||||||||||||
Health care
|
4,178,179 | 314,382 | - | 4,492,561 | |||||||||||||
Financials
|
2,996,550 | 226,069 | - | 3,222,619 | |||||||||||||
Information technology
|
7,491,420 | 495,194 | - | 7,986,614 | |||||||||||||
Telecommunication services
|
3,085,886 | - | - | 3,085,886 | |||||||||||||
Utilities
|
1,365,388 | 444,722 | - | 1,810,110 | |||||||||||||
Miscellaneous
|
626,724 | 535,847 | - | 1,162,571 | |||||||||||||
Convertible securities
|
285,913 | 50,079 | - | 335,992 | |||||||||||||
Bonds & notes
|
- | 693,373 | - | 693,373 | |||||||||||||
Short-term securities
|
- | 4,138,773 | - | 4,138,773 | |||||||||||||
Total
|
$ | 47,535,607 | $ | 8,819,806 | $ | - | $ | 56,355,413 | |||||||||
(*) Securities with a market value of $3,046,758,000, which represented 5.39% of the net assets of the fund, transferred from Level 1 to Level 2 since the prior fiscal year-end, primarily due to significant market movements following the close of local trading.
|
4.
|
Risk factors
|
5.
|
Taxation and distributions
|
(dollars in thousands) | ||||
Undistributed ordinary income
|
$ | 313,814 | ||
Capital loss carryforward expiring 2017*
|
(387,836 | ) | ||
Post-October capital loss deferral†
|
(94,079 | ) | ||
*The capital loss carryforward will be used to offset any capital gains realized by the fund in the current year or in subsequent years through the expiration date. The fund will not make distributions from capital gains while a capital loss carryforward remains.
|
||||
†This deferral is considered incurred in the subsequent year.
|
(dollars in thousands) | ||||
Gross unrealized appreciation on investment securities
|
$ | 15,417,856 | ||
Gross unrealized depreciation on investment securities
|
(2,930,650 | ) | ||
Net unrealized appreciation on investment securities
|
12,487,206 | |||
Cost of investment securities
|
43,868,207 |
Share class
|
Six months ended June 30, 2012
|
Year ended December 31, 2011
|
||||||
Class A
|
$ | 398,298 | $ | 945,530 | ||||
Class B
|
3,639 | 13,329 | ||||||
Class C
|
8,660 | 24,855 | ||||||
Class F-1
|
16,420 | 35,112 | ||||||
Class F-2
|
6,366 | 14,859 | ||||||
Class 529-A
|
12,511 | 27,601 | ||||||
Class 529-B
|
441 | 1,534 | ||||||
Class 529-C
|
1,663 | 4,236 | ||||||
Class 529-E
|
428 | 983 | ||||||
Class 529-F-1
|
315 | 671 | ||||||
Class R-1
|
416 | 988 | ||||||
Class R-2
|
3,058 | 7,914 | ||||||
Class R-3
|
5,625 | 13,622 | ||||||
Class R-4
|
6,168 | 13,842 | ||||||
Class R-5
|
7,825 | 19,777 | ||||||
Class R-6
|
27,613 | 59,007 | ||||||
Total
|
$ | 499,446 | $ | 1,183,860 |
6.
|
Fees and transactions with related parties
|
Share class
|
Currently approved limits
|
Plan limits
|
Class A
|
0.25%
|
0.25%
|
Class 529-A
|
0.25
|
0.50
|
Classes B and 529-B
|
1.00
|
1.00
|
Classes C, 529-C and R-1
|
1.00
|
1.00
|
Class R-2
|
0.75
|
1.00
|
Classes 529-E and R-3
|
0.50
|
0.75
|
Classes F-1, 529-F-1 and R-4
|
0.25
|
0.50
|
Share class
|
Distribution services
|
Transfer agent services
|
Administrative services
|
529 plan
services
|
||||||||||||
Class A
|
$ | 51,343 | $ | 30,641 | $ | 2,216 |
Not applicable
|
|||||||||
Class B
|
3,799 | 538 |
Not applicable
|
Not applicable
|
||||||||||||
Class C
|
8,796 | 1,181 | 442 |
Not applicable
|
||||||||||||
Class F-1
|
2,363 | 1,081 | 474 |
Not applicable
|
||||||||||||
Class F-2
|
Not applicable
|
316 | 157 |
Not applicable
|
||||||||||||
Class 529-A
|
1,607 | 763 | 365 | $ | 726 | |||||||||||
Class 529-B
|
521 | 66 | 26 | 52 | ||||||||||||
Class 529-C
|
1,768 | 203 | 89 | 178 | ||||||||||||
Class 529-E
|
146 | 21 | 15 | 29 | ||||||||||||
Class 529-F-1
|
- | 17 | 8 | 16 | ||||||||||||
Class R-1
|
396 | 43 | 20 |
Not applicable
|
||||||||||||
Class R-2
|
2,198 | 1,049 | 148 |
Not applicable
|
||||||||||||
Class R-3
|
1,918 | 673 | 193 |
Not applicable
|
||||||||||||
Class R-4
|
856 | 332 | 173 |
Not applicable
|
||||||||||||
Class R-5
|
Not applicable
|
193 | 190 |
Not applicable
|
||||||||||||
Class R-6
|
Not applicable
|
2 | 648 |
Not applicable
|
||||||||||||
Total class-specific expenses
|
$ | 75,711 | $ | 37,119 | $ | 5,164 | $ | 1,001 |
7.
|
Warrants
|
8.
|
Capital share transactions
|
Sales(*)
|
Reinvestments
of dividends
|
Repurchases(*)
|
Net (decrease)
increase
|
|||||||||||||||||||||||||||||
Share class
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
||||||||||||||||||||||||
Six months ended June 30, 2012
|
||||||||||||||||||||||||||||||||
Class A
|
$ | 1,169,515 | 40,455 | $ | 380,847 | 13,111 | $ | (3,197,341 | ) | (110,541 | ) | $ | (1,646,979 | ) | (56,975 | ) | ||||||||||||||||
Class B
|
4,964 | 172 | 3,595 | 124 | (236,960 | ) | (8,263 | ) | (228,401 | ) | (7,967 | ) | ||||||||||||||||||||
Class C
|
69,157 | 2,406 | 8,392 | 291 | (273,483 | ) | (9,549 | ) | (195,934 | ) | (6,852 | ) | ||||||||||||||||||||
Class F-1
|
394,419 | 13,630 | 15,985 | 551 | (422,113 | ) | (14,797 | ) | (11,709 | ) | (616 | ) | ||||||||||||||||||||
Class F-2
|
49,477 | 1,706 | 5,801 | 200 | (72,124 | ) | (2,496 | ) | (16,846 | ) | (590 | ) | ||||||||||||||||||||
Class 529-A
|
94,405 | 3,281 | 12,508 | 431 | (76,531 | ) | (2,660 | ) | 30,382 | 1,052 | ||||||||||||||||||||||
Class 529-B
|
848 | 29 | 441 | 15 | (24,309 | ) | (849 | ) | (23,020 | ) | (805 | ) | ||||||||||||||||||||
Class 529-C
|
23,014 | 801 | 1,663 | 58 | (23,422 | ) | (817 | ) | 1,255 | 42 | ||||||||||||||||||||||
Class 529-E
|
3,199 | 112 | 428 | 15 | (3,631 | ) | (127 | ) | (4 | ) |
_ (†)
|
|||||||||||||||||||||
Class 529-F-1
|
4,161 | 144 | 315 | 11 | (3,152 | ) | (110 | ) | 1,324 | 45 | ||||||||||||||||||||||
Class R-1
|
9,178 | 319 | 416 | 14 | (10,283 | ) | (357 | ) | (689 | ) | (24 | ) | ||||||||||||||||||||
Class R-2
|
65,282 | 2,266 | 3,053 | 106 | (102,460 | ) | (3,556 | ) | (34,125 | ) | (1,184 | ) | ||||||||||||||||||||
Class R-3
|
89,898 | 3,126 | 5,622 | 194 | (122,531 | ) | (4,240 | ) | (27,011 | ) | (920 | ) | ||||||||||||||||||||
Class R-4
|
72,895 | 2,525 | 6,165 | 212 | (105,883 | ) | (3,660 | ) | (26,823 | ) | (923 | ) | ||||||||||||||||||||
Class R-5
|
41,269 | 1,431 | 7,815 | 269 | (139,340 | ) | (4,826 | ) | (90,256 | ) | (3,126 | ) | ||||||||||||||||||||
Class R-6
|
217,773 | 7,514 | 27,612 | 951 | (269,391 | ) | (9,223 | ) | (24,006 | ) | (758 | ) | ||||||||||||||||||||
