N-CSRS 1 bfa_ncsrs.htm N-CSRS

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-CSR

Certified Shareholder Report of

Registered Management Investment Companies

 

Investment Company Act File Number: 811-02444

 

The Bond Fund of America

(Exact Name of Registrant as Specified in Charter)

 

333 South Hope Street, 55th Floor

Los Angeles, California 90071

(Address of Principal Executive Offices)

 

Registrant's telephone number, including area code: (949) 975-5000

 

Date of fiscal year end: December 31

 

Date of reporting period: June 30, 2023

 

Becky L. Park

The Bond Fund of America

6455 Irvine Center Drive

Irvine, California 92618

(Name and Address of Agent for Service)

 
 

 

ITEM 1 – Reports to Stockholders

 

The Bond Fund of America®

 

Semi-annual report
for the six months ended
June 30, 2023

 

 

Invest with a stable,
long-term approach

 

The Bond Fund of America seeks as high a level of current income as is consistent with the preservation of capital.

 

This fund is one of more than 40 offered by Capital Group, home of American Funds, one of the nation’s largest mutual fund families. For over 90 years, Capital Group has invested with a long-term focus based on thorough research and attention to risk.

 

Fund results shown in this report, unless otherwise indicated, are for Class F-2 shares. Class A share results are shown at net asset value unless otherwise indicated. If a sales charge (maximum 3.75%) had been deducted, the results would have been lower. Results are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Share prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, refer to capitalgroup.com.

 

Here are the average annual total returns on a $1,000 investment with all distributions reinvested for periods ended June 30, 2023 (the most recent calendar quarter-end):

 

   1 year  5 years  10 years
Class F-2 shares   –1.13%   1.49%   1.94%
Class A shares (reflecting 3.75% maximum sales charge)   –5.08    0.47    1.30 

 

For other share class results, refer to capitalgroup.com and americanfundsretirement.com.

 

The total annual fund operating expense ratios are 0.33% for Class F-2 and 0.59% for Class A shares as of the prospectus dated March 1, 2023. The expense ratios are restated to reflect current fees.

 

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Refer to capitalgroup.com for more information.

 

The fund’s 30-day yield as of June 30, 2023, was 4.80% for Class F-2 shares and 4.36% for Class A shares calculated in accordance with the U.S. Securities and Exchange Commission formula. The fund’s distribution rate as of that date was 3.41% for Class F-2 shares and 3.02% for Class A shares. The Class A share results for both reflect the 3.75% maximum sales charge. The SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities while the distribution rate reflects the fund’s past dividends paid to shareholders. Accordingly, the fund’s SEC yield and distribution rate may differ.

 

The return of principal for bond funds and for funds with significant underlying bond holdings is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings. High-yield bonds are subject to greater fluctuations in value and risk of loss of income and principal than investment-grade bonds. Investing in bonds issued outside the U.S. may be subject to additional risks. They include currency fluctuations, political and social instability, differing securities regulations and accounting standards, higher transaction costs, possible changes in taxation, illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries. Refer to the fund prospectus and the Risk Factors section of this report for more information on these and other risks associated with investing in the fund.

 

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

 

Fellow investors:

 

Results for The Bond Fund of America for the periods ended June 30, 2023, are shown in the table below, as well as results of the fund’s benchmark peer group.

 

For additional information about the fund, its investment results, holdings and portfolio managers, refer to capitalgroup.com/individual/investments/fund/ABNFX. You can also access information about Capital Group’s American Funds and read our insights about the markets, retirement, saving for college, investing fundamentals and more at capitalgroup.com.

 

Contents

 

1 Results at a glance
   
2 Investment portfolio
   
71 Financial statements
   
75 Notes to financial statements
   
89 Financial highlights

 

Results at a glance

 

For periods ended June 30, 2023, with all distributions reinvested

 

   Cumulative total returns  Average annual total returns
   6 months  1 year  5 years  10 years  Lifetime
(since class A
inception on
5/28/74)
                
The Bond Fund of America (Class F-2 shares)1   1.44%   –1.13%   1.49%   1.94%   7.02%
The Bond Fund of America (Class A shares)   1.30    –1.39    1.24    1.69    6.78 
Bloomberg U.S. Aggregate Index2   2.09    –0.94    0.77    1.52    6.71 
Lipper Core Bond Funds Average3   2.21    –0.73    0.74    1.47    6.57 

 

Past results are not predictive of results in future periods.

 

1 Class F-2 shares were first offered on August 1, 2008. Class F-2 share results prior to the date of first sale are hypothetical based on the results of the original share class of the fund without a sales charge, adjusted for typical estimated expenses. Refer to capitalgroup.com for more information on specific expense adjustments and the actual dates of first sale.
2 Bloomberg Index Services Limited. The Bloomberg U.S. Aggregate Index began on January 1, 1976. From May 28, 1974, through December 31, 1975, the Barclays U.S. Government/Credit Index (now called “the Bloomberg U.S. Government/Credit Index”) was used. The indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index. Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.
3 Source: Refinitiv Lipper. Results for the Lipper averages do not reflect sales charges. Lipper averages reflect the current composition of all eligible mutual funds (all share classes) within a given category. To review the number of funds included in the Lipper category for each fund’s lifetime, please view the Quarterly Statistical Update, available on our website.

 

The Bond Fund of America 1
 
Investment portfolio June 30, 2023 unaudited
   
Portfolio by type of security Percent of net assets

 

 

Portfolio quality summary*  Percent of
net assets
U.S. Treasury and agency   26.91%
AAA/Aaa   34.71 
AA/Aa   4.99 
A/A   10.93 
BBB/Baa   15.33 
Below investment grade   3.59 
Unrated   .05 
Short-term securities & other assets less liabilities   3.49 

 

* Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard & Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated” category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies.
These securities are guaranteed by the full faith and credit of the U.S. government.

 

Bonds, notes & other debt instruments 96.45%  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans 31.57%        
Financials 10.10%          
AerCap Ireland Capital DAC 1.15% 10/29/2023  USD18,000   $17,714 
AerCap Ireland Capital DAC 1.65% 10/29/2024   50,868    47,825 
AerCap Ireland Capital DAC 6.50% 7/15/2025   4,854    4,881 
AerCap Ireland Capital DAC 1.75% 1/30/2026   7,812    7,018 
AerCap Ireland Capital DAC 2.45% 10/29/2026   60,098    53,723 
AerCap Ireland Capital DAC 5.75% 6/6/2028   29,682    29,470 
AerCap Ireland Capital DAC 3.00% 10/29/2028   48,387    41,876 
AerCap Ireland Capital DAC 3.30% 1/30/2032   53,178    43,530 
AerCap Ireland Capital DAC 3.40% 10/29/2033   26,051    20,951 
AerCap Ireland Capital DAC 3.85% 10/29/2041   8,351    6,351 
AIA Group, Ltd. 0.88% 9/9/2033 (5-year EUR Mid-Swap + 1.10% on 9/9/2028)1  EUR9,525    8,246 
Ally Financial, Inc. 5.125% 9/30/2024  USD3,863    3,792 
Ally Financial, Inc. 5.80% 5/1/2025   6,400    6,295 
Ally Financial, Inc. 8.00% 11/1/2031   22,786    23,551 
American Express Co. 5.85% 11/5/2027   1,700    1,742 
American Express Co. 4.42% 8/3/2033 (USD-SOFR + 1.76% on 8/3/2032)1   21,950    20,723 
American Express Co. 5.043% 5/1/2034 (USD-SOFR + 1.835% on 5/1/2033)1   55,975    54,780 
American International Group, Inc. 2.50% 6/30/2025   7,000    6,596 
American International Group, Inc. 3.90% 4/1/2026   1,313    1,263 
American International Group, Inc. 5.125% 3/27/2033   20,794    20,322 
American International Group, Inc. 4.375% 6/30/2050   2,730    2,309 
Aon Corp. 2.85% 5/28/2027   1,000    915 
Aon Corp. 2.60% 12/2/2031   10,750    8,866 
Aon Corp. 5.00% 9/12/2032   6,000    5,927 
Aon Corp. 5.35% 2/28/2033   11,432    11,525 
Aon Corp. 3.90% 2/28/2052   1,000    786 

 

2 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Financials (continued)          
Arthur J. Gallagher & Co. 3.50% 5/20/2051  USD4,395   $3,150 
Australia and New Zealand Banking Group, Ltd. 4.829% 2/3/20252   955    945 
Australia and New Zealand Banking Group, Ltd. 6.742% 12/8/20322   1,518    1,571 
Banco de Credito del Peru SA 3.25% 9/30/2031 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.45% on 9/30/2026)1,2   6,910    6,090 
Banco Santander México, SA, Institución de Banca Múltiple, Grupo Financiero Santander México 5.375% 4/17/20252   7,500    7,425 
Banco Santander, SA 2.746% 5/28/2025   8,200    7,703 
Banco Santander, SA 5.147% 8/18/2025   18,400    18,081 
Banco Santander, SA 5.294% 8/18/2027   9,800    9,618 
Banco Santander, SA 1.722% 9/14/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.90% on 9/14/2026)1   7,800    6,777 
Bangkok Bank Public Co., Ltd. 3.733% 9/25/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.90% on 9/25/2029)1   19,965    16,948 
Bank of America Corp. 5.08% 1/20/2027 (USD-SOFR + 1.29% on 1/20/2026)1   47,781    47,064 
Bank of America Corp. 1.658% 3/11/2027 (USD-SOFR + 0.91% on 3/11/2026)1   30,000    27,011 
Bank of America Corp. 1.734% 7/22/2027 (USD-SOFR + 0.96% on 7/22/2026)1   19,965    17,835 
Bank of America Corp. 2.551% 2/4/2028 (USD-SOFR + 1.05% on 2/4/2027)1   30,000    27,099 
Bank of America Corp. 4.376% 4/27/2028 (USD-SOFR + 1.58% on 4/27/2027)1   17,314    16,635 
Bank of America Corp. 4.948% 7/22/2028 (USD-SOFR + 2.04% on 7/22/2027)1   85,221    83,765 
Bank of America Corp. 6.204% 11/10/2028 (USD-SOFR + 1.99% on 11/10/2027)1   33,273    34,227 
Bank of America Corp. 3.419% 12/20/2028 (3-month USD CME Term SOFR + 1.302% on 12/20/2027)1   38,883    35,691 
Bank of America Corp. 5.202% 4/25/2029 (USD-SOFR + 1.63% on 4/25/2028)1   54,681    54,118 
Bank of America Corp. 2.087% 6/14/2029 (USD-SOFR + 1.06% on 6/14/2028)1   53,866    45,992 
Bank of America Corp. 1.898% 7/23/2031 (USD-SOFR + 1.53% on 7/23/2030)1   40,370    32,166 
Bank of America Corp. 2.651% 3/11/2032 (USD-SOFR + 1.22% on 3/11/2031)1   5,706    4,728 
Bank of America Corp. 2.687% 4/22/2032 (USD-SOFR + 1.32% on 4/22/2031)1   16,219    13,448 
Bank of America Corp. 2.299% 7/21/2032 (USD-SOFR + 1.22% on 7/21/2031)1   71,753    57,411 
Bank of America Corp. 2.572% 10/20/2032 (USD-SOFR + 1.21% on 10/20/2031)1   2,416    1,969 
Bank of America Corp. 2.972% 2/4/2033 (USD-SOFR + 1.33% on 2/4/2032)1   809    675 
Bank of America Corp. 4.571% 4/27/2033 (USD-SOFR + 1.83% on 4/27/2032)1   47,000    44,214 
Bank of America Corp. 5.015% 7/22/2033 (USD-SOFR + 2.16% on 7/22/2032)1   22,131    21,662 
Bank of America Corp. 5.288% 4/25/2034 (USD-SOFR + 1.91% on 4/25/2033)1   47,931    47,507 
Bank of America Corp. 2.676% 6/19/2041 (USD-SOFR + 1.93% on 6/19/2040)1   530    372 
Bank of East Asia, Ltd. 4.875% 4/22/2032 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.30% on 4/22/2027)1   7,000    6,316 
Bank of Ireland Group PLC 6.253% 9/16/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.65% on 9/16/2025)1,2   32,600    32,397 
Bank of Ireland Group PLC 2.029% 9/30/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.10% on 9/30/2026)1,2   9,200    7,968 
Bank of Montreal 5.30% 6/5/2026   10,000    9,978 
Bank of Montreal 5.203% 2/1/2028   4,000    4,001 
Bank of New York Mellon Corp. 4.947% 4/26/2027 (USD-SOFR + 1.026% on 4/26/2026)1   15,000    14,822 
Bank of New York Mellon Corp. 5.802% 10/25/2028 (USD-SOFR + 1.802% on 10/25/2027)1   10,000    10,200 
Bank of New York Mellon Corp. 4.534% 2/1/2029 (USD-SOFR + 1.169% on 2/1/2028)1   18,000    17,533 
Bank of New York Mellon Corp. 4.705% 2/1/2034 (USD-SOFR + 1.512% on 2/1/2033)1   22,105    21,248 
Barclays PLC 5.304% 8/9/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.30% on 8/9/2025)1   725    708 
Barclays PLC 5.829% 5/9/2027 (USD-SOFR + 2.21% on 5/9/2026)1   18,000    17,766 
Barclays PLC 5.501% 8/9/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.65% on 8/5/2027)1   29,640    28,929 
Barclays PLC 6.224% 5/9/2034 (USD-SOFR + 2.98% on 5/9/2033)1   25,425    25,341 
BBVA Bancomer, SA 8.45% 6/29/2038 (5-year UST Yield Curve Rate T Note Constant Maturity + 4.661% on 6/29/2033)1,2   14,100    14,127 
Berkshire Hathaway Finance Corp. 2.875% 3/15/2032   2,032    1,790 
Berkshire Hathaway Finance Corp. 4.20% 8/15/2048   14,738    13,287 
Berkshire Hathaway Finance Corp. 4.25% 1/15/2049   1,000    912 
Berkshire Hathaway Finance Corp. 3.85% 3/15/2052   2,253    1,864 
BlackRock, Inc. 2.10% 2/25/2032   9,025    7,287 
BlackRock, Inc. 4.75% 5/25/2033   15,150    14,899 
Blackstone Holdings Finance Co., LLC 5.90% 11/3/20272   12,375    12,535 
Blackstone Holdings Finance Co., LLC 6.20% 4/22/20332   3,520    3,599 
Block, Inc. 2.75% 6/1/2026   8,000    7,292 
Block, Inc. 3.50% 6/1/2031   5,025    4,168 

 

The Bond Fund of America 3
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Financials (continued)          
BNP Paribas SA 3.375% 1/9/20252  USD11,000   $10,570 
BNP Paribas SA 1.323% 1/13/2027 (USD-SOFR + 1.004% on 1/13/2026)1,2   9,000    7,987 
BNP Paribas SA 1.675% 6/30/2027 (USD-SOFR + 0.912% on 6/30/2026)1,2   7,417    6,543 
BNP Paribas SA 2.591% 1/20/2028 (USD-SOFR + 1.228% on 1/20/2027)1,2   77,065    68,947 
BNP Paribas SA 2.159% 9/15/2029 (USD-SOFR + 1.218% on 9/15/2028)1,2   8,319    6,936 
BNP Paribas SA 2.871% 4/19/2032 (USD-SOFR + 1.387% on 4/19/2031)1,2   63,214    51,827 
Bocom Leasing Management Hong Kong Co., Ltd. 4.375% 1/22/2024   2,500    2,479 
BPCE 5.70% 10/22/20232   27,768    27,650 
BPCE 4.625% 7/11/20242   20,600    20,137 
BPCE 5.15% 7/21/20242   28,454    27,948 
BPCE 1.625% 1/14/20252   18,000    16,811 
BPCE 1.652% 10/6/2026 (USD-SOFR + 1.52% on 10/6/2025)1,2   38,255    34,328 
BPCE 5.975% 1/18/2027 (USD-SOFR + 2.10% on 1/18/2026)1,2   19,000    18,830 
BPCE 2.045% 10/19/2027 (USD-SOFR + 1.087% on 10/19/2026)1,2   10,656    9,301 
BPCE 2.277% 1/20/2032 (USD-SOFR + 1.312% on 1/20/2031)1,2   36,234    28,010 
BPCE 5.748% 7/19/2033 (USD-SOFR + 2.865% on 7/19/2032)1,2   27,495    26,871 
CaixaBank, SA 6.208% 1/18/2029 (USD-SOFR + 2.70% on 1/18/2028)1,2   25,500    25,462 
Canadian Imperial Bank of Commerce 5.144% 4/28/2025   10,000    9,920 
Canadian Imperial Bank of Commerce 3.60% 4/7/2032   197    177 
Capital One Financial Corp. 1.343% 12/6/2024 (USD-SOFR + 0.69% on 12/6/2023)1   26,900    26,202 
Capital One Financial Corp. 4.985% 7/24/2026 (USD-SOFR + 2.16% on 7/24/2025)1   16,000    15,514 
Capital One Financial Corp. 4.927% 5/10/2028 (USD-SOFR + 2.057% on 5/10/2027)1   16,300    15,478 
Capital One Financial Corp. 5.468% 2/1/2029 (USD-SOFR + 2.08% on 2/1/2028)1   12,140    11,638 
Capital One Financial Corp. 6.312% 6/8/2029 (USD-SOFR + 2.64% on 6/8/2028)1   4,850    4,821 
Capital One Financial Corp. 6.377% 6/8/2034 (USD-SOFR + 2.86% on 6/8/2033)1   1,550    1,540 
Charles Schwab Corp. 5.643% 5/19/2029 (USD-SOFR + 2.21% on 5/19/2028)1   24,850    24,851 
Charles Schwab Corp. 5.853% 5/19/2034 (USD-SOFR + 2.50% on 5/19/2033)1   17,388    17,659 
China Merchants Bank Co., Ltd. (USD-SOFR + 0.65%) 1.082% 6/13/20263   9,000    9,010 
China Ping An Insurance Overseas (Holdings), Ltd. 2.85% 8/12/2031   7,247    5,632 
Chubb INA Holdings, Inc. 3.35% 5/3/2026   100    96 
Chubb INA Holdings, Inc. 1.375% 9/15/2030   3,750    2,985 
Chubb INA Holdings, Inc. 4.35% 11/3/2045   100    91 
Chubb INA Holdings, Inc. 2.85% 12/15/2051   1,588    1,108 
Chubb INA Holdings, Inc. 3.05% 12/15/2061   3,758    2,534 
Citigroup, Inc. 2.014% 1/25/2026 (USD-SOFR + 0.694% on 1/25/2025)1   12,852    12,080 
Citigroup, Inc. 4.45% 9/29/2027   400    382 
Citigroup, Inc. 3.07% 2/24/2028 (USD-SOFR + 1.28% on 2/24/2027)1   76,579    70,514 
Citigroup, Inc. 2.572% 6/3/2031 (USD-SOFR + 2.107% on 6/3/2030)1   21,769    18,172 
Citigroup, Inc. 2.561% 5/1/2032 (USD-SOFR + 1.167% on 5/1/2031)1   6,406    5,233 
Citigroup, Inc. 2.52% 11/3/2032 (USD-SOFR + 1.177% on 11/3/2031)1   13,207    10,648 
Citigroup, Inc. 3.057% 1/25/2033 (USD-SOFR + 1.351% on 1/25/2032)1   5,991    5,004 
Citigroup, Inc. 3.785% 3/17/2033 (USD-SOFR + 1.939% on 3/17/2032)1   8,739    7,725 
Citigroup, Inc. 4.91% 5/24/2033 (USD-SOFR + 2.086% on 5/24/2032)1   2,935    2,842 
Citigroup, Inc. 6.27% 11/17/2033 (USD-SOFR + 2.338% on 11/17/2032)1   87,325    92,738 
Citigroup, Inc. 6.174% 5/25/2034 (USD-SOFR + 2.661% on 5/25/2033)1   925    934 
Commonwealth Bank of Australia 2.688% 3/11/20312   17,450    13,695 
Cooperatieve Rabobank UA 2.625% 7/22/20242   698    674 
Corebridge Financial, Inc. 3.50% 4/4/2025   10,376    9,892 
Corebridge Financial, Inc. 3.65% 4/5/2027   26,338    24,615 
Corebridge Financial, Inc. 3.85% 4/5/2029   37,736    33,989 
Corebridge Financial, Inc. 3.90% 4/5/2032   38,591    33,584 
Corebridge Financial, Inc. 4.35% 4/5/2042   2,317    1,873 
Corebridge Financial, Inc. 4.40% 4/5/2052   7,813    6,155 
Crédit Agricole SA 3.25% 10/4/20242   6,200    5,974 
Crédit Agricole SA 4.375% 3/17/20252   3,500    3,373 
Crédit Agricole SA 1.907% 6/16/2026 (USD-SOFR + 1.676% on 6/16/2025)1,2   12,000    11,053 
Crédit Agricole SA 1.247% 1/26/2027 (USD-SOFR + 0.892% on 1/26/2026)1,2   12,327    10,926 
Credit Suisse AG 2.95% 4/9/2025   2,350    2,210 
Credit Suisse AG 7.50% 2/15/2028   17,000    18,075 
Credit Suisse Group AG 4.55% 4/17/2026   7,000    6,733 
Danske Bank AS 3.875% 9/12/20232   15,165    15,108 
Danske Bank AS 6.466% 1/9/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.10% on 1/9/2025)1,2   3,831    3,824 
Danske Bank AS 1.549% 9/10/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.73% on 9/10/2026)1,2   14,200    12,345 
Danske Bank AS 4.298% 4/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on 4/1/2027)1,2   19,150    17,893 

 

4 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Financials (continued)          
DBS Bank, Ltd. (3-month AUD-BBSW + 0.55%) 4.767% 9/10/20243  AUD24,980   $16,645 
DBS Bank, Ltd. (3-month AUD-BBSW + 0.57%) 4.592% 12/2/20243   14,970    9,965 
Deutsche Bank AG 0.898% 5/28/2024  USD15,450    14,685 
Deutsche Bank AG 3.70% 5/30/2024   12,900    12,529 
Deutsche Bank AG 2.222% 9/18/2024 (USD-SOFR + 2.159% on 9/18/2023)1   89,334    88,210 
Deutsche Bank AG 1.447% 4/1/2025 (USD-SOFR + 1.131% on 4/1/2024)1   24,716    23,493 
Deutsche Bank AG 3.961% 11/26/2025 (USD-SOFR + 2.581% on 11/26/2024)1   17,750    16,933 
Deutsche Bank AG 4.10% 1/13/2026   16,415    15,377 
Deutsche Bank AG 4.10% 1/13/2026   4,936    4,662 
Deutsche Bank AG 2.129% 11/24/2026 (USD-SOFR + 1.87% on 11/24/2025)1   65,864    58,631 
Deutsche Bank AG 2.311% 11/16/2027 (USD-SOFR + 1.219% on 11/16/2026)1   54,900    47,217 
Deutsche Bank AG 2.552% 1/7/2028 (USD-SOFR + 1.318% on 1/7/2027)1   104,464    90,657 
Deutsche Bank AG 6.72% 1/18/2029 (USD-SOFR + 3.18% on 1/18/2028)1   60,492    60,625 
Deutsche Bank AG 3.547% 9/18/2031 (USD-SOFR + 3.043% on 9/18/2030)1   23,376    19,427 
Deutsche Bank AG 3.729% 1/14/2032 (USD-SOFR + 2.757% on 1/14/2031)1   23,000    17,407 
Deutsche Bank AG 3.035% 5/28/2032 (USD-SOFR + 1.718% on 5/28/2031)1   406    320 
Deutsche Bank AG 7.079% 2/10/2034 (USD-SOFR + 3.65% on 2/10/2033)1   1,500    1,388 
Discover Bank 3.45% 7/27/2026   2,343    2,158 
Discover Financial Services 6.70% 11/29/2032   5,278    5,440 
DNB Bank ASA 1.127% 9/16/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on 9/16/2025)1,2   2,882    2,575 
DNB Bank ASA 5.896% 10/9/2026 (USD-SOFR + 1.95% on 10/9/2025)1,2   2,000    1,982 
DNB Bank ASA 1.535% 5/25/2027 (5-year UST Yield Curve Rate T Note Constant Maturity + 0.72% on 5/25/2026)1,2   8,037    7,082 
Fidelity National Information Services, Inc. 1.15% 3/1/2026   22,429    20,019 
Fidelity National Information Services, Inc. 2.25% 3/1/2031   4,699    3,753 
Fiserv, Inc. 2.75% 7/1/2024   19,000    18,439 
Fiserv, Inc. 3.50% 7/1/2029   4,590    4,192 
Fiserv, Inc. 2.65% 6/1/2030   900    768 
Five Corners Funding Trust II 2.85% 5/15/20302   4,300    3,659 
Five Corners Funding Trust III 5.791% 2/15/20332   15,060    15,277 
Five Corners Funding Trust IV 5.997% 2/15/20532   2,500    2,544 
Fortrea Holdings, Inc. 7.50% 7/1/20302   2,825    2,896 
GE Capital Funding, LLC 4.55% 5/15/2032   2,672    2,597 
Global Payments, Inc. 2.90% 5/15/2030   3,345    2,838 
Global Payments, Inc. 2.90% 11/15/2031   5,973    4,864 
Goldman Sachs Group, Inc. 1.757% 1/24/2025 (USD-SOFR + 0.73% on 1/24/2024)1   2,500    2,435 
Goldman Sachs Group, Inc. 3.50% 4/1/2025   14,230    13,679 
Goldman Sachs Group, Inc. 0.855% 2/12/2026 (USD-SOFR + 0.609% on 2/12/2025)1   400    369 
Goldman Sachs Group, Inc. (3-month USD-LIBOR + 1.17%) 6.491% 5/15/20263   7,000    7,087 
Goldman Sachs Group, Inc. 1.093% 12/9/2026 (USD-SOFR + 0.789% on 12/9/2025)1   2,374    2,117 
Goldman Sachs Group, Inc. 1.542% 9/10/2027 (USD-SOFR + 0.818% on 9/10/2026)1   61,000    53,652 
Goldman Sachs Group, Inc. 1.948% 10/21/2027 (USD-SOFR + 0.913% on 10/21/2026)1   92,878    82,653 
Goldman Sachs Group, Inc. 2.64% 2/24/2028 (USD-SOFR + 1.114% on 2/24/2027)1   19,614    17,812 
Goldman Sachs Group, Inc. 3.615% 3/15/2028 (USD-SOFR + 1.846% on 3/15/2027)1   47,274    44,394 
Goldman Sachs Group, Inc. 4.482% 8/23/2028 (USD-SOFR + 1.725% on 8/23/2027)1   53,775    52,026 
Goldman Sachs Group, Inc. 3.814% 4/23/2029 (3-month USD CME Term SOFR + 1.42% on 4/23/2028)1   5,725    5,319 
Goldman Sachs Group, Inc. 2.60% 2/7/2030   5,356    4,567 
Goldman Sachs Group, Inc. 3.80% 3/15/2030   9,419    8,720 
Goldman Sachs Group, Inc. 1.992% 1/27/2032 (USD-SOFR + 1.09% on 1/27/2031)1   48,715    38,369 
Goldman Sachs Group, Inc. 2.615% 4/22/2032 (USD-SOFR + 1.281% on 4/22/2031)1   14,670    12,035 
Goldman Sachs Group, Inc. 2.383% 7/21/2032 (USD-SOFR + 1.248% on 7/21/2031)1   8,941    7,165 
Goldman Sachs Group, Inc. 2.65% 10/21/2032 (USD-SOFR + 1.264% on 10/21/2031)1   5,120    4,175 
Goldman Sachs Group, Inc. 3.102% 2/24/2033 (USD-SOFR + 1.41% on 2/24/2032)1   36,988    31,262 
Goldman Sachs Group, Inc. 4.017% 10/31/2038 (3-month USD CME Term SOFR + 1.635% on 10/31/2037)1   175    148 
Goldman Sachs Group, Inc. 2.908% 7/21/2042 (USD-SOFR + 1.40% on 7/21/2041)1   10,000    7,072 
Goldman Sachs Group, Inc. 3.436% 2/24/2043 (USD-SOFR + 1.632% on 2/24/2042)1   9,000    6,856 
HSBC Holdings PLC 2.633% 11/7/2025 (USD-SOFR + 1.402% on 11/7/2024)1   5,000    4,752 
HSBC Holdings PLC 2.256% 11/13/2026 (1-year GBP-ICE Swap + 1.317% on 11/13/2025)1  GBP6,050    6,854 
HSBC Holdings PLC 2.251% 11/22/2027 (USD-SOFR + 1.10% on 11/22/2026)1  USD11,240    9,982 
HSBC Holdings PLC 4.755% 6/9/2028 (USD-SOFR + 2.11% on 6/9/2027)1   22,033    21,187 
HSBC Holdings PLC 6.161% 3/9/2029 (USD-SOFR + 1.97% on 3/9/2028)1   15,000    15,142 

 

The Bond Fund of America 5
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Financials (continued)          
HSBC Holdings PLC 4.583% 6/19/2029 (3-month USD CME Term SOFR + 1.796% on 6/19/2028)1  USD5,000   $4,710 
HSBC Holdings PLC 2.206% 8/17/2029 (USD-SOFR + 1.285% on 8/17/2028)1   3,246    2,719 
HSBC Holdings PLC 4.95% 3/31/2030   3,150    3,104 
HSBC Holdings PLC 3.973% 5/22/2030 (3-month USD CME Term SOFR + 1.872% on 5/22/2029)1   21,463    19,293 
HSBC Holdings PLC 3.00% 5/29/2030 (1-year EUR Annual (vs. 6-month GBP-LIBOR) + 1.77% on 5/29/2029)1  GBP3,613    3,729 
HSBC Holdings PLC 2.357% 8/18/2031 (USD-SOFR + 1.947% on 8/18/2030)1  USD5,870    4,689 
HSBC Holdings PLC 2.804% 5/24/2032 (USD-SOFR + 1.187% on 5/24/2031)1   40,300    32,615 
HSBC Holdings PLC 2.871% 11/22/2032 (USD-SOFR + 1.41% on 11/22/2031)1   4,222    3,407 
HSBC Holdings PLC 8.113% 11/3/2033 (USD-SOFR + 4.25% on 11/3/2032)1   15,000    16,661 
HSBC Holdings PLC 6.254% 3/9/2034 (USD-SOFR + 2.39% on 3/9/2033)1   4,200    4,308 
HSBC Holdings PLC 6.332% 3/9/2044 (USD-SOFR + 2.65% on 3/9/2043)1   18,190    18,874 
Huarong Finance 2017 Co., Ltd. 4.75% 4/27/2027   7,854    6,802 
Huarong Finance 2017 Co., Ltd. 4.25% 11/7/2027   39,663    33,068 
Huarong Finance 2019 Co., Ltd. (3-month USD-LIBOR + 1.25%) 6.625% 2/24/20253   2,556    2,405 
Huarong Finance 2019 Co., Ltd. 4.50% 5/29/2029   2,367    1,900 
Huarong Finance 2019 Co., Ltd. 3.875% 11/13/2029   2,500    1,931 
Huarong Finance 2019 Co., Ltd. 3.375% 2/24/2030   9,029    6,848 
Huarong Finance II Co., Ltd. 5.50% 1/16/2025   38,773    36,891 
Huarong Finance II Co., Ltd. 5.00% 11/19/2025   3,637    3,359 
Huarong Finance II Co., Ltd. 4.625% 6/3/2026   360    321 
Huarong Finance II Co., Ltd. 4.875% 11/22/2026   12,224    10,827 
Industrial and Commercial Bank of China, Ltd. 2.875% 9/12/2029 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.65% on 9/12/2024)3   3,000    2,888 
Insurance Australia Group, Ltd. (3-month AUD-BBSW + 2.45%) 6.686% 12/15/20363  AUD7,280    4,836 
Intercontinental Exchange, Inc. 4.00% 9/15/2027  USD259    252 
Intercontinental Exchange, Inc. 4.35% 6/15/2029   20,255    19,836 
Intercontinental Exchange, Inc. 2.10% 6/15/2030   20,000    16,764 
Intercontinental Exchange, Inc. 4.60% 3/15/2033   21,619    20,994 
Intercontinental Exchange, Inc. 2.65% 9/15/2040   3,875    2,745 
Intercontinental Exchange, Inc. 3.00% 6/15/2050   14,706    10,228 
Intercontinental Exchange, Inc. 4.95% 6/15/2052   7,119    6,779 
Intercontinental Exchange, Inc. 3.00% 9/15/2060   6,311    4,136 
Intesa Sanpaolo SpA 5.017% 6/26/20242   125,758    121,858 
Intesa Sanpaolo SpA 3.25% 9/23/20242   8,260    7,927 
Intesa Sanpaolo SpA 7.00% 11/21/20252   20,450    20,650 
Intesa Sanpaolo SpA 5.71% 1/15/20262   24,105    22,964 
Intesa Sanpaolo SpA 3.875% 7/14/20272   10,275    9,270 
Intesa Sanpaolo SpA 3.875% 1/12/20282   4,974    4,445 
Intesa Sanpaolo SpA 4.00% 9/23/20292   3,000    2,609 
Intesa Sanpaolo SpA 8.248% 11/21/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 4.40% on 11/21/2032)1,2   2,525    2,654 
Intesa Sanpaolo SpA 7.778% 6/20/2054 (1-year UST Yield Curve Rate T Note Constant Maturity + 3.90% on 6/20/2053)1,2   37,275    37,184 
Iron Mountain Information Management Services, Inc. 5.00% 7/15/20322   12,345    10,675 
JPMorgan Chase & Co. 4.023% 12/5/2024 (3-month USD CME Term SOFR + 1.262% on 12/5/2023)1   5,000    4,958 
JPMorgan Chase & Co. 2.301% 10/15/2025 (USD-SOFR + 1.16% on 10/15/2024)1   62,749    59,819 
JPMorgan Chase & Co. 1.561% 12/10/2025 (USD-SOFR + 0.605% on 12/10/2024)1   155,249    145,429 
JPMorgan Chase & Co. 5.546% 12/15/2025 (USD-SOFR + 1.07% on 12/15/2024)1   5,002    4,983 
JPMorgan Chase & Co. 2.005% 3/13/2026 (USD-SOFR + 1.585% on 3/13/2025)1   22,000    20,672 
JPMorgan Chase & Co. 1.578% 4/22/2027 (USD-SOFR + 0.885% on 4/22/2026)1   23,622    21,229 
JPMorgan Chase & Co. 1.47% 9/22/2027 (USD-SOFR + 0.765% on 9/22/2026)1   31,459    27,792 
JPMorgan Chase & Co. 2.947% 2/24/2028 (USD-SOFR + 1.17% on 2/24/2027)1   67,908    62,402 
JPMorgan Chase & Co. 4.323% 4/26/2028 (USD-SOFR + 1.56% on 4/26/2027)1   57,161    55,208 
JPMorgan Chase & Co. 4.851% 7/25/2028 (USD-SOFR + 1.99% on 7/25/2027)1   39,114    38,615 
JPMorgan Chase & Co. 3.509% 1/23/2029 (3-month USD CME Term SOFR + 1.207% on 1/23/2028)1   13,444    12,439 
JPMorgan Chase & Co. 2.069% 6/1/2029 (USD-SOFR + 1.015% on 6/1/2028)1   41,999    36,051 
JPMorgan Chase & Co. 2.522% 4/22/2031 (USD-SOFR + 2.04% on 4/22/2030)1   1,725    1,460 
JPMorgan Chase & Co. 1.764% 11/19/2031 (USD-SOFR + 1.05% on 11/19/2030)1   2,115    1,675 
JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031)1   8,744    6,970 
JPMorgan Chase & Co. 2.58% 4/22/2032 (USD-SOFR + 1.25% on 4/22/2031)1   1,890    1,571 
JPMorgan Chase & Co. 2.545% 11/8/2032 (USD-SOFR + 1.18% on 11/8/2031)1   20,939    17,165 
JPMorgan Chase & Co. 2.963% 1/25/2033 (USD-SOFR + 1.26% on 1/25/2032)1   3,017    2,543 

 

6 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Financials (continued)          
JPMorgan Chase & Co. 4.586% 4/26/2033 (USD-SOFR + 1.80% on 4/26/2032)1  USD10,264   $9,789 
JPMorgan Chase & Co. 4.912% 7/25/2033 (USD-SOFR + 2.08% on 7/25/2032)1   25,797    25,218 
JPMorgan Chase & Co. 5.35% 6/1/2034 (USD-SOFR + 1.845% on 6/1/2033)1   41,503    41,851 
JPMorgan Chase & Co. 3.109% 4/22/2051 (USD-SOFR + 3.109% on 4/22/2050)1   351    246 
JPMorgan Chase & Co. 3.328% 4/22/2052 (USD-SOFR + 1.58% on 4/22/2051)1   1,907    1,391 
Kasikornbank PCL (Hong Kong Branch) 5.458% 3/7/2028   3,000    3,003 
Kasikornbank PCL (Hong Kong Branch) 3.343% 10/2/2031 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.70% on 10/2/2026)1   19,035    16,822 
KBC Groep NV 5.796% 1/19/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.10% on 1/19/2028)1,2   9,675    9,618 
Korea Exchange Bank 3.25% 3/30/20272   8,350    7,823 
Lloyds Banking Group PLC 3.87% 7/9/2025 (1-year UST Yield Curve Rate T Note Constant Maturity + 3.50% on 7/9/2024)1   523    510 
Lloyds Banking Group PLC 2.438% 2/5/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.00% on 2/5/2025)1   13,875    13,071 
Lloyds Banking Group PLC 1.627% 5/11/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on 5/11/2026)1   312    276 
Lloyds Banking Group PLC 3.75% 3/18/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.80% on 3/18/2027)1   26,573    24,565 
Lloyds Banking Group PLC 4.375% 3/22/2028   6,323    6,002 
Lloyds Banking Group PLC 5.871% 3/6/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.70% on 3/6/2028)1   19,000    18,862 
Lloyds Banking Group PLC 4.976% 8/11/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.30% on 8/11/2032)1   16,390    15,341 
LPL Holdings, Inc. 4.625% 11/15/20272   270    253 
LPL Holdings, Inc. 4.375% 5/15/20312   1,800    1,557 
M&T Bank Corp. 5.00% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 3.174% on 8/1/2024)1   5,000    3,952 
Macquarie Bank, Ltd. 5.208% 6/15/20262   5,000    4,959 
Marsh & McLennan Companies, Inc. 3.875% 3/15/2024   17,615    17,381 
Marsh & McLennan Companies, Inc. 2.25% 11/15/2030   4,221    3,513 
Marsh & McLennan Companies, Inc. 2.375% 12/15/2031   1,192    972 
Marsh & McLennan Companies, Inc. 4.75% 3/15/2039   750    708 
Marsh & McLennan Companies, Inc. 2.90% 12/15/2051   6,145    4,102 
Marsh & McLennan Companies, Inc. 5.45% 3/15/2053   1,325    1,350 
Mastercard, Inc. 4.875% 3/9/2028   1,186    1,200 
Mastercard, Inc. 4.85% 3/9/2033   26,853    27,323 
Mastercard, Inc. 2.95% 3/15/2051   4,308    3,148 
Met Tower Global Funding 5.40% 6/20/20262   10,000    9,960 
MetLife Capital Trust IV, junior subordinated, 7.875% 12/15/2067 (3-month USD-LIBOR + 3.96% on 12/1/2037)1,2   100    105 
MetLife, Inc. 3.60% 11/13/2025   100    96 
MetLife, Inc. 4.55% 3/23/2030   2,417    2,365 
MetLife, Inc. 4.60% 5/13/2046   800    724 
Metropolitan Life Global Funding I 3.60% 1/11/20242   3,000    2,967 
Metropolitan Life Global Funding I 0.95% 7/2/20252   5,764    5,245 
Metropolitan Life Global Funding I 3.45% 12/18/20262   2,315    2,167 
Metropolitan Life Global Funding I 4.40% 6/30/20272   4,574    4,447 
Metropolitan Life Global Funding I 5.05% 1/6/20282   11,150    11,110 
Metropolitan Life Global Funding I 3.05% 6/17/20292   5,000    4,439 
Metropolitan Life Global Funding I 4.30% 8/25/20292   8,134    7,719 
Metropolitan Life Global Funding I 2.95% 4/9/20302   980    848 
Metropolitan Life Global Funding I 1.55% 1/7/20312   2,284    1,779 
Metropolitan Life Global Funding I 2.40% 1/11/20322   3,250    2,657 
Metropolitan Life Global Funding I 5.15% 3/28/20332   7,621    7,543 
Mitsubishi UFJ Financial Group, Inc. 0.962% 10/11/2025 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.45% on 10/11/2024)1   17,000    15,870 
Mitsubishi UFJ Financial Group, Inc. 1.538% 7/20/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.75% on 7/20/2026)1   35,000    30,911 
Mitsubishi UFJ Financial Group, Inc. 1.64% 10/13/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.67% on 10/13/2026)1   12,800    11,273 
Mitsubishi UFJ Financial Group, Inc. 2.341% 1/19/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.83% on 1/19/2027)1   18,000    16,111 
Mitsubishi UFJ Financial Group, Inc. 4.08% 4/19/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.30% on 4/19/2027)1   19,000    18,041 
Mitsubishi UFJ Financial Group, Inc. 5.422% 2/22/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.38% on 2/22/2028)1   10,000    9,953 

 

The Bond Fund of America 7
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Financials (continued)          
Mitsubishi UFJ Financial Group, Inc. 2.309% 7/20/2032 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.95% on 7/20/2031)1  USD5,349   $4,262 
Mitsubishi UFJ Financial Group, Inc. 5.133% 7/20/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.125% on 7/20/2032)1   631    619 
Mizuho Financial Group, Inc. 1.234% 5/22/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.67% on 5/22/2026)1   10,000    8,792 
Mizuho Financial Group, Inc. 1.554% 7/9/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.75% on 7/9/2026)1   26,000    22,954 
Mizuho Financial Group, Inc. 5.778% 7/6/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.65% on 7/6/2028)1   12,530    12,569 
Mizuho Financial Group, Inc. 5.669% 9/13/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.40% on 9/13/2032)1   16,070    16,200 
Moody’s Corp. 4.25% 8/8/2032   4,220    4,013 
Morgan Stanley (USD-SOFR + 0.455%) 5.09% 1/25/20243   1,768    1,766 
Morgan Stanley 2.72% 7/22/2025 (USD-SOFR + 1.152% on 7/22/2024)1   1,640    1,582 
Morgan Stanley 1.164% 10/21/2025 (USD-SOFR + 0.56% on 10/21/2024)1   995    930 
Morgan Stanley 4.754% 4/21/2026   25,000    24,643 
Morgan Stanley 2.188% 4/28/2026 (USD-SOFR + 1.99% on 4/28/2025)1   1,326    1,245 
Morgan Stanley 0.985% 12/10/2026 (USD-SOFR + 0.72% on 12/10/2025)1   1,386    1,236 
Morgan Stanley 1.593% 5/4/2027 (USD-SOFR + 0.879% on 5/4/2026)1   9,411    8,429 
Morgan Stanley 1.512% 7/20/2027 (USD-SOFR + 0.858% on 7/20/2026)1   70,656    62,625 
Morgan Stanley 2.475% 1/21/2028 (USD-SOFR + 1.00% on 1/21/2027)1   2,594    2,343 
Morgan Stanley 4.21% 4/20/2028 (USD-SOFR + 1.61% on 4/20/2027)1   19,041    18,307 
Morgan Stanley 6.296% 10/18/2028 (USD-SOFR + 2.44% on 10/18/2027)1   25,332    26,053 
Morgan Stanley 5.123% 2/1/2029 (USD-SOFR + 1.73% on 2/1/2028)1   61,702    60,890 
Morgan Stanley 5.164% 4/20/2029 (USD-SOFR + 1.59% on 4/20/2028)1   49,800    49,229 
Morgan Stanley 2.699% 1/22/2031 (USD-SOFR + 1.143% on 1/22/2030)1   2,300    1,957 
Morgan Stanley 1.794% 2/13/2032 (USD-SOFR + 1.034% on 2/13/2031)1   35,786    27,779 
Morgan Stanley 1.928% 4/28/2032 (USD-SOFR + 1.02% on 4/28/2031)1   5,267    4,114 
Morgan Stanley 2.239% 7/21/2032 (USD-SOFR + 1.178% on 7/21/2031)1   44,097    35,066 
Morgan Stanley 2.511% 10/20/2032 (USD-SOFR + 1.20% on 10/20/2031)1   13,946    11,271 
Morgan Stanley 2.943% 1/21/2033 (USD-SOFR + 1.29% on 1/21/2032)1   16,934    14,085 
Morgan Stanley 4.889% 7/20/2033 (USD-SOFR + 2.077% on 7/20/2032)1   12,315    11,859 
Morgan Stanley 6.342% 10/18/2033 (USD-SOFR + 2.565% on 10/18/2032)1   16,107    17,142 
Morgan Stanley 5.25% 4/21/2034 (USD-SOFR + 1.87% on 4/21/2033)1   45,895    45,341 
Morgan Stanley 5.297% 4/20/2037 (USD-SOFR + 2.62% on 4/20/2032)1   20,106    19,035 
Morgan Stanley 3.217% 4/22/2042 (USD-SOFR + 1.485% on 4/22/2041)1   5,708    4,335 
MSCI, Inc. 3.625% 9/1/20302   16,200    13,985 
MSCI, Inc. 3.25% 8/15/20332   15,450    12,459 
Münchener Rückversicherungs-Gesellschaft AG 5.875% 5/23/2042 (5-year UST Yield Curve Rate T Note Constant Maturity + 3.982% on 5/23/2032)1,2   6,000    6,034 
Nasdaq, Inc. 5.35% 6/28/2028   4,393    4,402 
Nasdaq, Inc. 5.55% 2/15/2034   9,368    9,409 
Nasdaq, Inc. 5.95% 8/15/2053   625    640 
Nasdaq, Inc. 6.10% 6/28/2063   792    811 
National Australia Bank, Ltd. 4.944% 1/12/2028   3,474    3,475 
National Australia Bank, Ltd. 4.90% 6/13/2028   5,000    4,956 
Nationwide Building Society 4.363% 8/1/2024 (3-month USD-LIBOR + 1.392% on 8/1/2023)1,2   33,400    33,334 
NatWest Group PLC 5.847% 3/2/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.35% on 3/2/2026)1   25,000    24,742 
NatWest Group PLC 3.073% 5/22/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.55% on 5/22/2027)1   7,500    6,753 
NatWest Group PLC 5.076% 1/27/2030 (3-month USD-LIBOR + 1.905% on 1/27/2029)1   2,650    2,530 
NatWest Group PLC 4.445% 5/8/2030 (3-month USD-LIBOR + 1.871% on 5/5/2029)1   11,600    10,673 
NatWest Group PLC 6.016% 3/2/2034 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.10% on 3/2/2033)1   8,000    8,048 
Navient Corp. 5.875% 10/25/2024   1,000    984 
Navient Corp. 6.75% 6/25/2025   5,000    4,920 
Navient Corp. 5.00% 3/15/2027   6,250    5,597 
Navient Corp. 5.625% 8/1/2033   3,000    2,259 
New York Life Global Funding 0.95% 6/24/20252   1,403    1,282 
New York Life Global Funding 0.85% 1/15/20262   32,280    28,869 
New York Life Global Funding 3.25% 4/7/20272   17,000    16,005 
New York Life Global Funding 4.90% 6/13/20282   7,500    7,435 
New York Life Global Funding 1.20% 8/7/20302   15,487    12,008 
New York Life Global Funding 1.85% 8/1/20312   2,250    1,779 

 

8 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Financials (continued)          
New York Life Global Funding 4.55% 1/28/20332  USD8,366   $8,066 
NongHyup Bank 4.875% 7/3/20282   16,213    16,008 
Nordea Bank ABP 3.60% 6/6/20252   7,360    7,054 
Northwestern Mutual Global Funding 0.80% 1/14/20262   16,382    14,609 
OneMain Finance Corp. 6.125% 3/15/2024   500    499 
OneMain Finance Corp. 7.125% 3/15/2026   9,300    9,146 
Oversea-Chinese Banking Corp., Ltd. (3-month AUD-BBSW + 0.70%) 4.354% 4/14/20253  AUD29,750    19,832 
Oversea-Chinese Banking Corp., Ltd. 1.832% 9/10/2030 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.58% on 9/10/2025)1  USD2,250    2,052 
PayPal Holdings, Inc. 3.90% 6/1/2027   5,603    5,422 
PayPal Holdings, Inc. 4.40% 6/1/2032   15,247    14,697 
PayPal Holdings, Inc. 3.25% 6/1/2050   1,114    809 
PayPal Holdings, Inc. 5.05% 6/1/2052   32,292    31,643 
PayPal Holdings, Inc. 5.25% 6/1/2062   321    312 
PNC Financial Services Group, Inc. 5.354% 12/2/2028 (USD-SOFR + 1.62% on 12/2/2027)1   10,000    9,897 
PNC Financial Services Group, Inc. 5.582% 6/12/2029 (USD-SOFR + 1.841% on 6/12/2028)1   43,252    43,080 
PNC Financial Services Group, Inc. 6.037% 10/28/2033 (USD-SOFR + 2.14% on 10/28/2032)1   9,176    9,395 
PNC Financial Services Group, Inc. 5.068% 1/24/2034 (USD-SOFR + 1.933% on 1/24/2033)1   11,898    11,414 
PNC Financial Services Group, Inc. 3.40% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 2.595% on 9/15/2026)1   4,562    3,376 
Power Finance Corp., Ltd. 4.50% 6/18/2029   5,000    4,644 
Power Finance Corp., Ltd. 3.90% 9/16/2029   2,000    1,784 
Power Finance Corp., Ltd. 3.95% 4/23/2030   32,000    28,488 
Power Finance Corp., Ltd. 3.35% 5/16/2031   8,670    7,276 
PRICOA Global Funding I 3.45% 9/1/20232   11,825    11,775 
Prudential Financial, Inc. 3.905% 12/7/2047   850    679 
Prudential Financial, Inc. 4.418% 3/27/2048   1,000    849 
Prudential Financial, Inc. 4.35% 2/25/2050   1,155    981 
Prudential Financial, Inc. 3.70% 3/13/2051   10,665    8,185 
QBE Insurance Group, Ltd. (3-month AUD-BBSW + 2.75%) 6.68% 8/25/20363  AUD12,200    8,083 
QBE Insurance Group, Ltd. 2.50% 9/13/2038 (5-year GBP-GILT + 2.061% on 9/13/2028)1  GBP3,840    3,733 
Rede D’Or Finance SARL 4.50% 1/22/20302  USD3,800    3,242 
Royal Bank of Canada 0.75% 10/7/2024   1,347    1,265 
Royal Bank of Canada 4.95% 4/25/2025   5,000    4,936 
Royal Bank of Canada 3.625% 5/4/2027   748    708 
Royal Bank of Canada 6.00% 11/1/2027   1,098    1,125 
Royal Bank of Canada 4.90% 1/12/2028   1,650    1,629 
Royal Bank of Canada 5.00% 2/1/2033   58,704    57,574 
Santander Holdings USA, Inc. 3.50% 6/7/2024   13,325    12,944 
Santander Holdings USA, Inc. 2.49% 1/6/2028 (USD-SOFR + 1.249% on 1/6/2027)1   10,775    9,316 
Santander Holdings USA, Inc. 6.499% 3/9/2029 (USD-SOFR + 2.356% on 3/9/2028)1   28,100    27,816 
Standard Chartered PLC 6.296% 7/6/2034 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.58% on 7/6/2033)1,2   8,908    8,927 
Starwood Property Trust, Inc. 5.50% 11/1/20232   2,295    2,278 
State Street Corp. 5.82% 11/4/2028 (USD-SOFR + 1.715% on 11/4/2027)1   430    441 
State Street Corp. 4.164% 8/4/2033 (USD-SOFR + 1.726% on 8/4/2032)1   10,825    10,031 
State Street Corp. 4.821% 1/26/2034 (USD-SOFR + 1.567% on 1/26/2033)1   18,331    17,807 
State Street Corp. 5.159% 5/18/2034 (USD-SOFR + 1.89% on 5/18/2033)1   56,354    56,042 
Sumitomo Mitsui Financial Group, Inc. 2.174% 1/14/2027   6,775    6,061 
Sumitomo Mitsui Financial Group, Inc. 5.766% 1/13/2033   427    440 
Suncorp Group, Ltd. (3-month AUD-BBSW + 2.15%) 6.223% 12/5/20283  AUD1,000    667 
Suncorp Group, Ltd. (3-month AUD-BBSW + 2.30%) 6.315% 6/1/20373   7,500    4,991 
Suncorp Group, Ltd. (3-month AUD-BBSW + 2.65%) 6.665% 12/1/20383   50    34 
Suncorp-Metway, Ltd. (3-month AUD-BBSW + 0.78%) 4.458% 7/30/20243   24,500    16,334 
SVB Financial Group 4.70% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 3.064% on 11/15/2031)1,4  USD11,614    824 
Svenska Handelsbanken AB 5.50% 6/15/20282   5,000    4,904 
Synchrony Bank 5.40% 8/22/2025   17,000    16,278 
Synchrony Bank 5.625% 8/23/2027   17,000    15,967 
Synchrony Financial 4.375% 3/19/2024   5,825    5,713 

 

The Bond Fund of America 9
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Financials (continued)          
Synchrony Financial 2.875% 10/28/2031  USD6,500   $4,732 
The Allstate Corp. 0.75% 12/15/2025   2,089    1,872 
The Allstate Corp. 5.25% 3/30/2033   12,453    12,426 
The Allstate Corp. 3.85% 8/10/2049   6,100    4,747 
The Bank of Nova Scotia 5.25% 6/12/2028   10,000    9,935 
The Hongkong Land Finance (Cayman Islands) Co., Ltd. 4.625% 1/16/2024   4,000    3,974 
The Northwestern Mutual Life Insurance Co. 4.90% 6/12/20282   15,250    15,144 
Toronto-Dominion Bank 0.75% 9/11/2025   23,900    21,642 
Toronto-Dominion Bank 5.156% 1/10/2028   107,923    107,232 
Toronto-Dominion Bank 4.456% 6/8/2032   5,061    4,806 
Travelers Companies, Inc. 4.00% 5/30/2047   2,250    1,902 
Travelers Companies, Inc. 4.10% 3/4/2049   1,500    1,282 
Travelers Companies, Inc. 2.55% 4/27/2050   1,601    1,029 
Travelers Companies, Inc. 5.45% 5/25/2053   1,914    2,005 
Truist Financial Corp. 6.047% 6/8/2027 (USD-SOFR + 2.05% on 6/8/2026)1   10,000    10,009 
Truist Financial Corp. 4.873% 1/26/2029 (USD-SOFR + 1.435% on 1/26/2028)1   18,000    17,313 
Truist Financial Corp. 5.122% 1/26/2034 (USD-SOFR + 1.60% on 1/26/2033)1   18,975    17,988 
Truist Financial Corp. 5.867% 6/8/2034 (USD-SOFR + 2.361% on 6/8/2033)1   8,929    8,937 
U.S. Bancorp 2.40% 7/30/2024   19,000    18,332 
U.S. Bancorp 3.10% 4/27/2026   7,000    6,545 
U.S. Bancorp 4.548% 7/22/2028 (USD-SOFR + 1.66% on 7/27/2027)1   16,000    15,313 
U.S. Bancorp 4.653% 2/1/2029 (USD-SOFR + 1.23% on 2/1/2028)1   7,500    7,171 
U.S. Bancorp 5.775% 6/12/2029 (USD-SOFR + 2.02% on 6/12/2028)1   7,500    7,503 
U.S. Bancorp 2.677% 1/27/2033 (USD-SOFR + 1.02% on 1/27/2032)1   2,675    2,142 
U.S. Bancorp 4.839% 2/1/2034 (USD-SOFR + 1.60% on 2/1/2033)1   49,596    46,350 
U.S. Bancorp 5.836% 6/12/2034 (USD-SOFR + 2.26% on 6/10/2033)1   29,852    30,082 
U.S. Bancorp 3.70% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 2.541% on 1/15/2027)1   4,711    3,507 
U.S. Bank National Association 3.40% 7/24/2023   13,125    13,108 
UBS Group AG 4.49% 8/5/2025 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.60% on 8/5/2024)1,2   2,360    2,308 
UBS Group AG 2.593% 9/11/2025 (USD-SOFR + 1.56% on 9/11/2024)1,2   3,418    3,259 
UBS Group AG 2.193% 6/5/2026 (USD-SOFR + 2.044% on 6/5/2025)1,2   26,727    24,522 
UBS Group AG 5.711% 1/12/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.55% on 1/12/2026)1,2   20,000    19,811 
UBS Group AG 1.364% 1/30/2027 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.08% on 1/30/2026)1,2   5,300    4,647 
UBS Group AG 1.305% 2/2/2027 (USD-SOFR + 0.98% on 2/2/2026)1,2   38,389    33,635 
UBS Group AG 4.703% 8/5/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.05% on 8/5/2026)1,2   50,000    47,809 
UBS Group AG 1.494% 8/10/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on 8/10/2026)1,2   22,475    19,318 
UBS Group AG 4.751% 5/12/2028 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on 5/12/2027)1,2   8,300    7,872 
UBS Group AG 6.442% 8/11/2028 (USD-SOFR + 3.70% on 8/11/2027)1,2   10,000    10,045 
UBS Group AG 3.869% 1/12/2029 (3-month USD-LIBOR + 1.41% on 1/12/2028)1,2   12,135    10,981 
UBS Group AG 3.126% 8/13/2030 (3-month USD-LIBOR + 1.468% on 8/13/2029)1,2   11,000    9,279 
UBS Group AG 4.194% 4/1/2031 (USD-SOFR + 3.73% on 4/1/2030)1,2   75,875    67,573 
UBS Group AG 2.095% 2/11/2032 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.00% on 2/11/2031)1,2   11,785    8,934 
UBS Group AG 3.091% 5/14/2032 (USD-SOFR + 1.73% on 5/14/2031)1,2   69,306    56,092 
UBS Group AG 2.746% 2/11/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.10% on 2/11/2032)1,2   20,567    16,032 
UBS Group AG 6.537% 8/12/2033 (USD-SOFR + 3.92% on 8/12/2032)1,2   6,855    7,026 
UBS Group AG 9.016% 11/15/2033 (USD-SOFR + 5.02% on 11/15/2032)1,2   46,875    56,221 
UBS Group AG 5.959% 1/12/2034 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.20% on 1/12/2033)1,2   2,451    2,440 
UniCredit SpA 4.625% 4/12/20272   17,010    16,171 
UniCredit SpA 5.861% 6/19/2032 (5-year USD-ICE Swap + 3.703% on 6/19/2027)1,2   29,477    26,818 
United Overseas Bank, Ltd. 2.00% 10/14/2031 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.23% on 10/14/2026)1,2   8,430    7,410 
Vigorous Champion International, Ltd. 4.25% 5/28/2029   1,708    1,519 
Vnesheconombank Via VEB Finance PLC 6.80% 11/22/20252,4,5   500    6 
Wells Fargo & Company 2.406% 10/30/2025 (3-month USD CME Term SOFR + 1.087% on 10/30/2024)1   36,060    34,353 
Wells Fargo & Company 3.00% 4/22/2026   3,053    2,872 
Wells Fargo & Company 3.908% 4/25/2026 (USD-SOFR + 1.32% on 4/25/2025)1   9,960    9,634 

