American Funds - Portfolio holdings | American Funds

Portfolio Holdings

American Funds Insurance Series - Global Balanced Fund

As of March 31, 2019 (updated quarterly, upon availability)

Fixed-Income Securities* Shares or Principal Amount Market Value
ACE INA Holdings Inc. 2.875% 2022 10,000 10,089
ACE INA Holdings Inc. 3.35% 2026 10,000 10,193
ACE INA Holdings Inc. 4.35% 2045 20,000 21,831
ARGENT LETRAS DEL TESORO 0.0% 05-31-19 4,500,000 124,475
AT&T Inc. 4.10% 2028 55,000 55,638
AXA SA, junior subordinated 5.453% (undated) 100,000 140,153
AbbVie Inc. 2.50% 2020 180,000 179,493
AbbVie Inc. 2.90% 2022 60,000 59,903
AbbVie Inc. 3.20% 2026 73,000 71,101
AbbVie Inc. 4.50% 2035 15,000 14,738
Abbott Laboratories 3.75% 2026 51,000 53,037
Abu Dhabi (Emirate of) 2.50% 2022 200,000 198,370
Abu Dhabi (Emirate of) 3.125% 2027 200,000 198,977
Abu Dhabi National Energy Co. PJSC (TAQA) 3.625% 2023 200,000 202,065
Aetna Inc. 2.75% 2022 50,000 49,378
Aetna Inc. 2.80% 2023 10,000 9,830
Allergan PLC 3.00% 2020 30,000 29,991
Allergan PLC 3.80% 2025 173,000 175,480
Allergan PLC 4.75% 2045 3,000 3,001
Allianz SE 4.75% (undated) (3-month EUR-EURIBOR + 3.60% on 10/24/2023) 100,000 126,494
Altria Group, Inc. 1.00% 2025 110,000 124,365
Altria Group, Inc. 2.20% 2027 170,000 193,500
Altria Group, Inc. 2.625% 2020 100,000 99,793
Altria Group, Inc. 5.80% 2039 125,000 132,618
Amazon.com, Inc. 2.80% 2024 170,000 170,456
Amazon.com, Inc. 3.15% 2027 50,000 50,462
American Campus Communities, Inc. 3.35% 2020 15,000 15,063
American Campus Communities, Inc. 3.75% 2023 100,000 101,446
American Campus Communities, Inc. 4.125% 2024 90,000 92,093
American Electric Power Co., Inc. 2.15% 2020 215,000 213,093
Amgen Inc. 1.85% 2021 20,000 19,626
Anheuser-Busch InBev NV 4.00% 2028 100,000 101,726
Apple Inc. 2.50% 2022 75,000 74,965
Apple Inc. 3.35% 2027 65,000 66,417
Argentina (Central Bank of) 0% 2019 3,069,980 87,791
AstraZeneca PLC 2.375% 2022 110,000 108,451
AstraZeneca PLC 3.50% 2023 150,000 153,158
Aviva PLC, junior subordinated 6.875% 2058 75,000 124,207
Banco Bilbao Vizcaya Argentaria SA 3.50% 2024 (5 year EURO Mid Swap + 2.55% on 4/11/2019) 100,000 112,278
Banco Nacional de Comercio Exterior SNC 3.80% 2026 (UST Yield Curve Rate T Note Constant Maturity 5 year + 3.00% on 8/11/2021) 200,000 196,002
Banco del Estado de Chile 2.668% 2021 500,000 494,262
Bank of America Corp. 3.419% 2028 (3-month USD-LIBOR + 1.04% on 12/20/2027) 394,000 385,974
Bank of America Corp. 3.55% 2024 (3-month USD-LIBOR + 0.78% on 3/5/2023) 100,000 101,615
Barclays Bank PLC 10.00% 2021 100,000 151,136
Baxalta Inc. 4.00% 2025 18,000 18,491
Bayer US Finance II LLC 3.875% 2023 200,000 201,728
Bayer US Finance II LLC 4.40% 2044 100,000 88,730
Becton, Dickinson and Co. 2.894% 2022 55,000 54,736
Becton, Dickinson and Co. 3.70% 2027 65,000 64,879
Becton, Dickinson and Co. 3.734% 2024 35,000 35,577
Belgium (Kingdom of), Series 77, 1.00% 2026 135,000 161,875
Belgium (Kingdom of), Series 82, 0.50% 2024 325,000 378,271
