NPORT-EX 3 edgar.htm EDGAR HTML
 
 
The New Economy Fund®
Investment portfolio
August 31, 2023
unaudited
 
Common stocks 94.32%
Information technology 30.63%
 
Shares
Value
(000)
Microsoft Corp.
4,743,266
$1,554,653
Broadcom, Inc.
1,563,386
1,442,833
Micron Technology, Inc.
6,478,075
453,077
Salesforce, Inc.1
1,799,202
398,451
NVIDIA Corp.
756,206
373,225
Taiwan Semiconductor Manufacturing Company, Ltd. (ADR)
2,900,667
271,416
Taiwan Semiconductor Manufacturing Company, Ltd.
5,731,000
98,796
SK hynix, Inc.
3,633,542
334,833
Applied Materials, Inc.
1,891,605
288,962
Apple, Inc.
1,511,814
284,025
Adobe, Inc.1
466,096
260,706
ASML Holding NV
387,435
255,388
Arista Networks, Inc.1
1,245,540
243,167
Motorola Solutions, Inc.
664,894
188,544
Insight Enterprises, Inc.1
1,119,355
179,198
ServiceNow, Inc.1
299,236
176,199
Palo Alto Networks, Inc.1
643,131
156,474
Shopify, Inc., Class A, subordinate voting shares1
2,337,310
155,408
Wolfspeed, Inc.1
3,011,457
144,008
TE Connectivity, Ltd.
911,459
120,668
Accenture PLC, Class A
327,509
106,038
MongoDB, Inc., Class A1
272,750
104,000
Smartsheet, Inc., Class A1
2,478,606
103,432
EPAM Systems, Inc.1
377,314
97,721
Marvell Technology, Inc.
1,580,588
92,069
SAP SE
625,497
87,373
Snowflake, Inc., Class A1
552,318
86,631
Globant SA1
399,127
81,610
eMemory Technology, Inc.
1,285,000
73,235
MediaTek, Inc.
3,037,400
67,240
Synopsys, Inc.1
129,879
59,600
RingCentral, Inc., Class A1
1,640,082
50,728
Renesas Electronics Corp.1
2,994,800
50,440
DoubleVerify Holdings, Inc.1
1,416,274
47,884
Monday.com, Ltd.1
266,751
47,332
Cloudflare, Inc., Class A1
602,437
39,176
Keyence Corp.
93,400
38,851
HubSpot, Inc.1
60,686
33,166
Datadog, Inc., Class A1
331,098
31,944
Seagate Technology Holdings PLC
440,860
31,209
Atlassian Corp., Class A1
142,406
29,059
Intuit, Inc.
49,254
26,686
Qorvo, Inc.1
231,785
24,891
Constellation Software, Inc.
12,100
24,854
OBIC Co., Ltd.
98,700
17,183
Autodesk, Inc.1
72,507
16,092
The New Economy Fund — Page 1 of 9
unaudited
Common stocks (continued)
Information technology (continued)
 
Shares
Value
(000)
Stripe, Inc., Class B1,2,3
63,586
$1,349
GitLab, Inc., Class A1
2,909
138
 
8,849,962
Health care 20.23%
 
 
 
UnitedHealth Group, Inc.
1,453,028
692,484
Thermo Fisher Scientific, Inc.
1,074,607
598,664
Eli Lilly and Company
966,367
535,561
agilon health, Inc.1,4
19,874,941
352,184
Alnylam Pharmaceuticals, Inc.1
1,425,506
281,994
Vertex Pharmaceuticals, Inc.1
741,082
258,148
Molina Healthcare, Inc.1
787,532
244,229
Novo Nordisk AS, Class B
1,288,084
238,760
Abbott Laboratories
2,161,050
222,372
Align Technology, Inc.1
548,788
203,128
Stryker Corp.
663,659
188,181
Catalent, Inc.1
3,559,948
177,891
Insulet Corp.1
640,567
122,803
Exact Sciences Corp.1
1,420,000
118,811
WuXi AppTec Co., Ltd., Class H
10,609,752
116,212
Humana, Inc.
242,782
112,075
GE HealthCare Technologies, Inc.
1,229,273
86,602
ICON PLC1
328,854
85,482
Zoetis, Inc., Class A
440,104
83,844
AbbVie, Inc.
568,348
83,524
WuXi Biologics (Cayman), Inc.1
14,780,000
83,207
Rede D’Or Sao Luiz SA
14,163,192
81,969
Centene Corp.1
1,216,048
74,969
Regeneron Pharmaceuticals, Inc.1
90,042
74,419
iRhythm Technologies, Inc.1
680,971
70,392
Argenx SE (ADR)1
134,874
67,773
AstraZeneca PLC
489,537
66,120
Bachem Holding AG
692,289
64,774
EssilorLuxottica SA
299,812
56,535
Lonza Group AG
98,908
54,742
Revance Therapeutics, Inc.1
2,520,779
44,441
Gilead Sciences, Inc.
576,416
44,084
Daiichi Sankyo Company, Ltd.
1,349,345
39,870
IQVIA Holdings, Inc.1
170,124
37,875
DexCom, Inc.1
369,928
37,355
NovoCure, Ltd.1
975,999
21,531
Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Class A
548,656
20,320
Penumbra, Inc.1
64,203
16,982
Idorsia, Ltd.1,4
2,969,247
16,289
HOYA Corp.
128,700
14,290
Siemens Healthineers AG
271,159
13,599
Sarepta Therapeutics, Inc.1
90,617
10,966
Seagen, Inc.1
51,359
10,584
BioMarin Pharmaceutical, Inc.1
114,393
10,453
Revvity, Inc.
57,918
6,778
 
