Portfolio Holdings - American Funds Insurance Series - High-Income Bond Fund | Capital Group

Portfolio Holdings

American Funds Insurance Series - High-Income Bond Fund

As of September 30, 2018 (updated quarterly, upon availability)

Equity Securities* Shares or Principal Amount Market Value Percent of Net Assets
Adelphia Recovery Trust, Series ACC-1 449,306 225 0.00
Adelphia Recovery Trust, Series Arahova 388,601 1,477 0.00
Ascent Resources - Utica, LLC, Class A 6,297,894 2,015,326 0.15
Associated Materials, LLC, 14.00% convertible preferred 2020 4,850 5,892,162 0.44
Associated Materials, LLC, warrants, expire 2023 68,899 0 0.00
CEVA Logistics AG 129,342 2,267,373 0.17
Concordia International Corp. 29,685 597,767 0.04
Concordia International Corp. 80,350 1,488,564 0.11
Corporate Risk Holdings Corp. 1,104 0 0.00
Corporate Risk Holdings I, Inc. 218,504 152,953 0.01
Cumulus Media Inc., Class A 3,531 60,309 0.00
Cumulus Media Inc., Class B 4,291 73,290 0.01
Frontier Communications Corp. 13,333 86,531 0.01
Liberman Broadcasting, Inc., warrants, expire 2022 1 0 0.00
Ply Gem Parent, LLC, Class B 167 21,004 0.00
Rotech Healthcare Inc. 201,793 403,586 0.03
T-Mobile US, Inc. 15,000 1,052,700 0.08
Teva Pharmaceutical Industries Ltd., 7.00% convertible preferred 2018 1,800 726,588 0.05
Tribune Resources, Inc. 1,006,339 3,169,968 0.24
Tribune Resources, Inc., Class A, warrants, expire 2023 336,564 150,410 0.01
Tribune Resources, Inc., Class B, warrants, expire 2023 261,772 91,961 0.01
Tribune Resources, Inc., Class C, warrants, expire 2023 247,225 70,682 0.01
Fixed-Income Securities* Shares or Principal Amount Market Value
ACCO Brands Corp. 5.25% 2024 1,190,000 1,188,417
ADT Corp. 3.50% 2022 2,050,000 1,947,500
AES Corp. 4.00% 2021 250,000 250,000
AES Corp. 4.875% 2023 600,000 608,250
AES Corp. 5.50% 2025 3,382,000 3,483,460
AES Corp. 6.00% 2026 2,165,000 2,292,194
AES Corp. 7.75% 2024 700,000 611,975
AK Steel Holding Corp. 7.00% 2027 450,000 434,250
AK Steel Holding Corp. 7.625% 2021 1,700,000 1,740,375
ALTICE FRANCE SA 8.125% 2027 1,925,000 1,982,750
ARAMARK Corp. 5.125% 2024 2,985,000 3,024,551
ARD Securities Finance S.a r.l. 8.75% 2023 948,945 953,690
AURIS LUXEMBOURG III SARL, Term Loan, (3-month USD-LIBOR + 3.75%) 6.085% 2025 860,000 871,825
AXA Equitable Holdings, Inc., convertible notes, 7.25% 2021 915,000 983,010
Acrisure LLC 7.00% 2025 1,195,000 1,116,943
Advanced Disposal Services, Inc. 5.625% 2024 550,000 557,420
Aker BP ASA 5.875% 2025 1,640,000 1,699,450
Alcatel-Lucent USA Inc. 6.45% 2029 1,800,000 1,818,000
Allison Transmission Holdings, Inc. 5.00% 2024 4,670,000 4,658,325
Ally Financial Inc. 8.00% 2020 1,540,000 1,639,330
Ally Financial Inc. 8.00% 2031 900,000 1,094,625
Almonde Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.636% 2025 7,150,000 7,087,438
Altice Finco SA 8.125% 2024 905,000 921,969
Altice France SA, Term Loan B-13, (3-month USD-LIBOR + 4.00%) 6.158% 2026 1,450,000 1,440,394
Altice NV 5.50% 2026 1,300,000 1,299,350
Altice NV 6.625% 2023 835,000 843,350
Altice NV 7.50% 2026 1,250,000 1,221,875
Altice SA 7.625% 2025 725,000 659,750
AmeriGas Partners, LP 5.50% 2025 1,950,000 1,925,625
AmeriGas Partners, LP 5.75% 2027 975,000 960,375
American Axle & Manufacturing Holdings, Inc. 6.50% 2027 2,300,000 2,285,579
American Energy (Permian Basin), 7.125% 2020 7,445,000 4,988,150
American Energy (Permian Basin), 7.375% 2021 6,770,000 4,434,350
Antero Resources Corp. 5.375% 2024 1,695,000 1,714,069
Applied Systems, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 9.386% 2025 1,825,000 1,869,973
Aqueduct and Sewer Auth., Rev. Bonds, Series 2012-B, 4.90% 2020 95,000 87,638
Ardagh Group SA 7.125% 2023 450,000 456,750
Ardagh Packaging Finance 6.00% 2025 2,630,000 2,589,235
Ascent Resources Marcellus Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 6.50%) 8.62% 2023 1,329,167 1,338,581
Ascent Resources-Utica LLC 7.0% 2026 3,050,000 3,037,038
Ashtead Group PLC 5.25% 2026 265,000 268,379
Associated Materials, LLC 9.00% 2024 4,325,000 4,519,625
Avis Budget Group, Inc. 5.50% 2023 2,330,000 2,326,365
Avon Products, Inc. 7.875% 2022 2,325,000 2,409,281