Total net increase
|
||||||||||||||||||||||||||||||||
(decrease)
|
$ | 2,309,454 | 79,917 | $ | 480,658 | 16,553 | $ | (5,082,954 | ) | (176,071 | ) | $ | (2,292,842 | ) | (79,601 | ) | ||||||||||||||||
Year ended December 31, 2011
|
||||||||||||||||||||||||||||||||
Class A
|
$ | 2,591,052 | 92,718 | $ | 900,445 | 32,702 | $ | (7,911,508 | ) | (283,675 | ) | $ | (4,420,011 | ) | (158,255 | ) | ||||||||||||||||
Class B
|
13,395 | 481 | 13,081 | 475 | (580,423 | ) | (20,926 | ) | (553,947 | ) | (19,970 | ) | ||||||||||||||||||||
Class C
|
154,710 | 5,562 | 23,946 | 876 | (547,074 | ) | (19,844 | ) | (368,418 | ) | (13,406 | ) | ||||||||||||||||||||
Class F-1
|
690,634 | 24,783 | 33,781 | 1,233 | (469,661 | ) | (16,930 | ) | 254,754 | 9,086 | ||||||||||||||||||||||
Class F-2
|
123,467 | 4,385 | 11,412 | 417 | (175,136 | ) | (6,287 | ) | (40,257 | ) | (1,485 | ) | ||||||||||||||||||||
Class 529-A
|
190,204 | 6,835 | 27,593 | 1,005 | (163,462 | ) | (5,894 | ) | 54,335 | 1,946 | ||||||||||||||||||||||
Class 529-B
|
2,120 | 76 | 1,530 | 55 | (52,467 | ) | (1,896 | ) | (48,817 | ) | (1,765 | ) | ||||||||||||||||||||
Class 529-C
|
45,157 | 1,625 | 4,235 | 154 | (51,698 | ) | (1,871 | ) | (2,306 | ) | (92 | ) | ||||||||||||||||||||
Class 529-E
|
7,000 | 253 | 983 | 36 | (7,539 | ) | (273 | ) | 444 | 16 | ||||||||||||||||||||||
Class 529-F-1
|
9,630 | 343 | 671 | 25 | (5,879 | ) | (215 | ) | 4,422 | 153 | ||||||||||||||||||||||
Class R-1
|
17,478 | 629 | 985 | 36 | (19,456 | ) | (700 | ) | (993 | ) | (35 | ) | ||||||||||||||||||||
Class R-2
|
135,837 | 4,886 | 7,908 | 289 | (197,884 | ) | (7,129 | ) | (54,139 | ) | (1,954 | ) | ||||||||||||||||||||
Class R-3
|
196,980 | 7,044 | 13,617 | 496 | (269,855 | ) | (9,708 | ) | (59,258 | ) | (2,168 | ) | ||||||||||||||||||||
Class R-4
|
178,597 | 6,386 | 13,835 | 504 | (187,204 | ) | (6,684 | ) | 5,228 | 206 | ||||||||||||||||||||||
Class R-5
|
147,341 | 5,225 | 19,748 | 717 | (262,051 | ) | (9,659 | ) | (94,962 | ) | (3,717 | ) | ||||||||||||||||||||
Class R-6
|
450,260 | 15,942 | 58,995 | 2,147 | (283,571 | ) | (10,167 | ) | 225,684 | 7,922 | ||||||||||||||||||||||
Total net increase
|
||||||||||||||||||||||||||||||||
(decrease)
|
$ | 4,953,862 | 177,173 | $ | 1,132,765 | 41,167 | $ | (11,184,868 | ) | (401,858 | ) | $ | (5,098,241 | ) | (183,518 | ) | ||||||||||||||||
* Includes exchanges between share classes of the fund.
|
||||||||||||||||||||||||||||||||
† Amount less than one thousand.
|
9.
|
Investment transactions
|
Income (loss) from investment operations(1)
|
Dividends and distributions | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period
|
Net investment income
|
Net gains (losses) on securities (both realized and unrealized)
|
Total from investment operations
|
Dividends (from net investment income)
|
Distributions (from capital gains)
|
Total dividends and distributions
|
Net asset value, end of period
|
Total
return(2)(3)
|
Net assets, end of period (in millions)
|
Ratio of expenses to average net assets before reimbursements/
waivers
|
Ratio of expenses to average net assets after reimbursements/
waivers(3)
|
Ratio of net income to average net assets(3)
|
|||||||||||||||||||||||||||||||||||||||||
Class A:
|
Six months ended 6/30/2012(4)(5)
|
$ | 27.09 | $ | .30 | $ | 1.97 | $ | 2.27 | $ | (.26 | ) | $ | - | $ | (.26 | ) | $ | 29.10 | 8.38 | % | $ | 44,156 | .63 | %(6) | .63 | %(6) | 2.08 | %(6) | ||||||||||||||||||||||||
Year ended 12/31/2011
|
28.16 | .57 | (1.06 | ) | (.49 | ) | (.58 | ) | - | (.58 | ) | 27.09 | (1.76 | ) | 42,643 | .61 | .61 | 2.05 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.95 | .55 | 2.22 | 2.77 | (.56 | ) | - | (.56 | ) | 28.16 | 10.86 | 48,789 | .61 | .61 | 2.12 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.96 | .52 | 5.04 | 5.56 | (.57 | ) | - | (.57 | ) | 25.95 | 27.18 | 49,136 | .66 | .66 | 2.32 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.95 | .63 | (11.94 | ) | (11.31 | ) | (.68 | ) | - | (.68 | ) | 20.96 | (34.74 | ) | 43,244 | .59 | .57 | 2.25 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.51 | .72 | 1.24 | 1.96 | (.66 | ) | (1.86 | ) | (2.52 | ) | 32.95 | 5.94 | 73,480 | .56 | .54 | 2.05 | |||||||||||||||||||||||||||||||||||||
Class B:
|
Six months ended 6/30/2012(4)(5)
|
26.99 | .19 | 1.96 | 2.15 | (.14 | ) | - | (.14 | ) | 29.00 | 7.98 | 669 | 1.39 | (6) | 1.39 | (6) | 1.30 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.05 | .35 | (1.06 | ) | (.71 | ) | (.35 | ) | - | (.35 | ) | 26.99 | (2.53 | ) | 838 | 1.38 | 1.38 | 1.27 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.84 | .35 | 2.21 | 2.56 | (.35 | ) | - | (.35 | ) | 28.05 | 10.03 | 1,431 | 1.38 | 1.38 | 1.36 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.87 | .35 | 5.02 | 5.37 | (.40 | ) | - | (.40 | ) | 25.84 | 26.19 | 2,017 | 1.43 | 1.43 | 1.57 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.81 | .41 | (11.89 | ) | (11.48 | ) | (.46 | ) | - | (.46 | ) | 20.87 | (35.25 | ) | 2,191 | 1.36 | 1.34 | 1.48 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.37 | .45 | 1.24 | 1.69 | (.39 | ) | (1.86 | ) | (2.25 | ) | 32.81 | 5.15 | 4,138 | 1.33 | 1.31 | 1.28 | |||||||||||||||||||||||||||||||||||||
Class C:
|
Six months ended 6/30/2012(4)(5)
|
26.90 | .18 | 1.97 | 2.15 | (.14 | ) | - | (.14 | ) | 28.91 | 8.00 | 1,700 | 1.43 | (6) | 1.43 | (6) | 1.28 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
27.97 | .34 | (1.06 | ) | (.72 | ) | (.35 | ) | - | (.35 | ) | 26.90 | (2.58 | ) | 1,767 | 1.42 | 1.42 | 1.24 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.78 | .34 | 2.20 | 2.54 | (.35 | ) | - | (.35 | ) | 27.97 | 9.95 | 2,212 | 1.43 | 1.43 | 1.31 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.82 | .34 | 5.01 | 5.35 | (.39 | ) | - | (.39 | ) | 25.78 | 26.20 | 2,243 | 1.46 | 1.46 | 1.53 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.74 | .40 | (11.86 | ) | (11.46 | ) | (.46 | ) | - | (.46 | ) | 20.82 | (35.29 | ) | 1,974 | 1.41 | 1.38 | 1.44 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.31 | .43 | 1.23 | 1.66 | (.37 | ) | (1.86 | ) | (2.23 | ) | 32.74 | 5.08 | 3,409 | 1.38 | 1.36 | 1.23 | |||||||||||||||||||||||||||||||||||||