Belgium (Kingdom of), Series 85, 0.80% 2028 360,000 422,550
Brazil (Federative Republic of) 0% 2021 3,000 651,697
Brazil (Federative Republic of) 0% 2022 2,400 479,053
Brazil (Federative Republic of) 10.00% 2025 818 222,497
British American Tobacco PLC 3.557% 2027 105,000 99,604
British American Tobacco PLC 4.39% 2037 80,000 72,367
Broadcom Ltd. 3.875% 2027 190,000 181,818
CMS Energy Corp. 3.00% 2026 150,000 146,728
CVS Health Corp. 4.30% 2028 25,000 25,378
CVS Health Corp. 5.05% 2048 95,000 95,898
CaixaBank, SA 3.50% 2027 (5 year EURO Mid Swap + 3.35% on 2/15/2022) 100,000 117,371
Capital Group Central Cash Fund 298,763 29,870,309
Cenovus Energy Inc. 4.25% 2027 65,000 64,004
Chile (Banco Central de) 4.00% 2023 415,000,000 617,558
Chile (Banco Central de) 4.50% 2026 240,000,000 364,786
Chile (Republic of) 5.50% 2020 50,000,000 75,470
Cigna Corp. 4.125% 2025 80,000 82,901
Colombia (Republic of) 4.375% 2021 200,000 205,850
Colombia (Republic of), Series B, 6.25% 2025 1,828,900,000 581,676
Comcast Corp. 3.95% 2025 80,000 83,776
Conagra Brands, Inc. 4.30% 2024 210,000 217,757
Core Industrial Trust, Series 2015-CALW, Class A, 3.04% 2034 47,434 47,787
Corporate Office Properties LP 3.60% 2023 65,000 64,368
DaimlerChrysler North America Holding Corp. 2.00% 2021 200,000 195,748
Deutsche Telekom International Finance BV 1.95% 2021 150,000 146,645
Deutsche Telekom International Finance BV 9.25% 2032 45,000 65,471
Duke Energy Carolinas, Inc. 3.05% 2023 280,000 284,241
Duke Energy Carolinas, Inc. 3.70% 2047 50,000 49,174
Duke Energy Corp. 2.65% 2026 225,000 214,631
Duke Energy Corp. 3.75% 2024 110,000 113,552
Duke Energy Progress, LLC 3.70% 2028 75,000 78,378
EMD Finance LLC 2.40% 2020 200,000 199,145
EMD Finance LLC 3.25% 2025 250,000 246,578
Egypt (Arab Republic of) 0% 2019 2,900,000 161,847
El Paso Pipeline Partners Operating Co., LLC 4.70% 2042 75,000 73,290
Enbridge Inc. 3.70% 2027 132,000 131,857
Enbridge Inc. 4.25% 2026 70,000 73,106
Enel Finance International SA 2.75% 2023 200,000 193,809
Enel Finance International SA 3.50% 2028 400,000 376,676
Enel Finance International SA 3.625% 2027 200,000 191,751
Enersis Américas SA 4.00% 2026 110,000 108,906
Essex Portfolio LP 3.375% 2026 40,000 39,599
Essex Portfolio LP 3.50% 2025 120,000 120,472
European Financial Stability Facility 0.95% 2028 300,000 356,798
European Investment Bank 2.25% 2022 225,000 224,602
Exelon Corp. 3.40% 2026 150,000 150,062
Exelon Corp. 3.497% 2022 25,000 25,274
Fannie Mae 3.50% 2049 462,900 469,355
Fannie Mae 3.50% 2049 283,708 287,900
Fannie Mae 4.00% 2049 1,492,609 1,537,216
Fannie Mae 4.00% 2049 3,221,257 3,318,017
FirstEnergy Corp. 3.50% 2028 65,000 63,948
FirstEnergy Corp. 3.90% 2027 250,000 254,092
FirstEnergy Corp. 4.85% 2047 60,000 64,555
France Télécom 9.00% 2031 65,000 94,188
Freddie Mac 2049 473,000 487,374
Freddie Mac 3.50% 2049 299,970 304,579
French Republic O.A.T. 0.75% 2028 450,000 528,545
French Republic O.A.T. 1.00% 2027 1,000,000 1,206,543
