American Funds - Portfolio holdings | American Funds

Portfolio Holdings

American Funds Insurance Series - Global Balanced Fund

As of September 30, 2019 (updated quarterly, upon availability)

Fixed-Income Securities* Shares or Principal Amount Market Value
ACE INA Holdings Inc. 2.875% 2022 10,000 10,254
ACE INA Holdings Inc. 3.35% 2026 10,000 10,690
ACE INA Holdings Inc. 4.35% 2045 20,000 24,596
AT&T Inc. 4.10% 2028 55,000 59,609
AbbVie Inc. 2.50% 2020 180,000 180,429
AbbVie Inc. 2.90% 2022 60,000 61,192
AbbVie Inc. 3.20% 2026 73,000 74,394
AbbVie Inc. 4.50% 2035 15,000 16,196
Abbott Laboratories 3.75% 2026 51,000 55,616
Abu Dhabi (Emirate of) 2.50% 2022 200,000 202,252
Abu Dhabi (Emirate of) 3.125% 2027 200,000 210,473
Abu Dhabi National Energy Co. PJSC (TAQA) 3.625% 2023 200,000 206,191
Aetna Inc. 2.75% 2022 50,000 50,618
Aetna Inc. 2.80% 2023 10,000 10,134
Allergan PLC 3.00% 2020 30,000 30,089
Allergan PLC 4.75% 2045 3,000 3,186
Allianz SE 4.75% (3-month EUR-EURIBOR + 3.60% on 10/24/2023) 100,000 125,330
Altria Group, Inc. 1.00% 2023 110,000 122,037
Altria Group, Inc. 2.20% 2027 270,000 314,174
Altria Group, Inc. 2.625% 2020 100,000 100,035
Altria Group, Inc. 5.80% 2039 125,000 145,202
Amazon.com, Inc. 2.80% 2024 170,000 176,997
Amazon.com, Inc. 3.15% 2027 50,000 53,185
American Campus Communities, Inc. 3.35% 2020 15,000 15,164
American Campus Communities, Inc. 3.75% 2023 100,000 104,199
American Campus Communities, Inc. 4.125% 2024 90,000 96,357
American Electric Power Co., Inc. 2.15% 2020 215,000 215,158
Amgen Inc. 1.85% 2021 20,000 19,933
Anheuser-Busch InBev NV 4.00% 2028 100,000 110,488
Apple Inc. 2.50% 2022 75,000 76,186
AstraZeneca PLC 2.375% 2022 110,000 110,849
AstraZeneca PLC 3.50% 2023 150,000 156,857
Austrian Government, 0.00% 2024 200,000 224,615
Banco del Estado de Chile 2.668% 2021 500,000 500,377
Bank of America Corp. 3.419% 2028 (3-month USD-LIBOR + 1.04% on 12/20/2027) 236,000 246,449
Bank of America Corp. 3.55% 2024 (3-month USD-LIBOR + 0.78% on 3/5/2023) 100,000 104,049
Barclays Bank PLC 10.00% 2021 100,000 139,077
Bayer US Finance II LLC 3.875% 2023 200,000 209,075
Bayer US Finance II LLC 4.40% 2044 100,000 101,171
Bayerische Motoren Werke AG 2.95% 2022 250,000 255,198
Becton, Dickinson and Co. 2.894% 2022 55,000 55,858
Becton, Dickinson and Co. 3.70% 2027 43,000 45,597
Becton, Dickinson and Co. 3.734% 2024 35,000 37,062
Belgium (Kingdom of), Series 77, 1.00% 2026 135,000 161,994
Belgium (Kingdom of), Series 85, 0.80% 2028 360,000 431,652
Brazil (Federative Republic of) 0% 2021 3,000 661,550
Bristol-Myers Squibb Co. 3.10% 2024 178,000 183,794
British American Tobacco PLC 2.789% 2024 75,000 74,371
British American Tobacco PLC 3.215% 2026 62,000 61,478
British American Tobacco PLC 3.462% 2029 75,000 73,544
British American Tobacco PLC 3.557% 2027 105,000 105,676
British American Tobacco PLC 4.39% 2037 80,000 77,808
British American Tobacco PLC 4.758% 2049 58,000 56,830
Broadcom Ltd. 3.875% 2027 190,000 191,152
