Capital Group Core Municipal Fund
Investment portfolio
July 31, 2022
unaudited
Bonds, notes & other debt instruments 87.17%
Alabama 2.88% 		  Principal amount
(000) 		Value
(000)
Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2022-B-1, 4.00% 2053 (put 2027) USD3,500 $3,571
Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 6), Series 2021-B, 4.00% 2052 (put 2026) 1,050 1,072
Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 7), Series 2021-C-1, 4.00% 2052 (put 2026) 940 960
Black Belt Energy Gas Dist., Gas Supply Prepay Rev. Bonds (Project No. 4), Series 2019-A, 4.00% 2049 (put 2025) 1,000 1,027
Black Belt Energy Gas Dist., Gas Supply Prepay Rev. Bonds (Project No. 5), Series 2020-A-1,
4.00% 2049 (put 2026) 		825 848
Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2021-A, 4.00% 2051 (put 2023) 1,000 1,029
Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2022-D-1, 4.00% 2052 (put 2027) 1,435 1,492
Federal Aid Highway Fin. Auth., Federal Highway Grant Anticipation Bonds, Series 2012,
5.00% 2023 (preref. 2022) 		100 100
Housing Fin. Auth., Multi Family Housing Rev. Bonds (ECG Monrovia Project), Series 2022-A,
2.00% 2025 (put 2024) 		2,050 2,039
City of Huntsville, Electric Rev. Bonds, Series 2017-A, 5.00% 2022 450 455
City of Huntsville, Electric Rev. Bonds, Series 2017-B, 5.00% 2022 400 405
Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 1), Series 2021-A, 4.00% 2051 (put 2028) 2,460 2,506
Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 2), Series 2021-B-1, 4.00% 2051 (put 2031) 565 571
      16,075
Alaska 0.43%      
Housing Fin. Corp., Collateralized Bonds (Veterans Mortgage Program), Series 2019, 4.00% 2048 775 795
Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2020-A, 3.25% 2044 790 796
Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2016-A, 3.50% 2046 115 116
Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 2028 600 688
      2,395
Arizona 1.20%      
Agricultural Improvement and Power Dist., Electric System Rev. Bonds (Salt River Project), Series 2021-A, 5.00% 2028 295 342
Agricultural Improvement and Power Dist., Electric System Rev. Bonds (Salt River Project), Series 2021-A, 5.00% 2029 370 436
Board of Regents of the Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2027 400 457
Board of Regents of the Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2028 550 638
Board of Regents of the Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2033 80 94
Bullhead City, Excise Taxes Rev. Obligations, Series 2021-2, 1.15% 2027 375 348
Coconino County Pollution Control Corp., Pollution Control Rev. Ref. Bonds, Series 2017-B,
1.65% 2039 (put 2023) 		1,500 1,494
City of Glendale Industrial Dev. Auth., Rev. Ref. Bonds (Midwestern University), Series 2020, 5.00% 2029 1,000 1,162
Industrial Dev. Auth., Education Rev. Bonds (GreatHearts Arizona Projects), Series 2021-A, 5.00% 2029 115 130
Kyrene Elementary School Dist. No. 28, School Improvement Bonds (2010 Project), Series 2013-B,
4.50% 2024 (preref. 2023)1 		55 56
Kyrene Elementary School Dist. No. 28, School Improvement Bonds (2010 Project), Series 2013-B,
4.50% 2025 (preref. 2023)1 		45 46
County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (GreatHearts Arizona Projects), Series 2017-A, 5.00% 2027 745 827
Capital Group Core Municipal Fund — Page 1 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Arizona (continued) 		  Principal amount
(000) 		Value
(000)
City of Phoenix Civic Improvement Corp., Water System Rev. Ref. Bonds, Series 2014-B, 5.00% 2024 USD115 $122
County of Pima, Industrial Dev. Auth., Rev. Bonds (Tucson Medical Center), Series 2021-A, 5.00% 2031 485 557
      6,709
California 3.44%      
Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2021-C,
(SIFMA Municipal Swap Index + 0.45%) 1.78% 2056 (put 2026)2 		425 417
Trustees of the California State University, Systemwide Rev. Bonds, Series 2017-A, 5.00% 2026 380 430
Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-A, 5.00% 2027 365 408
Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-B-2, 0.55% 2049 (put 2026) 195 183
Carlsbad Unified School Dist., G.O. Bonds, 2018 Election, Series 2021-B, 2.00% 2023 75 75
Carlsbad Unified School Dist., G.O. Bonds, 2018 Election, Series 2021-B, 2.00% 2024 85 85
Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 4.00% 2052 (put 2031) 2,415 2,489
Educational Facs. Auth., Rev. Bonds (University of Southern California), Series 2009-C,
5.25% 2024 (escrowed to maturity) 		35 38
Fresno Unified School Dist., G.O. Bonds, 2016 Election, Series 2021-D, 2.00% 2024 50 50
G.O. Bonds, Series 2021, 5.00% 2031 30 33
G.O. Bonds, Series 2021, 5.00% 2032 25 28
G.O. Bonds, Series 2021, 5.00% 2034 25 27
G.O. Rev. Ref. Bonds, Series 2021, 5.00% 2030 55 67
Health Facs. Fncg. Auth., Rev. Bonds (Kaiser Permanente), Series 2017-B, 5.00% 2029 (put 2022) 1,000 1,008
Health Facs. Fncg. Auth., Rev. Ref. Bonds (Marshall Medical Center), Series 2015, 5.00% 2028 315 336
Housing Fin. Agcy., Municipal Certs., Series 2021-A-1, 3.50% 2035 731 707
Housing Fin. Agcy., Municipal Certs., Series 2021-A-3, 3.25% 2036 465 440
Infrastructure and Econ. Dev. Bank, Rev. Ref. Bonds (Los Angeles County Museum of Art Project),
Series 2021-B, 2.029% 2050 (put 2026)2 		340 336
Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-A, BAM insured,
5.00% 2025 		250 269
City of Jurupa, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2020-A, BAM insured, 5.00% 2024 85 90
City of Jurupa, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2020-A, BAM insured, 4.00% 2026 60 65
City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Bonds, Series 2022-E, 5.00% 2030 250 296
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-B, 5.00% 2032 180 222
County of Los Angeles, Dev. Auth., Multi Family Housing Mortgage Rev. Bonds (Long Beach Senior Housing),
Series 2022, 2.00% 2026 (put 2025) 		1,550 1,506
County of Los Angeles, Dev. Auth., Multi Family Housing Rev. Bonds (Cantamar Villas), Series 2021-D-1, 0.30% 2025 (put 2024) 55 53
County of Los Angeles, Dev. Auth., Multi Family Housing Rev. Bonds (Sunny Garden Apartments),
Series 2021-C-1, 0.20% 2024 (put 2023) 		75 75
County of Los Angeles, Metropolitan Transportation Auth., Measure R Sales Tax Rev. Bonds, Series 2016-A, 5.00% 2023 50 52
County of Los Angeles, Metropolitan Transportation Auth., Measure R Sales Tax Rev. Bonds, Series 2021-A, 5.00% 2032 960 1,174
Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2020-C, 5.00% 2025 640 700
Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2020-C, 5.00% 2029 150 178
Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2022-B-2, 2.125% 2026 15 14
Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 2022 1,250 1,253
Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-A, 4.00% 2024 45 46
Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-A, 4.00% 2025 45 47
Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-A, 4.00% 2026 45 47
Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-A, 4.00% 2027 45 47
Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-A, 4.00% 2028 40 42
Capital Group Core Municipal Fund — Page 2 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
RNR School Fncg. Auth., Community Facs. Dist. No. 92-1, Special Tax Bonds, Series 2017-A, BAM insured, 5.00% 2028 USD1,000 $1,114
City of San Diego, Community Facs. Dist. No. 2 (Santaluz), Improvement Area No. 1, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 2029 70 76
County of San Diego, Water Auth., Water Rev. Ref. Green Bonds, Series 2021-B, 5.00% 2030 230 275
City and County of San Francisco, G.O. Rev. Ref. Bonds, Series 2020-R-2, 5.00% 2023 480 495
City of Santee, Community Facs. Dist. No. 2017-1, Special Tax Bonds (Weston Infrastructure), Series 2019,
5.00% 2022 		135 135
City of Santee, Community Facs. Dist. No. 2017-1, Special Tax Bonds (Weston Infrastructure), Series 2019,
5.00% 2023 		160 165
City of Santee, Community Facs. Dist. No. 2017-1, Special Tax Bonds (Weston Infrastructure), Series 2019,
5.00% 2024 		170 179
Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project),
Series 2021-1, 5.00% 2023 		65 67
Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project),
Series 2021-1, 5.00% 2024 		20 21
Southern California Public Power Auth., Transmission Project Rev. Bonds (Southern Transmission Project),
Series 2017-A, 5.00% 2023 		490 505
Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Villa Del Sol Apartments), Series 2021-A-2, 0.39% 2023 (put 2023) 280 277
Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Washington Court Apartments),
Series 2021-E, 0.22% 2023 (put 2022) 		125 125
Statewide Communities Dev. Auth., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.),
Series 2006-D, 2.625% 2033 (put 2023) 		135 135
Statewide Communities Dev. Auth., Rev. Bonds (American Baptist Homes of the West), Series 2013-A,
5.00% 2023 (escrowed to maturity) 		80 82
Statewide Communities Dev. Auth., Rev. Bonds (Viamonte Senior Living 1 Project), Series 2018-B, 3.00% 2026 500 501
Tobacco Securitization Auth. of Southern California, Tobacco Settlement Asset-Backed Rev. Ref. Bonds
(San Diego County Tobacco Asset Securitization Corp.), Series 2019-A, 5.00% 2030 		180 200
Regents of the University of California, Limited Project Rev. Bonds, Series 2022-S, 5.00% 2026 165 185
Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2019-CS, 4.00% 2049 710 728
Dept. of Water Resources, Water System Rev. Bonds (Central Valley Project), Series 2016-AW,
5.00% 2033 (preref. 2026) 		255 290
Dept. of Water Resources, Water System Rev. Bonds (Central Valley Project), Series 2017-AX,
5.00% 2033 (preref. 2027) 		230 268
      19,156
Colorado 1.82%      
City of Arvada, Mountain Shadows Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds,
Series 2016, 4.00% 2026 		603 601
Certs. of Part., Series 2021-A, 5.00% 2028 495 576
Certs. of Part., Series 2021-A, 5.00% 2029 1,000 1,177
Board of Governors of the Colorado State University System, System Enterprise Rev. and Rev. Ref. Bonds,
Series 2016-B, 5.00% 2041 (preref. 2027) 		140 159
City and County of Denver, Airport System Rev. Bonds, Series 2022-B, 5.00% 2032 250 303
City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2019-D, 5.00% 2031 (put 2022) 1,000 1,009
E-470 Public Highway Auth., Rev. Bonds, Series 2021-B, (USD-SOFR x 0.67 + 0.35%) 1.375% 2039 (put 2024)2 285 283
Health Facs. Auth., Hospital Rev. Bonds (Adventist Health System/Sunbelt Obligated Group), Series 2018-A, 5.00% 2048 125 135
Health Facs. Auth., Rev. Bonds (Intermountain Healthcare), Series 2022-A, 5.00% 2031 410 490
Health Facs. Auth., Rev. Bonds (Intermountain Healthcare), Series 2022-A, 5.00% 2032 140 170
Housing and Fin. Auth., Multi Family Housing Rev. Bonds (Wildhorse Ridge Apartments Project), Series 2022,
2.00% 2026 (put 2025) 		1,850 1,833
Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2018-C, Class I, 4.25% 2048 495 511
Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2020-B, Class I, 3.75% 2050 790 807
Capital Group Core Municipal Fund — Page 3 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Colorado (continued) 		  Principal amount
(000) 		Value
(000)
Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-L, Class I, 3.25% 2051 USD1,235 $1,245
Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 5.00% 2029 70 77
Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 5.00% 2029 40 44
Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 5.00% 2030 150 167
Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 5.00% 2030 35 39
Weld County School Dist. RE-5J, G.O. Bonds, Series 2021, 5.00% 2023 475 497
      10,123
Connecticut 0.93%      
Town of East Hartford, Housing Auth., Multi Family Housing Rev. Bonds (Veterans Terrace Project), Series 2021, 0.25% 2023 (put 2022) 140 140
Health and Educational Facs. Auth., Rev. Bonds (Hartford Healthcare Issue), Series 2021-A, 5.00% 2029 330 376
Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2003-X-2, 0.25% 2037 (put 2024) 910 886
Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2014-A, 1.10% 2048 (put 2023) 1,105 1,099
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2014-C-1, 4.00% 2044 45 46
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2016-A-1, 4.00% 2045 165 167
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-A-1, 4.00% 2047 1,440 1,470
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-C-1, 4.00% 2047 540 552
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-D-1, 4.00% 2047 110 112
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2022-A-1, 3.50% 2051 290 295
Housing Fin. Auth., Housing Mortgage Fin. Program Rev. Ref. Bonds, Series 2015-A, 3.50% 2044 40 40
      5,183
Delaware 0.11%      
County of Harris, Metropolitan Transportation Auth., Sales and Use Tax Contractual Obligations, Series 2015-B, 5.00% 2025 85 93
Health Facs. Auth., Rev. Bonds (Beebe Medical Center Project), Series 2018, 5.00% 2023 200 205
Health Facs. Auth., Rev. Bonds (Beebe Medical Center Project), Series 2018, 5.00% 2024 300 315
      613
District of Columbia 0.88%      
G.O. Rev. Ref. Bonds, Series 2021-E, 5.00% 2029 230 271
G.O. Rev. Ref. Bonds, Series 2021-E, 5.00% 2030 960 1,152
Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Kenilworth 166 Apartments Project),
Series 2021, 1.25% 2025 (put 2024) 		410 399
Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Parcel 42 Project), Series 2022,
1.70% 2041 (put 2025) 		500 490
Income Tax Secured Rev. Bonds, Series 2020-A, 5.00% 2032 750 893
Income Tax Secured Rev. Bonds, Series 2022-A, 5.00% 2032 525 652
Income Tax Secured Rev. Bonds, Series 2020-C, 5.00% 2033 215 254
Rev. Ref. Bonds (National Public Radio, Inc. Issue), Series 2016, 5.00% 2028 (preref. 2028) 50 56
Rev. Ref. Bonds (National Public Radio, Inc. Issue), Series 2016, 5.00% 2029 (preref. 2029) 50 56
Washington Convention and Sports Auth., Dedicated Tax Rev. Ref. Bonds, Series 2018-A, 5.00% 2027 600 687
      4,910
Florida 6.58%      
County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds
(Oak Hammock at the University of Florida, Inc. Project), Series 2021, 4.00% 2022 		20 20
County of Brevard, Health Facs. Auth., Rev. Ref. Bonds (Health First, Inc. Project), Series 2014, 5.00% 2033 130 136
County of Brevard, Housing Fncg. Auth., Multi Family Mortgage Rev. Bonds (Tropical Manor Apartments),
Series 2021, 0.25% 2023 (put 2022) 		135 134
Capital Group Core Municipal Fund — Page 4 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Florida (continued) 		  Principal amount
(000) 		Value
(000)
County of Broward, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Solaris Apartments), Series 2021-B, 0.70% 2025 (put 2024) USD370 $357
Central Florida Expressway Auth., Rev. Bonds, Series 2019-B, 5.00% 2030 1,000 1,167
City of Daytona Beach, Housing Auth., Multi Family Housing Rev. Bonds (The WM at the River Project),
Series 2021-B, 1.25% 2025 (put 2024) 		605 582
Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2033 1,115 1,191
Board of Education, Public Education Capital Outlay Rev. Ref. Bonds, Series 2019-D, 5.00% 2023 120 123
Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2016-B, 5.00% 2028 750 834
Higher Educational Facs. Fncg. Auth., Educational Facs. Rev. Ref. Bonds (Nova Southeastern University Project),
Series 2016, 5.00% 2026 		655 712
Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2017-1, 4.00% 2048 840 856
Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-1, 4.00% 2049 860 880
Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-2, 4.25% 2050 875 901
Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2020-1, 3.50% 2051 145 147
Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2021-2, 3.00% 2052 2,190 2,185
Housing Fin. Corp., Homeowner Mortgage Rev. Bonds (Special Program), Series 2015-A, 3.50% 2046 20 20
Housing Fin. Corp., Multi Family Mortgage Rev. Bonds (The Canopy at West River Towers 1 & 2), Series 2022-A-2, 3.25% 2026 (put 2025) 519 531
Housing Fin. Corp., Multi Family Mortgage Rev. Bonds (Valencia Park Apartments), Series 2021-A, FHA insured, 0.25% 2023 (put 2022) 630 625
JEA, Electric System Rev. Bonds, Series 2014-A-3, 5.00% 2022 600 603
JEA, Electric System Rev. Bonds, Series 2017-B, 5.00% 2026 500 557
JEA, Electric System Rev. Bonds, Series 2017-B-3, 5.00% 2026 340 381
JEA, Electric System Rev. Bonds, Series 2020-A-3, 5.00% 2030 50 58
JEA, Electric System Rev. Bonds, Series 2021-A, 5.00% 2031 2,095 2,462
JEA, Electric System Rev. Bonds, Series 2021-A-3, 5.00% 2033 625 736
JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 5.00% 2033 50 58
County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019,
BAM insured, 2.50% 2024 		280 282
County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019,
BAM insured, 2.50% 2025 		285 288