Axalta Coating Systems LLC 4.875% 2024 1,450,000 1,424,625
B&G Foods, Inc. 4.625% 2021 365,000 365,913
B&G Foods, Inc. 5.25% 2025 5,758,000 5,533,783
BWAY Parent Co. Inc., 5.50% 2024 1,975,000 1,946,540
BWAY Parent Co. Inc., 7.25% 2025 3,475,000 3,396,465
BWAY Parent Co. Inc., Term Loan, (3-month USD-LIBOR + 3.25%) 5.581% 2024 336,591 336,802
Ball Corp. 4.375% 2020 1,775,000 1,803,844
Ball Corp. 5.00% 2022 825,000 852,431
Banff Merger Sub Inc. 9.75% 2026 2,725,000 2,771,325
Beacon Roofing Supply, Inc. 4.875% 2025 2,050,000 1,896,250
Berry Petroleum Corporation 7.00% 2026 1,050,000 1,092,000
Berry Plastics Corp. 5.50% 2022 820,000 834,432
Blackboard Inc., Term Loan B4, (3-month USD-LIBOR + 5.00%) 7.333% 2021 700,000 677,000
Blackstone CQP Holdco LP, 6.00% 2021 1,600,000 1,607,818
Blackstone CQP Holdco LP, 6.50% 2021 21,230,000 21,398,418
Blue Cube Spinco Inc. (Olin Corp.) 10.00% 2025 500,000 577,500
Blue Racer Midstream LLC / Blue Racer Finance Corp. 6.125% 2022 2,500,000 2,578,125
Bohai Financial Investment Holding Co., Ltd. 4.50% 2023 2,000,000 1,957,500
Bohai Financial Investment Holding Co., Ltd. 5.125% 2023 1,000,000 1,011,250
Bohai Financial Investment Holding Co., Ltd. 5.25% 2022 675,000 684,281
Bohai Financial Investment Holding Co., Ltd. 5.50% 2024 1,625,000 1,667,656
Brand Energy 8.5% 2025 4,805,000 4,956,982
Brookfield WEC Holdings Inc., Term Loan, (3-month USD-LIBOR + 3.75%) 5.826% 2025 3,125,000 3,166,341
Brookfield WEC Holdings Inc., Term Loan, (3-month USD-LIBOR + 6.75%) 8.826% 2026 1,580,000 1,612,259
Bruin E&P Partners, LLC 8.875% 2023 900,000 928,125
Builders FirstSource, Inc. 5.625% 2024 5,560,000 5,365,400
CBS Outdoor Americas Inc. 5.25% 2022 400,000 406,500
CCO Holdings LLC and CCO Holdings Capital Corp. 4.00% 2023 2,225,000 2,135,555
CCO Holdings LLC and CCO Holdings Capital Corp. 5.00% 2028 3,150,000 2,968,560
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2023 2,225,000 2,239,574
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2027 300,000 285,183
CCO Holdings LLC and CCO Holdings Capital Corp. 5.375% 2025 225,000 223,875
CCO Holdings LLC and CCO Holdings Capital Corp. 5.50% 2026 825,000 817,781
CCO Holdings LLC and CCO Holdings Capital Corp. 5.75% 2026 6,850,000 6,892,813
CCO Holdings LLC and CCO Holdings Capital Corp. 5.875% 2024 350,000 358,313
CD&R Waterworks Merger Sub, LLC 6.125% 2025 685,000 661,874
CDW Corp. 5.00% 2025 500,000 500,000
CF Industries, Inc. 4.95% 2043 2,565,000 2,279,644
CHEVRON CORP 4(2) CP 10/18/2018 9,900,000 9,888,269
CIT Group Inc. 4.125% 2021 1,945,000 1,956,184
CONSOL Energy Inc. 5.875% 2022 9,804,000 9,841,255
CRC Escrow Issuer LLC 5.25% 2025 3,250,000 3,103,750
CVR Partners, LP 9.25% 2023 1,300,000 1,388,166
Cablevision Systems Corp. 6.75% 2021 4,625,000 4,885,156
Caesars Resort Collection LLC, Term Loan, (3-month USD-LIBOR + 2.75%) 4.826% 2024 992,500 998,969
California Resources Corp., Term Loan B, (3-month USD-LIBOR + 4.75%) 6.962% 2022 1,700,000 1,736,125
Calpine Corp. 5.25% 2026 3,495,000 3,250,350
Calpine Corp. 5.375% 2023 1,450,000 1,368,438
Calpine Corp. 5.75% 2025 300,000 266,625
Calpine Corp. 5.875% 2024 1,120,000 1,131,200
Calpine Corp. 6.00% 2022 425,000 431,163
Camelot Finance SA 7.875% 2024 8,205,000 8,199,092
Carlyle Group LP 8.75% 2023 1,730,000 1,762,438
Carrizo Oil & Gas Inc. 6.25% 2023 1,300,000 1,334,125
Centene Corp. 4.75% 2022 5,205,000 5,280,473
Centene Corp. 4.75% 2025 2,550,000 2,550,000
Centene Corp. 5.375% 2026 3,190,000 3,277,725
Centene Corp. 6.125% 2024 1,900,000 2,004,500
CenturyLink, Inc. 6.75% 2023 5,350,000 5,570,688
CenturyLink, Inc., Series T, 5.80% 2022 800,000 818,000
Cequel Communications Holdings I, LLC and Cequel Capital Corp. 5.125% 2021 500,000 503,860
Charles River Laboratories International, Inc. 5.50% 2026 885,000 900,488
Chemours Co. 6.625% 2023 2,410,000 2,523,487
Cheniere Energy Partners, LP 5.25% 2025 950,000 952,375
Cheniere Energy, Inc. 5.875% 2025 750,000 789,375
Chesapeake Energy Corp. 4.875% 2022 4,500,000 4,393,125
Chesapeake Energy Corp. 8.00% 2022 1,294,000 1,358,700
Chesapeake Energy Corp. 8.00% 2025 3,725,000 3,853,513
Chesapeake Energy Corp. 8.00% 2027 1,495,000 1,527,890