Class F-1:
|
Six months ended 6/30/2012(4)(5)
|
27.04 | .29 | 1.98 | 2.27 | (.25 | ) | - | (.25 | ) | 29.06 | 8.41 | 1,856 | .67 | (6) | .67 | (6) | 2.05 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.12 | .56 | (1.07 | ) | (.51 | ) | (.57 | ) | - | (.57 | ) | 27.04 | (1.84 | ) | 1,744 | .66 | .66 | 2.01 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.92 | .54 | 2.21 | 2.75 | (.55 | ) | - | (.55 | ) | 28.12 | 10.78 | 1,558 | .66 | .66 | 2.07 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.93 | .51 | 5.05 | 5.56 | (.57 | ) | - | (.57 | ) | 25.92 | 27.21 | 1,209 | .68 | .68 | 2.31 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.91 | .62 | (11.93 | ) | (11.31 | ) | (.67 | ) | - | (.67 | ) | 20.93 | (34.77 | ) | 1,009 | .62 | .60 | 2.23 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.48 | .70 | 1.24 | 1.94 | (.65 | ) | (1.86 | ) | (2.51 | ) | 32.91 | 5.87 | 1,642 | .60 | .58 | 2.01 | |||||||||||||||||||||||||||||||||||||
Class F-2:
|
Six months ended 6/30/2012(4)(5)
|
27.08 | .33 | 1.97 | 2.30 | (.29 | ) | - | (.29 | ) | 29.09 | 8.51 | 631 | .40 | (6) | .40 | (6) | 2.31 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.15 | .63 | (1.06 | ) | (.43 | ) | (.64 | ) | - | (.64 | ) | 27.08 | (1.54 | ) | 604 | .40 | .40 | 2.27 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.95 | .61 | 2.21 | 2.82 | (.62 | ) | - | (.62 | ) | 28.15 | 11.07 | 669 | .39 | .39 | 2.34 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.96 | .56 | 5.06 | 5.62 | (.63 | ) | - | (.63 | ) | 25.95 | 27.50 | 533 | .42 | .42 | 2.37 | ||||||||||||||||||||||||||||||||||||||
Period from 8/1/2008 to 12/31/2008(4)
|
28.53 | .26 | (7.47 | ) | (7.21 | ) | (.36 | ) | - | (.36 | ) | 20.96 | (25.39 | ) | 83 | .17 | .16 | 1.24 | |||||||||||||||||||||||||||||||||||
Class 529-A:
|
Six months ended 6/30/2012(4)(5)
|
27.05 | .29 | 1.97 | 2.26 | (.25 | ) | - | (.25 | ) | 29.06 | 8.34 | 1,494 | .73 | (6) | .73 | (6) | 1.99 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.12 | .55 | (1.06 | ) | (.51 | ) | (.56 | ) | - | (.56 | ) | 27.05 | (1.84 | ) | 1,362 | .70 | .70 | 1.97 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.92 | .53 | 2.22 | 2.75 | (.55 | ) | - | (.55 | ) | 28.12 | 10.77 | 1,362 | .68 | .68 | 2.05 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.93 | .50 | 5.04 | 5.54 | (.55 | ) | - | (.55 | ) | 25.92 | 27.12 | 1,173 | .73 | .73 | 2.24 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.91 | .60 | (11.92 | ) | (11.32 | ) | (.66 | ) | - | (.66 | ) | 20.93 | (34.79 | ) | 898 | .67 | .65 | 2.19 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.48 | .68 | 1.24 | 1.92 | (.63 | ) | (1.86 | ) | (2.49 | ) | 32.91 | 5.83 | 1,311 | .65 | .63 | 1.95 | |||||||||||||||||||||||||||||||||||||
Class 529-B:
|
Six months ended 6/30/2012(4)(5)
|
27.00 | .17 | 1.96 | 2.13 | (.12 | ) | - | (.12 | ) | 29.01 | 7.91 | 96 | 1.53 | (6) | 1.53 | (6) | 1.18 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.06 | .32 | (1.05 | ) | (.73 | ) | (.33 | ) | - | (.33 | ) | 27.00 | (2.63 | ) | 111 | 1.50 | 1.50 | 1.16 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.86 | .33 | 2.20 | 2.53 | (.33 | ) | - | (.33 | ) | 28.06 | 9.87 | 165 | 1.48 | 1.48 | 1.26 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.89 | .32 | 5.03 | 5.35 | (.38 | ) | - | (.38 | ) | 25.86 | 26.07 | 201 | 1.53 | 1.53 | 1.45 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.83 | .38 | (11.88 | ) | (11.50 | ) | (.44 | ) | - | (.44 | ) | 20.89 | (35.29 | ) | 169 | 1.47 | 1.45 | 1.38 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.40 | .40 | 1.24 | 1.64 | (.35 | ) | (1.86 | ) | (2.21 | ) | 32.83 | 4.99 | 261 | 1.46 | 1.43 | 1.15 | |||||||||||||||||||||||||||||||||||||
Class 529-C:
|
Six months ended 6/30/2012(4)(5)
|
26.99 | .17 | 1.96 | 2.13 | (.13 | ) | - | (.13 | ) | 28.99 | 7.91 | 363 | 1.51 | (6) | 1.51 | (6) | 1.21 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.06 | .33 | (1.06 | ) | (.73 | ) | (.34 | ) | - | (.34 | ) | 26.99 | (2.62 | ) | 336 | 1.49 | 1.49 | 1.18 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.86 | .33 | 2.21 | 2.54 | (.34 | ) | - | (.34 | ) | 28.06 | 9.91 | 352 | 1.47 | 1.47 | 1.26 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.89 | .32 | 5.03 | 5.35 | (.38 | ) | - | (.38 | ) | 25.86 | 26.09 | 321 | 1.52 | 1.52 | 1.45 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.84 | .38 | (11.89 | ) | (11.51 | ) | (.44 | ) | - | (.44 | ) | 20.89 | (35.31 | ) | 249 | 1.46 | 1.44 | 1.39 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.41 | .40 | 1.24 | 1.64 | (.35 | ) | (1.86 | ) | (2.21 | ) | 32.84 | 4.99 | 374 | 1.45 | 1.43 | 1.15 | |||||||||||||||||||||||||||||||||||||
Class 529-E:
|
Six months ended 6/30/2012(4)(5)
|
$ | 26.99 | $ | .25 | $ | 1.97 | $ | 2.22 | $ | (.21 | ) | $ | - | $ | (.21 | ) | $ | 29.00 | 8.23 | % | $ | 59 | .98 | %(6) | .98 | %(6) | 1.74 | %(6) | ||||||||||||||||||||||||
Year ended 12/31/2011
|
28.07 | .47 | (1.07 | ) | (.60 | ) | (.48 | ) | - | (.48 | ) | 26.99 | (2.15 | ) | 55 | .97 | .97 | 1.70 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.87 | .46 | 2.21 | 2.67 | (.47 | ) | - | (.47 | ) | 28.07 | 10.46 | 57 | .97 | .97 | 1.76 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.89 | .43 | 5.04 | 5.47 | (.49 | ) | - | (.49 | ) | 25.87 | 26.77 | 51 | 1.02 | 1.02 | 1.96 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.85 | .52 | (11.90 | ) | (11.38 | ) | (.58 | ) | - | (.58 | ) | 20.89 | (34.98 | ) | 38 | .96 | .94 | 1.90 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.42 | .58 | 1.24 | 1.82 | (.53 | ) | (1.86 | ) | (2.39 | ) | 32.85 | 5.52 | 56 | .95 | .92 | 1.66 | |||||||||||||||||||||||||||||||||||||
Class 529-F-1:
|
Six months ended 6/30/2012(4)(5)
|
27.03 | .32 | 1.97 | 2.29 | (.28 | ) | - | (.28 | ) | 29.04 | 8.47 | 34 | .51 | (6) | .51 | (6) | 2.21 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.10 | .61 | (1.06 | ) | (.45 | ) | (.62 | ) | - | (.62 | ) | 27.03 | (1.62 | ) | 31 | .49 | .49 | 2.19 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.90 | .59 | 2.21 | 2.80 | (.60 | ) | - | (.60 | ) | 28.10 | 11.00 | 28 | .47 | .47 | 2.26 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.92 | .55 | 5.03 | 5.58 | (.60 | ) | - | (.60 | ) | 25.90 | 27.37 | 22 | .52 | .52 | 2.44 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.90 | .66 | (11.92 | ) | (11.26 | ) | (.72 | ) | - | (.72 | ) | 20.92 | (34.66 | ) | 15 | .46 | .44 | 2.40 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.47 | .75 | 1.24 | 1.99 | (.70 | ) | (1.86 | ) | (2.56 | ) | 32.90 | 6.05 | 19 | .45 | .42 | 2.15 | |||||||||||||||||||||||||||||||||||||
