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Portfolio holdings

American Funds Short-Term Tax-Exempt Bond Fund®

As of March 31, 2014 (updated quarterly, upon availability)

Fixed-income securities* Shares or principal amount Market value
AK SFM PAC (50-500) PSA 12A SF 4.0% 06-01-40 875,000 $932,181
AL ST FED HWY GANS 5.0% 09-01-17 1,750,000 $1,986,705
AL ST FED HWY GANS 5.0% 09-01-18 2,315,000 $2,678,339
ALABAMA ST PUB SCH & COLLEGE 09A 5.0% 05-01-15 2,000,000 $2,105,220
ALABAMA TOBACCO SETTLEMENT 12A 5.0% 06-01-18 1,500,000 $1,713,315
ALLEN OH CATH HEALTHCARE PARTNERS 5.0% 09-01-14 2,000,000 $2,039,380
AMARILLO TX HLTH BAPTIST ST ANTHONY FSA/AGM ETM 5.5% 01-01-15NC 1,820,000 $1,876,547
ANTELOPE VLY-E KERN WTR CA SER A-2 COPS SF WFRN 06-01-37/WF/BUS 1,000,000 $1,000,000
ATLANTA GA PIEDMONT/ELLIS STD HSG 5.0% 09-01-17 850,000 $961,597
ATLANTA GA PIEDMONT/ELLIS STD HSG 5.0% 09-01-18 1,000,000 $1,152,300
ATLANTA GA PIEDMONT/ELLIS STD HSG 5.0% 09-01-19 760,000 $882,717
ATLANTA GA WTR & SWR 13B 5.0% 11-01-19 2,000,000 $2,337,400
AZ PUB/MARICOPA CNTY PCR 12B DFRN 05-01-29/JPM/BUS 5,000,000 $5,000,000
AZ SCH FAC BRD REV AMBAC 5.0% 07-01-18 2,000,000 $2,236,740
AZ SCH FAC COP NATL-FGIC 5.0% 09-01-14 2,585,000 $2,637,501
AZ ST TRANS HWY 11A 5.0% 07-01-17 2,000,000 $2,269,960
BAY AREA TOLL AUTH 06C1 SF CA FRN SF SIFMA+90BP (MPT) 04-01-45/05-01-23 6,600,000 $6,530,370
BAY AREA TOLL AUTH E3 SAN FRAN CA FRN SF SIFMA+70BP (MPT) 04-01-47/10-01-19 3,000,000 $2,998,560
BRECKINRIDGE CNTY KY A DFRN 02-01-32/JPM/BUS 790,000 $790,000
BROWARD CO FL ARPT O 5.0% 10-01-15 1,575,000 $1,685,077
BUCK INSTITUTE AGE RESH/CA INFRA SF WFRN 11-15-37/MS/BUS 12,000,000 $12,000,000
BURKE CO GA PWR PCR (MPT) 1.2% 10-01-32/04-01-14 1,000,000 $1,000,000
CA HLTH FAC CITY OF HOPE 12A 5.0% 11-15-17 500,000 $570,490
CA HLTH FAC DIGNITY HEALTH (MPT) 4.95% 07-01-26/14 1,000,000 $1,011,310
CA HLTH FAC PARADISE VALLEY ESTATES CA MTGE 4.0% 01-01-18 450,000 $485,393
CA HLTH SUTTER HLTH 11D 5.0% 08-15-18 515,000 $599,676
CA INFRA EDB J. PAUL GETTY A1 SIFMA+28BP FRN (MPT) SF 10-01-47/04-01-16 2,000,000 $1,999,500
CA INFRA EDB J. PAUL GETTY A1 SIFMA+50BP FRN (MPT) SF 04-01-38/14 7,500,000 $7,499,925
CA INFRA EDB J. PAUL GETTY B1 SIFMA+30BP FRN (MPT) SF 10-01-47/04-01-15 530,000 $530,175
CA MFA MEADOWBROOK A MFH 0.5% 04-01-15 2,500,000 $2,503,600
CA PUB WKS CA ST UNIV 13H 5.0% 09-01-17 600,000 $684,858
CA PUB WKS CA ST UNIV 13H 5.0% 09-01-18 650,000 $755,658
CA ST A2 RANS 2.0% 06-23-14 15,000,000 $15,063,300
CA ST DWR PWRSUPPLY REV 10L 5.0% 05-01-14 2,000,000 $2,008,220
CA ST DWR PWRSUPPLY REV 10L 5.0% 05-01-15 2,000,000 $2,104,840
CA ST DWR PWRSUPPLY REV 10L 5.0% 05-01-17 905,000 $1,024,940
CA ST DWR PWRSUPPLY REV M 5.0% 05-01-14 2,000,000 $2,008,220
CA ST ECON REC 09B (MPT) 5.0% 07-01-23/14 1,250,000 $1,265,125
CA ST GO 5.0% 04-01-18 3,000,000 $3,456,690
CA ST JOSEPH HLTH HOSP CA-B (MPT) 5.0% 07-01-43/10-17-17 1,145,000 $1,303,766
CA ST JOSEPH HLTH HOSP CA-B 5.0% 07-01-15 1,000,000 $1,059,440
CA ST JOSEPH HLTH HOSP CA-C (MPT) 5.0% 07-01-34/10-16-14 4,500,000 $4,617,900
CA ST JOSEPH HLTH HOSP CA-D (MPT) 5.0% 07-01-43/10-15-20 1,500,000 $1,747,035
CA STWD KAISER PERMANENTE 12C (MPT) 5.0% 11-01-29/05-01-17 1,700,000 $1,917,311
CANADIAN RVR WTR TX AMBAC 5.0% 02-15-16 2,285,000 $2,378,091
CHEVRON/MS FIN COMM GULF 10B WFRN 12-01-30/BAR/BUS 1,000,000 $1,000,000