Chesapeake Energy Corp., convertible notes, 5.50% 2026 1,090,000 1,079,369
Chobani LLC 7.50% 2025 1,405,000 1,282,063
Cirsa Gaming Corporation SA 7.875% 2023 4,185,000 4,272,676
Clear Channel Worldwide Holdings, Inc. 7.625% 2020 15,000,000 15,093,750
Cleveland-Cliffs Inc. 4.875% 2024 3,125,000 3,085,938
Cleveland-Cliffs Inc. 5.75% 2025 12,575,000 12,276,344
ClubCorp Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 2.75%) 5.136% 2024 1,421,670 1,415,450
Colorado Buyer Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.36% 2025 637,500 635,906
CommScope Holding Co., Inc. 5.00% 2027 950,000 916,750
Communications Sales & Leasing, Inc. 6.00% 2023 200,000 194,500
Communications Sales & Leasing, Inc. 7.125% 2024 150,000 138,000
Community Health Systems Inc. 6.25% 2023 1,225,000 1,168,344
Compass Diversified Holdings 8.00% 2026 5,210,000 5,392,350
Comstock Resources, Inc. 9.75% 2026 5,125,000 5,126,538
Concordia International Corp. (3-month USD-LIBOR + 5.50%) 7.814% 2024 711,000 700,335
Concordia International Corp. 8.00% 2024 257,000 252,503
Consolidated Energy Finance SA 6.50% 2026 1,645,000 1,671,731
Constellium NV 5.875% 2026 1,450,000 1,422,813
Continental Airlines, Inc., Series 1999-1, Class A, 6.545% 2020 97,665 98,406
Continental Airlines, Inc., Series 2000-1, Class B, 8.388% 2022 38 41
Convey Park Energy LLC 7.50% 2025 1,400,000 1,426,250
Cott Beverages Inc. 5.50% 2025 1,970,000 1,928,138
Covanta Holding Corp. 5.875% 2025 1,300,000 1,316,250
Cumulus Media New Holdings Inc., Term Loan, (3-month USD-LIBOR + 4.50%) 6.75% 2022 648,375 641,381
DAE Aviation Holdings, Inc. 10.00% 2023 9,465,000 10,234,031
DCP Midstream LP 7.375% 2022 (3-month USD-LIBOR + 5.148% on 12/15/2022) 778,000 775,569
DCP Midstream Operating LP 4.95% 2022 3,030,000 3,083,025
DISH DBS Corp. 5.875% 2022 1,025,000 1,003,859
DISH DBS Corp. 6.75% 2021 600,000 614,250
DISH DBS Corp., convertible notes, 3.375% 2026 1,010,000 965,829
DaVita HealthCare Partners Inc. 5.00% 2025 1,865,000 1,799,147
DaVita HealthCare Partners Inc. 5.125% 2024 2,840,000 2,754,800
Darling Ingredients Inc. 5.375% 2022 400,000 404,500
Deck Chassis Acquisition Inc. 10.00% 2023 4,440,000 4,728,600
Dell Inc. 7.125% 2024 1,100,000 1,181,712
Denbury Resources Inc. 7.50% 2024 1,040,000 1,072,500
Denbury Resources Inc. 9.00% 2021 1,151,000 1,250,274
Diamond Offshore Drilling, Inc. 4.875% 2043 3,260,000 2,404,250
Diamond Offshore Drilling, Inc. 7.875% 2025 1,850,000 1,926,313
Diebold Nixdorf AG Term Loan B (3-month USD-LIBOR + 2.75%) 0% 2023 1,021,961 886,551
Diebold Nixdorf AG, Term Loan A1 (3-month USD-LIBOR + 9.25%) 11.375% 2022 1,150,000 1,201,750
Diebold, Inc. 8.50% 2024 1,350,000 972,000
Dynegy Finance Inc. 7.375% 2022 1,985,000 2,067,239
Dynegy Finance Inc. 7.625% 2024 254,000 274,638
EP Energy Corp. 8.00% 2024 475,000 480,938
EXXON MOBIL CORPORATION CP 10/10/2018 25,000,000 24,982,375
Eagle Holding Co II LLC 7.625% 2022 950,000 964,250
Ellucian, Inc. 9.00% 2023 200,000 209,500
Emera Inc. 6.75% 2076 (3-month USD-LIBOR + 5.44% on 6/15/2026) 4,200,000 4,494,000
Endo International PLC 5.375% 2023 600,000 531,000
Endo International PLC 5.75% 2022 4,275,000 4,013,156
Endo International PLC 5.875% 2024 2,050,000 2,075,625
Endo International PLC 6.00% 2023 4,060,000 3,623,550
Endo International PLC 6.00% 2025 3,005,000 2,605,335
Enel Società per Azioni 8.75% 2073 2,000,000 2,220,000
Energizer Gamma Acquisition Inc. 6.375% 2026 1,530,000 1,585,463
Energy Transfer Partners, LP 4.25% 2023 250,000 249,063
Energy Transfer Partners, LP 5.50% 2027 250,000 260,075
Energy Transfer Partners, LP 5.875% 2024 2,200,000 2,321,000
Energy Transfer Partners, LP 6.25% (undated) (3-month USD-LIBOR + 4.028% on 2/15/2023) 1,000,000 964,375
Ensco PLC 7.75% 2026 3,475,000 3,461,969
Ensco PLC, 5.75% 2044 3,170,000 2,381,463
Envision Healthcare Corp 8.75% 2026 1,005,000 989,925
Envision Healthcare Corp. 5.125% 2022 880,000 905,960
Envision Healthcare Corp. Term Loan (3-month USD-LIBOR + 4.00%) 6.366% 2025 1,150,000 1,147,125
Equinix, Inc. 5.375% 2027 1,500,000 1,506,240
Equinix, Inc. 5.75% 2025 475,000 489,844
Equinix, Inc. 5.875% 2026 575,000 592,969