French Republic O.A.T. 3.25% 2045 260,000 427,026
General Electric Capital Corp. 3.15% 2022 50,000 49,865
Germany (Federal Republic of) 0.10% 2026 387,488 482,134
Germany (Federal Republic of) 0.50% 2026 200,000 237,488
Germany (Federal Republic of) 2.25% 2021 60,000 72,020
Germany (Federal Republic of) 2.50% 2046 315,000 529,893
Goldman Sachs Group, Inc. 2.905% 2023 (3-month USD-LIBOR + 0.99% on 7/24/2022) 130,000 128,655
Goldman Sachs Group, Inc. 3.50% 2025 210,000 209,546
Goldman Sachs Group, Inc. 3.75% 2026 25,000 25,134
Goldman Sachs Group, Inc. 4.75% 2045 70,000 74,693
Goldman Sachs Group, Inc. 5.75% 2022 70,000 75,127
Government National Mortgage Assn. 4.00% 2049 170,000 175,598
Greece (Hellenic Republic of) 3.375% 2025 500,000 572,775
Greece (Hellenic Republic of) 3.45% 2024 795,000 927,617
Greece (Hellenic Republic of) 3.50% 2023 110,000 129,362
Greece (Hellenic Republic of) 3.75% 2028 200,000 226,926
Greece (Hellenic Republic of) 3.875% 2029 300,000 340,568
Greece (Hellenic Republic of) 3.90% 2033 240,000 263,024
Greece (Hellenic Republic of) 4.00% 2037 250,000 266,654
Greece (Hellenic Republic of) 4.20% 2042 250,000 266,093
Groupe BPCE SA 5.70% 2023 200,000 213,463
HSBC Holdings PLC 3.033% 2023 (3-month USD-LIBOR + 0.923% on 11/12/2022) 200,000 199,123
HSBC Holdings PLC 4.292% 2026 (3-month USD-LIBOR + 1.348% on 9/12/2025) 450,000 464,740
Halliburton Co. 3.80% 2025 35,000 35,828
Humana Inc. 3.15% 2022 100,000 100,504
Hyundai Capital America 2.55% 2020 135,000 134,066
Hyundai Capital America 3.25% 2022 65,000 64,682
Hyundai Capital Services Inc. 3.75% 2023 250,000 253,097
India (Republic of) 6.97% 2026 52,300,000 741,192
India (Republic of) 7.68% 2023 15,900,000 236,429
India (Republic of) 8.83% 2023 10,400,000 161,335
Indonesia (Republic of) 3.75% 2022 410,000 415,936
Indonesia (Republic of) 3.85% 2027 400,000 400,427
Indonesia (Republic of), Series 64, 6.125% 2028 344,000,000 21,928
Indonesia (Republic of), Series 78, 8.25% 2029 2,993,000,000 220,082
Ireland (Republic of) 0% 2022 845,800 958,068
Ireland (Republic of) 0.90% 2028 350,000 410,152
Ireland (Republic of) 1.00% 2026 500,000 594,271
Ireland (Republic of) 1.10% 2029 400,000 472,943
Ireland (Republic of) 2.40% 2030 30,000 40,030
Ireland (Republic of) 3.40% 2024 50,000 65,900
Israel (State of) 1.50% 2029 110,000 129,063
Israel (State of) 2.00% 2027 2,100,000 595,528
Israel (State of) 3.15% 2023 400,000 407,528
Israel (State of) 5.50% 2042 1,000,000 402,153
Italy (Republic of) 0.10% 2023 1,418,390 1,561,731
JPMorgan Chase & Co. 2.55% 2021 76,000 75,809
JPMorgan Chase & Co. 2.70% 2023 150,000 148,651
JPMorgan Chase & Co. 3.25% 2022 28,000 28,421
JPMorgan Chase & Co., Series S, junior subordinated, perpetual, 6.75% (undated) (3-month USD-LIBOR + 3.78% on 2/1/2024) 135,000 148,084
JPMorgan Chase Bank NA (3-month USD-LIBOR + 0.34%) 3.105% 2021 300,000 299,949
Japan, Series 134, 0.10% 2022 95,000,000 867,050
Japan, Series 161, 0.60% 2037 170,000,000 1,622,300
Japan, Series 17, 0.10% 2023 10,450,000 96,815