CMS Energy Corp. 3.00% 2026 150,000 153,973
CaixaBank, SA 3.50% 2027 (5-year EUR Mid-Swap + 3.35% on 2/15/2022) 100,000 115,463
Capital Group Central Cash Fund 227,907 22,788,469
Cenovus Energy Inc. 4.25% 2027 65,000 67,831
Chile (Banco Central de) 4.00% 2023 415,000,000 604,536
Chile (Banco Central de) 4.50% 2026 240,000,000 368,137
Chile (Republic of) 5.50% 2020 50,000,000 70,496
China (People's Republic of), Series 1910, 3.86% 2049 2,000,000 285,600
China Development Bank Corp. Series 1905 3.48% 2029 14,400,000 1,983,550
China Development Bank Corp., Series 1805, 4.04% 2028 4,000,000 571,683
Cigna Corp. 4.125% 2025 80,000 86,257
Colombia (Republic of) 4.375% 2021 200,000 207,352
Colombia (Republic of), Series B, 10.00% 2024 718,000,000 249,205
Colombia (Republic of), Series B, 6.25% 2025 803,000,000 241,107
Comcast Corp. 3.95% 2025 80,000 87,170
Conagra Brands, Inc. 4.30% 2024 210,000 225,495
Core Industrial Trust, Series 2015-CALW, Class A, 3.04% 2034 47,434 48,468
Corporate Office Properties LP 3.60% 2023 65,000 66,253
DaimlerChrysler North America Holding Corp. 2.00% 2021 200,000 198,877
Deutsche Telekom International Finance BV 1.95% 2021 150,000 149,048
Deutsche Telekom International Finance BV 9.25% 2032 45,000 70,906
Duke Energy Carolinas, Inc. 3.05% 2023 280,000 289,905
Duke Energy Carolinas, Inc. 3.70% 2047 50,000 54,406
Duke Energy Corp. 2.65% 2026 225,000 226,256
Duke Energy Corp. 3.75% 2024 110,000 116,700
Duke Energy Progress, LLC 3.70% 2028 75,000 82,407
EMD Finance LLC 2.40% 2020 200,000 200,005
EMD Finance LLC 3.25% 2025 250,000 255,947
El Paso Pipeline Partners Operating Co., LLC 4.70% 2042 75,000 79,196
Enbridge Inc. 3.70% 2027 132,000 139,606
Enbridge Inc. 4.25% 2026 70,000 76,649
Enel Finance International SA 2.75% 2023 200,000 201,398
Enel Finance International SA 3.50% 2028 400,000 410,066
Enel Finance International SA 3.625% 2027 200,000 207,765
Enersis Américas SA 4.00% 2026 110,000 115,775
Essex Portfolio LP 3.375% 2026 40,000 41,838
Essex Portfolio LP 3.50% 2025 120,000 125,577
European Investment Bank 2.25% 2022 225,000 228,218
Exelon Corp. 3.40% 2026 150,000 156,938
Exelon Corp., junior subordinated, 3.497% 2022 25,000 25,663
Fannie Mae Pool #BO2188 4.00% 2049 81,552 84,843
Fannie Mae Pool #FM1437 4.00% 2048 287,080 299,290
Fannie Mae Pool #MA3467 4.00% 2048 502,093 522,798
Fannie Mae Pool #MA3521 4.00% 2048 78,952 82,119
Fannie Mae Pool #MA3664 4.00% 2049 599,396 621,821
Fannie Mae Pool #MA3692 3.50% 2049 454,458 467,758
Fannie Mae Pool #MA3693 4.00% 2049 956,519 994,824
Fannie Mae Pool #MA3775 3.50% 2049 255,248 262,387
Fannie Mae Pool #MA3776 4.00% 2049 613,779 639,232
Fannie Mae Pool #MA3804 4.00% 2049 83,101 86,446
FirstEnergy Corp. 3.50% 2028 65,000 67,894
FirstEnergy Corp. 3.90% 2027 250,000 266,634
France Télécom 9.00% 2031 65,000 101,445
Freddie Mac Pool #2B7343 3.801% 2049 407,801 422,443
Freddie Mac Pool #ZT1545 4.00% 2048 1,838,853 1,907,045
