N-Q 1 cbf_nq.htm N-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

Quarterly Schedule of Portfolio Holdings of

Registered Management Investment Company

 

Investment Company Act File Number: 811-22744

 

American Funds Corporate Bond Fund

(Exact Name of Registrant as Specified in Charter)

 

6455 Irvine Center Drive

Irvine, California 92618

(Address of Principal Executive Offices)

 

Registrant's telephone number, including area code: (213) 486-9200

 

Date of fiscal year end: May 31

 

Date of reporting period: February 28, 2019

 

Steven I. Koszalka

American Funds Corporate Bond Fund

333 South Hope Street

Los Angeles, California 90071

(Name and Address of Agent for Service)

 

ITEM 1 – Schedule of Investments

 

 

 

IMAGE OMITTED [img9c110a8e1.jpg]

 

American Funds Corporate Bond Fund®

Investment portfolio

February 28, 2019

 

 

unaudited

 

 

Bonds, notes & other debt instruments 92.74%
Corporate bonds & notes 84.85%
Financials 15.95%		 Principal amount
(000)		 Value
(000)
ACE INA Holdings Inc. 2.30% 2020 $200 $198
ACE INA Holdings Inc. 2.875% 2022 15 15
ACE INA Holdings Inc. 3.15% 2025 250 248
ACE INA Holdings Inc. 3.35% 2026 100 100
American International Group, Inc. 3.90% 2026 300 293
American International Group, Inc. 4.80% 2045 100 96
American International Group, Inc. 4.75% 2048 700 662
AXA Equitable Holdings, Inc. 5.00% 2048 225 212
Bank of America Corp. 3.55% 2024 (3-month USD-LIBOR + 0.78% on 3/5/2023)1 3,125 3,139
Barclays Bank PLC 4.972% 2029 (3-month USD-LIBOR + 1.902% on 5/16/2028)1 1,000 1,014
Barclays Bank PLC 4.95% 2047 1,300 1,247
Berkshire Hathaway Finance Corp. 4.20% 2048 1,550 1,568
Berkshire Hathaway Finance Corp. 4.25% 2049 300 305
Berkshire Hathaway Inc. 3.125% 2026 350 347
Berkshire Hathaway Inc. 4.50% 2043 125 132
BNP Paribas 3.375% 20252 1,550 1,501
CBOE Holdings, Inc. 1.95% 2019 850 848
Citigroup Inc. 4.044% 2024 (3-month USD-LIBOR + 1.023% on 6/1/2023)1 1,125 1,151
Crédit Agricole SA 4.375% 20252 480 480
Credit Suisse Group AG 2.997% 2023 (3-month USD-LIBOR + 1.20% on 12/14/2022)1,2 650 629
Credit Suisse Group AG 3.80% 2023 425 425
Credit Suisse Group AG 4.207% 2024 (3-month USD-LIBOR + 1.24% on 6/12/2023)1,2 1,350 1,358
Credit Suisse Group AG 4.55% 2026 500 513
Credit Suisse Group AG 3.869% 2029 (3-month USD-LIBOR + 1.41% on 1/12/2028)1,2 2,000 1,926
Danske Bank AS 2.80% 20212 750 737
Danske Bank AS 2.70% 20222 200 193
Discover Financial Services 3.35% 2023 650 643
Ford Motor Credit Co. 3.81% 2024 2,500 2,331
Goldman Sachs Group, Inc. 2.55% 2019 1,618 1,615
Goldman Sachs Group, Inc. 2.905% 2023 (3-month USD-LIBOR + 0.99% on 7/24/2022)1 1,725 1,690
Goldman Sachs Group, Inc. 3.854% 20263 425 415
Goldman Sachs Group, Inc. 3.814% 2029 (3-month USD-LIBOR + 1.158% on 4/23/2028)1 1,250 1,218
Goldman Sachs Group, Inc. 4.223% 2029 (3-month USD-LIBOR + 1.301% on 5/1/2028)1 2,295 2,302
Groupe BPCE SA 2.75% 20232 250 243
Groupe BPCE SA 5.70% 20232 200 210
Groupe BPCE SA 5.15% 20242 620 636
HSBC Holdings PLC 3.95% 2024 (3-month USD-LIBOR + 0.987% on 5/18/2023)1 1,275 1,288
HSBC Holdings PLC 4.583% 2029 (3-month USD-LIBOR + 1.535% on 6/19/2028)1 2,573 2,639
Intesa Sanpaolo SpA 5.017% 20242 870 806
Intesa Sanpaolo SpA 5.71% 20262 1,860 1,744
JPMorgan Chase & Co. 2.25% 2020 1,552 1,544
JPMorgan Chase & Co. 3.797% 2024 (3-month USD-LIBOR + 0.89% on 7/23/2023)1 1,100 1,117
JPMorgan Chase & Co. 4.203% 2029 (3-month USD-LIBOR + 1.26% on 7/23/2028)1 1,808 1,855
JPMorgan Chase & Co. 4.452% 2029 (3-month USD-LIBOR + 1.33% on 12/5/2028)1 4,085 4,280
Lloyds Banking Group PLC 4.45% 2025 1,800 1,843
Lloyds Banking Group PLC 4.375% 2028 590 591

 

American Funds Corporate Bond Fund — Page 1 of 15

 

 

 

unaudited

 

 