County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019,
BAM insured, 2.50% 2026 		295 298
County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019,
BAM insured, 2.50% 2027 		300 303
County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019,
BAM insured, 2.50% 2028 		305 307
County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019,
BAM insured, 2.625% 2029 		315 317
County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2020-A, 5.00% 2025 1,150 1,253
County of Miami-Dade, Expressway Auth., Toll System Rev. Bonds, Series 2014-A, BAM insured, 5.00% 2026 780 825
County of Miami-Dade, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Platform 3750), Series 2021, 0.25% 2024 (put 2023) 510 500
County of Miami-Dade, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Sunset Bay Apartments),
Series 2021, 0.25% 2023 (put 2022) 		420 417
County of Miami-Dade, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds
(Waste Management, Inc. of Florida Project), Series 2007, 0.32% 2027 (put 2022) 		2,205 2,199
City of Miami Beach, Health Facs. Auth., Hospital Rev. and Rev. Ref. Bonds
(Mount Sinai Medical Center of Florida), Series 2014, 5.00% 2027 		145 152
County of Orange, Health Facs. Auth., Health Care Facs. Rev. Ref. Bonds
(Presbyterian Retirement Communities Project), Series 2016, 5.00% 2031 		300 317
County of Orange, Health Facs. Auth., Rev. Bonds
(Presbyterian Retirement Communities Obligated Group Project), Series 2023-A, 5.00% 2029 		320 341
County of Orange, Health Facs. Auth., Rev. Bonds
(Presbyterian Retirement Communities Obligated Group Project), Series 2023-A, 5.00% 2031 		500 533
Capital Group Core Municipal Fund — Page 5 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Florida (continued) 		  Principal amount
(000) 		Value
(000)
County of Orange, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Dunwoodie Place Apartments),
Series 2021-A, 0.20% 2024 (put 2023) 		USD200 $193
County of Orange, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Jernigan Gardens), Series 2020-B, 0.35% 2023 (put 2022) 2,000 1,991
County of Orange, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Stratford Point Apartments),
Series 2021-B, 0.55% 2025 (put 2024) 		635 611
Orlando Utilities Commission, Utility System Rev. Ref. Bonds, Series 2021-B, 1.25% 2046 (put 2028) 1,000 866
County of Palm Beach, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Christian Manor), Series 2022, 1.25% 2025 (put 2024) 2,875 2,781
County of Pasco, Connerton West Community Dev. Dist., Improvement Rev. Ref. Bonds, Series 2018-A-1,
Assured Guaranty Municipal insured, 3.00% 2026 		345 354
County of Pasco, Connerton West Community Dev. Dist., Improvement Rev. Ref. Bonds, Series 2018-A-1,
Assured Guaranty Municipal insured, 3.20% 2027 		355 372
County of Pasco, Connerton West Community Dev. Dist., Improvement Rev. Ref. Bonds, Series 2018-A-1,
Assured Guaranty Municipal insured, 3.25% 2028 		370 387
County of Pinellas, Housing Fin. Auth., Multi Family Mortgage Backed Bonds (Jordan Park Apartments),
Series 2021-B, 0.65% 2025 (put 2024) 		525 506
County of Polk, Utility System Rev. and Rev. Ref. Bonds, Series 2013, BAM insured, 5.00% 2043 (preref. 2023) 185 191
City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2015, 5.00% 2023 630 644
Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2018-A-1,
Assured Guaranty Municipal insured, 2.625% 2024 		1,055 1,064
City of South Miami, Health Facs. Auth., Hospital Rev. Ref. Bonds (Baptist Health South Florida Obligated Group), Series 2017, 5.00% 2024 500 529
City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 2028 215 241
City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 2029 250 283
City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 2030 260 296
Dept. of Transportation Fncg. Corp., Rev. Bonds, Series 2020, 5.00% 2024 430 458
City of Winter Garden, Winter Garden Village at Fowler Groves Community Dev. Dist.,
Special Assessment Rev. Ref. Bonds, Series 2016, 3.00% 2024 		325 325
      36,680
Georgia 3.07%      
County of Appling, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Scherer Project),
Series 2013-A, 1.50% 2038 (put 2025) 		885 858
City of Atlanta, Urban Residential Fin. Auth., Multi Family Housing Rev. Bonds
(Sylvan Hills Senior Apartments Project), Series 2020, 0.41% 2025 (put 2023) 		285 277
County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Vogtle Project),
Series 1995-5, 2.20% 2032 		500 475
County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Vogtle Project),
Series 2013, 2.925% 2053 (put 2024) 		600 601
County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Vogtle Project),
Series 2013-A, 1.50% 2040 (put 2025) 		685 664
City of Columbus, Dev. Auth., Multi Family Housing Rev. Bonds (Highland Terrance Phase II Project),
Series 2021-B, 0.34% 2025 (put 2024) 		425 410
County of Dawson, Dev. Auth., Multi Family Housing Rev. Bonds (Peaks of Dawsonville Project), Series 2021, 0.28% 2023 250 245
County of Dekalb, Housing Auth., Multi Family Housing Rev. Bonds (Columbia Village Project), Series 2021-A, 0.34% 2024 (put 2023) 140 137
Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2014-A-1, 4.00% 2044 155 157
Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2015-A-1, 3.50% 2045 125 126
City of Lawrenceville, Housing Auth., Multi Family Housing Rev. Bonds (Hearthside Lawrenceville Project),
Series 2022, 2.25% 2025 (put 2024) 		1,565 1,561
Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2018-D,
(3-month USD-LIBOR x 0.67 + 0.83%) 1.978% 2048 (put 2023)2 		155 153
Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2019-B, 4.00% 2049 (put 2024) 980 1,020
Capital Group Core Municipal Fund — Page 6 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Georgia (continued) 		  Principal amount
(000) 		Value
(000)
Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2019-C, 4.00% 2050 (put 2026) USD1,500 $1,534
Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2021-C, 4.00% 2052 (put 2028) 2,305 2,353
Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2021-A, 4.00% 2052 (put 2027) 1,000 1,038
Municipal Electric Auth., General Resolution Projects Bonds, Series 2021-A, 5.00% 2031 415 476
Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2021-A,
Assured Guaranty Municipal insured, 5.00% 2029 		495 560
Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2021-A,
Assured Guaranty Municipal insured, 5.00% 2030 		430 491
Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2019-A, 5.00% 2029 120 135
Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2019-A, 5.00% 2030 115 128
Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 2024 1,000 1,042
Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 2029 870 985
Municipal Electric Auth., Project One Bonds, Series 2021-A, 5.00% 2031 785 901
Northwest Georgia Housing Auth., Multi Family Housing Rev. Bonds (Dallas Manor Apartments Project),
Series 2021, 0.25% 2024 (put 2023) 		120 117
City of Valdosta, Housing Auth., Multi Family Housing Rev. Bonds (TISHCO Rural Rental Housing Portfolio Project), Series 2022, 1.25% 2025 (put 2024) 185 182
County of Walker, Dev. Auth., Multi Family Housing Rev. Bonds (Gateway at Rossville Project), Series 2021-B, 0.46% 2024 (put 2023) 465 453
      17,079
Guam 0.08%      
Waterworks Auth., Water and Wastewater System Rev. Bonds, Series 2013, 5.25% 2024 450 461
Hawaii 0.42%      
Airports System Rev. Bonds, Series 2018-D, 5.00% 2030 1,000 1,177
Airports System Rev. Bonds, Series 2020-D, 5.00% 2034 1,000 1,145
      2,322
Idaho 0.03%      
Health Facs. Auth., Rev. Bonds (St. Luke’s Health System Project), Series 2021-A, 5.00% 2031 60 70
Health Facs. Auth., Rev. Bonds (St. Luke’s Health System Project), Series 2021-A, 5.00% 2032 90 105
      175
Illinois 6.33%      
Build Illinois Bonds, Sales Tax Rev. Ref. Bonds, Series 2016-D, 5.00% 2025 475 508
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2018-A,
Assured Guaranty Municipal insured, 5.00% 2023 		1,100 1,143
City of Chicago, Chicago Midway Airport, Rev. and Rev. Ref. Bonds, Series 2014-B, 5.00% 2028 500 518
City of Chicago, G.O. Rev. Ref. Bonds, Series 2020-A, 5.00% 2023 560 566
City of Chicago, Transit Auth., Capital Grant Receipts Rev. Ref. Bonds
(Federal Transit Administration Section 5307 Urbanized Area Formula Funds), Series 2021, 5.00% 2024 		65 69