CHEVRON/MS FIN COMM GULF 10K DFRN 11-01-35/BAR/BUS 2,500,000 $2,500,000
CHEVRON/MS FIN COMM GULF 11A DFRN 11-01-35/WF/BUS 6,445,000 $6,445,000
CHEVRON/MS FIN CORP SER 09C DFRN 12-01-30/WF/BUS 4,200,000 $4,200,000
CHEVRON/MS FIN CORP SER 09F DFRN 12-01-30/MS/BUS 3,500,000 $3,500,000
CHICAGO IL AIRPORT OHARE 11B GARB/LOI EL REF 3RD LIEN 4.0% 01-01-15 1,000,000 $1,028,270
CHICAGO IL AIRPORT OHARE 13A AMT SR LIEN 4.0% 01-01-19 1,925,000 $2,095,382
CHICAGO IL AIRPORT OHARE AMT 10D 3RD LIEN 5.25% 01-01-18 750,000 $852,315
CHICAGO IL MIDWAY ARPT 2ND LIEN (MPT) PREREF 5.0% 01-01-34/15 900,000 $932,319
CHICAGO IL MIDWAY ARPT 2ND LIEN AMBAC 5.0% 01-01-15 1,000,000 $1,034,680
CHICAGO IL MIDWAY ARPT 2ND LIEN AMT WFRN SF 01-01-35/WF/BUS 2,330,000 $2,330,000
CHICAGO IL WASTEWATER 06B 2ND LIEN NATL-FGIC 5.0% 01-01-18 370,000 $402,608
CHICAGO IL WASTEWATER 2ND LIEN 5.0% 01-01-18 600,000 $670,578
CITIZENS PLA/CLA 12A1 5.0% 06-01-17 1,000,000 $1,118,480
CITIZENS PPTY INS CORP FL COASTAL 09A1 6.0% 06-01-17 1,300,000 $1,493,440
CITIZENS PPTY INS CORP FL COASTAL 10A1 5.0% 06-01-15 1,000,000 $1,055,100
CITIZENS PPTY INS CORP FL COASTAL 10A1 5.0% 06-01-16 4,905,000 $5,345,077
CLARK CO JET FUEL 13A AMT 5.0% 07-01-19 2,000,000 $2,278,820
CLARK CO NV ARPRT A1 AMT SUB LIEN NATL-FGIC PREREF 5.5% 07-01-15/14 1,000,000 $1,012,920
CLARK CO NV ARPRT A1 AMT SUB LIEN NATL-FGIC PREREF 5.5% 07-01-17/14 4,500,000 $4,558,140
CLARK CO NV ARPRT PFC REFDG 5.0% 07-01-15 1,500,000 $1,584,675
CLEVELAND OH ARPT SYS REV 11A AGM 5.0% 01-01-16 4,500,000 $4,831,425
CLEVELAND OH ARPT SYS REV C FSA/AGM 5.0% 01-01-17 2,500,000 $2,761,550
CO HLTH SISTERS CHARITY LEAVENWORTH B 5.0% 01-01-15 1,220,000 $1,263,810
CO ST DOT 2011 5.0% 12-15-16 5,000,000 $5,599,950
COMPARK BUS CAMPUS CO RADIAN ETM 5.0% 12-01-16 1,000,000 $1,112,730
CT HFA SFH PAC (85-500) PSA AMT SER 12F2 SF 2.75% 11-15-35 960,000 $968,755
DALLAS TX GO PREREF 5.0% 02-15-18/17 1,610,000 $1,805,406
DARTMOUTH COLL/NH HLTH&ED 07A DFRN SF 06-01-31/JPM/BUS 1,900,000 $1,900,000
DC PITS SIFMA+60BP 11E FRN 12-01-15 2,500,000 $2,508,025
DC WTR & SWR REV 12B-2 SIFMA+58BP FRN (MPT) 10-01-40/06-06-16 2,300,000 $2,307,015
DE SFM AMT (125-400) SF 5.6% 07-01-39 1,045,000 $1,058,878
DEKALB CO GA WTR SWR 11A 5.0% 10-01-17 500,000 $569,635
DENVER CO AIRPORT SUB AMT 13A 5.0% 11-15-20 1,000,000 $1,149,890
DETROIT MI SD GO 12A 5.0% 05-01-18 2,225,000 $2,451,616
DETROIT MI SD GO 5.0% 06-01-16 500,000 $535,975
DFW TX ARPT AMT JT IMPT 13E 5.0% 11-01-19 2,000,000 $2,301,060
DFW TX ARPT JT REV 13F 5.0% 11-01-18 1,000,000 $1,155,290
DFW TX ARPT JT REV 13F 5.0% 11-01-19 500,000 $582,135
EMPIRE ST UDC PIT A1 5.0% 12-15-17 2,010,000 $2,313,128
EMPIRE ST UDC SVC CONTRACT 10A1 4.0% 01-01-16 2,000,000 $2,125,240
ENERGY NW WA ELEC 12-1A 5.0% 07-01-15 1,250,000 $1,325,925
ENERGY NW WA ELEC 12-1A 5.0% 07-01-17 5,000,000 $5,674,900
ERIE CO NY IDA SCH FAC BUFFALO 12A 5.0% 05-01-18 1,500,000 $1,723,785
EXXON/GULF COAST TX 01B AMT DFRN 06-01-25/MS/BUS 700,000 $700,000
EXXON/LINCOLN CNTY WY 87C AMT DFRN 07-01-17/CITI/CAL 1,950,000 $1,950,000
FL HFC SFH PAC (75-400) AMT SER 1 SF 5.0% 07-01-41 1,490,000 $1,612,061
FL HFC SFH PAC (75-400) SF 5.5% 01-01-41 1,665,000 $1,787,161
FL HFC SFH PAC (75-500) 11C 4.5% 01-01-30 890,000 $962,019
FL HURRICANE CATASTROPHE FUND FIN CORP 5.0% 07-01-15 4,000,000 $4,235,680
FL HURRICANE CATASTROPHE FUND FIN CORP 5.0% 07-01-16 5,295,000 $5,819,258