French Republic O.A.T. 0.10% 2029 281,453 344,985
French Republic O.A.T. 0.75% 2028 450,000 539,166
French Republic O.A.T. 3.25% 2045 260,000 482,264
General Electric Capital Corp. 3.15% 2022 50,000 50,823
Germany (Federal Republic of) 0.10% 2026 294,703 355,633
Germany (Federal Republic of) 0.25% 2029 205,000 241,932
Germany (Federal Republic of) 0.50% 2026 200,000 236,008
Germany (Federal Republic of) 0.50% 2030 290,210 386,537
Germany (Federal Republic of) 1.25% 2048 125,000 190,236
Germany (Federal Republic of) 2.25% 2021 60,000 69,251
Germany (Federal Republic of) 2.50% 2046 315,000 590,799
Goldman Sachs Group, Inc. 2.905% 2023 (3-month USD-LIBOR + 0.99% on 7/24/2022) 130,000 131,898
Goldman Sachs Group, Inc. 3.50% 2025 210,000 219,241
Goldman Sachs Group, Inc. 4.75% 2045 70,000 84,298
Goldman Sachs Group, Inc. 5.75% 2022 70,000 75,444
Government National Mortgage Assn. 4.50% 2049 30,445 31,825
Government National Mortgage Assn. Pool #MA5876 4.00% 2049 133,888 139,317
Government National Mortgage Assn. Pool #MA5931 4.00% 2049 4,571 4,762
Government National Mortgage Assn. Pool #MA5932 4.50% 2049 37,560 39,430
Government National Mortgage Assn. Pool #MA5986 4.00% 2049 28,599 29,820
Government National Mortgage Assn. Pool #MA5987 4.50% 2049 717,489 753,816
Government National Mortgage Assn. Pool #MA6041 4.5% 2049 354,588 373,581
Greece (Hellenic Republic of) 3.375% 2025 430,000 530,474
Greece (Hellenic Republic of) 3.45% 2024 355,000 433,973
Greece (Hellenic Republic of) 3.75% 2028 400,000 520,828
Greece (Hellenic Republic of) 3.875% 2029 750,000 1,000,589
Greece (Hellenic Republic of) 3.90% 2033 240,000 327,385
Greece (Hellenic Republic of) 4.00% 2037 250,000 349,498
Greece (Hellenic Republic of) 4.20% 2042 250,000 365,515
Groupe BPCE SA 1.00% 2025 200,000 226,216
Groupe BPCE SA 5.70% 2023 200,000 220,653
HSBC Holdings PLC 4.292% 2026 (3-month USD-LIBOR + 1.348% on 9/12/2025) 200,000 214,842
Halliburton Co. 3.80% 2025 35,000 37,146
Humana Inc. 3.15% 2022 100,000 102,433
Hyundai Capital America 2.55% 2020 135,000 134,996
Hyundai Capital America 3.25% 2022 65,000 65,949
Hyundai Capital Services Inc. 3.75% 2023 250,000 258,409
India (Republic of) 6.97% 2026 52,300,000 751,159
India (Republic of) 7.17% 2028 15,700,000 226,988
India (Republic of) 7.68% 2023 15,900,000 235,177
India (Republic of) 8.83% 2023 10,400,000 159,795
Indonesia (Republic of) 3.75% 2022 410,000 423,324
Indonesia (Republic of) 3.85% 2027 400,000 423,182
Indonesia (Republic of), Series 64, 6.125% 2028 344,000,000 22,499
Indonesia (Republic of), Series 78, 8.25% 2029 7,203,000,000 542,866
Ireland (Republic of) 0.90% 2028 350,000 415,821
Ireland (Republic of) 2.40% 2030 30,000 40,943
Ireland (Republic of) 3.40% 2024 50,000 64,044
Israel (State of) 1.50% 2027 100,000 120,427
Israel (State of) 2.00% 2027 2,100,000 659,231
Israel (State of) 3.15% 2023 400,000 417,620
Israel (State of) 4.125% 2048 205,000 241,324
Israel (State of) 5.50% 2042 1,000,000 479,132