Bonds, notes & other debt instruments (continued)
Corporate bonds & notes (continued)
Financials (continued)		 Principal amount
(000)		 Value
(000)
Marsh & McLennan Companies, Inc. 4.375% 2029 $1,410 $1,456
Marsh & McLennan Companies, Inc. 4.90% 2049 200 211
MetLife, Inc. 4.60% 2046 100 104
Metropolitan Life Global Funding I 2.00% 20202 150 149
Metropolitan Life Global Funding I 2.05% 20202 1,350 1,336
Metropolitan Life Global Funding I 2.50% 20202 150 149
Metropolitan Life Global Funding I 1.95% 20212 850 826
Metropolitan Life Global Funding I 2.40% 20212 1,200 1,189
Metropolitan Life Global Funding I 3.45% 20212 150 151
Metropolitan Life Global Funding I 3.60% 20242 250 253
Metropolitan Life Global Funding I 3.45% 20262 150 149
Metropolitan Life Global Funding I 3.00% 20272 200 191
Mitsubishi UFJ Financial Group, Inc. 3.407% 2024 1,300 1,301
Morgan Stanley 3.737% 2024 (3-month USD-LIBOR + 0.847% on 4/24/2023)1 2,500 2,524
Morgan Stanley 4.431% 2030 (3-month USD-LIBOR + 1.628% on 1/23/2029)1 5,565 5,753
National Rural Utilities Cooperative Finance Corp. 3.70% 2029 1,595 1,612
National Rural Utilities Cooperative Finance Corp. 4.30% 2049 200 204
Nationwide Building Society 4.363% 2024 (3-month USD-LIBOR + 1.392% on 8/1/2023)1,2 1,400 1,405
New York Life Global Funding 1.70% 20212 900 872
New York Life Global Funding 2.00% 20212 800 784
New York Life Global Funding 2.30% 20222 1,150 1,120
New York Life Global Funding 3.00% 20282 200 193
Nuveen, LLC 4.00% 20282 975 1,015
Principal Financial Group, Inc. 4.111% 20282 250 251
Progressive Corp. 4.00% 2029 250 261
Prudential Financial, Inc. 5.625% 2043 (3-month USD-LIBOR + 3.92% on 6/15/2023)1 150 156
Prudential Financial, Inc. 3.905% 2047 350 323
Prudential Financial, Inc. 5.70% 2048 (3-month USD-LIBOR + 2.665% on 9/15/2028)1 500 494
Prudential Financial, Inc. 4.35% 2050 550 541
Rabobank Nederland 4.375% 2025 500 508
Royal Bank of Scotland PLC 5.076% 2030 (3-month USD-LIBOR + 1.905% on 1/27/2029)1 1,100 1,131
Santander Holdings USA, Inc. 3.70% 2022 1,250 1,250
Travelers Companies, Inc. 4.00% 2047 105 103
Travelers Companies, Inc. 4.05% 2048 100 99
Travelers Companies, Inc. 4.10% 2049 950 942
UniCredit SpA 6.572% 20222 625 641
UniCredit SpA 4.625% 20272 605 573
UniCredit SpA 5.861% 20321,2 200 179
US Bancorp 2.05% 2020 1,650 1,629
Wells Fargo & Co. 2.625% 2022 1,150 1,129
Wells Fargo & Co. 3.55% 2023 1,450 1,472
Wells Fargo & Co. 3.75% 2024 4,930 5,025
    88,001
Health care 14.15%    
Abbott Laboratories 2.90% 2021 1,285 1,285
Abbott Laboratories 3.40% 2023 821 829
Abbott Laboratories 3.75% 2026 31 31
Abbott Laboratories 4.90% 2046 170 187
AbbVie Inc. 2.50% 2020 100 99
AbbVie Inc. 2.30% 2021 80 79
AbbVie Inc. 2.85% 2023 600 584
AbbVie Inc. 4.45% 2046 1,901 1,673
AbbVie Inc. 4.875% 2048 625 587

 

American Funds Corporate Bond Fund — Page 2 of 15

 

 

 

unaudited

 

 

Bonds, notes & other debt instruments (continued)
Corporate bonds & notes (continued)
Health care (continued)		 Principal amount
(000)		 Value
(000)
Allergan PLC 3.00% 2020 $300 $300
Allergan PLC 3.45% 2022 3,584 3,571
Allergan PLC 3.80% 2025 324 320
Allergan PLC 4.75% 2045 350 324
AstraZeneca PLC 3.50% 2023 377 379
AstraZeneca PLC 3.375% 2025 740 728
AstraZeneca PLC 4.00% 2029 522 525
Bayer US Finance II LLC 3.875% 20232 750 748
Bayer US Finance II LLC 4.25% 20252 2,725 2,728
Bayer US Finance II LLC 4.375% 20282 4,675 4,554
Becton, Dickinson and Co. 2.675% 2019 49 49
Becton, Dickinson and Co. 2.894% 2022 1,210 1,198
Becton, Dickinson and Co. 3.363% 2024 1,150 1,132
Becton, Dickinson and Co. 3.70% 2027 2,090 2,027
Boston Scientific Corp. 2.85% 2020 150 150
Boston Scientific Corp. 3.375% 2022 400 401
Boston Scientific Corp. 3.45% 2024 300 301
Boston Scientific Corp. 3.75% 2026 1,590 1,592
Boston Scientific Corp. 4.00% 2029 1,075 1,077
Boston Scientific Corp. 4.70% 2049 195 197
Celgene Corp. 3.25% 2023 803 797
Cigna Corp. 3.75% 20232 400 405
Cigna Corp. 4.375% 20282 3,260 3,308
Cigna Corp. 4.80% 20382 690 690
Cigna Corp. 4.90% 20482 1,870 1,865
CVS Health Corp. 3.35% 2021 340 341
CVS Health Corp. 4.30% 2028 1,733 1,736
CVS Health Corp. 4.78% 2038 900 877
CVS Health Corp. 5.05% 2048 2,335 2,317
Eli Lilly and Co. 3.375% 2029 1,194 1,196
EMD Finance LLC 3.25% 20252 3,770 3,650
GlaxoSmithKline PLC 3.375% 2023 475 481
Johnson & Johnson 2.45% 2026 658 629
Johnson & Johnson 2.90% 2028 619 601
Laboratory Corp. of America Holdings 2.625% 2020 200 199
Laboratory Corp. of America Holdings 3.60% 2027 600 580
Medtronic, Inc. 3.50% 2025 200 203
Medtronic, Inc. 4.625% 2045 300 329
Merck & Co., Inc. 2.80% 2023 261 259
Merck & Co., Inc. 2.75% 2025 433 425
Novartis Capital Corp. 2.40% 2022 2,000 1,977
Pfizer Inc. 3.00% 2021 657 661
Pfizer Inc. 3.20% 2023 2,407 2,443
Shire PLC 2.40% 2021 831 813
Shire PLC 2.875% 2023 2,455 2,371
Shire PLC 3.20% 2026 1,255 1,178
Takeda Pharmaceutical Co., Ltd. 4.40% 20232 2,414 2,492
Takeda Pharmaceutical Co., Ltd. 5.00% 20282 7,478 7,832
Teva Pharmaceutical Finance Co. BV 2.80% 2023 5,365 4,859
Teva Pharmaceutical Finance Co. BV 3.15% 2026 615 512
Teva Pharmaceutical Finance Co. BV 4.10% 2046 1,650 1,196
UnitedHealth Group Inc. 2.125% 2021 100 99
UnitedHealth Group Inc. 3.50% 2024 545 553
UnitedHealth Group Inc. 3.75% 2025 400 411