FL PORTS TRANS FUND AMT 11B 5.0% 06-01-15 1,000,000 $1,056,690
FL ST BOARD OF ED GO 5.0% 06-01-15 3,000,000 $3,170,550
FL ST BOARD OF ED GO SER D 5.0% 06-01-15 1,000,000 $1,056,850
FL ST TPK AUTH REV DEPT TRANS 5.0% 07-01-14 2,395,000 $2,424,363
FL WTR PCR SER A 4.0% 01-15-17 1,000,000 $1,091,520
GA HFA SFH PAC 3.0% 06-01-43 1,640,000 $1,697,023
GA HFA SFM PAC (100-500 PSA) 14A-1 4.0% 06-01-44 1,000,000 $1,083,170
GOLDEN ST TOBACCO SEC CORP ST APPROP 13A 5.0% 06-01-19 2,000,000 $2,286,380
GRAND PKWY TX TOLL (TELA BANS) 14A 3.0% 12-15-16 8,150,000 $8,667,525
GRANT CNTY WA PUD 11I ETM 5.0% 01-01-17 1,250,000 $1,397,038
GRANT CNTY WA PUD PRP AMT 5.0% 01-01-16 1,250,000 $1,347,075
GTR ORLANDO FL AVIATION A AMT 5.5% 10-01-15 1,800,000 $1,941,246
HARRIS CNTY TX TOLL RD 12B SIFMA+59BP FRN (MPT) 08-15-21/15 1,000,000 $1,002,820
HAWAII AIRPORT LSE REV COP AMT 5.0% 08-01-19 1,000,000 $1,113,730
HAWAII ST GO SER 11DZ 5.0% 12-01-17 2,500,000 $2,871,925
HILLSBRGH CO FL AVIATION TAMPA ARPT 01A FSA/AGM 5.5% 10-01-15 2,200,000 $2,369,862
HONOLULU HI GO 12B 5.0% 11-01-18 1,000,000 $1,169,330
HOUSTON TX AIRPORT SUB LIEN AMT 11A 5.0% 07-01-15 1,000,000 $1,058,790
HOUSTON TX AIRPORT SUB LIEN AMT 12A 5.0% 07-01-18 1,000,000 $1,145,120
HOUSTON TX COMB UTIL SYS 12B SIFMA+75BP FRN (MPT) SF 05-15-34/06-01-17 2,450,000 $2,472,344
HOUSTON TX COMB UTIL SYS SIFMA+60BP FRN (MPT) SF 05-15-34/08-01-16 1,000,000 $1,003,630
HOUSTON TX CONV CTR 11A 5.0% 09-01-14 1,000,000 $1,020,130
HOUSTON TX GO 11A 5.0% 03-01-16 2,000,000 $2,176,100
HOUSTON TX ISD PSF 13B (MPT) SF 1.0% 06-01-35/14 6,000,000 $6,007,860
HOUSTON TX ISD PSF 13B (MPT) SF 2.0% 06-01-37/16 3,400,000 $3,498,328
HOUSTON TX UTILITY WTR/SWR 14C 5.0% 05-15-20 1,000,000 $1,179,940
IA HLTH SYS FIN AUTH 09B DFRN SF 02-15-35/JPM/CAL 750,000 $750,000
IDAHO HFA GARVEE 09A 5.0% 07-15-17 2,525,000 $2,847,948
IL BUILD SALES TAX REV 5.0% 06-15-14 1,500,000 $1,515,090
IL BUILD SALES TAX REV JR OBLIG 5.0% 06-15-20 3,500,000 $4,074,770
IL ED FAC AUTH UNIV CHICAGO 01-B1 (MPT) 1.10% 07-01-36/02-15-18 1,250,000 $1,239,538
IL ED FAC AUTH UNIV CHICAGO 14B (MPT) 1.65% 07-01-25/02-01-19 10,390,000 $10,357,895
IL FIN AU ADVOCATE HLTH 08A1 SF (MPT) 5.0% 11-01-30/01-15-20 2,500,000 $2,867,925
IL FIN AU ADVOCATE HLTH A3 SF (MPT) 5.0% 11-01-30/05-01-19 2,000,000 $2,311,520
IL FIN AUTH CLEAN WTR 5.0% 07-01-19 2,000,000 $2,338,320
IL FIN AUTH DEPAUL UNIV 5.0% 10-01-18 500,000 $575,750
IL FIN AUTH UNIV CHICAGO MED 5.0% 08-15-15 1,200,000 $1,277,484
IL STATE TOLL HWY 14A 5.0% 12-01-19 1,500,000 $1,763,295
IL STATE TOLL HWY REFDG 13B 5.0% 12-01-18 1,750,000 $2,040,325
IL UNEMPLOYMENT INSURANCE 12A 5.0% 12-15-16 4,000,000 $4,477,880
IL UNEMPLOYMENT INSURANCE 12B 5.0% 12-15-17 1,500,000 $1,671,000
IL UNIV BD REGENTS AUX FAC 11A 4.0% 04-01-15 500,000 $518,560
ILLINOIS ED ART INSTITUTE 5.0% 03-01-15 1,100,000 $1,145,925
ILLINOIS ST GO FSA/AGM 5.5% 05-01-16 2,000,000 $2,199,160
IN FIN AUTH BEACON HLTH SYS 13A 5.0% 08-15-16 1,000,000 $1,103,670
IN FIN AUTH BEACON HLTH SYS 13A 5.0% 08-15-17 1,250,000 $1,413,175
IN HLTH ASCENSION HEALTH 05A-5 (MPT) SF 2.0% 11-01-27/08-01-17 2,000,000 $2,061,940
IN HLTH ASCENSION HEALTH 11A-1 (MPT) 1.5% 11-15-36/08-01-14 2,000,000 $2,008,000
IN HLTH ASCENSION HEALTH SUB A6 (MPT) 5.0% 10-01-27/06-01-14 3,000,000 $3,023,850
IN ST FIN AUTH UNIV HLTH 11N 5.0% 03-01-17 2,500,000 $2,788,300