City of Chicago, Wastewater Transmission Rev. Bonds, Series 2012, Assured Guaranty Municipal insured, 5.00% 2023 500 503
City of Chicago, Wastewater Transmission Rev. Project Bonds, Series 2014, 5.00% 2028 385 399
City of Chicago, Water Rev. Bonds, Series 2004, 5.00% 2023 200 207
City of Chicago, Water Rev. Ref. Bonds, Series 2014, 5.00% 2023 200 207
City of Chicago, Water Rev. Ref. Bonds, Series 2017, 5.00% 2028 355 385
County of Cook, Community College Dist. No. 508 (City Colleges of Chicago), Unlimited Tax G.O. Bonds,
Series 2013, 5.00% 2023 		200 206
Fin. Auth., Academic Fac. Lease Rev. Bonds (Provident Group - UIUC Properties, LLC - University of Illinois at Urbana-Champaign Project), Series 2019-A, 5.00% 2025 110 120
Fin. Auth., Academic Fac. Lease Rev. Bonds (Provident Group - UIUC Properties, LLC - University of Illinois at Urbana-Champaign Project), Series 2019-A, 5.00% 2027 500 568
Capital Group Core Municipal Fund — Page 7 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Illinois (continued) 		  Principal amount
(000) 		Value
(000)
Fin. Auth., Academic Fac. Lease Rev. Bonds (Provident Group - UIUC Properties, LLC - University of Illinois at Urbana-Champaign Project), Series 2019-A, 5.00% 2028 USD400 $460
Fin. Auth., Rev. Bonds (Advocate Health Care Network), Series 2008-A-1, 4.00% 2030 1,000 1,048
Fin. Auth., Rev. Bonds (Art Institute of Chicago), Series 2016, 5.00% 2025 125 135
Fin. Auth., Rev. Bonds (Art Institute of Chicago), Series 2016, 5.00% 2026 120 132
Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 2033 500 552
Fin. Auth., Rev. Bonds (Northshore University Heathsystem), Series 2020-A, 5.00% 2033 280 320
Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 2027 250 270
Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2020-B-2, 5.00% 2050 (put 2026) 105 115
Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 2024 310 322
Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021-B,
(SIFMA Municipal Swap Index + 0.70%) 2.03% 2042 (put 2026)2 		140 135
Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 5.00% 2028 400 450
Fin. Auth., Rev. Bonds (Rush University Medical Center Obligated Group), Series 2015-A, 5.00% 2028 1,000 1,068
Fin. Auth., Rev. Bonds (Rush University Medical Center Obligated Group), Series 2015-A, 5.00% 2029 500 532
Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 5.00% 2029 800 938
Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 5.00% 2030 360 426
Fin. Auth., Rev. Ref. Bonds (Northwestern Memorial Healthcare), Series 2021-A, 5.00% 2033 365 421
Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 2026 770 835
Fin. Auth., Water Facs. Rev. Ref. Bonds (American Water Capital Corp. Project), Series 2020,
0.70% 2040 (put 2023) 		215 211
G.O. Bonds, Series 2022-A, 5.00% 2024 280 293
G.O. Bonds, Series 2020-B, 5.00% 2029 2,090 2,331
G.O. Bonds, Series 2019-A, 5.00% 2029 1,000 1,115
Housing Dev. Auth., Multi Family Housing Rev. Bonds, Series 2021-C, 0.80% 2026 40 38
Housing Dev. Auth., Multi Family Housing Rev. Bonds (Concord Commons), Series 2021, 0.25% 2024 (put 2023) 810 799
Housing Dev. Auth., Multi Family Housing Rev. Bonds (Marshall Field Garden Apartment Homes), Series 2015,
(SIFMA Municipal Swap Index + 1.00%) 2.33% 2050 (put 2025)2 		2,000 2,009
Housing Dev. Auth., Multi Family Housing Rev. Bonds (Terrance Senior), Series 2022, 2.375% 2025 (put 2024) 770 772
Housing Dev. Auth., Rev. Bonds, Series 2019-A, 4.25% 2049 1,125 1,163
Housing Dev. Auth., Rev. Bonds, Series 2021-D, 3.00% 2051 1,620 1,617
Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2017-B, 5.00% 2025 225 238
Municipal Electric Agcy., Power Supply System Rev. Ref. Bonds, Series 2015-A, 5.00% 2027 1,000 1,083
Railsplitter Tobacco Settlement Auth., Tobacco Settlement Rev. Bonds, Series 2017, 5.00% 2023 620 636
Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-C, 5.00% 2025 1,180 1,270
Toll Highway Auth., Toll Highway Rev. Bonds, Series 2015-A, 5.00% 2027 1,250 1,360
Toll Highway Auth., Toll Highway Rev. Bonds, Series 2015-A, 5.00% 2028 1,110 1,204
Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-C, 5.00% 2029 440 513
Toll Highway Auth., Toll Highway Rev. Ref. Bonds, Series 2019-A, 5.00% 2024 500 524
Toll Highway Auth., Toll Highway Rev. Ref. Bonds, Series 2019-A, 5.00% 2025 740 796
Toll Highway Auth., Toll Highway Rev. Ref. Bonds, Series 2019-A, 5.00% 2028 635 727
Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Bonds, Series 2018-A, 5.00% 2025 135 145
Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Bonds, Series 2020-A, 5.00% 2028 1,000 1,136
Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2005-A,
National insured, 5.50% 2023 		500 512
Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2015-A, 5.00% 2026 1,120 1,200
Board of Trustees of the University of Illinois, Rev. Ref. Certs. of Part., Series 2008-A,
Assured Guaranty Municipal insured, 5.25% 2024 		30 30
      35,280
Indiana 1.44%      
Fin. Auth., Health System Rev. Bonds (Indiana University Health), Series 2019-C, 5.00% 2022 140 142
Fin. Auth., Midwestern Disaster Relief Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2012-A, 4.25% 2030 670 689
Fin. Auth., State Revolving Fund Program Green Bonds, Series 2021-B, 5.00% 2028 575 667
Capital Group Core Municipal Fund — Page 8 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Indiana (continued) 		  Principal amount
(000) 		Value
(000)
Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-1, 5.00% 2023 USD275 $285
Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-2, 5.00% 2023 85 88
City of Franklin, Econ. Dev. and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2019-B, 5.00% 2023 30 31
Health Fac. Fncg. Auth., Rev. Bonds (Ascension Health Subordinate Credit Group), Series 2005-A-1, 4.00% 2023 80 82
Housing and Community Dev. Auth., Collateralized Rev. Bonds (RD Moving Forward Biggs Project), Series 2022,
2.00% 2025 (put 2024) 		185 184
Housing and Community Dev. Auth., Collateralized Rev. Bonds (RD Moving Forward Justus Project), Series 2021, 0.33% 2024 (put 2023) 710 697
Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2019-A, 4.25% 2048 1,470 1,517
Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.75% 2049 140 143
Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-B, 3.00% 2050 105 105
Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-C-1, 3.00% 2052 355 353
City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project),
Series 2019-I-2, 5.00% 2026 		340 374
City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project),
Series 2019-I-2, 5.00% 2027 		330 370
City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project),
Series 2019-I-2, 5.00% 2028 		435 497
City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project),
Series 2019-I-2, 5.00% 2029 		265 307
City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project),
Series 2019-I-2, 5.00% 2030 		435 509
City of Kokomo, Multi Family Housing Rev. Bonds (KHA RAD I Apartments), Series 2021-A, 0.56% 2025 (put 2024) 1,030 1,000
      8,040
Iowa 0.64%      
Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2019-A, 4.00% 2047 720 746
Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2019-D, 3.50% 2049 20 20
PEFA, Inc., Gas Project Rev. Bonds, Series 2019, 5.00% 2049 (put 2026) 2,150 2,272
Tobacco Settlement Auth., Tobacco Settlement Asset-Backed Bonds, Series 2021-A-2, 5.00% 2031 320 359
Tobacco Settlement Auth., Tobacco Settlement Asset-Backed Bonds, Series 2021-A-2, 5.00% 2033 135 150
      3,547
Kansas 0.20%      
Turnpike Auth., Rev. Ref. Bonds, Series 2020-A, 3.00% 2025 950 981
Unified Government of Wyandotte County, Board of Public Utilities, Utility System Improvement Rev. Bonds, Series 2012-B, 5.00% 2026 (preref. 2022) 110 110
      1,091
Kentucky 0.99%      
Econ. Dev. Fin. Auth., Health System Rev. Bonds (Norton Healthcare, Inc.), Capital Appreciation Bonds,
Series 2000-B, National insured, 0% 2027 		1,000 859
Housing Corp., Multi Family Housing Rev. Bonds (Cambridge Square Project), Series 2021,
0.30% 2024 (put 2024) 		365 353
Housing Corp., Multi Family Housing Rev. Bonds (Winterwood II Rural Housing Portfolio), Series 2021,
0.37% 2024 (put 2023) 		635 614
County of Owen, Water Facs. Rev. Ref. Bonds (Kentucky - American Water Co. Project), Series 2019,
2.45% 2039 (put 2029) 		750 699
Public Energy Auth., Gas Supply Rev. Bonds, Series 2018-A, 4.00% 2048 (put 2024) 410 418