Euramax International, Inc. 12.00% 2020 2,850,000 2,981,813
Extraction Oil & Gas, Inc. 5.625% 2026 2,590,000 2,305,100
Extraction Oil & Gas, Inc. 7.375% 2024 100,000 99,250
FED HM LN BK BD 10/1/2018 38,600,000 38,593,291
FED HM LN BK BD 10/26/2018 15,000,000 14,978,027
FS Energy and Power Fund 7.50% 2023 5,965,000 6,099,213
FXI Holdings, Inc. 7.875% 2024 1,595,000 1,525,219
Fertitta Entertainment, Inc. 6.75% 2024 1,900,000 1,932,072
Fertitta Entertainment, Inc. 8.75% 2025 1,325,000 1,392,284
Financial & Risk US Holdings, Inc. 6.25% 2026 1,000,000 1,000,625
Financial & Risk US Holdings, Inc. 8.25% 2026 5,300,000 5,281,132
Financial & Risk US Holdings, Inc. Term Loan B, (3-month USD-LIBOR + 3.75%) 6.088% 2025 950,000 949,067
First Data Corp. 5.00% 2024 1,100,000 1,110,450
First Data Corp. 5.375% 2023 1,100,000 1,119,525
First Data Corp. 5.75% 2024 2,525,000 2,566,663
First Data Corp. 7.00% 2023 1,500,000 1,565,625
First Quality Enterprises, Inc. 5.00% 2025 1,995,000 1,870,313
First Quantum Minerals Ltd. 6.50% 2024 2,025,000 1,860,469
First Quantum Minerals Ltd. 6.875% 2026 4,900,000 4,465,125
First Quantum Minerals Ltd. 7.00% 2021 3,495,000 3,462,234
First Quantum Minerals Ltd. 7.25% 2022 3,025,000 2,972,063
First Quantum Minerals Ltd. 7.25% 2023 1,225,000 1,169,875
First Quantum Minerals Ltd. 7.50% 2025 11,625,000 11,072,813
Firstplus Financial Group, Inc. 8.25% 2025 550,000 536,250
Five Point Holdings LLC 7.875% 2025 1,950,000 1,973,888
Freeport-McMoRan Inc. 3.55% 2022 7,415,000 7,229,625
Freeport-McMoRan Inc. 6.875% 2023 1,000,000 1,070,000
Frontier Communications Corp. 10.50% 2022 7,640,000 6,813,887
Frontier Communications Corp. 11.00% 2025 15,425,000 12,104,152
Frontier Communications Corp. 8.50% 2026 4,000,000 3,795,000
Frontier Communications Corp. 9.25% 2021 1,500,000 1,439,250
Garda World Security Corp. 8.75% 2025 1,885,000 1,852,013
General Motors Acceptance Corp. 7.50% 2020 1,470,000 1,575,840
Genesis Energy, LP 6.50% 2025 1,890,000 1,854,563
Genesis Energy, LP 6.75% 2022 2,375,000 2,434,375
Genesys Telecommunications Laboratories, Inc. 10.00% 2024 5,295,000 5,877,450
Genesys Telecommunications Laboratories, Inc., Term Loan B3, (3-month USD-LIBOR + 3.50%) 5.834% 2023 572,225 576,070
Gogo Inc. 12.50% 2022 14,175,000 15,571,096
Goodyear Tire & Rubber Co. 4.875% 2027 750,000 690,938
H.I.G. Capital, LLC 6.75% 2024 4,724,000 4,736,849
HCA Inc 5.375% 2026 2,400,000 2,434,800
HCA Inc. 4.50% 2027 2,025,000 1,994,625
HCA Inc. 5.375% 2025 650,000 664,625
HCA Inc. 5.50% 2047 1,350,000 1,371,938
HCA Inc. 5.625% 2028 3,225,000 3,249,188
HCA Inc. 5.875% 2023 1,925,000 2,033,281
HCA Inc. 5.875% 2026 2,055,000 2,144,906
HCA Inc. 7.50% 2022 360,000 395,100
HUB International Ltd., 7.00% 2026 6,160,000 6,183,470
Hanesbrands Inc. 4.625% 2024 2,280,000 2,227,275
Hanesbrands Inc. 4.875% 2026 770,000 740,163
Hardwoods Acquisition Inc 7.50% 2021 1,810,000 1,665,200
Healthsouth Corp. 5.75% 2024 1,275,000 1,297,198
Healthsouth Corp. 5.75% 2025 2,480,000 2,511,000
Hertz Global Holdings Inc. 7.625% 2022 5,944,000 5,884,560
Hexion Inc. 10.375% 2022 1,850,000 1,808,375
Hexion Inc. 6.625% 2020 1,925,000 1,814,313
Hologic, Inc. 4.375% 2025 550,000 526,625
Howard Hughes Corp. 5.375% 2025 6,520,000 6,471,361
Hub International Ltd., Term Loan B, (3-month USD-LIBOR + 3.00%) 5.335% 2025 583,538 585,263
Huntsman International LLC 4.875% 2020 715,000 730,194
IMS Health Holdings, Inc. 5.00% 2026 2,350,000 2,310,638
INEOS Group Holdings SA 5.625% 2024 2,375,000 2,344,600
IRB Holding Corp. 6.75% 2026 2,860,000 2,809,950
Icahn Enterprises Finance Corp. 6.25% 2022 3,050,000 3,133,875
Indigo Natural Resources LLC 6.875% 2026 885,000 860,663
Infor (US), Inc. 6.50% 2022 3,175,000 3,233,896
Infor Software 7.125% 2021 6,660,000 6,764,895
Informatica Corp. 7.125% 2023 1,850,000 1,902,873
Inmarsat PLC 4.875% 2022 3,815,000 3,815,000
Inmarsat PLC 6.50% 2024 500,000 508,750
Intelsat Jackson Holding Co. 5.50% 2023 5,325,000 4,922,963
Intelsat Jackson Holding Co. 6.625% 2024 2,200,000 2,297,167
Intelsat Jackson Holding Co. 7.50% 2021 13,760,000 14,000,800
Intelsat Jackson Holding Co. 8.00% 2024 250,000 263,678