 

American Funds Corporate Bond Fund — Page 3 of 15

 

 

 

unaudited

 

 

Bonds, notes & other debt instruments (continued)
Corporate bonds & notes (continued)
Health care (continued)		 Principal amount
(000)		 Value
(000)
UnitedHealth Group Inc. 4.45% 2048 $200 $209
WellPoint, Inc. 3.125% 2022 1,575 1,573
Zimmer Holdings, Inc. 3.15% 2022 400 397
    78,119
Utilities 12.41%    
Abu Dhabi National Energy Co. PJSC (TAQA) 4.375% 20252 650 664
AEP Transmission Co. LLC 4.25% 2048 200 203
Alliant Energy Finance LLC 3.75% 20232 377 380
Alliant Energy Finance LLC 4.25% 20282 377 376
American Electric Power Co., Inc. 3.65% 2021 1,600 1,619
American Electric Power Co., Inc. 4.30% 2028 4,743 4,896
CenterPoint Energy, Inc. 3.85% 2024 1,465 1,470
CenterPoint Energy, Inc. 4.25% 2028 230 232
Colbun SA 4.50% 2024 200 204
Colbun SA 3.95% 20272 400 386
Comision Federal de Electricidad 4.75% 20272 500 492
Consolidated Edison Co. of New York, Inc. 4.65% 2048 290 306
Dominion Resources, Inc. 2.962% 20191 300 300
DTE Electric Co 3.95% 2049 615 603
DTE Energy Co. 3.70% 2023 2,395 2,414
EDP Finance BV 5.25% 20212 400 412
EDP Finance BV 3.625% 20242 2,000 1,952
Electricité de France SA 4.95% 20452 200 195
Electricité de France SA 5.00% 20482 1,250 1,232
Electricité de France SA 5.25% (undated)
(USD Semi Annual 30/360 (vs. 3M LIBOR) 10Y + 3.709% on 1/29/2023)1,2		 150 149
Emera Inc. 6.75% 2076 (3-month USD-LIBOR + 5.44% on 6/15/2026)1 400 415
Emera US Finance LP 4.75% 2046 1,425 1,400
Empresa Nacional de Electricidad SA 4.25% 2024 150 153
Enel Chile SA 4.875% 2028 145 151
Enel Finance International SA 3.625% 20272 1,175 1,084
Enel Finance International SA 3.50% 20282 3,902 3,495
Enel Finance International SA 6.00% 20392 250 260
Enel Società per Azioni 8.75% 20731,2 1,000 1,090
Entergy Corp. 2.95% 2026 2,085 1,956
Eversource Energy 4.25% 2029 625 648
Exelon Corp. 3.497% 20221 3,125 3,105
FirstEnergy Corp. 3.90% 2027 4,330 4,291
FirstEnergy Corp. 3.50% 20282 1,000 948
Florida Power & Light Co. 3.99% 2049 500 497
Great Plains Energy Inc. 4.20% 2047 2,000 1,931
Gulf Power Co. 3.30% 2027 1,000 981
Iberdrola Finance Ireland 5.00% 20192 150 151
Interstate Power and Light Co. 3.25% 2024 1,000 989
IPALCO Enterprises, Inc. 3.70% 2024 400 394
Jersey Central Power & Light Co. 4.30% 20262 1,085 1,108
Metropolitan Edison Co. 4.30% 20292 200 203
Mississippi Power Co. 3.95% 2028 1,000 990
Mississippi Power Co. 4.25% 2042 2,125 1,958
National Grid PLC 3.15% 20272 265 253
New York State Electric & Gas Corp. 3.25% 20262 100 98
Niagara Mohawk Power Corp. 3.508% 20242 300 302
NiSource Finance Corp. 2.65% 2022 100 97

 

American Funds Corporate Bond Fund — Page 4 of 15

 

 

 

unaudited

 

 