Public Energy Auth., Gas Supply Rev. Bonds, Series 2019-A-1, 4.00% 2049 (put 2025) 1,180 1,214
Public Energy Auth., Gas Supply Rev. Bonds, Series 2018-B, 4.00% 2049 (put 2025) 185 189
Public Energy Auth., Gas Supply Rev. Bonds, Series 2022-A-1, 4.00% 2052 (put 2030) 855 868
Turnpike Auth., Econ. Dev. Road Rev. Ref. Bonds (Revitalization Projects), Series 2022-A, 5.00% 2031 270 322
      5,536
Capital Group Core Municipal Fund — Page 9 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Louisiana 1.57% 		  Principal amount
(000) 		Value
(000)
Parish of East Baton Rouge, Road and Street Improvement Sales Tax Rev. Ref. Bonds, Series 2020,
Assured Guaranty Municipal insured, 5.00% 2022 		USD85 $85
Parish of East Baton Rouge, Road and Street Improvement Sales Tax Rev. Ref. Bonds, Series 2020,
Assured Guaranty Municipal insured, 5.00% 2026 		1,250 1,385
Parish of East Baton Rouge, Sewerage Commission, Multi Modal Rev. Ref. Bonds, Series 2021-A,
1.30% 2041 (put 2028) 		1,270 1,134
Gasoline and Fuels Tax Rev. Ref. Bonds, Series 2017-D-1, 0.60% 2043 (put 2023) 2,000 1,957
Gasoline and Fuels Tax Rev. Ref. Bonds, Series 2022-A, (USD-SOFR x 0.50 + 0.50%) 1.571% 2043 (put 2026)2 570 549
Grant Anticipation Rev. Bonds, Series 2021, 5.00% 2023 335 348
Housing Corp., Multi Family Housing Rev. Bonds (Arbours at Lafayette Project), Series 2021,
0.35% 2024 (put 2023) 		375 368
Housing Corp., Multi Family Housing Rev. Bonds (Hollywood Acres and Hollywood Heights Projects), Series 2019, 0.55% 2023 750 733
Housing Corp., Multi Family Housing Rev. Bonds (Mabry Place Townhomes Project), Series 2021,
0.31% 2024 (put 2023) 		215 210
Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds
(Entergy Louisiana, LLC Projects), Series 2021-A, 2.00% 2030 		105 94
Offshore Terminal Auth., Deepwater Port Rev. Bonds (Loop, LLC Project), Series 2007-A, 1.65% 2027 (put 2023) 905 899
Parish of St. John the Baptist, Rev. Ref. Bonds (Marathon Oil Corp. Project), Series 2017-B-1,
2.125% 2037 (put 2024) 		285 282
City of Shreveport, Water and Sewer Rev. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 3.00% 2022 115 115
City of Shreveport, Water and Sewer Rev. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 4.00% 2023 105 108
City of Shreveport, Water and Sewer Rev. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 5.00% 2024 80 85
City of Shreveport, Water and Sewer Rev. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 4.00% 2025 145 155
City of Shreveport, Water and Sewer Rev. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 5.00% 2026 140 155
Tobacco Settlement Fncg. Corp., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2013-A, 5.00% 2023 90 92
      8,754
Maine 0.05%      
Housing Auth., Mortgage Purchase Bonds, Series 2017-A, 4.00% 2047 250 255
Maryland 1.26%      
County of Anne Arundel, G.O. Rev. Ref. Water and Sewer Bonds, Series 2022, 5.00% 2026 885 988
Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2014-C, 4.00% 2044 150 152
Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2020-D, 3.25% 2050 565 568
Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-C, 3.00% 2051 783 779
G.O. Rev. Ref. Bonds, State and Local Facs. Loan of 2021, Series 2022-D-2, 4.00% 2029 585 655
County of Montgomery, Housing Opportunities Commission, Single Family Housing Rev. Bonds, Series 2017-A, 4.00% 2048 440 450
County of Montgomery, Housing Opportunities Commission, Single Family Housing Rev. Bonds, Series 2018-A, 4.00% 2049 1,195 1,224
County of Prince George, Certs. of Part. (Behavioral Health Fac. and Capital Equipment), Series 2021, 5.00% 2024 165 177
Dept. of Transportation, Consolidated Transportation Bonds, Series 2018-2, 5.00% 2026 1,000 1,130
Transportation Auth., Transportation Facs. Projects Rev. Bonds, Series 2020, 5.00% 2033 745 873
      6,996
Capital Group Core Municipal Fund — Page 10 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Massachusetts 0.40% 		  Principal amount
(000) 		Value
(000)
Dev. Fin. Agcy., Multi Family Housing Rev. Bonds (Salem Heights II Preservation Associates, LP Issue),
Series 2021-B, 0.25% 2024 (put 2023) 		USD180 $176
Housing Fin. Agcy., Housing Green Bonds, Series 2021-A-2, 0.30% 2023 50 49
Housing Fin. Agcy., Housing Green Bonds, Series 2021-A-2, 0.40% 2024 65 63
Housing Fin. Agcy., Housing Green Bonds, Series 2021-B-2, 0.75% 2025 55 52
Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 169, 4.00% 2044 85 85
Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 172, 4.00% 2045 160 162
Massachusetts Bay Transportation Auth., Sales Tax Green Bond Anticipation Notes, Series 2021, 4.00% 2025 455 482
Transportation Fund Rev. Ref. Bonds, Series 2021-A, 5.00% 2029 1,000 1,179
      2,248
Michigan 2.74%      
Fin. Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2017-A,
5.00% 2047 (preref. 2022) 		5 5
Fin. Auth., Hospital Rev. Ref. Bonds (McLaren Health Care), Series 2015-D-1, 0.25% 2022 40 40
Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept.,
Sewage Disposal System Rev. Ref. Local Project Bonds), Series 2015-C, 5.00% 2027 		250 270
Fin. Auth., Tobacco Settlement Asset-Backed Bonds, Series 2020-A-1, 5.00% 2026 105 113
Fin. Auth., Tobacco Settlement Asset-Backed Bonds, Series 2020-A-1, 5.00% 2029 205 228
Great Lakes Water Auth., Water Supply System Rev. Bonds, Series 2020-B, 5.00% 2032 500 576
Hospital Fin. Auth., Hospital Rev. Ref. Bonds (Trinity Health Credit Group), Series 2008-C, 5.00% 2022 475 480
Housing Dev. Auth., Multi Family Housing Rev. Bonds, Series 2020, 0.32% 2023 (put 2022) 1,000 994
Housing Dev. Auth., Rental Housing Rev. Bonds, Series 2019-A-1, 1.50% 2022 1,195 1,194
Housing Dev. Auth., Rental Housing Rev. Bonds, Series 2021-A, 0.55% 2025 185 177
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.50% 2047 360 364
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2017-B, 3.50% 2048 215 218
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-A, 4.00% 2048 500 512
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-C, 4.25% 2049 1,415 1,460
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2019-A, 4.25% 2049 700 724
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.50% 2050 1,325 1,345
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 2052 2,085 2,079
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-A, 5.00% 2053 1,540 1,669
Board of Trustees of Michigan State University, Rev. Bonds, Series 2019-B, 5.00% 2023 300 306
Board of Trustees of Michigan State University, Rev. Bonds, Series 2019-B, 5.00% 2030 700 810
Strategic Fund, Limited Obligation Rev. Ref. Bonds (Detroit Edison Co. Pollution Control Bonds Project),
Series 1995-CC, 1.45% 2030 		1,630 1,440
Trunk Line Fund Bonds, Series 2021-A, 5.00% 2031 230 278
      15,282
Minnesota 1.53%      
City of Hopkins, Multi Family Housing Rev. Bonds (Raspberry Ridge Project), Series 2021, 0.26% 2024 (put 2023) 535 528
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-B, 4.00% 2038 200 203
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-B, 3.50% 2046 530 536
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2017-B, 4.00% 2047 425 434
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2018-B, 4.00% 2048 340 347
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2017-E, 4.00% 2048 260 266
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2018-E, 4.25% 2049 1,410 1,460
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2019-B, 4.25% 2049 660 685
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-E, 3.50% 2050 245 249
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-B, 3.00% 2051 510 510
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-D, 3.00% 2052 1,170 1,168
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-H, 3.00% 2052 880 878
Capital Group Core Municipal Fund — Page 11 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Minnesota (continued) 		  Principal amount
(000) 		Value
(000)
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2022-A, 3.00% 2052 USD345 $343
Municipal Gas Agcy., Commodity Supply Rev. Bonds, Series 2022-A, 4.00% 2052 (put 2027) 875 910
      8,517
Mississippi 0.44%      
Gaming Tax Rev. Bonds, Series 2019-A, 5.00% 2023 850 881
Gaming Tax Rev. Ref. Bonds, Series 2015-E, 5.00% 2026 500 543
Home Corp., Collateralized Multi Family Housing Rev. Bonds (J&A Dev. Portfolio Project I), Series 2021-1,
0.30% 2024 (put 2023) 		230 227