Class R-1:
|
Six months ended 6/30/2012(4)(5)
|
26.95 | .19 | 1.97 | 2.16 | (.15 | ) | - | (.15 | ) | 28.96 | 8.02 | 79 | 1.41 | (6) | 1.41 | (6) | 1.31 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.02 | .35 | (1.06 | ) | (.71 | ) | (.36 | ) | - | (.36 | ) | 26.95 | (2.55 | ) | 74 | 1.41 | 1.41 | 1.25 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.83 | .35 | 2.20 | 2.55 | (.36 | ) | - | (.36 | ) | 28.02 | 9.96 | 78 | 1.41 | 1.41 | 1.32 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.87 | .34 | 5.02 | 5.36 | (.40 | ) | - | (.40 | ) | 25.83 | 26.18 | 66 | 1.44 | 1.44 | 1.52 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.81 | .40 | (11.88 | ) | (11.48 | ) | (.46 | ) | - | (.46 | ) | 20.87 | (35.25 | ) | 45 | 1.39 | 1.36 | 1.48 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.39 | .42 | 1.23 | 1.65 | (.37 | ) | (1.86 | ) | (2.23 | ) | 32.81 | 5.06 | 61 | 1.40 | 1.38 | 1.20 | |||||||||||||||||||||||||||||||||||||
Class R-2:
|
Six months ended 6/30/2012(4)(5)
|
26.98 | .19 | 1.96 | 2.15 | (.15 | ) | - | (.15 | ) | 28.98 | 7.96 | 585 | 1.40 | (6) | 1.40 | (6) | 1.32 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.05 | .35 | (1.06 | ) | (.71 | ) | (.36 | ) | - | (.36 | ) | 26.98 | (2.55 | ) | 577 | 1.41 | 1.41 | 1.25 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.85 | .34 | 2.21 | 2.55 | (.35 | ) | - | (.35 | ) | 28.05 | 9.96 | 654 | 1.44 | 1.44 | 1.30 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.88 | .32 | 5.03 | 5.35 | (.38 | ) | - | (.38 | ) | 25.85 | 26.08 | 621 | 1.52 | 1.52 | 1.45 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.83 | .38 | (11.89 | ) | (11.51 | ) | (.44 | ) | - | (.44 | ) | 20.88 | (35.33 | ) | 468 | 1.48 | 1.46 | 1.37 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.40 | .42 | 1.23 | 1.65 | (.36 | ) | (1.86 | ) | (2.22 | ) | 32.83 | 5.04 | 694 | 1.44 | 1.39 | 1.19 | |||||||||||||||||||||||||||||||||||||
Class R-3:
|
Six months ended 6/30/2012(4)(5)
|
27.03 | .25 | 1.96 | 2.21 | (.21 | ) | - | (.21 | ) | 29.03 | 8.18 | 765 | .98 | (6) | .98 | (6) | 1.74 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.10 | .47 | (1.06 | ) | (.59 | ) | (.48 | ) | - | (.48 | ) | 27.03 | (2.11 | ) | 737 | .97 | .97 | 1.70 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.90 | .46 | 2.21 | 2.67 | (.47 | ) | - | (.47 | ) | 28.10 | 10.45 | 827 | .97 | .97 | 1.77 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.92 | .44 | 5.04 | 5.48 | (.50 | ) | - | (.50 | ) | 25.90 | 26.76 | 768 | 1.00 | 1.00 | 1.97 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.88 | .53 | (11.90 | ) | (11.37 | ) | (.59 | ) | - | (.59 | ) | 20.92 | (34.94 | ) | 568 | .92 | .90 | 1.91 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.45 | .58 | 1.24 | 1.82 | (.53 | ) | (1.86 | ) | (2.39 | ) | 32.88 | 5.52 | 1,032 | .94 | .92 | 1.66 | |||||||||||||||||||||||||||||||||||||
Class R-4:
|
Six months ended 6/30/2012(4)(5)
|
27.04 | .30 | 1.97 | 2.27 | (.26 | ) | - | (.26 | ) | 29.05 | 8.39 | 683 | .65 | (6) | .65 | (6) | 2.07 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.12 | .56 | (1.07 | ) | (.51 | ) | (.57 | ) | - | (.57 | ) | 27.04 | (1.83 | ) | 660 | .65 | .65 | 2.02 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.91 | .54 | 2.22 | 2.76 | (.55 | ) | - | (.55 | ) | 28.12 | 10.82 | 681 | .65 | .65 | 2.08 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.93 | .50 | 5.05 | 5.55 | (.57 | ) | - | (.57 | ) | 25.91 | 27.16 | 624 | .68 | .68 | 2.21 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.90 | .61 | (11.91 | ) | (11.30 | ) | (.67 | ) | - | (.67 | ) | 20.93 | (34.78 | ) | 304 | .65 | .62 | 2.21 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.48 | .68 | 1.23 | 1.91 | (.63 | ) | (1.86 | ) | (2.49 | ) | 32.90 | 5.85 | 419 | .65 | .63 | 1.95 | |||||||||||||||||||||||||||||||||||||
Class R-5:
|
Six months ended 6/30/2012(4)(5)
|
27.08 | .34 | 1.97 | 2.31 | (.30 | ) | - | (.30 | ) | 29.09 | 8.53 | 726 | .35 | (6) | .35 | (6) | 2.35 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.15 | .65 | (1.07 | ) | (.42 | ) | (.65 | ) | - | (.65 | ) | 27.08 | (1.50 | ) | 761 | .35 | .35 | 2.31 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.94 | .61 | 2.23 | 2.84 | (.63 | ) | - | (.63 | ) | 28.15 | 11.14 | 895 | .35 | .35 | 2.33 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2009
|
20.95 | .58 | 5.04 | 5.62 | (.63 | ) | - | (.63 | ) | 25.94 | 27.57 | 2,123 | .38 | .38 | 2.62 | ||||||||||||||||||||||||||||||||||||||
Year ended 12/31/2008
|
32.95 | .69 | (11.94 | ) | (11.25 | ) | (.75 | ) | - | (.75 | ) | 20.95 | (34.60 | ) | 1,861 | .35 | .33 | 2.52 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2007
|
33.51 | .79 | 1.25 | 2.04 | (.74 | ) | (1.86 | ) | (2.60 | ) | 32.95 | 6.18 | 2,307 | .35 | .33 | 2.25 | |||||||||||||||||||||||||||||||||||||
Class R-6:
|
Six months ended 6/30/2012(4)(5)
|
27.08 | .35 | 1.97 | 2.32 | (.31 | ) | - | (.31 | ) | 29.09 | 8.56 | 2,617 | .30 | (6) | .30 | (6) | 2.41 | (6) | ||||||||||||||||||||||||||||||||||
Year ended 12/31/2011
|
28.15 | .66 | (1.06 | ) | (.40 | ) | (.67 | ) | - | (.67 | ) | 27.08 | (1.45 | ) | 2,456 | .30 | .30 | 2.37 | |||||||||||||||||||||||||||||||||||
Year ended 12/31/2010
|
25.95 | .63 | 2.21 | 2.84 | (.64 | ) | - | (.64 | ) | 28.15 | 11.16 | 2,330 | .30 | .30 | 2.45 | ||||||||||||||||||||||||||||||||||||||
Period from 5/1/2009 to 12/31/2009(4)
|
20.70 | .40 | 5.30 | 5.70 | (.45 | ) | - | (.45 | ) | 25.95 | 27.76 | 534 | .33 | (6) | .33 | (6) | 2.52 | (6) |
Six months ended
June 30, |
Year ended December 31
|
|||||||||||||||||||||||
2012(4)(5)
|
2011
|
2010
|
2009
|
2008
|
2007
|
|||||||||||||||||||
Portfolio turnover rate for all share classes
|
9 | % | 28 | % | 23 | % | 28 | % | 31 | % | 22 | % |
(1)Based on average shares outstanding.