Bonds, notes & other debt instruments (continued)
Corporate bonds & notes (continued)
Utilities (continued)		 Principal amount
(000)		 Value
(000)
Pacific Gas and Electric Co. 3.50% 2020 $1,481 $1,303
Pacific Gas and Electric Co. 2.45% 20224 725 624
Pacific Gas and Electric Co. 4.25% 20232,4 2,000 1,770
Pacific Gas and Electric Co. 2.95% 2026 1,313 1,083
Pacific Gas and Electric Co. 4.65% 20282,4 1,442 1,262
Pacific Gas and Electric Co. 3.95% 2047 200 157
Progress Energy, Inc. 7.00% 2031 525 668
Public Service Co. of Colorado 4.10% 2048 625 630
Public Service Enterprise Group Inc. 2.00% 2021 1,475 1,424
Public Service Enterprise Group Inc. 2.65% 2022 360 352
Puget Energy, Inc. 5.625% 2022 1,040 1,096
Puget Energy, Inc. 3.65% 2025 275 269
SCANA Corp. 6.25% 2020 500 511
SCANA Corp. 4.75% 2021 1,869 1,902
SCANA Corp. 4.125% 2022 600 605
South Carolina Electric & Gas Co. 4.25% 2028 3,000 3,200
South Carolina Electric & Gas Co. 5.30% 2033 846 931
Southern California Edison Co. 3.90% 2043 350 313
Southern California Edison Co. 4.65% 2043 260 259
Southern California Edison Co. 4.125% 2048 1,040 959
Tampa Electric Co. 4.45% 2049 500 498
Virginia Electric and Power Co. 4.60% 2048 1,180 1,242
    68,491
Energy 9.82%    
Anadarko Petroleum Corp. 4.85% 2021 434 446
Andeavor Logistics LP 3.50% 2022 650 647
Baker Hughes, a GE Co. 3.337% 2027 425 403
Baker Hughes, a GE Co. 4.08% 2047 625 553
BP Capital Markets PLC 3.52% 2026 1,750 1,748
BP Capital Markets PLC 4.234% 2028 1,760 1,852
Canadian Natural Resources Ltd. 2.95% 2023 1,495 1,464
Canadian Natural Resources Ltd. 3.85% 2027 1,725 1,689
Canadian Natural Resources Ltd. 4.95% 2047 325 339
Cenovus Energy Inc. 3.00% 2022 260 251
Cenovus Energy Inc. 4.25% 2027 680 648
Cenovus Energy Inc. 5.40% 2047 3,173 3,017
Chevron Corp. 2.498% 2022 2,600 2,580
Chevron Corp. 2.954% 2026 140 138
Concho Resources Inc. 4.85% 2048 200 201
Enbridge Energy Partners, LP 4.375% 2020 60 61
Enbridge Energy Partners, LP 5.875% 2025 85 94
Enbridge Energy Partners, LP 7.375% 2045 1,510 2,037
Enbridge Inc. 2.90% 2022 825 812
Enbridge Inc. 4.00% 2023 750 764
Enbridge Inc. 3.50% 2024 1,100 1,087
Enbridge Inc. 3.70% 2027 896 880
Energy Transfer Partners, LP 4.20% 2027 373 364
Energy Transfer Partners, LP 6.125% 2045 125 131
Energy Transfer Partners, LP 5.30% 2047 1,065 1,008
Energy Transfer Partners, LP 5.40% 2047 2,351 2,265
Energy Transfer Partners, LP 6.00% 2048 1,893 1,967
Energy Transfer Partners, LP 6.25% 2049 734 791
EnLink Midstream Partners, LP 2.70% 2019 60 60

 

American Funds Corporate Bond Fund — Page 5 of 15

 

 

 

unaudited

 

 

Bonds, notes & other debt instruments (continued)
Corporate bonds & notes (continued)
Energy (continued)		 Principal amount
(000)		 Value
(000)
EnLink Midstream Partners, LP 5.45% 2047 $1,015 $901
Equinor ASA 3.625% 2028 1,635 1,664
Exxon Mobil Corp. 2.222% 2021 2,000 1,983
Kinder Morgan Energy Partners, LP 3.50% 2023 850 850
Kinder Morgan, Inc. 3.15% 2023 610 604
Kinder Morgan, Inc. 4.30% 2028 475 480
Kinder Morgan, Inc. 5.05% 2046 375 372
Kinder Morgan, Inc. 5.20% 2048 475 481
Noble Energy, Inc. 4.95% 2047 720 675
Petróleos Mexicanos 5.50% 2021 460 467
Petróleos Mexicanos 3.50% 2023 550 514
Petróleos Mexicanos 6.875% 2026 440 439
Petróleos Mexicanos 6.50% 2029 1,410 1,337
Sabine Pass Liquefaction, LLC 5.625% 20211 380 393
Schlumberger BV 3.75% 20242 375 377
Schlumberger BV 4.00% 20252 1,815 1,832
Schlumberger BV 4.30% 20292 1,050 1,065
Shell International Finance BV 1.75% 2021 50 49
Shell International Finance BV 3.50% 2023 2,058 2,104
Shell International Finance BV 2.50% 2026 100 94
Shell International Finance BV 3.875% 2028 300 311
Total Capital International 3.70% 2024 890 913
Total Capital International 3.455% 2029 1,520 1,518
Total Capital SA 3.883% 2028 370 383
TransCanada PipeLines Ltd. 4.25% 2028 2,545 2,601
TransCanada PipeLines Ltd. 4.875% 2048 800 807
TransCanada PipeLines Ltd. 5.10% 2049 600 623
Williams Partners LP 4.50% 2023 2,000 2,065
    54,199
Consumer staples 9.77%    
Altria Group, Inc. 3.80% 2024 275 275
Altria Group, Inc. 4.40% 2026 405 409
Altria Group, Inc. 4.80% 2029 3,570 3,570
Altria Group, Inc. 5.80% 2039 520 520
Altria Group, Inc. 5.95% 2049 2,900 2,903
Anheuser-Busch Co./InBev Worldwide 4.70% 20362 465 451
Anheuser-Busch Co./InBev Worldwide 4.90% 20462 3,300 3,182
Anheuser-Busch InBev NV 4.00% 2028 200 199
Anheuser-Busch InBev NV 4.75% 2029 550 575
Anheuser-Busch InBev NV 4.90% 2031 890 934
Anheuser-Busch InBev NV 5.45% 2039 310 326
Anheuser-Busch InBev NV 5.55% 2049 1,325 1,397
British American Tobacco PLC 2.297% 2020 1,000 986
British American Tobacco PLC 2.764% 2022 310 302
British American Tobacco PLC 3.222% 2024 1,210 1,166
British American Tobacco PLC 3.557% 2027 4,880 4,465
British American Tobacco PLC 4.54% 2047 3,005 2,442
Conagra Brands, Inc. 4.30% 2024 400 406
Conagra Brands, Inc. 4.60% 2025 1,080 1,097
Conagra Brands, Inc. 4.85% 2028 740 744
Conagra Brands, Inc. 5.40% 2048 625 588
Constellation Brands, Inc. 2.65% 2022 1,195 1,161
Constellation Brands, Inc. 2.70% 2022 20 20