Home Corp., Multi Family Housing Rev. Bonds (Southwest Village Apartments Project), Series 2022-2,
1.30% 2025 (put 2024) 		215 214
Home Corp., Single Family Mortgage Rev. Bonds, Series 2019-A, 4.00% 2048 545 559
      2,424
Missouri 1.05%      
Health and Educational Facs. Auth., Health Facs. Rev. Bonds (BJC Health System), Series 2021-B,
5.00% 2052 (put 2028) 		2,360 2,660
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2016-B, 3.50% 2041 1,015 1,025
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2017-B, 3.25% 2047 238 239
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2020-A, 3.50% 2050 515 523
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-A, 3.00% 2052 550 549
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-C, 3.25% 2052 180 181
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program),
Series 2015-A, 3.75% 2038 		95 96
City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2019-C, 5.00% 2031 500 571
      5,844
Montana 0.28%      
Board of Housing, Single Family Mortgage Bonds, Series 2016-A-2, 3.50% 2044 90 91
Board of Housing, Single Family Mortgage Bonds, Series 2020-C, 3.00% 2050 280 280
Board of Housing, Single Family Mortgage Bonds, Series 2022-A, 3.00% 2052 1,200 1,194
      1,565
Nebraska 0.83%      
Central Plains Energy Project, Gas Project Rev. Bonds (Project No. 3), Series 2012, 5.00% 2032 (preref. 2022) 1,190 1,193
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2013-A, 3.00% 2043 5 5
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2014-A, 4.00% 2044 65 66
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2015-C, 3.50% 2045 195 196
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2016-C, 3.50% 2046 5 5
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-C, 4.00% 2048 1,515 1,553
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-A, 4.00% 2048 530 543
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2021-C, 3.00% 2050 1,085 1,084
      4,645
Nevada 1.37%      
Clark County School Dist., Limited Tax G.O. Building Bonds, Series 2022-A, 5.00% 2036 1,760 2,066
County of Clark, Airport System Rev. Ref. Bonds (McCarran International Airport), Series 2021-A, 5.00% 2033 760 893
County of Clark, Las Vegas-McCarran International Airport, Passenger Fac. Charge Rev. Ref. Bonds, Series 2019-E, 5.00% 2029 770 899
Capital Group Core Municipal Fund — Page 12 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Nevada (continued) 		  Principal amount
(000) 		Value
(000)
County of Clark, Pollution Control Rev. Ref. Bonds (Nevada Power Co. Projects), Series 2017,
1.65% 2036 (put 2023) 		USD1,355 $1,349
City of Henderson, Local Improvement Dist. No. T-17 (Madeira Canyon), Limited Obligation Rev. Ref. Bonds, Series 2017, 2.00% 2023 420 419
Housing Division, Multi Family Housing Rev. Bonds (Southwest Village Apartments), Series 2021,
0.47% 2024 (put 2023) 		200 194
Las Vegas Valley Water Dist., Limited Tax G.O. Water Rev. Ref. Bonds, Series 2020-A, 5.00% 2024 595 631
Las Vegas Valley Water Dist., Limited Tax G.O. Water Rev. Ref. Bonds, Series 2021-A, 5.00% 2030 1,000 1,200
      7,651
New Hampshire 0.13%      
Health and Education Facs. Auth., Rev. Bonds (University System of New Hampshire Issue), Series 2017-A, 5.00% 2023 600 618
National Fin. Auth., Municipal Certs., Series 2020-1, Class A, 4.125% 2034 96 97
      715
New Jersey 1.00%      
Econ. Dev. Auth., School Facs. Construction Bonds, Series 2021-QQQ, 5.00% 2029 500 563
Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020-A, 1.00% 2023 2,025 2,008
Housing and Mortgage Fin. Agcy., Multi Family Conduit Rev. Bonds (Browns Woods Apartments Project),
Series 2021-A, 1.25% 2024 (put 2023) 		395 390
Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2018-A, 4.50% 2048 310 323
Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2019-C, 4.75% 2050 185 194
Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.00% 2023 500 513
Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.00% 2029 225 248
Transportation Trust Fund Auth., Transportation System Bonds, Series 2019-A, 5.00% 2028 750 843
Turnpike Auth., Turnpike Rev. Bonds, Series 2020-D, 5.00% 2028 240 266
Turnpike Auth., Turnpike Rev. Bonds, Series 2014-A, 5.00% 2028 230 243
      5,591
New Mexico 1.00%      
Albuquerque Municipal School Dist. No. 12, G.O. School Bonds, Series 2021-A, 5.00% 2027 400 459
City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan Project), Series 2010-D, 1.10% 2040 (put 2023) 500 494
City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan Project), Series 2010-E,
1.15% 2040 (put 2024) 		2,615 2,539
Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2018-B-1, Class I, 4.00% 2049 680 698
Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2019-C-1, Class I, 4.00% 2050 120 123
Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2021-C, Class I, 3.00% 2052 255 255
Municipal Energy Acquisition Auth., Gas Supply Rev. Ref. and Acquisition Bonds, Series 2019,
5.00% 2039 (put 2025) 		960 1,022
      5,590
New York 8.77%      
Build NYC Resource Corp., Rev. Ref. Bonds (Ethical Culture Fieldston School Project), Series 2015, 5.00% 2024 395 416
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2017-B, 5.00% 2030 1,500 1,695
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 5.00% 2030 605 717
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A-2, 5.00% 2031 165 195
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2022-A, 5.00% 2032 565 684
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2018-H, 2.75% 2022 480 481
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2019-P, 1.55% 2023 610 608
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-E, 0.85% 2024 345 336
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-L-2, 0.75% 2025 4,500 4,217
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-M-2, 0.75% 2025 275 261
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-D-2, 0.65% 2056 (put 2025) 690 640
Capital Group Core Municipal Fund — Page 13 of 77
unaudited
Bonds, notes & other debt instruments (continued)
New York (continued) 		  Principal amount
(000) 		Value
(000)
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-I-2, 0.70% 2056 (put 2025) USD380 $357
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-J-2, 1.10% 2061 (put 2027) 1,900 1,751
Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 1.70% 2030 410 356
Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 1.90% 2031 195 165
Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2014-C, 5.00% 2023 375 390
Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2012-C, 5.00% 2032 (preref. 2022) 1,000 1,010
Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-2, 5.00% 2045 (put 2030) 2,180 2,453
Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2012-C, 5.00% 2047 (preref. 2022) 1,100 1,111
Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2002-D-2-B,
Assured Guaranty Municipal insured, (USD-SOFR x 0.67 + 0.55%) 1.575% 2032 (put 2024)2 		880 867
Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2002-D-2-A-2,
Assured Guaranty Municipal insured, (USD-SOFR x 0.67 + 0.80%) 1.825% 2032 (put 2026)2 		315 306
Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 2023 305 317
Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 2027 535 590
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 197, 3.50% 2044 865 874
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 233, 3.00% 2045 1,455 1,454
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 203, 3.50% 2047 840 850
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 213, 4.25% 2047 670 690
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 239, 3.25% 2051 205 206
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 242, 3.50% 2052 435 442
New York City G.O. Bonds, Series 2018-A, 5.00% 2028 565 643
New York City G.O. Bonds, Series 2020-C-1, 5.00% 2030 2,350 2,808
New York City G.O. Bonds, Series 2018-E-1, 5.00% 2031 1,635 1,854
New York City G.O. Bonds, Series 2022-C, 5.00% 2031 1,000 1,204
New York City G.O. Bonds, Series 2020-C-1, 5.00% 2032 1,750 2,055
New York City G.O. Bonds, Series 2021-A-1, 5.00% 2032 1,435 1,710
New York City G.O. Bonds, Series 2008-L-5, 5.00% 2032 100 120
New York City G.O. Bonds, Series 2021-A-1, 5.00% 2033 95 112
New York City G.O. Bonds, Series 2015-F-4, 5.00% 2044 (put 2025) 290 311
New York City Health and Hospitals Corp., Health System Bonds, Series 2020-A, 5.00% 2024 375 393