|
|||||||||||||
(2)Total returns exclude any applicable sales charges, including contingent deferred sales charges.
|
|||||||||||||
(3)This column reflects the impact, if any, of certain reimbursements/waivers from CRMC. During some of the periods shown, CRMC reduced fees for investment advisory services. In addition, during some of the periods shown, CRMC paid a portion of the fund's transfer agent fees for certain retirement plan share classes.
|
|||||||||||||
(4)Based on operations for the period shown and, accordingly, is not representative of a full year.
|
|||||||||||||
(5)Unaudited.
|
|||||||||||||
(6)Annualized.
|
|||||||||||||
See Notes to Financial Statements
|
Beginning account value 1/1/2012
|
Ending account value 6/30/2012
|
Expenses paid during period*
|
Annualized expense ratio
|
|||||||||||||
Class A -- actual return
|
$ | 1,000.00 | $ | 1,083.83 | $ | 3.26 | .63 | % | ||||||||
Class A -- assumed 5% return
|
1,000.00 | 1,021.73 | 3.17 | .63 | ||||||||||||
Class B -- actual return
|
1,000.00 | 1,079.82 | 7.19 | 1.39 | ||||||||||||
Class B -- assumed 5% return
|
1,000.00 | 1,017.95 | 6.97 | 1.39 | ||||||||||||
Class C -- actual return
|
1,000.00 | 1,080.05 | 7.40 | 1.43 | ||||||||||||
Class C -- assumed 5% return
|
1,000.00 | 1,017.75 | 7.17 | 1.43 | ||||||||||||
Class F-1 -- actual return
|
1,000.00 | 1,084.14 | 3.47 | .67 | ||||||||||||
Class F-1 -- assumed 5% return
|
1,000.00 | 1,021.53 | 3.37 | .67 | ||||||||||||
Class F-2 -- actual return
|
1,000.00 | 1,085.09 | 2.07 | .40 | ||||||||||||
Class F-2 -- assumed 5% return
|
1,000.00 | 1,022.87 | 2.01 | .40 | ||||||||||||
Class 529-A -- actual return
|
1,000.00 | 1,083.44 | 3.78 | .73 | ||||||||||||
Class 529-A -- assumed 5% return
|
1,000.00 | 1,021.23 | 3.67 | .73 | ||||||||||||
Class 529-B -- actual return
|
1,000.00 | 1,079.08 | 7.91 | 1.53 | ||||||||||||
Class 529-B -- assumed 5% return
|
1,000.00 | 1,017.26 | 7.67 | 1.53 | ||||||||||||
Class 529-C -- actual return
|
1,000.00 | 1,079.07 | 7.81 | 1.51 | ||||||||||||
Class 529-C -- assumed 5% return
|
1,000.00 | 1,017.35 | 7.57 | 1.51 | ||||||||||||
Class 529-E -- actual return
|
1,000.00 | 1,082.31 | 5.07 | .98 | ||||||||||||
Class 529-E -- assumed 5% return
|
1,000.00 | 1,019.99 | 4.92 | .98 | ||||||||||||
Class 529-F-1 -- actual return
|
1,000.00 | 1,084.67 | 2.64 | .51 | ||||||||||||
Class 529-F-1 -- assumed 5% return
|
1,000.00 | 1,022.33 | 2.56 | .51 | ||||||||||||
Class R-1 -- actual return
|
1,000.00 | 1,080.15 | 7.29 | 1.41 | ||||||||||||
Class R-1 -- assumed 5% return
|
1,000.00 | 1,017.85 | 7.07 | 1.41 | ||||||||||||
Class R-2 -- actual return
|
1,000.00 | 1,079.62 | 7.24 | 1.40 | ||||||||||||
Class R-2 -- assumed 5% return
|
1,000.00 | 1,017.90 | 7.02 | 1.40 | ||||||||||||
Class R-3 -- actual return
|
1,000.00 | 1,081.80 | 5.07 | .98 | ||||||||||||
Class R-3 -- assumed 5% return
|
1,000.00 | 1,019.99 | 4.92 | .98 | ||||||||||||
Class R-4 -- actual return
|
1,000.00 | 1,083.88 | 3.37 | .65 | ||||||||||||
Class R-4 -- assumed 5% return
|
1,000.00 | 1,021.63 | 3.27 | .65 | ||||||||||||
Class R-5 -- actual return
|
1,000.00 | 1,085.35 | 1.81 | .35 | ||||||||||||
Class R-5 -- assumed 5% return
|
1,000.00 | 1,023.12 | 1.76 | .35 | ||||||||||||
Class R-6 -- actual return
|
1,000.00 | 1,085.64 | 1.56 | .30 | ||||||||||||
Class R-6 -- assumed 5% return
|
1,000.00 | 1,023.37 | 1.51 | .30 | ||||||||||||
*The “expenses paid during period” are equal to the “annualized expense ratio,” multiplied by the average account value over the period, multiplied by the number of days in the period, and divided by 366 (to reflect the one-half year period).
|
Common stocks — 90.58%
|
Shares
|
Value
(000)
|
||||||
ENERGY — 12.76%
|
||||||||
Apache Corp.
|
4,310,000 | $ | 378,806 | |||||
Baker Hughes Inc.
|
11,915,000 | 489,706 | ||||||
BP PLC1
|
128,484,340 | 860,866 | ||||||
BP PLC (ADR)
|
3,676,953 | 149,064 | ||||||
Canadian Natural Resources, Ltd.
|
5,540,000 | 148,608 | ||||||
Chevron Corp.
|
9,480,000 | 1,000,140 | ||||||
ConocoPhillips
|
10,675,000 | 596,519 | ||||||
Devon Energy Corp.
|
3,155,000 | 182,958 | ||||||
Diamond Offshore Drilling, Inc.
|
2,025,000 | 119,738 | ||||||
Eni SpA1
|
2,698,000 | 57,579 | ||||||
EOG Resources, Inc.
|
4,232,200 | 381,364 | ||||||
Range Resources Corp.