Italy (Republic of) 0.10% 2023 1,578,441 1,749,006
Italy (Republic of) 1.35% 2022 180,000 203,577
Italy (Republic of) 2.80% 2028 200,000 257,939
Italy (Republic of) 3.0% 2029 490,000 643,976
Italy (Republic of) 3.85% 2049 180,000 284,550
JPMorgan Chase & Co. 2.55% 2021 76,000 76,512
JPMorgan Chase & Co. 2.70% 2023 150,000 152,671
JPMorgan Chase & Co. 3.25% 2022 28,000 28,958
JPMorgan Chase & Co., Series S, junior subordinated, 6.75% (3-month USD-LIBOR + 3.78% on 2/1/2024) 135,000 149,947
JPMorgan Chase Bank NA (3-month USD-LIBOR + 0.34%) 2.607% 2021 300,000 300,192
Japan, Series 134, 0.10% 2022 31,900,000 299,494
Japan, Series 161, 0.60% 2037 170,000,000 1,703,512
Japan, Series 17, 0.10% 2023 10,480,000 99,057
Japan, Series 18, 0.10% 2024 20,840,000 197,655
Japan, Series 19, 0.10% 2024 30,390,000 289,214
Japan, Series 21, 0.10% 2026 40,575,200 388,948
Japan, Series 22, 0.10% 2027 25,433,250 245,093
Japan, Series 23, 0.10% 2028 191,464,776 1,847,746
Japan, Series 24, 0.10% 2029 213,773,280 2,064,024
Japan, Series 340, 0.40% 2025 20,000,000 193,622
Japan, Series 346, 0.10% 2027 304,250,000 2,913,923
Japan, Series 394, 0.10% 2020 87,800,000 815,559
Japan, Series 395, 0.10% 2020 320,500,000 2,978,061
Japan, Series 42, 1.70% 2044 94,100,000 1,165,449
Japan, Series 62, 0.50% 2049 151,700,000 1,462,900
Japan, Series 63, 0.40% 2049 41,000,000 384,659
KT Corp. 0.30% 2020 100,000,000 925,848
Keurig Dr Pepper Inc. 4.597% 2028 175,000 196,895
KfW 2.125% 2022 250,000 252,733
Korea Housing Finance Corp. 2.00% 2021 250,000 248,717
Korea Housing Finance Corp. 2.50% 2020 250,000 251,245
Kroger Co. 3.50% 2026 140,000 146,028
Kuwait (State of) 2.75% 2022 200,000 202,931
Lima Metro Line Finance Ltd. 5.875% 2034 200,000 220,685
Lithuania (Republic of) 7.375% 2020 100,000 101,878
Malaysia (Federation of), Series 0119, 3.906% 2026 1,380,000 340,928
Malaysia (Federation of), Series 0418, 4.893% 2038 2,800,000 773,667
McDonald's Corp. 3.50% 2020 50,000 50,582
McDonald's Corp. 3.80% 2028 110,000 120,589
Medtronic, Inc. 3.50% 2025 45,000 48,340
Microsoft Corp. 2.40% 2026 297,000 303,231
Microsoft Corp. 3.30% 2027 280,000 302,082
Mizuho Financial Group, Ltd. 2.721% 2023 (3-month USD-LIBOR on 7/16/2022) 271,000 273,358
Morgan Stanley 3.125% 2026 110,000 113,381
Morgan Stanley 4.431% 2030 (3-month USD-LIBOR + 1.628% on 1/23/2029) 73,000 82,090
Morocco (Kingdom of) 3.50% 2024 100,000 123,595
Morocco (Kingdom of) 4.25% 2022 200,000 209,596
Myriad International Holdings 5.50% 2025 250,000 279,057
Myriad International Holdings 6.00% 2020 250,000 256,459
NBCUniversal Media, LLC 4.375% 2021 50,000 51,784
National Highways Authority of India 7.17% 2021 30,000,000 426,894
Netherlands (Kingdom of the) 5.50% 2028 100,000 164,711
NiSource Finance Corp. 2.65% 2022 50,000 50,630
Niagara Mohawk Power Corp. 3.508% 2024 85,000 89,727
Nissan Motor Co., Ltd. 2.15% 2020 120,000 119,840
Nissan Motor Co., Ltd. 2.60% 2022 115,000 115,426
Norway (Kingdom of) 2.00% 2023 6,599,000 743,702