New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (8 Spruce Street), Series 2014-E, 3.50% 2048 320 316
New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2021-C-2, 0.70% 2060 (put 2025) 325 306
New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds),
Series 2020-I-2, 0.70% 2060 (put 2025) 		700 663
New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds),
Series 2021-F-2, 0.60% 2061 (put 2025) 		835 785
New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-DD, 5.00% 2029 465 549
New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds,
Series 2022-EE, 5.00% 2030 		580 694
New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds,
Series 2022-CC-2, 5.00% 2035 		500 589
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-E-1, 5.00% 2023 65 66
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2018-1, 5.00% 2025 105 116
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-A-1, 5.00% 2030 355 424
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-C-1, 5.00% 2031 760 906
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-A-1, 5.00% 2031 195 235
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-A-1, 5.00% 2032 910 1,084
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-C-1, 5.00% 2032 110 131
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-D-1, 5.00% 2033 180 214
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-B-1, 5.00% 2034 795 931
Town of Oyster Bay, Public Improvement Rev. Ref. Bonds, Series 2021, 4.00% 2023 140 142
Suffolk County Econ. Dev. Corp., Rev. Ref. Bonds (Peconic Landing at Southold, Inc. Project), Series 2010, 3.125% 2025 225 225
Capital Group Core Municipal Fund — Page 14 of 77
unaudited
Bonds, notes & other debt instruments (continued)
New York (continued) 		  Principal amount
(000) 		Value
(000)
City of Troy Capital Resource Corp., Rev. Ref. Bonds (Rensselaer Polytechnic Institute Project), Series 2020-A, 5.00% 2030 USD155 $177
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 2028 295 341
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 2032 1,000 1,172
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 2033 1,275 1,482
Utility Debt Securitization Auth., Restructuring Bonds, Series 2017, 5.00% 2025 130 136
County of Westchester, Industrial Dev. Agcy., Multi Family Housing Rev. Bonds
(Marble Hall - Tuckahoe, LP Project), Series 2021, 0.28% 2024 (put 2023) 		1,550 1,527
      48,860
North Carolina 1.42%      
City of Burlington, Housing Auth., Multi Family Housing Rev. Bonds (Thetford Portfolio), Series 2021,
0.30% 2024 (put 2022) 		1,130 1,123
City of Durham, Housing Auth., Multi Family Housing Rev. Bonds (JJ Henderson Apartments Project), Series 2020,
0.30% 2024 (put 2023) 		80 78
City of Goldsboro, Multi Family Housing Rev. Bonds (Grand at Day Point), Series 2021, 0.28% 2024 (put 2023) 1,725 1,685
Hospital Auth., Health Care Rev. Bonds (Charlotte-Mecklenburg Hospital), Series 2021-D, 5.00% 2049 (put 2031) 1,290 1,517
Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 40, 4.25% 2047 790 815
Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 38-B, 4.00% 2047 860 879
Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 44, 4.00% 2050 705 726
Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Winds Crest Senior Living, LP), Series 2021,
0.36% 2024 (put 2023) 		405 401
County of Wake, Limited Obligation Bonds, Series 2021, 5.00% 2023 675 689
      7,913
North Dakota 0.67%      
County of Cass, Joint Water Resource Dist., Temporary Rev. Ref. Improvement Bonds, Series 2021-A, 0.48% 2024 800 771
City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 5.00% 2030 280 316
Housing Fin. Agcy., Homeownership Rev. Bonds (Home Mortgage Fin. Program), Series 2016-D, 3.50% 2046 745 754
Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2015-B, 4.00% 2036 130 132
Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2017-D, 4.00% 2048 235 240
Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2017-F, 4.00% 2048 180 184
Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-A, 4.25% 2049 140 145
Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-B, 3.00% 2052 740 736
Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-A, 3.00% 2052 430 430
      3,708
Ohio 2.64%      
Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-B,
1.375% 2026 (put 2024) 		200 190
Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-C,
1.50% 2026 (put 2025) 		50 47
Akron, Bath and Copley Joint Township Hospital Dist., Hospital Facs. Rev. Ref. Bonds
(Summa Health Obligated Group), Series 2020, 5.00% 2028 		680 762
Akron, Bath and Copley Joint Township Hospital Dist., Hospital Facs. Rev. Ref. Bonds
(Summa Health Obligated Group), Series 2020, 5.00% 2030 		350 399
County of Allen, Hospital Facs. Rev. Bonds (Bon Secours Mercy Health, Inc.), Series 2020-A, 5.00% 2030 400 457
County of Allen, Hospital Facs. Rev. Bonds (Mercy Health), Series 2017-A, 5.00% 2022 810 810
County of Allen, Hospital Facs. Rev. Bonds (Mercy Health), Series 2017-A, 5.00% 2027 570 644
Capital Facs. Lease Appropriation Bonds, Series 2021-A, 5.00% 2029 180 211
Capital Facs. Lease Appropriation Bonds, Series 2021-A, 5.00% 2030 115 137
City of Dayton, Metropolitan Housing Auth., Multi Family Housing Rev. Bonds
(Southern Montgomery Apartments Project), Series 2021-A, 0.32% 2024 (put 2023) 		200 195
County of Hamilton, Hospital Facs. Rev. Bonds (UC Health), Series 2014, 5.00% 2025 400 416
Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 2024 40 41
Capital Group Core Municipal Fund — Page 15 of 77
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Bonds, notes & other debt instruments (continued)
Ohio (continued) 		  Principal amount
(000) 		Value
(000)
Hospital Rev. Ref. Bonds (Cleveland Clinic Health System Obligated Group), Series 2021-B, 5.00% 2030 USD280 $330
Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Chevybrook Estates Apartments Project), Series 2021, 0.35% 2024 (put 2023) 200 198
Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Franklin Manor North Project), Series 2021,
0.25% 2024 (put 2023) 		440 426
Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Glen Meadows Apartments Project), Series 2021-A, 0.40% 2024 (put 2023) 305 297
Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Marianna Terrace Apartments), Series 2022-A,
1.30% 2025 (put 2024) 		1,017 1,000
Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Pinzone Tower Apartments Project), Series 2021, 0.28% 2023 (put 2022) 655 650
Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2017-D, 4.00% 2048 245 250
Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2019-A, 4.50% 2049 560 582
Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2020-A, 3.75% 2050 585 599
Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2021-C, 3.25% 2051 860 867
Major New State Infrastructure Project Rev. Bonds, Series 2019-1, 5.00% 2028 700 819
Major New State Infrastructure Project Rev. Bonds, Series 2019-1, 5.00% 2029 300 357
Miami University, General Receipts and Rev. Ref. Bonds, Series 2022-A, 5.00% 2031 335 401
County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children’s Hospital), Series 2021, 5.00% 2030 75 88
North East Ohio Regional Sewer Dist., Wastewater Improvement Rev. and Rev. Ref. Bonds, Series 2014, 5.00% 2044 (preref. 2024) 1,000 1,075
Rev. Bonds (Premier Health Partners Obligated Group), Series 2020, 5.00% 2033 85 93
Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2022-A, 5.00% 2029 1,085 1,252
Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2022-A, 5.00% 2030 325 380
Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2022-A, 5.00% 2031 485 575
Water Dev. Auth., Water Dev. Rev. Bonds, Series 2013-A, 5.00% 2023 155 160
      14,708
Oklahoma 0.14%      
Capital Improvement Auth., State Highways Capital Improvement Rev. Ref. Bonds
(Oklahoma Dept. of Transportation Project), Series 2020-A, 5.00% 2023 		595 614
Board of Regents of Oklahoma State University, General Rev. Ref. Bonds, Series 2020-A, 5.00% 2032 120 141
      755
Oregon 1.08%      
Dept. of Administrative Services, State Lottery Rev. Bonds, Series 2015-A, 5.00% 2026 330 357
County of Deschutes, Deschutes Public Library Dist., G.O. Bonds, Series 2021, 4.00% 2029 225 251
County of Deschutes, Deschutes Public Library Dist., G.O. Bonds, Series 2021, 4.00% 2030 265 298