 

American Funds Corporate Bond Fund — Page 6 of 15

 

 

 

unaudited

 

 

Bonds, notes & other debt instruments (continued)
Corporate bonds & notes (continued)
Consumer staples (continued)		 Principal amount
(000)		 Value
(000)
Constellation Brands, Inc. 3.20% 2023 $490 $483
Constellation Brands, Inc. 3.60% 2028 710 674
Constellation Brands, Inc. 4.10% 2048 200 172
Costco Wholesale Corp. 2.30% 2022 150 149
Costco Wholesale Corp. 2.75% 2024 150 149
Keurig Dr Pepper Inc. 3.551% 20212 625 629
Keurig Dr Pepper Inc. 4.057% 20232 4,810 4,866
Keurig Dr Pepper Inc. 4.417% 20252 420 428
Keurig Dr Pepper Inc. 4.597% 20282 870 880
Keurig Dr Pepper Inc. 5.085% 20482 1,966 1,914
Kraft Heinz Co. 3.50% 2022 1,650 1,645
Molson Coors Brewing Co. 1.45% 2019 100 99
Molson Coors Brewing Co. 2.25% 2020 325 322
Molson Coors Brewing Co. 2.10% 2021 750 730
Molson Coors Brewing Co. 3.00% 2026 250 230
Molson Coors Brewing Co. 4.20% 2046 880 749
Nestle Holdings, Inc. 3.35% 20232 2,200 2,238
Pernod Ricard SA 4.45% 20222 600 617
Philip Morris International Inc. 2.625% 2022 1,224 1,208
Philip Morris International Inc. 4.875% 2043 325 321
Philip Morris International Inc. 4.25% 2044 650 597
Procter & Gamble Co. 1.75% 2019 450 448
Reynolds American Inc. 4.45% 2025 225 227
Reynolds American Inc. 5.85% 2045 225 215
Wal-Mart Stores, Inc. 3.125% 2021 1,000 1,010
Wal-Mart Stores, Inc. 2.35% 2022 200 197
Wal-Mart Stores, Inc. 3.40% 2023 535 545
Wal-Mart Stores, Inc. 3.70% 2028 750 772
WM. Wrigley Jr. Co. 2.90% 20192 300 300
WM. Wrigley Jr. Co. 3.375% 20202 2,950 2,970
    53,902
Communication services 6.11%    
AT&T Inc. (3-month USD-LIBOR + 1.18%) 3.956% 20243 2,820 2,791
AT&T Inc. 4.35% 2029 2,985 2,977
AT&T Inc. 4.85% 2039 280 268
AT&T Inc. 4.35% 2045 1,000 875
CCO Holdings LLC and CCO Holdings Capital Corp. 3.579% 2020 200 201
CCO Holdings LLC and CCO Holdings Capital Corp. 4.908% 2025 200 207
CCO Holdings LLC and CCO Holdings Capital Corp. 3.75% 2028 200 187
CCO Holdings LLC and CCO Holdings Capital Corp. 4.20% 2028 2,280 2,216
CCO Holdings LLC and CCO Holdings Capital Corp. 5.375% 2047 875 831
CCO Holdings LLC and CCO Holdings Capital Corp. 5.75% 2048 2,185 2,190
Comcast Corp. 3.95% 2025 1,500 1,547
Comcast Corp. 4.15% 2028 875 902
Comcast Corp. 4.60% 2038 520 536
Comcast Corp. 4.00% 2047 490 455
Comcast Corp. 4.00% 2048 605 567
Comcast Corp. 4.70% 2048 1,475 1,538
Deutsche Telekom International Finance BV 1.95% 20212 250 242
Deutsche Telekom International Finance BV 2.485% 20232 1,175 1,126
Deutsche Telekom International Finance BV 4.375% 20282 2,328 2,359
Fox Corp. 4.03% 20242 85 87
Fox Corp. 4.709% 20292 2,560 2,659

 

American Funds Corporate Bond Fund — Page 7 of 15

 

 

 

unaudited

 

 