Norway (Kingdom of) 3.75% 2021 7,251,000 830,356
Nova Scotia (Province of) 3.15% 2051 170,000 149,517
Nykredit Realkredit AS, Series 01E, 1.50% 2037 1,525,778 229,871
Nykredit Realkredit AS, Series 01E, 1.50% 2040 3,656,631 550,100
Oracle Corp. 2.65% 2026 216,000 220,651
PNC Financial Services Group, Inc. 2.854% 2022 100,000 102,020
Pacific Gas and Electric Co. 2.95% 2026 25,000 24,750
Pacific Gas and Electric Co. 4.65% 2028 114,000 121,410
Pacific Gas and Electric Co. 6.35% 2038 62,000 72,540
Pernod Ricard SA 4.45% 2022 150,000 157,422
Peru (Republic of) 5.625% 2050 20,000 29,350
Peru (Republic of) 6.15% 2032 675,000 229,625
Petroleos Mexicanos 6.35% 2048 55,000 50,746
Petróleos Mexicanos 7.19% 2024 5,348 23,781
Petróleos Mexicanos 7.47% 2026 92,700 392,239
Philip Morris International Inc. 2.00% 2020 55,000 54,977
Philip Morris International Inc. 2.625% 2022 15,000 15,186
Philip Morris International Inc. 2.90% 2021 100,000 101,616
Poland (Republic of), Series 0922, 5.75% 2022 870,000 242,913
Poland (Republic of), Series 1021, 5.75% 2021 1,710,000 463,069
Poland (Republic of), Series 1023, 4.00% 2023 400,000 108,646
Portuguese Republic 5.125% 2024 250,000 285,333
President & Fellows of Harvard College 3.619% 2037 150,000 168,572
Qatar (State of) 4.50% 2028 500,000 570,882
Rabobank Nederland 3.875% 2023 100,000 124,548
Red de Carreteras de Occidente 9.00% 2028 2,000,000 103,375
Reynolds American Inc. 4.00% 2022 15,000 15,632
Reynolds American Inc. 4.45% 2025 105,000 112,105
Roche Holdings, Inc. 3.35% 2024 200,000 212,141
Romania 2.875% 2029 100,000 123,317
Romania 3.375% 2038 250,000 313,967
Romania 3.50% 2034 65,000 82,233
Romania 3.875% 2035 170,000 222,924
Romania 4.125% 2039 125,000 166,521
Romania 4.625% 2049 700,000 992,320
Russian Federation 2.875% 2025 200,000 244,915
Russian Federation 2.875% 2025 100,000 122,457
Russian Federation 6.90% 2029 16,250,000 250,677
Russian Federation 7.00% 2023 8,000,000 125,102
Russian Federation 7.25% 2034 8,140,000 126,757
Russian Federation 7.70% 2033 1,530,000 24,759
Russian Federation 8.50% 2031 5,530,000 95,376
Saudi Arabia (Kingdom of) 2.894% 2022 200,000 203,097
Saudi Arabia (Kingdom of) 3.625% 2028 200,000 212,383
Shell International Finance BV 3.50% 2023 330,000 349,958
Shire PLC 2.40% 2021 153,000 153,755
Shire PLC 2.875% 2023 69,000 70,430
Shire PLC 3.20% 2026 25,000 25,821
Skandinaviska Enskilda Banken AB 2.80% 2022 250,000 253,430
South Africa (Republic of), Series R-2044, 8.75% 2044 6,275,000 369,477
South Africa (Republic of), Series R-2048, 8.75% 2048 6,300,000 367,982
South Africa (Republic of), Series R-214, 6.50% 2041 10,150,000 471,578
South Korea (Republic of), Series 2106, 4.25% 2021 262,000,000 229,678
South Korea (Republic of), Series 2209, 2.00% 2022 560,000,000 476,882
South Korea (Republic of), Series 2812, 2.375% 2028 850,610,000 766,947
South Korea (Republic of), Series 3809, 2.375% 2038 803,510,000 775,041
Spain (Kingdom of) 1.40% 2028 270,000 328,804