Intelsat Jackson Holding Co. 8.5% 2024 1,250,000 1,262,500
Intelsat Jackson Holding Co. 9.75% 2025 1,100,000 1,167,375
Intelsat SA, convertible notes, 4.50% 2025 275,000 510,263
International Game Technology 6.50% 2025 1,600,000 1,668,000
Internet Brands, Inc., Term Loan, (3-month USD-LIBOR + 3.75%) 5.915% 2024 620,301 625,507
Internet Brands, Inc., Term Loan, (3-month USD-LIBOR + 7.50%) 9.662% 2025 2,575,000 2,608,797
Iron Mountain Inc. 4.875% 2027 505,000 465,231
Iron Mountain Inc. 5.25% 2028 3,175,000 2,960,688
Iron Mountain Inc. 5.75% 2024 5,525,000 5,480,800
JELD-WEN Holding, Inc. 4.875% 2027 1,700,000 1,553,375
Jaguar Holding Co. 6.375% 2023 2,625,000 2,651,250
Jonah Energy LLC 7.25% 2025 4,400,000 3,388,000
KAR Auction Services, Inc. 5.125% 2025 2,035,000 1,979,038
Kcad Holdings I Ltd. 7.25% 2021 1,220,000 1,155,950
Kcad Holdings I Ltd. 9.625% 2023 320,000 315,200
Kinetic Concepts, Inc. 12.50% 2021 6,763,000 7,475,144
Kinetic Concepts, Inc. 7.875% 2021 1,900,000 1,964,695
Kratos Defense & Security Solutions, Inc. 6.50% 2025 705,000 727,243
Kronos Inc., Term Loan B, (3-month USD-LIBOR + 8.25%) 10.593% 2024 7,645,000 7,844,489
LSB Industries, Inc. 9.625% 2023 3,540,000 3,721,425
LSC Communications, Inc. 8.75% 2023 2,725,000 2,763,641
Lamb Weston Holdings, Inc. 4.625% 2024 400,000 393,000
Laredo Petroleum, Inc. 5.625% 2022 1,061,000 1,058,348
Laureate Education, Inc. 8.25% 2025 1,060,000 1,137,730
Levi Strauss & Co. 5.00% 2025 1,280,000 1,282,816
Liberty Global PLC 5.50% 2028 2,175,000 2,069,186
Liberty Global PLC 6.125% 2025 900,000 949,500
Ligado Networks, Term Loan, (3-month USD-LIBOR + 8.75%) 11.067% 2020 8,456,858 6,557,592
Limited Brands, Inc. 5.25% 2028 1,095,000 943,397
Limited Brands, Inc. 6.875% 2035 525,000 446,250
Live Nation Entertainment, Inc. 5.625% 2026 425,000 430,313
MDC Partners Inc. 6.50% 2024 3,305,000 2,957,975
MGM Growth Properties LLC 5.625% 2024 200,000 205,750
MGM Resorts International 6.00% 2023 1,450,000 1,504,375
MGM Resorts International 7.75% 2022 1,800,000 1,977,804
Mallinckrodt PLC 4.875% 2020 5,365,000 5,338,175
Matador Resources Co. 5.875% 2026 1,550,000 1,573,250
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 4.50%) 6.742% 2024 1,897,128 1,915,308
McAfee, LLC, Term Loan, (3-month USD-LIBOR + 8.50%) 10.742% 2025 875,000 888,125
McDermott International, Inc. 10.625% 2024 1,450,000 1,555,125
McGraw-Hill Global Education Holdings, LLC, Term Loan B, (3-month USD-LIBOR + 4.00%) 0% 2022 498,724 485,529
Medical Properties Trust, Inc. 5.00% 2027 2,020,000 1,958,329
Meredith Corp. 6.875% 2026 8,440,000 8,672,100
Meredith Corp., Term Loan B, (3-month USD-LIBOR + 3.00%) 5.076% 2025 1,506,861 1,518,059
Meritage Homes Corp. 5.125% 2027 1,875,000 1,734,375
Merlin Entertainment 5.75% 2026 800,000 810,000
Mitchell International, Inc., Term Loan B, (3-month USD-LIBOR + 7.25%) 9.492% 2025 2,425,000 2,419,694
Molina Healthcare, Inc. 4.875% 2025 2,694,000 2,660,325
Molina Healthcare, Inc. 5.375% 2022 10,310,000 10,529,088
Multi-Color Corp. 4.875% 2025 2,885,000 2,704,688
Multiplan, Inc. 7.125% 2024 1,580,000 1,646,360
Multiplan, Inc. 8.50% 2022 500,000 518,495
Murphy Oil Corp. 5.75% 2025 1,690,000 1,721,101
Murphy Oil Corp. 6.875% 2024 650,000 689,631
NGL Energy Partners LP 6.125% 2025 2,865,000 2,700,263
NGL Energy Partners LP 6.875% 2021 7,010,000 7,149,113
NMG Finco PLC 5.75% 2022 3,850,000 3,790,652
NRG Energy, Inc. 6.25% 2022 1,948,000 2,014,622
NRG Energy, Inc. 6.625% 2027 300,000 316,350
NRG Energy, Inc. 7.25% 2026 500,000 546,585
NVA Holdings Inc 6.875% 2026 2,175,000 2,180,438
Nabors Industries Inc. 5.75% 2025 1,300,000 1,249,143
Navient Corp. 5.5% 2023 4,060,000 4,065,075
Navient Corp. 6.125% 2024 500,000 501,250
Navient Corp. 6.50% 2022 4,440,000 4,617,600
Navistar International Corp. 6.625% 2025 970,000 1,013,650
Navistar International Corp., Term Loan, (3-month USD-LIBOR + 4.75%) 5.64% 2024 1,099,475 1,105,646
Neiman Marcus Group LTD Inc. 8.00% 2021 1,550,000 1,025,906
Neiman Marcus Group LTD Inc. 8.75% 2021 2,925,000 1,943,297
Neiman Marcus Group LTD Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 5.573% 2020 1,847,868 1,719,288