Bonds, notes & other debt instruments (continued)
Corporate bonds & notes (continued)
Communication services (continued)		 Principal amount
(000)		 Value
(000)
Fox Corp. 5.576% 20492 $465 $493
NBCUniversal Enterprise, Inc. 5.25% 20492 475 483
Verizon Communications Inc. 4.016% 20292 2,100 2,102
Verizon Communications Inc. 4.862% 2046 600 618
Vodafone Group PLC 3.75% 2024 1,000 997
Vodafone Group PLC 4.375% 2028 1,488 1,476
Vodafone Group PLC 5.25% 2048 2,700 2,582
WPP Finance 2010 3.75% 2024 200 193
    33,705
Consumer discretionary 5.14%    
Amazon.com, Inc. 3.15% 2027 450 444
Amazon.com, Inc. 4.05% 2047 165 166
American Honda Finance Corp. 1.65% 2021 200 194
American Honda Finance Corp. 2.60% 2022 100 98
American Honda Finance Corp. 3.50% 2028 200 200
Bayerische Motoren Werke AG 2.15% 20202 100 99
Bayerische Motoren Werke AG 1.85% 20212 100 97
Bayerische Motoren Werke AG 2.00% 20212 400 392
Bayerische Motoren Werke AG 3.45% 20232 200 201
DaimlerChrysler North America Holding Corp. 2.25% 20202 425 422
DaimlerChrysler North America Holding Corp. 2.45% 20202 725 718
DaimlerChrysler North America Holding Corp. 2.70% 20202 1,250 1,240
DaimlerChrysler North America Holding Corp. 3.35% 20232 1,200 1,193
DaimlerChrysler North America Holding Corp. 3.65% 20242 1,825 1,818
DaimlerChrysler North America Holding Corp. 3.50% 20252 300 292
Ford Motor Credit Co. 3.664% 2024 768 698
Ford Motor Credit Co. 4.687% 2025 827 782
General Motors Co. 6.60% 2036 45 47
General Motors Co. 6.75% 2046 305 314
General Motors Co. 5.40% 2048 1,025 919
General Motors Co. 5.95% 2049 905 863
General Motors Financial Co. 3.55% 2021 200 200
General Motors Financial Co. 3.50% 2024 690 651
Home Depot, Inc. 3.90% 2028 125 130
Home Depot, Inc. 4.50% 2048 1,104 1,168
Hyundai Capital America 2.55% 20202 1,150 1,139
Hyundai Capital America 3.25% 20222 150 147
McDonald’s Corp. 4.45% 2047 950 928
McDonald’s Corp. 4.45% 2048 475 463
Morongo Band of Mission Indians 7.00% 20392 1,100 1,129
Newell Rubbermaid Inc. 2.60% 2019 10 10
Sands China Ltd. 5.40% 2028 1,800 1,831
Starbucks Corp. 3.10% 2023 600 599
Starbucks Corp. 3.80% 2025 2,835 2,878
Starbucks Corp. 4.00% 2028 615 625
Starbucks Corp. 3.75% 2047 200 172
Starbucks Corp. 4.50% 2048 685 662
Toyota Motor Credit Corp. 2.15% 2022 200 196
Toyota Motor Credit Corp. 2.70% 2023 1,025 1,011
Toyota Motor Credit Corp. 3.20% 2027 340 338
Toyota Motor Credit Corp. 3.05% 2028 384 376

 

American Funds Corporate Bond Fund — Page 8 of 15

 

 

 

unaudited

 

 

Bonds, notes & other debt instruments (continued)
Corporate bonds & notes (continued)
Consumer discretionary (continued)		 Principal amount
(000)		 Value
(000)
Volkswagen Group of America Finance, LLC 4.25% 20232 $950 $968
Volkswagen Group of America Finance, LLC 4.75% 20282 1,575 1,566
    28,384
Industrials 4.66%    
3M Co. 2.25% 2023 1,616 1,579
3M Co. 3.25% 2024 2,120 2,153
3M Co. 2.25% 2026 80 75
Continental Airlines, Inc., Series 2000-2, Class A1, 7.707% 20225 30 31
CSX Corp. 3.80% 2028 2,500 2,493
CSX Corp. 4.25% 2029 1,285 1,323
CSX Corp. 4.75% 2048 270 280
CSX Corp. 4.50% 2049 245 243
ERAC USA Finance Co. 2.70% 20232 1,750 1,670
GE Capital International Funding Co. 4.418% 2035 250 226
General Dynamics Corp. 3.75% 2028 1,100 1,128
General Electric Capital Corp. 3.373% 2025 750 722
Lockheed Martin Corp. 2.50% 2020 83 82
Lockheed Martin Corp. 3.10% 2023 135 135
Lockheed Martin Corp. 4.50% 2036 10 11
Lockheed Martin Corp. 4.70% 2046 150 162
Northrop Grumman Corp. 2.55% 2022 720 708
Northrop Grumman Corp. 3.25% 2028 800 767
Rockwell Collins, Inc. 2.80% 2022 390 385
Roper Technologies, Inc. 2.80% 2021 25 25
Siemens AG 2.70% 20222 250 247
Siemens AG 2.00% 20232 500 475
Siemens AG 3.125% 20242 600 596
Siemens AG 2.35% 20262 990 913
Union Pacific Corp. 3.95% 2028 350 358
Union Pacific Corp. 3.70% 2029 1,620 1,618
Union Pacific Corp. 4.50% 2048 635 639
Union Pacific Corp. 4.30% 2049 510 499
United Technologies Corp. 3.65% 2023 700 710
United Technologies Corp. 3.95% 2025 285 291
United Technologies Corp. 3.125% 2027 275 262
United Technologies Corp. 4.125% 2028 2,100 2,135
Westinghouse Air Brake Technologies Corp. 4.15% 2024 2,769 2,767
    25,708
Real estate 2.73%    
Alexandria Real Estate Equities, Inc. 3.95% 2028 35 34
American Campus Communities, Inc. 3.35% 2020 110 110
American Campus Communities, Inc. 3.75% 2023 1,350 1,349
American Campus Communities, Inc. 4.125% 2024 200 202
American Campus Communities, Inc. 3.625% 2027 1,890 1,798
Essex Portfolio LP 3.625% 2022 200 202
Essex Portfolio LP 3.50% 2025 70 69
Essex Portfolio LP 3.375% 2026 200 194
Essex Portfolio LP 4.00% 2029 1,740 1,735
Kimco Realty Corp. 3.40% 2022 1,525 1,521
Kimco Realty Corp. 3.30% 2025 1,000 973
Kimco Realty Corp. 4.125% 2046 265 235
Scentre Group 2.375% 20212 130 127