 

10 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Financials (continued)          
Wells Fargo & Company 3.00% 10/23/2026  USD28,791   $26,745 
Wells Fargo & Company 3.196% 6/17/2027 (3-month USD CME Term SOFR + 1.432% on 6/17/2026)1   23,774    22,338 
Wells Fargo & Company 3.526% 3/24/2028 (USD-SOFR + 1.51% on 3/24/2027)1   59,108    55,229 
Wells Fargo & Company 2.393% 6/2/2028 (USD-SOFR + 2.10% on 6/2/2027)1   8,416    7,506 
Wells Fargo & Company 4.808% 7/25/2028 (USD-SOFR + 1.98% on 7/25/2027)1   85,603    83,745 
Wells Fargo & Company 2.879% 10/30/2030 (3-month USD CME Term SOFR + 1.432% on 10/30/2029)1   800    692 
Wells Fargo & Company 3.35% 3/2/2033 (USD-SOFR + 1.50% on 3/2/2032)1   10,885    9,320 
Wells Fargo & Company 4.897% 7/25/2033 (USD-SOFR + 4.897% on 7/25/2032)1   22,619    21,709 
Wells Fargo & Company 5.389% 4/24/2034 (USD-SOFR + 2.02% on 4/24/2033)1   110,746    110,090 
Wells Fargo & Company 4.611% 4/25/2053 (USD-SOFR + 2.13% on 4/25/2052)1   69,324    60,855 
Westpac Banking Corp. 2.894% 2/4/2030 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.35% on 2/4/2025)1   10,000    9,348 
Westpac Banking Corp. 4.11% 7/24/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.00% on 7/24/2029)1   11,339    9,871 
Westpac Banking Corp. 2.668% 11/15/2035 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on 11/15/2030)1   20,125    15,460 
Willis North America, Inc. 4.65% 6/15/2027   5,685    5,527 
Willis North America, Inc. 5.35% 5/15/2033   7,500    7,319 
Willis North America, Inc. 3.875% 9/15/2049   4,700    3,431 
Xiaomi Best Time International, Ltd. 3.375% 4/29/2030   2,865    2,330 
Xiaomi Best Time International, Ltd. 2.875% 7/14/2031   2,000    1,513 
Xiaomi Best Time International, Ltd. 4.10% 7/14/2051   3,000    1,778 
         7,653,909 
           
Utilities 4.27%          
Adani Transmission Step-One, Ltd. 4.00% 8/3/2026   2,000    1,750 
AEP Texas, Inc. 3.45% 5/15/2051   5,551    3,958 
AEP Transmission Co., LLC 3.10% 12/1/2026   12,269    11,510 
AEP Transmission Co., LLC 3.65% 4/1/2050   110    86 
AEP Transmission Co., LLC 2.75% 8/15/2051   2,181    1,410 
AES Panama Generation Holdings SRL 4.375% 5/31/20302   8,488    7,256 
Alabama Power Co. 3.00% 3/15/2052   31,200    21,108 
Alfa Desarrollo SpA 4.55% 9/27/20512   5,702    4,189 
Ameren Corp. 2.50% 9/15/2024   1,616    1,549 
American Electric Power Company, Inc. 1.00% 11/1/2025   3,075    2,778 
American Electric Power Company, Inc. 4.30% 12/1/2028   31,133    29,718 
American Electric Power Company, Inc. 3.25% 3/1/2050   22,050    15,104 
American Transmission Systems, Inc. 2.65% 1/15/20322   1,695    1,404 
Atlantic City Electric Co. 2.30% 3/15/2031   2,175    1,800 
Baltimore Gas and Electric Co. 4.55% 6/1/2052   3,150    2,807 
Berkshire Hathaway Energy Company 4.50% 2/1/2045   200    171 
Berkshire Hathaway Energy Company 4.60% 5/1/2053   12,684    10,883 
Calpine Corp. 5.25% 6/1/20262   3,398    3,284 
Calpine Corp. 4.50% 2/15/20282   4,000    3,625 
CenterPoint Energy Houston Electric, LLC 4.95% 4/1/2033   5,750    5,743 
CenterPoint Energy Houston Electric, LLC 2.90% 7/1/2050   5,867    4,007 
CenterPoint Energy Houston Electric, LLC 3.60% 3/1/2052   5,392    4,197 
CenterPoint Energy, Inc. 2.65% 6/1/2031   15,737    13,139 
CenterPoint Energy, Inc. 3.70% 9/1/2049   2,775    2,093 
CMS Energy Corp. 3.00% 5/15/2026   6,667    6,246 
CMS Energy Corp. 3.45% 8/15/2027   1,460    1,366 
Colbún SA 3.95% 10/11/20272   7,000    6,636 
Comision Federal de Electricidad 4.688% 5/15/20292   30,765    27,723 
Consumers Energy Co. 3.60% 8/15/2032   41,137    37,131 
Consumers Energy Co. 4.625% 5/15/2033   35,460    34,528 
Consumers Energy Co. 3.25% 8/15/2046   7,385    5,460 
Consumers Energy Co. 3.75% 2/15/2050   7,594    6,061 
Consumers Energy Co. 3.10% 8/15/2050   10,243    7,252 
Consumers Energy Co. 2.65% 8/15/2052   11,863    7,619 
Dominion Energy, Inc. 3.30% 3/15/2025   2,113    2,025 
Dominion Energy, Inc. 3.375% 4/1/2030   20,716    18,550 
Dominion Energy, Inc., junior subordinated, 3.071% 8/15/2024   4,825    4,662 
DPL, Inc. 4.125% 7/1/2025   1,040    992 
DTE Electric Co. 2.625% 3/1/2031   4,242    3,629 
DTE Electric Co. 5.20% 4/1/2033   1,500    1,525 

 

The Bond Fund of America 11
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Utilities (continued)          
DTE Electric Co. 3.70% 3/15/2045  USD657   $524 
DTE Electric Co. 3.65% 3/1/2052   2,146    1,675 
DTE Energy Company 2.85% 10/1/2026   6,100    5,616 
DTE Energy Company 1.90% 4/1/2028   1,505    1,318 
DTE Energy Company 2.25% 3/1/2030   19,855    16,974 
DTE Energy Company 3.00% 3/1/2032   31,550    27,196 
DTE Energy Company 2.95% 3/1/2050   1,994    1,359 
Duke Energy Carolinas, LLC 2.45% 8/15/2029   32,831    28,361 
Duke Energy Carolinas, LLC 2.55% 4/15/2031   3,362    2,855 
Duke Energy Carolinas, LLC 4.95% 1/15/2033   5,373    5,336 
Duke Energy Carolinas, LLC 3.20% 8/15/2049   77    55 
Duke Energy Carolinas, LLC 5.35% 1/15/2053   3,528    3,579 
Duke Energy Corp. 4.50% 8/15/2032   49,225    46,426 
Duke Energy Corp. 3.50% 6/15/2051   599    435 
Duke Energy Corp. 5.00% 8/15/2052   2,563    2,345 
Duke Energy Florida, LLC 2.50% 12/1/2029   7,463    6,451 
Duke Energy Florida, LLC 1.75% 6/15/2030   9,021    7,349 
Duke Energy Florida, LLC 3.00% 12/15/2051   8,684    5,964 
Duke Energy Florida, LLC 5.95% 11/15/2052   2,500    2,729 
Duke Energy Ohio, Inc. 2.125% 6/1/2030   5,250    4,361 
Duke Energy Progress, LLC 2.00% 8/15/2031   769    619 
Duke Energy Progress, LLC 2.50% 8/15/2050   4,854    3,020 
Duke Energy Progress, LLC 2.90% 8/15/2051   3,675    2,459 
Edison International 3.55% 11/15/2024   19,450    18,807 
Edison International 4.95% 4/15/2025   6,354    6,223 
Edison International 5.75% 6/15/2027   13,258    13,267 
Edison International 4.125% 3/15/2028   56,140    52,436 
Edison International 5.25% 11/15/2028   31,550    30,726 
Edison International 6.95% 11/15/2029   28,598    30,110 
Electricité de France SA 5.70% 5/23/20282   4,900    4,896 
Electricité de France SA 6.25% 5/23/20332   9,350    9,511 
Electricité de France SA 4.75% 10/13/20352   6,643    5,852 
Electricité de France SA 6.90% 5/23/20532   17,350    17,997 
Electricité de France SA 9.125% 12/31/2079 (5-year UST Yield Curve Rate T Note Constant Maturity + 5.411% on 6/15/2033)1,2   7,450    7,658 
Electricité de France SA 2.625% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 2.86% on 6/1/2028)1  EUR15,000    13,248 
Emera US Finance, LP 0.833% 6/15/2024  USD3,750    3,548 
Emera US Finance, LP 2.639% 6/15/2031   27,050    21,613 
Emera, Inc. 6.75% 6/15/2076 (3-month USD-LIBOR + 5.44% on 6/15/2026)1   2,350    2,281 
Empresas Publicas de Medellin ESP 4.375% 2/15/20312   3,000    2,251 
Enel Finance America, LLC 7.10% 10/14/20272   30,000    31,545 
Engie Energia Chile SA 3.40% 1/28/20302   7,054    5,883 
ENN Clean Energy International Investment, Ltd. 3.375% 5/12/20262   8,250    7,644 
ENN Energy Holdings, Ltd. 2.625% 9/17/20302   14,093    11,796 
Entergy Corp. 1.90% 6/15/2028   34,227    29,199 
Entergy Corp. 2.40% 6/15/2031   24,551    19,901 
Entergy Louisiana, LLC 3.12% 9/1/2027   4,780    4,415 
Entergy Louisiana, LLC 1.60% 12/15/2030   1,700    1,330 
Entergy Louisiana, LLC 2.35% 6/15/2032   4,469    3,589 
Entergy Louisiana, LLC 2.90% 3/15/2051   18,061    11,939 
Entergy Louisiana, LLC 4.75% 9/15/2052   6,431    5,911 
Entergy Texas, Inc. 1.75% 3/15/2031   3,450    2,727 
Exelon Corp. 4.10% 3/15/2052   1,725    1,394 
FirstEnergy Corp. 2.05% 3/1/2025   25,920    24,280 
FirstEnergy Corp. 1.60% 1/15/2026   54,542    49,507 
FirstEnergy Corp. 2.65% 3/1/2030   43,552    36,770 
FirstEnergy Corp. 2.25% 9/1/2030   117,043    95,089 
FirstEnergy Corp. 3.40% 3/1/2050   18,830    13,001 
FirstEnergy Corp., Series B, 4.15% 7/15/2027   91,819    87,295 
FirstEnergy Transmission, LLC 4.35% 1/15/20252   1,260    1,229 
FirstEnergy Transmission, LLC 2.866% 9/15/20282   74,825    65,926 
Florida Power & Light Company 5.05% 4/1/2028   10,600    10,689 
Florida Power & Light Company 4.40% 5/15/2028   12,000    11,782 
Florida Power & Light Company 2.45% 2/3/2032   20,210    17,018 
Florida Power & Light Company 5.10% 4/1/2033   18,200    18,476 
Florida Power & Light Company 4.80% 5/15/2033   7,868    7,816 

 

12 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Utilities (continued)          
Florida Power & Light Company 2.875% 12/4/2051  USD21,385   $14,810 
Florida Power & Light Company 5.30% 4/1/2053   5    5 
Georgia Power Co. 4.65% 5/16/2028   10,800    10,590 
Georgia Power Co. 4.95% 5/17/2033   31,800    31,406 
Georgia Power Co. 3.70% 1/30/2050   625    479 
Gulf Power Co. 3.30% 5/30/2027   10,000    9,428 
Jersey Central Power & Light Co. 4.30% 1/15/20262   4,480    4,336 
Jersey Central Power & Light Co. 2.75% 3/1/20322   7,574    6,255 
Korea East-West Power Co., Ltd. 1.75% 5/6/2025   1,500    1,399 
Korea East-West Power Co., Ltd. 3.60% 5/6/2025   1,500    1,444 
Metropolitan Edison Co. 4.30% 1/15/20292   5,000    4,733 
MidAmerican Energy Co. 3.10% 5/1/2027   2,273    2,126 
MidAmerican Energy Co. 3.65% 4/15/2029   2,300    2,138 
MidAmerican Energy Co. 3.65% 8/1/2048   1,449    1,118 
Mid-Atlantic Interstate Transmission, LLC 4.10% 5/15/20282   6,025    5,702 
Minejesa Capital BV 4.625% 8/10/2030   5,135    4,623 
Minejesa Capital BV 5.625% 8/10/2037   12,000    9,434 
Mississippi Power Co. 4.25% 3/15/2042   14,426    12,033 
Monongahela Power Co. 3.55% 5/15/20272   4,800    4,504 
NextEra Energy Capital Holdings, Inc. 6.051% 3/1/2025   4,050    4,067 
NextEra Energy Capital Holdings, Inc. 1.875% 1/15/2027   13,042    11,634 
NextEra Energy Capital Holdings, Inc. 4.625% 7/15/2027   428    419 
NextEra Energy Operating Partners, LP 4.25% 7/15/20242   4,715    4,616 
NextEra Energy Operating Partners, LP 3.875% 10/15/20262   3,535    3,288 
NiSource, Inc. 5.40% 6/30/2033   21,605    21,641 
NiSource, Inc. 5.00% 6/15/2052   24    22 
Northern States Power Co. 2.25% 4/1/2031   4,287    3,585 
Northern States Power Co. 2.90% 3/1/2050   124    86 
Northern States Power Co. 2.60% 6/1/2051   16,415    10,545 
Northern States Power Co. 3.20% 4/1/2052   526    378 
Northern States Power Co. 4.50% 6/1/2052   187    169 
Northern States Power Co. 5.10% 5/15/2053   15,248    15,029 
NRG Energy, Inc. 3.625% 2/15/20312   5,000    3,908 
NRG Energy, Inc. 3.875% 2/15/20322   3,000    2,315 
NTPC, Ltd. 3.75% 4/3/2024   3,000    2,950 
NTPC, Ltd. 4.375% 11/26/2024   3,000    2,930 
Oncor Electric Delivery Company, LLC 0.55% 10/1/2025   8,100    7,326 
Oncor Electric Delivery Company, LLC 4.55% 9/15/2032   1,239    1,203 
Oncor Electric Delivery Company, LLC 2.70% 11/15/2051   7,613    4,943 
Pacific Gas and Electric Co. 3.85% 11/15/2023   3,800    3,767 
Pacific Gas and Electric Co. 3.50% 6/15/2025   4,379    4,148 
Pacific Gas and Electric Co. 3.15% 1/1/2026   135,185    125,509 
Pacific Gas and Electric Co. 2.95% 3/1/2026   53,431    48,972 
Pacific Gas and Electric Co. 3.30% 3/15/2027   27,575    25,051 
Pacific Gas and Electric Co. 2.10% 8/1/2027   61,726    52,773 
Pacific Gas and Electric Co. 3.30% 12/1/2027   51,590    45,273 
Pacific Gas and Electric Co. 3.00% 6/15/2028   29,170    25,171 
Pacific Gas and Electric Co. 3.75% 7/1/2028   33,012    29,610 
Pacific Gas and Electric Co. 4.65% 8/1/2028   48,518    44,905 
Pacific Gas and Electric Co. 6.10% 1/15/2029   27,440    27,019 
Pacific Gas and Electric Co. 4.55% 7/1/2030   184,290    166,925 
Pacific Gas and Electric Co. 2.50% 2/1/2031   168,055    131,700 
Pacific Gas and Electric Co. 3.25% 6/1/2031   27,262    22,192 
Pacific Gas and Electric Co. 6.15% 1/15/2033   8,690    8,504 
Pacific Gas and Electric Co. 6.40% 6/15/2033   46,156    45,936 
Pacific Gas and Electric Co. 3.30% 8/1/2040   33,295    22,476 
Pacific Gas and Electric Co. 3.75% 8/15/2042   29,730    20,602 
Pacific Gas and Electric Co. 3.50% 8/1/2050   56,961    36,311 
Pacific Gas and Electric Co. 6.75% 1/15/2053   6,114    6,041 
PECO Energy Co. 2.80% 6/15/2050   10,000    6,634 
PG&E Corp. 5.00% 7/1/2028   9,485    8,712 
PG&E Corp. 5.25% 7/1/2030   7,450    6,684 
Progress Energy, Inc. 7.00% 10/30/2031   8,568    9,397 
Public Service Company of Colorado 3.70% 6/15/2028   114    108 
Public Service Company of Colorado 1.90% 1/15/2031   111    90 
Public Service Company of Colorado 1.875% 6/15/2031   33,485    26,726 
Public Service Company of Colorado 2.70% 1/15/2051   1,710    1,085 

 

The Bond Fund of America 13
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Utilities (continued)          
Public Service Company of Colorado 5.25% 4/1/2053  USD3,350   $3,222 
Public Service Electric and Gas Co. 0.95% 3/15/2026   17,350    15,662 
Public Service Electric and Gas Co. 3.65% 9/1/2028   2,978    2,793 
Public Service Electric and Gas Co. 3.20% 5/15/2029   6,374    5,777 
Public Service Electric and Gas Co. 2.45% 1/15/2030   4,830    4,171 
Public Service Electric and Gas Co. 1.90% 8/15/2031   4,425    3,559 
Public Service Electric and Gas Co. 3.10% 3/15/2032   30,715    26,873 
Public Service Electric and Gas Co. 4.90% 12/15/2032   491    491 
Public Service Electric and Gas Co. 3.20% 8/1/2049   2,475    1,834 
Public Service Electric and Gas Co. 3.15% 1/1/2050   15,000    10,950 
Public Service Electric and Gas Co. 2.05% 8/1/2050   16,000    9,444 
San Diego Gas & Electric Co. 3.32% 4/15/2050   2,025    1,452 
Southern California Edison Co. 1.10% 4/1/2024   28,861    27,870 
Southern California Edison Co. 1.20% 2/1/2026   20,000    17,875 
Southern California Edison Co. 4.90% 6/1/2026   10,000    9,863 
Southern California Edison Co. 4.70% 6/1/2027   25,265    24,855 
Southern California Edison Co. 5.85% 11/1/2027   7,531    7,707 
Southern California Edison Co. 3.65% 3/1/2028   19,403    18,124 
Southern California Edison Co. 5.30% 3/1/2028   1,500    1,501 
Southern California Edison Co. 4.20% 3/1/2029   28,275    26,900 
Southern California Edison Co. 2.85% 8/1/2029   73,313    64,129 
Southern California Edison Co. 2.25% 6/1/2030   17,751    14,858 
Southern California Edison Co. 2.50% 6/1/2031   24,738    20,591 
Southern California Edison Co. 2.75% 2/1/2032   20,006    16,750 
Southern California Edison Co. 6.00% 1/15/2034   3,039    3,150 
Southern California Edison Co. 5.75% 4/1/2035   6,666    6,780 
Southern California Edison Co. 5.35% 7/15/2035   30,475    29,825 
Southern California Edison Co. 5.625% 2/1/2036   5,649    5,603 
Southern California Edison Co. 5.55% 1/15/2037   6,946    6,781 
Southern California Edison Co. 5.95% 2/1/2038   12,088    12,448 
Southern California Edison Co. 4.50% 9/1/2040   20,920    18,279 
Southern California Edison Co. 3.60% 2/1/2045   12,979    9,566 
Southern California Edison Co. 4.00% 4/1/2047   3,524    2,803 
Southern California Edison Co. 4.125% 3/1/2048   1,600    1,300 
Southern California Edison Co. 3.65% 2/1/2050   18,994    14,154 
Southern California Edison Co. 2.95% 2/1/2051   24,804    16,278 
Southern California Edison Co. 3.65% 6/1/2051   936    696 
Southern California Edison Co. 3.45% 2/1/2052   3,176    2,277 
Southern California Gas Company 2.55% 2/1/2030   6,775    5,831 
Southwestern Electric Power Co. 1.65% 3/15/2026   12,675    11,465 
Southwestern Electric Power Co. 3.25% 11/1/2051   12,598    8,473 
State Grid Overseas Investment (2014), Ltd. 4.125% 5/7/2024   3,070    3,031 
Talen Energy Supply, LLC 8.625% 6/1/20302   14,808    15,340 
The Cleveland Electric Illuminating Co. 3.50% 4/1/20282   15,958    14,639 
The Cleveland Electric Illuminating Co. 4.55% 11/15/20302   5,500    5,200 
The Connecticut Light and Power Co. 3.20% 3/15/2027   1,866    1,758 
The Connecticut Light and Power Co. 2.05% 7/1/2031   12,036    9,809 
TNB Global Ventures Capital Bhd 4.851% 11/1/2028   4,000    3,937 
Union Electric Co. 2.15% 3/15/2032   12,550    10,057 
Union Electric Co. 2.625% 3/15/2051   132    85 
Union Electric Co. 3.90% 4/1/2052   7,318    5,983 
Virginia Electric & Power 2.95% 11/15/2026   3,000    2,783 
Virginia Electric & Power 2.875% 7/15/2029   1,820    1,617 
Virginia Electric & Power 2.30% 11/15/2031   9,089    7,382 
Virginia Electric & Power 2.40% 3/30/2032   7,258    5,925 
Virginia Electric & Power 2.45% 12/15/2050   6,129    3,678 
Vistra Operations Co., LLC 3.55% 7/15/20242   8,000    7,729 
Vistra Operations Co., LLC 5.00% 7/31/20272   1,000    937 
WEC Energy Group, Inc. 4.75% 1/9/2026   5,000    4,927 
WEC Energy Group, Inc. 5.15% 10/1/2027   18,800    18,785 
WEC Energy Group, Inc. 2.20% 12/15/2028   5,400    4,650 
Wisconsin Power and Light Co. 1.95% 9/16/2031   15,450    12,286 
Wisconsin Power and Light Co. 3.95% 9/1/2032   1,276    1,179 
Wisconsin Power and Light Co. 3.65% 4/1/2050   2,675    2,031 
Xcel Energy, Inc. 3.35% 12/1/2026   10,439    9,800 
Xcel Energy, Inc. 1.75% 3/15/2027   11,088    9,828 
Xcel Energy, Inc. 2.60% 12/1/2029   23,362    19,979 

 

14 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Utilities (continued)          
Xcel Energy, Inc. 2.35% 11/15/2031  USD30,760   $24,493 
Xcel Energy, Inc. 4.60% 6/1/2032   25,543    24,137 
Xcel Energy, Inc. 3.50% 12/1/2049   14,159    10,287 
         3,233,725 
           
Health care 3.38%          
AbbVie, Inc. 2.60% 11/21/2024   30,200    28,991 
AbbVie, Inc. 2.95% 11/21/2026   16,395    15,324 
AbbVie, Inc. 3.20% 11/21/2029   4,409    3,990 
AbbVie, Inc. 4.25% 11/21/2049   202    174 
AmerisourceBergen Corp. 2.70% 3/15/2031   17,987    15,301 
Amgen, Inc. 5.507% 3/2/2026   3,000    2,995 
Amgen, Inc. 5.15% 3/2/2028   35,867    35,860 
Amgen, Inc. 3.00% 2/22/2029   3,098    2,799 
Amgen, Inc. 4.05% 8/18/2029   31,879    30,247 
Amgen, Inc. 2.45% 2/21/2030   18,829    16,154 
Amgen, Inc. 5.25% 3/2/2030   16,187    16,232 
Amgen, Inc. 2.30% 2/25/2031   5,000    4,157 
Amgen, Inc. 4.20% 3/1/2033   36,903    34,462 
Amgen, Inc. 5.25% 3/2/2033   55,525    55,622 
Amgen, Inc. 5.60% 3/2/2043   17,950    18,017 
Amgen, Inc. 3.375% 2/21/2050   122    89 
Amgen, Inc. 4.875% 3/1/2053   15,308    14,095 
Amgen, Inc. 5.65% 3/2/2053   38,294    38,808 
Amgen, Inc. 5.75% 3/2/2063   22,800    23,147 
AstraZeneca Finance, LLC 1.75% 5/28/2028   4,450    3,858 
AstraZeneca Finance, LLC 4.90% 3/3/2030   12,380    12,411 
AstraZeneca Finance, LLC 2.25% 5/28/2031   6,852    5,785 
AstraZeneca Finance, LLC 4.875% 3/3/2033   17,730    17,992 
AstraZeneca PLC 3.50% 8/17/2023   14,500    14,465 
AstraZeneca PLC 3.375% 11/16/2025   20,139    19,370 
AstraZeneca PLC 0.70% 4/8/2026   6,589    5,889 
AstraZeneca PLC 4.00% 1/17/2029   2,027    1,956 
AstraZeneca PLC 1.375% 8/6/2030   17,516    14,101 
AstraZeneca PLC 3.00% 5/28/2051   3,294    2,446 
Avantor Funding, Inc. 4.625% 7/15/20282   6,320    5,864 
Bausch Health Companies, Inc. 5.50% 11/1/20252   17,750    15,708 
Bausch Health Companies, Inc. 4.875% 6/1/20282   8,125    4,846 
Baxter International, Inc. 2.272% 12/1/2028   3,250    2,787 
Baxter International, Inc. 2.539% 2/1/2032   37,704    30,563 
Baxter International, Inc. 3.132% 12/1/2051   2,284    1,509 
Bayer US Finance II, LLC 3.875% 12/15/20232   11,650    11,539 
Bayer US Finance II, LLC 4.375% 12/15/20282   4,250    4,034 
Becton, Dickinson and Company 3.363% 6/6/2024   8,545    8,362 
Becton, Dickinson and Company 4.298% 8/22/2032   6,700    6,360 
Boston Scientific Corp. 3.45% 3/1/2024   875    861 
Boston Scientific Corp. 2.65% 6/1/2030   41,291    36,003 
Boston Scientific Corp. 4.70% 3/1/2049   340    319 
Bristol-Myers Squibb Co. 2.90% 7/26/2024   9,095    8,860 
Bristol-Myers Squibb Co. 3.20% 6/15/2026   7,768    7,437 
Bristol-Myers Squibb Co. 3.40% 7/26/2029   2,197    2,042 
Catalent Pharma Solutions, Inc. 3.50% 4/1/20302   16,500    13,381 
Centene Corp. 4.25% 12/15/2027   58,085    54,362 
Centene Corp. 2.45% 7/15/2028   82,808    70,861 
Centene Corp. 4.625% 12/15/2029   42,335    39,005 
Centene Corp. 3.375% 2/15/2030   45,137    38,833 
Centene Corp. 3.00% 10/15/2030   23,055    19,234 
Centene Corp. 2.50% 3/1/2031   71,209    56,858 
Centene Corp. 2.625% 8/1/2031   14,110    11,263 
Charles River Laboratories International, Inc. 3.75% 3/15/20292   4,335    3,819 
CHS / Community Health Systems, Inc. 4.75% 2/15/20312   6,000    4,541 
CVS Health Corp. 1.30% 8/21/2027   10,000    8,611 
CVS Health Corp. 3.25% 8/15/2029   10,362    9,311 
CVS Health Corp. 5.125% 2/21/2030   12,000    11,925 
CVS Health Corp. 1.75% 8/21/2030   5,660    4,520 
CVS Health Corp. 5.25% 1/30/2031   7,000    6,980 
CVS Health Corp. 1.875% 2/28/2031   13,185    10,480 

 

The Bond Fund of America 15
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Health care (continued)          
CVS Health Corp. 5.25% 2/21/2033  USD14,789   $14,738 
CVS Health Corp. 5.30% 6/1/2033   17,469    17,450 
CVS Health Corp. 5.05% 3/25/2048   1,707    1,575 
CVS Health Corp. 4.25% 4/1/2050   8,451    7,007 
CVS Health Corp. 5.625% 2/21/2053   6,250    6,218 
CVS Health Corp. 5.875% 6/1/2053   4,944    5,074 
CVS Health Corp. 6.00% 6/1/2063   11,135    11,467 
Elevance Health, Inc. 3.50% 8/15/2024   9,349    9,111 
Elevance Health, Inc. 2.375% 1/15/2025   1,534    1,459 
Elevance Health, Inc. 4.10% 5/15/2032   31,973    29,818 
Elevance Health, Inc. 4.75% 2/15/2033   7,823    7,601 
Elevance Health, Inc. 4.55% 5/15/2052   8,831    7,899 
Elevance Health, Inc. 5.125% 2/15/2053   2,910    2,824 
Eli Lilly and Co. 3.375% 3/15/2029   9,000    8,461 
Eli Lilly and Co. 4.70% 2/27/2033   38,455    38,974 
Eli Lilly and Co. 4.875% 2/27/2053   9,163    9,419 
Eli Lilly and Co. 4.95% 2/27/2063   916    936 
EMD Finance, LLC 3.25% 3/19/20252   16,185    15,520 
Fortrea Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.75%) 5.05% 6/30/20303,7   2,720    2,723 
GE HealthCare Technologies, Inc. 5.65% 11/15/2027   33,699    34,126 
GE HealthCare Technologies, Inc. 5.857% 3/15/2030   7,880    8,092 
GE HealthCare Technologies, Inc. 5.905% 11/22/2032   52,792    55,253 
GE HealthCare Technologies, Inc. 6.377% 11/22/2052   2,650    2,951 
Gilead Sciences, Inc. 2.80% 10/1/2050   65    44 
GlaxoSmithKline Capital, Inc. 3.625% 5/15/2025   11,425    11,111 
HCA, Inc. 5.875% 2/15/2026   4,700    4,704 
HCA, Inc. 5.20% 6/1/2028   30,000    29,777 
HCA, Inc. 5.875% 2/1/2029   7,130    7,180 
HCA, Inc. 3.375% 3/15/20292   401    357 
HCA, Inc. 4.125% 6/15/2029   2,825    2,616 
HCA, Inc. 3.50% 9/1/2030   5,225    4,583 
HCA, Inc. 2.375% 7/15/2031   2,704    2,164 
HCA, Inc. 3.625% 3/15/20322   13,278    11,531 
HCA, Inc. 5.25% 6/15/2049   8,300    7,497 
HCA, Inc. 4.625% 3/15/20522   323    266 
Humana, Inc. 3.70% 3/23/2029   15,704    14,392 
IQVIA, Inc. 5.00% 10/15/20262   5,750    5,557 
Johnson & Johnson 0.95% 9/1/2027   6,000    5,248 
Johnson & Johnson 1.30% 9/1/2030   28,696    23,584 
Johnson & Johnson 2.10% 9/1/2040   4,000    2,821 
Johnson & Johnson 2.25% 9/1/2050   11,000    7,297 
Kaiser Foundation Hospitals 2.81% 6/1/2041   701    516 
Laboratory Corporation of America Holdings 1.55% 6/1/2026   4,555    4,071 
Medtronic Global Holdings S.C.A. 4.50% 3/30/2033   10,500    10,295 
Merck & Co., Inc. 2.75% 2/10/2025   34,000    32,742 
Merck & Co., Inc. 1.70% 6/10/2027   18,478    16,563 
Merck & Co., Inc. 1.45% 6/24/2030   20,106    16,405 
Merck & Co., Inc. 4.90% 5/17/2044   2,749    2,758 
Merck & Co., Inc. 2.75% 12/10/2051   10,000    6,908 
Merck & Co., Inc. 5.00% 5/17/2053   6,482    6,572 
Merck & Co., Inc. 5.15% 5/17/2063   7,855    8,030 
Molina Healthcare, Inc. 4.375% 6/15/20282   2,125    1,961 
Molina Healthcare, Inc. 3.875% 11/15/20302   2,665    2,292 
Molina Healthcare, Inc. 3.875% 5/15/20322   15,500    13,015 
Novartis Capital Corp. 1.75% 2/14/2025   1,167    1,107 
Novartis Capital Corp. 2.00% 2/14/2027   6,000    5,501 
Novartis Capital Corp. 2.20% 8/14/2030   22,078    19,100 
Pfizer Investment Enterprises Pte., Ltd. 4.45% 5/19/2028   11,750    11,554 
Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033   32,653    32,543 
Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053   27,222    28,324 
Pfizer, Inc. 2.95% 3/15/2024   2,150    2,112 
Pfizer, Inc. 3.45% 3/15/2029   140    132 
Pfizer, Inc. 1.70% 5/28/2030   690    573 
Regeneron Pharmaceuticals, Inc. 1.75% 9/15/2030   17,136    13,667 
Roche Holdings, Inc. 1.93% 12/13/20282   28,439    24,710 
Roche Holdings, Inc. 2.076% 12/13/20312   101,540    83,716 

 

16 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Health care (continued)          
Roche Holdings, Inc. 2.607% 12/13/20512  USD320   $217 
Shire Acquisitions Investments Ireland DAC 2.875% 9/23/2023   4,486    4,457 
Shire Acquisitions Investments Ireland DAC 3.20% 9/23/2026   23,317    21,902 
Summa Health 3.511% 11/15/2051   187    133 
Syneos Health, Inc. 3.625% 1/15/20292   2,315    2,266 
Takeda Pharmaceutical Co., Ltd. 4.40% 11/26/2023   10,926    10,866 
Takeda Pharmaceutical Co., Ltd. 5.00% 11/26/2028   7,500    7,460 
Tenet Healthcare Corp. 4.875% 1/1/2026   5,535    5,397 
Tenet Healthcare Corp. 5.125% 11/1/2027   4,565    4,363 
Tenet Healthcare Corp. 6.125% 6/15/2030   4,000    3,948 
Tenet Healthcare Corp. 6.75% 5/15/20312   10,000    10,037 
Teva Pharmaceutical Finance Co., LLC 6.15% 2/1/2036   11,690    10,405 
Teva Pharmaceutical Finance Netherlands III BV 2.80% 7/21/2023   2,539    2,536 
Teva Pharmaceutical Finance Netherlands III BV 6.00% 4/15/2024   74,546    74,128 
Teva Pharmaceutical Finance Netherlands III BV 7.125% 1/31/2025   66,000    66,951 
Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026   147,495    132,348 
Teva Pharmaceutical Finance Netherlands III BV 4.75% 5/9/2027   25,870    23,964 
Teva Pharmaceutical Finance Netherlands III BV 6.75% 3/1/2028   127,679    125,908 
Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029   20,815    18,903 
Teva Pharmaceutical Finance Netherlands III BV 4.10% 10/1/2046   173,286    114,153 
The Cigna Group 2.375% 3/15/2031   2,853    2,393 
Thermo Fisher Scientific, Inc. 4.80% 11/21/2027   12,000    12,061 
Thermo Fisher Scientific, Inc. 4.95% 11/21/2032   4,856    4,946 
UnitedHealth Group, Inc. 3.50% 2/15/2024   6,860    6,782 
UnitedHealth Group, Inc. 2.375% 8/15/2024   7,903    7,640 
UnitedHealth Group, Inc. 3.75% 7/15/2025   5,900    5,745 
UnitedHealth Group, Inc. 3.70% 12/15/2025   15,430    14,907 
UnitedHealth Group, Inc. 5.25% 2/15/2028   3,011    3,072 
UnitedHealth Group, Inc. 4.00% 5/15/2029   14,165    13,547 
UnitedHealth Group, Inc. 2.875% 8/15/2029   1,172    1,054 
UnitedHealth Group, Inc. 2.00% 5/15/2030   13,538    11,403 
UnitedHealth Group, Inc. 4.20% 5/15/2032   14,062    13,430 
UnitedHealth Group, Inc. 5.35% 2/15/2033   5,984    6,222 
UnitedHealth Group, Inc. 3.05% 5/15/2041   8,000    6,191 
UnitedHealth Group, Inc. 4.25% 6/15/2048   3,314    2,925 
UnitedHealth Group, Inc. 4.45% 12/15/2048   2,015    1,838 
UnitedHealth Group, Inc. 3.70% 8/15/2049   6,795    5,465 
UnitedHealth Group, Inc. 2.90% 5/15/2050   9,116    6,362 
UnitedHealth Group, Inc. 3.25% 5/15/2051   5,865    4,381 
UnitedHealth Group, Inc. 4.75% 5/15/2052   8,835    8,389 
UnitedHealth Group, Inc. 5.875% 2/15/2053   5,910    6,571 
UnitedHealth Group, Inc. 4.95% 5/15/2062   225    217 
UnitedHealth Group, Inc. 6.05% 2/15/2063   4,565    5,167 
Zoetis, Inc. 5.60% 11/16/2032   15,969    16,698 
         2,558,155 
           
Consumer discretionary 2.85%          
Alibaba Group Holding, Ltd. 2.125% 2/9/2031   5,000    4,074 
Alibaba Group Holding, Ltd. 2.70% 2/9/2041   6,206    4,150 
Allied Universal Holdco, LLC 4.625% 6/1/20282   2,105    1,784 
Allwyn Entertainment Financing (UK) PLC 7.875% 4/30/20292   2,471    2,512 
Amazon.com, Inc. 1.65% 5/12/2028   25,000    21,849 
Amazon.com, Inc. 3.45% 4/13/2029   3,434    3,236 
Amazon.com, Inc. 1.50% 6/3/2030   6,278    5,165 
Amazon.com, Inc. 2.10% 5/12/2031   25,000    21,036 
Amazon.com, Inc. 3.60% 4/13/2032   4,050    3,778 
Amazon.com, Inc. 4.70% 12/1/2032   14,370    14,495 
Amazon.com, Inc. 2.875% 5/12/2041   5,827    4,499 
Amazon.com, Inc. 3.10% 5/12/2051   7,293    5,448 
American Honda Finance Corp. 1.20% 7/8/2025   10,182    9,375 
Atlas LuxCo 4 SARL 4.625% 6/1/20282   1,610    1,356 
Bath & Body Works, Inc. 6.875% 11/1/2035   4,500    4,124 
Bath & Body Works, Inc. 6.75% 7/1/2036   4,800    4,325 
BMW US Capital, LLC 3.90% 4/9/20252   21,240    20,732 
BMW US Capital, LLC 3.45% 4/1/20272   1,300    1,234 
BMW US Capital, LLC 2.55% 4/1/20312   14,011    11,915 
BMW US Capital, LLC 3.70% 4/1/20322   6,842    6,313 

 

The Bond Fund of America 17
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Consumer discretionary (continued)          
Carnival Corp. 10.50% 2/1/20262  USD1,250   $1,315 
Carnival Corp. 4.00% 8/1/20282   1,000    887 
Daimler Trucks Finance North America, LLC 1.625% 12/13/20242   18,450    17,377 
Daimler Trucks Finance North America, LLC 3.50% 4/7/20252   11,275    10,852 
Daimler Trucks Finance North America, LLC 5.15% 1/16/20262   6,983    6,954 
Daimler Trucks Finance North America, LLC 2.00% 12/14/20262   10,500    9,380 
Daimler Trucks Finance North America, LLC 3.65% 4/7/20272   15,333    14,503 
Daimler Trucks Finance North America, LLC 5.125% 1/19/20282   3,772    3,741 
Daimler Trucks Finance North America, LLC 2.375% 12/14/20282   19,527    16,918 
Daimler Trucks Finance North America, LLC 2.50% 12/14/20312   62,028    50,426 
Falabella SA 3.75% 10/30/20272   8,295    7,443 
Ford Motor Co. 6.10% 8/19/2032   25,000    24,253 
Ford Motor Credit Co., LLC 3.81% 1/9/2024   3,935    3,882 
Ford Motor Credit Co., LLC 5.584% 3/18/2024   423    420 
Ford Motor Credit Co., LLC 3.664% 9/8/2024   5,756    5,567 
Ford Motor Credit Co., LLC 2.30% 2/10/2025   33,110    30,983 
Ford Motor Credit Co., LLC 5.125% 6/16/2025   1,000    973 
Ford Motor Credit Co., LLC 4.134% 8/4/2025   400    380 
Ford Motor Credit Co., LLC 4.542% 8/1/2026   18,000    16,936 
Ford Motor Credit Co., LLC 2.70% 8/10/2026   66,960    59,845 
Ford Motor Credit Co., LLC 4.271% 1/9/2027   41,650    38,596 
Ford Motor Credit Co., LLC 4.95% 5/28/2027   9,920    9,369 
Ford Motor Credit Co., LLC 4.125% 8/17/2027   19,805    18,103 
Ford Motor Credit Co., LLC 3.815% 11/2/2027   5,575    4,988 
Ford Motor Credit Co., LLC 7.35% 11/4/2027   93,397    95,603 
Ford Motor Credit Co., LLC 2.90% 2/16/2028   13,400    11,490 
Ford Motor Credit Co., LLC 2.90% 2/10/2029   65,800    54,515 
Ford Motor Credit Co., LLC 7.35% 3/6/2030   43,855    44,836 
Ford Motor Credit Co., LLC 3.625% 6/17/2031   1,500    1,231 
General Motors Company 6.125% 10/1/2025   28,548    28,754 
General Motors Company 6.80% 10/1/2027   17,934    18,641 
General Motors Company 5.40% 10/15/2029   16,960    16,550 
General Motors Company 5.60% 10/15/2032   16,000    15,487 
General Motors Company 5.40% 4/1/2048   4,000    3,441 
General Motors Financial Co., Inc. 3.80% 4/7/2025   10,383    10,019 
General Motors Financial Co., Inc. 2.75% 6/20/2025   24,892    23,461 
General Motors Financial Co., Inc. 1.25% 1/8/2026   6,450    5,757 
General Motors Financial Co., Inc. 1.50% 6/10/2026   58,525    51,744 
General Motors Financial Co., Inc. 4.00% 10/6/2026   7,285    6,912 
General Motors Financial Co., Inc. 2.35% 2/26/2027   42,397    37,817 
General Motors Financial Co., Inc. 2.70% 8/20/2027   37,175    32,945 
General Motors Financial Co., Inc. 2.40% 4/10/2028   12,928    11,155 
General Motors Financial Co., Inc. 5.80% 6/23/2028   19,000    18,937 
General Motors Financial Co., Inc. 2.40% 10/15/2028   40,580    34,387 
General Motors Financial Co., Inc. 4.30% 4/6/2029   13,600    12,490 
General Motors Financial Co., Inc. 3.60% 6/21/2030   1,735    1,501 
General Motors Financial Co., Inc. 2.35% 1/8/2031   32,503    25,482 
General Motors Financial Co., Inc. 2.70% 6/10/2031   27,854    22,234 
General Motors Financial Co., Inc. 6.40% 1/9/2033   18,000    18,308 
GOHL Capital, Ltd. 4.25% 1/24/2027   15,000    13,939 
Grand Canyon University 4.125% 10/1/2024   25,000    23,680 
Hanesbrands, Inc. 9.00% 2/15/20312   3,681    3,713 
Hilton Domestic Operating Co., Inc. 4.00% 5/1/20312   13,960    12,137 
Hilton Domestic Operating Co., Inc. 3.625% 2/15/20322   11,040    9,215 
Home Depot, Inc. 2.95% 6/15/2029   32,205    29,336 
Home Depot, Inc. 2.70% 4/15/2030   25,000    22,229 
Home Depot, Inc. 1.375% 3/15/2031   16,666    13,172 
Home Depot, Inc. 2.375% 3/15/2051   7,293    4,524 
Hyundai Capital America 1.25% 9/18/20232   18,902    18,724 
Hyundai Capital America 0.875% 6/14/20242   17,000    16,218 
Hyundai Capital America 1.00% 9/17/20242   15,600    14,678 
Hyundai Capital America 2.65% 2/10/20252   28,554    27,077 
Hyundai Capital America 5.875% 4/7/20252   10,000    10,001 
Hyundai Capital America 1.80% 10/15/20252   56,387    51,458 
Hyundai Capital America 1.30% 1/8/20262   17,000    15,219 
Hyundai Capital America 5.50% 3/30/20262   5,000    4,957 
Hyundai Capital America 1.50% 6/15/20262   33,915    30,052 

 

18 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Consumer discretionary (continued)          
Hyundai Capital America 1.65% 9/17/20262  USD36,910   $32,540 
Hyundai Capital America 3.00% 2/10/20272   19,717    17,989 
Hyundai Capital America 2.375% 10/15/20272   14,154    12,394 
Hyundai Capital America 1.80% 1/10/20282   15,611    13,173 
Hyundai Capital America 5.60% 3/30/20282   9,800    9,756 
Hyundai Capital America 2.00% 6/15/20282   36,819    30,984 
Hyundai Capital America 5.68% 6/26/20282   19,000    18,858 
Hyundai Capital America 2.10% 9/15/20282   14,290    11,989 
Hyundai Capital America 5.80% 4/1/20302   16,980    17,109 
Hyundai Capital America 5.70% 6/26/20302   11,395    11,327 
Hyundai Capital Services, Inc. 2.125% 4/24/20252   5,225    4,898 
Hyundai Capital Services, Inc. 1.25% 2/8/20262   6,570    5,863 
International Game Technology PLC 6.50% 2/15/20252   1,160    1,161 
International Game Technology PLC 4.125% 4/15/20262   2,115    2,010 
International Game Technology PLC 6.25% 1/15/20272   3,500    3,490 
International Game Technology PLC 5.25% 1/15/20292   6,940    6,580 
KB Home 6.875% 6/15/2027   5,000    5,079 
KIA Corp. 1.00% 4/16/2024   5,000    4,813 
KIA Corp. 2.375% 2/14/20252   9,995    9,480 
Lennar Corp. 4.50% 4/30/2024   3,015    2,990 
M.D.C. Holdings, Inc. 6.00% 1/15/2043   7,475    6,752 
Marriott International, Inc. 5.75% 5/1/2025   208    208 
Marriott International, Inc. 5.00% 10/15/2027   20,771    20,620 
Marriott International, Inc. 4.90% 4/15/2029   7,598    7,396 
Marriott International, Inc. 2.85% 4/15/2031   16,535    13,913 
Marriott International, Inc. 2.75% 10/15/2033   26,188    20,834 
McDonald’s Corp. 3.70% 1/30/2026   135    131 
McDonald’s Corp. 3.50% 3/1/2027   185    177 
McDonald’s Corp. 2.125% 3/1/2030   5,793    4,932 
McDonald’s Corp. 4.60% 9/9/2032   8,500    8,423 
McDonald’s Corp. 4.45% 9/1/2048   242    218 
McDonald’s Corp. 3.625% 9/1/2049   6,857    5,414 
McDonald’s Corp. 4.20% 4/1/2050   708    613 
McDonald’s Corp. 5.15% 9/9/2052   3,265    3,257 
Meituan 2.125% 10/28/20252   5,041    4,607 
Meituan 3.05% 10/28/20302   17,000    13,478 
Meituan 3.05% 10/28/2030   15,000    11,892 
Mercedes-Benz Finance North America, LLC 0.75% 3/1/20242   5,000    4,839 
Mercedes-Benz Finance North America, LLC 2.70% 6/14/20242   7,500    7,306 
Mercedes-Benz Finance North America, LLC 5.375% 11/26/20252   275    275 
MGM Resorts International 6.75% 5/1/2025   3,000    3,010 
NIKE, Inc. 2.40% 3/27/2025   8,656    8,282 
NIKE, Inc. 3.25% 3/27/2040   5,469    4,500 
Nissan Motor Acceptance Corp. 1.85% 9/16/20262   4,874    4,138 
Nissan Motor Acceptance Corp. 2.75% 3/9/20282   11,315    9,308 
Nissan Motor Acceptance Corp. 2.45% 9/15/20282   15,000    11,988 
Nissan Motor Co., Ltd. 3.043% 9/15/20232   8,756    8,695 
President and Fellows of Harvard College 2.517% 10/15/2050   5,500    3,682 
QVC, Inc. 4.85% 4/1/2024   11,050    10,815 
QVC, Inc. 4.45% 2/15/2025   1,500    1,327 
Royal Caribbean Cruises, Ltd. 11.50% 6/1/20252   1,796    1,907 
Sally Holdings, LLC 5.625% 12/1/2025   200    197 
Sands China, Ltd. 5.625% 8/8/2025   5,000    4,881 
Sands China, Ltd. 5.90% 8/8/2028   48,750    46,515 
St Engineering Rhq, Ltd. 1.50% 4/29/2025   5,000    4,662 
Starbucks Corp. 3.80% 8/15/2025   14,000    13,563 
Stellantis Finance US, Inc. 1.711% 1/29/20272   14,400    12,626 
Stellantis Finance US, Inc. 5.625% 1/12/20282   51,318    51,798 
Stellantis Finance US, Inc. 2.691% 9/15/20312   24,111    19,278 
Stellantis Finance US, Inc. 6.375% 9/12/20322   44,540    45,492 
Taylor Morrison Communities, Inc. 5.75% 1/15/20282   3,500    3,387 
The Morongo Band of Mission Indians 7.00% 10/1/20392   11,225    11,979 
Toyota Motor Corp. 0.681% 3/25/2024   6,731    6,499 
Toyota Motor Credit Corp. 1.90% 1/13/2027   2,568    2,320 
Toyota Motor Credit Corp. 1.15% 8/13/2027   6,086    5,265 
Toyota Motor Credit Corp. 1.90% 4/6/2028   3,802    3,333 
Toyota Motor Credit Corp. 4.45% 6/29/2029   616    605 

 

The Bond Fund of America 19
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Consumer discretionary (continued)          
Toyota Motor Credit Corp. 3.375% 4/1/2030  USD8,330   $7,669 
Toyota Motor Credit Corp. 4.55% 5/17/2030   11,800    11,519 
Travel + Leisure Co. 6.625% 7/31/20262   4,000    3,973 
Volkswagen Group of America Finance, LLC 3.35% 5/13/20252   21,089    20,210 
Volkswagen Group of America Finance, LLC 1.25% 11/24/20252   3,530    3,183 
Volkswagen Group of America Finance, LLC 1.625% 11/24/20272   16,375    14,027 
Wynn Resorts Finance, LLC 5.125% 10/1/20292   2,500    2,243 
ZF North America Capital, Inc. 7.125% 4/14/20302   9,500    9,672 
         2,159,833 
           
Communication services 2.81%          
América Móvil, SAB de CV 9.50% 1/27/2031  MXN117,330    6,792 
AT&T, Inc. 1.70% 3/25/2026  USD13,751    12,539 
AT&T, Inc. 2.30% 6/1/2027   11,896    10,705 
AT&T, Inc. 1.65% 2/1/2028   15,971    13,734 
AT&T, Inc. 4.35% 3/1/2029   14,011    13,465 
AT&T, Inc. 4.30% 2/15/2030   71,889    68,273 
AT&T, Inc. 2.75% 6/1/2031   58,116    49,055 
AT&T, Inc. 2.25% 2/1/2032   32,537    25,854 
AT&T, Inc. 2.55% 12/1/2033   18,907    14,857 
AT&T, Inc. 5.40% 2/15/2034   20,076    20,120 
AT&T, Inc. 3.50% 9/15/2053   58,356    41,352 
Axiata SPV2 Berhad 2.163% 8/19/2030   4,883    4,152 
Bharti Airtel International (Netherlands) BV 5.35% 5/20/2024   3,000    2,981 
Bharti Airtel, Ltd. 4.375% 6/10/2025   3,000    2,917 
CCO Holdings, LLC 5.375% 6/1/20292   2,700    2,444 
CCO Holdings, LLC 4.75% 3/1/20302   9,665    8,273 
CCO Holdings, LLC 4.50% 8/15/20302   18,675    15,567 
CCO Holdings, LLC 4.75% 2/1/20322   8,000    6,532 
CCO Holdings, LLC 4.50% 5/1/2032   2,225    1,779 
CCO Holdings, LLC 4.25% 1/15/20342   21,825    16,517 
Charter Communications Operating, LLC 4.908% 7/23/2025   165    162 
Charter Communications Operating, LLC 2.25% 1/15/2029   7,734    6,444 
Charter Communications Operating, LLC 2.80% 4/1/2031   41,711    33,579 
Charter Communications Operating, LLC 2.30% 2/1/2032   13,963    10,578 
Charter Communications Operating, LLC 4.40% 4/1/2033   11,385    9,997 
Charter Communications Operating, LLC 6.484% 10/23/2045   6,850    6,444 
Charter Communications Operating, LLC 5.125% 7/1/2049   18,943    14,918 
Charter Communications Operating, LLC 4.80% 3/1/2050   5,000    3,777 
Charter Communications Operating, LLC 3.70% 4/1/2051   28,727    18,174 
Charter Communications Operating, LLC 3.90% 6/1/2052   2,900    1,900 
Charter Communications Operating, LLC 5.25% 4/1/2053   5,000    4,041 
Comcast Corp. 4.55% 1/15/2029   11,600    11,397 
Comcast Corp. 2.65% 2/1/2030   20,000    17,506 
Comcast Corp. 1.95% 1/15/2031   7,446    6,095 
Comcast Corp. 1.50% 2/15/2031   1,000    796 
Comcast Corp. 4.80% 5/15/2033   47,328    46,853 
Comcast Corp. 3.75% 4/1/2040   8,930    7,530 
Comcast Corp. 2.80% 1/15/2051   3,000    1,988 
Comcast Corp. 2.887% 11/1/2051   8,473    5,686 
Comcast Corp. 5.35% 5/15/2053   36,128    36,715 
Comcast Corp. 5.50% 5/15/2064   1,800    1,827 
CSC Holdings, LLC 5.375% 2/1/20282   4,850    3,904 
Diamond Sports Group, LLC 5.375% 8/15/20262,4   3,500    120 
DIRECTV Financing, LLC 5.875% 8/15/20272   8,750    7,935 
DISH Network Corp. 11.75% 11/15/20272   14,925    14,582 
Frontier Communications Holdings, LLC 6.00% 1/15/20302   2,000    1,473 
Gray Escrow II, Inc. 5.375% 11/15/20312   5,950    3,950 
Gray Television, Inc. 5.875% 7/15/20262   1,682    1,510 
Gray Television, Inc. 4.75% 10/15/20302   8,418    5,718 
iHeartCommunications, Inc. 6.375% 5/1/2026   8,475    7,120 
Level 3 Financing, Inc. 3.75% 7/15/20292   3,053    1,842 
Level 3 Financing, Inc. 3.875% 11/15/20292   6,900    5,498 
Lumen Technologies, Inc. 4.00% 2/15/20272   5,775    4,310 
Meta Platforms, Inc. 3.85% 8/15/2032   16,390    15,232 
Meta Platforms, Inc. 4.45% 8/15/2052   25,000    21,755 
Midas OpCo Holdings, LLC 5.625% 8/15/20292   3,500    2,999 

 