Neptune Finco Corp. (Altice NV) 6.625% 2025 1,250,000 1,320,313
Noble Corp. PLC 7.95% 2025 2,225,000 2,180,500
Noble Corp. PLC 8.95% 2045 2,250,000 2,190,938
Nova Chemicals Corp. 4.875% 2024 1,785,000 1,725,203
Nova Chemicals Corp. 5.25% 2027 3,050,000 2,847,938
Novelis Corp. 5.875% 2026 2,195,000 2,148,356
Novelis Corp. 6.25% 2024 860,000 879,350
Numericable Group SA 7.375% 2026 3,325,000 3,340,960
OCI NV 6.625% 2023 1,160,000 1,204,950
ONEOK, Inc. 7.50% 2023 1,250,000 1,426,546
Oasis Petroleum Inc. 6.25% 2026 1,110,000 1,134,420
Olin Corp. 5.125% 2027 300,000 290,250
Olympus Merger Sub, Inc. 8.50% 2025 1,375,000 1,268,438
OneMain Holdings, Inc. 7.125% 2026 1,455,000 1,455,000
Owens & Minor, Inc. 3.875% 2021 2,450,000 2,310,656
Owens & Minor, Inc., Term Loan B, (3-month USD-LIBOR + 4.50%) 0% 2025 1,750,000 1,665,417
Owens-Illinois, Inc. 5.00% 2022 560,000 567,000
Owens-Illinois, Inc. 5.875% 2023 2,030,000 2,095,975
Owens-Illinois, Inc. 6.375% 2025 405,000 418,163
PAREXEL International Corp. 6.375% 2025 2,545,000 2,424,113
PDC Energy Inc. 5.75% 2026 500,000 476,875
PE Cortes NP Holdings LLC 12.00% 2022 450,000 461,813
PE Cortes NP Holdings LLC 9.25% 2024 875,000 914,375
Pacific Drilling SA 8.375% 2023 1,595,000 1,650,825
Parsley Energy, Inc. 5.25% 2025 500,000 500,000
Parsley Energy, Inc. 5.375% 2025 650,000 654,875
Parsley Energy, Inc. 6.25% 2024 500,000 522,500
Peabody Energy Corp. 6.00% 2022 1,050,000 1,071,000
Peabody Energy Corp. 6.375% 2025 425,000 433,500
Petsmart Inc., Term Loan B-2, (3-month USD-LIBOR + 3.00%) 5.334% 2022 6,285,631 5,533,977
Petsmart, Inc. 5.875% 2025 14,065,000 11,599,265
Petsmart, Inc. 7.125% 2023 3,770,000 2,728,538
Petsmart, Inc. 8.875% 2025 4,655,000 3,373,944
Pilgrim's Pride Corp. 5.75% 2025 795,000 769,163
Pinnacle Foods Inc. 5.875% 2024 800,000 844,000
Pisces Parent LLC, Term Loan B, (3-month USD-LIBOR + 3.75%) 6.087% 2025 2,398,988 2,417,479
Pisces Parent, LLC 8.00% 2026 4,730,000 4,777,300
Plastipak Holdings, Inc. 6.25% 2025 1,995,000 1,830,413
Platform Specialty Products Corp. 5.875% 2025 5,910,000 5,861,361
Platform Specialty Products Corp. 6.50% 2022 2,100,000 2,155,125
Post Holdings, Inc. 5.00% 2026 2,315,000 2,197,630
Post Holdings, Inc. 5.625% 2028 2,830,000 2,730,950
Post Holdings, Inc. 8.00% 2025 1,550,000 1,710,813
Prestige Brands International Inc. 6.375% 2024 1,565,000 1,590,431
PrimeSource Building Products Inc 9.00% 2023 400,000 415,000
QEP Resources, Inc. 5.625% 2026 1,155,000 1,108,800
QGOG Constellation SA 9.50% 2024 6,128,932 2,987,854
Quintiles Transnational Corp. 4.875% 2023 1,350,000 1,363,500
R.R. Donnelley & Sons Co. 6.50% 2023 2,400,000 2,412,000
R.R. Donnelley & Sons Co. 7.625% 2020 600,000 639,000
R.R. Donnelley & Sons Co. 7.875% 2021 1,700,000 1,812,625
Range Resources Corp. 4.875% 2025 2,100,000 1,997,625
Range Resources Corp. 5.00% 2023 425,000 419,688
Rayonier Advanced Materials Inc. 5.50% 2024 1,710,000 1,654,989
Realogy Corp. 4.50% 2019 565,000 567,825
Realogy Corp. 4.875% 2023 2,275,000 2,141,344
Rexnord Corp. 4.875% 2025 2,610,000 2,499,075
Reynolds Group Inc. 5.75% 2020 314,960 316,141
Reynolds Group Inc. 7.00% 2024 3,650,000 3,720,719
Rockpoint Gas Storage Canada Ltd 7.00% 2023 2,050,000 2,091,000
Rotech Healthcare Inc., Term Loan B, (3-month USD-LIBOR + 3.75%) 6.087% 2023 2,310,469 2,310,469
Rotech Healthcare Inc., Term Loan, (3-month USD-LIBOR + 11.00%) 13.337% 2020 7,146,433 6,531,154
Ruyi US Finance LLC 7.50% 2025 1,205,000 1,183,913
Ryerson Inc. 11.00% 2022 6,336,000 6,930,887
SBA Communications Corp. 4.00% 2022 1,010,000 996,113
SBA Communications Corp. 4.875% 2022 700,000 708,470
SM Energy Co. 5.625% 2025 1,205,000 1,206,506
SM Energy Co. 6.125% 2022 661,000 684,135
SM Energy Co. 6.625% 2027 850,000 879,750
SPCM SA 4.875% 2025 1,675,000 1,601,283
SUPERVALU Inc. 7.75% 2022 300,000 313,125
Sally Holdings LLC and Sally Capital Inc. 5.50% 2023 1,270,000 1,243,013
Sally Holdings LLC and Sally Capital Inc. 5.625% 2025 7,130,000 6,826,975
Sanchez Energy Corp. 7.25% 2023 825,000 815,719
Scientific Games Corp. 10.00% 2022 262,000 278,590
Scientific Games Corp. 5.00% 2025 3,090,000 2,943,225