Spain (Kingdom of) 1.45% 2027 1,150,000 1,400,633
State Grid Overseas Investment Ltd. 1.25% 2022 100,000 112,344
State Grid Overseas Investment Ltd. 3.50% 2027 450,000 475,452
Statoil ASA 3.15% 2022 160,000 164,365
Statoil ASA 3.70% 2024 50,000 53,559
Sweden (Kingdom of) 1.125% 2019 200,000 199,905
Takeda Pharmaceutical Co., Ltd. 2.25% 2026 200,000 244,277
Takeda Pharmaceutical Co., Ltd. 4.40% 2023 200,000 215,547
Thailand (Kingdom of) 2.125% 2026 16,450,000 563,210
Thomson Reuters Corp. 4.30% 2023 75,000 80,025
Total Capital International 2.875% 2022 150,000 153,439
Toyota Motor Credit Corp. 2.25% 2023 85,000 85,738
U.S. Treasury 1.00% 2019 1,000,000 999,100
U.S. Treasury 1.125% 2021 1,025,000 1,014,976
U.S. Treasury 1.375% 2020 700,000 697,760
U.S. Treasury 1.375% 2021 550,000 546,975
U.S. Treasury 1.375% 2023 300,000 297,897
U.S. Treasury 1.50% 2020 350,000 349,010
U.S. Treasury 1.625% 2022 2,850,000 2,853,221
U.S. Treasury 1.625% 2026 535,000 535,284
U.S. Treasury 1.625% 2026 440,000 440,251
U.S. Treasury 1.75% 2020 564,000 563,757
U.S. Treasury 1.75% 2023 100,000 100,611
U.S. Treasury 1.875% 2022 700,000 704,039
U.S. Treasury 1.875% 2022 600,000 604,662
U.S. Treasury 2.00% 2021 108,000 108,828
U.S. Treasury 2.00% 2022 75,000 75,705
U.S. Treasury 2.00% 2022 455,000 460,833
U.S. Treasury 2.125% 2020 200,000 200,524
U.S. Treasury 2.125% 2024 2,025,000 2,077,407
U.S. Treasury 2.125% 2024 3,055,000 3,148,025
U.S. Treasury 2.125% 2025 200,000 205,702
U.S. Treasury 2.25% 2021 5,000,000 5,040,700
U.S. Treasury 2.25% 2024 200,000 206,614
U.S. Treasury 2.25% 2027 700,000 730,345
U.S. Treasury 2.25% 2027 2,800,000 2,927,736
U.S. Treasury 2.25% 2027 1,000,000 1,046,030
U.S. Treasury 2.375% 2027 1,500,000 1,581,015
U.S. Treasury 2.375% 2029 1,930,000 2,050,336
U.S. Treasury 2.50% 2020 420,000 421,764
U.S. Treasury 2.50% 2020 120,000 121,045
U.S. Treasury 2.50% 2021 1,945,000 1,963,302
U.S. Treasury 2.50% 2045 315,000 339,255
U.S. Treasury 2.625% 2020 100,000 100,715
U.S. Treasury 2.625% 2023 800,000 827,728
U.S. Treasury 2.625% 2023 105,000 109,551
U.S. Treasury 2.625% 2029 282,000 305,319
U.S. Treasury 2.75% 2023 420,000 437,531
U.S. Treasury 2.75% 2023 101,000 105,515
U.S. Treasury 2.875% 11-15-21 2,250,000 2,307,510
U.S. Treasury 2.875% 2020 927,000 937,614
U.S. Treasury 2.875% 2023 2,250,000 2,365,673
U.S. Treasury 2.875% 2028 1,695,000 1,861,093
U.S. Treasury 2.875% 2028 700,000 769,797
U.S. Treasury 2.875% 2046 400,000 463,296
U.S. Treasury 2.875% 2049 330,000 385,189
U.S. Treasury 3.00% 2025 900,000 972,405
U.S. Treasury 3.00% 2044 355,000 417,434
U.S. Treasury 3.00% 2045 100,000 117,846
U.S. Treasury 3.00% 2048 235,600 280,373
U.S. Treasury 3.125% 2028 900,000 1,010,700
U.S. Treasury Inflation-Protected Security 0.125% 2022 222,605 220,502
U.S. Treasury Inflation-Protected Security 0.25% 2029 902,736 912,011
U.S. Treasury Inflation-Protected Security 0.375% 2027 371,753 376,422