Japan, Series 18, 0.10% 2024 20,780,000 193,269
Japan, Series 19, 0.10% 2024 30,330,000 282,639
Japan, Series 21, 0.10% 2026 40,466,400 379,631
Japan, Series 22, 0.10% 2027 25,365,250 238,762
Japan, Series 23, 0.10% 2028 152,842,080 1,439,385
Japan, Series 337, 0.30% 2024 162,100,000 1,505,223
Japan, Series 340, 0.40% 2025 20,000,000 187,733
Japan, Series 346, 0.10% 2027 330,450,000 3,053,173
Japan, Series 394, 0.10% 2020 270,300,000 2,449,599
Japan, Series 395, 0.10% 2020 432,100,000 3,916,792
Japan, Series 42, 1.70% 2044 53,000,000 620,801
Japan, Series 53, 0.60% 2046 45,000,000 418,983
Japan, Series 59, 0.70% 2048 40,000,000 380,683
Kazakhstan (Republic of) 1.55% 2023 100,000 115,899
Keurig Dr Pepper Inc. 4.597% 2028 175,000 182,614
Keurig Dr Pepper Inc. 5.085% 2048 100,000 102,716
KfW 2.125% 2022 250,000 247,968
Korea Housing Finance Corp. 2.00% 2021 250,000 244,609
Korea Housing Finance Corp. 2.50% 2020 250,000 247,875
Kraft Heinz Co. 3.50% 2022 100,000 101,169
Kroger Co. 3.50% 2026 140,000 138,630
Kuwait (State of) 2.75% 2022 200,000 200,156
Lima Metro Line Finance Ltd. 5.875% 2034 200,000 206,285
Lithuania (Republic of) 7.375% 2020 100,000 103,913
Lloyds Banking Group PLC 6.50% 2020 210,000 249,556
Malaysia (Federation of), Series 0116, 3.80% 2023 2,340,000 577,534
McDonald's Corp. 3.50% 2020 50,000 50,558
McDonald's Corp. 3.80% 2028 110,000 113,838
Medtronic, Inc. 3.50% 2025 100,000 103,361
Microsoft Corp. 2.40% 2026 297,000 288,478
Microsoft Corp. 3.30% 2027 355,000 365,271
Morgan Stanley 3.125% 2026 110,000 107,329
Morgan Stanley 3.875% 2026 75,000 76,811
Morocco (Kingdom of) 4.25% 2022 200,000 204,410
Myriad International Holdings 5.50% 2025 250,000 268,075
Myriad International Holdings 6.00% 2020 250,000 257,800
NBCUniversal Media, LLC 4.375% 2021 50,000 51,628
NN Group NV 4.50% (undated) (3-month EUR-LIBOR + 4.00% on 1/15/2026) 100,000 119,320
National Highways Authority of India 7.17% 2021 30,000,000 427,866
Netherlands (Kingdom of the) 5.50% 2028 100,000 167,278
NiSource Finance Corp. 2.65% 2022 50,000 49,279
Niagara Mohawk Power Corp. 3.508% 2024 85,000 87,372
Nissan Motor Co., Ltd. 2.15% 2020 120,000 117,987
Nissan Motor Co., Ltd. 2.60% 2022 115,000 112,016
Norway (Kingdom of) 3.75% 2021 1,950,000 237,950
Nova Scotia (Province of) 3.15% 2051 170,000 137,128
Nykredit Realkredit AS, Series 01E, 1.50% 2037 4,725,402 735,393
Nykredit Realkredit AS, Series 01E, 1.50% 2040 13,173,034 2,033,731
Oracle Corp. 2.65% 2026 216,000 209,217
PNC Financial Services Group, Inc. 2.854% 2022 100,000 99,936
Pacific Gas and Electric Co. 2.95% 2026 25,000 22,000
Pacific Gas and Electric Co. 4.65% 2028 114,000 105,450
Pacific Gas and Electric Co. 6.35% 2038 62,000 62,620
Pernod Ricard SA 4.45% 2022 150,000 155,925
Peru (Republic of) 5.625% 2050 20,000 25,710
Peru (Republic of) 6.15% 2032 1,675,000 531,928
Petroleos Mexicanos 6.35% 2048 153,000 135,657
Petróleos Mexicanos 7.19% 2024 5,348 23,213
Petróleos Mexicanos 7.47% 2026 52,700 219,241