20 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Communication services (continued)          
Netflix, Inc. 4.875% 4/15/2028  USD106,571   $105,498 
Netflix, Inc. 5.875% 11/15/2028   218,460    226,172 
Netflix, Inc. 6.375% 5/15/2029   33,092    35,041 
Netflix, Inc. 5.375% 11/15/20292   111,252    111,770 
Netflix, Inc. 4.875% 6/15/20302   100,190    98,687 
News Corp. 3.875% 5/15/20292   6,000    5,273 
News Corp. 5.125% 2/15/20322   8,175    7,467 
SBA Tower Trust 1.631% 11/15/20262   62,772    54,222 
Scripps Escrow II, Inc. 3.875% 1/15/20292   7,921    6,403 
Singapore Telecommunications, Ltd. 7.375% 12/1/2031   5,000    5,878 
Sirius XM Radio, Inc. 4.00% 7/15/20282   4,300    3,741 
Sirius XM Radio, Inc. 4.125% 7/1/20302   8,000    6,540 
Sirius XM Radio, Inc. 3.875% 9/1/20312   5,000    3,871 
SK Broadband Co., Ltd. 3.875% 8/13/2023   10,000    9,977 
Sprint Capital Corp. 6.875% 11/15/2028   5,000    5,304 
Sprint Capital Corp. 8.75% 3/15/2032   4,500    5,444 
Sprint Corp. 7.875% 9/15/2023   6,163    6,183 
Sprint Corp. 7.125% 6/15/2024   10,010    10,109 
Sprint Corp. 7.625% 2/15/2025   39,000    39,872 
TEGNA, Inc. 5.00% 9/15/2029   8,500    7,341 
Tencent Holdings, Ltd. 3.28% 4/11/20242   15,000    14,715 
Tencent Holdings, Ltd. 3.28% 4/11/2024   2,000    1,962 
Tencent Holdings, Ltd. 3.595% 1/19/2028   7,500    6,984 
Tencent Holdings, Ltd. 2.39% 6/3/20302   20,000    16,626 
Tencent Holdings, Ltd. 3.68% 4/22/2041   794    615 
Tencent Holdings, Ltd. 3.24% 6/3/20502   9,870    6,484 
Tencent Holdings, Ltd. 3.29% 6/3/20602   10,000    6,209 
T-Mobile USA, Inc. 3.50% 4/15/2025   6,550    6,301 
T-Mobile USA, Inc. 1.50% 2/15/2026   4,900    4,429 
T-Mobile USA, Inc. 2.25% 2/15/2026   13,438    12,360 
T-Mobile USA, Inc. 2.625% 4/15/2026   61,189    56,762 
T-Mobile USA, Inc. 3.75% 4/15/2027   21,300    20,173 
T-Mobile USA, Inc. 4.75% 2/1/2028   4,566    4,440 
T-Mobile USA, Inc. 2.05% 2/15/2028   221    192 
T-Mobile USA, Inc. 4.80% 7/15/2028   1,270    1,244 
T-Mobile USA, Inc. 2.625% 2/15/2029   17,611    15,311 
T-Mobile USA, Inc. 2.40% 3/15/2029   6,204    5,336 
T-Mobile USA, Inc. 3.375% 4/15/2029   8,000    7,232 
T-Mobile USA, Inc. 3.875% 4/15/2030   18,318    16,887 
T-Mobile USA, Inc. 2.55% 2/15/2031   20,700    17,213 
T-Mobile USA, Inc. 2.875% 2/15/2031   38,764    32,801 
T-Mobile USA, Inc. 3.50% 4/15/2031   10,000    8,834 
T-Mobile USA, Inc. 2.70% 3/15/2032   14,779    12,217 
T-Mobile USA, Inc. 5.05% 7/15/2033   15,402    15,130 
T-Mobile USA, Inc. 3.00% 2/15/2041   10,790    7,895 
T-Mobile USA, Inc. 3.30% 2/15/2051   5,951    4,180 
T-Mobile USA, Inc. 3.40% 10/15/2052   45,302    32,375 
T-Mobile USA, Inc. 5.75% 1/15/2054   165    171 
Verizon Communications, Inc. 3.00% 3/22/2027   1,287    1,201 
Verizon Communications, Inc. 4.329% 9/21/2028   13,420    12,944 
Verizon Communications, Inc. 3.875% 2/8/2029   2,071    1,943 
Verizon Communications, Inc. 4.016% 12/3/2029   1,981    1,856 
Verizon Communications, Inc. 1.68% 10/30/2030   17,479    13,811 
Verizon Communications, Inc. 1.75% 1/20/2031   22,494    17,755 
Verizon Communications, Inc. 2.55% 3/21/2031   333    278 
Verizon Communications, Inc. 2.355% 3/15/2032   330    266 
Verizon Communications, Inc. 2.65% 11/20/2040   31,001    21,578 
Verizon Communications, Inc. 3.40% 3/22/2041   6,600    5,098 
Verizon Communications, Inc. 2.85% 9/3/2041   10,183    7,251 
Verizon Communications, Inc. 2.875% 11/20/2050   35,872    23,402 
Verizon Communications, Inc. 3.55% 3/22/2051   10,300    7,689 
Verizon Communications, Inc. 3.875% 3/1/2052   10,000    7,895 
Videotron, Ltd. 5.375% 6/15/20242   3,100    3,071 
Virgin Media Secured Finance PLC 5.50% 5/15/20292   5,000    4,527 
Virgin Media Secured Finance PLC 4.50% 8/15/20302   500    420 
VMED O2 UK Financing I PLC 4.25% 1/31/20312   5,475    4,432 
Vodafone Group PLC 4.25% 9/17/2050   14,575    11,710 

 

The Bond Fund of America 21
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Communication services (continued)          
VZ Secured Financing BV 5.00% 1/15/20322  USD2,000   $1,613 
WarnerMedia Holdings, Inc. 3.428% 3/15/2024   41,644    40,898 
WarnerMedia Holdings, Inc. 3.638% 3/15/2025   19,418    18,740 
WarnerMedia Holdings, Inc. 3.755% 3/15/2027   78,574    73,323 
WarnerMedia Holdings, Inc. 4.054% 3/15/2029   8,369    7,654 
WarnerMedia Holdings, Inc. 4.279% 3/15/2032   21,107    18,729 
WarnerMedia Holdings, Inc. 5.05% 3/15/2042   583    492 
WarnerMedia Holdings, Inc. 5.141% 3/15/2052   21,872    17,824 
WarnerMedia Holdings, Inc. 5.391% 3/15/2062   494    403 
WMG Acquisition Corp. 3.75% 12/1/20292   5,000    4,327 
WMG Acquisition Corp. 3.00% 2/15/20312   12,500    10,123 
Ziggo BV 4.875% 1/15/20302   6,000    4,985 
ZipRecruiter, Inc. 5.00% 1/15/20302   13,375    11,402 
         2,129,774 
           
Industrials 2.59%          
Adani Ports & Special Economic Zone, Ltd. 3.375% 7/24/2024   3,000    2,867 
Adani Ports & Special Economic Zone, Ltd. 4.00% 7/30/2027   3,000    2,544 
Adani Ports & Special Economic Zone, Ltd. 4.375% 7/3/2029   2,000    1,622 
ADT Security Corp. 4.125% 8/1/20292   3,000    2,595 
ADT Security Corp. 4.875% 7/15/20322   3,000    2,569 
Air Lease Corp. 0.80% 8/18/2024   17,900    16,868 
Air Lease Corp. 2.875% 1/15/2026   25,208    23,334 
Air Lease Corp. 2.20% 1/15/2027   21,674    19,237 
Air Lease Corp. 5.30% 2/1/2028   26,000    25,536 
Air Lease Corp. 2.10% 9/1/2028   13,775    11,454 
Allison Transmission, Inc. 3.75% 1/30/20312   4,000    3,383 
Avolon Holdings Funding, Ltd. 3.95% 7/1/20242   36,469    35,390 
Avolon Holdings Funding, Ltd. 2.125% 2/21/20262   35,436    31,520 
Avolon Holdings Funding, Ltd. 4.25% 4/15/20262   9,306    8,676 
Avolon Holdings Funding, Ltd. 4.375% 5/1/20262   4,425    4,138 
Avolon Holdings Funding, Ltd. 3.25% 2/15/20272   16,000    14,269 
Avolon Holdings Funding, Ltd. 2.528% 11/18/20272   2,795    2,359 
Avolon Holdings Funding, Ltd. 2.75% 2/21/20282   20,000    16,870 
BOC Aviation, Ltd. 4.00% 1/25/2024   3,000    2,964 
Boeing Co. 1.95% 2/1/2024   2,850    2,786 
Boeing Co. 2.80% 3/1/2024   3,485    3,413 
Boeing Co. 4.875% 5/1/2025   93,189    91,896 
Boeing Co. 2.75% 2/1/2026   151,095    140,766 
Boeing Co. 2.196% 2/4/2026   109,362    100,419 
Boeing Co. 3.10% 5/1/2026   1,626    1,528 
Boeing Co. 2.70% 2/1/2027   11,304    10,338 
Boeing Co. 5.04% 5/1/2027   56,328    55,668 
Boeing Co. 3.25% 2/1/2028   105,979    97,374 
Boeing Co. 3.25% 3/1/2028   10,176    9,264 
Boeing Co. 5.15% 5/1/2030   145,909    144,596 
Boeing Co. 3.625% 2/1/2031   9,818    8,846 
Boeing Co. 3.60% 5/1/2034   6,790    5,783 
Boeing Co. 3.25% 2/1/2035   2,022    1,641 
Boeing Co. 3.50% 3/1/2039   545    415 
Boeing Co. 5.705% 5/1/2040   11,044    11,025 
Boeing Co. 3.90% 5/1/2049   8,665    6,631 
Boeing Co. 3.75% 2/1/2050   4,934    3,709 
Boeing Co. 5.805% 5/1/2050   68,100    67,909 
Boeing Co. 5.93% 5/1/2060   2,000    1,982 
Burlington Northern Santa Fe, LLC 3.05% 2/15/2051   7,293    5,182 
Burlington Northern Santa Fe, LLC 3.30% 9/15/2051   36,427    27,237 
Burlington Northern Santa Fe, LLC 2.875% 6/15/2052   1,425    976 
BWX Technologies, Inc. 4.125% 6/30/20282   1,675    1,530 
Canadian Pacific Railway Co. 1.75% 12/2/2026   12,512    11,250 
Canadian Pacific Railway Co. 3.10% 12/2/2051   39,192    27,856 
Carrier Global Corp. 2.242% 2/15/2025   1,029    974 
Carrier Global Corp. 2.493% 2/15/2027   1,332    1,215 
Carrier Global Corp. 2.722% 2/15/2030   15,767    13,584 
Carrier Global Corp. 3.377% 4/5/2040   15,500    11,911 
Carrier Global Corp. 3.577% 4/5/2050   3,000    2,220 

 

22 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Industrials (continued)          
CCCI Treasure, Ltd. 3.425% perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 4.998% on 2/21/2025)1  USD3,000   $2,884 
CITIC, Ltd. 2.875% 2/17/2027   1,250    1,158 
CK Hutchison International (19), Ltd. 3.25% 4/11/2024   5,000    4,908 
CK Hutchison International (20), Ltd. 3.375% 5/8/2050   3,200    2,428 
CK Hutchison International (23), Ltd. 4.75% 4/21/20282   9,430    9,330 
CK Hutchison International (23), Ltd. 4.75% 4/21/2028   7,500    7,420 
CK Hutchison International 19 II, Ltd. 3.375% 9/6/2049   1,800    1,380 
Clean Harbors, Inc. 4.875% 7/15/20272   1,100    1,054 
Clean Harbors, Inc. 5.125% 7/15/20292   10,000    9,478 
Clean Harbors, Inc. 6.375% 2/1/20312   808    814 
Competition Team Technologies, Ltd. 3.75% 3/12/2024   17,800    17,508 
Competition Team Technologies, Ltd. 4.25% 3/12/2029   3,000    2,813 
Covanta Holding Corp., Term Loan B, (3-month USD CME Term SOFR + 3.00%) 8.174% 11/30/20283,7   6,239    6,189 
Covanta Holding Corp., Term Loan C, (3-month USD CME Term SOFR + 3.00%) 8.30% 11/30/20283,7   549    544 
CSX Corp. 3.80% 3/1/2028   2,460    2,344 
CSX Corp. 4.25% 3/15/2029   4,277    4,144 
CSX Corp. 2.40% 2/15/2030   17,855    15,440 
CSX Corp. 4.10% 11/15/2032   43,875    41,537 
CSX Corp. 2.50% 5/15/2051   5,905    3,764 
CSX Corp. 4.50% 11/15/2052   43,800    39,615 
Delta Air Lines, Inc. 7.00% 5/1/20252   2,750    2,811 
Dianjian Haiyu, Ltd. 4.30% perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 5.451% on 6/20/2024)1   5,000    4,925 
Eaton Corp. 4.35% 5/18/2028   4,472    4,391 
Eaton Corp. 4.15% 3/15/2033   4,989    4,742 
Eaton Corp. 4.70% 8/23/2052   186    179 
ENA Master Trust 4.00% 5/19/20482   7,654    5,755 
Fortune Brands Innovations, Inc. 5.875% 6/1/2033   8,000    8,014 
General Dynamics Corp. 3.50% 5/15/2025   8,025    7,797 
General Dynamics Corp. 3.75% 5/15/2028   5,969    5,722 
General Dynamics Corp. 3.625% 4/1/2030   5,879    5,543 
General Dynamics Corp. 2.25% 6/1/2031   2,377    2,002 
Honeywell International, Inc. 2.30% 8/15/2024   3,387    3,275 
Honeywell International, Inc. 1.35% 6/1/2025   165    154 
Honeywell International, Inc. 2.70% 8/15/2029   7,083    6,309 
Honeywell International, Inc. 1.95% 6/1/2030   20,000    16,823 
Honeywell International, Inc. 5.00% 2/15/2033   7,500    7,652 
Howmet Aerospace, Inc. 5.95% 2/1/2037   29,000    29,558 
Hutchison Whampoa International (14), Ltd. 3.625% 10/31/2024   6,821    6,641 
Icahn Enterprises, LP 4.75% 9/15/2024   2,966    2,837 
Icahn Enterprises, LP 6.25% 5/15/2026   11,205    10,208 
Icahn Enterprises, LP 5.25% 5/15/2027   995    859 
Lima Metro Line 2 Finance, Ltd. 5.875% 7/5/20342   2,371    2,308 
Lima Metro Line 2 Finance, Ltd. 5.875% 7/5/2034   505    491 
Lima Metro Line 2 Finance, Ltd. 4.35% 4/5/20362   2,771    2,450 
Lima Metro Line 2 Finance, Ltd. 4.35% 4/5/2036   2,181    1,928 
Lockheed Martin Corp. 5.10% 11/15/2027   835    850 
Lockheed Martin Corp. 1.85% 6/15/2030   1,637    1,363 
Lockheed Martin Corp. 5.25% 1/15/2033   53,654    55,606 
Lockheed Martin Corp. 4.75% 2/15/2034   1,437    1,434 
Lockheed Martin Corp. 5.70% 11/15/2054   21,710    24,123 
Lockheed Martin Corp. 5.20% 2/15/2055   2,087    2,156 
Lockheed Martin Corp. 5.90% 11/15/2063   503    573 
Masco Corp. 1.50% 2/15/2028   795    677 
Masco Corp. 2.00% 2/15/2031   9,092    7,178 
Masco Corp. 3.125% 2/15/2051   1,575    994 
Mexico City Airport Trust 4.25% 10/31/2026   200    193 
Mexico City Airport Trust 3.875% 4/30/2028   11,400    10,760 
Mexico City Airport Trust 3.875% 4/30/20282   690    651 
Mexico City Airport Trust 5.50% 10/31/2046   3,106    2,681 
Mexico City Airport Trust 5.50% 7/31/2047   14,409    12,605 
Mexico City Airport Trust 5.50% 7/31/20472   2,485    2,174 
Mileage Plus Holdings, LLC 6.50% 6/20/20272   8,352    8,380 
MISC Capital Two (Labuan), Ltd. 3.75% 4/6/20272   16,872    15,800 

 

The Bond Fund of America 23
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Industrials (continued)          
MISC Capital Two (Labuan), Ltd. 3.75% 4/6/2027  USD5,000   $4,682 
Norfolk Southern Corp. 4.45% 3/1/2033   2,194    2,102 
Norfolk Southern Corp. 4.55% 6/1/2053   15,762    14,258 
Northrop Grumman Corp. 2.93% 1/15/2025   15,040    14,461 
Northrop Grumman Corp. 3.25% 1/15/2028   8,475    7,909 
Northrop Grumman Corp. 4.70% 3/15/2033   29,043    28,519 
Northrop Grumman Corp. 4.95% 3/15/2053   15,969    15,572 
Otis Worldwide Corp. 2.056% 4/5/2025   21,882    20,633 
Pitney Bowes, Inc. 6.875% 3/15/20272   6,000    4,449 
Prime Security Services Borrower, LLC 5.25% 4/15/20242   2,000    1,985 
Prime Security Services Borrower, LLC 5.75% 4/15/20262   2,000    1,965 
Prime Security Services Borrower, LLC 3.375% 8/31/20272   3,100    2,737 
Raytheon Technologies Corp. 3.65% 8/16/2023   464    463 
Raytheon Technologies Corp. 3.20% 3/15/2024   10,380    10,207 
Raytheon Technologies Corp. 3.95% 8/16/2025   17,415    17,070 
Raytheon Technologies Corp. 3.125% 5/4/2027   1,000    937 
Raytheon Technologies Corp. 4.125% 11/16/2028   6,320    6,091 
Raytheon Technologies Corp. 2.25% 7/1/2030   3,750    3,166 
Raytheon Technologies Corp. 1.90% 9/1/2031   10,321    8,247 
Raytheon Technologies Corp. 2.375% 3/15/2032   7,474    6,129 
Raytheon Technologies Corp. 5.15% 2/27/2033   22,242    22,556 
Raytheon Technologies Corp. 4.50% 6/1/2042   1,375    1,267 
Raytheon Technologies Corp. 2.82% 9/1/2051   3,750    2,522 
Raytheon Technologies Corp. 3.03% 3/15/2052   7,000    4,928 
Raytheon Technologies Corp. 5.375% 2/27/2053   1,194    1,241 
Republic Services, Inc. 2.50% 8/15/2024   7,000    6,755 
Republic Services, Inc. 4.875% 4/1/2029   7,000    6,994 
Republic Services, Inc. 2.375% 3/15/2033   1,252    1,019 
Ritchie Bros. Holdings, Inc. 7.75% 3/15/20312   1,511    1,569 
Rutas 2 & 7 Finance, Ltd. 0% 9/30/20362   1,615    1,059 
Ste Transcore Holdings, Inc. 3.375% 5/5/20278   3,000    2,848 
Stericycle, Inc. 5.375% 7/15/20242   5,000    4,940 
Summit Digitel Infrastructure Pvt, Ltd. 2.875% 8/12/20312   14,355    11,358 
Swire Pacific MTN Financing, Ltd. 4.50% 10/9/2023   2,662    2,653 
The Dun & Bradstreet Corp. 5.00% 12/15/20292   16,863    14,887 
TransDigm, Inc. 6.25% 3/15/20262   656    653 
Triton Container International, Ltd. 1.15% 6/7/20242   8,063    7,648 
Triton Container International, Ltd. 3.15% 6/15/20312   15,346    11,823 
TSMC Arizona Corp. 4.25% 4/22/2032   8,000    7,761 
TSMC Arizona Corp. 3.125% 10/25/2041   5,000    3,998 
TSMC Arizona Corp. 3.25% 10/25/2051   11,000    8,464 
Union Pacific Corp. 3.15% 3/1/2024   5,705    5,614 
Union Pacific Corp. 3.75% 7/15/2025   2,230    2,166 
Union Pacific Corp. 2.15% 2/5/2027   5,533    5,059 
Union Pacific Corp. 2.375% 5/20/2031   23,375    19,788 
Union Pacific Corp. 2.80% 2/14/2032   16,869    14,566 
Union Pacific Corp. 4.50% 1/20/2033   1,050    1,033 
Union Pacific Corp. 2.891% 4/6/2036   9,276    7,407 
Union Pacific Corp. 3.375% 2/14/2042   428    343 
Union Pacific Corp. 4.30% 3/1/2049   1,698    1,497 
Union Pacific Corp. 3.25% 2/5/2050   27,698    20,732 
Union Pacific Corp. 2.95% 3/10/2052   7,956    5,530 
Union Pacific Corp. 3.50% 2/14/2053   5,336    4,132 
Union Pacific Corp. 3.95% 8/15/2059   3,268    2,649 
Waste Management, Inc. 4.15% 4/15/2032   1,103    1,052 
WESCO Distribution, Inc. 7.125% 6/15/20252   2,165    2,190 
WESCO Distribution, Inc. 7.25% 6/15/20282   4,355    4,446 
         1,961,172 
           
Energy 2.00%          
Antero Resources Corp. 5.375% 3/1/20302   5,735    5,314 
Apache Corp. 4.25% 1/15/2030   9,050    8,069 
Apache Corp. 6.00% 1/15/2037   6,135    5,531 
Apache Corp. 5.10% 9/1/2040   4,860    3,955 
Apache Corp. 4.75% 4/15/2043   15,000    11,048 
Baker Hughes Holdings, LLC 2.061% 12/15/2026   397    358 
Bharat Petroleum Corp., Ltd. 4.00% 5/8/2025   5,599    5,410 

 

24 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Energy (continued)          
BP Capital Markets America, Inc. 2.721% 1/12/2032  USD17,670   $15,012 
BP Capital Markets America, Inc. 4.893% 9/11/2033   26,842    26,578 
BP Capital Markets America, Inc. 2.772% 11/10/2050   451    299 
Canadian Natural Resources, Ltd. 3.80% 4/15/2024   10,500    10,331 
Canadian Natural Resources, Ltd. 2.05% 7/15/2025   4,543    4,233 
Canadian Natural Resources, Ltd. 3.85% 6/1/2027   8,484    8,017 
Canadian Natural Resources, Ltd. 2.95% 7/15/2030   1,798    1,545 
Canadian Natural Resources, Ltd. 4.95% 6/1/2047   179    160 
Cenovus Energy, Inc. 5.375% 7/15/2025   32,721    32,357 
Cenovus Energy, Inc. 4.25% 4/15/2027   43,338    41,471 
Cenovus Energy, Inc. 5.25% 6/15/2037   2,189    2,019 
Cenovus Energy, Inc. 5.40% 6/15/2047   21,405    19,408 
Cenovus Energy, Inc. 3.75% 2/15/2052   4,199    2,977 
Cheniere Corpus Christi Holdings, LLC 3.70% 11/15/2029   3,388    3,071 
Cheniere Energy Partners, LP 4.50% 10/1/2029   5,050    4,639 
Cheniere Energy, Inc. 4.625% 10/15/2028   8,875    8,296 
Chesapeake Energy Corp. 5.50% 2/1/20262   1,405    1,371 
Chesapeake Energy Corp. 5.875% 2/1/20292   1,210    1,150 
Chevron Corp. 2.954% 5/16/2026   25,490    24,273 
Chevron Corp. 1.995% 5/11/2027   22,156    20,131 
Chevron Corp. 2.236% 5/11/2030   20,643    17,987 
Chevron Corp. 3.078% 5/11/2050   3,943    2,940 
Chevron USA, Inc. 1.018% 8/12/2027   4,385    3,815 
Civitas Resources, Inc. 8.75% 7/1/20312   10,300    10,455 
CNX Resources Corp. 7.25% 3/14/20272   20    20 
CNX Resources Corp. 6.00% 1/15/20292   1,608    1,492 
CNX Resources Corp. 7.375% 1/15/20312   1,437    1,400 
ConocoPhillips Co. 3.80% 3/15/2052   25,404    20,603 
ConocoPhillips Co. 5.30% 5/15/2053   28,695    29,213 
Constellation Oil Services Holding SA 4.00% PIK 12/31/20269   1,440    853 
Crescent Energy Finance, LLC 9.25% 2/15/20282   1,624    1,577 
Devon Energy Corp. 5.25% 9/15/2024   638    633 
Devon Energy Corp. 5.25% 10/15/2027   1,624    1,601 
Devon Energy Corp. 5.875% 6/15/2028   1,347    1,343 
Devon Energy Corp. 4.50% 1/15/2030   1,947    1,835 
DT Midstream, Inc. 4.125% 6/15/20292   5,685    4,994 
DT Midstream, Inc. 4.375% 6/15/20312   745    643 
Ecopetrol SA 8.625% 1/19/2029   2,000    2,007 
Ecopetrol SA 4.625% 11/2/2031   1,870    1,445 
Ecopetrol SA 8.875% 1/13/2033   131,045    129,878 
Enbridge, Inc. 4.00% 10/1/2023   10,100    10,061 
Energy Transfer, LP 4.50% 4/15/2024   2,975    2,941 
Energy Transfer, LP 6.625% junior subordinated perpetual bonds (3-month USD-LIBOR + 4.155% on 2/15/2028)1   12,000    9,226 
EQM Midstream Partners, LP 7.50% 6/1/20272   2,168    2,191 
EQM Midstream Partners, LP 5.50% 7/15/2028   8,300    7,861 
EQM Midstream Partners, LP 4.50% 1/15/20292   5,120    4,572 
EQM Midstream Partners, LP 6.50% 7/15/2048   6,000    5,435 
EQT Corp. 6.125% 2/1/20251   3,216    3,201 
EQT Corp. 3.90% 10/1/2027   11,000    10,180 
EQT Corp. 5.70% 4/1/2028   8,267    8,168 
EQT Corp. 5.00% 1/15/2029   1,175    1,107 
EQT Corp. 7.25% 2/1/20301   15,000    15,719 
Equinor ASA 3.625% 9/10/2028   8,379    8,001 
Equinor ASA 3.125% 4/6/2030   22,503    20,620 
Equinor ASA 2.375% 5/22/2030   3,444    2,993 
Equinor ASA 3.25% 11/18/2049   5,687    4,276 
Exxon Mobil Corp. 2.61% 10/15/2030   27,900    24,515 
Exxon Mobil Corp. 4.227% 3/19/2040   2,000    1,845 
Exxon Mobil Corp. 3.452% 4/15/2051   22,797    17,729 
Harvest Midstream I, LP 7.50% 9/1/20282   1,988    1,973 
Hilcorp Energy I, LP 5.75% 2/1/20292   2,125    1,926 
Hilcorp Energy I, LP 6.25% 4/15/20322   9,000    8,036 
Kinder Morgan, Inc. 5.20% 6/1/2033   26,443    25,638 
Marathon Oil Corp. 4.40% 7/15/2027   5,755    5,492 
Matador Resources Co. 6.875% 4/15/20282   4,950    4,905 
MPLX, LP 4.95% 9/1/2032   104    99 

 

The Bond Fund of America 25
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Energy (continued)          
MPLX, LP 4.95% 3/14/2052  USD28   $24 
Murphy Oil Corp. 6.375% 7/15/2028   8,741    8,624 
Murphy Oil Corp. 5.875% 12/1/20421   1,395    1,161 
Murphy Oil USA, Inc. 3.75% 2/15/20312   10,160    8,525 
MV24 Capital BV 6.748% 6/1/20342   1,669    1,507 
New Fortress Energy, Inc. 6.75% 9/15/20252   4,000    3,756 
New Fortress Energy, Inc. 6.50% 9/30/20262   6,595    5,908 
NGL Energy Operating, LLC 7.50% 2/1/20262   6,555    6,463 
Noble Finance II, LLC 8.00% 4/15/20302   1,850    1,883 
Occidental Petroleum Corp. 8.875% 7/15/2030   34,500    39,685 
Occidental Petroleum Corp. 6.45% 9/15/2036   5,000    5,139 
Occidental Petroleum Corp. 4.20% 3/15/2048   4,250    3,155 
Oil & Natural Gas Corp., Ltd. 3.375% 12/5/2029   5,000    4,398 
Oleoducto Central SA 4.00% 7/14/20272   4,960    4,349 
Oleoducto Central SA 4.00% 7/14/2027   4,569    4,007 
ONEOK, Inc. 5.85% 1/15/2026   432    434 
ONGC Videsh, Ltd. 4.625% 7/15/2024   401    395 
Petroleos Mexicanos 4.625% 9/21/2023   1,138    1,128 
Petroleos Mexicanos 4.875% 1/18/2024   11,170    10,986 
Petroleos Mexicanos 4.25% 1/15/2025   240    227 
Petroleos Mexicanos 6.875% 10/16/2025   69,634    66,945 
Petroleos Mexicanos 6.875% 8/4/2026   105,526    98,641 
Petroleos Mexicanos 6.49% 1/23/2027   41,162    36,610 
Petroleos Mexicanos 6.50% 3/13/2027   81,414    72,497 
Petroleos Mexicanos 6.50% 1/23/2029   7,061    5,859 
Petroleos Mexicanos 8.75% 6/2/2029   46,734    42,327 
Petroleos Mexicanos 6.84% 1/23/2030   5,122    4,077 
Petroleos Mexicanos 5.95% 1/28/2031   16,615    12,151 
Petroleos Mexicanos 6.70% 2/16/2032   71,147    54,160 
Phillips 66 3.85% 4/9/2025   1,253    1,219 
Pioneer Natural Resources Co. 1.125% 1/15/2026   238    214 
PTTEP Treasury Center Co., Ltd. 2.587% 6/10/20272   7,780    7,081 
PTTEP Treasury Center Co., Ltd. 2.993% 1/15/2030   3,500    3,127 
Qatar Energy 1.375% 9/12/20262   18,535    16,691 
Qatar Energy 2.25% 7/12/20312   41,974    35,256 
Qatar Energy 3.125% 7/12/20412   6,631    5,088 
Qatar Energy 3.30% 7/12/20512   3,725    2,742 
Reliance Industries, Ltd. 4.125% 1/28/2025   3,000    2,926 
Reliance Industries, Ltd. 3.667% 11/30/2027   3,000    2,816 
Reliance Industries, Ltd. 2.875% 1/12/2032   3,000    2,504 
Reliance Industries, Ltd. 4.875% 2/10/2045   3,000    2,714 
Reliance Industries, Ltd. 3.625% 1/12/2052   2,000    1,429 
Reliance Industries, Ltd. 3.75% 1/12/2062   1,500    1,057 
Sabine Pass Liquefaction, LLC 5.75% 5/15/2024   8,430    8,418 
Sabine Pass Liquefaction, LLC 4.50% 5/15/2030   1,959    1,864 
Shell International Finance BV 3.50% 11/13/2023   7,500    7,445 
Shell International Finance BV 2.00% 11/7/2024   3,250    3,112 
Shell International Finance BV 3.875% 11/13/2028   6,720    6,505 
Shell International Finance BV 2.375% 11/7/2029   9,441    8,256 
Shell International Finance BV 2.75% 4/6/2030   23,580    21,078 
Shell International Finance BV 3.25% 4/6/2050   4,675    3,483 
Shell International Finance BV 3.00% 11/26/2051   7,174    5,062 
Southwestern Energy Co. 5.70% 1/23/20251   880    876 
Southwestern Energy Co. 8.375% 9/15/2028   1,300    1,355 
Southwestern Energy Co. 4.75% 2/1/2032   12,000    10,593 
Sunoco, LP 6.00% 4/15/2027   4,210    4,152 
Sunoco, LP 4.50% 5/15/2029   5,215    4,633 
Tallgrass Energy Partners, LP 7.50% 10/1/20252   1,370    1,369 
Targa Resources Partners, LP 6.875% 1/15/2029   6,000    6,125 
Targa Resources Partners, LP 5.50% 3/1/2030   8,660    8,342 
Targa Resources Partners, LP 4.875% 2/1/2031   2,190    2,026 
Thaioil Treasury Center Co., Ltd. 4.625% 11/20/2028   4,252    4,016 
Thaioil Treasury Center Co., Ltd. 5.375% 11/20/2048   2,000    1,732 
Thaioil Treasury Center Co., Ltd. 3.50% 10/17/2049   6,000    3,831 
Thaioil Treasury Center Co., Ltd. 3.75% 6/18/2050   10,748    7,195 
TotalEnergies Capital International SA 3.455% 2/19/2029   4,700    4,374 
TotalEnergies Capital International SA 2.829% 1/10/2030   10,340    9,262 

 

26 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Energy (continued)          
TotalEnergies Capital International SA 3.461% 7/12/2049  USD2,600   $2,019 
TotalEnergies Capital International SA 3.127% 5/29/2050   6,238    4,537 
TransCanada Pipelines, Ltd. 4.10% 4/15/2030   16,811    15,628 
TransCanada Pipelines, Ltd. 5.10% 3/15/2049   4,630    4,319 
Transportadora de Gas del Perú SA 4.25% 4/30/20282   2,535    2,445 
Venture Global Calcasieu Pass, LLC 3.875% 11/1/20332   18,000    14,764 
Weatherford International, Ltd. 6.50% 9/15/20282   3,000    3,016 
Western Midstream Operating, LP 3.35% 2/1/20251   8,964    8,577 
Western Midstream Operating, LP 4.30% 2/1/20301   6,606    5,937 
Western Midstream Operating, LP 5.30% 3/1/2048   2,000    1,673 
Western Midstream Operating, LP 5.50% 2/1/20501   15,036    12,339 
         1,510,710 
           
Consumer staples 1.32%          
7-Eleven, Inc. 0.95% 2/10/20262   14,555    13,009 
7-Eleven, Inc. 1.30% 2/10/20282   9,246    7,817 
7-Eleven, Inc. 1.80% 2/10/20312   62,577    49,520 
7-Eleven, Inc. 2.80% 2/10/20512   8,505    5,399 
Albertsons Companies, Inc. 3.50% 3/15/20292   8,727    7,563 
Altria Group, Inc. 4.40% 2/14/2026   7,928    7,761 
Altria Group, Inc. 3.40% 5/6/2030   1,827    1,614 
Altria Group, Inc. 2.45% 2/4/2032   530    414 
Altria Group, Inc. 4.50% 5/2/2043   100    80 
Altria Group, Inc. 3.875% 9/16/2046   5,690    3,994 
Altria Group, Inc. 3.70% 2/4/2051   19,793    13,277 
Anheuser-Busch Companies, LLC 4.70% 2/1/2036   17,560    17,092 
Anheuser-Busch Companies, LLC 4.90% 2/1/2046   7,692    7,358 
Anheuser-Busch InBev Worldwide, Inc. 4.00% 4/13/2028   2,000    1,936 
Anheuser-Busch InBev Worldwide, Inc. 4.75% 1/23/2029   46,001    45,827 
Anheuser-Busch InBev Worldwide, Inc. 3.50% 6/1/2030   2,455    2,285 
Anheuser-Busch InBev Worldwide, Inc. 4.90% 1/23/2031   3,000    3,052 
Anheuser-Busch InBev Worldwide, Inc. 5.45% 1/23/2039   10,000    10,356 
Anheuser-Busch InBev Worldwide, Inc. 4.60% 4/15/2048   1,194    1,109 
Anheuser-Busch InBev Worldwide, Inc. 4.439% 10/6/2048   147    132 
Anheuser-Busch InBev Worldwide, Inc. 5.55% 1/23/2049   2,979    3,143 
Anheuser-Busch InBev Worldwide, Inc. 4.50% 6/1/2050   14,083    13,006 
BAT Capital Corp. 3.222% 8/15/2024   41,000    39,802 
BAT Capital Corp. 3.215% 9/6/2026   8,750    8,137 
BAT Capital Corp. 3.557% 8/15/2027   45,322    41,704 
BAT Capital Corp. 2.259% 3/25/2028   17,526    15,033 
BAT Capital Corp. 3.462% 9/6/2029   960    832 
BAT Capital Corp. 2.726% 3/25/2031   6,933    5,525 
BAT Capital Corp. 4.742% 3/16/2032   17,000    15,511 
BAT Capital Corp. 4.39% 8/15/2037   29,384    23,528 
BAT Capital Corp. 4.54% 8/15/2047   21,852    16,103 
BAT Capital Corp. 4.758% 9/6/2049   3,873    2,928 
BAT Capital Corp. 3.984% 9/25/2050   19,476    13,144 
BAT Capital Corp. 5.65% 3/16/2052   515    448 
BAT International Finance PLC 3.95% 6/15/20252   20,022    19,290 
BAT International Finance PLC 1.668% 3/25/2026   17,162    15,439 
BAT International Finance PLC 4.448% 3/16/2028   18,500    17,475 
Central Garden & Pet Co. 4.125% 10/15/2030   1,325    1,112 
Conagra Brands, Inc. 4.30% 5/1/2024   22,027    21,735 
Conagra Brands, Inc. 4.60% 11/1/2025   11,234    10,985 
Conagra Brands, Inc. 1.375% 11/1/2027   3,559    3,016 
Conagra Brands, Inc. 5.30% 11/1/2038   7,483    7,198 
Conagra Brands, Inc. 5.40% 11/1/2048   6,403    6,108 
Constellation Brands, Inc. 4.35% 5/9/2027   5,757    5,617 
Constellation Brands, Inc. 3.60% 2/15/2028   1,650    1,547 
Constellation Brands, Inc. 2.875% 5/1/2030   26,447    22,961 
Constellation Brands, Inc. 2.25% 8/1/2031   5,951    4,867 
Constellation Brands, Inc. 4.75% 5/9/2032   19,010    18,460 
Constellation Brands, Inc. 4.90% 5/1/2033   19,120    18,794 
Constellation Brands, Inc. 4.10% 2/15/2048   1,000    816 
Coty, Inc. 4.75% 1/15/20292   275    254 
Darling Ingredients, Inc. 5.25% 4/15/20272   6,000    5,830 
Darling Ingredients, Inc. 6.00% 6/15/20302   755    738 

 

The Bond Fund of America 27
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Consumer staples (continued)          
H.J. Heinz Co. 3.00% 6/1/2026  USD2,599   $2,453 
H.J. Heinz Co. 4.375% 6/1/2046   16,000    13,609 
Imperial Brands Finance PLC 6.125% 7/27/20272   10,150    10,176 
Indofood CBP Sukses Makmur Tbk PT 3.398% 6/9/2031   17,570    14,869 
Indofood CBP Sukses Makmur Tbk PT 4.745% 6/9/2051   8,185    6,133 
Indofood CBP Sukses Makmur Tbk PT 4.805% 4/27/2052   809    603 
InRetail Consumer 3.25% 3/22/20282   5,400    4,642 
JBS USA Lux SA 2.50% 1/15/20272   29,702    26,044 
JBS USA Lux SA 3.00% 2/2/20292   22,321    18,984 
JBS USA Lux SA 5.50% 1/15/20302   2,375    2,280 
JBS USA Lux SA 3.625% 1/15/20322   10,401    8,449 
JBS USA Lux SA 3.00% 5/15/20322   18,250    14,022 
JBS USA Lux SA 5.75% 4/1/20332   20,920    19,682 
Keurig Dr Pepper, Inc. 4.417% 5/25/2025   1,028    1,008 
Keurig Dr Pepper, Inc. 3.20% 5/1/2030   2,557    2,295 
Nestle Holdings, Inc. 1.875% 9/14/20312   9,687    7,925 
Nestle Holdings, Inc. 2.625% 9/14/20512   7,693    5,288 
PepsiCo, Inc. 1.625% 5/1/2030   6,401    5,324 
PepsiCo, Inc. 1.40% 2/25/2031   666    536 
PepsiCo, Inc. 1.95% 10/21/2031   15,329    12,694 
PepsiCo, Inc. 2.75% 10/21/2051   2,067    1,485 
Philip Morris International, Inc. 1.50% 5/1/2025   274    256 
Philip Morris International, Inc. 5.00% 11/17/2025   32,200    32,047 
Philip Morris International, Inc. 4.875% 2/13/2026   17,505    17,387 
Philip Morris International, Inc. 0.875% 5/1/2026   4,736    4,227 
Philip Morris International, Inc. 5.125% 11/17/2027   16,175    16,236 
Philip Morris International, Inc. 3.375% 8/15/2029   780    705 
Philip Morris International, Inc. 5.625% 11/17/2029   15,422    15,726 
Philip Morris International, Inc. 5.125% 2/15/2030   6,873    6,802 
Philip Morris International, Inc. 2.10% 5/1/2030   3,718    3,079 
Philip Morris International, Inc. 1.75% 11/1/2030   4,375    3,460 
Philip Morris International, Inc. 5.75% 11/17/2032   27,560    28,239 
Philip Morris International, Inc. 5.375% 2/15/2033   16,980    16,952 
Philip Morris International, Inc. 4.125% 3/4/2043   4,445    3,633 
Philip Morris International, Inc. 4.875% 11/15/2043   6,050    5,414 
Philip Morris International, Inc. 4.25% 11/10/2044   1,009    840 
Procter & Gamble Company 0.55% 10/29/2025   4,261    3,863 
Procter & Gamble Company 1.00% 4/23/2026   1,229    1,113 
Procter & Gamble Company 3.95% 1/26/2028   18,289    17,979 
Procter & Gamble Company 3.00% 3/25/2030   1,183    1,096 
Procter & Gamble Company 1.20% 10/29/2030   4,005    3,232 
Reckitt Benckiser Treasury Services PLC 2.75% 6/26/20242   4,305    4,187 
Reynolds American, Inc. 4.45% 6/12/2025   3,478    3,381 
Reynolds American, Inc. 4.75% 11/1/2042   2,500    2,033 
Reynolds American, Inc. 5.85% 8/15/2045   6,209    5,529 
Target Corp. 4.50% 9/15/2032   2,233    2,181 
Target Corp. 4.80% 1/15/2053   9,038    8,658 
Walmart, Inc. 4.10% 4/15/2033   29,655    28,810 
Walmart, Inc. 4.50% 4/15/2053   6,020    5,876 
         1,002,123 
           
Real estate 0.85%          
Alexandria Real Estate Equities, Inc. 3.80% 4/15/2026   1,647    1,576 
Alexandria Real Estate Equities, Inc. 3.95% 1/15/2028   100    93 
Alexandria Real Estate Equities, Inc. 3.375% 8/15/2031   1,980    1,698 
American Tower Corp. 3.65% 3/15/2027   427    400 
American Tower Corp. 2.70% 4/15/2031   5,000    4,151 
Boston Properties, LP 2.45% 10/1/2033   9,609    6,934 
Boston Properties, LP 6.50% 1/15/2034   78,463    79,010 
Corp. Inmobiliaria Vesta, SAB de CV 3.625% 5/13/20312   2,490    2,075 
Corp. Inmobiliaria Vesta, SAB de CV 3.625% 5/13/2031   2,000    1,667 
Corporate Office Properties, LP 2.25% 3/15/2026   14,337    12,711 
Corporate Office Properties, LP 2.00% 1/15/2029   6,408    4,891 
Corporate Office Properties, LP 2.75% 4/15/2031   13,897    10,575 
Corporate Office Properties, LP 2.90% 12/1/2033   5,754    3,994 
Crown Castle, Inc. 5.00% 1/11/2028   34,366    33,762 
Equinix, Inc. 2.625% 11/18/2024   32,830    31,368 

 

28 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Real estate (continued)          
Equinix, Inc. 1.25% 7/15/2025  USD9,870   $9,008 
Equinix, Inc. 1.45% 5/15/2026   5,950    5,317 
Equinix, Inc. 2.90% 11/18/2026   14,009    12,857 
Equinix, Inc. 1.80% 7/15/2027   2,871    2,490 
Equinix, Inc. 1.55% 3/15/2028   7,130    5,968 
Equinix, Inc. 2.00% 5/15/2028   1,318    1,124 
Equinix, Inc. 3.20% 11/18/2029   17,775    15,628 
Equinix, Inc. 2.15% 7/15/2030   12,149    9,834 
Equinix, Inc. 2.50% 5/15/2031   15,654    12,761 
Equinix, Inc. 3.90% 4/15/2032   933    839 
Equinix, Inc. 3.00% 7/15/2050   739    479 
Equinix, Inc. 2.95% 9/15/2051   400    254 
Equinix, Inc. 3.40% 2/15/2052   3,120    2,186 
Essex Portfolio, LP 3.875% 5/1/2024   5,500    5,401 
FibraSOMA 4.375% 7/22/20312   8,260    6,191 
FibraSOMA 4.375% 7/22/2031   2,000    1,499 
Forestar Group, Inc. 3.85% 5/15/20262   3,815    3,510 
Forestar Group, Inc. 5.00% 3/1/20282   2,000    1,837 
Howard Hughes Corp. 5.375% 8/1/20282   7,525    6,708 
Howard Hughes Corp. 4.125% 2/1/20292   1,925    1,595 
Howard Hughes Corp. 4.375% 2/1/20312   6,265    5,006 
Invitation Homes Operating Partnership, LP 2.30% 11/15/2028   4,513    3,842 
Invitation Homes Operating Partnership, LP 2.00% 8/15/2031   1,088    835 
Iron Mountain, Inc. 4.875% 9/15/20272   1,605    1,518 
Iron Mountain, Inc. 5.25% 3/15/20282   12,959    12,130 
Iron Mountain, Inc. 4.875% 9/15/20292   8,367    7,497 
Iron Mountain, Inc. 5.25% 7/15/20302   7,950    7,171 
Iron Mountain, Inc. 4.50% 2/15/20312   8,750    7,526 
Kennedy-Wilson, Inc. 4.75% 3/1/2029   2,325    1,841 
Kennedy-Wilson, Inc. 5.00% 3/1/2031   5,870    4,398 
KRC Interim Corp. 2.70% 3/1/2024   16,980    16,593 
KRC Interim Corp. 3.30% 2/1/2025   5,000    4,784 
Omega Healthcare Investors, Inc. 4.375% 8/1/2023   433    432 
Piedmont Operating Partnership, LP 4.45% 3/15/2024   3,000    2,933 
Prologis, LP 4.875% 6/15/2028   7,672    7,609 
Prologis, LP 4.75% 6/15/2033   9,650    9,436 
Prologis, LP 5.125% 1/15/2034   45,474    45,177 
Prologis, LP 5.25% 6/15/2053   826    812 
Public Storage 1.95% 11/9/2028   5,850    5,023 
Public Storage 2.30% 5/1/2031   22,729    18,927 
Scentre Group Trust 1 3.50% 2/12/20252   5,950    5,711 
Service Properties Trust 4.50% 3/15/2025   6,875    6,504 
Service Properties Trust 3.95% 1/15/2028   100    78 
Sun Communities Operating, LP 2.30% 11/1/2028   3,349    2,819 
Sun Communities Operating, LP 2.70% 7/15/2031   11,996    9,493 
Sun Communities Operating, LP 4.20% 4/15/2032   4,115    3,599 
VICI Properties, LP 5.625% 5/1/20242   3,885    3,865 
VICI Properties, LP 3.50% 2/15/20252   2,675    2,558 
VICI Properties, LP 4.375% 5/15/2025   4,312    4,171 
VICI Properties, LP 4.625% 6/15/20252   3,475    3,361 
VICI Properties, LP 4.25% 12/1/20262   5,700    5,337 
VICI Properties, LP 4.50% 1/15/20282   6,770    6,227 
VICI Properties, LP 4.75% 2/15/2028   27,430    26,000 
VICI Properties, LP 3.875% 2/15/20292   2,835    2,490 
VICI Properties, LP 4.625% 12/1/20292   715    650 
VICI Properties, LP 4.95% 2/15/2030   27,015    25,367 
VICI Properties, LP 4.125% 8/15/20302   2,500    2,203 
VICI Properties, LP 5.125% 5/15/2032   66,704    62,475 
VICI Properties, LP 5.625% 5/15/2052   2,370    2,114 
WEA Finance, LLC 3.75% 9/17/20242   2,480    2,343 
WEA Finance, LLC 3.50% 6/15/20292   6,247    5,085 
         646,331 

 

The Bond Fund of America 29
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Information technology 0.81%          
Adobe, Inc. 1.90% 2/1/2025  USD647   $615 
Adobe, Inc. 2.30% 2/1/2030   6,009    5,275 
Analog Devices, Inc. 1.70% 10/1/2028   4,539    3,902 
Analog Devices, Inc. 2.10% 10/1/2031   22,799    18,881 
Analog Devices, Inc. 2.80% 10/1/2041   2,973    2,210 
Analog Devices, Inc. 2.95% 10/1/2051   18,184    12,863 
Apple, Inc. 0.55% 8/20/2025   9,000    8,224 
Apple, Inc. 0.70% 2/8/2026   10,435    9,410 
Apple, Inc. 4.00% 5/10/2028   20,625    20,302 
Apple, Inc. 3.25% 8/8/2029   1,318    1,237 
Apple, Inc. 3.35% 8/8/2032   73,769    68,825 
Apple, Inc. 4.30% 5/10/2033   8,725    8,683 
Apple, Inc. 2.375% 2/8/2041   4,625    3,415 
Apple, Inc. 2.65% 2/8/2051   3,000    2,074 
Apple, Inc. 2.70% 8/5/2051   4,500    3,139 
Apple, Inc. 3.95% 8/8/2052   38,907    34,319 
Apple, Inc. 4.85% 5/10/2053   24,716    25,348 
Black Knight InfoServ, LLC 3.625% 9/1/20282   3,200    2,872 
Broadcom Corp. 3.625% 1/15/2024   270    267 
Broadcom Corp. 3.875% 1/15/2027   6,802    6,489 
Broadcom, Inc. 1.95% 2/15/20282   373    323 
Broadcom, Inc. 4.00% 4/15/20292   9,452    8,737 
Broadcom, Inc. 4.75% 4/15/2029   537    520 
Broadcom, Inc. 4.15% 11/15/2030   26,581    24,469 
Broadcom, Inc. 4.15% 4/15/20322   12,295    11,142 
Broadcom, Inc. 3.469% 4/15/20342   34,276    28,129 
Broadcom, Inc. 3.137% 11/15/20352   2,092    1,605 
Broadcom, Inc. 3.187% 11/15/20362   7,093    5,365 
Broadcom, Inc. 4.926% 5/15/20372   4,025    3,645 
Broadcom, Inc. 3.50% 2/15/20412   4,709    3,526 
Broadcom, Inc. 3.75% 2/15/20512   3,180    2,342 
CDW, LLC 4.125% 5/1/2025   5,275    5,084 
Gartner, Inc. 4.50% 7/1/20282   1,850    1,730 
Hewlett Packard Enterprise Co. 5.90% 10/1/2024   5,000    5,003 
Imola Merger Corp. 4.75% 5/15/20292   2,500    2,177 
Intel Corp. 5.20% 2/10/2033   9,318    9,411 
Intel Corp. 5.70% 2/10/2053   1,596    1,625 
Intel Corp. 5.90% 2/10/2063   2,970    3,070 
Lenovo Group, Ltd. 3.421% 11/2/2030   4,000    3,373 
Lenovo Group, Ltd. 6.536% 7/27/2032   3,000    3,029 
Microsoft Corp. 2.40% 8/8/2026   21,100    19,814 
Microsoft Corp. 3.30% 2/6/2027   18,325    17,631 
NCR Corp. 5.25% 10/1/20302   7,250    6,314 
Open Text Corp. 3.875% 2/15/20282   6,500    5,731 
Oracle Corp. 5.80% 11/10/2025   3,000    3,034 
Oracle Corp. 3.60% 4/1/2050   50,814    36,339 
Oracle Corp. 3.95% 3/25/2051   3,629    2,746 
Salesforce, Inc. 1.95% 7/15/2031   16,600    13,709 
Salesforce, Inc. 2.70% 7/15/2041   4,875    3,585 
Salesforce, Inc. 2.90% 7/15/2051   4,828    3,399 
Salesforce, Inc. 3.05% 7/15/2061   4,060    2,758 
ServiceNow, Inc. 1.40% 9/1/2030   72,310    57,296 
SK hynix, Inc. 1.50% 1/19/20262   19,275    17,084 
SK hynix, Inc. 6.375% 1/17/2028   4,000    4,018 
SK hynix, Inc. 2.375% 1/19/20312   9,830    7,588 
TSMC Global, Ltd. 0.75% 9/28/2025   10,000    9,002 
TSMC Global, Ltd. 1.25% 4/23/2026   10,000    8,935 
TSMC Global, Ltd. 1.00% 9/28/2027   10,000    8,480 
TSMC Global, Ltd. 1.75% 4/23/2028   5,000    4,307 
TSMC Global, Ltd. 2.25% 4/23/2031   11,000    9,098 
Unisys Corp. 6.875% 11/1/20272   1,700    1,226 
Xerox Holdings Corp. 5.50% 8/15/20282   6,000    5,110 
         609,859 

 

30 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Materials 0.57%          
Air Products and Chemicals, Inc. 2.70% 5/15/2040  USD11,472   $8,570 
Alpek, SAB de CV 3.25% 2/25/20312   5,000    4,044 
ArcelorMittal SA 7.00% 10/15/2039   3,250    3,397 
ArcelorMittal SA 6.75% 3/1/2041   2,780    2,833 
Ardagh Packaging Finance PLC 5.25% 4/30/20252   3,640    3,564 
Ardagh Packaging Finance PLC 4.125% 8/15/20262   2,500    2,332 
Ball Corp. 4.00% 11/15/2023   6,000    5,960 
Berry Plastics Corp. 4.875% 7/15/20262   9,875    9,501 
BHP Billiton Finance (USA), Ltd. 4.875% 2/27/2026   8,600    8,561 
BHP Billiton Finance (USA), Ltd. 4.75% 2/28/2028   17,329    17,226 
BHP Billiton Finance (USA), Ltd. 4.90% 2/28/2033   2,930    2,920 
Braskem Netherlands Finance BV 4.50% 1/31/20302   4,600    3,955 
Braskem Netherlands Finance BV 4.50% 1/31/2030   4,000    3,439 
Braskem Netherlands Finance BV 7.25% 2/13/20332   4,765    4,686 
Braskem Netherlands Finance BV 5.875% 1/31/20502   4,000    3,236 
Celanese US Holdings, LLC 6.165% 7/15/2027   19,250    19,164 
Celanese US Holdings, LLC 6.33% 7/15/2029   2,583    2,567 
Celanese US Holdings, LLC 6.379% 7/15/2032   15,962    16,109 
Cleveland-Cliffs, Inc. 6.75% 3/15/20262   12,450    12,593 
Cleveland-Cliffs, Inc. 4.625% 3/1/20292   4,175    3,765 
Cleveland-Cliffs, Inc. 4.875% 3/1/20312   2,825    2,486 
CROWN Americas, LLC 4.25% 9/30/2026   4,000    3,792 
Dow Chemical Co. (The) 4.55% 11/30/2025   33    32 
Dow Chemical Co. (The) 4.80% 11/30/2028   4,000    3,960 
Dow Chemical Co. (The) 5.55% 11/30/2048   6,500    6,317 
Dow Chemical Co. (The) 4.80% 5/15/2049   10,493    9,150 
Dow Chemical Co. (The) 3.60% 11/15/2050   2,190    1,633 
EIDP, Inc. 4.50% 5/15/2026   10,834    10,641 
EIDP, Inc. 4.80% 5/15/2033   31,313    30,673 
Freeport-McMoRan, Inc. 5.40% 11/14/2034   1,450    1,402 
Freeport-McMoRan, Inc. 5.45% 3/15/2043   2,566    2,396 
Fresnillo PLC 4.25% 10/2/20502   9,516    7,140 
GC Treasury Center Co., Ltd. 2.98% 3/18/2031   6,000    4,962 
GC Treasury Center Co., Ltd. 4.40% 3/30/2032   8,000    7,234 
GC Treasury Center Co., Ltd. 4.30% 3/18/2051   4,268    3,141 
GC Treasury Center Co., Ltd. 5.20% 3/30/2052   5,732    4,889 
Graphic Packaging International, LLC 3.50% 3/15/20282   8,000    7,165 
International Flavors & Fragrances, Inc. 1.23% 10/1/20252   5,000    4,460 
International Flavors & Fragrances, Inc. 1.832% 10/15/20272   9,526    8,041 
International Flavors & Fragrances, Inc. 2.30% 11/1/20302   12,368    9,811 
International Flavors & Fragrances, Inc. 3.268% 11/15/20402   9,022    6,322 
International Flavors & Fragrances, Inc. 3.468% 12/1/20502   6,272    4,198 
Linde, Inc. 4.70% 12/5/2025   7,500    7,446 
Linde, Inc. 1.10% 8/10/2030   9,602    7,640 
Linde, Inc. 2.00% 8/10/2050   5,829    3,323 
Methanex Corp. 5.125% 10/15/2027   13,150    12,256 
Methanex Corp. 5.25% 12/15/2029   1,125    1,029 
Methanex Corp. 5.65% 12/1/2044   1,000    821 
Mineral Resources, Ltd. 8.00% 11/1/20272   5,475    5,473 
Nova Chemicals Corp. 4.875% 6/1/20242   2,000    1,956 
Nova Chemicals Corp. 5.25% 6/1/20272   7,500    6,677 
Nova Chemicals Corp. 4.25% 5/15/20292   5,535    4,523 
Nutrien, Ltd. 5.90% 11/7/2024   577    577 
Nutrien, Ltd. 4.90% 3/27/2028   4,011    3,937 
Nutrien, Ltd. 4.20% 4/1/2029   500    473 
Nutrien, Ltd. 5.00% 4/1/2049   3,850    3,474 
Nutrien, Ltd. 5.80% 3/27/2053   1,029    1,033 
OCI NV 6.70% 3/16/20332   11,796    11,539 
Olin Corp. 5.625% 8/1/2029   2,500    2,412 
Orbia Advance Corp, SAB de CV 2.875% 5/11/2031   7,000    5,563 
POSCO 2.75% 7/15/2024   4,000    3,875 
POSCO 5.75% 1/17/20282   5,195    5,272 
POSCO 5.875% 1/17/20332   630    664 
PT Freeport Indonesia 4.763% 4/14/2027   5,000    4,851 
PT Freeport Indonesia 5.315% 4/14/2032   7,000    6,637 
Rio Tinto Finance (USA) PLC 5.00% 3/9/2033   3,100    3,129 
Rio Tinto Finance (USA) PLC 5.125% 3/9/2053   3,300    3,330 

 

The Bond Fund of America 31
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Corporate bonds, notes & loans (continued)        
Materials (continued)          
Sherwin-Williams Co. 3.125% 6/1/2024  USD7,250   $7,081 
Sherwin-Williams Co. 3.45% 6/1/2027   2,862    2,699 
Sherwin-Williams Co. 2.95% 8/15/2029   5,150    4,546 
Sherwin-Williams Co. 2.20% 3/15/2032   1,383    1,116 
Sherwin-Williams Co. 3.80% 8/15/2049   1,750    1,355 
Sherwin-Williams Co. 3.30% 5/15/2050   1,700    1,211 
Sherwin-Williams Co. 2.90% 3/15/2052   2,500    1,611 
Silgan Holdings, Inc. 4.125% 2/1/2028   2,500    2,296 
South32 Treasury, Ltd. 4.35% 4/14/20322   7,496    6,584 
Summit Materials, LLC 5.25% 1/15/20292   4,160    3,935 
Suzano Austria GmbH 3.75% 1/15/2031   6,660    5,689 
Tronox, Inc. 4.625% 3/15/20292   6,000    4,992 
Westlake Corp. 5.00% 8/15/2046   5,265    4,579 
Westlake Corp. 4.375% 11/15/2047   1,110    872 
         434,743 
           
Asset backed obligations 0.01%          
SK On Co., Ltd. 5.375% 5/11/2026   9,000    8,929 
           
Municipals 0.01%          
Aeropuerto Internacional de Tocumen, SA 4.00% 8/11/20412   4,100    3,289 
Aeropuerto Internacional de Tocumen, SA 5.125% 8/11/20612   3,180    2,455 
HPHT Finance 19, Ltd. 2.875% 11/5/2024   2,000    1,922 
         7,666 
           