U.S. Treasury Inflation-Protected Security 0.375% 2027 225,505 229,391
U.S. Treasury Inflation-Protected Security 0.875% 2029 4,293,065 4,564,770
U.S. Treasury Inflation-Protected Security 1.00% 2049 2,294,123 2,599,859
U.S. Treasury Inflation-Protected Security 1.375% 2044 522,918 628,140
US Bancorp 2.85% 2023 300,000 307,211
UniCredit SpA 5.75% 2025 100,000 114,995
Uniform Mortgage-Backed Security 4.00% 2049 84,809 88,023
Union Pacific Corp. 2.95% 2023 100,000 102,486
United Kingdom (Government of), 0% 2019 425,000 522,428
United Kingdom (Government of), 0% 2019 20,000 24,581
United Kingdom 1.75% 2022 280,000 358,884
United Kingdom 2.75% 2024 50,000 68,934
United Kingdom 3.25% 2044 250,000 459,038
United Kingdom 3.75% 2020 75,000 94,983
United Kingdom 4.25% 2040 50,000 100,966
United Mexican States 0.70% 2021 100,000,000 931,193
United Mexican States, Series M, 5.75% 2026 107,000 513,729
United Mexican States, Series M, 7.50% 2027 205,000 1,079,538
United Mexican States, Series M20, 8.50% 2029 70,000 395,156
United Technologies Corp. 3.10% 2022 106,000 109,166
United Technologies Corp. 4.125% 2028 170,000 192,539
Uruguay (Oriental Republic of) 8.50% 2028 6,963,000 159,537
Uruguay (Oriental Republic of) 9.875% 2022 1,050,000 28,281
VEB Finance Ltd. 6.902% 2020 100,000 103,048
Verizon Communications Inc. 4.272% 2036 248,000 279,745
Verizon Communications Inc. 4.329% 2028 120,000 136,231
Volkswagen Group of America Finance, LLC 4.25% 2023 380,000 405,152
WEA Finance LLC 3.75% 2024 200,000 212,093
Wal-Mart Stores, Inc. 2.85% 2024 110,000 114,461
Equity Securities* Shares or Principal Amount Market Value Percent of Net Assets
AIA Group Ltd. 426,000 4,024,816 0.96
ASML Holding NV 25,800 6,390,431 1.52
Airbus SE, non-registered shares 16,400 2,130,721 0.51
Akzo Nobel NV 18,777 1,673,913 0.40
Alibaba Group Holding Ltd. (ADR) 13,700 2,291,051 0.55
Alphabet Inc., Class C 3,579 4,362,801 1.04
Altria Group, Inc. 87,000 3,558,300 0.85
Amazon.com, Inc. 1,375 2,386,876 0.57
Amphenol Corp., Class A 19,200 1,852,800 0.44
Anheuser-Busch InBev SA/NV 22,900 2,181,991 0.52
AstraZeneca PLC 102,050 9,110,782 2.17
B3 SA - Brasil, Bolsa, Balcao 376,000 3,948,274 0.94
BAE Systems PLC 170,000 1,191,434 0.28
Bank Central Asia Tbk PT 782,000 1,671,976 0.40
Berkshire Hathaway Inc., Class A 21 6,548,472 1.56
Biogen Inc. 2,800 651,896 0.16
BlackRock, Inc. 5,730 2,553,517 0.61
Boeing Co. 11,250 4,280,288 1.02
British American Tobacco PLC 156,300 5,779,773 1.38
Broadcom Inc. 26,895 7,424,903 1.77
Budweiser Brewing Co., APAC Ltd. 101,600 366,675 0.09
Budweiser Brewing Co., APAC Ltd. 234,400 843,370 0.20
Bunzl PLC 60,600 1,583,353 0.38
CSX Corp. 30,000 2,078,100 0.50
Canadian Natural Resources, Ltd. 65,805 1,750,860 0.42
Carl Zeiss Meditec AG, non-registered shares 14,700 1,675,929 0.40
Carnival Corp., units 17,000 743,070 0.18
Cigna Corp. 10,310 1,564,955 0.37
Coca-Cola Co. 32,000 1,742,080 0.42
Coca-Cola European Partners PLC 30,000 1,663,500 0.40
Coca-Cola FEMSA, SAB de CV, units 150,000 912,815 0.22