 

American Funds Corporate Bond Fund — Page 9 of 15

 

 

 

unaudited

 

 

Bonds, notes & other debt instruments (continued)
Corporate bonds & notes (continued)
Real estate (continued)		 Principal amount
(000)		 Value
(000)
Scentre Group 3.50% 20252 $450 $443
Scentre Group 3.75% 20272 1,175 1,150
WEA Finance LLC 3.25% 20202 390 391
Westfield Corp. Ltd. 3.15% 20222 4,585 4,550
    15,083
Information technology 2.28%    
Apple Inc. 2.10% 2022 170 166
Apple Inc. 2.30% 2022 250 246
Apple Inc. 2.90% 2027 375 362
Apple Inc. 3.00% 2027 500 487
Apple Inc. 3.20% 2027 800 791
Apple Inc. 3.35% 2027 370 370
Broadcom Ltd. 3.00% 2022 1,025 1,007
Broadcom Ltd. 3.625% 2024 575 559
Broadcom Ltd. 3.875% 2027 2,665 2,471
Broadcom Ltd. 3.50% 2028 2,814 2,494
Microsoft Corp. 1.55% 2021 800 780
Microsoft Corp. 2.40% 2022 250 248
Microsoft Corp. 3.30% 2027 455 458
Microsoft Corp. 4.25% 2047 150 160
Oracle Corp. 1.90% 2021 800 782
Visa Inc. 2.15% 2022 1,250 1,226
    12,607
Materials 1.83%    
Chevron Phillips Chemical Co. LLC 3.30% 20232 390 389
Dow Chemical Co. 4.125% 2021 100 102
Dow Chemical Co. 4.80% 20282 1,400 1,455
Dow Chemical Co. 4.625% 2044 100 93
Dow Chemical Co. 5.55% 20482 290 306
DowDuPont Inc. 4.205% 2023 500 517
DowDuPont Inc. 4.725% 2028 1,965 2,055
DowDuPont Inc. 5.419% 2048 1,190 1,279
LYB International Finance BV 4.875% 2044 100 94
LyondellBasell Industries NV 6.00% 2021 200 212
Praxair, Inc. 3.00% 2021 100 100
Sherwin-Williams Co. 2.75% 2022 450 443
Sherwin-Williams Co. 3.125% 2024 600 584
Sherwin-Williams Co. 3.45% 2027 1,740 1,659
Sherwin-Williams Co. 4.50% 2047 195 182
Westlake Chemical Corp. 5.00% 2046 430 401
Westlake Chemical Corp. 4.375% 2047 260 220
    10,091
Total corporate bonds & notes   468,290
U.S. Treasury bonds & notes 6.95%
U.S. Treasury 6.15%		    
U.S. Treasury 2.625% 2021 278 279
U.S. Treasury 2.625% 2021 258 259
U.S. Treasury 2.50% 2022 1,977 1,977
U.S. Treasury 2.625% 2023 2,640 2,652
U.S. Treasury 2.875% 2023 4,500 4,574

 

American Funds Corporate Bond Fund — Page 10 of 15

 

 

 

unaudited

 

 

Bonds, notes & other debt instruments (continued)
U.S. Treasury bonds & notes (continued)
U.S. Treasury (continued)		 Principal amount
(000)		 Value
(000)
U.S. Treasury 2.50% 20246 $15,947 $15,938
U.S. Treasury 2.625% 2025 770 771
U.S. Treasury 2.875% 2028 180 182
U.S. Treasury 2.625% 2029 3,670 3,640
U.S. Treasury 3.125% 2048 88 88
U.S. Treasury 3.375% 2048 3,401 3,597
    33,957
U.S. Treasury inflation-protected securities 0.80%    
U.S. Treasury Inflation-Protected Security 0.625% 20237 4,431 4,426
Total U.S. Treasury bonds & notes   38,383
Bonds & notes of governments & government agencies outside the U.S. 0.68%    
PT Indonesia Asahan Aluminium Tbk 6.757% 20482 1,000 1,090
Saudi Arabia (Kingdom of) 4.375% 20292 875 894
Saudi Arabia (Kingdom of) 5.00% 20492 650 662
United Mexican States 4.15% 2027 1,150 1,137
    3,783
Municipals 0.25%
Illinois 0.18%		    
G.O. Bonds, Pension Funding Series 2003, 5.10% 2033 1,025 974
South Carolina 0.07%    
Public Service Auth., Rev. Obligations (Santee Cooper), Series 2015-E, 5.25% 2055 350 383
Total municipals   1,357
Asset-backed obligations 0.01%    
Verizon Owner Trust, Series 2016-1A, Class A, 1.42% 20212,8 33 33
Total bonds, notes & other debt instruments (cost: $511,415,000)   511,846
Short-term securities 7.00%    
Bank of New York Co., Inc. 2.38% due 3/1/2019 13,650 13,649
Eli Lilly and Co. 2.41% due 3/12/20192 10,000 9,992
General Dynamics Corp. 2.43% due 3/27/20192 5,000 4,991
New York Life Capital Corp. 2.43% due 3/15/20192 10,000 9,990
Total short-term securities (cost: $38,624,000)   38,622
Total investment securities 99.74% (cost: $550,039,000)   550,468
Other assets less liabilities 0.26%   1,445
Net assets 100.00%   $551,913

 

American Funds Corporate Bond Fund — Page 11 of 15

 