IND LOCAL PUB IMP 09A AGC 5.0% 01-01-17 1,325,000 $1,470,869
IND LOCAL PUB IMP 5.0% 02-01-15 2,000,000 $2,079,860
INDIANAPOLIS IN AIRPORT F AMBAC AMT 5.0% 01-01-15 2,000,000 $2,068,580
INOVA HLTH/IDA FAIRFAX VA SER 05-C1 DFRN SF 05-15-26/JPM/CAL 2,200,000 $2,200,000
INTERMOUNTAIN PWR SUB 13A 5.0% 07-01-18 2,000,000 $2,311,700
JACKSON ST UNIV FSA/AGM (MPT) SF 5.0% 03-01-34/15 1,695,000 $1,762,732
JEA FL ST JOHNS RIVER PWR PRK I-2 SER 23 5.0% 10-01-17 1,750,000 $2,000,548
JEFFRSN LA NONAMT SFM SF FNMA/GNMA/FHLMC 5.7% 06-01-39/A.L.12-14-12 100-400%PSA 1,165,000 $1,220,990
KENT CO MI SPECTRUM HEALTH (MPT) SF 5.5% 01-15-47/15 5,000,000 $5,203,600
KS ST DFA ADVENTIST HEALTH SUNBELT SER D 5.0% 11-15-14 225,000 $231,719
KY HIGHER ED STUDENT LN LIBOR FRN 1-A1 (L+50) 05-01-20 230,000 $228,822
LA CA AIRPORT LAXFUEL AMT 5.0% 01-01-18 310,000 $350,688
LA CA AIRPORT LAXFUEL AMT 5.0% 01-01-19 525,000 $600,238
LA CA AIRPORT LAXFUEL FSA/AGM AMT 5.0% 01-01-17 1,120,000 $1,157,285
LA CA HARBOR SER 11A AMT 3.0% 08-01-15 1,000,000 $1,035,830
LA CO CA MTA SALES TAX REV 13A FWD 5.0% 07-01-18 3,000,000 $3,506,910
LA CO CA MTA SALES TAX REV SR 1ST TIER 5.0% 07-01-14 1,180,000 $1,194,549
LA TOBACCO SETTLEMENT 13A 5.0% 05-15-17 1,000,000 $1,101,330
LAKELAND FL ENERGY SIFMA+75BP FRN 10-01-17 3,800,000 $3,808,056
LAS VEGAS NV WTR 11C 5.0% 06-01-16 2,000,000 $2,189,200
LAS VEGAS NV WTR 11D 5.0% 06-01-17 1,185,000 $1,334,737
LAS VEGAS NV WTR 12B 5.0% 06-01-18 1,000,000 $1,149,640
LEE CNTY FL ARPT AMT AGC 5.0% 10-01-14 2,575,000 $2,637,804
LONG BEACH CA HBR AMT NATL-FGIC 5.0% 05-15-14 1,000,000 $1,005,940
MA HIGHER ED STUDENT LN 12J AMT 5.0% 07-01-18 1,000,000 $1,118,370
MA PORT AUTH 12A AMT 3.0% 07-01-17 660,000 $700,465
MA PORT AUTH 12A AMT 5.0% 07-01-15 360,000 $381,164
MA ST DFA PARTNERS HEALTHCARE 11-K4 SF (MPT) 5.0% 07-01-35/01-14-16 500,000 $539,560
MA ST DFA PARTNERS HEALTHCARE 12L 5.0% 07-01-16 890,000 $979,169
MA ST DFA PARTNERS HEALTHCARE 14M-3 SIFMA+55BP FRN (MPT)SF 07-01-38/01-30-18 6,110,000 $6,109,084
MA ST HSG SFH PAC (75-500) SER 165 SF 2.65% 12-01-41 2,535,000 $2,555,331
MA ST HSG SFH PAC AMT 75-500 SER 160 SF 3.75% 06-01-34 760,000 $784,282
MA ST HSG SFM PAC (100-500) 5 YR SER 169 SF 4.0% 12-01-44 1,000,000 $1,083,340
MA ST HSG SFM PAC (100-500) 5YR SER 167 SF 4.0% 12-01-43 1,080,000 $1,166,497
MA ST HSG SFM PAC SER 162 SF 2.75% 12-01-41 865,000 $892,446
MA ST SCH BLDG AUTH SR SALES TAX REV 12B 5.0% 08-15-18 2,000,000 $2,328,600
MASS DFA BOSTON UNIV 13U1 FRN SIFMA+58BP (MPT) SF 10-01-40/03-30-17 1,000,000 $1,001,290
MASS GO SIFMA+43BP 12D FRN 01-01-18 1,000,000 $1,004,490
MASS GO SIFMA+45BP 12A FRN 09-01-15 2,500,000 $2,504,625
MASS GO SIFMA+52BP 12A FRN 09-01-16 2,000,000 $2,007,580
MD CDA SFM PAC AMT 14B SF 3.25% 09-01-44 3,600,000 $3,706,704
MD H&HE JOHNS HOPKINS HLTH LIBOR FRN 12D (MPT) (L+83) 05-15-38/11-15-17 1,400,000 $1,405,950
MD STADIUM LEASE REV AMT 11B 5.0% 12-15-17 1,000,000 $1,138,270
MD TRANS AUTH BWI PKG REV AMT 5.0% 03-01-18 1,000,000 $1,125,410
ME ST HSG SFM 13B PAC (70-400%) PSA SF 4.0% 11-15-43 1,805,000 $1,900,340
ME ST HSG SFM 14A-1 PAC (75-100%) AMT SF 3.25% 11-15-43/A.L. 02-27-19 1,000,000 $1,032,410
MEMPHIS-SHELBY TN ARPT AMT 08A FSA/AGM 5.0% 03-01-16 1,000,000 $1,075,120
MEMPHIS-SHELBY TN ARPT AMT 11A1 5.0% 07-01-16 3,220,000 $3,491,156
MET WA DC AIR AMT 11C 4.0% 10-01-16 2,000,000 $2,158,600