5,843,266
The New Economy Fund — Page 2 of 9
unaudited
Common stocks (continued)
Financials 10.85%
 
Shares
Value
(000)
Mastercard, Inc., Class A
1,106,467
$456,572
Visa, Inc., Class A
1,021,254
250,902
Berkshire Hathaway, Inc., Class B1
575,902
207,440
Fiserv, Inc.1
1,640,968
199,197
KKR & Co., Inc.
2,765,236
173,684
AIA Group, Ltd.
17,154,000
155,740
RenaissanceRe Holdings, Ltd.
819,435
153,964
Nu Holdings, Ltd., Class A1
22,321,451
152,902
Kotak Mahindra Bank, Ltd.
6,792,143
144,295
HDFC Bank, Ltd. (ADR)
1,235,846
77,005
HDFC Bank, Ltd.
3,016,422
57,258
ICICI Bank, Ltd.
9,342,862
108,200
Tradeweb Markets, Inc., Class A
976,637
84,411
Marsh & McLennan Companies, Inc.
378,316
73,768
Discover Financial Services
765,002
68,904
Block, Inc., Class A1
1,155,905
66,638
Intercontinental Exchange, Inc.
490,244
57,844
Aon PLC, Class A
169,342
56,457
Affirm Holdings, Inc., Class A1
2,612,339
54,363
CME Group, Inc., Class A
266,102
53,933
Blackstone, Inc.
479,552
51,010
Bajaj Finserv, Ltd.
2,787,500
50,133
Adyen NV1
53,699
44,981
Star Health & Allied Insurance Co., Ltd.1
5,796,777
44,530
MSCI, Inc.
72,632
39,484
Arch Capital Group, Ltd.1
477,816
36,725
Morgan Stanley
428,593
36,495
JPMorgan Chase & Co.
244,369
35,758
LPL Financial Holdings, Inc.
144,465
33,312
Corebridge Financial, Inc.
1,698,134
30,278
Janus Henderson Group PLC
1,049,020
28,817
GMO Payment Gateway, Inc.
389,300
24,691
China Merchants Bank Co., Ltd., Class A
4,900,973
21,210
Jio Financial Services, Ltd.1
1,402,547
3,956
 
3,134,857
Consumer discretionary 9.77%
 
 
 
Amazon.com, Inc.1
4,351,875
600,602
MercadoLibre, Inc.1
299,509
411,034
Flutter Entertainment PLC1
1,109,833
202,059
Home Depot, Inc.
557,627
184,184
LVMH Moët Hennessy-Louis Vuitton SE
216,051
183,250
Airbnb, Inc., Class A1
1,189,236
156,444
Chipotle Mexican Grill, Inc.1
80,525
155,143
Evolution AB
1,361,628
147,524
Hilton Worldwide Holdings, Inc.
720,686
107,130
Amadeus IT Group SA, Class A, non-registered shares
1,158,751
79,536
Booking Holdings, Inc.1
20,980
65,143
Floor & Decor Holdings, Inc., Class A1
645,989
64,405
Rivian Automotive, Inc., Class A1,4
2,558,730
58,160
Tractor Supply Co.
265,952
58,110
Starbucks Corp.
529,719
51,616
Entain PLC
3,488,143
51,147
O’Reilly Automotive, Inc.1
54,149
50,884
YUM! Brands, Inc.
328,743
42,533
The New Economy Fund — Page 3 of 9
unaudited
Common stocks (continued)
Consumer discretionary (continued)
 