Scientific Games Corp. 6.25% 2020 1,240,000 1,240,000
Scotts Miracle-Gro Co. 5.25% 2026 750,000 721,875
Sealed Air Corp. 4.875% 2022 350,000 354,813
Sealed Air Corp. 5.25% 2023 205,000 209,613
Sensata Technologies Holding NV 6.25% 2026 1,000,000 1,057,500
ServiceMaster Global Holdings, Inc. 5.125% 2024 600,000 593,916
Seven Generations Energy Ltd. 5.375% 2025 675,000 658,969
Sirius XM Radio Inc 4.625% 2023 900,000 893,340
Sirius XM Radio Inc. 3.875% 2022 3,175,000 3,141,059
Six Flags Entertainment Corp. 4.875% 2024 6,475,000 6,358,450
Solenis International, L.P., Term Loan, (3-month USD-LIBOR + 4.00%) 6.311% 2023 1,197,000 1,208,222
Solenis International, L.P., Term Loan, (3-month USD-LIBOR + 8.50%) 10.811% 2024 1,340,000 1,324,088
Solera Holdings, Inc. 10.50% 2024 1,100,000 1,210,880
Sotheby's 4.875% 2025 5,695,000 5,460,081
Southwestern Energy Co. 7.50% 2026 3,245,000 3,415,363
Southwestern Energy Co. 7.75% 2027 475,000 503,500
Spectrum Brands Inc. 5.75% 2025 300,000 304,500
Springleaf Finance Corp. 6.875% 2025 2,075,000 2,079,150
Springleaf Finance Corp. 8.25% 2020 200,000 218,250
Sprint Corp. 11.50% 2021 6,530,000 7,689,075
Sprint Corp. 6.875% 2028 3,575,000 3,600,704
Sprint Corp. 7.25% 2021 2,240,000 2,371,600
Sprint Corp. 7.875% 2023 1,405,000 1,517,203
Sprint Corp. 8.75% 2032 1,025,000 1,155,370
Standard Aero Holdings, Inc., Term Loan B, 5.99% 2022 748,072 753,415
Standard Industries Inc. 6.00% 2025 1,750,000 1,795,938
Staples Inc. 8.50% 2025 1,190,000 1,123,063
Starfruit US Holdco LLC 8.00% 2026 2,955,000 2,999,325
Starfruit US Holdco LLC. Term Loan B, (3-month USD-LIBOR + 3.25%) 5.616% 2025 1,510,000 1,518,223
Stars Group Holdings BV, 7.00% 2026 3,885,000 4,017,828
Stars Group Holdings BV, Term Loan, (3-month USD-LIBOR + 3.50%) 5.886% 2025 723,188 730,283
Starwood Property Trust, Inc. 5.00% 2021 1,710,000 1,727,100
Summit Materials, Inc. 5.125% 2025 2,350,000 2,209,000
Summit Materials, Inc. 6.125% 2023 620,000 631,892
Sunoco LP 4.875% 2023 3,850,000 3,821,125
Sunoco LP 5.50% 2026 825,000 799,013
T-Mobile US, Inc. 6.375% 2025 2,150,000 2,245,245
T-Mobile US, Inc. 6.50% 2026 750,000 787,650
Talen Energy Corp. 10.50% 2026 1,770,000 1,608,488
Talen Energy Corp. 4.60% 2021 1,670,000 1,436,200
Talen Energy Corp. 9.50% 2022 2,620,000 2,620,000
Tallgrass Energy Partners, LP 5.50% 2024 250,000 255,938
Tapstone Energy Inc. 9.75% 2022 2,075,000 1,945,313
Targa Resources Corp. 5.875% 2026 125,000 129,531
Targa Resources Partners LP 6.75% 2024 1,035,000 1,094,513
Team Health Holdings, Inc. 6.375% 2025 2,905,000 2,527,350
Teekay Corp. 8.50% 2020 12,718,000 13,006,317
Teekay Corp., convertible notes, 5.00% 2023 750,000 684,780
Teekay Offshore Partners L.P. 8.50% 2023 3,550,000 3,656,500
Tempo Acquisition LLC 6.75% 2025 1,650,000 1,608,750
Tenet Healthcare Corp. 4.375% 2021 4,255,000 4,257,851
Tenet Healthcare Corp. 4.50% 2021 905,000 905,000
Tenet Healthcare Corp. 4.625% 2024 5,692,000 5,546,854
Tenet Healthcare Corp. 4.75% 2020 4,050,000 4,115,813
Tenet Healthcare Corp. 5.125% 2025 450,000 444,375
Tenet Healthcare Corp. 6.75% 2023 1,650,000 1,650,000
Tenet Healthcare Corp. 8.125% 2022 3,850,000 4,071,568
Tenet Healthcare Corp., 6.00% 2020 4,315,000 4,460,631
Teva Pharmaceutical Finance Company BV 2.20% 2021 1,550,000 1,457,400
Teva Pharmaceutical Finance Company BV 2.80% 2023 2,138,000 1,905,493
Teva Pharmaceutical Finance Company BV 3.15% 2026 985,000 821,074
Teva Pharmaceutical Finance Company BV 6.00% 2024 3,627,000 3,686,436
Teva Pharmaceutical Finance Company BV 6.75% 2028 2,100,000 2,217,741
Teva Pharmaceutical Industries Ltd. 4.50% 2025 800,000 995,970
TransDigm Inc. 5.50% 2020 200,000 200,500
Transocean Guardian LTD, 5.875% 2024 2,215,000 2,242,688
Transocean Inc. 6.125% 2025 2,490,000 2,536,663
Transocean Inc. 7.50% 2026 350,000 362,250
Transocean Inc. 7.75% 2024 1,211,250 1,285,439
Transocean Inc. 8.375% 2021 2,805,000 3,024,141
Transocean Inc. 9.00% 2023 3,141,000 3,423,690
TreeHouse Foods, Inc. 6.00% 2024 550,000 569,938
Trilogy International Partners, LLC 8.875% 2022 4,700,000 4,770,500
Tronox Ltd. 5.75% 2025 700,000 651,000
Tronox Ltd. 6.50% 2026 650,000 628,063