MET WA DC AIR AMT SER B 4.0% 10-01-14 1,000,000 $1,019,010
MET WTR REV DIST SO CA 12B2 SIFMA+35BP FRN (MPT) SF 07-01-27/05-01-15 2,000,000 $2,003,680
MI FIN AUTH CLEAN WATER PROJECT 2012 5.0% 10-01-18 1,000,000 $1,168,830
MI FIN AUTH UNEMPLOYMENT OBLIG 12A 5.0% 07-01-18 2,000,000 $2,325,240
MI ST BLDG AUTH REV 5.5% 10-15-17 1,000,000 $1,150,130
MI ST HSP TRINITY HLTH SYS 5.0% 12-01-15 1,000,000 $1,076,270
MI ST UNIV 5.0% 08-15-15 2,000,000 $2,132,200
MIAMI-DADE CO FL EXPWY TOLL RD 13A 5.0% 07-01-18 1,000,000 $1,148,240
MIAMI-DADE CO FL EXPWY TOLL RD 13A 5.0% 07-01-19 1,000,000 $1,152,820
MIAMI-DADE CO FL EXPWY TOLL RD 13A 5.0% 07-01-20 1,000,000 $1,152,250
MIAMI-DADE FL AVIATION 05B AMT AGM 5.0% 10-01-16 3,000,000 $3,201,840
MIAMI-DADE FL AVIATION 12A AMT 4.0% 10-01-17 2,115,000 $2,305,562
MIAMI-DADE FL ED UNIV OF MIAMI FL AMBAC 5.0% 04-01-14 1,595,000 $1,595,000
MILWAUKEE CNTY WI ARPT REV AMT 5.0% 12-01-15 1,315,000 $1,418,398
MN SFH PAC (100-500) 14A SF 4.0% 07-01-38/A.L. 03-26-19 1,575,000 $1,706,402
MN SFH PAC (75-400) 12D SF 4.0% 07-01-40 1,500,000 $1,606,845
MN SFH PAC (75-500) 11G GNMA/FNMA SF 4.25% 07-01-35 1,135,000 $1,234,108
MN SFM PAC (100-500) AMT 13A SF 3.0% 07-01-31 1,145,000 $1,174,278
MN ST APPROP 12B 5.0% 03-01-17 2,000,000 $2,246,340
MO ST HSG SFM C SF GNMA/FNMA/FHLMC 4.9% 09-01-36 615,000 $627,337
MO ST HSG SFM E-4 PAC 75-400% GN/FN/FH SF 4.25% 11-01-30 860,000 $928,121
MO ST HSG SFM PAC D GNMA/FNMA 4.80% 03-01-40 975,000 $992,170
MOBILE PCR ALA PWR (MPT) 5.0% 06-01-34/03-09-15 1,000,000 $1,041,490
MONTGOMERY CO MD BANS 06A DFRN SF 06-01-26/BAR/CAL 1,800,000 $1,800,000
MS DEV BANK HARRISON CO MS HIGHWAY 13A 5.0% 01-01-19 850,000 $982,294
MS SFM PAC (85-400) SF GNMA/FNMA/FHLMC 5.0% 12-01-39 1,090,000 $1,177,767
MT SFM AMT PAC (75-500% PSA) 12-A2 SF 4.0% 12-01-38 2,630,000 $2,688,360
MTA NY DEDICATED TAX 02B-3A SIFMA+75BP FRN 11-01-17 2,000,000 $2,009,720
MTA NY DEDICATED TAX A 4.0% 11-15-14 2,000,000 $2,048,600
MTA NY SVC CONTRACT 02A XLCA 5.75% 01-01-16 1,525,000 $1,668,121
MTA NY TRANSPORT REV 08B1 5.0% 11-15-15 2,000,000 $2,154,380
MTA NY TRANSPORT REV 14A-1 4.0% 11-15-19 750,000 $836,363
N CENT TX CHILDRENS MED CTR DALLAS 5.0% 08-15-18 1,000,000 $1,149,420
NC MED WAKE FOREST BAP SIFMA+74BP FRN C (MPT) SF 12-01-33/17 2,905,000 $2,894,920
ND SFM PAC 12A SF 3.75% 07-01-42 3,680,000 $3,784,402
NE IFA SFH PAC (75-400) 4 YR13E GNMA/FNMA/FHLMC SF 3.0% 09-01-43 2,055,000 $2,140,878
NE IFA SFH PAC (75-500) 13A SF 2.5% 09-01-34 1,500,000 $1,542,660
NEVADA SYSTEM HI/ED AMBAC 5.0% 07-01-14 2,000,000 $2,024,260
NEW YORK CITY GO 08 L-4 DFRN SF 04-01-38/USBANK/BUS 2,000,000 $2,000,000
NEW YORK CITY GO 08J-4 SIFMA+55 FRN STEP SF 08-01-25/04-02-18 5,000,000 $4,999,550
NEW YORK CITY GO 11I-1 5.0% 08-01-15 1,000,000 $1,064,500
NEW YORK CITY GO 11I-1 5.0% 08-01-17 1,000,000 $1,134,200
NEW YORK CITY GO 12I 5.0% 08-01-18 1,000,000 $1,153,330
NEW YORK CITY GO 14-A6 SIFMA+50BP FRN STEP SF 08-01-31/04-02-18 2,500,000 $2,500,475
NEW YORK CITY GO B 5.0% 08-01-15 1,000,000 $1,064,500
NEW YORK CITY GO C 5.0% 08-01-14 1,000,000 $1,016,300
NEW YORK CITY GO C 5.0% 08-01-15 1,000,000 $1,064,500
NH TURNPIKE 12B 5.0% 02-01-17 2,000,000 $2,234,820
NJ EDA SCHOOL CONSTRCTN J PREREF (MPT) FSA/AGM SF 5.0% 09-01-29/15 2,000,000 $2,135,780
NJ EDA SCHOOL CONSTRUCTION DD1 5.0% 12-15-16 1,500,000 $1,676,265
NJ HIED STU LN 10-2 5.0% 12-01-14 2,000,000 $2,063,520