Shares
Value
(000)
NIKE, Inc., Class B
394,293
$40,104
adidas AG
177,164
35,428
Aptiv PLC1
247,656
25,125
DoorDash, Inc., Class A1
184,782
15,546
Sony Group Corp.
165,100
13,781
International Game Technology PLC
419,673
13,438
Light & Wonder, Inc.1
118,888
9,115
 
2,821,441
Industrials 9.15%
 
 
 
Ceridian HCM Holding, Inc.1
5,092,365
369,298
TransDigm Group, Inc.1
290,548
262,612
Airbus SE, non-registered shares
1,672,227
245,482
General Electric Co.
1,917,270
219,451
Carrier Global Corp.
3,193,544
183,469
Safran SA
1,100,476
176,966
L3Harris Technologies, Inc.
782,473
139,351
Quanta Services, Inc.
501,900
105,334
Copart, Inc.1
2,219,888
99,518
RTX Corp.
936,226
80,553
United Rentals, Inc.
165,781
79,001
CSX Corp.
2,186,674
66,037
Ryanair Holdings PLC (ADR)1
594,907
59,044
Siemens AG
338,884
51,034
Recruit Holdings Co., Ltd.
1,377,600
49,425
Boeing Company1
220,381
49,372
The Weir Group PLC
1,941,474
45,119
Huntington Ingalls Industries, Inc.
202,400
44,593
Rentokil Initial PLC
5,777,105
44,042
Canadian Pacific Kansas City, Ltd.
531,504
42,191
Old Dominion Freight Line, Inc.
87,869
37,553
Melrose Industries PLC
5,727,894
37,195
NIBE Industrier AB, Class B
4,126,328
30,972
Union Pacific Corp.
132,000
29,115
XPO, Inc.1
378,347
28,236
Stericycle, Inc.1
590,133
26,090
Shenzhen Inovance Technology Co., Ltd., Class A
1,853,527
17,360
Hefei Meyer Optoelectronic Technology, Inc., Class A
4,996,184
16,057
Grab Holdings, Ltd., Class A1
1,998,134
7,533
 
2,642,003
Communication services 6.46%
 
 
 
Alphabet, Inc., Class A1
3,399,188
462,867
Alphabet, Inc., Class C1
2,786,485
382,724
Meta Platforms, Inc., Class A1
1,234,707
365,337
Netflix, Inc.1
635,509
275,608
T-Mobile US, Inc.1
452,836
61,699
Charter Communications, Inc., Class A1
129,879
56,903
Comcast Corp., Class A
1,064,606
49,781
Warner Music Group Corp., Class A
1,399,254
46,595
New York Times Co., Class A
1,015,052
44,936
Epic Games, Inc.1,2,3
84,438
41,353
Live Nation Entertainment, Inc.1
433,144
36,614
Take-Two Interactive Software, Inc.1
243,453
34,619
The New Economy Fund — Page 4 of 9
unaudited
Common stocks (continued)
Communication services (continued)
 
Shares
Value
(000)
Activision Blizzard, Inc.
40,962
$3,768
ZoomInfo Technologies, Inc.1
187,800
3,384
 
1,866,188
Energy 3.56%
 
 
 
Halliburton Co.
4,383,107
169,276
Transocean, Ltd.1
17,331,918
141,775
Noble Corp. PLC, Class A
2,308,010
121,724
Gaztransport & Technigaz SA
751,586
93,153
Viper Energy Partners, LP
3,212,000
89,358
TechnipFMC PLC
4,283,000
81,548
Neste OYJ
2,169,337
79,461
Schlumberger NV
1,238,843
73,042
Weatherford International1
785,991
69,576
Baker Hughes Co., Class A
1,916,474
69,357
Reliance Industries, Ltd.
1,402,547
40,779
 
1,029,049
Consumer staples 1.86%
 
 
 
Dollar Tree Stores, Inc.1
914,146
111,855
Performance Food Group Co.1
1,606,500
99,812
Dollar General Corp.
536,950
74,368
Kroger Co.
1,404,189
65,140
Ocado Group PLC1
4,795,032
52,944
Costco Wholesale Corp.
82,323
45,218
Monster Beverage Corp.1
719,328
41,297
Seven & i Holdings Co., Ltd.4
674,900
27,744
Target Corp.
142,524
18,036
 