|
245,000 | 15,158 | ||||||
Royal Dutch Shell PLC, Class A (ADR)
|
15,357,000 | 1,035,523 | ||||||
Royal Dutch Shell PLC, Class B1
|
12,365,265 | 431,550 | ||||||
Royal Dutch Shell PLC, Class B (ADR)
|
2,975,498 | 208,077 | ||||||
Schlumberger Ltd.
|
15,674,999 | 1,017,464 | ||||||
TOTAL SA1
|
3,000,000 | 135,387 | ||||||
7,208,507 | ||||||||
MATERIALS — 3.87%
|
||||||||
ArcelorMittal1
|
7,540,000 | 116,479 | ||||||
Barrick Gold Corp.
|
3,325,000 | 124,920 | ||||||
Dow Chemical Co.
|
42,502,000 | 1,338,813 | ||||||
International Flavors & Fragrances Inc.
|
2,892,898 | 158,531 | ||||||
POSCO1
|
136,000 | 43,426 | ||||||
Praxair, Inc.
|
2,939,500 | 319,612 | ||||||
United States Steel Corp.
|
4,160,000 | 85,696 | ||||||
2,187,477 | ||||||||
INDUSTRIALS — 11.36%
|
||||||||
3M Co.
|
1,435,000 | 128,576 | ||||||
CSX Corp.
|
31,422,748 | 702,613 | ||||||
Danaher Corp.
|
4,730,000 | 246,338 | ||||||
Deere & Co.
|
2,800,000 | 226,436 | ||||||
Emerson Electric Co.
|
2,130,000 | 99,215 | ||||||
European Aeronautic Defence and Space Co. EADS NV1
|
3,935,000 | 139,546 | ||||||
General Dynamics Corp.
|
13,059,800 | 861,424 | ||||||
General Electric Co.
|
27,725,000 | 577,789 | ||||||
Illinois Tool Works Inc.
|
6,400,000 | 338,496 | ||||||
Lockheed Martin Corp.
|
2,790,820 | 243,025 | ||||||
Masco Corp.2
|
23,258,069 | 322,589 | ||||||
R.R. Donnelley & Sons Co.2
|
10,135,000 | 119,289 | ||||||
Republic Services, Inc.
|
5,500,000 | 145,530 | ||||||
Southwest Airlines Co.
|
13,000,000 | 119,860 | ||||||
Union Pacific Corp.
|
6,386,900 | 762,021 | ||||||
United Continental Holdings, Inc.3
|
4,350,000 | 105,836 | ||||||
United Parcel Service, Inc., Class B
|
4,750,000 | 374,110 | ||||||
United Technologies Corp.
|
7,561,852 | 571,147 | ||||||
Waste Management, Inc.
|
10,100,700 | 337,363 | ||||||
6,421,203 | ||||||||
CONSUMER DISCRETIONARY — 12.47%
|
||||||||
Amazon.com, Inc.3
|
3,100,000 | 707,885 | ||||||
Carnival Corp., units
|
1,000,000 | 34,270 | ||||||
Comcast Corp., Class A
|
28,838,400 | 921,964 | ||||||
Comcast Corp., Class A, special nonvoting shares
|
7,000,000 | 219,800 | ||||||
Daimler AG1
|
2,164,475 | 97,345 | ||||||
DIRECTV, Class A3
|
2,500,000 | 122,050 | ||||||
General Motors Co.3
|
35,490,500 | 699,873 | ||||||
Harley-Davidson, Inc.
|
2,990,000 | 136,733 | ||||||
Home Depot, Inc.
|
25,700,000 | 1,361,843 | ||||||
Honda Motor Co., Ltd.1
|
1,125,000 | 39,189 | ||||||
Johnson Controls, Inc.
|
10,161,150 | 281,565 | ||||||
Kohl’s Corp.
|
6,744,000 | 306,784 | ||||||
McDonald’s Corp.
|
2,000,000 | 177,060 | ||||||
News Corp., Class A
|
31,725,000 | 707,150 | ||||||
NIKE, Inc., Class B
|
3,578,100 | 314,086 | ||||||
Nordstrom, Inc.
|
1,500,000 | 74,535 | ||||||
Time Warner Cable Inc.
|
4,812,727 | 395,125 | ||||||
Time Warner Inc.
|
11,624,000 | 447,524 | ||||||
7,044,781 | ||||||||
CONSUMER STAPLES — 11.62%
|
||||||||
Altria Group, Inc.
|
30,125,000 | 1,040,819 | ||||||
Avon Products, Inc.
|
3,083,300 | 49,980 | ||||||
Coca-Cola Co.
|
6,803,300 | 531,950 | ||||||
ConAgra Foods, Inc.
|
5,521,100 | 143,162 | ||||||
CVS/Caremark Corp.
|
11,000,000 | 514,030 | ||||||
General Mills, Inc.
|
3,920,000 | 151,077 | ||||||
H.J. Heinz Co.
|
2,750,000 | 149,545 | ||||||
Hillshire Brands Co.
|
1,000,000 | 28,990 | ||||||
Kellogg Co.
|
1,000,000 | 49,330 | ||||||
Kimberly-Clark Corp.
|
1,500,000 | 125,655 | ||||||
Kraft Foods Inc., Class A
|
18,374,168 | 709,610 | ||||||
Molson Coors Brewing Co., Class B
|
3,307,400 | 137,621 | ||||||
PepsiCo, Inc.
|
6,097,500 | 430,849 | ||||||
Philip Morris International Inc.
|
27,991,072 | 2,442,501 | ||||||
Reynolds American Inc.
|
1,333,332 | 59,827 | ||||||
6,564,946 | ||||||||
HEALTH CARE — 7.95%
|
||||||||
Abbott Laboratories
|
18,685,000 | 1,204,622 | ||||||
Alexion Pharmaceuticals, Inc.3
|
2,350,000 | 233,355 | ||||||
Amgen Inc.
|
14,290,000 | 1,043,742 | ||||||
Bayer AG1
|
1,500,000 | 108,163 | ||||||
Boston Scientific Corp.3
|
12,830,000 | 72,746 | ||||||
Express Scripts Holding Co.3
|
3,240,000 | 180,889 | ||||||
Gilead Sciences, Inc.3
|
10,930,000 | 560,490 | ||||||
Johnson & Johnson
|
600,000 | 40,536 | ||||||
Medtronic, Inc.
|
3,562,500 | 137,976 | ||||||
Merck & Co., Inc.
|
8,175,000 | 341,306 | ||||||
Novartis AG1
|
3,697,000 | 206,219 | ||||||
Novartis AG (ADR)
|
921,556 | 51,515 | ||||||
Pfizer Inc
|
4,025,000 | 92,575 | ||||||
St. Jude Medical, Inc.
|
5,473,000 | 218,427 | ||||||
4,492,561 | ||||||||
FINANCIALS — 5.70%
|
||||||||
American Express Co.
|
2,503,500 | 145,729 | ||||||
Aon PLC, Class A
|
8,975,000 | 419,850 | ||||||
Bank of New York Mellon Corp.
|
2,664,800 | 58,492 | ||||||
Capital One Financial Corp.
|
6,500,000 | 355,290 | ||||||
Citigroup Inc.
|
20,110,455 | 551,228 | ||||||
Credit Suisse Group AG1
|
6,239,400 | 113,986 | ||||||
Fifth Third Bancorp
|
1,357,700 | 18,193 | ||||||
Genworth Financial, Inc., Class A3
|
12,844,101 | 72,698 | ||||||
HSBC Holdings PLC (ADR)
|
1,529,416 | 67,493 | ||||||
HSBC Holdings PLC (United Kingdom)1
|
4,869,240 | 42,934 | ||||||
JPMorgan Chase & Co.
|
19,155,000 | 684,408 | ||||||
Regions Financial Corp.
|
13,400,000 | 90,450 | ||||||
Société Générale1,3
|
2,932,877 | 69,149 | ||||||
State Street Corp.
|
5,304,100 | 236,775 | ||||||
Wells Fargo & Co.