NJ HIED STU LN 12-1A AMT 4.0% 12-01-17 3,500,000 $3,735,935
NJ HIED STU LN 12-1A AMT 5.0% 12-01-18 2,000,000 $2,216,980
NJ HLTH CARE MHAC I LLC A5 WFRN 07-01-36/WF/BUS 2,700,000 $2,700,000
NJ ST TPK AUTH 13D SIFMA+62BP FRN (MPT) 01-01-23/17 2,000,000 $2,010,720
NJ ST TPK AUTH 13D SIFMA+68BP FRN (MPT) 01-01-24/18 2,000,000 $2,010,500
NJ TRANSIT TRUST 12AA 5.0% 06-15-17 1,000,000 $1,127,990
NJ TRANSIT TRUST A AMBAC 5.5% 12-15-15 2,000,000 $2,176,800
NM EDU ASSISTANCE AMT SER C 3.9% 09-01-14 3,000,000 $3,038,340
NM EDU ASSISTANCE SER A2 LIBOR FRN (L+65) 12-01-28 220,000 $218,893
NM MFA SFM CL-IA SF GNMA/FNMA/FHLMC PAC 4.25% 03-01-43 1,485,000 $1,614,908
NM MFA SFM CL-ID SF GNMA/FNMA/FHLMC PAC 5.35% 09-01-40/A.L. 12-16-14 (85-400) 1,170,000 $1,250,660
NO TX TOLLWAY 1ST TIER 12C (MPT) 1.95% 01-01-38/19 2,380,000 $2,361,888
NORTHSIDE TX ISD PSF 11A SF (MPT) 1.35% 06-01-39/14 1,930,000 $1,933,686
NY DORM AUTH MT SINAI HOSP 5.0% 07-01-14 1,000,000 $1,012,090
NY DORM NO SHORE LONG ISLAND JEWISH HLTH 11A 4.0% 05-01-16 2,555,000 $2,724,678
NY ST DORM AUTH PIT 09D 5.0% 06-15-15 2,500,000 $2,647,475
NY ST DORM AUTH PIT 11A 5.0% 03-15-17 2,500,000 $2,812,550
NY ST DORM AUTH PIT 14A 5.0% 02-15-20 2,000,000 $2,354,080
NY ST DORM AUTH SVC CONTRACT 09A 5.0% 07-01-15 2,000,000 $2,119,140
NY ST HOMEOWNER MTG PAC (75-400% PSA) SER 178 SF 3.5% 10-01-43 2,600,000 $2,751,762
NY ST TWY AUTH 13A 5.0% 05-01-19 4,700,000 $5,446,078
NY ST TWY SVC CONTRACT HWY & BRDG 5.0% 04-01-15 2,000,000 $2,097,100
NY TOBACCO SETTLEMENT CORP 11B 5.0% 06-01-15 2,000,000 $2,110,680
NY TOBACCO SETTLEMENT CORP 13B 5.0% 06-01-19 1,000,000 $1,007,770
NY TOBACCO SETTLEMENT CORP 13B 5.0% 06-01-20 2,900,000 $3,148,733
NY TOBACCO SETTLEMENT CORP 13B 5.0% 06-01-20 1,000,000 $1,051,200
NYC HLTH AND HOSP 10A 5.0% 02-15-15 1,000,000 $1,041,740
NYC HLTH AND HOSP 10A 5.0% 02-15-17 3,000,000 $3,348,870
NYC TFA FUT TAX SEC B 5.0% 02-01-16 500,000 $541,870
NYC TFA FUT TAX SEC SUB 3B-1 5.0% 11-01-14 2,000,000 $2,057,320
OAKLAND CA SUB CENT DISTRICT REDEV TAL 4% 09-01-18 2,500,000 $2,740,750
OAKLAND CA SUB CENT DISTRICT REDEV TAL 5% 09-01-17 2,510,000 $2,813,183
OAKLAND CA SUB CENT DISTRICT REDEV TAL 5% 09-01-18 1,085,000 $1,230,488
OAKLAND CA SUB CENT DISTRICT REDEV TAL 5% 09-01-19 1,000,000 $1,142,620
OH GARVEE 12-1 4.0% 12-15-18 1,750,000 $1,957,865
OH GARVEE 12-1 5.0% 12-15-17 1,000,000 $1,142,210
OH ST WTR DEV AUTH REV SIFMA+40BP FRN (MPT) 07-15-35/15 2,500,000 $2,499,875
OHIO HFA PAC 75-400% PSA 5.0% 11-01-28 1,440,000 $1,546,690
OHIO HSG SFM PAC (75-400) 11-1 GNMA/FNMA SF 4.8% 11-01-28 715,000 $769,826
OHIO ST GO COMMON SCHS 11A 5.0% 09-15-16 1,750,000 $1,944,565
OK ST MUNI PWR AUTH SIFMA+80BP FRN (MPT) SF 01-01-23/08-01-18 1,840,000 $1,845,299
OK TURNPIKE 11A 5.0% 01-01-17 1,215,000 $1,357,568
OR ADMIN SVCS LOTTERY REV 12B 5.0% 04-01-18 1,300,000 $1,500,642
OR PROVIDENCE HLTH C SIFMA+100 FRN (MPT) 10-01-22/09-15-18 3,000,000 $3,016,230
OR PROVIDENCE HLTH C SIFMA+88 FRN (MPT) 10-01-20/17 1,500,000 $1,507,275
OR ST DEPT OF ADMIN COPS 09D 5.0% 11-01-14 1,000,000 $1,028,740
ORL & ORNG FL EXPWY AUTH 5.0% 07-01-18 1,250,000 $1,440,325
ORLANDO FL UTIL COMM 06 5.0% 10-01-18 1,500,000 $1,666,350
PA EDF UNEMPLOYMENT COMP 12A 5.0% 07-01-19 1,500,000 $1,768,635
PA EDF UNEMPLOYMENT COMP 12B 5.0% 07-01-21 4,000,000 $4,517,160
PA ST TPK COMM SIFMA+68BP 13A FRN 12-01-18 1,500,000 $1,504,305