Total corporate bonds, notes & loans        23,916,929 
           
Mortgage-backed obligations 31.53%          
Federal agency mortgage-backed obligations 28.30%          
Fannie Mae Pool #255016 6.50% 10/1/202310   2    2 
Fannie Mae Pool #932119 4.50% 11/1/202410   177    175 
Fannie Mae Pool #AD3149 4.50% 4/1/202510   103    101 
Fannie Mae Pool #AD6392 4.50% 5/1/202510   223    221 
Fannie Mae Pool #AD5692 4.50% 5/1/202510   118    116 
Fannie Mae Pool #AB1068 4.50% 5/1/202510   1    1 
Fannie Mae Pool #303591 6.50% 11/1/202510   6    6 
Fannie Mae Pool #745316 6.50% 2/1/202610   10    10 
Fannie Mae Pool #AL1237 6.50% 2/1/202610   3    3 
Fannie Mae Pool #256449 6.50% 10/1/202610   14    14 
Fannie Mae Pool #MA2973 3.00% 4/1/202710   4    4 
Fannie Mae Pool #256821 6.50% 7/1/202710   1    1 
Fannie Mae Pool #256856 6.50% 8/1/202710   29    30 
Fannie Mae Pool #MA3131 3.00% 9/1/202710   38    37 
Fannie Mae Pool #256886 6.50% 9/1/202710   21    21 
Fannie Mae Pool #995401 6.50% 10/1/202710   6    6 
Fannie Mae Pool #257145 6.50% 3/1/202810   9    9 
Fannie Mae Pool #251752 6.50% 6/1/202810   6    6 
Fannie Mae Pool #257431 6.50% 10/1/202810   2    2 
Fannie Mae Pool #AL8822 6.50% 11/1/202810   6    6 
Fannie Mae Pool #496029 6.50% 1/1/202910   6    6 
Fannie Mae Pool #AY1948 3.50% 1/1/203010   192    184 
Fannie Mae Pool #AL9668 3.00% 10/1/203010   6    6 
Fannie Mae Pool #AZ0554 3.50% 10/1/203010   244    234 
Fannie Mae Pool #AL6344 5.00% 2/1/203110   165    165 
Fannie Mae Pool #FM9892 5.00% 9/1/203110   121    119 
Fannie Mae Pool #BJ4856 3.00% 2/1/203310   349    327 
Fannie Mae Pool #695412 5.00% 6/1/203310   4    4 
Fannie Mae Pool #MA3518 4.00% 11/1/203310   12    12 
Fannie Mae Pool #BO1359 2.50% 8/1/203410   1,465    1,355 
Fannie Mae Pool #AD3566 5.00% 10/1/203510   26    26 
Fannie Mae Pool #745140 5.00% 11/1/203510   160    162 
Fannie Mae Pool #MA2588 4.00% 4/1/203610   1,351    1,302 
Fannie Mae Pool #MA2717 4.00% 8/1/203610   276    266 
Fannie Mae Pool #MA2746 4.00% 9/1/203610   1,638    1,579 
Fannie Mae Pool #MA2787 4.00% 10/1/203610   941    907 
Fannie Mae Pool #AS8355 3.00% 11/1/203610   8,006    7,400 

 

32 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Federal agency mortgage-backed obligations (continued)          
Fannie Mae Pool #AS8554 3.00% 12/1/203610  USD816   $754 
Fannie Mae Pool #MA2866 3.00% 1/1/203710   9,735    9,002 
Fannie Mae Pool #MA2897 3.00% 2/1/203710   17,022    15,735 
Fannie Mae Pool #913966 6.00% 2/1/203710   2    2 
Fannie Mae Pool #914612 7.50% 3/1/203710   53    53 
Fannie Mae Pool #924069 7.00% 5/1/203710   98    98 
Fannie Mae Pool #954927 7.00% 7/1/203710   96    95 
Fannie Mae Pool #966170 7.00% 7/1/203710   72    72 
Fannie Mae Pool #954936 7.00% 7/1/203710   36    37 
Fannie Mae Pool #945680 6.00% 9/1/203710   16    17 
Fannie Mae Pool #924866 3.765% 10/1/20373,10   5    5 
Fannie Mae Pool #988588 5.50% 8/1/203810   3    3 
Fannie Mae Pool #889982 5.50% 11/1/203810   16    17 
Fannie Mae Pool #MA3539 4.50% 12/1/203810   36    35 
Fannie Mae Pool #931768 5.00% 8/1/203910   38    38 
Fannie Mae Pool #AC2641 4.50% 10/1/203910   3,443    3,402 
Fannie Mae Pool #AC0794 5.00% 10/1/203910   27    27 
Fannie Mae Pool #932606 5.00% 2/1/204010   65    65 
Fannie Mae Pool #MA4093 2.00% 8/1/204010   6,625    5,709 
Fannie Mae Pool #AD8522 4.00% 8/1/204010   88    84 
Fannie Mae Pool #AB1297 5.00% 8/1/204010   272    274 
Fannie Mae Pool #AE1761 4.00% 9/1/204010   1,732    1,667 
Fannie Mae Pool #MA4152 2.00% 10/1/204010   7,459    6,368 
Fannie Mae Pool #AE5471 4.50% 10/1/204010   544    536 
Fannie Mae Pool #AE7567 4.00% 11/1/204010   1,816    1,747 
Fannie Mae Pool #AH0007 4.00% 12/1/204010   1,772    1,705 
Fannie Mae Pool #AH0539 4.00% 12/1/204010   492    474 
Fannie Mae Pool #AE8073 4.00% 12/1/204010   336    323 
Fannie Mae Pool #MA4287 2.00% 3/1/204110   85,507    72,435 
Fannie Mae Pool #AH6099 5.00% 3/1/204110   1,156    1,165 
Fannie Mae Pool #AH8144 5.00% 4/1/204110   32    32 
Fannie Mae Pool #AH9479 5.00% 4/1/204110   30    31 
Fannie Mae Pool #MA4333 2.00% 5/1/204110   69,920    59,579 
Fannie Mae Pool #AI1862 5.00% 5/1/204110   1,308    1,314 
Fannie Mae Pool #MA4364 2.00% 6/1/204110   121,692    103,776 
Fannie Mae Pool #AI3510 5.00% 6/1/204110   669    672 
Fannie Mae Pool #AE1248 5.00% 6/1/204110   43    44 
Fannie Mae Pool #MA4387 2.00% 7/1/204110   115,020    98,178 
Fannie Mae Pool #FM7690 2.00% 7/1/204110   33,417    28,546 
Fannie Mae Pool #BT5941 2.00% 7/1/204110   13,103    11,185 
Fannie Mae Pool #MA4407 2.00% 8/1/204110   250,389    213,566 
Fannie Mae Pool #FM8120 2.00% 8/1/204110   22,687    19,424 
Fannie Mae Pool #AI5172 4.00% 8/1/204110   412    394 
Fannie Mae Pool #AL0658 4.50% 8/1/204110   583    576 
Fannie Mae Pool #AJ0257 4.00% 9/1/204110   124    119 
Fannie Mae Pool #AJ0704 5.00% 9/1/204110   601    605 
Fannie Mae Pool #AJ1873 4.00% 10/1/204110   331    318 
Fannie Mae Pool #AJ4154 4.00% 11/1/204110   349    336 
Fannie Mae Pool #AJ5391 5.00% 11/1/204110   433    437 
Fannie Mae Pool #AE1277 5.00% 11/1/204110   115    115 
Fannie Mae Pool #MA4501 2.00% 12/1/204110   74,907    63,427 
Fannie Mae Pool #AB4050 4.00% 12/1/204110   664    639 
Fannie Mae Pool #AJ7471 4.00% 12/1/204110   399    384 
Fannie Mae Pool #AJ4189 4.00% 12/1/204110   391    376 
Fannie Mae Pool #AE1283 5.00% 12/1/204110   71    71 
Fannie Mae Pool #MA4540 2.00% 2/1/204210   33,213    28,243 
Fannie Mae Pool #890407 4.00% 2/1/204210   906    872 
Fannie Mae Pool #AE1290 5.00% 2/1/204210   135    136 
Fannie Mae Pool #MA4570 2.00% 3/1/204210   18,973    16,074 
Fannie Mae Pool #AK6740 4.00% 3/1/204210   3,410    3,297 
Fannie Mae Pool #AL2745 4.00% 3/1/204210   2,697    2,595 
Fannie Mae Pool #AK4949 4.00% 3/1/204210   197    189 
Fannie Mae Pool #MA4586 2.00% 4/1/204210   6,160    5,236 
Fannie Mae Pool #AX3703 4.00% 9/1/204210   3,863    3,716 
Fannie Mae Pool #AR1512 3.50% 1/1/204310   504    472 
Fannie Mae Pool #MA4908 6.00% 1/1/204310   63    64 
Fannie Mae Pool #AT0412 3.50% 3/1/204310   233    218 

 

The Bond Fund of America 33
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Federal agency mortgage-backed obligations (continued)          
Fannie Mae Pool #AT0300 3.50% 3/1/204310  USD65   $61 
Fannie Mae Pool #AT3954 3.50% 4/1/204310   108    101 
Fannie Mae Pool #AT2683 4.00% 5/1/204310   1,850    1,780 
Fannie Mae Pool #AT5898 3.00% 6/1/204310   15,542    14,042 
Fannie Mae Pool #AL3829 3.50% 6/1/204310   2,222    2,084 
Fannie Mae Pool #AT7161 3.50% 6/1/204310   788    736 
Fannie Mae Pool #AV0786 4.00% 11/1/204310   2,948    2,834 
Fannie Mae Pool #AL8421 3.50% 1/1/204410   12,795    11,983 
Fannie Mae Pool #AX0817 4.00% 9/1/204410   191    185 
Fannie Mae Pool #AX8521 3.50% 12/1/204410   329    307 
Fannie Mae Pool #AY1829 3.50% 12/1/204410   103    96 
Fannie Mae Pool #BE5009 3.50% 1/1/204510   691    644 
Fannie Mae Pool #BE5017 3.50% 2/1/204510   1,216    1,132 
Fannie Mae Pool #FM9416 3.50% 7/1/204510   6,953    6,472 
Fannie Mae Pool #AZ7366 4.00% 11/1/204510   17,072    16,328 
Fannie Mae Pool #AS6348 4.00% 12/1/204510   2,982    2,850 
Fannie Mae Pool #AS6839 4.00% 3/1/204610   3,845    3,674 
Fannie Mae Pool #BC1352 4.00% 3/1/204610   1,157    1,105 
Fannie Mae Pool #AL8522 3.50% 5/1/204610   29    27 
Fannie Mae Pool #BC8647 4.50% 6/1/204610   264    256 
Fannie Mae Pool #BD1968 4.00% 7/1/204610   32    31 
Fannie Mae Pool #BD1550 4.50% 7/1/204610   248    244 
Fannie Mae Pool #BD7600 4.50% 9/1/204610   79    77 
Fannie Mae Pool #BD9236 3.50% 10/1/204610   324    299 
Fannie Mae Pool #MA2809 4.50% 10/1/204610   708    673 
Fannie Mae Pool #MA2821 4.50% 10/1/204610   313    300 
Fannie Mae Pool #BD9248 4.50% 10/1/204610   227    222 
Fannie Mae Pool #AS8310 3.00% 11/1/204610   538    485 
Fannie Mae Pool #MA2833 3.00% 12/1/204610   36    33 
Fannie Mae Pool #BC9077 3.50% 12/1/204610   16,138    14,961 
Fannie Mae Pool #BD2440 3.50% 1/1/204710   1,752    1,622 
Fannie Mae Pool #BM1179 3.00% 4/1/204710   629    563 
Fannie Mae Pool #BH0876 4.50% 4/1/204710   2,468    2,424 
Fannie Mae Pool #MA3002 4.50% 4/1/204710   438    417 
Fannie Mae Pool #BE8740 3.50% 5/1/204710   1,084    1,004 
Fannie Mae Pool #BE8742 3.50% 5/1/204710   330    306 
Fannie Mae Pool #BH2846 3.50% 5/1/204710   153    142 
Fannie Mae Pool #BH2848 3.50% 5/1/204710   134    125 
Fannie Mae Pool #BH2847 3.50% 5/1/204710   68    63 
Fannie Mae Pool #BH3122 4.00% 6/1/204710   69    66 
Fannie Mae Pool #BD3554 4.00% 7/1/204710   902    855 
Fannie Mae Pool #256893 7.00% 8/1/204710   10    10 
Fannie Mae Pool #CA0453 4.00% 9/1/204710   6,264    5,977 
Fannie Mae Pool #CA0770 3.50% 11/1/204710   170    157 
Fannie Mae Pool #BJ3525 4.50% 11/1/204710   1,056    1,036 
Fannie Mae Pool #CA0854 3.50% 12/1/204710   12,967    11,975 
Fannie Mae Pool #MA3211 4.00% 12/1/204710   3,418    3,269 
Fannie Mae Pool #BJ5015 4.00% 12/1/204710   1,897    1,813 
Fannie Mae Pool #BM4413 4.50% 12/1/204710   4,823    4,736 
Fannie Mae Pool #BJ3558 4.50% 12/1/204710   1,638    1,608 
Fannie Mae Pool #BJ3581 4.50% 12/1/204710   535    526 
Fannie Mae Pool #CA1189 3.50% 2/1/204810   1,327    1,228 
Fannie Mae Pool #BK0163 4.50% 2/1/204810   1,334    1,307 
Fannie Mae Pool #BJ4901 3.50% 3/1/204810   825    764 
Fannie Mae Pool #CA1532 3.50% 4/1/204810   5,230    4,850 
Fannie Mae Pool #BK5232 4.00% 5/1/204810   1,010    966 
Fannie Mae Pool #BK6840 4.00% 6/1/204810   1,350    1,291 
Fannie Mae Pool #BF0293 3.00% 7/1/204810   6,609    5,892 
Fannie Mae Pool #CA2102 5.00% 7/1/204810   451    449 
Fannie Mae Pool #BF0318 3.50% 8/1/204810   31,124    28,754 
Fannie Mae Pool #BK9743 4.00% 8/1/204810   419    401 
Fannie Mae Pool #BK9761 4.50% 8/1/204810   274    269 
Fannie Mae Pool #CA2166 4.50% 8/1/204810   14    14 
Fannie Mae Pool #CA2850 4.00% 12/1/204810   2,491    2,396 
Fannie Mae Pool #BF0320 5.50% 1/1/204910   5,838    6,075 
Fannie Mae Pool #FM3280 3.50% 5/1/204910   1,819    1,694 
Fannie Mae Pool #BN6708 3.50% 6/1/204910   8,618    7,966 

 

34 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Federal agency mortgage-backed obligations (continued)          
Fannie Mae Pool #FM1062 3.50% 6/1/204910  USD8,528   $7,915 
Fannie Mae Pool #CA3807 3.00% 7/1/204910   1,245    1,113 
Fannie Mae Pool #CA3806 3.00% 7/1/204910   832    745 
Fannie Mae Pool #CA4021 3.50% 8/1/204910   24,156    22,290 
Fannie Mae Pool #BJ8411 3.50% 8/1/204910   2,253    2,084 
Fannie Mae Pool #FM2318 3.50% 9/1/204910   41,845    38,632 
Fannie Mae Pool #CA4151 3.50% 9/1/204910   11,180    10,425 
Fannie Mae Pool #FM1443 3.50% 9/1/204910   6,325    5,851 
Fannie Mae Pool #FM1913 4.00% 9/1/204910   1,626    1,552 
Fannie Mae Pool #FM1963 4.00% 11/1/204910   37,663    35,998 
Fannie Mae Pool #CA4802 3.50% 12/1/204910   23,499    21,749 
Fannie Mae Pool #CA5338 3.00% 3/1/205010   11,815    10,439 
Fannie Mae Pool #FM2664 3.50% 3/1/205010   27,114    25,008 
Fannie Mae Pool #CA5506 3.00% 4/1/205010   48,001    42,851 
Fannie Mae Pool #BP1948 3.00% 4/1/205010   15,935    14,168 
Fannie Mae Pool #BP1954 3.50% 4/1/205010   18,419    16,984 
Fannie Mae Pool #CA5968 2.50% 6/1/205010   43,895    37,735 
Fannie Mae Pool #CA6309 3.00% 7/1/205010   43,603    38,997 
Fannie Mae Pool #CA6349 3.00% 7/1/205010   14,564    12,909 
Fannie Mae Pool #CA6593 2.50% 8/1/205010   13,629    11,724 
Fannie Mae Pool #CA6740 3.00% 8/1/205010   8,644    7,659 
Fannie Mae Pool #BQ1226 2.00% 9/1/205010   18,416    15,160 
Fannie Mae Pool #BP6715 2.00% 9/1/205010   7    6 
Fannie Mae Pool #FM4256 2.50% 9/1/205010   32,647    28,118 
Fannie Mae Pool #CA7028 2.50% 9/1/205010   7,305    6,283 
Fannie Mae Pool #CA7052 3.00% 9/1/205010   3,247    2,879 
Fannie Mae Pool #CA7325 2.00% 10/1/205010   37,311    30,912 
Fannie Mae Pool #CA7257 2.50% 10/1/205010   2,566    2,208 
Fannie Mae Pool #CA7381 3.00% 10/1/205010   13,299    11,784 
Fannie Mae Pool #CA7739 2.50% 11/1/205010   97,367    82,789 
Fannie Mae Pool #CA7603 2.50% 11/1/205010   55,846    47,729 
Fannie Mae Pool #CA7599 2.50% 11/1/205010   4,590    3,952 
Fannie Mae Pool #MA4208 2.00% 12/1/205010   88,777    73,089 
Fannie Mae Pool #CA8108 2.00% 12/1/205010   1,058    871 
Fannie Mae Pool #CA8130 2.50% 12/1/205010   20,218    17,280 
Fannie Mae Pool #FM5173 2.50% 12/1/205010   9,181    7,841 
Fannie Mae Pool #CA8044 2.50% 12/1/205010   8,269    7,068 
Fannie Mae Pool #CA8285 3.00% 12/1/205010   55,581    49,684 
Fannie Mae Pool #CA8046 3.00% 12/1/205010   38,201    34,257 
Fannie Mae Pool #FM5166 3.00% 12/1/205010   8,977    7,954 
Fannie Mae Pool #MA4237 2.00% 1/1/205110   254,825    209,780 
Fannie Mae Pool #CA8623 3.00% 1/1/205110   91,870    81,265 
Fannie Mae Pool #BR2666 2.00% 2/1/205110   3,407    2,818 
Fannie Mae Pool #CA8820 2.00% 2/1/205110   2,019    1,660 
Fannie Mae Pool #CA8828 2.50% 2/1/205110   41,017    35,291 
Fannie Mae Pool #FM5778 2.50% 2/1/205110   10,006    8,545 
Fannie Mae Pool #CA8969 3.00% 2/1/205110   5,018    4,445 
Fannie Mae Pool #FM6548 2.00% 3/1/205110   36,817    30,500 
Fannie Mae Pool #MA4282 2.50% 3/1/205110   10,897    9,299 
Fannie Mae Pool #CA9391 3.00% 3/1/205110   194,497    172,103 
Fannie Mae Pool #CB0290 2.00% 4/1/205110   165,735    136,272 
Fannie Mae Pool #MA4305 2.00% 4/1/205110   221    181 
Fannie Mae Pool #MA4306 2.50% 4/1/205110   30,779    26,259 
Fannie Mae Pool #CB0041 3.00% 4/1/205110   56,237    50,103 
Fannie Mae Pool #CB0191 3.00% 4/1/205110   25,755    22,822 
Fannie Mae Pool #CB0046 3.00% 4/1/205110   8,942    7,905 
Fannie Mae Pool #CB0193 3.00% 4/1/205110   3,168    2,807 
Fannie Mae Pool #CB0449 2.00% 5/1/205110   42,634    34,924 
Fannie Mae Pool #BR1035 2.00% 5/1/205110   131    107 
Fannie Mae Pool #CB0457 2.50% 5/1/205110   5,155    4,406 
Fannie Mae Pool #FM7803 2.00% 6/1/205110   4,377    3,621 
Fannie Mae Pool #BT3317 2.50% 6/1/205110   5,454    4,669 
Fannie Mae Pool #FM7694 3.00% 6/1/205110   19,884    17,673 
Fannie Mae Pool #FM7687 3.00% 6/1/205110   7,780    6,922 
Fannie Mae Pool #FM7909 3.00% 6/1/205110   2,507    2,221 
Fannie Mae Pool #BR2095 2.50% 7/1/205110   55,497    47,326 
Fannie Mae Pool #FM7900 2.50% 7/1/205110   4,121    3,540 

 

The Bond Fund of America 35
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Federal agency mortgage-backed obligations (continued)          
Fannie Mae Pool #BR2219 2.50% 8/1/205110  USD114,409   $97,564 
Fannie Mae Pool #FM8442 2.50% 8/1/205110   61,002    52,023 
Fannie Mae Pool #FS1057 2.50% 8/1/205110   1,077    919 
Fannie Mae Pool #CB1304 3.00% 8/1/205110   20,571    18,299 
Fannie Mae Pool #CB1527 2.50% 9/1/205110   15,024    12,830 
Fannie Mae Pool #BT4537 3.50% 9/1/205110   406    371 
Fannie Mae Pool #FS4628 3.00% 10/1/205110   28,296    25,072 
Fannie Mae Pool #BU1498 3.50% 10/1/205110   347    317 
Fannie Mae Pool #MA4465 2.00% 11/1/205110   45,182    36,946 
Fannie Mae Pool #FS0965 2.00% 11/1/205110   1,047    862 
Fannie Mae Pool #FM9492 2.50% 11/1/205110   21,933    18,848 
Fannie Mae Pool #FM9694 2.50% 11/1/205110   11,579    9,988 
Fannie Mae Pool #FM9632 3.00% 11/1/205110   16,321    14,502 
Fannie Mae Pool #FM9810 3.00% 11/1/205110   7,999    7,074 
Fannie Mae Pool #FM9631 3.00% 11/1/205110   6,940    6,165 
Fannie Mae Pool #CB2292 3.00% 11/1/205110   2,016    1,794 
Fannie Mae Pool #BU3013 3.50% 11/1/205110   411    376 
Fannie Mae Pool #BU5976 4.00% 11/1/205110   61    58 
Fannie Mae Pool #CB2319 2.50% 12/1/205110   63,248    54,248 
Fannie Mae Pool #FS0433 2.50% 12/1/205110   55,063    47,781 
Fannie Mae Pool #CB2371 2.50% 12/1/205110   38,577    33,077 
Fannie Mae Pool #CB2372 2.50% 12/1/205110   30,346    26,003 
Fannie Mae Pool #BT9510 2.50% 12/1/205110   24,657    21,168 
Fannie Mae Pool #BT9483 2.50% 12/1/205110   23,807    20,428 
Fannie Mae Pool #CB2286 2.50% 12/1/205110   18,570    15,911 
Fannie Mae Pool #FM9804 2.50% 12/1/205110   12,400    10,663 
Fannie Mae Pool #CB2373 2.50% 12/1/205110   11,487    9,846 
Fannie Mae Pool #CB2375 2.50% 12/1/205110   10,167    8,698 
Fannie Mae Pool #MA4493 2.50% 12/1/205110   3,297    2,803 
Fannie Mae Pool #CB2414 3.00% 12/1/205110   33,871    30,149 
Fannie Mae Pool #FM9976 3.00% 12/1/205110   15,747    14,057 
Fannie Mae Pool #CB2293 3.00% 12/1/205110   1,991    1,770 
Fannie Mae Pool #BT9498 3.50% 12/1/205110   9,569    8,750 
Fannie Mae Pool #BU8404 3.50% 12/1/205110   495    452 
Fannie Mae Pool #BU8481 3.50% 12/1/205110   27    25 
Fannie Mae Pool #CB2544 3.00% 1/1/205210   33,204    29,493 
Fannie Mae Pool #FS0454 3.00% 1/1/205210   8,212    7,266 
Fannie Mae Pool #FS0972 3.50% 1/1/205210   29,081    26,984 
Fannie Mae Pool #FS0268 3.50% 1/1/205210   1,022    932 
Fannie Mae Pool #BV0783 3.50% 1/1/205210   860    796 
Fannie Mae Pool #BV0790 3.50% 1/1/205210   719    656 
Fannie Mae Pool #BU7425 3.50% 1/1/205210   395    361 
Fannie Mae Pool #BU7427 3.50% 1/1/205210   57    53 
Fannie Mae Pool #BV3076 2.00% 2/1/205210   141,035    115,335 
Fannie Mae Pool #BV3080 2.00% 2/1/205210   114,930    94,006 
Fannie Mae Pool #CB2765 2.00% 2/1/205210   59,079    48,550 
Fannie Mae Pool #BU1330 2.50% 2/1/205210   22,628    19,426 
Fannie Mae Pool #BU7285 2.50% 2/1/205210   1,664    1,425 
Fannie Mae Pool #BU7294 3.50% 2/1/205210   59    53 
Fannie Mae Pool #BV3316 3.50% 3/1/205210   47    43 
Fannie Mae Pool #FS2448 2.00% 5/1/205210   22,435    18,365 
Fannie Mae Pool #BV9644 2.50% 5/1/205210   392    333 
Fannie Mae Pool #BV7810 3.50% 5/1/205210   293    267 
Fannie Mae Pool #CB4135 5.00% 7/1/205210   187    183 
Fannie Mae Pool #BW5402 5.50% 7/1/205210   621    621 
Fannie Mae Pool #MA4737 5.00% 8/1/205210   713    700 
Fannie Mae Pool #CB5019 5.00% 8/1/205210   203    199 
Fannie Mae Pool #MA4732 4.00% 9/1/205210   137    129 
Fannie Mae Pool #BW9049 4.50% 9/1/205210   445    430 
Fannie Mae Pool #BW5232 4.50% 10/1/205210   3,361    3,233 
Fannie Mae Pool #CB5405 4.50% 10/1/205210   3,255    3,131 
Fannie Mae Pool #BW8175 4.50% 10/1/205210   2,154    2,073 
Fannie Mae Pool #BW1289 5.50% 10/1/205210   24,907    24,871 
Fannie Mae Pool #BW1243 5.50% 10/1/205210   23,291    23,267 
Fannie Mae Pool #BW5182 4.50% 11/1/205210   2,763    2,658 
Fannie Mae Pool #BX1748 4.50% 12/1/205210   2,986    2,872 
Fannie Mae Pool #MA4842 5.50% 12/1/205210   43,091    43,030 

 

36 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Federal agency mortgage-backed obligations (continued)          
Fannie Mae Pool #BX2476 5.50% 12/1/205210  USD7,186   $7,176 
Fannie Mae Pool #CB5778 6.00% 12/1/205210   1,577    1,594 
Fannie Mae Pool #MA4877 6.50% 12/1/205210   6    6 
Fannie Mae Pool #FS4947 4.00% 1/1/205310   225    211 
Fannie Mae Pool #MA4867 4.50% 1/1/205310   13,140    12,641 
Fannie Mae Pool #BX6633 5.50% 1/1/205310   500    499 
Fannie Mae Pool #MA4894 6.00% 1/1/205310   297,912    300,661 
Fannie Mae Pool #BX5931 6.00% 1/1/205310   5,786    5,839 
Fannie Mae Pool #BX5040 6.00% 1/1/205310   2,910    2,937 
Fannie Mae Pool #BX4070 6.00% 1/1/205310   2,056    2,077 
Fannie Mae Pool #BX5666 6.00% 1/1/205310   1,306    1,318 
Fannie Mae Pool #FS3411 6.00% 1/1/205310   56    57 
Fannie Mae Pool #CB5525 6.00% 1/1/205310   53    53 
Fannie Mae Pool #MA4917 4.50% 2/1/205310   2,742    2,638 
Fannie Mae Pool #MA4919 5.50% 2/1/205310   54,788    54,552 
Fannie Mae Pool #BX6216 5.50% 2/1/205310   858    856 
Fannie Mae Pool #MA4920 6.00% 2/1/205310   219,296    221,319 
Fannie Mae Pool #BX8515 5.50% 3/1/205310   4,984    4,967 
Fannie Mae Pool #BX7779 5.50% 3/1/205310   4,000    3,983 
Fannie Mae Pool #BX8514 5.50% 3/1/205310   2,000    1,994 
Fannie Mae Pool #BX9431 5.50% 3/1/205310   2,000    1,991 
Fannie Mae Pool #FS4774 5.50% 3/1/205310   945    941 
Fannie Mae Pool #BX8389 5.50% 3/1/205310   500    498 
Fannie Mae Pool #FS4152 5.50% 3/1/205310   386    384 
Fannie Mae Pool #BX8835 5.50% 3/1/205310   357    355 
Fannie Mae Pool #MA4942 6.00% 3/1/205310   272,883    275,401 
Fannie Mae Pool #MA4977 4.50% 4/1/205310   4,702    4,523 
Fannie Mae Pool #MA4979 5.50% 4/1/205310   90,619    90,235 
Fannie Mae Pool #BY0003 5.50% 4/1/205310   6,999    6,970 
Fannie Mae Pool #BY0007 5.50% 4/1/205310   3,028    3,015 
Fannie Mae Pool #BX8556 5.50% 4/1/205310   2,000    1,994 
Fannie Mae Pool #BX9116 5.50% 4/1/205310   2,000    1,991 
Fannie Mae Pool #BW5286 5.50% 4/1/205310   52    52 
Fannie Mae Pool #MA4980 6.00% 4/1/205310   169,663    171,228 
Fannie Mae Pool #BW5278 6.00% 4/1/205310   3,242    3,272 
Fannie Mae Pool #MA4981 6.50% 4/1/205310   9,562    9,770 
Fannie Mae Pool #CB6106 6.50% 4/1/205310   6,324    6,525 
Fannie Mae Pool #FS4563 5.00% 5/1/205310   11,933    11,706 
Fannie Mae Pool #MA5010 5.50% 5/1/205310   148,357    147,728 
Fannie Mae Pool #BY1223 5.50% 5/1/205310   7,580    7,548 
Fannie Mae Pool #BY0204 5.50% 5/1/205310   4,000    3,983 
Fannie Mae Pool #BY0091 5.50% 5/1/205310   3,000    2,987 
Fannie Mae Pool #BY3208 5.50% 5/1/205310   250    249 
Fannie Mae Pool #MA5011 6.00% 5/1/205310   527,613    532,481 
Fannie Mae Pool #MA5039 5.50% 6/1/205310   172,123    171,393 
Fannie Mae Pool #FS5192 5.50% 6/1/205310   70,029    69,871 
Fannie Mae Pool #BY3337 5.50% 6/1/205310   6,614    6,586 
Fannie Mae Pool #BY4223 5.50% 6/1/205310   236    235 
Fannie Mae Pool #MA5040 6.00% 6/1/205310   125,837    126,999 
Fannie Mae Pool #CB6485 6.00% 6/1/205310   34,001    34,315 
Fannie Mae Pool #CB6486 6.00% 6/1/205310   21,033    21,309 
Fannie Mae Pool #CB6465 6.00% 6/1/205310   15,013    15,191 
Fannie Mae Pool #BO9414 6.00% 6/1/205310   5,390    5,439 
Fannie Mae Pool #BY4290 6.00% 6/1/205310   1,000    1,009 
Fannie Mae Pool #CB6491 6.50% 6/1/205310   30,542    31,363 
Fannie Mae Pool #MA5044 6.50% 6/1/205310   18,054    18,446 
Fannie Mae Pool #FS4652 6.50% 6/1/205310   12,594    12,875 
Fannie Mae Pool #CB6490 6.50% 6/1/205310   10,349    10,577 
Fannie Mae Pool #CB6468 6.50% 6/1/205310   7,549    7,734 
Fannie Mae Pool #MA5071 5.00% 7/1/205310   102,758    100,746 
Fannie Mae Pool #MA5072 5.50% 7/1/205310   273,250    272,091 
Fannie Mae Pool #MA5073 6.00% 7/1/205310   25,701    25,938 
Fannie Mae Pool #BF0145 3.50% 3/1/205710   14,927    13,697 
Fannie Mae Pool #BF0264 3.50% 5/1/205810   14,642    13,362 
Fannie Mae Pool #BF0299 3.50% 8/1/205810   24,342    22,215 
Fannie Mae Pool #BF0379 3.50% 4/1/205910   37,540    34,259 
Fannie Mae Pool #BM6693 3.50% 8/1/205910   27,211    24,836 

 

The Bond Fund of America 37
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Federal agency mortgage-backed obligations (continued)          
Fannie Mae Pool #BF0481 3.50% 6/1/206010  USD61,595   $56,218 
Fannie Mae Pool #BF0480 3.50% 6/1/206010   39,538    36,283 
Fannie Mae Pool #BF0497 3.00% 7/1/206010   48,584    41,508 
Fannie Mae Pool #BF0548 3.00% 7/1/206110   24,454    21,217 
Fannie Mae Pool #BF0563 4.00% 9/1/206110   11,651    11,057 
Fannie Mae Pool #BF0585 4.50% 12/1/206110   8,840    8,533 
Fannie Mae, Series 2001-4, Class GA, 9.00% 4/17/20253,10   6    6 
Fannie Mae, Series 2001-4, Class NA, 9.00% 10/25/20253,10   6    6 
Fannie Mae, Series 1998-W5, Class B3, 6.50% 7/25/20282,10   240    90 
Fannie Mae, Series 2002-W7, Class A5, 7.50% 2/25/202910   46    49 
Fannie Mae, Series 2001-25, Class ZA, 6.50% 6/25/203110   337    338 
Fannie Mae, Series 2001-50, Class BA, 7.00% 10/25/204110   128    130 
Fannie Mae, Series 2002-W3, Class A5, 7.50% 11/25/204110   481    511 
Fannie Mae, Series 2001-T10, Class A1, 7.00% 12/25/204110   789    798 
Fannie Mae, Series 2002-W1, Class 2A, 4.782% 2/25/20423,10   637    614 
Fannie Mae, Series 2017-M3, Class A2, Multi Family, 2.554% 12/25/20263,10   7    7 
Fannie Mae, Series 2017-M12, Class A2, Multi Family, 3.165% 6/25/20273,10   3,292    3,107 
Fannie Mae, Series 2017-M15, Class A2, Multi Family, 3.06% 9/25/20273,10   3,426    3,214 
Fannie Mae, Series 2019-M5, Class A2, Multi Family, 3.273% 1/25/202910   421    394 
Fannie Mae, Series 2018-M12, Class A2, Multi Family, 3.758% 8/25/20303,10   3,050    2,878 
Fannie Mae, Series 2006-51, Class PO, principal only, 0% 3/25/203610   259    237 
Fannie Mae, Series 2006-32, Class OA, principal only, 0% 5/25/203610   343    284 
Fannie Mae, Series 2006-96, Class OP, principal only, 0% 10/25/203610   119    103 
Freddie Mac Pool #ZA6869 5.50% 9/1/202410   1    1 
Freddie Mac Pool #ZA1886 5.00% 6/1/202510   77    76 
Freddie Mac Pool #ZS8948 6.50% 3/1/202610   13    13 
Freddie Mac Pool #ZS8801 6.50% 3/1/202610   10    10 
Freddie Mac Pool #ZA1940 6.50% 4/1/202610   11    12 
Freddie Mac Pool #ZA1955 6.50% 9/1/202610   3    3 
Freddie Mac Pool #ZA1959 6.50% 10/1/202610   3    3 
Freddie Mac Pool #ZA0583 6.50% 3/1/202910   6    6 
Freddie Mac Pool #D98356 4.50% 5/1/203010   50    49 
Freddie Mac Pool #ZT0799 5.00% 9/1/203110   70    70 
Freddie Mac Pool #A15120 5.50% 10/1/203310   2    2 
Freddie Mac Pool #G30911 4.00% 3/1/203610   2,482    2,396 
Freddie Mac Pool #K93532 4.00% 4/1/203610   755    729 
Freddie Mac Pool #C91883 4.00% 6/1/203610   377    364 
Freddie Mac Pool #A56076 5.50% 1/1/203710   7    7 
Freddie Mac Pool #C91917 3.00% 2/1/203710   496    459 
Freddie Mac Pool #G04804 4.50% 5/1/203710   1,226    1,212 
Freddie Mac Pool #C91948 4.00% 7/1/203710   2,963    2,860 
Freddie Mac Pool #ZS1566 6.50% 8/1/203710   1    2 
Freddie Mac Pool #G03695 5.50% 11/1/203710   2    2 
Freddie Mac Pool #G08248 5.50% 2/1/203810   29    30 
Freddie Mac Pool #ZT1449 3.00% 6/1/203810   44,550    41,110 
Freddie Mac Pool #G05196 5.50% 10/1/203810   2    2 
Freddie Mac Pool #G05267 5.50% 12/1/203810   2    2 
Freddie Mac Pool #A87873 5.00% 8/1/203910   2,187    2,194 
Freddie Mac Pool #G06020 5.50% 12/1/203910   4    4 
Freddie Mac Pool #G05860 5.50% 2/1/204010   12    12 
Freddie Mac Pool #G05937 4.50% 8/1/204010   4,594    4,545 
Freddie Mac Pool #RB5071 2.00% 9/1/204010   7,236    6,210 
Freddie Mac Pool #A93948 4.50% 9/1/204010   6    6 
Freddie Mac Pool #SC0113 2.00% 12/1/204010   6,069    5,200 
Freddie Mac Pool #RB5105 2.00% 3/1/204110   127,954    109,614 
Freddie Mac Pool #SC0149 2.00% 3/1/204110   24,597    21,065 
Freddie Mac Pool #G06868 4.50% 4/1/204110   5    5 
Freddie Mac Pool #RB5114 2.00% 6/1/204110   118,763    101,446 
Freddie Mac Pool #RB0544 2.00% 6/1/204110   29,385    25,119 
Freddie Mac Pool #SC0169 2.00% 6/1/204110   10,592    9,041 
Freddie Mac Pool #G06648 5.00% 6/1/204110   610    615 
Freddie Mac Pool #Q01658 5.00% 6/1/204110   229    228 
Freddie Mac Pool #G06841 5.50% 6/1/204110   16    16 
Freddie Mac Pool #RB5118 2.00% 7/1/204110   147,661    126,037 
Freddie Mac Pool #SC0148 2.00% 7/1/204110   80,360    68,642 
Freddie Mac Pool #Q01992 4.50% 7/1/204110   37    36 
Freddie Mac Pool #RB5121 2.00% 8/1/204110   230,217    196,361 

 

38 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Federal agency mortgage-backed obligations (continued)          
Freddie Mac Pool #Q02705 4.50% 8/1/204110  USD1,974   $1,953 
Freddie Mac Pool #G06956 4.50% 8/1/204110   481    476 
Freddie Mac Pool #G06769 4.50% 8/1/204110   201    198 
Freddie Mac Pool #SC0175 2.00% 9/1/204110   20,944    17,890 
Freddie Mac Pool #QK1181 2.00% 11/1/204110   11,788    10,030 
Freddie Mac Pool #RB5138 2.00% 12/1/204110   78,844    67,053 
Freddie Mac Pool #RB5145 2.00% 2/1/204210   16,059    13,656 
Freddie Mac Pool #RB5148 2.00% 3/1/204210   63,805    54,245 
Freddie Mac Pool #RB5153 2.00% 4/1/204210   20,343    17,228 
Freddie Mac Pool #Q15874 4.00% 2/1/204310   44    42 
Freddie Mac Pool #Q17696 3.50% 4/1/204310   552    518 
Freddie Mac Pool #Q18236 3.50% 5/1/204310   762    715 
Freddie Mac Pool #Q19133 3.50% 6/1/204310   618    577 
Freddie Mac Pool #Q22946 4.00% 11/1/204310   4,301    4,116 
Freddie Mac Pool #Q28558 3.50% 9/1/204410   2,685    2,506 
Freddie Mac Pool #760012 3.113% 4/1/20453,10   614    595 
Freddie Mac Pool #760013 3.208% 4/1/20453,10   352    343 
Freddie Mac Pool #760014 2.73% 8/1/20453,10   1,731    1,648 
Freddie Mac Pool #G60138 3.50% 8/1/204510   563    526 
Freddie Mac Pool #G60238 3.50% 10/1/204510   13,573    12,654 
Freddie Mac Pool #V81992 4.00% 10/1/204510   518    493 
Freddie Mac Pool #G60344 4.00% 12/1/204510   10,380    9,942 
Freddie Mac Pool #T65375 3.50% 7/1/204610   105    96 
Freddie Mac Pool #Q42034 4.50% 7/1/204610   197    193 
Freddie Mac Pool #G67700 3.50% 8/1/204610   5,013    4,671 
Freddie Mac Pool #Q42633 4.50% 8/1/204610   262    256 
Freddie Mac Pool #Q43312 4.50% 9/1/204610   473    462 
Freddie Mac Pool #Q43461 4.50% 10/1/204610   260    255 
Freddie Mac Pool #Q44689 4.50% 12/1/204610   365    357 
Freddie Mac Pool #760015 2.568% 1/1/20473,10   1,938    1,838 
Freddie Mac Pool #Q47615 3.50% 4/1/204710   1,001    925 
Freddie Mac Pool #Q47620 4.00% 4/1/204710   7,477    7,183 
Freddie Mac Pool #Q47828 4.50% 5/1/204710   253    247 
Freddie Mac Pool #ZS4735 3.50% 9/1/204710   71    65 
Freddie Mac Pool #Q51622 3.50% 10/1/204710   1,162    1,075 
Freddie Mac Pool #Q52069 3.50% 11/1/204710   1,445    1,338 
Freddie Mac Pool #G61733 3.00% 12/1/204710   4,917    4,409 
Freddie Mac Pool #ZS4747 3.50% 12/1/204710   8,057    7,440 
Freddie Mac Pool #Q52613 4.00% 12/1/204710   4,650    4,451 
Freddie Mac Pool #G08793 4.00% 12/1/204710   3,017    2,881 
Freddie Mac Pool #Q52596 4.50% 12/1/204710   1,608    1,579 
Freddie Mac Pool #Q53878 4.00% 1/1/204810   4,429    4,238 
Freddie Mac Pool #G67709 3.50% 3/1/204810   24,333    22,558 
Freddie Mac Pool #Q54709 3.50% 3/1/204810   1,068    987 
Freddie Mac Pool #Q54701 3.50% 3/1/204810   1,029    951 
Freddie Mac Pool #Q54700 3.50% 3/1/204810   783    725 
Freddie Mac Pool #Q54781 3.50% 3/1/204810   700    649 
Freddie Mac Pool #Q55056 3.50% 3/1/204810   671    621 
Freddie Mac Pool #Q54782 3.50% 3/1/204810   635    587 
Freddie Mac Pool #Q54699 3.50% 3/1/204810   403    374 
Freddie Mac Pool #Q54831 3.50% 3/1/204810   343    319 
Freddie Mac Pool #Q54698 3.50% 3/1/204810   286    267 
Freddie Mac Pool #G67711 4.00% 3/1/204810   22,920    21,930 
Freddie Mac Pool #G08805 4.00% 3/1/204810   1,075    1,024 
Freddie Mac Pool #Q55060 3.50% 4/1/204810   220    203 
Freddie Mac Pool #Q55971 4.00% 5/1/204810   974    933 
Freddie Mac Pool #Q56175 4.00% 5/1/204810   884    847 
Freddie Mac Pool #Q55970 4.00% 5/1/204810   428    412 
Freddie Mac Pool #Q56590 3.50% 6/1/204810   545    504 
Freddie Mac Pool #Q56589 3.50% 6/1/204810   338    313 
Freddie Mac Pool #Q56591 3.50% 6/1/204810   189    176 
Freddie Mac Pool #Q56599 4.00% 6/1/204810   1,374    1,316 
Freddie Mac Pool #Q57242 4.50% 7/1/204810   358    350 
Freddie Mac Pool #G61628 3.50% 9/1/204810   145    134 
Freddie Mac Pool #Q58411 4.50% 9/1/204810   2,742    2,693 
Freddie Mac Pool #Q58436 4.50% 9/1/204810   1,522    1,493 
Freddie Mac Pool #Q58378 4.50% 9/1/204810   1,045    1,023 

 

The Bond Fund of America 39
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Federal agency mortgage-backed obligations (continued)          
Freddie Mac Pool #ZA5889 4.00% 11/1/204810  USD1,656   $1,580 
Freddie Mac Pool #QA0284 3.50% 6/1/204910   3,643    3,370 
Freddie Mac Pool #QA1885 3.50% 8/1/204910   4,859    4,487 
Freddie Mac Pool #QA2748 3.50% 9/1/204910   975    902 
Freddie Mac Pool #SD7508 3.50% 10/1/204910   61,090    56,438 
Freddie Mac Pool #RA1580 3.50% 10/1/204910   7,781    7,256 
Freddie Mac Pool #RA1463 3.50% 10/1/204910   7,580    7,068 
Freddie Mac Pool #QA4692 3.00% 11/1/204910   18,937    16,905 
Freddie Mac Pool #QA4673 3.00% 11/1/204910   7,897    7,057 
Freddie Mac Pool #SD0185 3.00% 12/1/204910   4,585    4,089 
Freddie Mac Pool #QA5125 3.50% 12/1/204910   22,512    20,836 
Freddie Mac Pool #SD0234 3.00% 1/1/205010   28,820    25,699 
Freddie Mac Pool #SD0187 3.00% 1/1/205010   12,576    11,239 
Freddie Mac Pool #RA2319 3.00% 3/1/205010   18,730    16,548 
Freddie Mac Pool #RA2596 2.50% 5/1/205010   3,931    3,379 
Freddie Mac Pool #SD7517 3.00% 5/1/205010   29,440    26,335 
Freddie Mac Pool #QB1368 2.50% 7/1/205010   39,895    34,361 
Freddie Mac Pool #RA3384 3.00% 8/1/205010   3,368    2,985 
Freddie Mac Pool #SD8090 2.00% 9/1/205010   9,087    7,482 
Freddie Mac Pool #RA3506 3.00% 9/1/205010   14,895    13,197 
Freddie Mac Pool #SD7525 2.50% 10/1/205010   37,823    32,576 
Freddie Mac Pool #SD8106 2.00% 11/1/205010   35,324    29,081 
Freddie Mac Pool #RA4070 2.50% 11/1/205010   60,662    51,844 
Freddie Mac Pool #RA3987 2.50% 11/1/205010   23,745    20,294 
Freddie Mac Pool #RA4352 2.00% 1/1/205110   1,872    1,537 
Freddie Mac Pool #QB8605 2.00% 2/1/205110   3,663    3,030 
Freddie Mac Pool #SD8128 2.00% 2/1/205110   768    630 
Freddie Mac Pool #SD7535 2.50% 2/1/205110   4,363    3,756 
Freddie Mac Pool #RA4658 3.00% 2/1/205110   41,200    36,680 
Freddie Mac Pool #SD8134 2.00% 3/1/205110   65,904    54,050 
Freddie Mac Pool #RA5287 2.00% 5/1/205110   34,748    28,549 
Freddie Mac Pool #RA5288 2.00% 5/1/205110   30,701    25,223 
Freddie Mac Pool #RA5259 2.50% 5/1/205110   5,051    4,316 
Freddie Mac Pool #RA5267 3.00% 5/1/205110   9,547    8,460 
Freddie Mac Pool #SD1852 2.50% 6/1/205110   92,954    79,279 
Freddie Mac Pool #QC2817 2.50% 6/1/205110   16,859    14,437 
Freddie Mac Pool #SD7544 3.00% 7/1/205110   86,463    77,012 
Freddie Mac Pool #SD7545 2.50% 9/1/205110   68,634    59,017 
Freddie Mac Pool #RA5901 3.00% 9/1/205110   9,849    8,715 
Freddie Mac Pool #RA5971 3.00% 9/1/205110   4,342    3,863 
Freddie Mac Pool #QC7626 3.00% 9/1/205110   824    730 
Freddie Mac Pool #SD8172 2.00% 10/1/205110   56,895    46,524 
Freddie Mac Pool #SD2880 3.00% 10/1/205110   55,371    49,047 
Freddie Mac Pool #SD0734 3.00% 10/1/205110   26,233    23,335 
Freddie Mac Pool #RA6406 2.00% 11/1/205110   136,771    112,080 
Freddie Mac Pool #SD7548 2.50% 11/1/205110   14,645    12,567 
Freddie Mac Pool #SD1385 2.50% 11/1/205110   11,054    9,493 
Freddie Mac Pool #RA6411 2.50% 11/1/205110   887    754 
Freddie Mac Pool #RA6347 3.00% 11/1/205110   10,995    9,728 
Freddie Mac Pool #RA6483 2.50% 12/1/205110   8,734    7,472 
Freddie Mac Pool #QD1946 3.50% 12/1/205110   305    278 
Freddie Mac Pool #SD7552 2.50% 1/1/205210   76,103    65,213 
Freddie Mac Pool #SD0855 2.50% 1/1/205210   31,214    26,538 
Freddie Mac Pool #QD5941 2.50% 1/1/205210   1,450    1,242 
Freddie Mac Pool #SD0813 3.00% 1/1/205210   44,393    39,471 
Freddie Mac Pool #SD0803 3.00% 1/1/205210   1,843    1,629 
Freddie Mac Pool #QD7321 3.50% 1/1/205210   357    326 
Freddie Mac Pool #SD7550 3.00% 2/1/205210   63,550    56,727 
Freddie Mac Pool #SD0873 3.50% 2/1/205210   26,440    24,445 
Freddie Mac Pool #QD7089 3.50% 2/1/205210   5,860    5,352 
Freddie Mac Pool #SD1450 2.50% 3/1/205210   2,799    2,403 
Freddie Mac Pool #SD7553 3.00% 3/1/205210   33,671    29,955 
Freddie Mac Pool #QD9030 3.50% 3/1/205210   903    825 
Freddie Mac Pool #QE0562 3.50% 3/1/205210   64    59 
Freddie Mac Pool #QD8208 3.50% 3/1/205210   43    40 
Freddie Mac Pool #QD9527 4.00% 3/1/205210   22    21 
Freddie Mac Pool #SD7554 2.50% 4/1/205210   29,073    24,941 

 

40 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Federal agency mortgage-backed obligations (continued)          
Freddie Mac Pool #QD9911 2.50% 4/1/205210  USD214   $181 
Freddie Mac Pool #QE0917 3.50% 4/1/205210   505    461 
Freddie Mac Pool #QE0316 3.50% 4/1/205210   41    37 
Freddie Mac Pool #8D0226 2.524% 5/1/20523,10   9,427    8,366 
Freddie Mac Pool #SD8214 3.50% 5/1/205210   16,593    15,134 
Freddie Mac Pool #QE8663 3.50% 5/1/205210   994    907 
Freddie Mac Pool #QE5301 3.50% 5/1/205210   824    752 
Freddie Mac Pool #QE5589 3.50% 5/1/205210   723    660 
Freddie Mac Pool #SD1318 3.50% 6/1/205210   967    883 
Freddie Mac Pool #QE3580 3.50% 6/1/205210   419    382 
Freddie Mac Pool #QE4273 3.50% 6/1/205210   87    79 
Freddie Mac Pool #QE4383 4.00% 6/1/205210   895    842 
Freddie Mac Pool #RA7556 4.50% 6/1/205210   26,448    25,449 
Freddie Mac Pool #RA7502 5.00% 6/1/205210   136    133 
Freddie Mac Pool #QE6185 5.00% 7/1/205210   717    705 
Freddie Mac Pool #RA7618 5.00% 7/1/205210   392    385 
Freddie Mac Pool #SD7556 3.00% 8/1/205210   31,392    27,875 
Freddie Mac Pool #QE7539 4.50% 8/1/205210   14,471    13,925 
Freddie Mac Pool #QE8282 5.00% 8/1/205210   28    27 
Freddie Mac Pool #QE7987 5.50% 8/1/205210   358    358 
Freddie Mac Pool #RA7938 5.00% 9/1/205210   10,256    10,064 
Freddie Mac Pool #QF2221 4.00% 10/1/205210   4,881    4,587 
Freddie Mac Pool #QF2223 4.00% 10/1/205210   336    316 
Freddie Mac Pool #QF1254 4.50% 10/1/205210   21,704    20,882 
Freddie Mac Pool #QF2368 4.50% 10/1/205210   3,129    3,010 
Freddie Mac Pool #QF2009 4.50% 10/1/205210   351    338 
Freddie Mac Pool #SD1896 4.00% 11/1/205210   135,766    129,383 
Freddie Mac Pool #SD1894 4.00% 11/1/205210   47,370    45,352 
Freddie Mac Pool #QF2960 4.50% 11/1/205210   2,843    2,736 
Freddie Mac Pool #SD2948 5.50% 11/1/205210   64,057    63,832 
Freddie Mac Pool #SD8276 5.00% 12/1/205210   158,334    155,281 
Freddie Mac Pool #SD1961 5.50% 12/1/205210   11,256    11,240 
Freddie Mac Pool #SD8287 4.50% 1/1/205310   10,245    9,856 
Freddie Mac Pool #SD8288 5.00% 1/1/205310   1,616    1,584 
Freddie Mac Pool #SD8290 6.00% 1/1/205310   376,712    380,188 
Freddie Mac Pool #QF6121 6.00% 1/1/205310   661    667 
Freddie Mac Pool #SD2246 6.00% 1/1/205310   68    68 
Freddie Mac Pool #QF7774 5.50% 2/1/205310   6,248    6,222 
Freddie Mac Pool #QF7144 5.50% 2/1/205310   5,403    5,391 
Freddie Mac Pool #QF7483 5.50% 2/1/205310   922    918 
Freddie Mac Pool #QF8331 5.50% 2/1/205310   606    605 
Freddie Mac Pool #SD8301 6.00% 2/1/205310   99,892    100,814 
Freddie Mac Pool #SD2618 6.00% 2/1/205310   64    65 
Freddie Mac Pool #SD8306 4.50% 3/1/205310   401    386 
Freddie Mac Pool #QF8936 4.50% 3/1/205310   245    236 
Freddie Mac Pool #QF8462 5.50% 3/1/205310   24,371    24,268 
Freddie Mac Pool #QF9076 5.50% 3/1/205310   8,000    7,966 
Freddie Mac Pool #SD8314 4.50% 4/1/205310   1,732    1,666 
Freddie Mac Pool #SD2716 5.00% 4/1/205310   19,328    18,961 
Freddie Mac Pool #SD8315 5.00% 4/1/205310   4,520    4,432 
Freddie Mac Pool #SD8316 5.50% 4/1/205310   36,048    35,895 
Freddie Mac Pool #QG1266 5.50% 4/1/205310   500    498 
Freddie Mac Pool #SD8317 6.00% 4/1/205310   6    6 
Freddie Mac Pool #SD8324 5.50% 5/1/205310   192,314    191,499 
Freddie Mac Pool #QG3382 5.50% 5/1/205310   7,282    7,251 
Freddie Mac Pool #QG3365 5.50% 5/1/205310   5,000    4,978 
Freddie Mac Pool #QG1719 5.50% 5/1/205310   47    46 
Freddie Mac Pool #SD8325 6.00% 5/1/205310   191,979    193,751 
Freddie Mac Pool #SD8334 6.50% 5/1/205310   19,527    19,951 
Freddie Mac Pool #SD8329 5.00% 6/1/205310   6,331    6,207 
Freddie Mac Pool #SD8331 5.50% 6/1/205310   193,980    193,158 
Freddie Mac Pool #QG4632 5.50% 6/1/205310   16,374    16,304 
Freddie Mac Pool #QG5136 5.50% 6/1/205310   8,745    8,708 
Freddie Mac Pool #QG5097 5.50% 6/1/205310   7,999    7,965 
Freddie Mac Pool #QG4732 5.50% 6/1/205310   36    36 
Freddie Mac Pool #QG3775 5.50% 6/1/205310   25    25 
Freddie Mac Pool #SD8332 6.00% 6/1/205310   274,429    276,961 

 