 

 

unaudited

 

Futures contracts

 

Contracts Type Number of
contracts		 Expiration Notional
amount9
(000)		 Value at
2/28/201910
(000)		 Unrealized
(depreciation)
appreciation
at 2/28/2019
(000)
5 Year U.S. Treasury Note Futures Long 23 July 2019 $2,300 $2,635 $(5)
10 Year Ultra U.S. Treasury Note Futures Short 66 June 2019 (6,600) (8,544) 41
30 Year Ultra U.S. Treasury Bond Futures Long 18 June 2019 1,800 2,873 (36)
            $—11

Swap contracts

Interest rate swaps

 

Receive Pay Expiration
date		 Notional
(000)		 Value at
2/28/2019
(000)		 Upfront
payments/
receipts
(000)		 Unrealized
depreciation
at 2/28/2019
(000)
2.5555% 3-month USD-LIBOR 1/8/2024 $8,010 $(3) $— $(3)

 

1 Step bond; coupon rate may change at a later date.
2 Acquired in a transaction exempt from registration under Rule 144A or Section 4(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 $151,508,000, which represented 27.45% of the net assets of the fund.
3 Coupon rate may change periodically.
4 Scheduled interest and/or principal payment was not received.
5 Valued under fair value procedures adopted by authority of the board of trustees. The total value of the security was $31,000, which represented .01% of the net assets of the fund.
6 All or a portion of this security was pledged as collateral. The total value of pledged collateral was $232,000, which represented .04% of the net assets of the fund.
7 Index-linked bond whose principal amount moves with a government price index.
8 Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.
9 Notional amount is calculated based on the number of contracts and notional contract size.
10 Value is calculated based on the notional amount and current market price.
11 Amount less than one thousand.

 

American Funds Corporate Bond Fund — Page 12 of 15

 

 

 

unaudited

 

Valuation disclosures

Capital Research and Management Company (“CRMC”), the fund’s investment adviser, values the fund’s investments at fair value as defined by accounting principles generally accepted in the United States of America. The net asset value of each share class of the fund is generally determined as of approximately 4:00 p.m. New York time each day the New York Stock Exchange is open. Security transactions are recorded by the fund as of the date the trades are executed with brokers.

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.

Fixed-income securities, including short-term securities, are generally valued at prices obtained from one or more 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; 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

When the fund’s investment adviser deems it appropriate to do so (such as when vendor prices are unavailable or deemed to be not representative), fixed-income securities will be valued in good faith at the mean quoted bid and ask prices that are reasonably and timely available (or bid prices, if ask prices are not available) or at prices for securities of comparable maturity, quality and type.

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. The average month-end notional amount of futures contracts while held was $9,400,000. Interest rate swaps are generally valued by pricing vendors based on market inputs that include the index and term of index, reset frequency, payer/receiver, currency and pay frequency. The average month-end notional amount of interest rate swaps was $2,918,000.

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 authority of the fund’s 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; 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 and 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 delegated authority to 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 “Fair Valuation Committee”) to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Fair Valuation Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation teams. The Fair Valuation Committee reviews

 

American Funds Corporate Bond Fund — Page 13 of 15

 

 

 

unaudited

 

changes in fair value measurements from period to period and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. The Fair Valuation Committee reports any 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.

The fund’s investment adviser has also established a Fixed-Income Pricing Review Group to administer and oversee the fixed-income valuation process, including the use of fixed-income pricing vendors. This group regularly reviews pricing vendor information and market data. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews, including an annual control self-evaluation program facilitated by the investment adviser’s compliance group.

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 February 28, 2019 (dollars in thousands):

 

  Investment securities
  Level 1 Level 2 Level 3 Total
Assets:        
Bonds, notes & other debt instruments:        
Corporate bonds & notes $— $468,290 $— $468,290
U.S. Treasury bonds & notes — 38,383 — 38,383
Bonds & notes of governments & government agencies outside the U.S. — 3,783 — 3,783
Municipals — 1,357 — 1,357
Asset-backed obligations — 33 — 33
Short-term securities — 38,622 — 38,622
Total $— $550,468 $— $550,468

 

  Other investments*
  Level 1 Level 2 Level 3 Total
Assets:        
Unrealized appreciation on futures contracts $41 $— $— $41
Liabilities:        
Unrealized depreciation on futures contracts (41) — — (41)
Unrealized depreciation on interest rate swaps — (3) — (3)
Total $—† $(3) $— $(3)

 

* Futures contracts and interest rate swaps are not included in the investment portfolio.
† Amount less than one thousand.
   

 

Key to abbreviations and symbol
Auth. = Authority
G.O. = General Obligation
LIBOR = London Interbank Offered Rate
Rev. = Revenue
USD/$ = U.S. dollars

 

American Funds Corporate Bond Fund — Page 14 of 15

 

 

 

unaudited

 

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

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 visit the American Funds website at americanfunds.com. Fund shares offered through American Funds Distributors, Inc.

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.

© 2019 Capital Group. All rights reserved.

 

 

MFGEFPX-032-0419O-S66162 American Funds Corporate Bond Fund — Page 15 of 15

 

 

ITEM 2 – Controls and Procedures

 

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.

 

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

 

ITEM 3 – Exhibits

 

The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Section 302 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.

 

  AMERICAN FUNDS CORPORATE BOND FUND
   
  By /s/ Kristine M. Nishiyama
 

Kristine M. Nishiyama, Executive Vice President and

Principal Executive Officer

   
  Date: April 25, 2019

 

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, Executive Vice President and

Principal Executive Officer

 
Date: April 25, 2019

 

 

 

By /s/ Brian C. Janssen

Brian C. Janssen, Treasurer and

Principal Financial Officer

 
Date: April 25, 2019