Coloplast A/S, Class B 21,200 2,553,303 0.61
ConocoPhillips 27,000 1,538,460 0.37
Corteva, Inc. 10,982 307,496 0.07
Croda International PLC 27,388 1,636,601 0.39
Crown Castle International Corp. REIT 23,940 3,327,899 0.79
Dow Inc. 10,982 523,292 0.12
Edenred SA 66,528 3,192,712 0.76
Enbridge Inc. 11,523 404,438 0.10
Equinix, Inc. REIT 3,755 2,165,884 0.52
FinecoBank SpA 125,000 1,323,199 0.32
Fisher & Paykel Healthcare Corp. Ltd. 134,000 1,451,657 0.35
Gaming and Leisure Properties, Inc. REIT 59,720 2,283,693 0.54
General Motors Co. 110,500 4,141,540 0.99
Gilead Sciences, Inc. 17,500 1,109,150 0.26
Givaudan SA 735 2,050,238 0.49
GlaxoSmithKline PLC 93,300 2,001,353 0.48
HDFC Bank Ltd. (ADR) 26,780 1,527,799 0.36
Hang Seng Bank Ltd. 114,000 2,458,119 0.59
Home Depot, Inc. 22,275 5,168,246 1.23
Humana Inc. 16,330 4,175,091 1.00
Infosys Ltd. 214,650 2,440,182 0.58
Intel Corp. 35,000 1,803,550 0.43
International Consolidated Airlines Group, SA (CDI) 120,000 700,844 0.17
JPMorgan Chase & Co. 45,300 5,331,357 1.27
Keurig Dr Pepper Inc. 106,000 2,895,920 0.69
Keyence Corp. 2,900 1,794,312 0.43
Koninklijke DSM NV 12,000 1,443,966 0.34
Koninklijke Philips NV 23,500 1,088,588 0.26
LVMH Moët Hennessy-Louis Vuitton SE 5,765 2,291,301 0.55
Lockheed Martin Corp. 5,450 2,125,827 0.51
LyondellBasell Industries NV 12,000 1,073,640 0.26
MTU Aero Engines AG 9,800 2,604,152 0.62
Mastercard Inc., Class A 7,600 2,063,932 0.49
Merck & Co., Inc. 116,325 9,792,239 2.34
Mettler-Toledo International Inc. 3,500 2,465,400 0.59
Microsoft Corp. 30,120 4,187,584 1.00
Murata Manufacturing Co., Ltd. 23,200 1,112,527 0.27
NIBE Industrier AB, Class B 106,000 1,344,376 0.32
Nestlé SA 64,100 6,954,309 1.66
Nidec Corp. 10,900 1,463,750 0.35
Nintendo Co., Ltd. 7,500 2,775,954 0.66
Novartis AG 10,500 910,445 0.22
Ocado Group PLC 109,500 1,780,557 0.42
PagSeguro Digital Ltd., Class A 154,528 7,156,192 1.71
Pfizer Inc. 47,500 1,706,675 0.41
Philip Morris International Inc. 33,300 2,528,469 0.60
Procter & Gamble Co. 8,000 995,040 0.24
Rational AG 2,800 2,008,124 0.48
Rio Tinto PLC 18,000 931,532 0.22
Royal Dutch Shell PLC, Class B 40,000 1,178,401 0.28
SMC Corp. 5,000 2,131,792 0.51
Sberbank of Russia PJSC (ADR) 331,000 4,691,925 1.12
Spirax-Sarco Engineering PLC 17,700 1,707,310 0.41
TOTAL SA 30,400 1,586,645 0.38
Taiwan Semiconductor Manufacturing Co., Ltd. 804,000 7,041,113 1.68
Temenos AG 18,000 3,011,873 0.72
United Parcel Service, Inc., Class B 9,300 1,114,326 0.27
UnitedHealth Group Inc. 8,045 1,748,339 0.42
Vale SA, ordinary nominative 60,000 689,539 0.16
Visa Inc., Class A 14,600 2,511,346 0.60
Walgreens Boots Alliance, Inc. 25,000 1,382,750 0.33
Watsco, Inc. 9,680 1,637,662 0.39
Zurich Insurance Group AG 11,800 4,516,407 1.08
Ørsted AS 58,400 5,427,403 1.29

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.

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

*
Excludes certain securities in initial period of acquisition.