Petróleos Mexicanos 8.00% 2019 250,000 251,375
Philip Morris International Inc. 2.00% 2020 55,000 54,641
Philip Morris International Inc. 2.625% 2022 15,000 14,991
Philip Morris International Inc. 2.90% 2021 100,000 100,598
Poland (Republic of), Series 0922, 5.75% 2022 870,000 255,695
Poland (Republic of), Series 1020, 5.25% 2020 1,150,000 316,419
Poland (Republic of), Series 1021, 5.75% 2021 2,510,000 719,940
Poland (Republic of), Series 1023, 4.00% 2023 400,000 112,810
Portuguese Republic 5.125% 2024 250,000 272,909
President & Fellows of Harvard College 3.619% 2037 150,000 153,638
Qatar (State of) 4.50% 2028 900,000 963,490
Quebec (Province of) 2.375% 2022 114,000 113,888
Rabobank Nederland 3.875% 2023 100,000 127,884
Red de Carreteras de Occidente 9.00% 2028 2,000,000 99,432
Republic of Latvia 1.875% 2049 195,000 222,847
Reynolds American Inc. 4.00% 2022 15,000 15,332
Reynolds American Inc. 4.45% 2025 105,000 107,978
Roche Holdings, Inc. 3.35% 2024 200,000 205,452
Romania 2.875% 2029 390,000 443,419
Romania 3.375% 2038 250,000 273,006
Romania 3.50% 2034 65,000 72,865
Romania 3.875% 2035 170,000 198,544
Romania 4.125% 2039 125,000 145,974
Romania 4.625% 2049 100,000 116,453
Romania 5.125% 2048 65,000 64,981
Russian Federation 2.875% 2025 100,000 115,884
Russian Federation 7.00% 2023 8,000,000 118,182
Saudi Arabia (Kingdom of) 2.894% 2022 200,000 199,081
Saudi Arabia (Kingdom of) 3.625% 2028 200,000 198,633
Saudi Arabia (Kingdom of) 4.50% 2030 240,000 252,534
Saudi Arabia (Kingdom of) 5.00% 2049 200,000 207,550
Scentre Group 3.75% 2027 20,000 20,081
Schlumberger BV 4.00% 2025 50,000 51,629
Shell International Finance BV 3.50% 2023 330,000 341,508
Shire PLC 2.40% 2021 153,000 151,324
Shire PLC 2.875% 2023 69,000 68,223
Shire PLC 3.20% 2026 25,000 24,198
Skandinaviska Enskilda Banken AB 2.80% 2022 250,000 249,357
South Africa (Republic of), Series 2044, 8.75% 2044 1,300,000 81,627
South Africa (Republic of), Series R-2023, 7.75% 2023 1,950,000 135,221
South Africa (Republic of), Series R-214, 6.50% 2041 10,150,000 498,434
South Korea (Republic of), Series 2106, 4.25% 2021 262,000,000 243,322
South Korea (Republic of), Series 2209, 2.00% 2022 560,000,000 497,365
Spain (Kingdom of) 1.40% 2028 270,000 315,540
State Grid Overseas Investment Ltd. 3.50% 2027 450,000 451,733
Statoil ASA 3.15% 2022 160,000 163,150
Statoil ASA 3.70% 2024 50,000 52,370
Sweden (Kingdom of) 1.125% 2019 200,000 198,504
Takeda Pharmaceutical Co., Ltd. 2.25% 2026 200,000 241,681
Takeda Pharmaceutical Co., Ltd. 4.40% 2023 200,000 210,387
Thailand (Kingdom of) 1.875% 2022 14,100,000 444,365
Thailand (Kingdom of) 2.125% 2026 28,300,000 879,478
Thailand (Kingdom of) 3.85% 2025 7,300,000 252,598
Thomson Reuters Corp. 4.30% 2023 75,000 78,101
Total Capital International 2.875% 2022 150,000 151,356
Toyota Motor Credit Corp. 2.25% 2023 85,000 83,406
U.S. Treasury 1.00% 2019 1,000,000 991,210
U.S. Treasury 1.125% 2021 1,025,000 999,068
U.S. Treasury 1.375% 2020 900,000 889,686