PA ST TPK COMMN SUB AGC 5.0% 06-01-15 1,340,000 $1,412,641
PARKVIEW HLTH HOSP IN 5.0% 05-01-15 2,000,000 $2,097,180
PHILADELPHIA PA PICA 5.0% 06-15-15 750,000 $793,290
PHILADELPHIA PA PUB SCH BLDG AUTH 5.0% 04-01-17 2,500,000 $2,775,600
PHILADELPHIA PA SD 5.0% 06-01-15 2,000,000 $2,100,500
PIMA CO AZ SEWER REV 12A 4.0% 07-01-17 1,000,000 $1,102,960
PIMA CO AZ SEWER REV 12A 5.0% 07-01-18 500,000 $579,950
PORT AUTH NY/NJ SER 167 AMT 5.0% 09-15-14 2,000,000 $2,044,220
PORT AUTH NY/NJ SER 167 AMT 5.0% 09-15-15 1,500,000 $1,601,745
PORT AUTH NY/NJ SER 169 AMT 5.0% 10-15-15 2,000,000 $2,142,780
PORT AUTH NY/NJ SER 169 AMT 5.0% 10-15-17 1,000,000 $1,134,670
PORT OF SEATTLE WA AMT 11B 5.0% 09-01-15 1,000,000 $1,066,600
PORTLAND OR ARPRT AMT 11/21B 5.0% 07-01-15 2,000,000 $2,117,840
PORTLAND OR ARPRT AMT 5.0% 07-01-15 1,000,000 $1,058,920
PR INTER AMERICAN UNIV 5.0% 10-01-16 620,000 $634,167
PT OAKLAND CA SER 11O AMT 5.0% 05-01-16 1,500,000 $1,642,290
PT OAKLAND CA SER 11O AMT 5.0% 05-01-17 1,000,000 $1,124,580
PUBLIC GAS PARTNERS GA POOL #1 5.0% 10-01-14 2,450,000 $2,504,660
PUBLIC GAS PARTNERS GA POOL #1 5.0% 10-01-15 2,000,000 $2,125,920
REG TRANS AUTH LA SALES TAX REV AGM 4.0% 12-01-15 1,000,000 $1,057,410
REG TRANS IL 00A NATL 6.25% 07-01-15 1,425,000 $1,531,490
RI HLTH LIFESPAN OBLIGATED FSA/AGM 5.0% 05-15-16 3,000,000 $3,234,540
RI STUD LOAN AUTH AMT 14A 4.0% 12-01-15 350,000 $368,004
RI STUD LOAN AUTH AMT 14A 5.0% 12-01-16 450,000 $493,655
RI STUD LOAN AUTH AMT 14A 5.0% 12-01-17 700,000 $778,456
RICE UNIV TX 13B SIFMA+53BPS FRN (MPT) 05-15-48/11-16-17 2,000,000 $2,008,320
ROCKLAND CNTY NY AGM 14A 5.0% 03-01-19 675,000 $762,460
ROYAL OAK MI WM BEAUMONT HOSP 6.25% 09-01-14 2,500,000 $2,559,025
SAN ANTONIO E/G REV 12C SF (MPT) 2.0% 12-01-27/16 1,160,000 $1,201,215
SAN ANTONIO TX ARPRT REV AMT 5.0% 07-01-17 1,050,000 $1,182,699
SAN ANTONIO TX ARPRT REV PFC AMT 5.0% 07-01-18 1,515,000 $1,698,270
SAN DIEGO CA REGL AIRPORT AMT AMBAC ETM 5.0% 07-01-14 1,500,000 $1,517,700
SAN FRAN ARPT 11A AMT 5.0% 05-01-15 1,000,000 $1,053,100
SAN JOSE CA AIRPORT 11-A1 AMT 5.0% 03-01-15 1,000,000 $1,041,470
SAN JOSE CA AIRPORT 11-A1 AMT 5.0% 03-01-17 1,595,000 $1,774,150
SANTA CRUZ CA REDEV TAX ALLOC BAM 3.0% 09-01-15 1,065,000 $1,101,327
SANTA CRUZ CA REDEV TAX ALLOC BAM 5.0% 09-01-18 300,000 $343,659
SD HDA SFH AMT PAC (100-400) PSA 13E SF 4.0% 11-01-44 550,000 $583,941
SD HDA SFH AMT PAC (75-400) PSA 12A SF 4.5% 05-01-31 1,575,000 $1,691,393
SD HDA SFH AMT PAC PSA 13A SF 3.0% 11-01-30 900,000 $932,193
SHELBY TN BAPTIST MEMORIAL HEALTH 5.0% 09-01-14 1,000,000 $1,020,070
SNOHOMISH CO WA PUD #1 5.0% 12-01-15 2,000,000 $2,160,640
ST JOSEPH HLTH SYS/CA HLTH 11B DFRN SF 07-01-41/MS/BUS 1,000,000 $1,000,000
ST LOUIS AIRPORT 07B FSA/AGM AMT 5.0% 07-01-16 5,000,000 $5,439,700
ST LOUIS UNIV/MO HLTH & ED SER 08A2 DFRN 10-01-35/WF/BUS 1,850,000 $1,850,000
STONEHILL COLL/MA ST HLTH & ED 08K DFRN SF 07-01-37/JPM/BUS 4,105,000 $4,105,000
TAMPA BAY FL WTR 11A 5.0% 10-01-16 1,250,000 $1,389,563
TAMPA FL BAYCARE HEALTH SYS 5.0% 11-15-15 750,000 $806,813
TAMPA FL CIGAR SALES TAX MOFFITT CANCER 12A 4.0% 09-01-17 925,000 $1,012,884
TAMPA FL UTIL TAX NATL ETM 5.0% 10-01-15 270,000 $289,337
TAMPA FL UTIL TAX NATL UNREF 5.0% 10-01-15 3,615,000 $3,868,809
TEXAS A&M UNIV REV SER D 5.0% 05-15-14 1,000,000 $1,006,010