|
8,850,000 | 295,944 | ||||||
3,222,619 | ||||||||
INFORMATION TECHNOLOGY — 14.13%
|
||||||||
Accenture PLC, Class A
|
2,250,000 | 135,203 | ||||||
Adobe Systems Inc.3
|
5,305,000 | 171,723 | ||||||
Apple Inc.3
|
2,155,000 | 1,258,520 | ||||||
Automatic Data Processing, Inc.
|
4,023,043 | 223,923 | ||||||
Cisco Systems, Inc.
|
4,643,000 | 79,720 | ||||||
Corning Inc.
|
5,500,000 | 71,115 | ||||||
Flextronics International Ltd.3
|
8,176,500 | 50,694 | ||||||
Hewlett-Packard Co.
|
14,000,000 | 281,540 | ||||||
Intel Corp.
|
21,254,700 | 566,438 | ||||||
International Business Machines Corp.
|
1,624,741 | 317,767 | ||||||
KLA-Tencor Corp.
|
6,276,900 | 309,137 | ||||||
Linear Technology Corp.
|
4,450,000 | 139,418 | ||||||
Maxim Integrated Products, Inc.
|
2,757,700 | 70,707 | ||||||
Microsoft Corp.
|
52,650,500 | 1,610,579 | ||||||
Nokia Corp.1
|
47,125,000 | 97,080 | ||||||
Nokia Corp. (ADR)
|
5,652,400 | 11,700 | ||||||
Oracle Corp.
|
33,385,000 | 991,535 | ||||||
QUALCOMM Inc.
|
4,951,300 | 275,688 | ||||||
Samsung Electronics Co. Ltd.1
|
375,500 | 398,114 | ||||||
Texas Instruments Inc.
|
22,825,000 | 654,849 | ||||||
Xilinx, Inc.
|
4,254,500 | 142,824 | ||||||
Yahoo! Inc.3
|
8,107,420 | 128,340 | ||||||
7,986,614 | ||||||||
TELECOMMUNICATION SERVICES — 5.46%
|
||||||||
AT&T Inc.
|
49,300,000 | 1,758,038 | ||||||
CenturyLink, Inc.
|
6,096,000 | 240,731 | ||||||
Sprint Nextel Corp., Series 13
|
143,380,000 | 467,419 | ||||||
Verizon Communications Inc.
|
13,944,600 | 619,698 | ||||||
3,085,886 | ||||||||
UTILITIES — 3.20%
|
||||||||
Dominion Resources, Inc.
|
9,403,824 | 507,806 | ||||||
Exelon Corp.
|
5,120,600 | 192,637 | ||||||
FirstEnergy Corp.
|
4,443,500 | 218,576 | ||||||
GDF SUEZ1
|
18,639,655 | 444,722 | ||||||
NextEra Energy, Inc.
|
300,000 | 20,643 | ||||||
PG&E Corp.
|
2,225,000 | 100,726 | ||||||
Public Service Enterprise Group Inc.
|
10,000,000 | 325,000 | ||||||
1,810,110 | ||||||||
MISCELLANEOUS — 2.06%
|
||||||||
Other common stocks in initial period of acquisition
|
1,162,571 | |||||||
Total common stocks (cost: $38,608,150,000)
|
51,187,275 | |||||||
Warrants — 0.00%
|
||||||||
FINANCIALS — 0.00%
|
||||||||
Washington Mutual, Inc., warrants, expire 20131,3
|
3,071,428 | — | ||||||
Total warrants (cost: $11,770,000)
|
— | |||||||
Shares or
|
||||||||
Convertible securities — 0.59%
|
principal amount
|
|||||||
MATERIALS — 0.09%
|
||||||||
ArcelorMittal 5.00% convertible debenture 2014
|
$ | 48,620,000 | 50,079 | |||||
CONSUMER DISCRETIONARY — 0.50%
|
||||||||
General Motors Co., Series B, 4.75% convertible preferred 2013
|
8,611,850 | 285,913 | ||||||
Total convertible securities (cost: $462,252,000)
|
335,992 | |||||||
Principal amount
|
||||||||
Bonds & notes — 1.23%
|
(000 | ) | ||||||
ENERGY — 0.01%
|
||||||||
Chevron Corp. 4.95% 2019
|
$ | 5,000 | 6,038 | |||||
MATERIALS — 0.01%
|
||||||||
Dow Chemical Co. 4.125% 2021
|
500 | 538 | ||||||
Rio Tinto Finance (USA) Ltd. 9.00% 2019
|
3,780 | 5,178 | ||||||
5,716 | ||||||||
INDUSTRIALS — 0.06%
|
||||||||
Burlington Northern Santa Fe LLC 5.75% 2018
|
5,000 | 5,955 | ||||||
CSX Corp. 6.25% 2015
|
5,000 | 5,701 | ||||||
Honeywell International Inc. 5.00% 2019
|
4,090 | 4,875 | ||||||
Norfolk Southern Corp. 5.75% 2018
|
2,500 | 2,971 | ||||||
Raytheon Co. 4.40% 2020
|
3,055 | 3,476 | ||||||
Union Pacific Corp. 6.125% 2020
|
5,000 | 6,187 | ||||||
United Technologies Corp. 4.50% 2020
|
5,475 | 6,360 | ||||||
Waste Management, Inc. 2.60% 2016
|
445 | 457 | ||||||
35,982 | ||||||||
CONSUMER DISCRETIONARY — 0.03%
|
||||||||
Comcast Corp. 6.30% 2017
|
5,120 | 6,166 | ||||||
Kohl’s Corp. 6.25% 2017
|
3,500 | 4,206 | ||||||
News America Inc. 6.90% 2019
|
5,000 | 6,160 | ||||||
16,532 | ||||||||
CONSUMER STAPLES — 0.03%
|
||||||||
British American Tobacco International Finance PLC 9.50% 20184
|
5,000 | 6,819 | ||||||
Kraft Foods Inc. 2.625% 2013
|
2,555 | 2,594 | ||||||
PepsiCo, Inc. 2.50% 2016
|
2,500 | 2,628 | ||||||
Tesco PLC 5.50% 20174
|
2,506 | 2,914 | ||||||
14,955 | ||||||||
HEALTH CARE — 0.03%
|
||||||||
Boston Scientific Corp. 6.00% 2020
|
1,250 | 1,494 | ||||||
Cardinal Health, Inc. 5.80% 2016
|
2,905 | 3,367 | ||||||
Novartis Securities Investment Ltd. 5.125% 2019
|
2,500 | 2,986 | ||||||
Pfizer Inc 6.20% 2019
|
2,500 | 3,140 | ||||||
Roche Holdings Inc. 6.00% 20194
|
2,500 | 3,117 | ||||||
WellPoint, Inc. 7.00% 2019
|
4,200 | 5,225 | ||||||
19,329 | ||||||||
FINANCIALS — 0.22%
|
||||||||
Bank of America Corp. 3.75% 2016
|
225 | 227 | ||||||
Bank of America Corp., Series K, junior subordinated 8.00% noncumulative (undated)5
|
3,335 | 3,478 | ||||||
Bank of America Corp., Series L, 3.625% 2016
|
250 | 252 | ||||||
Bank of America Corp., Series M, junior subordinated 8.125% noncumulative (undated)5
|
3,335 | 3,504 | ||||||
Boston Properties, Inc. 5.875% 2019
|
5,000 | 5,776 | ||||||
Citigroup Capital XXI 8.30% 20775
|
687 | 690 | ||||||
Citigroup Inc. 4.587% 2015
|
1,387 | 1,452 | ||||||
JPMorgan Chase & Co., Series I, junior subordinated 7.90% (undated)5
|
62,936 | 69,236 | ||||||
Northern Trust Corp. 4.625% 2014
|
2,650 | 2,837 | ||||||
Regions Bank, junior subordinated 7.50% 2018
|
4,350 | 4,905 | ||||||
Regions Financial Corp. 7.75% 2014
|
13,082 | 14,161 | ||||||
Simon Property Group, LP 4.20% 2015
|
2,600 | 2,743 | ||||||
SLM Corp., Series A, 5.125% 2012
|
1,000 | 1,004 | ||||||
Société Générale, junior subordinated 5.922% (undated)4,5
|
20,955 | 14,249 | ||||||
124,514 | ||||||||
INFORMATION TECHNOLOGY — 0.01%
|
||||||||
Cisco Systems, Inc. 4.95% 2019
|
2,500 | 2,954 | ||||||
Xerox Corp. 2.95% 2017
|
750 | 759 | ||||||
3,713 | ||||||||
TELECOMMUNICATION SERVICES — 0.41%
|
||||||||
AT&T Inc. 4.85% 2014
|
5,000 | 5,329 | ||||||
Sprint Capital Corp. 6.90% 2019
|
17,200 | 16,254 | ||||||
Sprint Nextel Corp. 11.50% 20214
|
101,775 | 113,734 | ||||||
Sprint Nextel Corp. 8.375% 2017
|
5,300 | 5,459 | ||||||
Sprint Nextel Corp. 9.125% 20174
|
83,400 | 87,778 | ||||||
Vodafone Group PLC 5.625% 2017
|
2,000 | 2,344 | ||||||
230,898 | ||||||||
MORTGAGE-BACKED OBLIGATIONS6 — 0.10%
|
||||||||
Fannie Mae 3.00% 2027
|
5,000 | 5,241 | ||||||
Fannie Mae 3.50% 2025
|
4,118 | 4,357 | ||||||
Fannie Mae 3.50% 2042
|
3,000 | 3,172 | ||||||
Fannie Mae 4.00% 2041
|
13,960 | 15,073 | ||||||
Fannie Mae 4.50% 2041
|
9,119 | 10,041 | ||||||
Fannie Mae 5.00% 2041
|
9,430 | 10,470 | ||||||
Fannie Mae 6.00% 2038
|
333 | 368 | ||||||
Fannie Mae 6.00% 2038
|
3,480 | 3,837 | ||||||
Fannie Mae 6.00% 2038
|
3,583 | 3,934 | ||||||
56,493 | ||||||||
BONDS & NOTES OF U.S. GOVERNMENT & GOVERNMENT AGENCIES — 0.32%
|
||||||||
Federal Home Loan Bank 3.625% 2013
|
50,000 | 52,159 | ||||||
Freddie Mac 2.125% 2012
|
10,000 | 10,045 | ||||||
Freddie Mac 5.00% 2014
|
10,000 | 10,930 | ||||||
U.S. Treasury 0.125% 20167
|
4,169 | 4,345 | ||||||
U.S. Treasury 0.125% 20227
|
3,049 | 3,232 | ||||||
U.S. Treasury 0.875% 2017
|
500 | 504 | ||||||
U.S. Treasury 1.00% 2016
|
2,500 | 2,540 | ||||||
U.S. Treasury 1.00% 2017
|
3,500 | 3,549 | ||||||
U.S. Treasury 1.125% 2019
|
3,000 | 3,006 | ||||||
U.S. Treasury 1.25% 2014
|
10,000 | 10,150 | ||||||
U.S. Treasury 1.75% 2022
|
1,000 | 1,009 | ||||||
U.S. Treasury 4.00% 2018
|
10,000 | 11,842 | ||||||