U.S. Treasury 1.125% 2019 5,000,000 4,975,200
USA Compression Partners, LP 6.875% 2026 1,340,000 1,388,575
Ultra Petroleum Corp. 6.875% 2022 4,090,000 1,963,200
Ultra Petroleum Corp. 7.125% 2025 1,675,000 686,750
Unisys Corp. 10.75% 2022 6,550,000 7,393,313
United Continental Holdings, Inc. 6.00% 2020 400,000 419,000
United Rentals, Inc. 4.625% 2025 1,630,000 1,585,175
United States Steel Corp. 6.875% 2025 300,000 307,875
Univision Communications Inc. 5.125% 2023 25,000 24,000
Univision Communications Inc. 5.125% 2025 1,050,000 984,375
Vale SA 6.25% 2026 207,000 227,369
Valeant Pharmaceuticals International, Inc. 5.625% 2021 1,610,000 1,610,000
Valeant Pharmaceuticals International, Inc. 5.875% 2023 7,485,000 7,294,133
Valeant Pharmaceuticals International, Inc. 6.125% 2025 11,130,000 10,613,012
Valeant Pharmaceuticals International, Inc. 7.50% 2021 4,955,000 5,060,294
Valeant Pharmaceuticals International, Inc. 8.5% 2027 575,000 605,188
Valeant Pharmaceuticals International, Inc. 9.00% 2025 2,540,000 2,743,302
Valeant Pharmaceuticals International, Inc. 9.25% 2026 4,810,000 5,200,813
Valeant Pharmaceuticals International, Inc., Term Loan B, (3-month USD-LIBOR + 3.00%) 5.104% 2025 1,633,125 1,643,332
Vector Group Ltd. 6.125% 2025 1,530,000 1,422,900
Venator Materials Corp. 5.75% 2025 3,265,000 2,979,313
VeriSign, Inc. 4.625% 2023 200,000 203,932
VeriSign, Inc. 4.75% 2027 200,000 195,690
VeriSign, Inc. 5.25% 2025 200,000 204,500
Veritas Holdings Limited 7.50% 2023 1,655,000 1,611,970
Verscend Holding Corp Term Loan B, (3-month USD-LIBOR + 4.50%) 6.566% 2025 1,230,000 1,236,919
Vertafore Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 9.326% 2026 2,425,000 2,446,975
Vine Oil & Gas LP 8.75% 2023 1,700,000 1,666,000
Vine Oil & Gas LP 9.75% 2023 1,875,000 1,875,000
Vine Oil & Gas LP, Term Loan, (3-month USD-LIBOR + 6.875%) 8.951% 2021 1,725,000 1,736,859
Virgin Australia Holdings Ltd. 7.875% 2021 1,100,000 1,097,250
Virgin Australia Holdings Ltd. 8.50% 2019 1,425,000 1,451,719
Vistra Operations Company LLC 5.5% 2026 575,000 582,188
WPX Energy Inc. 5.75% 2026 1,000,000 1,016,250
WPX Energy Inc. 6.00% 2022 516,000 537,285
Warner Music Group 5.00% 2023 1,200,000 1,203,000
Warner Music Group 5.50% 2026 1,000,000 995,000
Warner Music Group 5.625% 2022 2,114,000 2,150,995
Warrior Met Coal, Inc. 8.00% 2024 3,325,000 3,416,438
Weatherford International PLC 4.50% 2022 1,140,000 1,003,200
Weatherford International PLC 6.50% 2036 5,615,000 4,253,363
Weatherford International PLC 6.75% 2040 5,355,000 4,123,350
Weatherford International PLC 7.75% 2021 1,910,000 1,902,838
Weatherford International PLC 8.25% 2023 225,000 213,750
Weatherford International PLC 9.875% 2024 1,725,000 1,694,813
Weatherford International PLC 9.875% 2025 2,725,000 2,643,250
Whiting Petroleum Corp. 6.625% 2026 1,050,000 1,095,938
Wind Tre SpA 5.00% 2026 4,875,000 4,263,943
Wyndham Worldwide Corp. 5.375% 2026 1,325,000 1,320,031
Wynn Las Vegas, LLC and Wynn Capital Corp. 4.25% 2023 2,823,000 2,710,080
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.25% 2027 1,830,000 1,701,900
Wynn Las Vegas, LLC and Wynn Capital Corp. 5.50% 2025 7,275,000 7,047,656
Wynn Macau, Ltd. 4.875% 2024 1,500,000 1,415,835
Zayo Group Holdings, Inc. 5.75% 2027 700,000 703,150
Zayo Group Holdings, Inc. 6.375% 2025 900,000 938,493
Zekelman Industries Inc. 9.875% 2023 520,000 566,150
Ziggo Bond Finance BV 5.50% 2027 6,950,000 6,538,213
Ziggo Bond Finance BV 5.875% 2025 950,000 896,563
iHeartCommunications, Inc. 9.00% 2019 1,025,000 776,438
iHeartCommunications, Inc., Term Loan D, (3-month USD-LIBOR + 6.75%) 8.826% 2019 1,725,000 1,289,796
iStar Financial Inc. 6.50% 2021 700,000 717,486
inVentiv Health, Inc. 7.50% 2024 1,840,000 1,955,000
j2 Global, Inc. 6.00% 2025 722,000 743,660

For financial professionals only. Not for use with the public. Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses for the American Funds and the American Funds Insurance Series® , which can be obtained from a financial professional and should be read carefully before investing.

*Excludes certain securities in initial period of acquisition.