TN HDA SFH AMT PAC (100-500) 5YR 13-2A SF 4.0% 07-01-43 1,000,000 $1,064,370
TN HDA SFH AMT PAC (75-500) PSA 11A SF 4.5% 07-01-31 2,505,000 $2,683,882
TN HDA SFH PAC (75-400) PSA 12-1C 4.5% 07-01-37/A.L. 06-01-17 1,340,000 $1,473,062
TN HDA SFH PAC (75-400) PSA 13-1C SF 3.0% 07-01-38 1,935,000 $2,011,955
TN HDA SFH PAC AMT (75-400) PSA 12-1A 4.5% 01-01-38/A.L. 06-01-17 1,120,000 $1,179,987
TN HDA SFM PAC PSA 12-2C SF 4.0% 07-01-38 940,000 $1,015,745
TRI-COUNTY OR ST METRO TRANS 3.0% 11-01-16 1,000,000 $1,028,470
TRIBOROUGH B/T NY SER 12B-A LIBOR FRN SF (MPT) 0.363% 01-01-28/14 2,800,000 $2,802,912
TX PFA UNEMPLOYMENT COMP 10A 5.0% 07-01-14 2,000,000 $2,024,560
TX ST GO 2013 TRANS 2.0% 08-28-14 20,000,000 $20,157,200
TX ST TRANS COMM 14B SIFMA+35BP FRN (MPT) SF 04-01-32/17 1,600,000 $1,600,288
TX TRANS COMMISSION 06A 4.5% 04-01-15 1,000,000 $1,043,710
UNIV CHICAGO MED/IL FIN AUTH SER 11B DFRN 08-01-44/WF/BUS 800,000 $800,000
UNIV MI 12F SIFMA+40BP FRN MPT SF 04-01-43/16 3,000,000 $3,005,130
UNIV OF AZ COP 12C 5.0% 06-01-18 2,000,000 $2,284,420
VA ST TRANSPORTATION GARVEE 13 5.0% 03-15-20 3,000,000 $3,543,600
VA TOBACCO SETTLEMENT (T) SF PREREF 5.5% 06-01-26/09-24-14 3,080,000 $3,206,034
VANDERBILT UNIV TN 12B SIFMA+60BP FRN (MPT) SF 10-01-38/17 1,000,000 $1,004,790
VT STUDENT LN AMT LIBOR FRN CL A-1 SER B (L+150) 06-01-22 3,664,565 $3,673,324
WA ECON DEV WASH BIOMEDICAL NATL 5.5% 06-01-15 1,625,000 $1,725,181
WA GARVEE 12F 5.0% 09-01-18 2,000,000 $2,312,020
WA GARVEE 13C 5.0% 09-01-18 1,750,000 $2,023,018
WA ST GO SER 11R-2012A 5.0% 07-01-17 1,250,000 $1,420,025
WA ST HLTH CARE PEACEHEALTH 14A 5.0% 11-15-19 500,000 $576,290
WA ST HLTH CARE PROVIDENCE 12A 5.0% 10-01-18 500,000 $576,455
WA ST SFM 13-1N PAC (75-400) GN/FN/FHLMC SF 3.0% 06-01-43 865,000 $893,104
WA ST SFM 13-1N PAC (75-500) GN/FN/FHLMC SF 3.0% 06-01-37 1,460,000 $1,515,553
WA ST SFM PAC A (75-400) GN/FN/FG SF 4.7% 10-01-28/A.L. 03-24-15 605,000 $628,734
WA ST TOBACCO WAL 3.028 YRS 5.0% 06-01-26 1,000,000 $1,056,610
WARREN CO OH OTTERBEIN HOMES 13A 3.0% 07-01-15 1,250,000 $1,279,700
WASH UNIV/MO HLTH & ED SER 03B DFRN 02-15-33/MS/BUS 3,550,000 $3,550,000
WASH UNIV/MO HLTH & ED SER 96D DFRN 09-01-30/WF/BUS 5,700,000 $5,700,000
WASH UNIV/MO HLTH & ED SER A DFRN 09-01-30/GS/BUS 4,600,000 $4,600,000
WASH UNIV/MO HLTH & ED SER A DFRN SF 02-15-34/JPM/BUS 1,745,000 $1,745,000
WAYNE CO MI AIRPORT AMT NATL 5.25% 12-01-16 2,000,000 $2,135,100
WAYNE CO MI AIRPORT AMT NATL-FGIC JR LIEN 5.0% 12-01-18 2,660,000 $2,924,377
WAYNE ST UNIV MI 5.0% 11-15-14 2,000,000 $2,059,060
WI GAS INSPECTION FEE 5.0% 07-01-14 1,000,000 $1,012,230
WI H&ED ASCENSION HLTH 13B-2 (MPT) 4.0% 11-15-43/05-30-19 1,000,000 $1,104,830
WI H/E AURORA HLTH 12A 4.0% 07-15-15 600,000 $625,224
WI H/E AURORA HLTH 12A 5.0% 07-15-17 2,000,000 $2,216,660
WI ST TRANS REV 12-2 4.0% 07-01-18 2,000,000 $2,239,720
WI UNIV HOSPS & CLINICS AUTH 13A 4.0% 04-01-16 680,000 $726,315
YALE UNIV CT ST HLTH & ED (MPT) 5.0% 07-01-49/02-12-15 1,000,000 $1,042,690

*Excludes certain securities in initial period of acquisition.


Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses, summary prospectuses and CollegeAmerica Program Description, which can be obtained from a financial professional and should be read carefully before investing. CollegeAmerica is distributed by American Funds Distributors® and sold through unaffiliated intermediaries.