The Bond Fund of America 41
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Federal agency mortgage-backed obligations (continued)          
Freddie Mac Pool #SD3240 6.00% 6/1/205310  USD66,097   $66,707 
Freddie Mac Pool #RA9279 6.00% 6/1/205310   21,114    21,402 
Freddie Mac Pool #RA9283 6.00% 6/1/205310   20,253    20,549 
Freddie Mac Pool #RA9281 6.00% 6/1/205310   12,873    12,997 
Freddie Mac Pool #RA9284 6.00% 6/1/205310   8,964    9,183 
Freddie Mac Pool #QG4096 6.00% 6/1/205310   475    479 
Freddie Mac Pool #RA9294 6.50% 6/1/205310   9,438    9,677 
Freddie Mac Pool #RA9292 6.50% 6/1/205310   7,927    8,120 
Freddie Mac Pool #RA9289 6.50% 6/1/205310   7,698    7,943 
Freddie Mac Pool #RA9288 6.50% 6/1/205310   7,382    7,642 
Freddie Mac Pool #RA9287 6.50% 6/1/205310   5,078    5,263 
Freddie Mac Pool #RA9290 6.50% 6/1/205310   3,954    4,071 
Freddie Mac Pool #RA9291 6.50% 6/1/205310   2,737    2,796 
Freddie Mac Pool #RA9295 6.50% 6/1/205310   2,016    2,097 
Freddie Mac Pool #SD8341 5.00% 7/1/205310   143,753    140,939 
Freddie Mac Pool #SD8342 5.50% 7/1/205310   853,511    849,893 
Freddie Mac Pool #SD3356 6.00% 7/1/205310   51,865    52,344 
Freddie Mac Pool #SD8343 6.00% 7/1/205310   2,558    2,582 
Freddie Mac, Series 2122, Class QM, 6.25% 2/15/202910   196    196 
Freddie Mac, Series K749, Class AM, 2.12% 6/25/202910   2,069    1,804 
Freddie Mac, Series K127, Class A2, 2.108% 1/25/203110   1,000    847 
Freddie Mac, Series K136, Class A2, 2.127% 11/25/203110   142    119 
Freddie Mac, Series 3257, Class PA, 5.50% 12/15/203610   2,197    2,229 
Freddie Mac, Series 3286, Class JN, 5.50% 2/15/203710   1,639    1,665 
Freddie Mac, Series 3318, Class JT, 5.50% 5/15/203710   870    880 
Freddie Mac, Series K036, Class A2, Multi Family, 3.527% 10/25/202310   1,711    1,700 
Freddie Mac, Series K044, Class A2, Multi Family, 2.811% 1/25/202510   19,178    18,457 
Freddie Mac, Series K046, Class A2, Multi Family, 3.205% 3/25/202510   4,410    4,260 
Freddie Mac, Series KPLB, Class A, Multi Family, 2.77% 5/25/202510   11,729    11,191 
Freddie Mac, Series K732, Class A2, Multi Family, 3.70% 5/25/202510   7,079    6,884 
Freddie Mac, Series K048, Class A2, Multi Family, 3.284% 6/25/20253,10   562    542 
Freddie Mac, Series K049, Class A2, Multi Family, 3.01% 7/25/202510   2,789    2,672 
Freddie Mac, Series K734, Class A2, Multi Family, 3.208% 2/25/202610   3,065    2,942 
Freddie Mac, Series K060, Class A2, Multi Family, 3.30% 10/25/202610   400    381 
Freddie Mac, Series K064, Class A2, Multi Family, 3.224% 3/25/20273,10   1,000    951 
Freddie Mac, Series K074, Class A2, Multi Family, 3.60% 1/25/202810   955    915 
Freddie Mac, Series K742, Class A2, Multi Family, 1.76% 3/25/202810   3,000    2,647 
Freddie Mac, Series K076, Class A2, Multi Family, 3.90% 4/25/202810   3,965    3,849 
Freddie Mac, Series K078, Class A2, Multi Family, 3.854% 6/25/202810   4,000    3,877 
Freddie Mac, Series K079, Class A2, Multi Family, 3.926% 6/25/202810   172    167 
Freddie Mac, Series K081, Class A2, Multi Family, 3.90% 8/25/20283,10   1,700    1,650 
Freddie Mac, Series K082, Class A2, Multi Family, 3.92% 9/25/20283,10   1,680    1,631 
Freddie Mac, Series K083, Class A2, Multi Family, 4.05% 9/25/20283,10   3,000    2,929 
Freddie Mac, Series K084, Class A2, Multi Family, 3.78% 10/25/20283,10   6,045    5,822 
Freddie Mac, Series K089, Class A2, Multi Family, 3.563% 1/25/202910   5,249    4,995 
Freddie Mac, Series K090, Class A2, Multi Family, 3.422% 2/25/202910   5,000    4,723 
Freddie Mac, Series K749, Class A2, Multi Family, 2.12% 6/25/202910   2,113    1,862 
Freddie Mac, Series K101, Class A2, Multi Family, 2.524% 10/25/202910   62    55 
Freddie Mac, Series K751, Class A2, Multi Family, 4.412% 3/25/203010   118,468    117,562 
Freddie Mac, Series K137, Class A2, Multi Family, 2.347% 11/25/20313,10   306    260 
Freddie Mac, Series K140, Class A2, Multi Family, 2.25% 1/25/203210   417    351 
Freddie Mac, Series K144, Class A2, Multi Family, 2.45% 4/25/203210   7,501    6,412 
Freddie Mac, Series K143, Class A2, Multi Family, 2.35% 6/25/203210   7,984    6,796 
Freddie Mac, Series K144, Class AM, Multi Family, 2.45% 7/25/203210   5,000    4,249 
Freddie Mac, Series K144, Class A2, Multi Family, 2.45% 7/25/203210   3,551    3,035 
Freddie Mac, Series K152, Class A2, Multi Family, 3.80% 10/25/20323,10   2,010    1,908 
Freddie Mac, Series K152, Class A2, Multi Family, 3.78% 11/25/203210   21,945    20,805 
Freddie Mac, Series K151, Class A2, Multi Family, 3.80% 12/25/203210   6,865    6,519 
Freddie Mac, Series K153, Class A2, Multi Family, 3.82% 1/25/203310   13,000    12,355 
Freddie Mac, Series K156, Class A2, Multi Family, 4.43% 2/25/20333,10   24,842    24,777 
Freddie Mac, Series K155, Class A2, Multi Family, 4.25% 4/25/203310   4,000    3,935 
Freddie Mac, Series K105, Class A2, Multi Family, 1.872% 3/25/205310   23    20 
Freddie Mac, Series 3147, Class OD, principal only, 0% 4/15/203610   242    209 
Freddie Mac, Series 3136, Class OP, principal only, 0% 4/15/203610   236    203 
Freddie Mac, Series 3156, Class PO, principal only, 0% 5/15/203610   874    731 
Freddie Mac, Series 3149, Class MO, principal only, 0% 5/15/203610   109    93 
Freddie Mac, Series 3149, Class AO, principal only, 0% 5/15/203610   95    80 

 

42 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)          
Federal agency mortgage-backed obligations (continued)          
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/20563,10  USD24,118   $22,319 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class MA, 3.00% 1/25/205610   3,319    3,049 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class MT, 3.00% 7/25/205610   5,501    4,814 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HA, 3.25% 7/25/20563,10   9,960    9,270 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HT, 3.25% 7/25/205610   1,114    990 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/205610   29,138    26,842 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/20563,10   27,960    25,831 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-1, Class HT, 3.00% 5/25/205710   5,893    5,087 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 6/25/20573,10   8,491    7,627 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT, 3.50% 6/25/205710   5,241    4,700 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class M45T, 4.50% 6/25/205710   4,713    4,540 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/205710   46,556    43,769 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT, 3.50% 11/25/205710   8,776    7,832 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MT, 3.50% 7/25/205810   2,966    2,645 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MA, 3.50% 7/25/205810   1,277    1,196 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/25/205810   21,181    19,796 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MT, 3.50% 8/26/205810   2,498    2,229 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 10/25/205810   1,550    1,383 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MA, 3.50% 10/25/205810   537    503 
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA, 3.00% 2/25/205910   93,016    84,948 
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-1, Class A1, 3.50% 6/25/202810   18,696    17,652 
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/202810   14,177    13,379 
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-2, Class A1C, 2.75% 9/25/202910   49,788    45,557 
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-3, Class A1C, 2.75% 11/25/202910   25,912    23,671 
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2022-1, Class A1, 3.50% 5/25/203210   36,616    34,234 
FREMF Mortgage Trust, Series K-142, Class A2, 2.40% 3/25/203210   7,924    6,754 
Government National Mortgage Assn. 2.00% 7/1/205310,11   39,500    33,210 
Government National Mortgage Assn. 2.50% 7/1/205310,11   11,943    10,343 
Government National Mortgage Assn. 3.00% 7/1/205310,11   21,836    19,515 
Government National Mortgage Assn. 3.50% 7/1/205310,11   236,139    217,976 
Government National Mortgage Assn. 4.00% 7/1/205310,11   233,190    220,683 
Government National Mortgage Assn. 4.50% 7/1/205310,11   493,230    476,082 
Government National Mortgage Assn. 5.50% 7/1/205310,11   249,548    248,398 
Government National Mortgage Assn. 2.50% 8/1/205310,11   17,300    14,994 
Government National Mortgage Assn. 3.00% 8/1/205310,11   86,700    77,552 
Government National Mortgage Assn. 3.50% 8/1/205310,11   27,800    25,691 
Government National Mortgage Assn. 4.00% 8/1/205310,11   159,700    151,235 
Government National Mortgage Assn. 4.50% 8/1/205310,11   79,421    76,697 
Government National Mortgage Assn. 5.00% 8/1/205310,11   94,238    92,582 
Government National Mortgage Assn. 5.50% 8/1/205310,11   100,000    99,492 
Government National Mortgage Assn. Pool #MA0908 2.50% 4/20/202810   480    457 
Government National Mortgage Assn. Pool #AB3820 5.00% 12/20/203510   180    177 

 

The Bond Fund of America 43
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Federal agency mortgage-backed obligations (continued)          
Government National Mortgage Assn. Pool #AB3587 6.50% 12/20/203810  USD31   $31 
Government National Mortgage Assn. Pool #AB3819 5.00% 12/20/203910   272    268 
Government National Mortgage Assn. Pool #004636 4.50% 2/20/204010   798    793 
Government National Mortgage Assn. Pool #783689 5.50% 2/20/204010   1,391    1,434 
Government National Mortgage Assn. Pool #AB3818 4.50% 6/20/204110   66    64 
Government National Mortgage Assn. Pool #783688 5.00% 6/20/204110   1,179    1,200 
Government National Mortgage Assn. Pool #AC2886 4.50% 8/20/204110   599    586 
Government National Mortgage Assn. Pool #AB3664 4.50% 8/20/204110   117    113 
Government National Mortgage Assn. Pool #783687 4.50% 12/20/204110   3,740    3,668 
Government National Mortgage Assn. Pool #754353 3.50% 4/20/204210   292    270 
Government National Mortgage Assn. Pool #AD7620 3.50% 3/20/204310   920    850 
Government National Mortgage Assn. Pool #BC1530 3.00% 8/20/204710   3,517    3,164 
Government National Mortgage Assn. Pool #BC1565 3.00% 8/20/204710   1,314    1,181 
Government National Mortgage Assn. Pool #MA5019 3.50% 2/20/204810   238    223 
Government National Mortgage Assn. Pool #MA5263 3.50% 6/20/204810   1,913    1,787 
Government National Mortgage Assn. Pool #MA5332 5.00% 7/20/204810   37    37 
Government National Mortgage Assn. Pool #MA5527 3.50% 10/20/204810   1,496    1,401 
Government National Mortgage Assn. Pool #MA5594 3.50% 11/20/204810   2,373    2,217 
Government National Mortgage Assn. Pool #MA5652 4.50% 12/20/204810   2,079    2,032 
Government National Mortgage Assn. Pool #MA5754 4.50% 2/20/204910   33    32 
Government National Mortgage Assn. Pool #MA5755 5.00% 2/20/204910   120    117 
Government National Mortgage Assn. Pool #MA5817 4.00% 3/20/204910   10,494    10,040 
Government National Mortgage Assn. Pool #MA5818 4.50% 3/20/204910   1,843    1,801 
Government National Mortgage Assn. Pool #MA6041 4.50% 7/20/204910   300    293 
Government National Mortgage Assn. Pool #MA6042 5.00% 7/20/204910   73    73 
Government National Mortgage Assn. Pool #MA6156 4.50% 9/20/204910   1,851    1,804 
Government National Mortgage Assn. Pool #MA6600 3.50% 4/20/205010   74,074    69,056 
Government National Mortgage Assn. Pool #MA6602 4.50% 4/20/205010   454    443 
Government National Mortgage Assn. Pool #BZ3978 2.50% 11/20/205010   1,574    1,359 
Government National Mortgage Assn. Pool #MA7259 4.50% 3/20/205110   20,650    20,210 
Government National Mortgage Assn. Pool #785607 2.50% 8/20/205110   51,536    44,021 
Government National Mortgage Assn. Pool #785575 2.50% 8/20/205110   33,051    28,164 
Government National Mortgage Assn. Pool #785659 2.50% 10/20/205110   39,007    33,137 
Government National Mortgage Assn. Pool #786706 2.50% 12/20/205110   10,120    8,812 
Government National Mortgage Assn. Pool #786502 2.50% 2/20/205210   1,842    1,590 
Government National Mortgage Assn. Pool #785998 2.50% 3/20/205210   3,222    2,745 
Government National Mortgage Assn. Pool #786701 2.50% 3/20/205210   644    556 
Government National Mortgage Assn. Pool #786647 2.50% 3/20/205210   111    96 
Government National Mortgage Assn. Pool #MA8426 4.00% 11/20/205210   6    6 
Government National Mortgage Assn. Pool #694836 5.75% 9/20/205910   1    1 
Government National Mortgage Assn. Pool #721648 5.05% 4/20/206110   3    3 
Government National Mortgage Assn. Pool #725876 4.86% 9/20/206110   6    6 
Government National Mortgage Assn. Pool #710085 5.03% 9/20/206110   3    3 
Government National Mortgage Assn. Pool #725879 4.881% 10/20/206110   1    1 
Government National Mortgage Assn. Pool #AC1008 4.351% 10/20/206310   1    1 
Government National Mortgage Assn. Pool #776095 4.854% 2/20/206410   1    1 
Government National Mortgage Assn. Pool #725893 5.20% 9/20/206410   6    6 
Government National Mortgage Assn. Pool #AG8238 4.865% 12/20/206410   2    2 
Government National Mortgage Assn. Pool #AE9612 4.852% 1/20/206510   2    2 
Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/206310   11,910    9,166 
Uniform Mortgage-Backed Security 1.50% 7/1/203810,11   840    724 
Uniform Mortgage-Backed Security 2.00% 7/1/203810,11   42,000    37,223 
Uniform Mortgage-Backed Security 2.50% 7/1/203810,11   4,400    4,006 
Uniform Mortgage-Backed Security 3.50% 7/1/203810,11   37,000    35,180 
Uniform Mortgage-Backed Security 4.00% 7/1/203810,11   19,710    19,027 
Uniform Mortgage-Backed Security 2.50% 8/1/203810,11   43,600    39,759 
Uniform Mortgage-Backed Security 4.00% 8/1/203810,11   45,790    44,236 
Uniform Mortgage-Backed Security 2.00% 7/1/205310,11   58,987    48,118 
Uniform Mortgage-Backed Security 2.50% 7/1/205310,11   151,362    128,374 
Uniform Mortgage-Backed Security 3.00% 7/1/205310,11   187,836    165,347 
Uniform Mortgage-Backed Security 3.50% 7/1/205310,11   578,996    527,678 
Uniform Mortgage-Backed Security 4.00% 7/1/205310,11   753,007    706,738 
Uniform Mortgage-Backed Security 4.50% 7/1/205310,11   252,500    242,775 
Uniform Mortgage-Backed Security 5.00% 7/1/205310,11   975,843    956,250 
Uniform Mortgage-Backed Security 5.50% 7/1/205310,11   77,960    77,613 
Uniform Mortgage-Backed Security 5.50% 7/1/205310,11   31,857    31,706 
Uniform Mortgage-Backed Security 6.00% 7/1/205310,11   994,172    1,003,026 

 

44 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Federal agency mortgage-backed obligations (continued)        
Uniform Mortgage-Backed Security 6.50% 7/1/205310,11  USD60,610   $61,889 
Uniform Mortgage-Backed Security 2.00% 8/1/205310,11   490,210    400,459 
Uniform Mortgage-Backed Security 2.50% 8/1/205310,11   915,360    777,484 
Uniform Mortgage-Backed Security 3.00% 8/1/205310,11   135,200    119,182 
Uniform Mortgage-Backed Security 3.50% 8/1/205310,11   172,100    157,008 
Uniform Mortgage-Backed Security 4.00% 8/1/205310,11   113,040    106,183 
Uniform Mortgage-Backed Security 4.50% 8/1/205310,11   280,446    269,776 
Uniform Mortgage-Backed Security 6.00% 8/1/205310,11   81,634    82,341 
Uniform Mortgage-Backed Security 6.50% 8/1/205310,11   6,651    6,787 
         21,436,687 
           
Commercial mortgage-backed securities 1.93%          
3650R Commercial Mortgage Trust, Series 2022-PF2, Class A5, 5.466% 11/15/20553,10   2,275    2,239 
Arbor Multi Family Mortgage Securities Trust, Series 2020-MF1, Class A5, 2.756% 5/15/20532,10   1,000    855 
Banc of America Commercial Mortgage, Inc., Series 2015-UBS7, Class A4, 3.705% 9/15/204810   2,750    2,609 
Banc of America Commercial Mortgage, Inc., Series 2017-BNK3, Class A4, 3.574% 2/15/205010   115    107 
Bank Commercial Mortgage Trust, Series 2023-5YR2, Class AS, 6.878% 6/15/202810   1,940    2,005 
Bank Commercial Mortgage Trust, Series 2019-BN16, Class A4, 4.005% 2/15/205210   3,920    3,640 
Bank Commercial Mortgage Trust, Series 2019-BN17, Class A4, 3.714% 4/15/205210   255    233 
Bank Commercial Mortgage Trust, Series 2020-BNK29, Class A4, 1.997% 11/15/205310   5,624    4,360 
Bank Commercial Mortgage Trust, Series 2021-BN31, Class A4, 2.036% 2/15/205410   235    187 
Bank Commercial Mortgage Trust, Series 2017-BNK9, Class A4, 3.538% 11/15/205410   135    124 
Bank Commercial Mortgage Trust, Series 2022-BNK43, Class A5, 4.399% 8/15/205510   28,219    26,508 
Bank Commercial Mortgage Trust, Series 2023-5YR1, Class A3, 6.26% 3/15/20563,10   24,749    25,207 
Bank Commercial Mortgage Trust, Series 2017-BNK7, Class A5, 3.435% 9/15/206010   3,750    3,439 
Bank Commercial Mortgage Trust, Series 2018-BN10, Class A5, 3.688% 2/15/206110   2,510    2,318 
Bank Commercial Mortgage Trust, Series 2018-BN10, Class A4, 3.428% 2/17/206110   321    294 
Bank Commercial Mortgage Trust, Series 2019-BN12, Class A3, 3.99% 5/15/206110   500    468 
Bank Commercial Mortgage Trust, Series 2018-BN12, Class A4, 4.255% 5/15/20613,10   11,116    10,502 
Bank Commercial Mortgage Trust, Series 2019-BN19, Class A3, 3.183% 8/15/206110   2,546    2,197 
Bank Commercial Mortgage Trust, Series 2018-BN13, Class A5, 4.217% 8/15/20613,10   250    235 
Bank Commercial Mortgage Trust, Series 2018-BN15, Class A3, 4.138% 11/15/206110   496    469 
Bank Commercial Mortgage Trust, Series 2020-BN28, Class A4, 1.844% 3/15/206310   1,766    1,401 
Bank Commercial Mortgage Trust, Series 2020-BN26, Class A4, 2.403% 3/15/206310   1,654    1,377 
Bank of America Merrill Lynch Large Loan, Inc., Series 2015-200P, Class A, 3.218% 4/14/20332,10   3,800    3,532 
Benchmark Mortgage Trust, Series 2018-B2, Class A4, 3.615% 2/15/205110   3,475    3,167 
Benchmark Mortgage Trust, Series 2018-B3, Class A5, 4.025% 4/10/205110   5,890    5,448 
Benchmark Mortgage Trust, Series 2018-B4, Class A5, 4.121% 7/15/20513,10   90    84 
Benchmark Mortgage Trust, Series 2018-B8, Class A5, 4.232% 1/15/205210   6,351    5,843 
Benchmark Mortgage Trust, Series 2020-B17, Class A5, 2.289% 3/15/205310   944    762 
Benchmark Mortgage Trust, Series 2018-B7, Class A3, 4.241% 5/15/205310   1,000    929 
Benchmark Mortgage Trust, Series 2018-B7, Class A4, 4.51% 5/15/20533,10   6,954    6,551 
Benchmark Mortgage Trust, Series 2020-B19, Class A5, 1.85% 9/15/205310   10,000    7,764 
Benchmark Mortgage Trust, Series 2021-B23, Class A5, 2.07% 2/15/205410   5,000    3,854 
Benchmark Mortgage Trust, Series 2021-B24, Class A4, 2.264% 3/15/205410   900    720 
Benchmark Mortgage Trust, Series 2021-B25, Class A5, 2.577% 4/15/205410   14,719    11,731 
Benchmark Mortgage Trust, Series 2021-B27, Class A5, 2.39% 7/15/205410   5,000    3,921 
Benchmark Mortgage Trust, Series 2021-B31, Class A5, 2.669% 12/15/205410   5,000    4,098 
Benchmark Mortgage Trust, Series 2022-B32, Class A5, 3.002% 1/15/205510   11,500    9,357 
Benchmark Mortgage Trust, Series 2022-B33, Class A5, 3.458% 3/15/205510   3,000    2,627 
Benchmark Mortgage Trust, Series 2022-B35, Class A5, 4.593% 5/15/20553,10   6,928    6,337 
Benchmark Mortgage Trust, Series 2022-B36, Class A5, 4.470% 7/15/20553,10   29,367    27,598 
Benchmark Mortgage Trust, Series 2022-B37, Class A5, 5.943% 11/15/20553,10   2,522    2,626 
Benchmark Mortgage Trust, Series 2023-B38, Class A4, 5.525% 4/15/205610   7,636    7,779 
Benchmark Mortgage Trust, Series 2019-B13, Class A4, 2.952% 8/15/205710   730    631 
Benchmark Mortgage Trust, Series 2019-B10, Class A3, 3.455% 3/15/206210   500    449 
Benchmark Mortgage Trust, Series 2019-B14, Class AS, 3.049% 12/15/206210   5,000    4,323 
BOCA Commercial Mortgage Trust, Series 2022-BOCA, Class A, (1-month USD CME Term SOFR + 1.77%) 6.917% 5/15/20392,3,10   60,445    60,109 
BPR Trust, Series 2022-OANA, Class A, (1-month USD CME Term SOFR + 1.898%) 7.045% 4/15/20372,3,10   20,378    19,811 
BX Trust, Series 2022-CSMO, Class A, (1-month USD CME Term SOFR + 2.115%) 7.262% 6/15/20272,3,10   54,030    54,028 

 

The Bond Fund of America 45
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Commercial mortgage-backed securities (continued)        
BX Trust, Series 2021-SDMF, Class A, (1-month USD-LIBOR + 0.589%) 5.782% 9/15/20342,3,10  USD954   $922 
BX Trust, Series 2021-VOLT, Class A, (1-month USD-LIBOR + 0.70%) 5.893% 9/15/20362,3,10   103,652    100,426 
BX Trust, Series 2021-ARIA, Class A, (1-month USD-LIBOR + 0.899%) 6.092% 10/15/20362,3,10   26,873    26,075 
BX Trust, Series 2021-RISE, Class A, (1-month USD-LIBOR + 0.74%) 5.941% 11/15/20362,3,10   74,996    73,063 
BX Trust, Series 2022-IND, Class A, (1-month USD CME Term SOFR + 1.491%) 6.638% 4/15/20372,3,10   34,319    33,848 
BX Trust, Series 2021-SOAR, Class A, (1-month USD-LIBOR + 0.67%) 5.863% 6/15/20382,3,10   41,880    40,821 
BX Trust, Series 2021-ACNT, Class A, (1-month USD-LIBOR + 0.85%) 6.043% 11/15/20382,3,10   66,291    64,709 
BX Trust, Series 2022-PSB, Class A, (1-month USD CME Term SOFR + 2.451%) 7.598% 8/15/20392,3,10   8,719    8,706 
BX Trust, Series 2022-GPA, Class A, (1-month USD CME Term SOFR + 2.165%) 7.312% 10/15/20392,3,10   21,702    21,710 
BX Trust, Series 2023-VLT2, Class A, (1-month USD CME Term SOFR + 2.281%) 7.34% 6/15/20402,3,10   28,351    28,313 
BXP Trust, Series 2017-GM, Class A, 3.379% 6/13/20392,10   4,500    4,039 
CD Commercial Mortgage Trust, Series 2017-CD6, Class A5, 3.456% 11/13/205010   5,576    5,057 
Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 6/10/20282,3,10   142,455    142,460 
Citigroup Commercial Mortgage Trust, Series 2023-PRM3, Class A, 6.36% 7/10/20282,3,10   8,000    8,147 
Citigroup Commercial Mortgage Trust, Series 2014-GC21, Class B, 4.328% 5/10/20473,10   1,800    1,675 
Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class A4, 2.878% 2/10/204810   755    725 
Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5, 3.616% 2/10/204910   1,525    1,425 
Citigroup Commercial Mortgage Trust, Series 2016-GC37, Class A4, 3.314% 4/10/204910   2,740    2,556 
Citigroup Commercial Mortgage Trust, Series 2016-C1, Class AS, 3.514% 5/10/204910   500    454 
Citigroup Commercial Mortgage Trust, Series 2017-B1, Class A3, 3.197% 8/15/205010   6,159    5,600 
Citigroup Commercial Mortgage Trust, Series 2017-C4, Class A4, 3.471% 10/12/205010   2,930    2,694 
Citigroup Commercial Mortgage Trust, Series 2019-GC41, Class AA, 2.62% 8/10/205610   200    170 
Citigroup Commercial Mortgage Trust, Series 2015-GC33, Class A3, 3.515% 9/10/205810   4,659    4,402 
Commercial Mortgage Trust, Series 2012-CR3, Class AM, 3.416% 10/15/20452,10   358    326 
Commercial Mortgage Trust, Series 2014-CR15, Class A4, 4.074% 2/10/20473,10   3,000    2,958 
Commercial Mortgage Trust, Series 2014-CR16, Class A3, 3.775% 4/10/204710   1,921    1,885 
Commercial Mortgage Trust, Series 2014-LC15, Class AM, 4.198% 4/10/204710   850    821 
Commercial Mortgage Trust, Series 2014-CR16, Class AM, 4.278% 4/10/204710   1,070    1,043 
Commercial Mortgage Trust, Series 2014-UBS4, Class A5, 3.694% 8/10/204710   910    881 
Commercial Mortgage Trust, Series 2014-CR19, Class AM, 4.08% 8/10/204710   750    720 
Commercial Mortgage Trust, Series 2014-LC17, Class A5, 3.917% 10/10/204710   886    858 
Commercial Mortgage Trust, Series 2014-LC17, Class B, 4.49% 10/10/20473,10   2,200    2,098 
Commercial Mortgage Trust, Series 2016-COR1, Class A4, 3.091% 10/10/204910   4,000    3,642 
Commercial Mortgage Trust, Series 2015-PC1, Class A4, 3.62% 7/10/205010   1,037    995 
Commercial Mortgage Trust, Series 2013-CR11, Class B, 5.290% 8/10/20503,10   500    496 
Commercial Mortgage Trust, Series 2017-COR2, Class A2, 3.239% 9/10/205010   825    758 
Commercial Mortgage Trust, Series 2017-COR2, Class A3, 3.51% 9/10/205010   2,261    2,060 
CSAIL Commercial Mortgage Trust, Series 2015-C4, Class AS, 4.174% 11/15/20483,10   999    934 
CSAIL Commercial Mortgage Trust, Series 2015-C1, Class B, 4.044% 4/15/20503,10   600    530 
CSAIL Commercial Mortgage Trust, Series 2017-CX9, Class A4, 3.176% 9/15/205010   2,375    2,176 
CSAIL Commercial Mortgage Trust, Series 2019-C17, Class A5, 3.016% 9/15/205210   2,000    1,724 
CSAIL Commercial Mortgage Trust, Series 2015-C2, Class A3, 3.231% 6/15/205710   2,354    2,262 
Deutsche Bank Commercial Mortgage Trust, Series 2016-C1, Class AM, 3.539% 5/10/204910   500    456 
Extended Stay America Trust, Series 2021-ESH, Class A, (1-month USD-LIBOR + 1.08%) 6.273% 7/15/20382,3,10   14,100    13,839 
Extended Stay America Trust, Series 2021-ESH, Class B, (1-month USD-LIBOR + 1.38%) 6.573% 7/15/20382,3,10   3,508    3,427 

 

46 The Bond Fund of America
 
         
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Commercial mortgage-backed securities (continued)        
Extended Stay America Trust, Series 2021-ESH, Class C, (1-month USD-LIBOR + 1.70%) 6.893% 7/15/20382,3,10  USD3,471   $3,384 
Extended Stay America Trust, Series 2021-ESH, Class D, (1-month USD-LIBOR + 2.25%) 7.443% 7/15/20382,3,10   3,637    3,542 
FIVE Mortgage Trust, Series 2023-V1, Class A3, 5.668% 2/10/205610   11,246    11,233 
Fontainebleau Miami Beach Trust, CMO, Series 2019-FBLU, Class A, 3.144% 12/10/20362,10   7,696    7,287 
Grace Mortgage Trust, Series 2020-GRCE, Class A, 2.347% 12/10/20402,10   7,590    5,918 
Great Wolf Trust, Series 2019-WOLF, Class A, (1-month USD CME Term SOFR + 1.148%) 6.295% 12/15/2036 (1-month USD CME Term SOFR + 1.348% on 12/15/2023)1,2,10   42,526    42,046 
GS Mortgage Securities Trust, Series 2022-SHIP, Class A, (1-month USD CME Term SOFR + 0.731%) 5.878% 8/15/20242,3,10   4,884    4,853 
GS Mortgage Securities Trust, Series 2022-SHIP, Class B, (1-month USD CME Term SOFR + 1.424%) 6.571% 8/15/20242,3,10   1,318    1,311 
GS Mortgage Securities Trust, Series 2022-SHIP, Class D, (1-month USD CME Term SOFR + 1.607%) 6.754% 8/15/20242,3,10   3,048    2,997 
GS Mortgage Securities Trust, Series 2022-SHIP, Class C, (1-month USD CME Term SOFR + 1.919%) 8.393% 8/15/2036 (1-month USD CME Term SOFR + 2.419% on 8/15/2023)1,2,10   908    902 
GS Mortgage Securities Trust, Series 2014-GC24, Class A5, 3.931% 9/10/204710   5,708    5,510 
GS Mortgage Securities Trust, Series 2020-GS1, Class A2, 3.47% 11/10/204810   3,000    2,828 
GS Mortgage Securities Trust, Series 2016-GS4, Class A3, 3.178% 11/10/204910   2,372    2,193 
GS Mortgage Securities Trust, Series 2016-GS4, Class A4, 3.442% 11/10/20493,10   2,654    2,452 
GS Mortgage Securities Trust, Series 2017-GS7, Class A3, 3.167% 8/10/205010   855    768 
GS Mortgage Securities Trust, Series 2017-GS7, Class A4, 3.43% 8/10/205010   1,000    904 
GS Mortgage Securities Trust, Series 2019-GC38, Class A4, 3.968% 2/10/205210   255    237 
GS Mortgage Securities Trust, Series 2020-GC45, Class A5, 2.911% 2/13/205310   174    149 
GS Mortgage Securities Trust, Series 2020-GC47, Class A5, 2.377% 5/12/205310   7,483    6,100 
ILPT Commercial Mortgage Pass-through Certificates, Series 2022-LPF2, Class A, (1-month USD CME Term SOFR + 2.245%) 7.392% 10/15/20392,3,10   23,009    22,986 
JPMBB Commercial Mortgage Securities Trust, Series 2014-C18, Class A5, 4.079% 2/15/204710   8,195    8,057 
JPMBB Commercial Mortgage Securities Trust, Series 2014-C19, Class A4, 3.997% 4/15/204710   1,858    1,827 
JPMBB Commercial Mortgage Securities Trust, Series 2014-C19, Class B, 4.394% 4/15/20473,10   600    574 
JPMBB Commercial Mortgage Securities Trust, Series 2014-C23, Class B, 4.629% 9/15/20473,10   100    94 
JPMBB Commercial Mortgage Securities Trust, Series 2014-C26, Class B, 3.951% 1/15/204810   2,333    2,090 
JPMDB Commercial Mortgage Securities Trust, Series 2017-C5, Class A5, 3.694% 3/15/205010   1,600    1,477 
JPMDB Commercial Mortgage Securities Trust, Series 2017-C7, Class A5, 3.409% 10/15/205010   1,683    1,530 
JPMDB Commercial Mortgage Securities Trust, Series 2019-COR6, Class A4, 3.057% 11/13/205210   975    822 
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class A, 3.024% 1/5/20392,10   42,523    33,981 
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2021-410T, Class A, 2.287% 3/5/20422,10   1,920    1,501 
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2013-C16, Class A4, 4.166% 12/15/204610   1,020    1,015 
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP4, Class A4, 3.648% 12/15/20493,10   5,095    4,730 
Manhattan West Mortgage Trust, Series 2020-1MW, Class A, 2.13% 9/10/20392,10   1,126    962 
MHC Commercial Mortgage Trust, CMO, Series 2021-MHC, Class A, (1-month USD CME Term SOFR + 0.915%) 6.062% 4/15/20382,3,10   21,390    21,018 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C11, Class A4, 4.284% 8/15/20463,10   4,035    4,021 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C13, Class A-4, 4.039% 11/15/204610   1,934    1,915 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class A4, 4.051% 4/15/204710   238    236 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C16, Class A4, 3.60% 6/15/204710   512    502 

 

The Bond Fund of America 47
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Commercial mortgage-backed securities (continued)        
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C17, Class A5, 3.741% 8/15/204710  USD24,171   $23,447 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C27, Class A4, 3.753% 12/15/204710   525    496 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class A-4, 3.306% 4/15/204810   1,870    1,775 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C25, Class A-4, 3.372% 10/15/204810   1,300    1,237 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C30, Class A4, 2.60% 9/15/204910   246    225 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C31, Class A-S, 3.102% 11/15/204910   3,000    2,727 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C32, Class A-4, 3.72% 12/15/204910   5,280    4,938 
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C23, Class A3, 3.451% 7/15/205010   550    523 
Morgan Stanley Capital I Trust, Series 2015-UBS8, Class AS, 4.114% 12/15/204810   1,730    1,601 
One Market Plaza Trust, Series 2017-1MKT, Class A, 3.614% 2/10/20322,10   1,220    1,129 
One Market Plaza Trust, Series 2017-1MKT, Class C, 4.016% 2/10/20322,10   1,000    861 
SLG Office Trust, Series 2021-OVA, Class A, 2.585% 7/15/20412,10   23,334    18,760 
SREIT Trust, Series 2021-FLWR, Class A, (1-month USD-LIBOR + 0.577%) 5.77% 7/15/20362,3,10   46,039    44,703 
SREIT Trust, Series 2021-MFP, Class A, (1-month USD-LIBOR + 0.731%) 5.924% 11/15/20382,3,10   51,446    50,034 
StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class A, (1-month USD CME Term SOFR + 1.00%) 6.147% 1/15/20392,3,10   55,785    54,121 
Wells Fargo Commercial Mortgage Trust, Series 2014-LC18, Class A5, 3.405% 12/15/204710   290    277 
Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class A4, 3.54% 5/15/204810   4,380    4,164 
Wells Fargo Commercial Mortgage Trust, Series 2015-SG1, Class A-4, 3.789% 9/15/204810   6,906    6,554 
Wells Fargo Commercial Mortgage Trust, Series 2015-C31, Class A4, 3.695% 11/15/204810   1,400    1,324 
Wells Fargo Commercial Mortgage Trust, Series 2015-P2, Class A4, 3.809% 12/15/204810   1,137    1,076 
Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class A4, 3.096% 6/15/204910   6,190    5,689 
Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class AS, 3.484% 6/15/204910   380    344 
Wells Fargo Commercial Mortgage Trust, Series 2016-C37, Class A5, 3.794% 12/15/204910   6,370    5,965 
Wells Fargo Commercial Mortgage Trust, Series 2014-LC16, Class A5, 3.817% 8/15/205010   2,302    2,234 
Wells Fargo Commercial Mortgage Trust, Series 2017-C40, Class A4, 3.581% 10/15/205010   1,154    1,059 
Wells Fargo Commercial Mortgage Trust, Series 2018-C46, Class A3, 3.888% 8/15/205110   6,500    6,209 
Wells Fargo Commercial Mortgage Trust, Series 2019-C54, Class A4, 3.146% 12/15/205210   3,898    3,401 
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS3, Class D, 3.153% 9/15/20572,10   1,667    1,377 
Wells Fargo Commercial Mortgage Trust, Series 2015-LC22, Class C, 4.696% 9/15/20583,10   1,000    899 
Wells Fargo Commercial Mortgage Trust, Series 2016-C33, Class A4, 3.426% 3/15/205910   1,320    1,234 
Wells Fargo Commercial Mortgage Trust, Series 2016-C36, Class A4, 3.065% 11/15/205910   3,853    3,498 
Wells Fargo Commercial Mortgage Trust, Series 2017-RC1, Class A4, 3.631% 1/15/206010   510    473 
WF-RBS Commercial Mortgage Trust, Series 2013-C16, Class B, 5.161% 9/15/20463,10   1,450    1,419 
WF-RBS Commercial Mortgage Trust, Series 2014-C19, Class B, 4.723% 3/15/20473,10   2,000    1,923 
WF-RBS Commercial Mortgage Trust, Series 2014-C22, Class A4, 3.488% 9/15/205710   9,798    9,472 
WMRK Commercial Mortgage Trust, Series 2022-WMRK, Class A, (1-month USD CME Term SOFR + 2.789%) 7.936% 11/15/20272,3,10   15,228    15,248 
         1,462,107 

 

48 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Collateralized mortgage-backed obligations (privately originated) 1.30%        
Arroyo Mortgage Trust, Series 2021-1R, Class A1, 1.175% 10/25/20482,3,10  USD13,110   $10,525 
Arroyo Mortgage Trust, Series 2020-1, Class A1A, 1.662% 3/25/20552,10   421    384 
Arroyo Mortgage Trust, Series 2022-1, Class A1A, 2.495% 12/25/2056 (3.495% on 2/25/2026)1,2,10   42,936    38,947 
BRAVO Residential Funding Trust, Series 2020-RPL2, Class A1, 2.00% 5/25/20592,3,10   2,358    2,106 
BRAVO Residential Funding Trust, Series 2020-RPL1, Class A1, 2.50% 5/26/20592,3,10   1,474    1,386 
BRAVO Residential Funding Trust, Series 2022-RPL1, Class A1, 2.75% 9/25/20612,10   16,707    14,636 
BRAVO Residential Funding Trust, Series 2022-NQM2, Class A1, 4.272% 11/25/2061 (5.272% on 5/25/2026)1,2,10   2,034    1,962 
BRAVO Residential Funding Trust, Series 2022-NQM3, Class A1, 5.108% 7/25/2062 (6.108% on 9/1/2026)1,2,10   3,283    3,172 
BRAVO Residential Funding Trust, Series 2022-R1, Class A, 3.125% 1/29/2070 (6.125% on 1/29/2025)1,2,10   3,086    2,763 
Cascade Funding Mortgage Trust, Series 2021-HB7, Class A, 1.151% 10/27/20312,3,10   15,232    14,333 
Cascade Funding Mortgage Trust, Series 2023-HB12, Class A, 4.25% 4/25/20332,3,10   4,299    4,121 
Cascade Funding Mortgage Trust, Series 2021-HB6, Class A, 0.898% 6/25/20362,3,10   9,601    9,104 
CFCRE Commercial Mortgage Trust, Series 2016-C7, Class A2, 3.585% 12/10/205410   1,822    1,704 
CIM Trust, Series 2018-R3, Class A1, 5.00% 12/25/20572,3,10   3,403    3,325 
CIM Trust, Series 2022-R2, Class A1, 3.75% 12/25/20612,3,10   37,029    34,103 
Citigroup Mortgage Loan Trust, Series 2021-J1, Class A4A, 2.50% 4/25/20512,3,10   1,827    1,418 
Citigroup Mortgage Loan Trust, Series 2020-EXP1, Class A1A, 1.804% 5/25/20602,3,10   541    487 
Citigroup Mortgage Loan Trust, Series 2018-RP1, Class M1, 3.00% 9/25/20642,3,10   3,731    3,300 
COLT Mortgage Loan Trust, Series 2021-5, Class A1, 1.726% 11/26/20662,3,10   6,107    5,083 
Connecticut Avenue Securities Trust, Series 2014-C01, Class M2, (1-month USD-LIBOR + 4.40%) 9.55% 1/25/20243,10   2,708    2,756 
Connecticut Avenue Securities Trust, Series 2014-C02A, Class 1M2, (1-month USD-LIBOR + 2.60%) 7.75% 5/25/20243,10   1,947    1,958 
Connecticut Avenue Securities Trust, Series 2014-C04, Class 1M2, (1-month USD-LIBOR + 4.90%) 10.05% 11/25/20243,10   1,736    1,805 
Connecticut Avenue Securities Trust, Series 2021-R01, Class 1M1, (30-day Average USD-SOFR + 0.75%) 5.817% 10/25/20412,3,10   290    289 
Connecticut Avenue Securities Trust, Series 2022-R06, Class 1M1, (30-day Average USD-SOFR + 2.75%) 7.817% 5/25/20422,3,10   895    912 
Connecticut Avenue Securities Trust, Series 2023-R01, Class 1M1, (30-day Average USD-SOFR + 2.40%) 7.467% 12/25/20422,3,10   1,328    1,337 
Credit Suisse Mortgage Trust, Series 2020-NET, Class A, 2.257% 8/15/20372,10   6,616    5,927 
Credit Suisse Mortgage Trust, Series 2019-RPL1, Class A1A, 3.65% 7/25/20582,3,10   674    641 
Credit Suisse Mortgage Trust, Series 2022-ATH3, Class A1, 4.991% 8/25/20672,3,10   717    696 
CS First Boston Mortgage Securities Corp., Series 2002-30, Class IA1, 7.50% 11/25/203210   131    130 
CS First Boston Mortgage Securities Corp., Series 2002-34, Class IA1, 7.50% 12/25/203210   58    60 
CS First Boston Mortgage Securities Corp., Series 2003-21, Class VA1, 6.50% 7/25/203310   637    608 
CS First Boston Mortgage Securities Corp., Series 2003-29, Class VA1, 7.00% 12/25/203310   157    157 
DATA 2023-CNTR Mortgage Trust, Series 2023-CNTR, Class A, 5.919% 8/12/20432,3,10   65,864    64,172 
Finance of America Structured Securities Trust, Series 2019-JR1, Class A, 2.00% 3/25/20692,10   11,205    12,084 
Finance of America Structured Securities Trust, Series 2019-JR2, Class A1, 2.00% 6/25/20692,10   12,241    12,282 
Flagstar Mortgage Trust, Series 2021-5INV, Class A2, 2.50% 7/25/20512,3,10   13,903    11,227 
Flagstar Mortgage Trust, Series 2021-6INV, Class A4, 2.50% 8/25/20512,3,10   12,998    10,496 
Flagstar Mortgage Trust, Series 2021-8INV, Class A3, 2.50% 9/25/20512,3,10   14,846    11,989 
Flagstar Mortgage Trust, Series 2021-10INV, Class A3, 2.50% 10/25/20512,3,10   38,067    30,882 
Flagstar Mortgage Trust, Series 2021-11INV, Class A4, 2.50% 11/25/20512,3,10   15,462    12,486 
Flagstar Mortgage Trust, Series 2021-11INV, Class A2, 3.00% 11/25/20512,3,10   2,616    2,209 
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2016-DNA1, Class M3, (1-month USD-LIBOR + 5.55%) 10.70% 7/25/20283,10   2,151    2,286 
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2021-DNA6, Class M1, (30-day Average USD-SOFR + 0.80%) 5.867% 10/25/20412,3,10   852    848 
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA3, Class M1A, (30-day Average USD-SOFR + 2.00%) 7.067% 4/25/20422,3,10   8,888    8,917 
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA4, Class M1A, (30-day Average USD-SOFR + 2.20%) 7.267% 5/25/20422,3,10   210    212 
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA5, Class M1A, (30-day Average USD-SOFR + 2.95%) 8.017% 6/25/20422,3,10   2,243    2,285 

 

The Bond Fund of America 49
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Collateralized mortgage-backed obligations (privately originated) (continued)        
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average USD-SOFR + 2.15%) 7.217% 9/25/20422,3,10  USD3,596   $3,619 
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1B, (30-day Average USD-SOFR + 3.70%) 8.767% 9/25/20422,3,10   7,561    7,806 
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA1, Class M2, (1-month USD-LIBOR + 1.70%) 6.85% 1/25/20502,3,10   813    813 
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA2, Class M2, (1-month USD-LIBOR + 1.85%) 7.00% 2/25/20502,3,10   1,564    1,569 
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA3, Class B1, (1-month USD-LIBOR + 5.10%) 10.25% 6/27/20502,3,10   3,797    4,090 
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA4, Class B1, (1-month USD-LIBOR + 6.00%) 11.15% 8/25/20502,3,10   4,067    4,520 
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA5, Class M2, (30-day Average USD-SOFR + 2.80%) 7.622% 10/25/20502,3,10   1,720    1,749 
GCAT Trust, Series 2021-NQM6, Class A1, 1.855% 8/25/20662,3,10   17,605    14,722 
GS Mortgage-Backed Securities Trust, Series 2022-PJ5, Class A4, 2.50% 10/25/20522,3,10   41,061    33,259 
Home Partners of America Trust, Series 2021-2, Class A, 1.901% 12/17/20262,10   26,337    23,002 
Home Partners of America Trust, Series 2022-1, Class A, 3.93% 4/17/20392,10   2,933    2,745 
Hundred Acre Wood Trust, Series 2021-INV1, Class A3, 2.50% 7/25/20512,3,10   4,709    3,802 
Imperial Fund Mortgage Trust, Series 2022-NQM7, Class A1, 7.369% 11/25/2067 (8.369% on 11/1/2026)1,2,10   29,030    29,206 
Imperial Fund Mortgage Trust, Series 2023-NQM1, Class A1, 5.941% 2/25/2068 (6.941% on 1/1/2027)1,2,10   6,905    6,808 
Legacy Mortgage Asset Trust, Series 2020-GS1, Class A1, 5.882% 10/25/2059 (6.882% on 1/25/2024)1,2,10   11,379    11,191 
Legacy Mortgage Asset Trust, Series 2020-GS4, Class A1, 6.25% 2/25/20602,3,10   4,275    4,238 
Legacy Mortgage Asset Trust, Series 2020-GS3, Class A1, 6.25% 5/25/2060 (7.25% on 4/25/2024)1,2,10   8,252    8,153 
Legacy Mortgage Asset Trust, Series 2020-GS5, Class A1, 3.25% 6/25/2060 (6.25% on 8/25/2023)1,2,10   18,132    17,818 
Legacy Mortgage Asset Trust, Series 2022-GS1, Class A1, 4.00% 2/25/2061 (7.00% on 4/25/2025)1,2,10   21,318    20,487 
Legacy Mortgage Asset Trust, Series 2021-GS2, Class A1, 1.75% 4/25/20612,3,10   9,402    8,740 
Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 2.25% 7/25/2067 (5.25% on 11/25/2024)1,2,10   8,293    7,704 
Mello Mortgage Capital Acceptance Trust, Series 2021-MTG2, Class A1, 2.50% 6/25/20512,3,10   18,961    15,311 
Mello Mortgage Capital Acceptance Trust, Series 2021-MTG3, Class A3, 2.50% 7/1/20512,3,10   14,621    11,843 
Mello Warehouse Securitization Trust, Series 2021-3, Class A, (1-month USD-LIBOR + 0.85%) 6.00% 11/25/20552,3,10   88,549    87,543 
MFRA Trust, Series 2021-RPL1, Class A1, 1.131% 7/25/20602,3,10   17,586    15,518 
Mill City Mortgage Trust, Series 2016-1, Class M3, 3.35% 4/25/20572,3,10   3,000    2,836 
Mill City Mortgage Trust, Series 2019-GS2, Class A1, 2.75% 8/25/20592,3,10   4,420    4,121 
Mill City Mortgage Trust, Series 2018-1, Class A1, 3.25% 5/25/20622,3,10   123    118 
New Residential Mortgage Loan Trust, Series 2019-2A, Class A1, 4.25% 12/25/20572,3,10   1,995    1,889 
New Residential Mortgage Loan Trust, Series 2020-RPL1, Class A1, 2.75% 11/25/20592,3,10   9,543    8,792 
NewRez Warehouse Securitization Trust, Series 2021-1, Class A, (1-month USD-LIBOR + 0.75%) 5.90% 5/25/20552,3,10   42,288    41,994 
Onslow Bay Financial Mortgage Loan Trust, Series 2022-J1, Class A2, 2.50% 2/25/20522,3,10   1,090    883 
Onslow Bay Financial Mortgage Loan Trust, Series 2022-NQM9, Class A1A, 6.45% 9/25/2062 (7.45% on 11/1/2026)1,2,10   2,816    2,815 
Onslow Bay Financial Mortgage Loan Trust, Series 2023-NQM1, Class A1, 6.12% 11/25/2062 (7.12% on 12/1/2026)1,2,10   1,888    1,880 
Onslow Bay Financial Mortgage Loan Trust, Series 2023-NQM4, Class A1, 6.113% 3/25/2063 (7.113% on 5/1/2027)1,2,10   8,857    8,779 
PRKCM Trust, Series 2021-AFC2, Class A1, 2.071% 11/25/20562,3,10   18,274    15,045 
Progress Residential Trust, Series 2022-SFR3, Class A, 3.20% 4/17/20392,10   7,229    6,582 
Reverse Mortgage Investment Trust, Series 2021-HB1, Class A, 1.259% 11/25/20312,3,10   14,312    13,747 
TBW Mortgage-Backed Trust, Series 2007-2, Class A4B, (1-month USD-LIBOR + 0.42%) 5.99% 7/25/20373,10   7,362    6,449 
Towd Point Mortgage Trust, Series 2015-3, Class M2, 4.00% 3/25/20542,3,10   16,799    16,445 

 

50 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Mortgage-backed obligations (continued)        
Collateralized mortgage-backed obligations (privately originated) (continued)        
Towd Point Mortgage Trust, Series 2015-3, Class B1, 4.197% 3/25/20542,3,10  USD1,500   $1,437 
Towd Point Mortgage Trust, Series 2016-1, Class B1, 4.146% 2/25/20552,3,10   4,000    3,799 
Towd Point Mortgage Trust, Series 2016-2, Class M1, 3.00% 8/25/20552,3,10   7,000    6,601 
Towd Point Mortgage Trust, Series 2016-2, Class B2, 3.501% 8/25/20552,3,10   3,200    2,757 
Towd Point Mortgage Trust, Series 2016-5, Class A1, 2.50% 10/25/20562,3,10   496    489 
Towd Point Mortgage Trust, Series 2017-1, Class A2, 3.50% 10/25/20562,3,10   3,000    2,885 
Towd Point Mortgage Trust, Series 2017-5, Class A1, 5.75% 2/25/20572,3,10   233    233 
Towd Point Mortgage Trust, Series 2017-2, Class A2, 3.25% 4/25/20572,3,10   7,000    6,765 
Towd Point Mortgage Trust, Series 2017-4, Class A1, 2.75% 6/25/20572,3,10   559    527 
Towd Point Mortgage Trust, Series 2017-4, Class M1, 3.25% 6/25/20572,3,10   1,575    1,363 
Towd Point Mortgage Trust, Series 2017-3, Class A1, 2.75% 7/25/20572,3,10   281    274 
Towd Point Mortgage Trust, Series 2017-6, Class A1, 2.75% 10/25/20572,3,10   946    898 
Towd Point Mortgage Trust, Series 2017-6, Class A2, 3.00% 10/25/20572,3,10   3,000    2,709 
Towd Point Mortgage Trust, Series 2018-1, Class A2, 3.25% 1/25/20582,3,10   10,000    9,283 
Towd Point Mortgage Trust, Series 2018-2, Class A1, 3.25% 3/25/20582,3,10   8,744    8,340 
Towd Point Mortgage Trust, Series 2018-3, Class M2, 3.875% 5/25/20582,3,10   6,000    5,013 
Towd Point Mortgage Trust, Series 2018-5, Class A1A, 3.25% 7/25/20582,3,10   274    263 
Towd Point Mortgage Trust, Series 2019-2, Class A1, 3.75% 12/25/20582,3,10   6,904    6,470 
Towd Point Mortgage Trust, Series 2019-A2, Class A2, 3.75% 12/25/20582,3,10   3,615    3,164 
Towd Point Mortgage Trust, Series 2019-4, Class M1B, 3.00% 10/25/20592,3,10   5,000    4,039 
Towd Point Mortgage Trust, Series 2019-4, Class A2, 3.25% 10/25/20592,3,10   4,590    3,962 
Towd Point Mortgage Trust, Series 2020-4, Class A1, 1.75% 10/25/20602,10   21,836    19,086 
Towd Point Mortgage Trust, Series 2023-1, Class A1, 3.75% 1/25/20632,10   2,071    1,899 
Treehouse Park Improvement Association No.1 9.75% 12/1/20332,5   10,592    9,370 
Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943% 7/17/20382,10   29,677    26,419 
Tricon Residential Trust, Series 2023-SFR1, Class A, 5.10% 7/17/20402,10   10,774    10,535 
Tricon Residential Trust, Series 2023-SFR1, Class B, 5.10% 7/17/20402,10   7,963    7,637 
Tricon Residential Trust, Series 2023-SFR1, Class C, 5.10% 7/17/20402,10   1,536    1,458 
Verus Securitization Trust, Series 2023-1, Class A1, 5.85% 12/25/2067 (6.85% on 1/1/2027)1,2,10   5,501    5,438 
Verus Securitization Trust, Series 2023-3, Class A1, 5.93% 3/25/2068 (6.93% on 4/1/2027)1,2,10   204    201 
Verus Securitization Trust, Series 2023-5, Class A5, 6.476% 6/25/2068 (7.476% on 6/1/2027)1,2,10   721    723 
         985,178 
           
Total mortgage-backed obligations        23,883,972 
           
U.S. Treasury bonds & notes 26.86%          
U.S. Treasury 23.78%          
U.S. Treasury 0.25% 9/30/2023   8,377    8,278 
U.S. Treasury 0.375% 10/31/2023   155,000    152,590 
U.S. Treasury 0.25% 11/15/2023   200,000    196,357 
U.S. Treasury 2.125% 11/30/2023   16,428    16,214 
U.S. Treasury 0.125% 12/15/2023   25,000    24,434 
U.S. Treasury 2.25% 12/31/2023   1    1 
U.S. Treasury 0.875% 1/31/2024   19,719    19,214 
U.S. Treasury 1.50% 2/29/2024   32,578    31,749 
U.S. Treasury 2.375% 2/29/2024   17,639    17,293 
U.S. Treasury 0.25% 3/15/2024   200    193 
U.S. Treasury 2.125% 3/31/2024   105,265    102,753 
U.S. Treasury 2.25% 3/31/2024   253,514    247,613 
U.S. Treasury 0.375% 4/15/2024   80,995    77,861 
U.S. Treasury 2.00% 4/30/2024   19,000    18,474 
U.S. Treasury 2.25% 4/30/2024   107,633    104,879 
U.S. Treasury 0.25% 5/15/2024   62,489    59,763 
U.S. Treasury 2.50% 5/15/2024   4,000    3,900 
U.S. Treasury 2.00% 5/31/2024   344,583    334,070 
U.S. Treasury 0.25% 6/15/2024   10,000    9,523 
U.S. Treasury 1.75% 6/30/2024   40,000    38,584 
U.S. Treasury 2.00% 6/30/2024   138,000    133,472 
U.S. Treasury 3.00% 7/31/2024   78,000    76,044 
U.S. Treasury 0.375% 8/15/2024   1,486    1,406 
U.S. Treasury 3.25% 8/31/2024   50,830    49,619 
U.S. Treasury 0.375% 9/15/2024   2,346    2,212 
U.S. Treasury 2.125% 9/30/2024   8,000    7,694 
U.S. Treasury 4.25% 9/30/2024   137,688    135,891 
U.S. Treasury 0.625% 10/15/2024   959    904 

 

The Bond Fund of America 51
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
U.S. Treasury bonds & notes (continued)    
U.S. Treasury (continued)             
U.S. Treasury 1.50% 11/30/2024  USD1,000   $950 
U.S. Treasury 2.125% 11/30/2024   18,000    17,244 
U.S. Treasury 1.00% 12/15/2024   813    765 
U.S. Treasury 2.25% 12/31/2024   3,000    2,874 
U.S. Treasury 4.25% 12/31/2024   778,810    768,048 
U.S. Treasury 4.125% 1/31/2025   663,419    653,052 
U.S. Treasury 2.75% 2/28/202512   477,926    460,535 
U.S. Treasury 4.625% 2/28/202512   1,511,457    1,499,886 
U.S. Treasury 2.625% 3/31/2025   100,126    96,127 
U.S. Treasury 3.875% 3/31/2025   362,525    355,425 
U.S. Treasury 3.875% 4/30/2025   30,000    29,415 
U.S. Treasury 0.25% 5/31/2025   1,000    915 
U.S. Treasury 2.875% 5/31/2025   186,366    179,376 
U.S. Treasury 4.25% 5/31/2025   943,520    931,648 
U.S. Treasury 4.625% 6/30/2025   88,000    87,626 
U.S. Treasury 3.00% 7/15/2025   23,070    22,237 
U.S. Treasury 3.125% 8/15/2025   94,500    91,280 
U.S. Treasury 3.00% 9/30/2025   380    366 
U.S. Treasury 3.00% 10/31/2025   26,469    25,460 
U.S. Treasury 2.25% 11/15/2025   50,000    47,253 
U.S. Treasury 4.50% 11/15/2025   76,376    75,975 
U.S. Treasury 0.375% 11/30/2025   522,200    471,447 
U.S. Treasury 4.00% 12/15/2025   160,001    157,505 
U.S. Treasury 2.625% 12/31/2025   822    783 
U.S. Treasury 3.875% 1/15/2026   10,870    10,668 
U.S. Treasury 0.375% 1/31/2026   125,000    112,236 
U.S. Treasury 4.00% 2/15/2026   46,978    46,264 
U.S. Treasury 0.50% 2/28/2026   150    135 
U.S. Treasury 4.625% 3/15/2026   1,770    1,772 
U.S. Treasury 3.75% 4/15/2026   355    347 
U.S. Treasury 0.75% 4/30/2026   245,000    220,648 
U.S. Treasury 1.625% 5/15/2026   50,000    46,153 
U.S. Treasury 3.625% 5/15/2026   21,356    20,839 
U.S. Treasury 0.75% 5/31/2026   1,245    1,118 
U.S. Treasury 0.75% 8/31/2026   43,323    38,645 
U.S. Treasury 0.875% 9/30/2026   4,857    4,346 
U.S. Treasury 1.125% 10/31/2026   5,265    4,734 
U.S. Treasury 2.00% 11/15/2026   15,600    14,431 
U.S. Treasury 1.25% 11/30/2026   75,500    68,027 
U.S. Treasury 1.625% 11/30/2026   6    6 
U.S. Treasury 2.25% 2/15/2027   3,000    2,790 
U.S. Treasury 1.875% 2/28/2027   95,500    87,543 
U.S. Treasury 2.75% 4/30/2027   76,100    71,876 
U.S. Treasury 0.50% 5/31/2027   16,000    13,830 
U.S. Treasury 2.625% 5/31/2027   328,902    309,002 
U.S. Treasury 0.50% 6/30/2027   6,000    5,173 
U.S. Treasury 3.25% 6/30/2027   31,952    30,727 
U.S. Treasury 2.75% 7/31/2027   164,000    154,594 
U.S. Treasury 0.50% 8/31/2027   28,519    24,464 
U.S. Treasury 4.125% 10/31/2027   22,500    22,376 
U.S. Treasury 3.875% 11/30/2027   73,500    72,455 
U.S. Treasury 3.875% 12/31/2027   112,100    110,519 
U.S. Treasury 0.75% 1/31/2028   6,000    5,146 
U.S. Treasury 3.50% 1/31/2028   11,709    11,367 
U.S. Treasury 2.75% 2/15/2028   17,398    16,349 
U.S. Treasury 1.125% 2/29/2028   73,806    64,312 
U.S. Treasury 4.00% 2/29/2028   122,298    121,395 
U.S. Treasury 1.25% 3/31/2028   75,580    66,131 
U.S. Treasury 3.625% 3/31/2028   4,056    3,961 
U.S. Treasury 2.875% 5/15/2028   16,027    15,120 
U.S. Treasury 1.25% 5/31/2028   11,954    10,426 
U.S. Treasury 3.625% 5/31/2028   83,551    81,712 
U.S. Treasury 1.25% 6/30/2028   42,000    36,563 
U.S. Treasury 1.00% 7/31/2028   44,385    38,061 
U.S. Treasury 2.875% 8/15/2028   3,760    3,542 
U.S. Treasury 1.125% 8/31/2028   105,045    90,499 
U.S. Treasury 5.25% 11/15/2028   42,000    44,165 