U.S. Treasury 1.375% 2021 550,000 539,737
U.S. Treasury 1.375% 2023 300,000 289,665
U.S. Treasury 1.50% 2020 350,000 345,919
U.S. Treasury 1.625% 2022 2,850,000 2,794,226
U.S. Treasury 1.625% 2026 535,000 511,562
U.S. Treasury 1.625% 2026 440,000 419,993
U.S. Treasury 1.75% 2020 564,000 558,631
U.S. Treasury 1.75% 2023 100,000 98,121
U.S. Treasury 1.875% 2022 700,000 693,287
U.S. Treasury 1.875% 2022 600,000 593,316
U.S. Treasury 2.00% 2021 108,000 107,391
U.S. Treasury 2.00% 2022 75,000 74,565
U.S. Treasury 2.00% 2022 455,000 451,456
U.S. Treasury 2.125% 2020 200,000 199,400
U.S. Treasury 2.125% 2024 2,025,000 2,011,777
U.S. Treasury 2.125% 2025 200,000 198,024
U.S. Treasury 2.25% 2024 200,000 199,736
U.S. Treasury 2.25% 2027 700,000 695,282
U.S. Treasury 2.25% 2027 2,800,000 2,775,864
U.S. Treasury 2.25% 2027 1,000,000 990,350
U.S. Treasury 2.375% 2027 1,500,000 1,502,805
U.S. Treasury 2.50% 2020 420,000 420,634
U.S. Treasury 2.50% 2020 120,000 120,391
U.S. Treasury 2.50% 2021 1,945,000 1,952,235
U.S. Treasury 2.50% 2022 250,000 251,950
U.S. Treasury 2.50% 2045 315,000 297,858
U.S. Treasury 2.625% 2020 100,000 100,368
U.S. Treasury 2.625% 2021 1,020,000 1,028,537
U.S. Treasury 2.625% 2023 800,000 811,960
U.S. Treasury 2.625% 2023 105,000 106,840
U.S. Treasury 2.625% 2029 282,000 287,507
U.S. Treasury 2.75% 2023 420,000 428,665
U.S. Treasury 2.75% 2023 101,000 103,218
U.S. Treasury 2.875% 11-15-21 2,250,000 2,286,360
U.S. Treasury 2.875% 2020 927,000 934,768
U.S. Treasury 2.875% 2023 2,250,000 2,312,595
U.S. Treasury 2.875% 2028 2,170,000 2,256,258
U.S. Treasury 2.875% 2028 3,487,000 3,626,794
U.S. Treasury 2.875% 2046 500,000 507,180
U.S. Treasury 3.00% 2025 900,000 937,953
U.S. Treasury 3.00% 2044 355,000 368,944
U.S. Treasury 3.00% 2045 100,000 103,978
U.S. Treasury 3.00% 2048 1,785,600 1,852,114
U.S. Treasury 3.125% 2028 3,003,000 3,188,826
U.S. Treasury Inflation-Protected Security 0.125% 2022 218,389 216,242
U.S. Treasury Inflation-Protected Security 0.125% 2024 795,060 785,705
U.S. Treasury Inflation-Protected Security 0.25% 2025 159,410 157,875
U.S. Treasury Inflation-Protected Security 0.375% 2025 238,822 238,860
U.S. Treasury Inflation-Protected Security 0.375% 2027 364,711 361,775
U.S. Treasury Inflation-Protected Security 0.375% 2027 221,235 219,790
U.S. Treasury Inflation-Protected Security 0.50% 2028 1,020,460 1,019,199
U.S. Treasury Inflation-Protected Security 0.625% 2024 539,390 544,958
U.S. Treasury Inflation-Protected Security 1.375% 2044 513,019 568,190
U.S. Treasury Inflation-Protected Security 2.375% 2025 66,769 74,218
US Bancorp 2.85% 2023 300,000 300,998
UniCredit SPA 5.75% 2025 100,000 117,990
Union Pacific Corp. 2.95% 2023 100,000 100,342
United Kingdom 1.25% 2027 100,000 133,826
United Kingdom 1.75% 2022 680,000 918,337
United Kingdom 2.75% 2024 212,900 306,909
United Kingdom 3.25% 2044 250,000 437,760
United Kingdom 3.75% 2020 75,000 101,992
United Kingdom 4.25% 2027 50,000 83,391