U.S. Treasury 4.125% 2015
|
10,000 | 11,052 | ||||||
U.S. Treasury 4.625% 2016
|
20,000 | 23,418 | ||||||
U.S. Treasury 8.00% 2021
|
20,000 | 31,422 | ||||||
179,203 | ||||||||
Total bonds & notes (cost: $636,515,000)
|
693,373 | |||||||
Short-term securities — 7.32%
|
||||||||
Abbott Laboratories 0.14%–0.16% due 7/31–9/10/20124
|
117,200 | 117,178 | ||||||
Chariot Funding, LLC 0.18% due 7/19/20124
|
50,000 | 49,995 | ||||||
Coca-Cola Co. 0.17%–0.23% due 8/22–10/15/20124
|
83,800 | 83,770 | ||||||
Fannie Mae 0.07%–0.23% due 7/16/2012–1/7/2013
|
1,053,707 | 1,053,281 | ||||||
Federal Farm Credit Banks 0.07%–0.20% due 7/23/2012–4/30/2013
|
341,000 | 340,802 | ||||||
Federal Home Loan Bank 0.10%–0.21% due 7/13/2012–6/14/2013
|
646,162 | 645,723 | ||||||
Freddie Mac 0.07%–0.18% due 7/11/2012–1/23/2013
|
719,442 | 719,155 | ||||||
Google Inc. 0.14% due 8/10/20124
|
28,000 | 27,994 | ||||||
Medtronic Inc. 0.11% due 7/5/20124
|
50,000 | 49,999 | ||||||
Merck & Co. Inc. 0.13% due 8/22/20124
|
50,000 | 49,990 | ||||||
National Rural Utilities Cooperative Finance Corp. 0.14% due 7/19/2012
|
45,300 | 45,297 | ||||||
NetJets Inc. 0.12% due 7/24/20124
|
6,000 | 6,000 | ||||||
Regents of the University of California 0.22% due 10/22/2012
|
26,607 | 26,589 | ||||||
Straight-A Funding LLC 0.16%–0.18% due 7/19–8/8/20124
|
52,400 | 52,392 | ||||||
U.S. Bank, N.A. 0.14% due 7/2/2012
|
50,000 | 49,999 | ||||||
U.S. Treasury Bills 0.082%–0.147% due 7/19–10/25/2012
|
682,800 | 682,729 | ||||||
Variable Funding Capital Company LLC 0.16%–0.19% due 7/16–8/27/20124
|
113,409 | 113,382 | ||||||
Wal-Mart Stores, Inc. 0.13% due 7/27/20124
|
24,500 | 24,498 | ||||||
Total short-term securities (cost: $4,138,728,000)
|
4,138,773 | |||||||
Total investment securities (cost: $43,857,415,000)
|
56,355,413 | |||||||
Other assets less liabilities
|
157,521 | |||||||
Net assets
|
$ | 56,512,934 |
(a)
|
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.
|
(b)
|
There were no changes in the Registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
|
(a)(1)
|
Not applicable for filing of semi-annual reports to shareholders.
|
(a)(2)
|
The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto.
|
THE INVESTMENT COMPANY OF AMERICA
|
|
By /s/ James B. Lovelace
|
|
James B. Lovelace, Vice Chairman and
Principal Executive Officer
|
|
Date: August 31, 2012
|
By /s/ James B. Lovelace
|
James B. Lovelace, Vice Chairman and
Principal Executive Officer
|
Date: August 31, 2012
|
By /s/ Brian D. Bullard
|
Brian D. Bullard, Treasurer and
Principal Financial Officer
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Date: August 31, 2012
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The Investment Company of America
333 South Hope Street
Los Angeles, California 90071
Phone (213) 486-9200
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1.
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I have reviewed this report on Form N-CSR of The Investment Company of America;
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2.
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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;
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3.
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Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
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4.
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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:
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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;
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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;
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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
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d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
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5.
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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):
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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
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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.
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The Investment Company of America
333 South Hope Street
Los Angeles, California 90071
Phone (213) 486-9200
|
1.
|
I have reviewed this report on Form N-CSR of The Investment Company of America;
|
2.
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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;
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3.
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Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
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4.
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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:
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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;
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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;
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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
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d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
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5.
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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):
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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
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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.
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The Investment Company of America
333 South Hope Street
Los Angeles, California 90071
Phone (213) 486-9200
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1)
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The Registrant's periodic report on Form N-CSR for the period ended June 30, 2012 (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
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2)
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The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.
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Principal Executive Officer
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Principal Financial Officer
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THE INVESTMENT COMPANY OF AMERICA
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THE INVESTMENT COMPANY OF AMERICA
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/s/ James B. Lovelace
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/s/ Brian D. Bullard
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James B. Lovelace, Vice Chairman
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Brian D. Bullard, Treasurer
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Date: August 31, 2012
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Date: August 31, 2012
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