 

52 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
U.S. Treasury bonds & notes (continued)    
U.S. Treasury (continued)             
U.S. Treasury 1.50% 11/30/2028  USD36,458   $31,885 
U.S. Treasury 1.75% 1/31/2029   51,932    45,899 
U.S. Treasury 2.375% 3/31/2029   1,000    913 
U.S. Treasury 2.875% 4/30/202912   333,760    312,932 
U.S. Treasury 2.375% 5/15/2029   30,000    27,347 
U.S. Treasury 1.625% 8/15/2029   398    347 
U.S. Treasury 3.875% 9/30/2029   65,000    64,350 
U.S. Treasury 3.875% 12/31/2029   2,819,618    2,794,387 
U.S. Treasury 3.50% 1/31/2030   100,000    97,024 
U.S. Treasury 1.50% 2/15/2030   40,500    34,682 
U.S. Treasury 4.00% 2/28/2030   12,292    12,281 
U.S. Treasury 3.625% 3/31/2030   17,124    16,745 
U.S. Treasury 3.75% 5/31/2030   150,000    147,876 
U.S. Treasury 1.625% 5/15/2031   47,450    40,316 
U.S. Treasury 1.25% 8/15/2031   20,972    17,205 
U.S. Treasury 1.375% 11/15/2031   1,027    846 
U.S. Treasury 1.875% 2/15/2032   25,000    21,402 
U.S. Treasury 2.875% 5/15/2032   9,665    8,957 
U.S. Treasury 2.75% 8/15/2032   4,519    4,141 
U.S. Treasury 4.125% 11/15/2032   73,756    75,363 
U.S. Treasury 3.50% 2/15/2033   25,860    25,174 
U.S. Treasury 3.375% 5/15/2033   344,823    333,068 
U.S. Treasury 4.25% 5/15/2039   68,513    71,658 
U.S. Treasury 4.50% 8/15/203912   127,570    137,200 
U.S. Treasury 1.125% 5/15/2040   38,625    25,046 
U.S. Treasury 1.125% 8/15/2040   35,000    22,510 
U.S. Treasury 1.375% 11/15/2040   30,124    20,158 
U.S. Treasury 1.875% 2/15/2041   155,839    113,148 
U.S. Treasury 1.75% 8/15/2041   50,819    35,710 
U.S. Treasury 2.00% 11/15/2041   17,595    12,880 
U.S. Treasury 3.125% 11/15/2041   300    264 
U.S. Treasury 2.375% 2/15/204212   257,616    200,591 
U.S. Treasury 3.25% 5/15/2042   57,700    51,474 
U.S. Treasury 2.75% 8/15/2042   7,000    5,770 
U.S. Treasury 4.00% 11/15/2042   73,092    72,602 
U.S. Treasury 3.875% 2/15/2043   111,000    108,179 
U.S. Treasury 2.875% 5/15/2043   23,810    19,906 
U.S. Treasury 3.875% 5/15/2043   55,229    54,036 
U.S. Treasury 3.375% 5/15/2044   38,700    34,880 
U.S. Treasury 2.50% 2/15/2045   51,000    39,478 
U.S. Treasury 3.00% 5/15/2045   1,460    1,233 
U.S. Treasury 3.00% 11/15/2045   10,552    8,897 
U.S. Treasury 2.50% 2/15/2046   140,481    108,106 
U.S. Treasury 2.50% 5/15/2046   18,730    14,399 
U.S. Treasury 2.25% 8/15/2046   4,500    3,287 
U.S. Treasury 2.875% 11/15/2046   9,369    7,715 
U.S. Treasury 3.00% 2/15/2047   39,950    33,625 
U.S. Treasury 3.00% 5/15/2047   81,322    68,455 
U.S. Treasury 2.75% 8/15/2047   500    402 
U.S. Treasury 2.75% 11/15/2047   5,300    4,261 
U.S. Treasury 3.00% 2/15/204812   140,821    118,655 
U.S. Treasury 3.125% 5/15/2048   5,150    4,443 
U.S. Treasury 3.00% 8/15/2048   11,100    9,360 
U.S. Treasury 3.375% 11/15/2048   4,545    4,104 
U.S. Treasury 3.00% 2/15/2049   123,341    104,298 
U.S. Treasury 2.875% 5/15/2049   169,149    139,823 
U.S. Treasury 2.25% 8/15/2049   131,423    95,499 
U.S. Treasury 2.375% 11/15/2049   81,108    60,548 
U.S. Treasury 2.00% 2/15/2050   51,200    35,084 
U.S. Treasury 1.25% 5/15/205012   209,788    117,908 
U.S. Treasury 1.375% 8/15/205012   502,790    292,063 
U.S. Treasury 1.625% 11/15/2050   243,175    150,883 
U.S. Treasury 1.875% 2/15/2051   46,906    31,028 
U.S. Treasury 2.375% 5/15/2051   59,648    44,305 
U.S. Treasury 2.00% 8/15/2051   157,105    106,962 
U.S. Treasury 1.875% 11/15/2051   104,285    68,771 
U.S. Treasury 2.25% 2/15/2052   203,900    147,211 

 

The Bond Fund of America 53
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
U.S. Treasury bonds & notes (continued)        
U.S. Treasury (continued)          
U.S. Treasury 2.875% 5/15/2052  USD221,200   $183,097 
U.S. Treasury 3.00% 8/15/2052   8,130    6,906 
U.S. Treasury 4.00% 11/15/2052   82,062    84,198 
U.S. Treasury 3.625% 2/15/205312   902,823    865,543 
U.S. Treasury 3.625% 5/15/2053   2,568    2,477 
         18,013,814 
           
U.S. Treasury inflation-protected securities 3.08%          
U.S. Treasury Inflation-Protected Security 0.625% 1/15/202413   143,223    140,875 
U.S. Treasury Inflation-Protected Security 0.50% 4/15/202413   54,302    53,015 
U.S. Treasury Inflation-Protected Security 0.125% 7/15/202413   576,926    559,988 
U.S. Treasury Inflation-Protected Security 0.125% 10/15/202413   6    6 
U.S. Treasury Inflation-Protected Security 0.25% 1/15/202513   116,061    111,301 
U.S. Treasury Inflation-Protected Security 0.375% 7/15/202513   446,818    427,833 
U.S. Treasury Inflation-Protected Security 0.125% 10/15/202513   26,160    24,818 
U.S. Treasury Inflation-Protected Security 0.625% 1/15/202613   6    6 
U.S. Treasury Inflation-Protected Security 0.125% 4/15/202613   305,862    286,938 
U.S. Treasury Inflation-Protected Security 0.125% 10/15/202613   6    6 
U.S. Treasury Inflation-Protected Security 0.125% 4/15/202713   194,999    180,524 
U.S. Treasury Inflation-Protected Security 1.625% 10/15/202713   205,258    202,318 
U.S. Treasury Inflation-Protected Security 0.125% 1/15/203013   46,701    41,908 
U.S. Treasury Inflation-Protected Security 0.125% 1/15/203113   181,883    161,673 
U.S. Treasury Inflation-Protected Security 2.125% 2/15/204113   3,286    3,528 
U.S. Treasury Inflation-Protected Security 0.75% 2/15/204212,13   159,401    135,499 
U.S. Treasury Inflation-Protected Security 0.125% 2/15/205113   1,733    1,155 
         2,331,373 
           
Total U.S. Treasury bonds & notes        20,345,187 
           
Asset-backed obligations 4.78%          
ACHV ABS Trust, Series 2023-1, Class A, 6.42% 3/18/20302,10   564    564 
ACHV ABS Trust, Series 2023-2PL, Class A, 6.42% 5/20/20302,10   3,562    3,564 
ACHV ABS Trust, Series 2023-2PL, Class B, 6.88% 5/20/20302,10   1,327    1,320 
Affirm Asset Securitization Trust, Series 2021-B, Class A, 1.03% 8/17/20262,10   5,063    4,926 
Affirm Asset Securitization Trust, Series 2021-Z2, Class A, 1.17% 11/16/20262,10   4,807    4,638 
Affirm Asset Securitization Trust, Series 2023-A, Class A, 6.61% 1/18/20282,10   2,679    2,667 
AGL CLO, Ltd., Series 2022-18A, Class A1, (3-month USD CME Term SOFR + 1.32%) 6.376% 4/21/20312,3,10   68,249    67,729 
AGL CLO, Ltd., Series 2022-18A, Class B, (3-month USD CME Term SOFR + 2.00%) 7.056% 4/21/20312,3,10   5,000    4,928 
AGL CLO, Ltd., Series 2021-13, Class D, (3-month USD-LIBOR + 3.15%) 8.40% 10/20/20342,3,10   350    328 
AGL CLO, Ltd., Series 2023-24, Class A1, (3-month USD CME Term SOFR + 2.00%) 7.076% 7/25/20362,3,10   22,438    22,451 
American Credit Acceptance Receivables Trust, Series 2022-3, Class A, 4.12% 2/13/20262,10   4,608    4,593 
American Credit Acceptance Receivables Trust, Series 2020-1, Class D, 2.39% 3/13/20262,10   640    635 
American Credit Acceptance Receivables Trust, Series 2022-4, Class A, 6.20% 5/13/20262,10   505    505 
American Credit Acceptance Receivables Trust, Series 2020-3, Class C, 1.85% 6/15/20262,10   931    928 
American Credit Acceptance Receivables Trust, Series 2022-3, Class B, 4.55% 10/13/20262,10   2,376    2,348 
American Credit Acceptance Receivables Trust, Series 2023-2, Class A, 5.89% 10/13/20262,10   8,829    8,806 
American Credit Acceptance Receivables Trust, Series 2021-1, Class C, 0.83% 3/15/20272,10   1,348    1,335 
American Credit Acceptance Receivables Trust, Series 2021-1, Class D, 1.14% 3/15/20272,10   2,226    2,146 
American Credit Acceptance Receivables Trust, Series 2021-3, Class C, 0.98% 11/15/20272,10   8,674    8,518 
American Credit Acceptance Receivables Trust, Series 2021-3, Class D, 1.34% 11/15/20272,10   4,780    4,473 
American Express Credit Account Master Trust, Series 2023-2, Class A, 4.80% 5/15/203010   23,956    23,756 
American Homes 4 Rent, Series 2014-SFR2, Class A, 3.786% 10/17/20362,10   13,078    12,690 

 

54 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Asset-backed obligations (continued)        
American Homes 4 Rent, Series 2015-SFR2, Class A, 3.732% 10/17/20522,10  USD31,378   $30,070 
American Homes 4 Rent, Series 2015-SFR2, Class B, 4.295% 10/17/20522,10   8,478    8,178 
AmeriCredit Automobile Receivables Trust, Series 2023-1, Class A2A, 5.84% 10/19/202610   10,774    10,775 
AmeriCredit Automobile Receivables Trust, Series 2021-2, Class B, 0.69% 1/19/202710   6,085    5,746 
AmeriCredit Automobile Receivables Trust, Series 2021-2, Class C, 1.01% 1/19/202710   6,765    6,185 
AmeriCredit Automobile Receivables Trust, Series 2021-2, Class D, 1.29% 6/18/202710   15,943    14,326 
Apex Credit CLO, LLC, Series 2022-1, Class C, (3-month USD CME Term SOFR + 2.71%) 7.766% 4/22/20332,3,10   900    873 
Apidos CLO, Ltd., Series 2022-42, Class D, (3-month USD CME Term SOFR + 5.76%) 10.356% 1/20/20362,3,10   750    757 
Apidos CLO, Ltd., Series 2023-45, Class D, (3-month USD CME Term SOFR + 5.20%) 10.186% 4/26/20362,3,10   1,700    1,721 
Ares CLO, Ltd., Series 2022-65A, Class A2, (3-month USD CME Term SOFR + 1.75%) 6.818% 7/25/20342,3,10   18,000    17,827 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2018-1A, Class A, 3.70% 9/20/20242,10   5,175    5,162 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2018-2A, Class A, 4.00% 3/20/20252,10   34,200    33,882 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2019-2A, Class D, 3.04% 9/22/20252,10   9,000    8,381 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2019-2A, Class A, 3.35% 9/22/20252,10   10,160    9,864 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2019-3A, Class A, 2.36% 3/20/20262,10   6,460    6,104 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-1A, Class A, 2.33% 8/20/20262,10   12,814    11,928 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/20272,10   18,971    17,207 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/20272,10   1,798    1,655 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 4.25% 2/20/20272,10   3,581    3,335 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2022-5, Class A, 6.12% 4/20/20272,10   7,921    7,927 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class A, 1.38% 8/20/20272,10   22,390    19,699 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class B, 1.63% 8/20/20272,10   3,398    2,963 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class C, 2.13% 8/20/20272,10   1,211    1,048 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class D, 3.71% 8/20/20272,10   5,000    4,231 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-2, Class A, 5.20% 10/20/20272,10   4,434    4,342 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-3A, Class A, 5.44% 2/22/20282,10   8,782    8,658 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-5, Class A, 5.78% 4/20/20282,10   49,213    48,849 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-1, Class A, 5.25% 4/20/20292,10   8,202    8,013 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-4, Class A, 5.49% 6/20/20292,10   12,830    12,651 
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/20292,10   38,230    38,209 
BA Credit Card Trust, Series 2022-A2, Class A2, 5.00% 4/17/202810   1,020    1,016 
Bain Capital Credit CLO, Ltd., Series 2022-4, Class A2, (3-month USD CME Term SOFR + 1.96%) 6.95% 7/16/20352,3,10   5,000    5,005 
Bain Capital Credit CLO, Ltd., Series 2023-3, Class D, (3-month USD CME Term SOFR + 5.25%) 10.489% 7/24/20362,3,10   500    500 
Ballyrock CLO, Ltd., Series 2019-2A, Class A1AR, (3-month USD-LIBOR + 1.00%) 6.379% 11/20/20302,3,10   12,370    12,271 
Bankers Healthcare Group Securitization Trust, Series 2020-A, Class A, 2.56% 9/17/20312,10   195    191 
Bankers Healthcare Group Securitization Trust, Series 2020-A, Class B, 3.59% 9/17/20312,10   4,310    4,071 

 

The Bond Fund of America 55
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Asset-backed obligations (continued)        
Bankers Healthcare Group Securitization Trust, Series 2021-A, Class A, 1.42% 11/17/20332,10  USD914   $853 
Bankers Healthcare Group Securitization Trust, Series 2021-A, Class B, 2.79% 11/17/20332,10   914    804 
Bankers Healthcare Group Securitization Trust, Series 2021-B, Class A, 0.90% 10/17/20342,10   759    727 
Bankers Healthcare Group Securitization Trust, Series 2021-B, Class B, 1.67% 10/17/20342,10   1,533    1,355 
Battalion CLO, Ltd., Series 2022-23A, Class A, (3-month USD CME Term SOFR + 1.44%) 6.426% 5/19/20362,3,10   8,000    7,863 
Birch Grove CLO, Ltd., Series 2023-6, Class A1, (3-month USD CME Term SOFR + 2.20%) 7.07% 7/20/20352,3,10   3,703    3,703 
Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class A, 2.443% 7/15/20462,10   18,326    15,812 
Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class B, 3.446% 7/15/20462,10   2,583    2,136 
BlueMountain CLO, Ltd., Series 2015-3, Class CR, (3-month USD LIBOR + 2.60%) 7.85% 4/20/20312,3,10   250    215 
BlueMountain CLO, Ltd., Series 2022-35A, Class A, (3-month USD CME Term SOFR + 1.55%) 6.621% 7/22/20352,3,10   3,000    2,945 
Carlyle Global Market Strategies, Series 2021-6A, Class A1, (3-month USD-LIBOR + 1.16%) 6.42% 7/15/20342,3,10   250    246 
CarMax Auto Owner Trust, Series 2023-1, Class A2A, 5.23% 1/15/202610   651    649 
CarMax Auto Owner Trust, Series 2023-2, Class A2A, 5.50% 6/15/202610   5,957    5,941 
CarMax Auto Owner Trust, Series 2021-1, Class C, 0.94% 12/15/202610   580    532 
CarMax Auto Owner Trust, Series 2021-1, Class D, 1.28% 7/15/202710   568    519 
Carvana Auto Receivables Trust, Series 2021-N4, Class C, 1.72% 9/11/202810   2,032    1,950 
Carvana Auto Receivables Trust, Series 2021-N4, Class A2, 1.80% 9/11/202810   3,896    3,571 
Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 5/11/20372,10   89,731    74,750 
Castlelake Aircraft Securitization Trust, Series 2021-1, Class C, 3.464% 5/11/20372,10   14,460    11,833 
Castlelake Aircraft Securitization Trust, Series 2021-1, Class C, 6.171% 5/11/20372,10   3,756    2,965 
Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 8/15/20412,10   3,543    3,219 
CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/20602,10   75,716    68,024 
CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/20602,10   15,702    13,144 
CF Hippolyta, LLC, Series 2020-1, Class B1, 2.28% 7/15/20602,10   9,080    8,122 
CF Hippolyta, LLC, Series 2020-1, Class B2, 2.60% 7/15/20602,10   989    822 
CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/20612,10   65,670    56,982 
CF Hippolyta, LLC, Series 2021-1, Class B1, 1.98% 3/15/20612,10   5,694    4,830 
CF Hippolyta, LLC, Series 2022-1, Class A1, 5.97% 8/15/20622,10   99,103    96,714 
CF Hippolyta, LLC, Series 2022-1, Class A2, 6.11% 8/15/20622,10   43,496    42,290 
CIFC Funding, Ltd., CLO, Series 2018-3A, Class A, (3-month USD-LIBOR + 1.10%) 6.362% 7/18/20312,3,10   2,700    2,676 
CIFC Funding, Ltd., CLO, Series 2022-4, Class A2, (3-month USD CME Term SOFR + 1.70%) 6.69% 7/16/20352,3,10   10,000    9,906 
CIFC Funding, Ltd., CLO, Series 2022-4, Class B, (3-month USD CME Term SOFR + 2.00%) 6.99% 7/16/20352,3,10   10,000    9,700 
CLI Funding V, LLC, Series 2020-2A, Class B, 3.56% 9/15/20452,10   479    419 
CLI Funding V, LLC, Series 2020-1A, Class B, 3.62% 9/18/20452,10   889    777 
CLI Funding VI, LLC, Series 2020-2A, Class A, 2.03% 9/15/20452,10   6,385    5,533 
CLI Funding VI, LLC, Series 2020-1A, Class A, 2.08% 9/18/20452,10   1,241    1,077 
CLI Funding VI, LLC, Series 2020-3A, Class A, 2.07% 10/18/20452,10   2,209    1,921 
CLI Funding VIII, LLC, Series 2021-1A, Class A, 1.64% 2/18/20462,10   10,720    9,151 
CLI Funding VIII, LLC, Series 2021-1A, Class A, 2.38% 2/18/20462,10   1,153    968 
CPS Auto Receivables Trust, Series 2023-A, Class A, 5.54% 3/16/20262,10   968    964 
CPS Auto Receivables Trust, Series 2020-B, Class D, 4.75% 4/15/20262,10   265    264 
CPS Auto Receivables Trust, Series 2022-B, Class A, 2.88% 6/15/20262,10   7,423    7,332 
CPS Auto Receivables Trust, Series 2021-A, Class C, 0.83% 9/15/20262,10   304    303 
CPS Auto Receivables Trust, Series 2023-A, Class B, 5.47% 11/16/20262,10   1,102    1,087 
CPS Auto Receivables Trust, Series 2021-A, Class D, 1.16% 12/15/20262,10   1,643    1,578 
CPS Auto Receivables Trust, Series 2023-B, Class A, 5.91% 8/16/20272,10   9,046    9,023 
CPS Auto Receivables Trust, Series 2022-B, Class B, 3.88% 8/15/20282,10   13,609    13,251 
CPS Auto Receivables Trust, Series 2022-B, Class C, 4.33% 8/15/20282,10   18,032    17,392 
CPS Auto Receivables Trust, Series 2023-A, Class C, 5.54% 4/16/20292,10   2,352    2,307 
CPS Auto Receivables Trust, Series 2023-A, Class D, 6.44% 4/16/20292,10   3,525    3,482 
CPS Auto Receivables Trust, Series 2022-C, Class A, 4.18% 4/15/20302,10   11,014    10,933 
Credit Acceptance Auto Loan Trust, Series 2021-3A, Class A, 1.00% 5/15/20302,10   5,556    5,412 

 

56 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Asset-backed obligations (continued)        
Crestline Denali CLO XVII, LLC, Series 2018-1, Class C, (3-month USD-LIBOR + 2.35%) 7.61% 10/15/20312,3,10  USD2,000   $1,952 
CWHEQ Revolving Home Equity Loan Trust, Series 2005-C, Class 2A, FSA insured, (1-month USD-LIBOR + 0.18%) 5.373% 7/15/20353,10   642    605 
CWHEQ Revolving Home Equity Loan Trust, Series 2006-I, Class 2A, FSA insured, (1-month USD-LIBOR + 0.14%) 5.333% 1/15/20373,10   1,115    1,008 
CWHEQ Revolving Home Equity Loan Trust, Series 2007-B, Class A, FSA insured, (1-month USD-LIBOR + 0.15%) 5.343% 2/15/20373,10   1,640    1,527 
Discover Card Execution Note Trust, Series 2023-A1, Class A, 4.31% 3/15/202810   68,516    67,064 
Drive Auto Receivables Trust, Series 2020-2, Class C, 2.28% 8/17/202610   1,367    1,363 
Drive Auto Receivables Trust, Series 2019-3, Class D, 3.18% 10/15/202610   3,533    3,510 
Drive Auto Receivables Trust, Series 2021-1, Class C, 1.02% 6/15/202710   8,754    8,632 
Drive Auto Receivables Trust, Series 2020-2, Class D, 3.05% 5/15/202810   8,586    8,400 
Drive Auto Receivables Trust, Series 2021-1, Class D, 1.45% 1/16/202910   12,158    11,441 
DriveTime Auto Owner Trust, Series 2019-2A, Class D, 3.48% 2/18/20252,10   717    716 
DriveTime Auto Owner Trust, Series 2019-3, Class D, 2.96% 4/15/20252,10   1,161    1,152 
DriveTime Auto Owner Trust, Series 2020-2A, Class C, 3.28% 3/16/20262,10   745    739 
DriveTime Auto Owner Trust, Series 2020-3A, Class C, 1.47% 6/15/20262,10   2,243    2,194 
DriveTime Auto Owner Trust, Series 2022-2A, Class A, 2.88% 6/15/20262,10   82    81 
DriveTime Auto Owner Trust, Series 2021-1A, Class C, 0.84% 10/15/20262,10   2,057    2,003 
DriveTime Auto Owner Trust, Series 2021-1A, Class D, 1.16% 11/16/20262,10   1,242    1,150 
DriveTime Auto Owner Trust, Series 2021-2A, Class B, 0.81% 1/15/20272,10   1,445    1,436 
DriveTime Auto Owner Trust, Series 2021-2A, Class C, 1.10% 2/16/20272,10   3,693    3,573 
DriveTime Auto Owner Trust, Series 2021-2A, Class D, 1.50% 2/16/20272,10   2,495    2,325 
DriveTime Auto Owner Trust, Series 2023-1, Class A, 5.48% 4/15/20272,10   2,545    2,536 
DriveTime Auto Owner Trust, Series 2023-2, Class A, 5.88% 4/15/20272,10   5,179    5,165 
DriveTime Auto Owner Trust, Series 2023-1, Class C, 5.55% 10/16/20282,10   2,681    2,632 
DriveTime Auto Owner Trust, Series 2023-1, Class D, 6.44% 11/15/20282,10   8,340    8,244 
Dryden Senior Loan Fund, CLO, Series 2014-36, Class AR3, (3-month USD CME Term SOFR + 1.282%) 6.268% 4/15/20292,3,10   4,510    4,486 
Dryden Senior Loan Fund, CLO, Series 2015-41, Class AR, (3-month USD-LIBOR + 0.97%) 6.23% 4/15/20312,3,10   20,000    19,778 
Dryden Senior Loan Fund, CLO, Series 2018-60A, Class A, (3-month USD-LIBOR + 1.05%) 6.31% 7/15/20312,3,10   1,450    1,437 
Dryden Senior Loan Fund, CLO, Series 2022-94A, Class A, (3-month USD CME Term SOFR + 1.44%) 6.426% 7/15/20372,3,10   1,000    980 
Eaton Vance CDO, Ltd., CLO, Series 2020-2A, Class AR, (3-month USD-LIBOR + 1.15%) 6.41% 1/15/20352,3,10   1,100    1,081 
EDvestinU Private Education Loan, LLC, Series 2021-A, Class A, 1.80% 11/25/20452,10   1,122    976 
Elmwood CLO X, Ltd., Series 2021-3, Class A, (3-month USD-LIBOR + 1.04%) 6.29% 10/20/20342,3,10   2,000    1,978 
Enterprise Fleet Financing, LLC, Series 2022-3, Class A3, 4.29% 7/20/20292,10   5,938    5,717 
Enterprise Fleet Financing, LLC, Series 2022-3, Class A2, 4.38% 7/20/20292,10   9,164    8,969 
Enterprise Fleet Financing, LLC, Series 2022-4, Class A2, 5.76% 10/22/20292,10   5,551    5,533 
Exeter Automobile Receivables Trust, Series 2019-2A, Class D, 3.71% 3/17/20252,10   2,805    2,788 
Exeter Automobile Receivables Trust, Series 2023-1, Class A2, 5.61% 6/16/202510   1,868    1,867 
Exeter Automobile Receivables Trust, Series 2020-3A, Class C, 1.32% 7/15/202510   248    247 
Exeter Automobile Receivables Trust, Series 2019-3A, Class D, 3.11% 8/15/20252,10   6,052    5,988 
Exeter Automobile Receivables Trust, Series 2019-4A, Class D, 2.58% 9/15/20252,10   7,591    7,473 
Exeter Automobile Receivables Trust, Series 2023-3, Class A2, 6.11% 9/15/202510   1,459    1,461 
Exeter Automobile Receivables Trust, Series 2022-2A, Class A3, 2.80% 11/17/202510   3,648    3,632 
Exeter Automobile Receivables Trust, Series 2022-6, Class A2, 5.73% 11/17/202510   672    671 
Exeter Automobile Receivables Trust, Series 2020-1A, Class D, 2.73% 12/15/20252,10   3,284    3,214 
Exeter Automobile Receivables Trust, Series 2020-2, Class D, 4.73% 4/15/20262,10   1,901    1,889 
Exeter Automobile Receivables Trust, Series 2023-1, Class A3, 5.58% 4/15/202610   783    780 
Exeter Automobile Receivables Trust, Series 2021-2, Class C, 0.98% 6/15/202610   9,309    9,107 
Exeter Automobile Receivables Trust, Series 2020-3A, Class D, 1.73% 7/15/202610   2,977    2,912 
Exeter Automobile Receivables Trust, Series 2023-3, Class A3, 6.04% 7/15/202610   552    552 
Exeter Automobile Receivables Trust, Series 2022-2A, Class B, 3.65% 10/15/202610   19,635    19,349 
Exeter Automobile Receivables Trust, Series 2022-4A, Class B, 4.57% 1/15/202710   3,744    3,681 
Exeter Automobile Receivables Trust, Series 2021-2, Class D, 1.40% 4/15/202710   16,131    14,959 
Exeter Automobile Receivables Trust, Series 2022-6, Class B, 6.03% 8/16/202710   2,928    2,922 
Exeter Automobile Receivables Trust, Series 2023-3, Class B, 6.11% 9/15/202710   1,705    1,705 
Exeter Automobile Receivables Trust, Series 2022-6, Class C, 6.32% 5/15/202810   6,335    6,336 
Exeter Automobile Receivables Trust, Series 2023-3, Class C, 6.21% 6/15/202810   3,075    3,070 
Exeter Automobile Receivables Trust, Series 2022-2A, Class D, 4.56% 7/17/202810   7,739    7,373 
Exeter Automobile Receivables Trust, Series 2022-4A, Class C, 4.92% 12/15/202810   6,194    6,054 

 

The Bond Fund of America 57
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Asset-backed obligations (continued)        
Exeter Automobile Receivables Trust, Series 2022-6, Class D, 8.03% 4/6/202910  USD1,913   $1,974 
Exeter Automobile Receivables Trust, Series 2023-3, Class D, 6.68% 4/16/202910   5,584    5,586 
Exeter Automobile Receivables Trust, Series 2023-1, Class D, 6.69% 6/15/202910   3,227    3,218 
Exeter Automobile Receivables Trust, Series 2023-3, Class E, 9.98% 1/15/20312,10   1,150    1,155 
First Investors Auto Owner Trust, Series 2021-1A, Class B, 0.89% 3/15/20272,10   2,100    2,062 
First Investors Auto Owner Trust, Series 2021-1A, Class D, 1.62% 3/15/20272,10   950    881 
First National Master Note Trust, Series 2023-1, Class A, 5.13% 4/16/202910   8,282    8,175 
FirstKey Homes Trust, Series 2020-SFR2, Class A, 1.266% 10/19/20372,10   29,239    26,267 
FirstKey Homes Trust, Series 2021-SFR3, Class A, 2.135% 12/17/20382,10   4,136    3,652 
FirstKey Homes Trust, Series 2022-SFR2, Class A, 4.145% 5/17/20392,10   8,678    8,186 
Ford Credit Auto Lease Trust, Series 2023-A, Class A2A, 5.19% 6/15/202510   894    891 
Ford Credit Auto Lease Trust, Series 2023-A, Class A3, 4.94% 3/15/202610   3,756    3,717 
Ford Credit Auto Lease Trust, Series 2023-A, Class A4, 4.83% 5/15/202610   3,347    3,298 
Ford Credit Auto Owner Trust, Series 2023-A, Class A2A, 5.14% 3/15/202610   8,314    8,276 
Ford Credit Auto Owner Trust, Series 2019-2, Class A, 3.06% 4/15/202610   10,000    9,790 
Ford Credit Auto Owner Trust, Series 2023-B, Class A3, 5.23% 5/15/202810   5,614    5,609 
Ford Credit Auto Owner Trust, Series 2023-B, Class A4, 5.06% 2/15/202910   4,382    4,374 
Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.52% 7/15/20302,10   13,729    13,555 
Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.19% 7/15/20312,10   19,385    18,637 
Ford Credit Auto Owner Trust, Series 2020-1, Class A, 2.04% 8/15/20312,10   68,237    64,254 
Ford Credit Auto Owner Trust, Series 2021-1, Class A, 1.37% 10/17/20332,10   21,970    19,633 
Ford Credit Auto Owner Trust, Series 2023-1, Class A, 4.85% 8/15/20352,10   15,800    15,483 
Ford Credit Floorplan Master Owner Trust, Series 2023-1, Class A1, 4.92% 5/15/20282,10   30,053    29,761 
Fortress Credit BSL, Ltd., CLO, Series 2022-2, Class C1, (3-month USD CME Term SOFR + 4.45%) 8.804% 10/18/20332,3,10   2,000    2,004 
Galaxy CLO, Ltd., Series 2017-23, Class AR, (3-month USD-LIBOR + 0.87%) 6.143% 4/24/20292,3,10   3,376    3,350 
GCI Funding I, LLC, Series 2020-1, Class A, 2.82% 10/18/20452,10   1,330    1,167 
GCI Funding I, LLC, Series 2020-1, Class B, 3.81% 10/18/20452,10   676    600 
GCI Funding I, LLC, Series 2021-1, Class A, 2.38% 6/18/20462,10   6,651    5,661 
GCI Funding I, LLC, Series 2021-1, Class B, 3.04% 6/18/20462,10   224    186 
Generate CLO, Ltd., Series 4A, Class A1R, (3-month USD-LIBOR + 1.09%) 6.34% 4/20/20322,3,10   1,000    988 
Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 9/17/20392,10   7,523    6,953 
Global SC Finance V SRL, Series 2020-1A, Class B, 3.55% 10/17/20402,10   1,088    972 
Global SC Finance VII SRL, Series 2021-1A, Class A, 1.86% 4/17/20412,10   50,763    43,607 
Global SC Finance VII SRL, Series 2021-2A, Class A, 1.95% 8/17/20412,10   36,190    31,276 
Global SC Finance VII SRL, Series 2021-2A, Class B, 2.49% 8/17/20412,10   2,930    2,483 
GLS Auto Receivables Trust, Series 2023-2, Class A2, 5.70% 1/15/20272,10   6,409    6,383 
GM Financial Automobile Leasing Trust, Series 2020-4, Class C, 1.05% 5/18/202610   3,700    3,491 
GM Financial Revolving Receivables Trust, Series 2023-1, Class A, 5.12% 4/11/20352,10   35,338    34,990 
GM Financial Revolving Receivables Trust, Series 2022-1, Class A, 5.91% 10/11/20352,10   42,166    43,024 
GMF Floorplan Owner Revolving Trust, Series 2023-1, Class A1, 5.45% 6/15/20282,10   11,723    11,719 
GMF Floorplan Owner Revolving Trust, Series 2023-1, Class A, 5.34% 6/17/20302,10   6,944    6,929 
GoldenTree Loan Opportunities XI, Ltd., CLO, Series 2015-11A, Class AR2, (3-month USD-LIBOR + 1.07%) 6.332% 1/18/20312,3,10   8,900    8,833 
Greywolf CLO, Ltd., Series 2013-1A, Class B1RR, (3-month USD-LIBOR + 2.30%) 7.56% 4/15/20342,3,10   500    484 
Guggenheim 1828 CLO, LLC, Series 2016-1A, Class A1S1, (3-month USD-LIBOR + 1.23%) 6.49% 10/15/20312,3,10   747    742 
Guggenheim CLO, Ltd., Series 2022-2, Class D, (3-month USD CME Term SOFR + 5.95%) 10.591% 1/15/20352,3,10   1,000    991 
Gulf Stream Meridian 1, Ltd., CLO, Series 2021-4, Class A1, (3-month USD-LIBOR + 1.20%) 6.46% 7/15/20342,3,10   3,000    2,952 
Halcyon Loan Advisors Funding, Ltd., Series 2018-2, Class C, (3-month USD-LIBOR + 3.40%) 8.673% 1/22/20312,3,10   714    638 
HalseyPoint CLO II, Ltd., Series 2020-2A, Class A1, (3-month USD-LIBOR + 1.10%) 6.35% 7/20/20312,3,10   2,923    2,905 
Henderson Receivables, LLC, Series 2006-3A, Class A1, (1-month USD-LIBOR + 0.20%) 5.393% 9/15/20412,3,10   335    323 
Hertz Vehicle Financing III, LLC, Series 2021-A, Class B, 9.44% 6/25/20252,5,10   49,770    49,770 
Hertz Vehicle Financing III, LLC, Series 2021-1A, Class A, 1.21% 12/26/20252,10   54,896    51,465 
Hertz Vehicle Financing III, LLC, Series 2021-1A, Class B, 1.56% 12/26/20252,10   6,931    6,485 
Hertz Vehicle Financing III, LLC, Series 2021-1A, Class C, 2.05% 12/26/20252,10   3,902    3,630 
Hertz Vehicle Financing III, LLC, Series 2022-1A, Class A, 1.99% 6/25/20262,10   38,456    35,711 

 

58 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Asset-backed obligations (continued)        
Hertz Vehicle Financing III, LLC, Series 2022-1A, Class B, 2.19% 6/25/20262,10  USD2,237   $2,062 
Hertz Vehicle Financing III, LLC, Series 2022-1A, Class C, 2.63% 6/25/20262,10   943    864 
Hertz Vehicle Financing III, LLC, Series 2022-4A, Class A, 3.73% 9/25/20262,10   17,787    16,975 
Hertz Vehicle Financing III, LLC, Series 2021-2A, Class A, 1.68% 12/27/20272,10   77,440    67,597 
Hertz Vehicle Financing III, LLC, Series 2021-2A, Class B, 2.12% 12/27/20272,10   6,275    5,491 
Hertz Vehicle Financing III, LLC, Series 2021-2A, Class C, 2.52% 12/27/20272,10   3,138    2,711 
Home Equity Asset Trust, Series 2004-7, Class M1, (1-month USD-LIBOR + 0.62%) 6.080% 1/25/20353,10   205    203 
Honda Auto Receivables Owner Trust, Series 2023-1, Class A3, 5.04% 4/21/202710   1,426    1,418 
Honda Auto Receivables Owner Trust, Series 2023-1, Class A4, 4.38% 6/21/202910   1,308    1,301 
HPS Loan Management 6-2015, Ltd., Series 6A-2015, Class A1R, (3-month USD-LIBOR + 1.00%) 6.326% 2/5/20312,3,10   5,994    5,957 
Hyundai Auto Lease Securitization Trust, Series 2023-A, Class A2A, 5.20% 4/15/20252,10   1,159    1,155 
Hyundai Auto Lease Securitization Trust, Series 2023-A, Class A3, 5.05% 1/15/20262,10   2,417    2,398 
Hyundai Auto Lease Securitization Trust, Series 2023-A, Class A4, 4.94% 11/16/20262,10   1,462    1,445 
Juniper Valley Park CLO, Ltd., Series 2023-1, Class A1, (3-month USD CME Term SOFR + 1.85%) 7.005% 7/20/20352,3,10   17,438    17,443 
KKR Financial CLO, Ltd., Series 22-43, Class D, (3-month USD CME Term SOFR + 6.12%) 11.106% 7/15/20342,3,10   1,180    1,170 
KKR Financial CLO, Ltd., Series 22-42A, Class B, (3-month USD CME Term SOFR + 2.05%) 7.098% 7/20/20342,3,10   15,000    14,876 
KKR Static CLO I, Ltd., Series 2021-1A, Class C, (3-month USD CME Term SOFR + 3.40%) 8.448% 7/20/20312,3,10   3,000    3,010 
LAD Auto Receivables Trust, Series 2021-1A, Class A, 1.30% 8/17/20262,10   4,882    4,760 
LAD Auto Receivables Trust, Series 2023-1, Class A2, 5.68% 10/15/20262,10   9,330    9,287 
LAD Auto Receivables Trust, Series 2021-1A, Class B, 1.94% 11/16/20262,10   1,804    1,707 
LAD Auto Receivables Trust, Series 2022-1, Class A, 5.21% 6/15/20272,10   6,028    5,959 
LAD Auto Receivables Trust, Series 2023-1, Class A3, 5.48% 6/15/20272,10   6,324    6,249 
LAD Auto Receivables Trust, Series 2023-2, Class A2, 5.93% 6/15/20272,10   6,774    6,743 
LAD Auto Receivables Trust, Series 2022-1, Class B, 5.87% 9/15/20272,10   2,901    2,871 
LAD Auto Receivables Trust, Series 2023-1, Class C, 6.18% 12/15/20272,10   927    922 
LAD Auto Receivables Trust, Series 2023-2, Class A3, 5.42% 2/15/20282,10   21,187    20,894 
LAD Auto Receivables Trust, Series 2023-2, Class B, 5.45% 4/15/20282,10   4,473    4,408 
LAD Auto Receivables Trust, Series 2023-2, Class C, 5.58% 9/15/20282,10   9,891    9,737 
LAD Auto Receivables Trust, Series 2022-1, Class C, 6.85% 4/15/20302,10   4,131    4,120 
LAD Auto Receivables Trust, Series 2023-1, Class D, 7.30% 6/17/20302,10   981    990 
LAD Auto Receivables Trust, Series 2023-2, Class D, 6.30% 2/15/20312,10   895    880 
Madison Park Funding, Ltd., CLO, Series 2015-17A, Class AR2, (3-month USD-LIBOR + 1.00%) 6.261% 7/21/20302,3,10   4,958    4,917 
Madison Park Funding, Ltd., CLO, Series 2021-50A, Class A, (3-month USD CME Term SOFR + 1.402%) 6.405% 4/19/20342,3,10   250    247 
Madison Park Funding, Ltd., CLO, Series 2020-45A, Class AR, (3-month USD-LIBOR + 1.12%) 6.38% 7/15/20342,3,10   500    488 
Marathon CLO, Ltd., Series 2017-9A, Class A1AR, (3-month USD-LIBOR + 1.15%) 6.41% 4/15/20292,3,10   2,695    2,678 
Marathon Static CLO, Ltd., Series 2022-18A, Class A1, (3-month USD-LIBOR + 2.22%) 7.268% 7/20/20302,3,10   10,119    10,103 
MidOcean Credit CLO, Series 2018-9, Class D, (3-month USD-LIBOR + 3.30%) 8.55% 7/20/20312,3,10   2,500    2,209 
Mission Lane Credit Card Master Trust, Series 2022-B, Class A1, 8.25% 1/15/20285,8,10   6,581    6,563 
Mission Lane Credit Card Master Trust, Series 2022-B, Class A2, 8.73% 1/15/20285,8,10   1,050    1,047 
Mission Lane Credit Card Master Trust, Series 2023-A, Class A, 7.23% 7/17/20282,10   22,893    22,681 
Navient Student Loan Trust, Series 2021-A, Class A, 0.84% 5/15/20692,10   5,473    4,752 
Navient Student Loan Trust, Series 2021-B, Class A, 0.94% 7/15/20692,10   5,239    4,529 
Navient Student Loan Trust, Series 2021-C, Class A, 1.06% 10/15/20692,10   26,987    23,299 
Navient Student Loan Trust, Series 2021-EA, Class A, 0.97% 12/16/20692,10   10,127    8,568 
Navient Student Loan Trust, Series 2021-FA, Class A, 1.11% 2/18/20702,10   3,367    2,813 
Navient Student Loan Trust, Series 2021-G, Class A, 1.58% 4/15/20702,10   6,177    5,308 
Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 11/15/20462,10   23,019    20,077 
Nelnet Student Loan Trust, Series 2021-C, Class AFX, 1.32% 4/20/20622,10   2,673    2,376 
Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/20622,10   30,296    26,908 
Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 4/20/20622,10   67,894    60,377 
Nelnet Student Loan Trust, Series 2021-C, Class AFL, (1-month USD-LIBOR + 0.74%) 5.886% 4/20/20622,3,10   19,769    19,411 

 

The Bond Fund of America 59
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Asset-backed obligations (continued)        
Neuberger Berman CLO, Ltd., Series 2018-29, Class C, (3-month USD-LIBOR + 2.15%) 7.415% 10/19/20312,3,10  USD1,000   $983 
Neuberger Berman CLO, Ltd., Series 2022-49A, Class A, (3-month USD CME Term SOFR + 1.42%) 6.488% 7/25/20342,3,10   2,100    2,075 
New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/20612,10   305,300    260,542 
Newark BSL CLO 1, Ltd., Series 2016-1A, Class A1R, (3-month USD CME Term SOFR + 1.362%) 6.44% 12/21/20292,3,10   1,153    1,145 
Newark BSL CLO 2, Ltd., Series 2017-1A, Class A1R, (3-month USD-LIBOR + 0.97%) 6.225% 7/25/20302,3,10   2,041    2,019 
Nissan Auto Lease Trust, Series 2023-A, Class A3, 4.91% 1/15/202610   3,238    3,205 
Northwoods Capital, Ltd., CLO, Series 2018-11B, Class A1, (3-month USD-LIBOR + 1.10%) 6.365% 4/19/20312,3,10   2,463    2,435 
Northwoods Capital, Ltd., CLO, Series 2018-17, Class D, (3-month USD-LIBOR + 2.85%) 8.123% 4/22/20312,3,10   1,838    1,591 
Ocean Trails CLO, Series 2023-14, Class A1, (3-month USD CME Term SOFR + 2.00%) 6.78% 1/20/20352,3,10   19,600    19,640 
Ocean Trails CLO, Series 2023-14, Class B1, (3-month USD CME Term SOFR + 2.75%) 7.53% 1/20/20352,3,10   500    501 
Ocean Trails CLO, Series 2022-12A, Class A2, (3-month USD CME Term SOFR + 1.80%) 6.828% 7/20/20352,3,10   8,000    7,778 
OCP CLO, Ltd., Series 2018-15A, Class A1, (3-month USD-LIBOR + 1.10%) 6.35% 7/20/20312,3,10   10,250    10,174 
OCP CLO, Ltd., Series 2019-16A, Class AR, (3-month USD-LIBOR + 1.00%) 6.211% 4/10/20332,3,10   2,000    1,972 
OCP CLO, Ltd., Series 2023-28, Class D, (3-month USD CME Term SOFR + 5.35%) 10.597% 7/16/20362,3,10   500    502 
Octagon 64, Ltd., CLO, Series 2022-1A, Class B1, (3-month USD CME Term SOFR + 2.10%) 7.156% 7/21/20372,3,10   1,000    994 
Octagon Investment Partners 48, Ltd., CLO, Series 2020-3, Class DR, (3-month USD-LIBOR + 3.10%) 8.35% 10/20/20342,3,10   250    229 
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class A, 1.59% 5/17/20272,10   15,641    14,947 
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class B, 2.28% 5/17/20272,10   700    658 
Oportun Funding, LLC, Series 2021-A, Class A, 1.21% 3/8/20282,10   4,103    3,911 
Oportun Funding, LLC, Series 2021-B, Class A, 1.47% 5/8/20312,10   10,824    9,814 
Palmer Square Loan Funding, CLO, Series 2020-4, Class A1, (3-month USD-LIBOR + 1.00%) 6.396% 11/25/20282,3,10   4,965    4,951 
Palmer Square Loan Funding, CLO, Series 2021-1, Class A1, (3-month USD-LIBOR + 0.90%) 6.15% 4/20/20292,3,10   1,397    1,389 
Palmer Square Loan Funding, CLO, Series 2021-2A, Class A1, (3-month USD-LIBOR + 0.80%) 6.179% 5/20/20292,3,10   571    566 
Palmer Square Loan Funding, CLO, Series 2021-3, Class A1, (3-month USD-LIBOR + 0.80%) 6.05% 7/20/20292,3,10   3,252    3,213 
Palmer Square Loan Funding, CLO, Series 2021-4A, Class A1, (3-month USD-LIBOR + 0.80%) 6.06% 10/15/20292,3,10   9,054    8,964 
Palmer Square Loan Funding, CLO, Series 2021-4A, Class A2, (3-month USD-LIBOR + 1.40%) 6.66% 10/15/20292,3,10   856    837 
Palmer Square Loan Funding, CLO, Series 2022-1A, Class A1, (3-month USD CME Term SOFR + 1.05%) 6.04% 4/15/20302,3,10   10,270    10,171 
Palmer Square Loan Funding, CLO, Series 2022-2A, Class A1, (3-month USD CME Term SOFR + 1.27%) 6.256% 10/15/20302,3,10   355    352 
Palmer Square Loan Funding, CLO, Series 2022-5, Class A1, (3-month USD CME Term SOFR + 1.56%) 6.546% 1/15/20312,3,10   40,077    39,912 
Palmer Square Loan Funding, CLO, Series 2022-3, Class A1A, (3-month USD CME Term SOFR + 1.82%) 6.806% 4/15/20312,3,10   4,370    4,367 
Palmer Square Loan Funding, CLO, Series 2018-2, Class A1A, (3-month USD CME Term SOFR + 0.262% + 1.10%) 6.36% 7/16/20312,3,10   5,000    4,960 
Palmer Square Loan Funding, CLO, Series 2023-1, Class A1, (3-month USD CME Term SOFR + 1.70%) 6.812% 7/20/20312,3,10   12,000    12,009 
Palmer Square Loan Funding, CLO, Series 2022-4, Class A1, (3-month USD-CME Term SOFR + 1.75%) 6.526% 7/24/20312,3,10   4,444    4,427 
Park Blue CLO, Ltd., Series 2022-1, Class A1, (3-month USD CME Term SOFR + 2.45%) 7.498% 10/20/20342,3,10   1,500    1,507 
PFS Financing Corp., Series 2021-B, Class A, 0.775% 8/17/20262,10   35,117    33,069 
PFS Financing Corp., Series 2022-D, Class A, 4.27% 8/16/20272,10   11,570    11,216 
PFS Financing Corp., Series 2022-D, Class B, 4.90% 8/16/20272,10   862    836 
PFS Financing Corp., Series 2023-A, Class A, 5.80% 3/15/20282,10   12,000    12,021 

 

60 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Asset-backed obligations (continued)        
PFS Financing Corp., Series 2023-B, Class A, 5.27% 5/15/20282,10  USD35,047   $34,846 
Pikes Peak CLO, Series 2022-11, Class A2, (3-month USD CME Term SOFR + 2.20%) 6.859% 7/25/20342,3,10   7,000    6,988 
Post CLO, Ltd., Series 2021-1, Class A, (3-month USD-LIBOR + 1.20%) 6.46% 10/15/20342,3,10   3,050    2,980 
PPM CLO, Ltd., Series 2022-6, Class A, (3-month USD CME Term SOFR + 2.45%) 7.025% 1/20/20312,3,10   2,487    2,489 
PPM CLO, Ltd., Series 2022-6, Class C, (3-month USD CME Term SOFR + 4.50%) 9.075% 1/20/20312,3,10   2,000    2,015 
Prestige Auto Receivables Trust, Series 2019-1A, Class C, 2.70% 10/15/20242,10   120    120 
Prestige Auto Receivables Trust, Series 2019-1A, Class D, 3.01% 8/15/20252,10   2,435    2,418 
Prestige Auto Receivables Trust, Series 2023-1, Class A2, 5.88% 3/16/20262,10   2,894    2,884 
Prodigy Finance DAC, Series 2021-1A, Class A, (1-month USD CME Term SOFR + 1.365%) 6.40% 7/25/20512,3,10   2,331    2,304 
Regatta VI Funding, Ltd., CLO, Series 2016-1, Class AR2, (3-month USD-LIBOR + 1.16%) 6.41% 4/20/20342,3,10   3,000    2,939 
Regatta XXII Funding, Ltd., Series 2022-2A, Class A, (3-month USD CME Term SOFR + 1.54%) 6.588% 7/20/20352,3,10   3,000    2,945 
Regatta XXII Funding, Ltd., Series 2022-2A, Class C, (3-month USD CME Term SOFR + 2.50%) 7.548% 7/20/20352,3,10   3,500    3,489 
Research-Driven Pagaya Motor Asset Trust I, Series 2022-3, Class A, 5.38% 11/25/20302,10   5,745    5,621 
Residential Funding Mortgage Securities II, Inc., Series 2006-HSA3, Class A, FSA insured, (1-month USD-LIBOR + 0.13%) 5.28% 5/25/20363,10   31    31 
RIN, Ltd., CLO, Series 2021-1, Class A, (3-month USD-LIBOR + 1.30%) 6.55% 4/20/20332,3,10   6,000    5,874 
Rockford Tower CLO, Ltd., Series 2022-1A, Class B, (3-month USD CME Term SOFR + 2.10%) 7.148% 7/20/20352,3,10   10,000    9,648 
RRAM, CLO, Series 2022-24, Class A1, (3-month USD CME Term SOFR + 2.40%) 7.386% 1/15/20322,3,10   3,848    3,862 
Santander Drive Auto Receivables Trust, Series 2019-2, Class D, 3.22% 7/15/202510   741    739 
Santander Drive Auto Receivables Trust, Series 2022-4, Class A2, 4.05% 7/15/202510   84    84 
Santander Drive Auto Receivables Trust, Series 2020-1, Class C, 4.11% 12/15/202510   7,567    7,533 
Santander Drive Auto Receivables Trust, Series 2022-7, Class A2, 5.81% 1/15/202610   2,126    2,126 
Santander Drive Auto Receivables Trust, Series 2023-2, Class A2, 5.87% 3/16/202610   3,675    3,672 
Santander Drive Auto Receivables Trust, Series 2023-1, Class A2, 5.36% 5/15/202610   2,285    2,280 
Santander Drive Auto Receivables Trust, Series 2021-2, Class C, 0.90% 6/15/202610   10,533    10,388 
Santander Drive Auto Receivables Trust, Series 2022-5, Class A3, 4.11% 8/17/202610   139    138 
Santander Drive Auto Receivables Trust, Series 2020-3, Class D, 1.64% 11/16/202610   5,129    5,000 
Santander Drive Auto Receivables Trust, Series 2022-5, Class B, 4.43% 3/15/202710   6,249    6,128 
Santander Drive Auto Receivables Trust, Series 2022-7, Class A3, 5.75% 4/15/202710   557    556 
Santander Drive Auto Receivables Trust, Series 2022-6, Class B, 4.72% 6/15/202710   4,737    4,637 
Santander Drive Auto Receivables Trust, Series 2021-2, Class D, 1.35% 7/15/202710   11,111    10,504 
Santander Drive Auto Receivables Trust, Series 2021-3, Class C, 0.95% 9/15/202710   9,296    9,107 
Santander Drive Auto Receivables Trust, Series 2021-3, Class D, 1.33% 9/15/202710   7,003    6,541 
Santander Drive Auto Receivables Trust, Series 2022-7, Class B, 5.95% 1/17/202810   1,309    1,304 
Santander Drive Auto Receivables Trust, Series 2023-1, Class B, 4.98% 2/15/202810   5,650    5,550 
Santander Drive Auto Receivables Trust, Series 2022-5, Class C, 4.74% 10/15/202810   5,663    5,488 
Santander Drive Auto Receivables Trust, Series 2022-6, Class C, 4.96% 11/15/202810   4,624    4,497 
Santander Drive Auto Receivables Trust, Series 2023-1, Class C, 5.09% 5/15/203010   3,968    3,868 
Santander Drive Auto Receivables Trust, Series 2022-7, Class C, 6.69% 3/17/203110   2,368    2,414 
SFS Auto Receivables Securitization Trust, Series 2023-1, Class A2A, 5.89% 3/22/20272,10   14,979    14,986 
SFS Auto Receivables Securitization Trust, Series 2023-1, Class A3, 5.47% 10/20/20282,10   4,569    4,566 
SFS Auto Receivables Securitization Trust, Series 2023-1, Class A4, 5.47% 12/20/20292,10   2,641    2,633 
SFS Auto Receivables Securitization Trust, Series 2023-1, Class B, 5.71% 1/22/20302,10   2,244    2,242 
SFS Auto Receivables Securitization Trust, Series 2023-1, Class C, 5.97% 2/20/20312,10   3,578    3,573 
Signal Peak CLO, LLC, Series 2015-1, (3-month USD-LIBOR + 0.98%) 6.23% 4/20/20292,3,10   1,090    1,082 
SLAM, Ltd., Series 2021-1, Class A, 2.434% 6/15/20462,10   15,746    13,533 
SLAM, Ltd., Series 2021-1, Class B, 3.422% 6/15/20462,10   2,899    2,424 
SMB Private Education Loan Trust, Series 2021-A, Class APT2, 1.07% 1/15/20532,10   4,747    4,062 
SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 2.636% 10/15/20462,10   12,554    10,933 

 