United Kingdom 4.25% 2040 50,000 97,934
United Mexican States 4.15% 2027 400,000 407,280
United Mexican States 4.60% 2046 200,000 193,300
United Mexican States, Series M, 5.75% 2026 244,500 1,113,928
United Mexican States, Series M, 6.50% 2021 90,000 451,942
United Mexican States, Series M, 6.50% 2022 115,000 571,153
United Mexican States, Series M, 7.75% 2042 32,000 153,272
United Mexican States, Series M, 8.00% 2020 20,000 103,425
United Mexican States, Series M, 8.00% 2023 140,000 726,649
United Mexican States, Series M20, 10.00% 2024 93,000 526,452
United Technologies Corp. 3.10% 2022 106,000 106,767
United Technologies Corp. 4.125% 2028 170,000 177,332
Uruguay (Oriental Republic of) 8.50% 2028 6,963,000 180,882
Uruguay (Oriental Republic of) 9.875% 2022 1,050,000 31,292
VEB Finance Ltd. 6.902% 2020 100,000 102,760
Verizon Communications Inc. 4.272% 2036 248,000 251,573
Verizon Communications Inc. 4.329% 2028 120,000 127,341
Volkswagen Group of America Finance, LLC 4.25% 2023 380,000 391,920
Volkswagen Group of America Finance, LLC 4.625% 2025 200,000 207,252
WEA Finance LLC 2.70% 2019 200,000 199,888
WEA Finance LLC 3.75% 2024 200,000 204,450
Wells Fargo & Co. 3.584% 2028 (3-month USD-LIBOR + 1.31% on 5/15/2027) 100,000 100,596
Equity Securities* Shares or Principal Amount Market Value Percent of Net Assets
AIA Group Ltd. 250,000 2,488,869 0.62
ASML Holding NV 30,800 5,776,743 1.45
Akzo Nobel NV 18,777 1,663,774 0.42
Alibaba Group Holding Ltd. (ADR) 13,700 2,499,565 0.63
Alphabet Inc., Class C 2,063 2,420,539 0.61
Altria Group, Inc. 87,000 4,996,410 1.25
Amadeus IT Group SA, Class A, non-registered shares 25,700 2,058,389 0.52
Amazon.com, Inc. 1,375 2,448,531 0.61
Amphenol Corp., Class A 24,000 2,266,560 0.57
Anheuser-Busch InBev SA/NV 15,000 1,257,930 0.31
AstraZeneca PLC 20,400 1,607,484 0.40
AstraZeneca PLC 57,950 4,630,513 1.16
B3 SA - Brasil, Bolsa, Balcao 376,000 3,084,557 0.77
BAE Systems PLC 170,000 1,068,113 0.27
Bank Central Asia Tbk PT 1,080,000 2,104,635 0.53
Barrick Gold Corp. 153,200 2,100,209 0.53
Berkshire Hathaway Inc., Class A 14 4,217,010 1.06
Biogen Inc. 2,800 661,864 0.17
BlackRock, Inc. 1,640 700,887 0.18
Boeing Co. 15,250 5,816,655 1.46
Boral Ltd. 185,000 602,939 0.15
British American Tobacco PLC 129,300 5,378,913 1.35
Broadcom Inc. 17,620 5,298,510 1.33
Bunzl PLC 60,600 1,998,469 0.50
CNOOC Ltd. 254,000 475,646 0.12
Canadian Natural Resources, Ltd. 13,805 379,022 0.09
Carl Zeiss Meditec AG, non-registered shares 19,500 1,628,529 0.41
Chevron Corp. 10,000 1,231,800 0.31
Cigna Corp. 10,310 1,658,054 0.41
Coca-Cola Co. 32,000 1,499,520 0.38
Coca-Cola European Partners PLC 48,000 2,483,520 0.62
Coca-Cola FEMSA, SAB de CV, Series L 150,000 991,564 0.25
Coloplast A/S, Class B 16,000 1,755,447 0.44
ConocoPhillips 29,000 1,935,460 0.48
Credicorp Ltd. 10,050 2,411,498 0.60
Croda International PLC 13,100 859,588 0.22
Crown Castle International Corp. REIT 8,985 1,150,080 0.29
Cummins Inc. 8,000 1,262,960 0.32
DowDuPont Inc. 42,298 2,254,906 0.56