536,414
Materials 1.08%
 
 
 
Linde PLC
253,463
98,100
Air Liquide SA, non-registered shares
466,997
84,496
Corteva, Inc.
1,464,333
73,964
Air Products and Chemicals, Inc.
188,124
55,589
 
312,149
Utilities 0.59%
 
 
 
PG&E Corp.1
9,473,836
154,424
NextEra Energy, Inc.
251,983
16,832
 
171,256
Real estate 0.14%
 
 
 
Zillow Group, Inc., Class C, nonvoting shares1
406,420
21,199
Extra Space Storage, Inc. REIT
82,000
10,552
Equinix, Inc. REIT
9,603
7,503
 
39,254
Total common stocks (cost: $18,640,496,000)
27,245,839
The New Economy Fund — Page 5 of 9
unaudited
Preferred securities 0.16%
Consumer discretionary 0.14%
 
Shares
Value
(000)
Maplebear, Inc., Series H, noncumulative preferred shares1,2,3
830,425
$26,989
Maplebear, Inc., Series I, noncumulative preferred shares1,2,3
398,330
12,946
 
39,935
Information technology 0.02%
 
 
 
Stripe, Inc., Series BB-1, 6.00% noncumulative preferred shares1,2,3
218,360
4,634
Stripe, Inc., Series BB, 6.00% noncumulative preferred shares1,2,3
77,454
1,643
Stripe, Inc., Series H, 6.00% noncumulative preferred shares1,2,3
22,617
480
 
6,757
Total preferred securities (cost: $106,896,000)
46,692
Rights & warrants 0.00%
Information technology 0.00%
 
 
 
Constellation Software, Inc., rights, expire 9/29/20231
12,100
7
Total rights & warrants (cost: $6,000)
7
Convertible stocks 0.11%
Information technology 0.11%
 
 
 
Tarana Wireless, Inc., Series 6, noncumulative convertible preferred shares2,3
30,562,347
32,683
Tarana Wireless, Inc., Series 7, noncumulative convertible preferred shares2,3
922,043
986
Total convertible stocks (cost: $25,986,000)
33,669
Convertible bonds & notes 0.05%
Consumer discretionary 0.05%
 
Principal amount
(000)
 
Rivian Automotive, Inc., convertible notes, 4.625% 3/15/20295
USD9,991
13,853
Total convertible bonds & notes (cost: $9,991,000)
13,853
Short-term securities 5.57%
Money market investments 5.37%
 
Shares
 
Capital Group Central Cash Fund 5.39%6,7
15,492,430
1,549,243
Money market investments purchased with collateral from securities on loan 0.20%
 
 
 
Capital Group Central Cash Fund 5.39%6,7,8
421,915
42,192
Invesco Short-Term Investments Trust – Government & Agency Portfolio,
Institutional Class 5.25%6,8
15,973,418
15,973
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.23%6,8
272,204
272
 
58,437
Total short-term securities (cost: $1,607,393,000)
1,607,680
Total investment securities 100.21% (cost: $20,390,768,000)
28,947,740
Other assets less liabilities (0.21)%
(59,835
)
Net assets 100.00%
$28,887,905
The New Economy Fund — Page 6 of 9
unaudited
Investments in affiliates7
 
 
Value of
affiliates at
12/1/2022
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain
(000)
Net
unrealized
appreciation
(000)
Value of
affiliates at
8/31/2023
(000)
Dividend
income
(000)
Short-term securities 5.52%
Money market investments 5.37%
Capital Group Central Cash Fund 5.39%6
$2,988,551
$2,918,204
$4,357,738
$103
$123
$1,549,243
$76,259
Money market investments purchased with collateral
from securities on loan 0.15%
Capital Group Central Cash Fund 5.39%6,8
32,169
10,023
9
42,192
—
10
Total 5.52%
$103
$123
$1,591,435
$76,259
Restricted securities3
 
 
Acquisition
date(s)
Cost
(000)
Value
(000)
Percent
of net
assets
Epic Games, Inc.1,2
3/29/2021
$74,728
$41,353
.14
%
Maplebear, Inc., Series H, noncumulative preferred shares1,2
11/13/2020
49,826
26,989
.09
Maplebear, Inc., Series I, noncumulative preferred shares1,2
2/26/2021
49,791
12,946
.05
Tarana Wireless, Inc., Series 6,
noncumulative convertible preferred shares2
2/18/2022
25,000
32,683
.11
Tarana Wireless, Inc., Series 7,
noncumulative convertible preferred shares2
6/27/2023
986
986
.00
11
Stripe, Inc., Series BB-1, 6.00% noncumulative preferred shares1,2
8/24/2023
4,703
4,634
.02
Stripe, Inc., Series BB, 6.00% noncumulative preferred shares1,2
8/24/2023
1,668
1,643
.01
Stripe, Inc., Class B1,2
5/6/2021 - 8/24/2023
2,346
1,349
.01
Stripe, Inc., Series H, 6.00% noncumulative preferred shares1,2
3/15/2021
908
480
.00
11
Total
 