The Bond Fund of America 61
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Asset-backed obligations (continued)        
Sound Point CLO, Ltd., Series 2015-1RA, Class AR, (3-month USD-LIBOR + 1.08%) 6.34% 4/15/20302,3,10  USD1,983   $1,968 
SPRITE, Ltd., Series 2021-1, Class A, 3.75% 11/15/20462,10   17,696    15,871 
Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 10/15/20412,10   2,064    1,671 
Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/20332,10   4,916    4,453 
Stonepeak Infrastructure Partners, Series 2021-1A, Class A, 2.675% 2/28/20332,10   6,527    5,806 
Stratus Static CLO, Ltd., Series 2021-1, Class A, (3-month USD-LIBOR + 0.80%) 6.05% 12/29/20292,3,10   321    318 
Stratus Static CLO, Ltd., Series 2022-1, Class A, (3-month USD CME Term SOFR + 1.75%) 6.798% 7/20/20302,3,10   9,379    9,371 
Stratus Static CLO, Ltd., Series 2022-2, Class A, (3-month USD CME Term SOFR + 1.90%) 6.948% 7/20/20302,3,10   2,394    2,392 
Stratus Static CLO, Ltd., Series 2022-3, Class A, (3-month USD CME Term SOFR + 2.15%) 7.198% 10/20/20312,3,10   13,166    13,185 
Stratus Static CLO, Ltd., Series 2022-3, Class B, (3-month USD CME Term SOFR + 3.05%) 8.098% 10/20/20312,3,10   11,033    11,068 
SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 9/15/20752,10   11,671    10,632 
Sycamore Tree CLO, Ltd., Series 2023-3, Class A1, (3-month USD CME Term SOFR + 2.20%) 7.32% 4/20/20352,3,10   23,500    23,530 
Symphony Static CLO, Ltd., Series 2021-1, Class A, (3-month USD-LIBOR + 0.83%) 6.085% 10/25/20292,3,10   2,071    2,048 
TAL Advantage V, LLC, Series 2020-1A, Class A, 2.05% 9/20/20452,10   5,430    4,765 
TCW Gem, Ltd., CLO, Series 2020-1, Class DRR, (3-month USD-LIBOR + 3.40%) 8.65% 4/20/20342,3,10   750    682 
Textainer Marine Containers, Ltd., Series 2020-1A, Class A, 2.73% 8/21/20452,10   12,834    11,667 
Textainer Marine Containers, Ltd., Series 2020-1A, Class B, 4.94% 8/21/20452,10   5,163    4,818 
Textainer Marine Containers, Ltd., Series 2020-2A, Class A, 2.10% 9/20/20452,10   2,978    2,615 
Textainer Marine Containers, Ltd., Series 2021-2A, Class A, 2.23% 4/20/20462,10   26,519    22,784 
TICP CLO, Ltd., Series 2019-14, Class A1R, (3-month USD-LIBOR + 1.08%) 6.33% 10/20/20322,3,10   1,000    988 
TIF Funding II, LLC, Series 2020-1A, Class B, 3.82% 8/20/20452,10   1,440    1,269 
Toyota Auto Loan Extended Note Trust, Series 2019-1, Class A, 2.56% 11/25/20312,10   7,250    7,043 
Toyota Auto Loan Extended Note Trust, Series 2020-1, Class A, 1.35% 5/25/20332,10   5,335    4,929 
Toyota Auto Loan Extended Note Trust, Series 2021-1, Class A, 1.07% 2/27/20342,3,10   27,912    24,947 
Toyota Lease Owner Trust, Series 2023-A, Class A2, 5.30% 8/20/20252,10   14,466    14,403 
Tralee CDO, Ltd., Series 2021-7, Class D, (3-month USD-LIBOR + 3.18%) 8.435% 4/25/20342,3,10   1,000    898 
Trinitas CLO, Ltd., Series 2023-22A, Class D, (3-month USD CME Term SOFR + 6.19%) 11.263% 7/20/20362,3,10   1,500    1,504 
Triton Container Finance VIII, LLC, Series 2020-1, Class A, 2.11% 9/20/20452,10   3,659    3,140 
Triton Container Finance VIII, LLC, Series 2021-1, Class A, 1.86% 3/20/20462,10   11,745    9,874 
Triton Container Finance VIII, LLC, Series 2021-1A, Class B, 2.58% 3/20/20462,10   933    769 
Venture CDO, Ltd., CLO, Series 2017-29, Class AR, (3-month USD-LIBOR + 0.99%) 6.311% 9/7/20302,3,10   1,411    1,394 
Venture CDO, Ltd., CLO, Series 2018-32, Class A2A, (3-month USD-LIBOR + 1.07%) 6.332% 7/18/20312,3,10   1,490    1,472 
Verizon Master Trust, Series 2022-7, Class A1A, 5.23% 11/22/2027 (5.98% on 11/20/2024)1,10   2,425    2,411 
Verizon Master Trust, Series 2023-2, Class A, 4.89% 4/13/202810   16,995    16,854 
Verizon Master Trust, Series 2023-3, Class A, 4.73% 4/21/20312,10   31,476    31,228 
Vibrant CLO, Ltd., Series 2017-7, Class A1R, (3-month USD-LIBOR + 1.04%) 6.29% 9/15/20302,3,10   4,265    4,229 
Vibrant CLO, Ltd., Series 2023-16, Class A2, (3-month USD CME Term SOFR + 2.80%) 4.935% 4/15/20362,3,10   2,000    2,019 
Wellfleet CLO, Ltd., Series 2022-1, Class A2, (3-month USD CME Term SOFR + 1.95%) 6.936% 4/15/20342,3,10   5,000    4,892 
Wellfleet CLO, Ltd., Series 2022-1, Class C, (3-month USD CME Term SOFR + 2.85%) 7.836% 4/15/20342,3,10   1,100    1,085 
Westlake Automobile Receivables Trust, Series 2020-2, Class C, 2.01% 7/15/20252,10   311    310 
Westlake Automobile Receivables Trust, Series 2022-2A, Class A2A, 3.36% 8/15/20252,10   165    164 
Westlake Automobile Receivables Trust, Series 2020-3A, Class C, 1.24% 11/17/20252,10   2,699    2,666 
Westlake Automobile Receivables Trust, Series 2020-3A, Class D, 1.65% 2/17/20262,10   8,060    7,745 
Westlake Automobile Receivables Trust, Series 2023-1, Class A2A, 5.51% 6/15/20262,10   3,043    3,032 
Westlake Automobile Receivables Trust, Series 2021-2, Class B, 0.62% 7/15/20262,10   10,314    10,176 

 

62 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Asset-backed obligations (continued)        
Westlake Automobile Receivables Trust, Series 2021-2, Class C, 0.89% 7/15/20262,10  USD13,309   $12,722 
Westlake Automobile Receivables Trust, Series 2023-2, Class A2A, 5.87% 7/15/20262,10   1,254    1,251 
Westlake Automobile Receivables Trust, Series 2021-2, Class D, 1.23% 12/15/20262,10   8,825    8,180 
Westlake Automobile Receivables Trust, Series 2023-2, Class A3, 5.80% 2/16/20272,10   12,615    12,601 
Westlake Automobile Receivables Trust, Series 2022-1A, Class D, 3.49% 3/15/20272,10   5,523    5,237 
Westlake Automobile Receivables Trust, Series 2022-3, Class B, 5.99% 12/15/20272,10   5,950    5,903 
Westlake Automobile Receivables Trust, Series 2022-3, Class C, 6.44% 12/15/20272,10   4,531    4,524 
Westlake Automobile Receivables Trust, Series 2023-1, Class A3, 5.21% 1/18/20282,10   993    983 
Westlake Automobile Receivables Trust, Series 2023-1, Class B, 5.41% 1/18/20282,10   1,062    1,049 
Westlake Automobile Receivables Trust, Series 2023-1, Class C, 5.74% 8/15/20282,10   2,059    2,033 
Westlake Automobile Receivables Trust, Series 2023-1, Class D, 6.79% 11/15/20282,10   4,024    4,018 
Wind River CLO, Ltd., Series 2021-3A, Class A, (3-month USD-LIBOR + 1.15%) 6.40% 7/20/20332,3,10   311    303 
Wind River CLO, Ltd., Series 2022-1A, Class A, (3-month USD CME Term SOFR + 1.53%) 6.578% 7/20/20352,3,10   10,000    9,809 
World Financial Network Credit Card Master Trust, Series 2023-A, Class A, 5.02% 3/15/203010   8,349    8,259 
         3,618,833 
           
Bonds & notes of governments & government agencies outside the U.S. 1.14%          
Asian Development Bank 4.125% 9/27/2024   7,629    7,511 
Asian Development Bank 1.50% 10/18/2024   15,979    15,223 
Asian Development Bank 2.50% 11/2/2027   3,451    3,206 
Asian Development Bank 2.75% 1/19/2028   3    3 
Asian Development Bank 3.875% 9/28/2032   1,768    1,752 
British Columbia (Province of) 4.20% 7/6/2033   42,709    42,653 
Caisse d’Amortissement de la Dette Sociale 1.125% 11/29/20242   10,000    9,427 
Colombia (Republic of) 7.50% 2/2/2034   17,480    17,138 
CPPIB Capital, Inc. 0.50% 9/16/20242   3,887    3,664 
CPPIB Capital, Inc. (USD-SOFR + 1.25%) 5.05% 3/11/20262,3   6,621    6,769 
CPPIB Capital, Inc. 0.875% 9/9/20262   8,156    7,234 
Development Bank of Japan, Inc. 1.75% 2/18/20252   6,928    6,529 
Development Bank of Japan, Inc. 1.25% 10/20/20262   8,230    7,301 
Development Bank of Japan, Inc. 1.75% 10/20/20312   3,068    2,510 
Dominican Republic 7.05% 2/3/20312   4,690    4,683 
Greece (Hellenic Republic of) 3.875% 6/15/2028  EUR154,250    171,442 
Greece (Hellenic Republic of) 1.50% 6/18/2030   77,550    73,631 
Greece (Hellenic Republic of) 0.75% 6/18/2031   68,950    60,434 
Greece (Hellenic Republic of) 4.25% 6/15/2033   176,100    201,373 
Indonesia Asahan Aluminium (Persero) PT 5.71% 11/15/20232  USD2,050    2,042 
Indonesia Asahan Aluminium (Persero) PT 6.53% 11/15/2028   8,528    8,781 
Indonesia Asahan Aluminium (Persero) PT 6.53% 11/15/20282   1,867    1,922 
Indonesia Asahan Aluminium (Persero) PT 5.45% 5/15/2030   8,000    7,764 
Indonesia Asahan Aluminium (Persero) PT 6.757% 11/15/20482   655    641 
Indonesia Asahan Aluminium (Persero) PT 5.80% 5/15/2050   3,000    2,650 
Indonesia Asahan Aluminium (Persero) PT 5.80% 5/15/20502   2,690    2,376 
Inter-American Development Bank 4.50% 5/15/2026   11,746    11,716 
Inter-American Development Bank 1.125% 7/20/2028   1    1 
International Bank for Reconstruction and Development 1.625% 1/15/2025   4    4 
International Bank for Reconstruction and Development 0.75% 3/11/2025   4,974    4,629 
Japan Bank for International Cooperation 2.875% 4/14/2025   5,488    5,259 
Japan Bank for International Cooperation 1.875% 4/15/2031   6,576    5,440 
Kommuninvest i Sverige Aktiebolag 0.50% 7/5/20232   10,129    10,129 
OMERS Finance Trust 3.50% 4/19/20322   3,470    3,184 
Ontario Teachers’ Finance Trust 0.875% 9/21/20262   7,433    6,562 
Ontario Teachers’ Finance Trust 3.00% 4/13/20272   4,279    4,001 
Ontario Teachers’ Finance Trust 2.00% 4/16/20312   6,787    5,642 
Panama (Republic of) 3.75% 4/17/2026   27,844    27,415 
Panama (Republic of) 3.362% 6/30/2031   24,791    21,339 
Panama (Republic of) 2.252% 9/29/2032   11,340    8,694 
Peru (Republic of) 2.783% 1/23/2031   18,960    16,255 
PETRONAS Capital, Ltd. 3.50% 4/21/20302   4,450    4,110 
PETRONAS Capital, Ltd. 4.55% 4/21/20502   5,695    5,236 
PSP Capital, Inc. 1.625% 10/26/20282   6,054    5,228 
Russian Federation 1.85% 11/20/20324  EUR12,500    6,070 

 

The Bond Fund of America 63
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Bonds & notes of governments & government agencies outside the U.S. (continued)        
Russian Federation 5.10% 3/28/20354  USD52,800   $22,176 
Russian Federation 5.10% 3/28/20352,4   800    336 
Swedish Export Credit Corp. 3.625% 9/3/2024   4,489    4,389 
United Mexican States 5.40% 2/9/2028   2,175    2,217 
United Mexican States 4.875% 5/19/2033   390    373 
United Mexican States 6.35% 2/9/2035   743    783 
United Mexican States 5.00% 4/27/2051   5,100    4,435 
United Mexican States 4.40% 2/12/2052   229    181 
United Mexican States 6.338% 5/4/2053   7,175    7,327 
United Mexican States 3.75% 4/19/2071   465    311 
         862,101 
           
Municipals 0.52%          
California 0.00%          
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-B, 2.746% 6/1/2034   2,685    2,190 
           
Connecticut 0.00%          
Housing Fin. Auth., Housing Mortgage Fin. Program Rev. Ref. Bonds, Series 2015-C-1, 3.50% 11/15/2045   745    740 
           
Illinois 0.37%          
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2010-C, 6.319% 11/1/2029   14,400    14,387 
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2009-E, 6.138% 12/1/2039   57,980    54,849 
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2010-D, 6.519% 12/1/2040   5,770    5,500 
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Qualified School Construction Bonds), Series 2009-G, 1.75% 12/15/2025   13,760    12,282 
G.O. Bonds, Series 2020-A, 3.14% 10/1/2024   1,520    1,471 
G.O. Bonds, Series 2020-A, 3.24% 10/1/2025   2,245    2,135 
G.O. Bonds, Series 2013-B, 4.91% 4/1/2027   3,250    3,205 
G.O. Bonds, Series 2019-A, 5.70% 4/1/2031   7,530    7,586 
G.O. Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033   161,540    158,913 
G.O. Bonds, Taxable Build America Bonds, Series 2010-2, 6.05% 3/1/2024   1,905    1,905 
G.O. Bonds, Taxable Build America Bonds, Series 2010-2, 6.15% 3/1/2025   6,205    6,235 
G.O. Bonds, Taxable Build America Bonds, Series 2010-1, 6.63% 2/1/2035   5,285    5,520 
Housing Dev. Auth., Multi Family Housing Rev. Bonds (Marshall Field Garden Apartment Homes), Series 2015, (SIFMA Municipal Swap Index + 1.00%) 5.01% 5/15/2050 (put 5/15/2025)3   6,275    6,286 
Housing Dev. Auth., Rev. Bonds, Series 2016-A, 4.00% 4/1/2046   415    413 
         280,687 
           
Iowa 0.00%          
Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2016-A, 4.00% 7/1/2046   345    344 
           
Kentucky 0.00%          
Housing Corp., Housing Rev. Bonds, Series 2013-D, 3.50% 1/1/2033   435    432 
           
Maine 0.00%          
Housing Auth., Mortgage Purchase Rev. Ref. Bonds, Series 2015-E-1, AMT, 3.50% 11/15/2035   1,020    1,009 
           
Maryland 0.00%          
Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2014-B, AMT, 3.25% 9/1/2044   430    428 

 

64 The Bond Fund of America
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Municipals (continued)        
Massachusetts 0.00%        
Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 178, 3.50% 6/1/2042  USD205   $203 
           
Michigan 0.01%          
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.50% 6/1/2047   5,145    5,072 
           
Minnesota 0.00%          
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-A, AMT, 4.00% 1/1/2041   110    109 
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-C, AMT, 4.00% 1/1/2045   1,490    1,481 
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-E, AMT, 3.50% 1/1/2046   860    850 
         2,440 
           
Missouri 0.00%          
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2015-A, 3.75% 5/1/2038   345    342 
           
Nebraska 0.00%          
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2015-C, 3.50% 9/1/2045   225    224 
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2016-A, 3.50% 9/1/2046   1,210    1,196 
         1,420 
           
New Jersey 0.01%          
Econ. Dev. Auth., State Pension Funding Bonds, Series 1997-A, National insured, 7.425% 2/15/2029   4,400    4,731 
           
           
New York 0.04%          
Dormitory Auth., Taxable State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-C, 2.202% 3/15/2034   39,115    30,802 
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 52, AMT, 3.50% 10/1/2030   495    490 
         31,292 
           
Ohio 0.03%          
Cleveland-Cuyahoga Port Auth., Federal Lease Rev. Bonds (VA Cleveland Health Care Center Project), Series 2021, 4.425% 5/1/2031   24,155    20,717 
           
           
South Carolina 0.00%          
Housing Fin. and Dev. Auth., Mortgage Rev. Ref. Bonds, Series 2016-A, 4.00% 7/1/2036   325    323 
Housing Fin. Auth., Mortgage Rev. Ref. Bonds, Series 2014, AMT, 4.00% 7/1/2041   865    861 
         1,184 
           
Tennessee 0.00%          
Housing Dev. Agcy., Homeownership Program Bonds, Series 2015-A, 3.50% 7/1/2045   460    455 
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2013-2-A, AMT, 4.00% 7/1/2043   50    50 
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-1-A, AMT, 4.00% 7/1/2045   770    765 
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-2-A, AMT, 4.00% 1/1/2046   1,120    1,111 
         2,381 
           
Texas 0.02%          
Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, 3.236% 10/1/2052   8,155    6,012 
SA Energy Acquisition Public Fac. Corp., Gas Supply Rev. Bonds, Series 2007, 5.50% 8/1/2023   6,000    6,005 
         12,017 

 

The Bond Fund of America 65
 
Bonds, notes & other debt instruments (continued)  Principal amount
(000)
   Value
(000)
 
Municipals (continued)        
Utah 0.00%          
Housing Corp., Single Family Mortgage Bonds, Class III, Series 2015-D-2, 4.00% 1/1/2045  USD385   $383 
           
Wisconsin 0.04%          
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2015-A, AMT, 4.00% 9/1/2045   440    437 
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2016-A, AMT, 3.50% 3/1/2046   775    764 
Public Fin. Auth., Federal Lease Rev. Bonds (Fort Sam Acquisition Fncg.), Series 2022, 4.95% 3/1/2034   28,510    26,754 
         27,955 
           
Wyoming 0.00%          
Community Dev. Auth., Housing Rev. Bonds, Series 2015-6, 4.00% 6/1/2045   130    130 
           
Total municipals        396,097 
           
Federal agency bonds & notes 0.05%          
Fannie Mae 1.625% 1/7/2025   7    7 
Fannie Mae 0.875% 8/5/2030   2,563    2,061 
Federal Farm Credit Banks 1.60% 7/13/2033   1,957    1,525 
Freddie Mac 0.375% 9/23/2025   9,449    8,573 
Industrial Bank of Korea 0.625% 9/17/2024   1,000    943 
Korea Electric Power Corp. 4.00% 6/14/2027   3,931    3,800 
Korea Gas Corp. 3.875% 2/12/2024   12,000    11,861 
Korea National Oil Corp. 2.125% 4/18/2027   2,069    1,863 
Korea National Oil Corp. 2.625% 4/18/2032   3,000    2,514 
Sinopec Group Overseas Development (2018), Ltd. 1.45% 1/8/20262   5,500    4,986 
Tennessee Valley Authority 3.875% 3/15/2028   1,734    1,707 
         39,840 
           
Total bonds, notes & other debt instruments (cost: $77,194,872,000)        73,062,959 
           
Common stocks 0.05%   Shares      
Health care 0.05%          
Rotech Healthcare, Inc.5,8,14   342,069    35,917 
           
Consumer discretionary 0.00%          
NMG Parent, LLC5,14   4,595    551 
MYT Holding Co., Class B5,14   521,407    522 
         1,073 
           
Energy 0.00%          
Constellation Oil Services Holding SA, Class B-15,14   1,568,158    173 
           
Total common stocks (cost: $16,909,000)        37,163 
           
Preferred securities 0.01%          
Financials 0.01%          
CoBank, ACB, Class E, 6.422% noncumulative preferred shares2   6,250    5,000 
           
Total preferred securities (cost: $5,820,000)        5,000 
           
Rights & warrants 0.00%          
Consumer discretionary 0.00%          
NMG Parent, LLC, warrants, expire 9/24/20275,14   18,410    250 
           
Total rights & warrants (cost: $111,000)        250 

 

66 The Bond Fund of America
 
Short-term securities 12.15%  Shares   Value
(000)
 
Money market investments 12.15%        
Capital Group Central Cash Fund 5.15%15,16   92,044,619   $9,205,382 
           
Total short-term securities (cost: $9,202,869,000)        9,205,382 
Total investment securities 108.66% (cost: $86,420,581,000)        82,310,754 
Other assets less liabilities (8.66)%        (6,558,538)
           
Net assets 100.00%       $75,752,216 

 

Futures contracts

 

Contracts  Type  Number of
contracts
  Expiration  Notional
amount
(000)
   Value and
unrealized
appreciation
(depreciation)
at 6/30/2023
(000)
 
30 Day Federal Funds Futures  Long  1,143  July 2023   USD451,974   $166 
30 Day Federal Funds Futures  Short  861  August 2023   (339,835)   132 
30 Day Federal Funds Futures  Long  55  October 2023   21,695    (17)
30 Day Federal Funds Futures  Short  55  November 2023   (21,679)   37 
3 Month SOFR Futures  Long  55,749  December 2023   13,184,639    (26,647)
3 Month SOFR Futures  Short  36,271  March 2024   (8,581,719)   3,051 
3 Month SOFR Futures  Long  1,347  September 2024   320,721    (558)
2 Year U.S. Treasury Note Futures  Long  43,066  September 2023   8,757,202    (77,748)
5 Year U.S. Treasury Note Futures  Long  107,232  September 2023   11,483,877    (116,923)
10 Year Euro-Bund Futures  Short  2,801  September 2023   (408,770)   5,438 
10 Year Japanese Government Bond Futures  Short  346  September 2023   (356,203)   (1,215)
10 Year U.S. Treasury Note Futures  Long  59,935  September 2023   6,728,641    (93,580)
10 Year Ultra U.S. Treasury Note Futures  Short  42,617  September 2023   (5,047,451)   52,498 
20 Year U.S. Treasury Bond Futures  Short  7,685  September 2023   (975,275)   (2,340)
30 Year Ultra U.S. Treasury Bond Futures  Long  25,975  September 2023   3,538,282    33,581 
                 $(224,125)

 

Forward currency contracts

 

Contract amount        Unrealized
appreciation
(depreciation)
 
Currency purchased
(000)
  Currency sold
(000)
  Counterparty  Settlement
date
  at 6/30/2023
(000)
 
USD  30,263  MYR  138,319  BNP Paribas  7/7/2023  $460 
EUR  23,875  USD  25,698  BNP Paribas  7/7/2023   363 
EUR  6,701  USD  7,263  Bank of New York Mellon  7/7/2023   52 
MYR  138,319  USD  30,103  HSBC Bank  7/7/2023   (301)
USD  34,054  EUR  31,524  Citibank  7/7/2023   (356)
MXN  1,102,820  USD  63,956  HSBC Bank  7/11/2023   330 
USD  12,008  IDR  178,503,000  JPMorgan Chase  7/11/2023   143 
IDR  178,503,000  USD  12,000  BNP Paribas  7/11/2023   (135)
JPY  1,752,700  USD  12,653  Bank of America  7/11/2023   (486)
USD  62,684  MXN  1,102,820  HSBC Bank  7/11/2023   (1,602)
USD  272,625  KRW  348,000,000  JPMorgan Chase  7/17/2023   8,318 
USD  7,003  GBP  5,478  JPMorgan Chase  7/17/2023   45 
USD  1,739  AUD  2,566  Bank of New York Mellon  7/17/2023   29 
USD  7,546  GBP  5,995  Morgan Stanley  7/17/2023   (68)
USD  429,269  EUR  395,035  Citibank  7/17/2023   (2,178)
KRW  348,000,000  USD  273,908  HSBC Bank  7/17/2023   (9,602)
USD  63,296  AUD  93,470  Bank of New York Mellon  7/21/2023   990 
USD  15,028  AUD  21,916  Standard Chartered Bank  7/21/2023   418 
USD  3,505  AUD  5,150  Bank of America  7/21/2023   72 
USD  8,367  EUR  7,650  Morgan Stanley  7/21/2023   10 
USD  6,815  MXN  116,925  Bank of America  7/25/2023   20 
USD  88,157  EUR  80,350  Bank of America  7/27/2023   352 
JPY  5,124,500  USD  35,750  HSBC Bank  7/27/2023   (77)

 

The Bond Fund of America 67
 

Forward currency contracts (continued)

 

Contract amount        Unrealized
appreciation
(depreciation)
 
Currency purchased
(000)
  Currency sold
(000)
  Counterparty  Settlement
date
  at 6/30/2023
(000)
 
USD  6,803  KRW  8,958,500  JPMorgan Chase  8/11/2023  $(11)
KRW  8,958,500  USD  6,916  Citibank  8/11/2023   (102)
USD  19,252  ILS  69,200  Citibank  8/28/2023   543 
ILS  65,624  USD  17,687  HSBC Bank  8/28/2023   55 
ILS  3,576  USD  959  HSBC Bank  8/28/2023   8 
                  $(2,710)

 

Swap contracts

 

Interest rate swaps

 

Centrally cleared interest rate swaps

 

Receive  Pay     Notional   Value at   Upfront
premium
   Unrealized
(depreciation)
appreciation
 
Rate  Payment
frequency
  Rate  Payment
frequency
  Expiration
date
  amount
(000)
   6/30/2023
(000)
   paid
(000)
   at 6/30/2023
(000)
 
4.8585%  Annual  U.S. EFFR  Annual  1/12/2024  USD456,892   $(1,530)  $   $(1,530)
4.8674%  Annual  U.S. EFFR  Annual  1/12/2024  669,408    (2,211)       (2,211)
4.8615%  Annual  U.S. EFFR  Annual  1/12/2024  913,700    (3,046)       (3,046)
3.497%  Annual  U.S. EFFR  Annual  6/16/2024  171,500    (3,002)       (3,002)
3.52647%  Annual  U.S. EFFR  Annual  6/16/2024  461,406    (7,950)       (7,950)
3.5291%  Annual  U.S. EFFR  Annual  6/16/2024  498,594    (8,579)       (8,579)
3.4585%  Annual  U.S. EFFR  Annual  6/17/2024  26,567    (474)       (474)
3.4325%  Annual  U.S. EFFR  Annual  6/17/2024  125,900    (2,277)       (2,277)
3.177%  Annual  SOFR  Annual  2/28/2030  49,100    (1,595)       (1,595)
SOFR  Annual  3.2915%  Annual  1/12/2033  30,370    699        699 
3.278%  Annual  SOFR  Annual  3/16/2043  26,359    (591)       (591)
SOFR  Annual  3.41%  Annual  7/28/2045  319,700    (1,420)       (1,420)
SOFR  Annual  3.044%  Annual  3/16/2053  19,472    563        563 
                   $(31,413)  $   $(31,413)

 

Credit default swaps

 

Centrally cleared credit default swaps on credit indices — buy protection

 

Reference
index
  Financing
rate paid
  Payment
frequency
  Expiration
date
  Notional
Amount
(000)
  Value at
6/30/2023
(000)
   Upfront
premium
received
(000)
   Unrealized
depreciation
at 6/30/2023
(000)
 
CDX.NA.IG.40  1.00%  Quarterly  6/20/2028  USD135,852  $(2,030)  $(1,678)    $(352)

 

Centrally cleared credit default swaps on credit indices — sell protection

 

                         
Financing
rate received
  Payment
frequency
  Reference
index
  Expiration
date
  Notional
amount
(000)

17
 
Value at
6/30/2023
(000)
18
 
  Upfront
premium
paid
(000)
   Unrealized
appreciation
at 6/30/2023
(000)
 
5.00%  Quarterly  CDX.NA.HY.40  6/20/2028  USD299,000  $8,278   $5,816     $2,462 

 

68 The Bond Fund of America
 

Investments in affiliates16

 

   Value of
affiliate at
1/1/2023
(000)
  Additions
(000)
  Reductions
(000)
  Net
realized
gain
(000)
  Net
unrealized
appreciation
(000)
  Value of
affiliate at
6/30/2023
(000)
  Dividend
income
(000)
Short-term securities 12.15%                     
Money market investments 12.15%                     
Capital Group Central Cash Fund 5.15%15  $9,990,291  $22,117,823  $22,905,230  $     1,537  $             961  $9,205,382  $  313,915

 

Restricted securities8

 

   Acquisition
date
  Cost
(000)
   Value
(000)
   Percent
of net
assets
 
Rotech Healthcare, Inc.5,14  9/26/2013  $12,646   $35,917      .05%
Mission Lane Credit Card Master Trust, Series 2022-B, Class A1, 8.25% 1/15/20285,10  12/6/2022   6,580    6,563      .01 
Mission Lane Credit Card Master Trust, Series 2022-B, Class A2, 8.73% 1/15/20285,10  12/6/2022   1,050    1,047      .0019 
Ste Transcore Holdings, Inc. 3.375% 5/5/2027  6/26/2023   2,872    2,848      .0019 
Total     $23,148   $46,375      .06%

 

1 Step bond; coupon rate may change at a later date.
2 Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $9,840,913,000, which represented 12.99% of the net assets of the fund.
3 Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available.
4 Scheduled interest and/or principal payment was not received.
5 Value determined using significant unobservable inputs.
6 Amount less than one thousand.
7 Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $9,456,000, which represented .01% of the net assets of the fund.
8 Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $46,375,000, which represented .06% of the net assets of the fund.
9 Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available.
10 Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.
11 Purchased on a TBA basis.
12 All or a portion of this security was pledged as collateral. The total value of pledged collateral was $490,068,000, which represented .65% of the net assets of the fund.
13 Index-linked bond whose principal amount moves with a government price index.
14 Security did not produce income during the last 12 months.
15 Rate represents the seven-day yield at 6/30/2023.
16 Part of the same “group of investment companies” as the fund as defined under the Investment Company Act of 1940, as amended.
17 The maximum potential amount the fund may pay as a protection seller should a credit event occur.
18 The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively.
19 Amount less than .01%.

 

The Bond Fund of America 69
 

Key to abbreviations

Agcy. = Agency

AMT = Alternative Minimum Tax

Assn. = Association

AUD = Australian dollars

Auth. = Authority

BBSW = Bank Bill Swap Rate

CLO = Collateralized Loan Obligations

CME = CME Group

CMO = Collateralized Mortgage Obligations

DAC = Designated Activity Company

Dept. = Department

Dev. = Development

Econ. = Economic

EFFR = Effective Federal Funds Rate

EUR = Euros

Fac. = Facility

Fin. = Finance

Fncg. = Financing

G.O. = General Obligation

GBP = British pounds

ICE = Intercontinental Exchange, Inc.

IDR = Indonesian rupiah

ILS = Israeli shekels

JPY = Japanese yen

KRW = South Korean won

LIBOR = London Interbank Offered Rate

MXN = Mexican pesos

MYR = Malaysian ringgits

PIK = Payment In Kind

Ref. = Refunding

Rev. = Revenue

SIFMA = Securities Industry and Financial Markets Association

SOFR = Secured Overnight Financing Rate

TBA = To be announced

USD = U.S. dollars

 

Refer to the notes to financial statements.

 

70 The Bond Fund of America
 

Financial statements

 

Statement of assets and liabilities unaudited
at June 30, 2023 (dollars in thousands)

 

Assets:        
Investment securities, at value:          
Unaffiliated issuers (cost: $77,217,712)  $73,105,372      
Affiliated issuers (cost: $9,202,869)   9,205,382   $82,310,754 
Cash        21,439 
Unrealized appreciation on open forward currency contracts        12,208 
Receivables for:          
Sales of investments   10,980,859      
Sales of fund’s shares   192,910      
Dividends and interest   540,208      
Variation margin on futures contracts   47,017      
Variation margin on centrally cleared swap contracts   3,057      
Other   1    11,764,052 
         94,108,453 
Liabilities:          
Unrealized depreciation on open forward currency contracts        14,918 
Payables for:          
Purchases of investments   17,994,014      
Repurchases of fund’s shares   289,936      
Dividends on fund’s shares   5,962      
Investment advisory services   12,782      
Services provided by related parties   10,388      
Trustees’ deferred compensation   675      
Variation margin on futures contracts   24,074      
Variation margin on centrally cleared swap contracts   2,983      
Other   505    18,341,319 
Net assets at June 30, 2023       $75,752,216 
           
Net assets consist of:          
Capital paid in on shares of beneficial interest       $87,407,385 
Total accumulated loss        (11,655,169)
Net assets at June 30, 2023       $75,752,216 

 

Refer to the notes to financial statements.

 

The Bond Fund of America 71
 

Financial statements (continued)

 

Statement of assets and liabilities  
at June 30, 2023 (continued) unaudited

(dollars and shares in thousands, except per-share amounts)

 

Shares of beneficial interest issued and outstanding (no stated par value) —
unlimited shares authorized (6,681,606 total shares outstanding)

 

   Net assets   Shares
outstanding
   Net asset value
per share
 
Class A  $24,490,969    2,160,187   $11.34 
Class C   454,574    40,095    11.34 
Class T   9    1    11.34 
Class F-1   819,173    72,254    11.34 
Class F-2   23,181,067    2,044,651    11.34 
Class F-3   8,744,647    771,308    11.34 
Class 529-A   1,172,419    103,411    11.34 
Class 529-C   42,838    3,778    11.34 
Class 529-E   33,249    2,933    11.34 
Class 529-T   11    1    11.34 
Class 529-F-1   9    1    11.34 
Class 529-F-2   157,370    13,880    11.34 
Class 529-F-3   9    1    11.34 
Class R-1   38,508    3,396    11.34 
Class R-2   317,580    28,012    11.34 
Class R-2E   36,698    3,237    11.34 
Class R-3   517,946    45,685    11.34 
Class R-4   490,880    43,297    11.34 
Class R-5E   167,971    14,816    11.34 
Class R-5   285,677    25,198    11.34 
Class R-6   14,800,612    1,305,464    11.34 

 

Refer to the notes to financial statements.

 

72 The Bond Fund of America
 

Financial statements (continued)

 

Statement of operations unaudited
for the six months ended June 30, 2023 (dollars in thousands)

 

Investment income:        
Income:          
Interest from unaffiliated issuers (net of non-U.S. taxes of $239)  $1,182,765      
Dividends (includes $313,915 from affiliates)   314,088   $1,496,853 
Fees and expenses*:          
Investment advisory services   72,294      
Distribution services   38,839      
Transfer agent services   30,513      
Administrative services   11,199      
529 plan services   418      
Reports to shareholders   1,217      
Registration statement and prospectus   1,409      
Trustees’ compensation   98      
Auditing and legal   30      
Custodian   130      
Other   72    156,219 
Net investment income        1,340,634 
           
Net realized loss and unrealized appreciation:          
Net realized (loss) gain on:          
Investments (net of non-U.S. taxes of $114):          
Unaffiliated issuers   (1,630,661)     
Affiliated issuers   1,537      
Futures contracts   (538,645)     
Forward currency contracts   14,463      
Swap contracts   162,144      
Currency transactions   (1,080)   (1,992,242)
Net unrealized appreciation (depreciation) on:          
Investments:          
Unaffiliated issuers   1,994,730      
Affiliated issuers   961      
Futures contracts   (173,557)     
Forward currency contracts   (27,463)     
Swap contracts   (195,851)     
Currency translations   (66)   1,598,754 
Net realized loss and unrealized appreciation        (393,488)
           
Net increase in net assets resulting from operations       $947,146 

 

* Additional information related to class-specific fees and expenses is included in the notes to financial statements.

 

Refer to the notes to financial statements.

 

The Bond Fund of America 73
 

Financial statements (continued)

 

Statements of changes in net assets  
  (dollars in thousands)

 

   Six months ended
June 30,
2023*
   Year ended
December 31,
2022
 
Operations:          
Net investment income  $1,340,634   $1,976,697 
Net realized loss   (1,992,242)   (5,079,909)
Net unrealized appreciation (depreciation)   1,598,754    (6,961,755)
Net increase (decrease) in net assets resulting from operations   947,146    (10,064,967)
           
Distributions paid or accrued to shareholders   (1,314,148)   (2,071,532)
           
Net capital share transactions   4,957,887    3,731,382 
           
Total increase (decrease) in net assets   4,590,885    (8,405,117)
           
Net assets:          
Beginning of period   71,161,331    79,566,448 
End of period  $75,752,216   $71,161,331 

 

* Unaudited.

 

Refer to the notes to financial statements.

 

74 The Bond Fund of America
 
Notes to financial statements unaudited

 

1. Organization

 

The Bond Fund of America (the “fund”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end, diversified management investment company. The fund seeks as high a level of current income as is consistent with the preservation of capital.

 

The fund has 21 share classes consisting of six retail share classes (Classes A, C, T, F-1, F-2 and F-3), seven 529 college savings plan share classes (Classes 529-A, 529-C, 529-E, 529-T, 529-F-1, 529-F-2 and 529-F-3) and eight retirement plan share classes (Classes R-1, R-2, R-2E, R-3, R-4, R-5E, R-5 and R-6). The 529 college savings plan share classes can be used to save for college education. The retirement plan share classes are generally offered only through eligible employer-sponsored retirement plans. The fund’s share classes are described further in the following table:

 

Share class   Initial sales charge   Contingent deferred sales
charge upon redemption
  Conversion feature
Classes A and 529-A   Up to 3.75% for
Class A; up to 3.50% for
Class 529-A
  None (except 1.00% for certain redemptions within 18 months of purchase without an initial sales charge)   None
Classes C and 529-C   None   1.00% for redemptions
within one year of purchase
  Class C converts to Class A after eight years and Class 529-C converts to Class 529-A after five years
Class 529-E   None   None   None
Classes T and 529-T*   Up to 2.50%   None   None
Classes F-1, F-2, F-3, 529-F-1, 529-F-2 and 529-F-3   None   None   None
Classes R-1, R-2, R-2E, R-3, R-4, R-5E, R-5 and R-6   None   None   None
* Class T and 529-T shares are not available for purchase.

 

Holders of all share classes have equal pro rata rights to the assets, dividends and liquidation proceeds of the fund. Each share class has identical voting rights, except for the exclusive right to vote on matters affecting only its class. Share classes have different fees and expenses (“class-specific fees and expenses”), primarily due to different arrangements for distribution, transfer agent and administrative services. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different per-share dividends by each share class.

 

2. Significant accounting policies

 

The fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. The fund’s financial statements have been prepared to comply with U.S. generally accepted accounting principles (“U.S. GAAP”). These principles require the fund’s investment adviser to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements. The fund follows the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.

 

Security transactions and related investment income — Security transactions are recorded by the fund as of the date the trades are executed with brokers. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. In the event a security is purchased with a delayed payment date, the fund will segregate liquid assets sufficient to meet its payment obligations. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.

 

Class allocations — Income, fees and expenses (other than class-specific fees and expenses) are allocated daily among the various share classes based on the relative value of their settled shares. Realized gains and losses and unrealized appreciation and depreciation are allocated daily among the various share classes based on their relative net assets. Class-specific fees and expenses, such as distribution, transfer agent and administrative services, are charged directly to the respective share class.

 

The Bond Fund of America 75
 

Distributions paid or accrued to shareholders — Income dividends are declared daily after the determination of the fund’s net investment income and are paid to shareholders monthly. Capital gain distributions are recorded on the ex-dividend date. The fund may deem a portion of the income dividends and/or capital gain distributions as a return of capital for tax purposes.

 

Currency translation — Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date. Purchases and sales of investment securities and income and expenses are translated into U.S. dollars at the exchange rates on the dates of such transactions. The effects of changes in exchange rates on investment securities are included with the net realized gain or loss and net unrealized appreciation or depreciation on investments in the fund’s statement of operations. The realized gain or loss and unrealized appreciation or depreciation resulting from all other transactions denominated in currencies other than U.S. dollars are disclosed separately.

 

3. Valuation

 

Capital Research and Management Company (“CRMC”), the fund’s investment adviser, values the fund’s investments at fair value as defined by U.S. GAAP. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open.

 

Methods and inputs — The fund’s investment adviser uses the following methods and inputs to establish the fair value of the fund’s assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.

 

Equity securities, including depositary receipts, are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades.

 

Fixed-income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the fund is authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income security.

 

Fixed-income class   Examples of standard inputs
All   Benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and proprietary pricing models such as yield measures calculated using factors such as cash flows, financial or collateral performance and other reference data (collectively referred to as “standard inputs”)
Corporate bonds, notes & loans; convertible securities   Standard inputs and underlying equity of the issuer
Bonds & notes of governments & government agencies   Standard inputs and interest rate volatilities
Mortgage-backed; asset-backed obligations   Standard inputs and cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements and specific deal information
Municipal securities   Standard inputs and, for certain distressed securities, cash flows or liquidation values using a net present value calculation based on inputs that include, but are not limited to, financial statements and debt contracts

 

Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund’s investment adviser. The Capital Group Central Cash Fund (“CCF”), a fund within the Capital Group Central Fund Series (“Central Funds”), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF’s portfolio securities. The underlying securities are valued based on the policies and procedures in CCF’s statement of additional information. Exchange-traded futures are generally valued at the official settlement price of the exchange or market on which such instruments are traded, as of the close of business on the day the futures are being valued. Forward currency contracts are valued based on the spot and forward exchange rates obtained from a third-party pricing vendor. Swaps are generally valued using evaluated prices obtained from third-party pricing vendors who calculate these values based on market inputs that may include the yields of the indices referenced in the instrument and the relevant curve, dealer quotes, default probabilities and recovery rates, other reference data, and terms of the contract.

 

76 The Bond Fund of America
 

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by the fund’s investment adviser and approved by the board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, contractual or legal restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.

 

Processes and structure — The fund’s board of trustees has designated the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Committee”) to administer, implement and oversee the fair valuation process and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser’s global risk management group. The Committee reports changes to the fair valuation guidelines to the board of trustees. The fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.

 

Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The following tables present the fund’s valuation levels as of June 30, 2023 (dollars in thousands):

 

   Investment securities 
   Level 1   Level 2   Level 3   Total 
Assets:                    
Bonds, notes & other debt instruments:                    
Corporate bonds, notes & loans  $   $23,916,929    *  $23,916,929 
Mortgage-backed obligations       23,874,602    9,370    23,883,972 
U.S. Treasury bonds & notes       20,345,187        20,345,187 
Asset-backed obligations       3,561,453    57,380    3,618,833 
Bonds & notes of governments & government agencies outside the U.S.       862,101        862,101 
Municipals       396,097        396,097 
Federal agency bonds & notes       39,840        39,840 
Common stocks           37,163    37,163 
Preferred securities       5,000        5,000 
Rights & warrants           250    250 
Short-term securities   9,205,382            9,205,382 
Total  $9,205,382   $73,001,209   $104,163   $82,310,754 

 

Refer to the next page for footnotes.

 

The Bond Fund of America 77
 
   Other investments 
   Level 1   Level 2   Level 3   Total 
Assets:                    
Unrealized appreciation on futures contracts  $94,903   $   $   $94,903 
Unrealized appreciation on open forward currency contracts       12,208        12,208 
Unrealized appreciation on centrally cleared interest rate swaps       1,262        1,262 
Unrealized appreciation on centrally cleared credit default swaps       2,462        2,462 
Liabilities:                    
Unrealized depreciation on futures contracts   (319,028)           (319,028)
Unrealized depreciation on open forward currency contracts       (14,918)       (14,918)
Unrealized depreciation on centrally cleared interest rate swaps       (32,675)       (32,675)
Unrealized depreciation on centrally cleared credit default swaps       (352)       (352)
Total  $(224,125)  $(32,013)  $   $(256,138)
   
* Amount less than one thousand.
Futures contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the fund’s investment portfolio.

 

4. Risk factors

 

Investing in the fund may involve certain risks including, but not limited to, those described below.

 

Market conditions — The prices of, and the income generated by, the securities held by the fund may decline — sometimes rapidly or unpredictably — due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; and currency exchange rate, interest rate and commodity price fluctuations.

 

Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease) and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund’s investments may be negatively affected by developments in other countries and regions.

 

Issuer risks — The prices of, and the income generated by, securities held by the fund may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer’s goods or services, poor management performance, major litigation, investigations or other controversies related to the issuer, changes in the issuer’s financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives.

 

Investing in debt instruments — The prices of, and the income generated by, bonds and other debt securities held by the fund may be affected by factors such as the interest rates, maturities and credit quality of these securities.

 

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general rise in interest rates may cause investors to sell debt securities on a large scale, which could also adversely affect the price and liquidity of debt securities and could also result in increased redemptions from the fund. Falling interest rates may cause an issuer to redeem, call or refinance a debt security before its stated maturity, which may result in the fund failing to recoup the full amount of its initial investment and having to reinvest the proceeds in lower yielding securities. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities.

 

Bonds and other debt securities are also subject to credit risk, which is the possibility that the credit strength of an issuer or guarantor will weaken or be perceived to be weaker, and/or an issuer of a debt security will fail to make timely payments of principal or interest and the security will go into default. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund’s securities could cause the value of the fund’s shares to decrease. Lower quality debt securities generally have higher rates of interest and may be subject to greater price fluctuations than higher quality debt securities. Credit risk is gauged, in part, by the credit ratings of the debt securities in which the fund invests. However, ratings are only the opinions of the rating agencies issuing them and are not guarantees as to credit quality or an evaluation of market risk. The fund’s investment adviser relies on its own credit analysts to research issuers and issues in assessing credit and default risks.

 

78 The Bond Fund of America
 

Investing in mortgage-related and other asset-backed securities — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund’s net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund’s income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund’s cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks.

 

Investing in securities backed by the U.S. government — Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government. U.S. government securities are subject to market risk, interest rate risk and credit risk.

 

Liquidity risk — Certain fund holdings may be or may become difficult or impossible to sell, particularly during times of market turmoil. Liquidity may be impacted by the lack of an active market for a holding, legal or contractual restrictions on resale, or the reduced number and capacity of market participants to make a market in such holding. Market prices for less liquid or illiquid holdings may be volatile or difficult to determine, and reduced liquidity may have an adverse impact on the market price of such holdings. Additionally, the sale of less liquid or illiquid holdings may involve substantial delays (including delays in settlement) and additional costs and the fund may be unable to sell such holdings when necessary to meet its liquidity needs, or to try to limit losses, or may be forced to sell at a loss.

 

Investing outside the U.S. — Securities of issuers domiciled outside the U.S., or with significant operations or revenues outside the U.S., may lose value because of adverse political, social, economic or market developments (including social instability, regional conflicts, terrorism and war) in the countries or regions in which the issuers operate or generate revenue. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Issuers of these securities may be more susceptible to actions of foreign governments, such as nationalization, currency blockage or the imposition of price controls, sanctions, or punitive taxes, each of which could adversely impact the value of these securities. Securities markets in certain countries may be more volatile and/or less liquid than those in the U.S. Investments outside the U.S. may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the U.S. In addition, the value of investments outside the U.S. may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund’s portfolio. The risks of investing outside the U.S. may be heightened in connection with investments in emerging markets.

 

Investing in future delivery contracts — The fund may enter into contracts, such as to-be-announced contracts and mortgage dollar rolls, that involve the fund selling mortgage-related securities and simultaneously contracting to repurchase similar securities for delivery at a future date at a predetermined price. This can increase the fund’s market exposure, and the market price of the securities that the fund contracts to repurchase could drop below their purchase price. While the fund can preserve and generate capital through the use of such contracts by, for example, realizing the difference between the sale price and the future purchase price, the income generated by the fund may be reduced by engaging in such transactions. In addition, these transactions increase the turnover rate of the fund.

 

Investing in inflation-linked bonds — The values of inflation-linked bonds generally fluctuate in response to changes in real interest rates —i.e., rates of interest after factoring in inflation. A rise in real interest rates may cause the prices of inflation-linked securities to fall, while a decline in real interest rates may cause the prices to increase. Inflation-linked bonds may experience greater losses than other debt securities with similar durations when real interest rates rise faster than nominal interest rates. There can be no assurance that the value of an inflation-linked security will be directly correlated to changes in interest rates; for example, if interest rates rise for reasons other than inflation, the increase may not be reflected in the security’s inflation measure.

 

Investing in inflation-linked bonds may also reduce the fund’s distributable income during periods of deflation. If prices for goods and services decline throughout the economy, the principal and income on inflation-linked securities may decline and result in losses to the fund.

 

The Bond Fund of America 79
 

Investing in derivatives — The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional securities, such as stocks and bonds. Changes in the value of a derivative may not correlate perfectly with, and may be more sensitive to market events than, the underlying asset, rate or index, and a derivative instrument may cause the fund to lose significantly more than its initial investment. Derivatives may be difficult to value, difficult for the fund to buy or sell at an opportune time or price and difficult, or even impossible, to terminate or otherwise offset. The fund’s use of derivatives may result in losses to the fund, and investing in derivatives may reduce the fund’s returns and increase the fund’s price volatility. The fund’s counterparty to a derivative transaction (including, if applicable, the fund’s clearing broker, the derivatives exchange or the clearinghouse) may be unable or unwilling to honor its financial obligations in respect of the transaction. In certain cases, the fund may be hindered or delayed in exercising remedies against or closing out derivative instruments with a counterparty, which may result in additional losses. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

 

Management — The investment adviser to the fund actively manages the fund’s investments. Consequently, the fund is subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results. This could cause the fund to lose value or its investment results to lag relevant benchmarks or other funds with similar objectives.

 

5. Certain investment techniques

 

Index-linked bonds — The fund has invested in index-linked bonds, which are fixed-income securities whose principal value is periodically adjusted to a government price index. Over the life of an index-linked bond, interest is paid on the adjusted principal value. Increases or decreases in the principal value of index-linked bonds are recorded as interest income in the fund’s statement of operations.

 

Mortgage dollar rolls — The fund has entered into mortgage dollar roll transactions in which the fund sells a mortgage-backed security to a counterparty and simultaneously enters into an agreement with the same counterparty to buy back a similar security on a specific future date at a predetermined price. Mortgage dollar rolls are accounted for as purchase and sale transactions. Portfolio turnover rates excluding and including mortgage dollar rolls are presented at the end of the fund’s financial highlights table.

 

Loan transactions — The fund has entered into loan transactions in which the fund acquires a loan either through an agent, by assignment from another holder, or as a participation interest in another holder’s portion of a loan. The loan is often administered by a financial institution that acts as agent for the holders of the loan, and the fund may be required to receive approval from the agent and/or borrower prior to the sale of the investment. The loan’s interest rate and maturity date may change based on the terms of the loan, including potential early payments of principal.

 

Futures contracts — The fund has entered into futures contracts, which provide for the future sale by one party and purchase by another party of a specified amount of a specific financial instrument for a specified price, date, time and place designated at the time the contract is made. Futures contracts are used to strategically manage the fund’s interest rate sensitivity by increasing or decreasing the duration of the fund or a portion of the fund’s portfolio.

 

Upon entering into futures contracts, and to maintain the fund’s open positions in futures contracts, the fund is required to deposit with a futures broker, known as a futures commission merchant (“FCM”), in a segregated account in the name of the FCM an amount of cash, U.S. government securities or other liquid securities, known as initial margin. The margin required for a particular futures contract is set by the exchange on which the contract is traded to serve as collateral, and may be significantly modified from time to time by the exchange during the term of the contract.

 

On a daily basis, the fund pays or receives variation margin based on the increase or decrease in the value of the futures contracts and records variation margin on futures contracts in the statement of assets and liabilities. Futures contracts may involve a risk of loss in excess of the variation margin shown on the fund’s statement of assets and liabilities. The fund records realized gains or losses at the time the futures contract is closed or expires. Net realized gains or losses and net unrealized appreciation or depreciation from futures contracts are recorded in the fund’s statement of operations. The average month-end notional amount of futures contracts while held was $37,066,410,000.

 

Forward currency contracts — The fund has entered into forward currency contracts, which represent agreements to exchange currencies on specific future dates at predetermined rates. The fund’s investment adviser uses forward currency contracts to manage the fund’s exposure to changes in exchange rates. Upon entering into these contracts, risks may arise from the potential inability of counterparties to meet the terms of their contracts and from possible movements in exchange rates.

 

80 The Bond Fund of America
 

On a daily basis, the fund’s investment adviser values forward currency contracts and records unrealized appreciation or depreciation for open forward currency contracts in the fund’s statement of assets and liabilities. Realized gains or losses are recorded at the time the forward currency contract is closed or offset by another contract with the same broker for the same settlement date and currency.

 

Closed forward currency contracts that have not reached their settlement date are included in the respective receivables or payables for closed forward currency contracts in the fund’s statement of assets and liabilities. Net realized gains or losses from closed forward currency contracts and net unrealized appreciation or depreciation from open forward currency contracts are recorded in the fund’s statement of operations. The average month-end notional amount of open forward currency contracts while held was $631,624,000.

 

Swap contracts — The fund has entered into swap agreements, which are two-party contracts entered into primarily by institutional investors for a specified time period. In a typical swap transaction, two parties agree to exchange the returns earned or realized from one or more underlying assets or rates of return. Swap agreements can be traded on a swap execution facility (SEF) and cleared through a central clearinghouse (cleared), traded over-the-counter (OTC) and cleared, or traded bilaterally and not cleared. Because clearing interposes a central clearinghouse as the ultimate counterparty to each participant’s swap, and margin is required to be exchanged under the rules of the clearinghouse, central clearing is intended to decrease (but not eliminate) counterparty risk relative to uncleared bilateral swaps. To the extent the fund enters into bilaterally negotiated swap transactions, the fund will enter into swap agreements only with counterparties that meet certain credit standards and subject to agreed collateralized procedures. The term of a swap can be days, months or years and certain swaps may be less liquid than others.

 

Upon entering into a centrally cleared swap contract, the fund is required to deposit cash, U.S. government securities or other liquid securities, which is known as initial margin. Generally, the initial margin required for a particular swap is set and held as collateral by the clearinghouse on which the contract is cleared. The amount of initial margin required may be significantly modified from time to time by the clearinghouse during the term of the contract.

 

On a daily basis, interest accruals related to the exchange of future payments are recorded as a receivable and payable in the fund’s statement of assets and liabilities for centrally cleared swaps and as unrealized appreciation or depreciation in the fund’s statement of assets and liabilities for bilateral swaps. For centrally cleared swaps, the fund also pays or receives a variation margin based on the increase or decrease in the value of the swaps, including accrued interest as applicable, and records variation margin in the statement of assets and liabilities. The fund records realized gains and losses on both the net accrued interest and any gain or loss recognized at the time the swap is closed or expires. Net realized gains or losses, as well as any net unrealized appreciation or depreciation, from swaps are recorded in the fund’s statement of operations.

 

Swap agreements can take different forms. The fund has entered into the following types of swap agreements:

 

Interest rate swaps — The fund has entered into interest rate swaps, which seek to manage the interest rate sensitivity of the fund by increasing or decreasing the duration of the fund or a portion of the fund’s portfolio. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in an interest rate or rates. Typically, one interest rate is fixed and the other is variable based on a designated short-term interest rate such as the Secured Overnight Financing Rate (SOFR), prime rate or other benchmark, or on an inflation index such as the U.S. Consumer Price Index (which is a measure that examines the weighted average of prices of a basket of consumer goods and services and measures changes in the purchasing power of the U.S. dollar and the rate of inflation). In other types of interest rate swaps, known as basis swaps, the parties agree to swap variable interest rates based on different designated short-term interest rates. Interest rate swaps generally do not involve the delivery of securities or other principal amounts. Rather, cash payments are exchanged by the parties based on the application of the designated interest rates to a notional amount, which is the predetermined dollar principal of the trade upon which payment obligations are computed. Accordingly, the fund’s current obligation or right under the swap agreement is generally equal to the net amount to be paid or received under the swap agreement based on the relative value of the position held by each party. The average month-end notional amount of interest rate swaps while held was $3,491,884,000.

 

Credit default swap indices — The fund has entered into centrally cleared credit default swap indices, including CDX and iTraxx indices (collectively referred to as “CDSI”), in order to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks. A CDSI is based on a portfolio of credit default swaps with similar characteristics, such as credit default swaps on high-yield bonds. In a typical CDSI transaction, one party (the protection buyer) is obligated to pay the other party (the protection seller) a stream of periodic payments over the term of the contract. If a credit event, such as a default or restructuring, occurs with respect to any of the underlying reference obligations, the protection seller must pay the protection buyer the loss on those credits.

 

The fund may enter into a CDSI transaction as either protection buyer or protection seller. If the fund is a protection buyer, it would pay the counterparty a periodic stream of payments over the term of the contract and would not recover any of those payments if no credit events were to occur with respect to any of the underlying reference obligations. However, if a credit event did occur, the fund,

 

The Bond Fund of America 81
 

as a protection buyer, would have the right to deliver the referenced debt obligations or a specified amount of cash, depending on the terms of the applicable agreement, and to receive the par value of such debt obligations from the counterparty protection seller. As a protection seller, the fund would receive fixed payments throughout the term of the contract if no credit events were to occur with respect to any of the underlying reference obligations. If a credit event were to occur, however, the value of any deliverable obligation received by the fund, coupled with the periodic payments previously received by the fund, may be less than the full notional value that the fund, as a protection seller, pays to the counterparty protection buyer, effectively resulting in a loss of value to the fund. Furthermore, as a protection seller, the fund would effectively add leverage to its portfolio because it would have investment exposure to the notional amount of the swap transaction. The average month-end notional amount of credit default swaps while held was $804,631,000.

 

The following tables identify the location and fair value amounts on the fund’s statement of assets and liabilities and the effect on the fund’s statement of operations resulting from the fund’s use of futures contracts, forward currency contracts, interest rate swaps and credit default swaps as of, or for the six months ended, June 30, 2023 (dollars in thousands):

 

      Assets   Liabilities 
Contracts  Risk type  Location on statement of
assets and liabilities
  Value   Location on statement of
assets and liabilities
  Value 
Futures  Interest  Unrealized appreciation*  $94,903   Unrealized depreciation*  $319,028 
Forward currency  Currency  Unrealized appreciation on open forward currency contracts   12,208   Unrealized depreciation on open forward currency contracts   14,918 
Swap (centrally cleared)  Interest  Unrealized appreciation*   1,262   Unrealized depreciation*   32,675 
Swap (centrally cleared)  Credit  Unrealized appreciation*   2,462   Unrealized depreciation*   352 
         $110,835      $366,973 
                  
      Net realized (loss) gain   Net unrealized (depreciation) appreciation 
Contracts  Risk type  Location on statement of operations  Value   Location on statement of operations  Value 
Futures  Interest  Net realized loss on futures contracts  $(538,645)  Net unrealized depreciation on futures contracts  $(173,557)
Forward currency  Currency  Net realized gain on forward currency contracts   14,463   Net unrealized depreciation on forward currency contracts   (27,463)
Swap  Interest  Net realized gain on swap contracts   201,562   Net unrealized depreciation on swap contracts   (207,347)
Swap  Credit  Net realized loss on swap contracts   (39,418)  Net unrealized appreciation on swap contracts   11,496 
         $(362,038)     $(396,871)
   
* Includes cumulative appreciation/depreciation on futures contracts, centrally cleared interest rate swaps and centrally cleared credit default swaps as reported in the applicable tables following the fund’s investment portfolio. Only current day’s variation margin is reported within the fund’s statement of assets and liabilities.

 

Collateral — The fund receives or pledges highly liquid assets, such as cash or U.S. government securities, as collateral due to its use of futures contracts, forward currency contracts, interest rate swaps, credit default swaps and future delivery contracts. For futures contracts, centrally cleared interest rate swaps and centrally cleared credit default swaps, the fund pledges collateral for initial and variation margin by contract. For forward currency contracts, the fund either receives or pledges collateral based on the net gain or loss on unsettled contracts by counterparty. For future delivery contracts, the fund either receives or pledges collateral based on the net gain or loss on unsettled contracts by certain counterparties. The purpose of the collateral is to cover potential losses that could occur in the event that either party cannot meet its contractual obligation. Non-cash collateral pledged by the fund, if any, is disclosed in the fund’s investment portfolio, and cash collateral pledged by the fund, if any, is held in a segregated account with the fund’s custodian, which is reflected as pledged cash collateral in the fund’s statement of assets and liabilities.

 

82 The Bond Fund of America
 

Rights of offset — The fund has entered into enforceable master netting agreements with certain counterparties for forward currency contracts, where on any date amounts payable by each party to the other (in the same currency with respect to the same transaction) may be closed or offset by each party’s payment obligation. If an early termination date occurs under these agreements following an event of default or termination event, all obligations of each party to its counterparty are settled net through a single payment in a single currency (“close-out netting”). For financial reporting purposes, the fund does not offset financial assets and financial liabilities that are subject to these master netting arrangements in the statement of assets and liabilities.