ENN Energy Holdings Ltd. 232,000 2,243,174 0.56
Edenred SA 65,000 2,958,111 0.74
Enbridge Inc. 16,157 585,175 0.15
Enbridge Inc. 62,117 2,249,757 0.56
Equinix, Inc. REIT 4,240 1,921,398 0.48
FinecoBank SPA 125,000 1,644,065 0.41
Fisher & Paykel Healthcare Corp. Ltd. 204,000 2,181,107 0.55
Gaming and Leisure Properties, Inc. REIT 59,720 2,303,400 0.58
General Motors Co. 61,100 2,266,810 0.57
Gilead Sciences, Inc. 17,500 1,137,675 0.28
GlaxoSmithKline PLC 38,900 809,024 0.20
HDFC Bank Ltd. (ADR) 21,605 2,504,236 0.63
HSBC Holdings PLC 361,633 2,935,798 0.73
Home Depot, Inc. 12,700 2,437,003 0.61
Humana Inc. 16,330 4,343,780 1.09
Infosys Ltd. 63,350 680,229 0.17
Intel Corp. 44,000 2,362,800 0.59
International Consolidated Airlines Group, SA (CDI) 120,000 800,225 0.20
JPMorgan Chase & Co. 53,135 5,378,856 1.35
Keyence Corp. 4,400 2,738,139 0.69
Koninklijke DSM NV 12,000 1,307,871 0.33
LUKOIL Oil Co. PJSC (ADR) 39,800 3,566,080 0.89
LVMH Moët Hennessy-Louis Vuitton SE 6,100 2,243,713 0.56
Linde PLC 13,706 2,398,454 0.60
Link Real Estate Investment Trust REIT 211,697 2,475,657 0.62
Lockheed Martin Corp. 3,080 924,493 0.23
LyondellBasell Industries NV 12,000 1,008,960 0.25
MTU Aero Engines AG 9,000 2,037,322 0.51
Mastercard Inc., Class A 9,200 2,166,140 0.54
Medtronic PLC 15,000 1,366,200 0.34
Merck & Co., Inc. 77,275 6,426,962 1.61
Mettler-Toledo International Inc. 3,500 2,530,500 0.63
Microsoft Corp. 48,500 5,720,090 1.43
NIBE Industrier AB, Class B 106,000 1,357,308 0.34
Nestlé SA 47,800 4,555,581 1.14
Nidec Corp. 12,800 1,619,778 0.41
Nintendo Co., Ltd. 9,500 2,705,224 0.68
Nippon Prologis REIT, Inc. 391 831,885 0.21
Nokian Renkaat Oyj 33,634 1,125,832 0.28
Northrop Grumman Corp. 3,450 930,120 0.23
Novartis AG 32,500 3,126,136 0.78
Ocado Group PLC 259,500 4,632,095 1.16
PagSeguro Digital Ltd., Class A 185,528 5,538,011 1.39
Philip Morris International Inc. 50,800 4,490,212 1.12
Procter & Gamble Co. 11,000 1,144,550 0.29
Publicis Groupe SA 6,785 363,277 0.09
Rio Tinto PLC 18,000 1,045,841 0.26
Royal Dutch Shell PLC, Class B 40,000 1,264,939 0.32
SK Telecom Co., Ltd. 2,750 609,308 0.15
SMC Corp. 1,700 637,021 0.16
Samsung Electronics Co., Ltd. 27,000 1,062,065 0.27
Sberbank of Russia PJSC (ADR) 123,000 1,630,980 0.41
Spirax-Sarco Engineering PLC 24,000 2,247,508 0.56
TOTAL SA 45,200 2,510,818 0.63
Taiwan Semiconductor Manufacturing Co., Ltd. 745,000 5,934,281 1.48
Temenos AG 25,000 3,685,664 0.92
Teva Pharmaceutical Industries Ltd. (ADR) 50,000 784,000 0.20
TravelSky Technology Ltd., Class H 770,000 2,035,363 0.51
United Parcel Service, Inc., Class B 9,300 1,039,182 0.26
UnitedHealth Group Inc. 9,400 2,324,244 0.58
Visa Inc., Class A 14,600 2,280,374 0.57
Walgreens Boots Alliance, Inc. 25,000 1,581,750 0.40
Watsco, Inc. 13,000 1,861,730 0.47
Wells Fargo & Co. 13,825 668,024 0.17
WestRock Co. 24,570 942,260 0.24
Wynn Resorts, Ltd. 13,000 1,551,160 0.39
Ørsted AS 33,800 2,561,637 0.64

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.