$209,956
$123,063
.43
%
 
1
Security did not produce income during the last 12 months.
2
Value determined using significant unobservable inputs.
3
Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all
such restricted securities was $123,063,000, which represented .43% of the net assets of the fund.
4
All or a portion of this security was on loan. The total value of all such securities was $62,444,000, which represented .22% of the net assets of the fund.
5
Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in
the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $13,853,000, which
represented .05% of the net assets of the fund.
6
Rate represents the seven-day yield at 8/31/2023.
7
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
8
Security purchased with cash collateral from securities on loan.
9
Represents net activity.
10
Dividend income is included with securities lending income and is not shown in this table.
11
Amount less than .01%.
Valuation disclosures
Capital Research and Management Company (“CRMC”), the fund’s investment adviser, values the fund’s investments at fair value as defined by accounting principles generally accepted in the United States of America. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. Security transactions are recorded by the fund as of the date the trades are executed with brokers. Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date.
The New Economy Fund — Page 7 of 9
unaudited
Methods and inputs — The fund’s investment adviser uses the following methods and inputs to establish the fair value of the fund’s assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.
Equity securities, including depositary receipts, are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades.
Fixed-income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the fund is authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income security. 
Fixed-income class
Examples of standard inputs
All
Benchmark yields, transactions, bids, offers, quotations from dealers and
trading systems, new issues, spreads and other relationships observed in
the markets among comparable securities; and proprietary pricing
models such as yield measures calculated using factors such as cash flows,
financial or collateral performance and other reference data (collectively
referred to as “standard inputs”)
Corporate bonds, notes & loans; convertible securities
Standard inputs and underlying equity of the issuer
Bonds & notes of governments & government agencies
Standard inputs and interest rate volatilities
Mortgage-backed; asset-backed obligations
Standard inputs and cash flows, prepayment information, default rates,
delinquency and loss assumptions, collateral characteristics, credit
enhancements and specific deal information
Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund’s investment adviser. The Capital Group Central Cash Fund (“CCF”), a fund within the Capital Group Central Fund Series (“Central Funds“), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF’s portfolio securities. The underlying securities are valued based on the policies and procedures in CCF’s statement of additional information.
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by the fund’s investment adviser and approved by the board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, contractual or legal restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.
Processes and structure — The fund’s board of trustees has designated the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Committee”) to administer, implement and oversee the fair valuation process and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser’s global risk management group. The Committee reports changes to the fair valuation guidelines to the board of trustees. The fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.
The New Economy Fund — Page 8 of 9
unaudited
Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The following table presents the fund’s valuation levels as of August 31, 2023 (dollars in thousands): 
 
Investment securities
 
Level 1
Level 2
Level 3
Total
Assets:
Common stocks:
Information technology
$8,848,613
$—
$1,349
$8,849,962
Health care
5,843,266
—
—
5,843,266
Financials
3,134,857
—
—
3,134,857
Consumer discretionary
2,821,441
—
—
2,821,441
Industrials
2,642,003
—
—
2,642,003
Communication services
1,824,835
—
41,353
1,866,188
Energy
1,029,049
—
—
1,029,049
Consumer staples
536,414
—
—
536,414
Materials
312,149
—
—
312,149
Utilities
171,256
—
—
171,256
Real estate
39,254
—
—
39,254
Preferred securities
—
—
46,692
46,692
Rights & warrants
7
—
—
7
Convertible stocks
—
—
33,669
33,669
Convertible bonds & notes
—
13,853
—
13,853
Short-term securities
1,607,680
—
—
1,607,680
Total
$28,810,824
$13,853
$123,063
$28,947,740
 
Key to abbreviations
ADR = American Depositary Receipts
REIT = Real Estate Investment Trust
USD = U.S. dollars
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
American Funds Distributors, Inc., member FINRA.
© 2023 Capital Group. All rights reserved.
MFGEFP3-014-1023O-S96428
The New Economy Fund — Page 9 of 9