 

The following table presents the fund’s forward currency contracts by counterparty that are subject to master netting agreements but that are not offset in the fund’s statement of assets and liabilities. The net amount column shows the impact of offsetting on the fund’s statement of assets and liabilities as of June 30, 2023, if close-out netting was exercised (dollars in thousands):

 

   Gross amounts
recognized in the
   Gross amounts not offset in the
statement of assets and liabilities and
subject to a master netting agreement
     
Counterparty  statement of assets
and liabilities
   Available
to offset
   Non-cash
collateral*
   Cash
collateral*
   Net
amount
 
Assets:                           
Bank of America    444   $(444)  $   $    
Bank of New York Mellon     1,071        (1,071)        
BNP Paribas     823    (135)           688 
Citibank     543    (543)            
HSBC Bank     393    (393)            
JPMorgan Chase     8,506    (11)           8,495 
Morgan Stanley     10    (10)            
Standard Chartered Bank     418                418 
Total    $12,208   $(1,536)  $(1,071)  $   $9,601 
Liabilities:                           
Bank of America    $486   $(444)  $(9)  $   $33 
BNP Paribas     135    (135)            
Citibank     2,636    (543)   (1,074)       1,019 
HSBC Bank     11,582    (393)   (11,189)        
JPMorgan Chase     11    (11)            
Morgan Stanley     68    (10)   (32)       26 
Total    $14,918   $(1,536)  $(12,304)  $   $1,078 

 

* Collateral is shown on a settlement basis.

 

6. Taxation and distributions

 

Federal income taxation — The fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to regulated investment companies and intends to distribute substantially all of its net taxable income and net capital gains each year. The fund is not subject to income taxes to the extent such distributions are made. Therefore, no federal income tax provision is required.

 

As of and during the period ended June 30, 2023, the fund did not have a liability for any unrecognized tax benefits. The fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the statement of operations. During the period, the fund did not incur any significant interest or penalties.

 

The fund’s tax returns are generally not subject to examination by federal, state and, if applicable, non-U.S. tax authorities after the expiration of each jurisdiction’s statute of limitations, which is typically three years after the date of filing but can be extended in certain jurisdictions.

 

Non-U.S. taxation — Dividend and interest income are recorded net of non-U.S. taxes paid. The fund may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. Gains realized by the fund on the sale of securities in certain countries, if any, may be subject to non-U.S. taxes. The fund generally records an estimated deferred tax liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.

 

The Bond Fund of America 83
 

Distributions — Distributions determined on a tax basis may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as currency gains and losses; short-term capital gains and losses; cost of investments sold; net capital losses and income on certain investments. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the fund for financial reporting purposes.

 

The components of distributable earnings on a tax basis are reported as of the fund’s most recent year-end. As of December 31, 2022, the components of distributable earnings on a tax basis were as follows (dollars in thousands):

 

Undistributed ordinary income  $173,846 
Late year ordinary loss deferral1   (7,242)
Capital loss carryforward2   (5,473,938)
   
1 This deferral is considered incurred in the subsequent year.
2 The capital loss carryforward will be used to offset any capital gains realized by the fund in the current year or in subsequent years. Utilization of capital losses may be limited in current and future years due to IRC Section 382. The fund will not make distributions from capital gains while a capital loss carryforward remains.

 

As of June 30, 2023, the tax basis unrealized appreciation (depreciation) and cost of investments were as follows (dollars in thousands):

 

Gross unrealized appreciation on investments  $251,691 
Gross unrealized depreciation on investments   (4,680,267)
Net unrealized depreciation on investments   (4,428,576)
Cost of investments   86,479,054 

 

Distributions paid or accrued were characterized for tax purposes as follows (dollars in thousands):

 

   Six months ended June 30, 2023   Year ended December 31, 2022 
Share class  Ordinary
income3
   Long-term
capital gains
   Total
distributions
paid or
accrued
   Ordinary
income
   Long-term
capital gains
   Total
distributions
paid or
accrued
 
Class A  $404,964   $   $404,964   $672,348   $32,609   $704,957 
Class C   6,074        6,074    10,275    705    10,980 
Class T   4        4    4    4    4 
Class F-1   13,339        13,339    21,766    1,065    22,831 
Class F-2   391,900        391,900    543,800    23,306    567,106 
Class F-3   156,499        156,499    217,380    8,833    226,213 
Class 529-A   19,061        19,061    32,109    1,605    33,714 
Class 529-C   546        546    951    69    1,020 
Class 529-E   523        523    906    49    955 
Class 529-T   4        4    4    4    4 
Class 529-F-1   4        4    4    4    4 
Class 529-F-2   2,745        2,745    4,426    198    4,624 
Class 529-F-3   4        4    4    4    4 
Class R-1   487        487    701    47    748 
Class R-2   4,151        4,151    6,235    428    6,663 
Class R-2E   517        517    795    47    842 
Class R-3   7,914        7,914    12,926    711    13,637 
Class R-4   8,222        8,222    13,148    632    13,780 
Class R-5E   2,933        2,933    4,159    188    4,347 
Class R-5   5,180        5,180    8,984    395    9,379 
Class R-6   289,093        289,093    431,640    18,096    449,736 
Total  $1,314,148   $   $1,314,148   $1,982,549   $88,983   $2,071,532 
   
3 All or a portion of these amounts may later be determined as return of capital; the determination will be made at December 31, 2023.
4 Amount less than one thousand.
   
84 The Bond Fund of America
 

7. Fees and transactions with related parties

 

CRMC, the fund’s investment adviser, is the parent company of American Funds Distributors®, Inc. (“AFD”), the principal underwriter of the fund’s shares, and American Funds Service Company® (“AFS”), the fund’s transfer agent. CRMC, AFD and AFS are considered related parties to the fund.

 

Investment advisory services — The fund has an investment advisory and service agreement with CRMC that provides for monthly fees accrued daily. These fees are based on a series of decreasing annual rates beginning with 0.300% on the first $60 million of daily net assets and decreasing to 0.105% on such assets in excess of $76 billion. The agreement also provides for monthly fees, accrued daily, based on a series of decreasing rates beginning with 2.25% on the first $8,333,333 of the fund’s monthly gross income and decreasing to 1.75% on such income in excess of $41,666,667. For the six months ended June 30, 2023, the investment advisory services fees were $72,294,000, which were equivalent to an annualized rate of 0.194% of average daily net assets.

 

Class-specific fees and expenses — Expenses that are specific to individual share classes are accrued directly to the respective share class. The principal class-specific fees and expenses are further described below:

 

Distribution services — The fund has plans of distribution for all share classes, except Class F-2, F-3, 529-F-2, 529-F-3, R-5E, R-5 and R-6 shares. Under the plans, the board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares and service existing accounts. The plans provide for payments, based on an annualized percentage of average daily net assets, ranging from 0.25% to 1.00% as noted in this section. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans. All share classes with a plan may use up to 0.25% of average daily net assets to pay service fees, or to compensate AFD for paying service fees, to firms that have entered into agreements with AFD to provide certain shareholder services. The remaining amounts available to be paid under each plan are paid to dealers to compensate them for their sales activities.

 

Share class  Currently approved limits  Plan limits  
Class A   0.25%   0.25%  
Class 529-A   0.25    0.50   
Classes C, 529-C and R-1   1.00    1.00   
Class R-2   0.75    1.00   
Class R-2E   0.60    0.85   
Classes 529-E and R-3   0.50    0.75   
Classes T, F-1, 529-T, 529-F-1 and R-4   0.25    0.50   

 

For Class A and 529-A shares, distribution-related expenses include the reimbursement of dealer and wholesaler commissions paid by AFD for certain shares sold without a sales charge. These share classes reimburse AFD for amounts billed within the prior 15 months but only to the extent that the overall annual expense limits are not exceeded. As of June 30, 2023, unreimbursed expenses subject to reimbursement totaled $5,637,000 for Class A shares. There were no unreimbursed expenses subject to reimbursement for Class 529-A shares.

 

Transfer agent services — The fund has a shareholder services agreement with AFS under which the fund compensates AFS for providing transfer agent services to each of the fund’s share classes. These services include recordkeeping, shareholder communications and transaction processing. In addition, the fund reimburses AFS for amounts paid to third parties for performing transfer agent services on behalf of fund shareholders.

 

Administrative services — The fund has an administrative services agreement with CRMC under which the fund compensates CRMC for providing administrative services to all share classes. Administrative services are provided by CRMC and its affiliates to help assist third parties providing non-distribution services to fund shareholders. These services include providing in-depth information on the fund and market developments that impact fund investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to fund shareholders. The agreement provides the fund the ability to charge an administrative services fee at the annual rate of 0.05% of the average daily net assets attributable to each share class of the fund. Currently the fund pays CRMC an administrative services fee at the annual rate of 0.03% of the average daily net assets attributable to each share class of the fund for CRMC’s provision of administrative services.

 

529 plan services — Each 529 share class is subject to service fees to compensate the Virginia College Savings Plan (“Virginia529”) for its oversight and administration of the CollegeAmerica 529 college savings plan. The fees are based on the combined net assets invested in Class 529 and ABLE shares of the American Funds. Class ABLE shares are offered on other American Funds by

 

The Bond Fund of America 85
 

Virginia529 through ABLEAmerica®, a tax-advantaged savings program for individuals with disabilities. Virginia529 is not considered a related party to the fund.

 

The quarterly fees are based on a series of decreasing annual rates beginning with 0.09% on the first $20 billion of the combined net assets invested in the American Funds and decreasing to 0.03% on such assets in excess of $75 billion. The fees for any given calendar quarter are accrued and calculated on the basis of the average net assets of Class 529 and ABLE shares of the American Funds for the last month of the prior calendar quarter. For the six months ended June 30, 2023, the 529 plan services fees were $418,000, which were equivalent to 0.060% of the average daily net assets of each 529 share class.

 

For the six months ended June 30, 2023, class-specific expenses under the agreements were as follows (dollars in thousands):

 

Share class  Distribution
services
   Transfer agent
services
   Administrative
services
   529 plan
services
 
Class A   $30,474    $15,675    $3,657   Not applicable  
Class C   2,333    303    71   Not applicable  
Class T       *   *  Not applicable  
Class F-1   985    639    121   Not applicable  
Class F-2   Not applicable    11,600    3,259   Not applicable  
Class F-3   Not applicable    50    1,266   Not applicable  
Class 529-A   1,351    703    174   $349  
Class 529-C   217    27    6   13  
Class 529-E   85    8    5   10  
Class 529-T       *   *  *
Class 529-F-1       *   *  *
Class 529-F-2   Not applicable    7    23   46  
Class 529-F-3   Not applicable    *   *  *
Class R-1   186    18    6   Not applicable  
Class R-2   1,193    541    48   Not applicable  
Class R-2E   107    36    5   Not applicable  
Class R-3   1,296    383    78   Not applicable  
Class R-4   612    237    73   Not applicable  
Class R-5E   Not applicable    120    25   Not applicable  
Class R-5   Not applicable    73    43   Not applicable  
Class R-6   Not applicable    93    2,339   Not applicable  
Total class-specific expenses   $38,839    $30,513    $11,199   $418  
   
* Amount less than one thousand.

 

Trustees’ deferred compensation — Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the fund, are treated as if invested in shares of the fund or other American Funds. These amounts represent general, unsecured liabilities of the fund and vary according to the total returns of the selected funds. Trustees’ compensation of $98,000 in the fund’s statement of operations reflects $84,000 in current fees (either paid in cash or deferred) and a net increase of $14,000 in the value of the deferred amounts.

 

Affiliated officers and trustees — Officers and certain trustees of the fund are or may be considered to be affiliated with CRMC, AFD and AFS. No affiliated officers or trustees received any compensation directly from the fund.

 

Investment in CCF — The fund holds shares of CCF, an institutional prime money market fund managed by CRMC. CCF invests in high-quality, short-term money market instruments. CCF is used as the primary investment vehicle for the fund’s short-term instruments. CCF shares are only available for purchase by CRMC, its affiliates, and other funds managed by CRMC or its affiliates, and are not available to the public. CRMC does not receive an investment advisory services fee from CCF.

 

Security transactions with related funds — The fund may purchase investment securities from, or sell investment securities to, other funds managed by CRMC (or funds managed by certain affiliates of CRMC) under procedures adopted by the fund’s board of trustees. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. When such transactions occur, each transaction is executed at the current market price of the security and no brokerage commissions or fees are paid in accordance with Rule 17a-7 of the 1940 Act. During the six months ended June 30, 2023, the fund did not engage in any such purchase or sale transactions with any related funds.

 

86 The Bond Fund of America
 

Interfund lending — Pursuant to an exemptive order issued by the SEC, the fund, along with other CRMC-managed funds (or funds managed by certain affiliates of CRMC), may participate in an interfund lending program. The program provides an alternate credit facility that permits the funds to lend or borrow cash for temporary purposes directly to or from one another, subject to the conditions of the exemptive order. The fund did not lend or borrow cash through the interfund lending program at any time during the six months ended June 30, 2023.

 

8. Indemnifications

 

The fund’s organizational documents provide board members and officers with indemnification against certain liabilities or expenses in connection with the performance of their duties to the fund. In the normal course of business, the fund may also enter into contracts that provide general indemnifications. The fund’s maximum exposure under these arrangements is unknown since it is dependent on future claims that may be made against the fund. The risk of material loss from such claims is considered remote. Insurance policies are also available to the fund’s board members and officers.

 

9. Capital share transactions

 

Capital share transactions in the fund were as follows (dollars and shares in thousands):

 

   Sales*   Issued in connection with
the merger of
Capital Group
Core Bond Fund
  Reinvestments of
distributions
   Repurchases*   Net increase
(decrease)
 
Share class   Amount   Shares   Amount  Shares  Amount   Shares   Amount   Shares   Amount   Shares 
                               
Six months ended June 30, 2023                              
                               
Class A  $1,824,320    158,190         $399,985    34,738   $(1,724,493)   (149,642)  $499,812    43,286 
Class C   43,637    3,783          5,981    519    (80,593)   (6,985)   (30,975)   (2,683)
Class T                                      
Class F-1   100,025    8,668          12,953    1,125    (85,991)   (7,473)   26,987    2,320 
Class F-2   5,802,117    503,549          380,748    33,076    (2,851,574)   (248,058)   3,331,291    288,567 
Class F-3   1,842,679    159,562          155,281    13,489    (1,071,258)   (93,053)   926,702    79,998 
Class 529-A   98,598    8,556          19,001    1,650    (97,153)   (8,421)   20,446    1,785 
Class 529-C   7,279    631          543    47    (9,677)   (839)   (1,855)   (161)
Class 529-E   2,552    222          519    45    (4,187)   (363)   (1,116)   (96)
Class 529-T                                      
Class 529-F-1                                      
Class 529-F-2   21,084    1,832          2,736    237    (12,595)   (1,091)   11,225    978 
Class 529-F-3                                      
Class R-1   4,032    351          486    42    (2,551)   (222)   1,967    171 
Class R-2   37,316    3,239          4,122    358    (41,439)   (3,593)   (1)   4 
Class R-2E   5,807    505          516    45    (3,833)   (333)   2,490    217 
Class R-3   67,712    5,871          7,849    682    (73,795)   (6,401)   1,766    152 
Class R-4   78,522    6,806          8,133    706    (69,771)   (6,057)   16,884    1,455 
Class R-5E   32,761    2,834          2,927    255    (16,756)   (1,460)   18,932    1,629 
Class R-5   25,562    2,221          5,157    448    (27,013)   (2,343)   3,706    326 
Class R-6   1,935,777    167,826          287,818    25,000    (2,093,969)   (183,177)   129,626    9,649 
Total net increase (decrease)  $11,929,780    1,034,646         $1,294,755    112,462   $(8,266,648)   (719,511)  $4,957,887    427,597 

 

Refer to the end of the table for footnotes.

 

The Bond Fund of America 87
 

   Sales*   Issued in connection with
the merger of
Capital Group
Core Bond Fund
   Reinvestments of
distributions
   Repurchases*   Net increase
(decrease)
 
Share class  Amount   Shares   Amount   Shares   Amount   Shares   Amount   Shares   Amount   Shares 
                                           
Year ended December 31, 2022                                   
                                           
Class A  $2,802,059    232,234   $       $697,441    58,445   $(5,156,600)   (430,054)   $(1,657,100)    (139,375) 
Class C   82,137    6,785            10,896    913    (223,685)   (18,505)   (130,652)   (10,807)
Class T                                        
Class F-1   216,444    18,247            22,239    1,864    (307,581)   (25,703)   (68,898)   (5,592)
Class F-2   10,281,657    859,458            553,366    46,464    (8,286,236)   (689,855)   2,548,787    216,067 
Class F-3   3,206,936    266,296    482,759    41,769    224,558    18,863    (2,734,209)   (228,377)   1,180,044    98,551 
Class 529-A   141,506    11,670            33,719    2,824    (277,394)   (22,939)   (102,169)   (8,445)
Class 529-C   11,658    963            1,020    86    (28,197)   (2,329)   (15,519)   (1,280)
Class 529-E   4,040    332            952    80    (10,044)   (832)   (5,052)   (420)
Class 529-T                                        
Class 529-F-1                                        
Class 529-F-2   29,657    2,451            4,607    386    (37,653)   (3,121)   (3,389)   (284)
Class 529-F-3                                        
Class R-1   9,092    751            747    63    (8,541)   (710)   1,298    104 
Class R-2   68,487    5,664            6,621    557    (107,121)   (8,786)   (32,013)   (2,565)
Class R-2E   10,645    871            837    70    (15,116)   (1,235)   (3,634)   (294)
Class R-3   111,908    9,205            13,530    1,135    (183,591)   (15,098)   (58,153)   (4,758)
Class R-4   121,051    9,950            13,746    1,152    (160,515)   (13,225)   (25,718)   (2,123)
Class R-5E   41,924    3,473            4,337    364    (31,125)   (2,577)   15,136    1,260 
Class R-5   64,785    5,386            9,381    786    (110,546)   (9,151)   (36,380)   (2,979)
Class R-6   3,963,031    325,394            448,352    37,633    (2,286,589)   (190,475)   2,124,794    172,552 
Total net increase (decrease)  $21,167,017    1,759,130   $482,759    41,769   $2,046,349    171,685   $(19,964,743)   (1,662,972)  $3,731,382    309,612 

 

* Includes exchanges between share classes of the fund.
Amount less than one thousand.

 

10. Investment transactions

 

The fund engaged in purchases and sales of investment securities, excluding short-term securities and U.S. government obligations, if any, of $159,164,640,000 and $153,384,558,000, respectively, during the six months ended June 30, 2023.

 

88 The Bond Fund of America
 

Financial highlights

 

       Income (loss) from
investment operations1 
   Dividends and distributions                         
Year ended  Net asset
value,
beginning
of year
   Net
investment
income
   Net (losses)
gains on
securities
(both
realized and
unrealized)
   Total from
investment
operations
   Dividends
(from net
investment
income)
   Distributions
(from capital
gains)
   Total
dividends
and
distributions
   Net asset
value,
end
of year
   Total return2,3    Net assets,
end of
year
(in millions)
   Ratio of
expenses to
average net
assets before
waivers/
reimburse-
ments4 
   Ratio of
expenses to
average net
assets after
waivers/
reimburse-
ments3,4 
   Ratio of
net income
to average
net assets3 
 
Class A:                                                                 
6/30/20235,6  $11.38   $.19   $(.04)  $.15   $(.19)  $   $(.19)  $11.34    1.30%7   $24,491    .61%8    .61%8    3.39%8 
12/31/2022   13.39    .31    (1.99)   (1.68)   (.31)   (.02)   (.33)   11.38    (12.68)   24,087    .58    .58    2.54 
12/31/2021   13.79    .18    (.31)   (.13)   (.19)   (.08)   (.27)   13.39    (.95)   30,201    .55    .55    1.36 
12/31/2020   13.09    .22    1.18    1.40    (.26)   (.44)   (.70)   13.79    10.71    29,570    .57    .57    1.59 
12/31/2019   12.57    .31    .69    1.00    (.30)   (.18)   (.48)   13.09    8.02    23,197    .60    .60    2.35 
12/31/2018   12.89    .30    (.32)   (.02)   (.30)       (.30)   12.57    (.13)   19,352    .60    .60    2.37 
Class C:                                                                 
6/30/20235,6   11.38    .15    (.04)   .11    (.15)       (.15)   11.34    .937    454    1.358    1.358    2.648 
12/31/2022   13.39    .22    (1.99)   (1.77)   (.22)   (.02)   (.24)   11.38    (13.33)   487    1.33    1.33    1.78 
12/31/2021   13.79    .08    (.31)   (.23)   (.09)   (.08)   (.17)   13.39    (1.68)   717    1.29    1.29    .60 
12/31/2020   13.09    .11    1.18    1.29    (.15)   (.44)   (.59)   13.79    9.90    848    1.31    1.31    .87 
12/31/2019   12.57    .21    .69    .90    (.20)   (.18)   (.38)   13.09    7.20    786    1.36    1.36    1.60 
12/31/2018   12.89    .20    (.32)   (.12)   (.20)       (.20)   12.57    (.91)   825    1.39    1.39    1.58 
Class T:                                                                 
6/30/20235,6   11.38    .21    (.04)   .17    (.21)       (.21)   11.34    1.477,9    10    .258,9    .258,9    3.758,9 
12/31/2022   13.39    .34    (1.99)   (1.65)   (.34)   (.02)   (.36)   11.38    (12.47)9    10    .339    .339    2.789 
12/31/2021   13.79    .21    (.31)   (.10)   (.22)   (.08)   (.30)   13.39    (.74)9    10    .339    .339    1.559 
12/31/2020   13.09    .25    1.18    1.43    (.29)   (.44)   (.73)   13.79    10.989    10    .349    .349    1.819 
12/31/2019   12.57    .34    .69    1.03    (.33)   (.18)   (.51)   13.09    8.249    10    .379    .379    2.569 
12/31/2018   12.89    .33    (.32)   .01    (.33)       (.33)   12.57    .099    10    .399    .399    2.589 
Class F-1:                                                                 
6/30/20235,6   11.38    .19    (.04)   .15    (.19)       (.19)   11.34    1.297    819    .638    .638    3.378 
12/31/2022   13.39    .30    (1.99)   (1.69)   (.30)   (.02)   (.32)   11.38    (12.71)   796    .61    .61    2.51 
12/31/2021   13.79    .18    (.31)   (.13)   (.19)   (.08)   (.27)   13.39    (.99)   1,011    .59    .59    1.30 
12/31/2020   13.09    .21    1.18    1.39    (.25)   (.44)   (.69)   13.79    10.68    1,315    .60    .60    1.55 
12/31/2019   12.57    .31    .69    1.00    (.30)   (.18)   (.48)   13.09    7.97    977    .64    .64    2.31 
12/31/2018   12.89    .29    (.32)   (.03)   (.29)       (.29)   12.57    (.18)   745    .66    .66    2.32 
Class F-2:                                                                 
6/30/20235,6   11.38    .21    (.04)   .17    (.21)       (.21)   11.34    1.447    23,181    .348    .348    3.688 
12/31/2022   13.39    .34    (1.99)   (1.65)   (.34)   (.02)   (.36)   11.38    (12.46)   19,982    .33    .33    2.81 
12/31/2021   13.79    .22    (.31)   (.09)   (.23)   (.08)   (.31)   13.39    (.71)   20,613    .31    .31    1.60 
12/31/2020   13.09    .25    1.18    1.43    (.29)   (.44)   (.73)   13.79    10.99    16,494    .32    .32    1.81 
12/31/2019   12.57    .35    .69    1.04    (.34)   (.18)   (.52)   13.09    8.28    9,415    .35    .35    2.59 
12/31/2018   12.89    .33    (.32)   .01    (.33)       (.33)   12.57    .14    5,728    .34    .34    2.65 
Class F-3:                                                                 
6/30/20235,6   11.38    .21    (.04)   .17    (.21)       (.21)   11.34    1.497    8,745    .238    .238    3.788 
12/31/2022   13.39    .35    (1.99)   (1.64)   (.35)   (.02)   (.37)   11.38    (12.36)   7,866    .22    .22    2.92 
12/31/2021   13.79    .23    (.31)   (.08)   (.24)   (.08)   (.32)   13.39    (.60)   7,934    .20    .20    1.72 
12/31/2020   13.09    .27    1.18    1.45    (.31)   (.44)   (.75)   13.79    11.10    4,465    .21    .21    1.90 
12/31/2019   12.57    .36    .69    1.05    (.35)   (.18)   (.53)   13.09    8.40    2,212    .25    .24    2.70 
12/31/2018   12.89    .34    (.32)   .02    (.34)       (.34)   12.57    .21    1,483    .27    .27    2.70 
Class 529-A:                                                                 
6/30/20235,6   11.38    .19    (.04)   .15    (.19)       (.19)   11.34    1.287    1,172    .658    .658    3.368 
12/31/2022   13.39    .30    (1.99)   (1.69)   (.30)   (.02)   (.32)   11.38    (12.71)   1,156    .62    .62    2.51 
12/31/2021   13.79    .18    (.31)   (.13)   (.19)   (.08)   (.27)   13.39    (.99)   1,473    .59    .59    1.31 
12/31/2020   13.09    .21    1.18    1.39    (.25)   (.44)   (.69)   13.79    10.67    1,526    .61    .61    1.54 
12/31/2019   12.57    .30    .69    .99    (.29)   (.18)   (.47)   13.09    7.95    1,174    .66    .66    2.29 
12/31/2018   12.89    .29    (.32)   (.03)   (.29)       (.29)   12.57    (.21)   1,003    .69    .69    2.29 

 

Refer to the end of the table for footnotes.

 

The Bond Fund of America 89
 

Financial highlights (continued)

 

       Income (loss) from
investment operations1 
   Dividends and distributions                         
Year ended  Net asset
value,
beginning
of year
   Net
investment
income
   Net (losses)
gains on
securities
(both
realized and
unrealized)
   Total from
investment
operations
   Dividends
(from net
investment
income)
   Distributions
(from capital
gains)
   Total
dividends
and
distributions
   Net asset
value,
end
of year
   Total return2,3    Net assets,
end of
year
(in millions)
   Ratio of
expenses to
average net
assets before
waivers/
reimburse-
ments4 
   Ratio of
expenses to
average net
assets after
waivers/
reimburse-
ments3,4 
   Ratio of
net income
to average
net assets3 
 
Class 529-C:                                                                 
6/30/20235,6  $11.38   $.14   $(.04)  $.10   $(.14)  $   $(.14)  $11.34    .90%7   $43    1.41%8    1.41%8    2.58%8 
12/31/2022   13.39    .21    (1.99)   (1.78)   (.21)   (.02)   (.23)   11.38    (13.38)   45    1.38    1.38    1.72 
12/31/2021   13.79    .08    (.31)   (.23)   (.09)   (.08)   (.17)   13.39    (1.73)   70    1.34    1.34    .56 
12/31/2020   13.09    .11    1.18    1.29    (.15)   (.44)   (.59)   13.79    9.85    89    1.36    1.36    .90 
12/31/2019   12.57    .21    .69    .90    (.20)   (.18)   (.38)   13.09    7.16    180    1.40    1.40    1.56 
12/31/2018   12.89    .20    (.32)   (.12)   (.20)       (.20)   12.57    (.94)   191    1.43    1.43    1.55 
Class 529-E:                                                                 
6/30/20235,6   11.38    .18    (.04)   .14    (.18)       (.18)   11.34    1.197    33    .848    .848    3.168 
12/31/2022   13.39    .28    (1.99)   (1.71)   (.28)   (.02)   (.30)   11.38    (12.88)   34    .81    .81    2.30 
12/31/2021   13.79    .15    (.31)   (.16)   (.16)   (.08)   (.24)   13.39    (1.19)   46    .79    .79    1.11 
12/31/2020   13.09    .18    1.18    1.36    (.22)   (.44)   (.66)   13.79    10.46    53    .80    .80    1.37 
12/31/2019   12.57    .28    .69    .97    (.27)   (.18)   (.45)   13.09    7.75    46    .85    .85    2.11 
12/31/2018   12.89    .27    (.32)   (.05)   (.27)       (.27)   12.57    (.40)   43    .88    .88    2.10 
Class 529-T:                                                                 
6/30/20235,6   11.38    .21    (.04)   .17    (.21)       (.21)   11.34    1.457,9    10    .328,9    .328,9    3.688,9 
12/31/2022   13.39    .33    (1.99)   (1.66)   (.33)   (.02)   (.35)   11.38    (12.51)9    10    .389    .389    2.749 
12/31/2021   13.79    .21    (.31)   (.10)   (.22)   (.08)   (.30)   13.39    (.78)9    10    .379    .379    1.529 
12/31/2020   13.09    .24    1.18    1.42    (.28)   (.44)   (.72)   13.79    10.919    10    .399    .399    1.779 
12/31/2019   12.57    .33    .69    1.02    (.32)   (.18)   (.50)   13.09    8.209    10    .429    .429    2.519 
12/31/2018   12.89    .32    (.32)   11    (.32)       (.32)   12.57    .049    10    .449    .449    2.549 
Class 529-F-1:                                                                 
6/30/20235,6   11.38    .20    (.04)   .16    (.20)       (.20)   11.34    1.387,9    10    .448,9    .448,9    3.568,9 
12/31/2022   13.39    .33    (1.99)   (1.66)   (.33)   (.02)   (.35)   11.38    (12.53)9    10    .409    .409    2.719 
12/31/2021   13.79    .20    (.31)   (.11)   (.21)   (.08)   (.29)   13.39    (.82)9    10    .419    .419    1.489 
12/31/2020   13.09    .24    1.18    1.42    (.28)   (.44)   (.72)   13.79    10.929    10    .389    .389    1.879 
12/31/2019   12.57    .34    .69    1.03    (.33)   (.18)   (.51)   13.09    8.20    128    .42    .42    2.53 
12/31/2018   12.89    .32    (.32)   11    (.32)       (.32)   12.57    .03    102    .44    .44    2.54 
Class 529-F-2:                                                                 
6/30/20235,6   11.38    .21    (.04)   .17    (.21)       (.21)   11.34    1.467    157    .308    .308    3.718 
12/31/2022   13.39    .34    (1.99)   (1.65)   (.34)   (.02)   (.36)   11.38    (12.45)   147    .32    .32    2.81 
12/31/2021   13.79    .21    (.31)   (.10)   (.22)   (.08)   (.30)   13.39    (.73)   177    .33    .33    1.58 
12/31/20205,12   14.00    .03    .24    .27    (.04)   (.44)   (.48)   13.79    1.887    166    .067    .067    .247 
Class 529-F-3:                                                                 
6/30/20235,6   11.38    .21    (.04)   .17    (.21)       (.21)   11.34    1.467    10    .298    .298    3.718 
12/31/2022   13.39    .34    (1.99)   (1.65)   (.34)   (.02)   (.36)   11.38    (12.42)   10    .27    .27    2.85 
12/31/2021   13.79    .22    (.31)   (.09)   (.23)   (.08)   (.31)   13.39    (.69)   10    .27    .27    1.62 
12/31/20205,12   14.00    .04    .23    .27    (.04)   (.44)   (.48)   13.79    1.907    10    .087    .047    .257 
Class R-1:                                                                 
6/30/20235,6   11.38    .15    (.04)   .11    (.15)       (.15)   11.34    .957    38    1.328    1.328    2.688 
12/31/2022   13.39    .22    (1.99)   (1.77)   (.22)   (.02)   (.24)   11.38    (13.31)   37    1.31    1.31    1.83 
12/31/2021   13.79    .08    (.31)   (.23)   (.09)   (.08)   (.17)   13.39    (1.69)   42    1.29    1.29    .62 
12/31/2020   13.09    .11    1.18    1.29    (.15)   (.44)   (.59)   13.79    9.88    39    1.33    1.33    .85 
12/31/2019   12.57    .21    .69    .90    (.20)   (.18)   (.38)   13.09    7.21    39    1.35    1.35    1.61 
12/31/2018   12.89    .20    (.32)   (.12)   (.20)       (.20)   12.57    (.89)   30    1.37    1.37    1.60 

 

Refer to the end of the table for footnotes.

 

90 The Bond Fund of America
 

Financial highlights (continued)

 

       Income (loss) from
investment operations1 
   Dividends and distributions                         
Year ended  Net asset
value,
beginning
of year
   Net
investment
income
   Net (losses)
gains on
securities
(both
realized and
unrealized)
   Total from
investment
operations
   Dividends
(from net
investment
income)
   Distributions
(from capital
gains)
   Total
dividends
and
distributions
   Net asset
value,
end
of year
   Total return2,3   Net assets,
end of
year
(in millions)
   Ratio of
expenses to
average net
assets before
waivers/
reimburse-
ments4 
   Ratio of
expenses to
average net
assets after
waivers/
reimburse-
ments3,4 
   Ratio of
net income
to average
net assets3 
 
Class R-2:                                                                 
6/30/20235,6  $11.38   $.15   $(.04)  $.11   $(.15)  $   $(.15)  $11.34    .95%7   $318    1.32%8    1.32%8    2.68%8 
12/31/2022   13.39    .22    (1.99)   (1.77)   (.22)   (.02)   (.24)   11.38    (13.33)   319    1.33    1.33    1.79 
12/31/2021   13.79    .08    (.31)   (.23)   (.09)   (.08)   (.17)   13.39    (1.69)   409    1.30    1.30    .60 
12/31/2020   13.09    .12    1.18    1.30    (.16)   (.44)   (.60)   13.79    9.91    468    1.30    1.30    .87 
12/31/2019   12.57    .22    .69    .91    (.21)   (.18)   (.39)   13.09    7.22    410    1.34    1.34    1.61 
12/31/2018   12.89    .20    (.32)   (.12)   (.20)       (.20)   12.57    (.88)   400    1.36    1.36    1.61 
Class R-2E:                                                                 
6/30/20235,6   11.38    .17    (.04)   .13    (.17)       (.17)   11.34    1.097    37    1.038    1.038    2.988 
12/31/2022   13.39    .25    (1.99)   (1.74)   (.25)   (.02)   (.27)   11.38    (13.07)   34    1.03    1.03    2.09 
12/31/2021   13.79    .12    (.31)   (.19)   (.13)   (.08)   (.21)   13.39    (1.40)   44    1.00    1.00    .90 
12/31/2020   13.09    .16    1.18    1.34    (.20)   (.44)   (.64)   13.79    10.22    46    1.02    1.02    1.14 
12/31/2019   12.57    .25    .69    .94    (.24)   (.18)   (.42)   13.09    7.53    33    1.05    1.05    1.90 
12/31/2018   12.89    .24    (.32)   (.08)   (.24)       (.24)   12.57    (.59)   26    1.07    1.07    1.92 
Class R-3:                                                                 
6/30/20235,6   11.38    .17    (.04)   .13    (.17)       (.17)   11.34    1.177    518    .888    .888    3.128 
12/31/2022   13.39    .27    (1.99)   (1.72)   (.27)   (.02)   (.29)   11.38    (12.93)   518    .87    .87    2.25 
12/31/2021   13.79    .14    (.31)   (.17)   (.15)   (.08)   (.23)   13.39    (1.25)   673    .85    .85    1.05 
12/31/2020   13.09    .18    1.18    1.36    (.22)   (.44)   (.66)   13.79    10.40    743    .86    .86    1.31 
12/31/2019   12.57    .27    .69    .96    (.26)   (.18)   (.44)   13.09    7.70    633    .89    .89    2.06 
12/31/2018   12.89    .26    (.32)   (.06)   (.26)       (.26)   12.57    (.43)   582    .91    .91    2.06 
Class R-4:                                                                 
6/30/20235,6   11.38    .19    (.04)   .15    (.19)       (.19)   11.34    1.327    491    .588    .588    3.438 
12/31/2022   13.39    .31    (1.99)   (1.68)   (.31)   (.02)   (.33)   11.38    (12.67)   476    .57    .57    2.55 
12/31/2021   13.79    .18    (.31)   (.13)   (.19)   (.08)   (.27)   13.39    (.94)   588    .54    .54    1.35 
12/31/2020   13.09    .22    1.18    1.40    (.26)   (.44)   (.70)   13.79    10.73    688    .55    .55    1.61 
12/31/2019   12.57    .31    .69    1.00    (.30)   (.18)   (.48)   13.09    8.03    567    .59    .59    2.37 
12/31/2018   12.89    .30    (.32)   (.02)   (.30)       (.30)   12.57    (.13)   518    .61    .61    2.37 
Class R-5E:                                                                 
6/30/20235,6   11.38    .20    (.04)   .16    (.20)       (.20)   11.34    1.427    168    .388    .388    3.648 
12/31/2022   13.39    .33    (1.99)   (1.66)   (.33)   (.02)   (.35)   11.38    (12.50)   150    .37    .37    2.77 
12/31/2021   13.79    .21    (.31)   (.10)   (.22)   (.08)   (.30)   13.39    (.75)   160    .34    .34    1.60 
12/31/2020   13.09    .25    1.18    1.43    (.29)   (.44)   (.73)   13.79    10.95    88    .35    .35    1.78 
12/31/2019   12.57    .34    .69    1.03    (.33)   (.18)   (.51)   13.09    8.25    43    .37    .37    2.53 
12/31/2018   12.89    .33    (.32)   .01    (.33)       (.33)   12.57    .09    8    .40    .40    2.63 
Class R-5:                                                                 
6/30/20235,6   11.38    .21    (.04)   .17    (.21)       (.21)   11.34    1.477    286    .288    .288    3.728 
12/31/2022   13.39    .35    (1.99)   (1.64)   (.35)   (.02)   (.37)   11.38    (12.40)   283    .27    .27    2.85 
12/31/2021   13.79    .22    (.31)   (.09)   (.23)   (.08)   (.31)   13.39    (.65)   373    .25    .25    1.69 
12/31/2020   13.09    .26    1.18    1.44    (.30)   (.44)   (.74)   13.79    11.06    192    .26    .26    1.91 
12/31/2019   12.57    .35    .69    1.04    (.34)   (.18)   (.52)   13.09    8.35    173    .29    .29    2.67 
12/31/2018   12.89    .34    (.32)   .02    (.34)       (.34)   12.57    .17    163    .31    .31    2.67 
Class R-6:                                                                 
6/30/20235,6   11.38    .21    (.04)   .17    (.21)       (.21)   11.34    1.497    14,801    .238    .238    3.788 
12/31/2022   13.39    .35    (1.99)   (1.64)   (.35)   (.02)   (.37)   11.38    (12.36)   14,744    .22    .22    2.93 
12/31/2021   13.79    .23    (.31)   (.08)   (.24)   (.08)   (.32)   13.39    (.60)   15,035    .20    .20    1.71 
12/31/2020   13.09    .27    1.18    1.45    (.31)   (.44)   (.75)   13.79    11.11    13,449    .21    .21    1.95 
12/31/2019   12.57    .36    .69    1.05    (.35)   (.18)   (.53)   13.09    8.40    10,434    .24    .24    2.72 
12/31/2018   12.89    .34    (.32)   .02    (.34)       (.34)   12.57    .22    8,116    .26    .26    2.73 

 

Refer to the end of the table for footnotes.

 

The Bond Fund of America 91
 

Financial highlights (continued)

 

    Six months ended
June 30, 20235,6,7
  Year ended December 31,
Portfolio turnover rate for all share classes13,14     2022   2021   2020   2019   2018
Excluding mortgage dollar roll transactions              57 %               74 %     74 %     113 %     127 %     121 %
Including mortgage dollar roll transactions     248 %     412 %     368 %     535 %     286 %     356 %

 

1   Based on average shares outstanding.
2   Total returns exclude any applicable sales charges, including contingent deferred sales charges.
3   This column reflects the impact, if any, of certain waivers/reimbursements from AFS and/or CRMC. During one of the years shown, AFS waived a portion of transfer agent services fees for Class F-3 shares. In addition, during one of the years shown, CRMC reimbursed a portion of transfer agent services fees for Class 529-F-3 shares.
4   Ratios do not include expenses of any Central Funds. The fund indirectly bears its proportionate share of the expenses of any Central Funds.
5   Based on operations for a period that is less than a full year.
6   Unaudited.
7   Not annualized.
8   Annualized.
9   All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower.
10   Amount less than $1 million.
11   Amount less than $.01.
12   Class 529-F-2 and 529-F-3 shares began investment operations on October 30, 2020.
13   Rates do not include the fund’s portfolio activity with respect to any Central Funds.
14   Refer to Note 5 for more information on mortgage dollar rolls.

 

Refer to the notes to financial statements.

 

92 The Bond Fund of America
 
Expense example unaudited

 

As a fund shareholder, you incur two types of costs: (1) transaction costs, such as initial sales charges on purchase payments and contingent deferred sales charges on redemptions (loads), and (2) ongoing costs, including management fees, distribution and service (12b-1) fees, and other expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire six-month period (January 1, 2023, through June 30, 2023).

 

Actual expenses:

The first line of each share class in the table on the following page provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading titled “Expenses paid during period” to estimate the expenses you paid on your account during this period.

 

Hypothetical example for comparison purposes:

The second line of each share class in the table on the following page provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed rate of return of 5.00% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the fund and other funds. To do so, compare this 5.00% hypothetical example with the 5.00% hypothetical examples that appear in the shareholder reports of the other funds.

 

Notes:

Retirement plan participants may be subject to certain fees charged by the plan sponsor, and Class F-1, F-2, F-3, 529-F-1, 529-F-2 and 529-F-3 shareholders may be subject to fees charged by financial intermediaries, typically ranging from 0.75% to 1.50% of assets annually depending on services offered. You can estimate the impact of these fees by adding the amount of the fees to the total estimated expenses you paid on your account during the period as calculated above. In addition, your ending account value would be lower by the amount of these fees.

 

Note that the expenses shown in the table on the following page are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of each share class in the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

The Bond Fund of America 93
 

Expense example (continued)

 

  Beginning
account value
1/1/2023
  Ending
account value
6/30/2023
  Expenses paid
during period*
  Annualized
expense ratio
Class A – actual return  $1,000.00   $1,013.02   $3.04    .61%
Class A – assumed 5% return   1,000.00    1,021.77    3.06    .61 
Class C – actual return   1,000.00    1,009.33    6.73    1.35 
Class C – assumed 5% return   1,000.00    1,018.10    6.76    1.35 
Class T – actual return   1,000.00    1,014.74    1.25    .25 
Class T – assumed 5% return   1,000.00    1,023.55    1.25    .25 
Class F-1 – actual return   1,000.00    1,012.91    3.14    .63 
Class F-1 – assumed 5% return   1,000.00    1,021.67    3.16    .63 
Class F-2 – actual return   1,000.00    1,014.36    1.70    .34 
Class F-2 – assumed 5% return   1,000.00    1,023.11    1.71    .34 
Class F-3 – actual return   1,000.00    1,014.91    1.15    .23 
Class F-3 – assumed 5% return   1,000.00    1,023.65    1.15    .23 
Class 529-A – actual return   1,000.00    1,012.83    3.24    .65 
Class 529-A – assumed 5% return   1,000.00    1,021.57    3.26    .65 
Class 529-C – actual return   1,000.00    1,008.99    7.02    1.41 
Class 529-C – assumed 5% return   1,000.00    1,017.80    7.05    1.41 
Class 529-E – actual return   1,000.00    1,011.86    4.19    .84 
Class 529-E – assumed 5% return   1,000.00    1,020.63    4.21    .84 
Class 529-T – actual return   1,000.00    1,014.45    1.60    .32 
Class 529-T – assumed 5% return   1,000.00    1,023.21    1.61    .32 
Class 529-F-1 – actual return   1,000.00    1,013.81    2.20    .44 
Class 529-F-1 – assumed 5% return   1,000.00    1,022.61    2.21    .44 
Class 529-F-2 – actual return   1,000.00    1,014.56    1.50    .30 
Class 529-F-2 – assumed 5% return   1,000.00    1,023.31    1.51    .30 
Class 529-F-3 – actual return   1,000.00    1,014.57    1.45    .29 
Class 529-F-3 – assumed 5% return   1,000.00    1,023.36    1.45    .29 
Class R-1 – actual return   1,000.00    1,009.45    6.58    1.32 
Class R-1 – assumed 5% return   1,000.00    1,018.25    6.61    1.32 
Class R-2 – actual return   1,000.00    1,009.45    6.58    1.32 
Class R-2 – assumed 5% return   1,000.00    1,018.25    6.61    1.32 
Class R-2E – actual return   1,000.00    1,010.90    5.14    1.03 
Class R-2E – assumed 5% return   1,000.00    1,019.69    5.16    1.03 
Class R-3 – actual return   1,000.00    1,011.68    4.39    .88 
Class R-3 – assumed 5% return   1,000.00    1,020.43    4.41    .88 
Class R-4 – actual return   1,000.00    1,013.18    2.90    .58 
Class R-4 – assumed 5% return   1,000.00    1,021.92    2.91    .58 
Class R-5E – actual return   1,000.00    1,014.18    1.90    .38 
Class R-5E – assumed 5% return   1,000.00    1,022.91    1.91    .38 
Class R-5 – actual return   1,000.00    1,014.67    1.40    .28 
Class R-5 – assumed 5% return   1,000.00    1,023.41    1.40    .28 
Class R-6 – actual return   1,000.00    1,014.91    1.15    .23 
Class R-6 – assumed 5% return   1,000.00    1,023.65    1.15    .23 

 

* The “expenses paid during period” are equal to the “annualized expense ratio,” multiplied by the average account value over the period, multiplied by the number of days in the period, and divided by 365 (to reflect the one-half year period).

 

94 The Bond Fund of America
 

Approval of Investment Advisory and Service Agreement

 

The fund’s board has approved the continuation of the fund’s Investment Advisory and Service Agreement (the “agreement”) with Capital Research and Management Company (“CRMC”) for an additional one-year term through April 30, 2024. The board approved the agreement following the recommendation of the fund’s Contracts Committee (the “committee”), which is composed of all the fund’s independent board members. The board and the committee determined in the exercise of their business judgment that the fund’s advisory fee structure was fair and reasonable in relation to the services provided, and that approving the agreement was in the best interests of the fund and its shareholders.

 

In reaching this decision, the board and the committee took into account their interactions with CRMC as well as information furnished to them throughout the year and otherwise provided to them, as well as information prepared specifically in connection with their review of the agreement, and were advised by their independent counsel with respect to the matters considered. They considered the following factors, among others, but did not identify any single issue or particular piece of information that, in isolation, was the controlling factor, and each board and committee member did not necessarily attribute the same weight to each factor.

 

1. Nature, extent and quality of services

 

The board and the committee considered the depth and quality of CRMC’s investment management process, including its global research capabilities; the experience, capability and integrity of its senior management and other personnel; the low turnover rates of its key personnel; the overall financial strength and stability of CRMC and the Capital Group organization; the resources and systems CRMC devotes to investment management (the manner in which the fund’s assets are managed, including liquidity management), financial, investment operations, compliance, trading, proxy voting, shareholder communications, and other services; and the ongoing evolution of CRMC’s organizational structure designed to maintain and strengthen these qualities. The board and the committee also considered the nature, extent and quality of administrative and shareholder services provided by CRMC to the fund under the agreement and other agreements, as well as the benefits to fund shareholders from investing in a fund that is part of a large family of funds. The board and the committee considered the risks assumed by CRMC in providing services to the fund, including operational, business, financial, reputational, regulatory and litigation risks. The board and the committee concluded that the nature, extent and quality of the services provided by CRMC have benefited and should continue to benefit the fund and its shareholders.

 

2. Investment results

 

The board and the committee considered the investment results of the fund in light of its objective. They compared the fund’s investment results with those of other funds (including funds that currently form the basis of the Lipper index for the category in which the fund is included) and data such as relevant market and fund indexes over various periods (including the fund’s lifetime) through September 30, 2022. They generally placed greater emphasis on investment results over longer term periods. On the basis of this evaluation and the board’s and the committee’s ongoing review of investment results, and considering the relative market conditions during certain reporting periods, the board and the committee concluded that the fund’s investment results have been satisfactory for renewal of the agreement, and that CRMC’s record in managing the fund indicated that its continued management should benefit the fund and its shareholders.

 

3. Advisory fees and total expenses

 

The board and the committee compared the advisory fees and total expense levels of the fund to those of other relevant funds. They observed that the fund’s advisory fees and expenses generally compared favorably to those of other similar funds included in the comparable Lipper category. The board and the committee also considered the breakpoint discounts in the fund’s advisory fee structure that reduce the level of fees charged by CRMC to the fund as fund assets increase. In addition, they reviewed information regarding the effective advisory fees charged to non-mutual fund clients by CRMC and its affiliates. They noted that, to the extent there were differences between the advisory fees paid by the fund and the advisory fees paid by those clients, the differences appropriately reflected the investment, operational, regulatory and market differences between advising the fund and the other clients. The board and the committee concluded that the fund’s cost structure was fair and reasonable in relation to the services provided, as well as in relation to the risks assumed by the adviser in sponsoring and managing the fund, and that the fund’s shareholders receive reasonable value in return for the advisory fees and other amounts paid to CRMC by the fund.

 

The Bond Fund of America 95
 

4. Ancillary benefits

 

The board and the committee considered a variety of other benefits that CRMC and its affiliates receive as a result of CRMC’s relationship with the fund and other American Funds, including fees for administrative services provided to certain share classes; fees paid to CRMC’s affiliated transfer agent; sales charges and distribution fees received and retained by the fund’s principal underwriter, an affiliate of CRMC; and possible ancillary benefits to CRMC and its institutional management affiliates in managing other investment vehicles. The board and the committee reviewed CRMC’s portfolio trading practices, noting that CRMC bears the cost of third-party research. The board and committee also noted that CRMC benefited from the use of commissions from portfolio transactions made on behalf of the fund to facilitate payment to certain broker-dealers for research to comply with regulatory requirements applicable to these firms, with all such amounts reimbursed by CRMC. The board and the committee took these ancillary benefits into account in evaluating the reasonableness of the advisory fees and other amounts paid to CRMC by the fund.

 

5. Adviser financial information

 

The board and the committee reviewed information regarding CRMC’s costs of providing services to the American Funds, including personnel, systems and resources of investment, compliance, trading, accounting and other administrative operations. They considered CRMC’s costs and related cost allocation methodology as well as its track record of investing in technology, infrastructure and staff to maintain and expand services and capabilities, respond to industry and regulatory developments, and attract and retain qualified personnel. They noted information regarding the compensation structure for CRMC’s investment professionals. They reviewed information on the profitability of the investment adviser and its affiliates. The board and the committee also compared CRMC’s profitability and compensation data to the reported results and data of a number of large, publicly held investment management companies. The board and the committee noted the competitiveness and cyclicality of both the mutual fund industry and the capital markets, and the importance in that environment of CRMC’s long-term profitability for maintaining its independence, company culture and management continuity. They further considered the breakpoint discounts in the fund’s advisory fee structure and CRMC’s sharing of potential economies of scale, or efficiencies, through breakpoints and other fee reductions and costs voluntarily absorbed. The board and the committee concluded that the fund’s advisory fee structure reflected a reasonable sharing of benefits between CRMC and the fund’s shareholders.

 

96 The Bond Fund of America
 

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The Bond Fund of America 97
 

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98 The Bond Fund of America
 

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100 The Bond Fund of America
 

Office of the fund

333 South Hope Street
Los Angeles, CA 90071-1406

 

Investment adviser

Capital Research and Management Company

333 South Hope Street
Los Angeles, CA 90071-1406

 

Transfer agent for shareholder accounts

American Funds Service Company

(Write to the address nearest you.)

 

P.O. Box 6007

Indianapolis, IN 46206-6007

 

P.O. Box 2280

Norfolk, VA 23501-2280

 

Custodian of assets

JPMorgan Chase Bank
270 Park Avenue

New York, NY 10017-2070

 

Counsel

Morgan, Lewis & Bockius LLP
One Federal Street
Boston, MA 02110-1726

 

Independent registered public accounting firm

Deloitte & Touche LLP
695 Town Center Drive

Suite 1000

Costa Mesa, CA 92626-7188

 

Principal underwriter

American Funds Distributors, Inc.

333 South Hope Street
Los Angeles, CA 90071-1406

 

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or refer to the Capital Group website at capitalgroup.com.

 

“American Funds Proxy Voting Procedures and Principles” — which describes how we vote proxies relating to portfolio securities — is available on the American Funds website or upon request by calling AFS. The fund files its proxy voting record with the U.S. Securities and Exchange Commission (SEC) for the 12 months ended June 30 by August 31. The proxy voting record is available free of charge on the SEC website at sec.gov or our website.

 

The Bond Fund of America files a complete list of its portfolio holdings with the SEC for the first and third quarters of each fiscal year on NPORT-P. The list of portfolio holdings is available free of charge on the SEC website and on our website.

 

This report is for the information of shareholders of The Bond Fund of America, but it also may be used as sales literature when preceded or accompanied by the current prospectus or summary prospectus, which gives details about charges, expenses, investment objectives and operating policies of the fund. If used as sales material after September 30, 2023, this report must be accompanied by an American Funds statistical update for the most recently completed calendar quarter.

 

Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg’s licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

 

American Funds Distributors, Inc.

 

The Capital Advantage®

 

Since 1931, Capital Group, home of American Funds, has helped investors pursue long-term investment success. Our consistent approach — in combination with The Capital SystemTM — has resulted in superior outcomes.

 

  Aligned with investor success
  We base our decisions on a long-term perspective, which we believe aligns our goals with the interests of our clients. Our portfolio managers average 28 years of investment industry experience, including 22 years at our company, reflecting a career commitment to our long-term approach.1
   
  The Capital System
  The Capital System combines individual accountability with teamwork. Funds using The Capital System are divided into portions that are managed independently by investment professionals with diverse backgrounds, ages and investment approaches. An extensive global research effort is the backbone of our system.
   
  American Funds’ superior outcomes
  Equity-focused funds have beaten their Lipper peer indexes in 90% of 10-year periods and 99% of 20-year periods.2 Relative to their peers, our fixed income funds have helped investors achieve better diversification through attention to correlation between bonds and equities.3 Fund management fees have been among the lowest in the industry.4

 

  1 Investment industry experience as of December 31, 2022.
  2 Based on Class F-2 share results for rolling monthly 10- and 20-year periods starting with the first 10- or 20-year period after each mutual fund’s inception through December 31, 2022. Periods covered are the shorter of the fund’s lifetime or since the comparable Lipper index inception date (except Capital Income Builder and SMALLCAP World Fund, for which the Lipper average was used). Expenses differ for each share class, so results will vary. Past results are not predictive of results in future periods.
  3 Based on Class F-2 share results as of December 31, 2022. Sixteen of the 18 fixed income American Funds that have been in existence for the three-year period showed a three-year correlation lower than their respective Morningstar peer group averages. S&P 500 Index was used as an equity market proxy. Correlation based on monthly total returns. Correlation is a statistical measure of how two securities move in relation to each other. A correlation ranges from –1 to 1. A positive correlation close to 1 implies that as one security moves, either up or down, the other security will move in “lockstep,” in the same direction. A negative correlation close to –1 indicates that the securities have moved in the opposite direction.
  4 On average, our mutual fund management fees were in the lowest quintile 62% of the time, based on the 20-year period ended December 31, 2022, versus comparable Lipper categories, excluding funds of funds.

 

Class F-2 shares were first offered on August 1, 2008. Class F-2 share results prior to the date of first sale are hypothetical based on the results of the original share class of the fund without a sales charge, adjusted for typical estimated expenses. Results for certain funds with an inception date after August 1, 2008, also include hypothetical returns because those funds’ Class F-2 shares sold after the funds’ date of first offering. Refer to capitalgroup.com for more information on specific expense adjustments and the actual dates of first sale.

 

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

 

 

 

 

ITEM 2 – Code of Ethics

 

Not applicable for filing of semi-annual reports to shareholders.

 

ITEM 3 – Audit Committee Financial Expert

 

Not applicable for filing of semi-annual reports to shareholders.

 

ITEM 4 – Principal Accountant Fees and Services

 

Not applicable for filing of semi-annual reports to shareholders.

 

ITEM 5 – Audit Committee of Listed Registrants

 

Not applicable to this Registrant, insofar as the Registrant is not a listed issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934.

 

ITEM 6 – Schedule of Investments

 

Not applicable, insofar as the schedule is included as part of the report to shareholders filed under Item 1 of this Form.

 

ITEM 7 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

 

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

 

ITEM 8 – Portfolio Managers of Closed-End Management Investment Companies

 

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

 

ITEM 9 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

 

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

 

ITEM 10 – Submission of Matters to a Vote of Security Holders

 

There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s board of trustees since the Registrant last submitted a proxy statement to its shareholders. The procedures are as follows. The Registrant has a nominating and governance committee comprised solely of persons who are not considered ‘‘interested persons’’ of the Registrant within the meaning of the Investment Company Act of 1940, as amended. The committee periodically reviews such issues as the board’s composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of trustees. While the committee normally is able to identify from its own resources an ample number of qualified candidates, it will consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be sent in writing to the nominating and governance committee of the Registrant, c/o the Registrant’s Secretary, and must be accompanied by complete biographical and occupational data on the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the nominating and governance committee.

 

ITEM 11 – Controls and Procedures

 

(a) The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940), that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule.
   
(b)

There were no changes in the Registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s semi-annual period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

 

 

ITEM 12 – Exhibits

 

(a)(1) Not applicable for filing of semi-annual reports to shareholders.
   
(a)(2) The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto.

 

 
 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  THE BOND FUND OF AMERICA
   
  By __/s/ Kristine M. Nishiyama____________________
 

Kristine M. Nishiyama,

Principal Executive Officer

   
  Date: August 31, 2023

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

 

 

By __/s/ Kristine M. Nishiyama_________________

Kristine M. Nishiyama,

Principal Executive Officer

 
Date: August 31, 2023

 

 

 

By ___/s/ Becky L. Park    __________

Becky L. Park, Treasurer and

Principal Financial Officer

 
Date: August 31, 2023