Facs. Auth., Rev. Bonds (University of Portland Projects), Series 2015-A, 5.00% 2031 600 635
G.O. Bonds (Veteran’s Welfare Bonds Series 99B), Series 2020, 3.50% 2050 260 264
Housing and Community Services Dept., Housing Dev. Rev. Bonds (Anna Mann Apartments Project),
Series 2021-AA, 0.75% 2041 (put 2024) 		1,400 1,341
Housing and Community Services Dept., Housing Dev. Rev. Bonds (The Susan Emmons Apartments Project), Series 2021-S-2, 0.38% 2024 (put 2023) 460 447
Housing and Community Services Dept., Housing Dev. Rev. Bonds (Westwind Apartments Project),
Series 2021-H, 0.25% 2024 (put 2023) 		175 173
Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program),
Series 2017-A, 4.00% 2047 		595 608
Capital Group Core Municipal Fund — Page 16 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Oregon (continued) 		  Principal amount
(000) 		Value
(000)
Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program),
Series 2016-A, 4.00% 2047 		USD335 $341
Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program),
Series 2018-A, 4.50% 2049 		105 108
Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program),
Series 2020-C, 3.00% 2052 		1,175 1,175
      5,998
Pennsylvania 2.00%      
County of Allegheny, Sanitary Auth., Sewer Rev. Bonds, Series 2020-A, 5.00% 2026 500 556
County of Berks, G.O. Bonds, Series 2015, 4.00% 2027 (preref. 2023) 35 36
Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-C,
(USD-SOFR x 0.67 + 0.35%) 1.375% 2030 (put 2025)2 		195 188
Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-B,
(USD-SOFR x 0.67 + 0.35%) 1.375% 2031 (put 2025)2 		255 246
Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-C,
(USD-SOFR x 0.67 + 0.35%) 1.375% 2032 (put 2025)2 		205 198
Cumberland Valley School Dist., G.O. Bonds, Series 2015, 5.00% 2032 (preref. 2023) 150 156
Cumberland Valley School Dist., G.O. Bonds, Series 2015, 5.00% 2034 (preref. 2023) 130 136
Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-122, 4.00% 2046 760 774
Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2020-133, 3.00% 2050 940 940
Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-137, 3.00% 2051 965 956
Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-135-A, 3.00% 2051 215 215
Housing Fin. Agcy., Special Limited Obligation, Multi Family Housing Dev. Bonds
(Harrison Senior Tower), Series 2021, 0.25% 2024 (put 2023) 		1,030 1,006
Housing Fin. Agcy., Special Limited Obligation, Multi Family Housing Dev. Bonds (School of Nursing),
Series 2021, 0.27% 2024 (put 2023) 		330 323
County of Lehigh, General Purpose Auth., Rev. Bonds (The Good Shepherd Group), Series 2021-A, 4.00% 2023 95 97
County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University),
Series 2022-B, 4.00% 2035 		110 114
County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Foulkeways at Gwynedd Project), Series 2016, 5.00% 2026 400 426
County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Waverly Heights, Ltd.), Series 2019, 4.00% 2023 125 128
County of Northampton, General Purpose Auth., Hospital Rev. Bonds
(St. Luke’s University Health Network Project), Series 2018-B,
(1-month USD-LIBOR x 0.70 + 1.04%) 2.239% 2048 (put 2022)2 		175 176
City of Philadelphia, Hospitals and Higher Education Facs. Auth., Rev. Bonds
(Temple University Health System Obligated Group), Series 2022,
Assured Guaranty Municipal insured, 5.00% 2035 		155 174
Philadelphia School Dist., G.O. Bonds, Series 2019-A, 5.00% 2022 1,050 1,053
Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 2025 415 452
Philadelphia School Dist., G.O. Bonds, Series 2021-A, 5.00% 2030 260 303
Philadelphia School Dist., G.O. Bonds, Series 2021-A, 5.00% 2031 125 146
Philadelphia School Dist., G.O. Rev. Ref. Bonds, Series 2016-F, 5.00% 2023 1,500 1,551
Turnpike Commission, Turnpike Rev. Bonds, Series 2021-C, 5.00% 2029 220 260
Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 5.00% 2030 165 196
Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 5.00% 2031 295 350
      11,156
Capital Group Core Municipal Fund — Page 17 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Puerto Rico 0.02% 		  Principal amount
(000) 		Value
(000)
Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 5.00% 2030 USD40 $46
Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 5.00% 2031 65 74
      120
Rhode Island 0.39%      
Commerce Corp., Grant Anticipation Rev. Ref. Bonds (Dept. of Transportation), Series 2016-A, 5.00% 2023 500 515
Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 75-A, 3.00% 2051 1,490 1,487
Housing and Mortgage Fin. Corp., Multi Family Dev. Bonds, Series 2021-A-1, 0.45% 2040 (put 2023) 160 156
      2,158
South Carolina 1.71%      
City of Columbia, Housing Auth., Multi Family Housing Rev. Bonds (Haven at Congaree Pointe), Series 2022, 2.25% 2043 (put 2025) 1,884 1,873
City of Columbia, Housing Auth., Multi Family Housing Rev. Bonds (Palmetto Terrace Apartments Project),
Series 2021, 0.31% 2024 (put 2023) 		460 453
City of Columbia, Waterworks and Sewer System Rev. Bonds, Series 2019-A, 5.00% 2028 100 116
Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2017-A, 4.00% 2047 280 285
Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2017-B, 4.00% 2047 80 82
Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2020-A, 4.00% 2050 700 723
Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2021-A, 3.00% 2052 635 634
Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2022-A, 4.00% 2052 710 737
Housing Fin. and Dev. Auth., Mortgage Rev. Ref. Bonds, Series 2016-A, 4.00% 2036 380 389
Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (Villages at Congaree Pointe Project),
Series 2021-B, 1.25% 2025 (put 2024) 		415 406
Lexington County Health Services Dist., Inc., Hospital Rev. Ref. Bonds, Series 2017, 5.00% 2022 600 605
Lexington County Health Services Dist., Inc., Hospital Rev. Ref. Bonds, Series 2017, 5.00% 2024 500 533
Patriots Energy Group Fncg. Agcy., Gas Supply Rev. Bonds, Series 2018-A, 4.00% 2048 (put 2024) 180 184
Public Service Auth., Improvement Rev. Obligations, Series 2021-B, 5.00% 2029 520 591
Public Service Auth., Rev. Obligations (Santee Cooper), Series 2014-C, 5.00% 2022 350 354
Public Service Auth., Rev. Obligations (Santee Cooper), Series 2014-C, 5.00% 2023 125 130
Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2015-A, 5.00% 2028 100 106
Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-A, 5.00% 2029 180 205
Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-A, 5.00% 2031 455 522
City of Spartanburg, Housing Auth., Multi Family Housing Rev. Bonds (Connecticut Village Apartments),
Series 2022, 1.05% 2025 (put 2023) 		100 99
Spartanburg Regional Health Services Dist., Hospital Rev. Ref. Bonds, Series 2022, 5.00% 2030 310 352
Spartanburg Regional Health Services Dist., Hospital Rev. Ref. Bonds, Series 2022, 5.00% 2032 130 149
      9,528
South Dakota 1.21%      
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2014-E, 4.00% 2044 295 298
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2016-D, 3.50% 2046 585 591
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2017-B, 4.00% 2047 880 899
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2018-B, 4.50% 2048 1,155 1,198
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2019-B, 4.00% 2049 245 251
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2021-B, 3.00% 2051 2,130 2,123
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2020-C, 3.50% 2051 880 891
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2022-C, 5.00% 2053 460 499
      6,750
Capital Group Core Municipal Fund — Page 18 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Tennessee 0.98% 		  Principal amount
(000) 		Value
(000)
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-1, 4.00% 2042 USD390 $399
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-2-B, 4.00% 2042 380 389
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-2-A, 4.00% 2046 355 362
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2020-3-A, 3.50% 2050 105 107
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-2-A, 3.75% 2050 405 415
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2019-1, 4.25% 2050 710 734
County of Knox, Health, Educational and Housing Fac. Board, Multi Family Housing Rev. Bonds
(Farragut Pointe Apartments Project), Series 2021, 0.65% 2026 (put 2024) 		845 807
Knoxville Community Dev. Corp., Collateralized Multi Family Housing Rev. Bonds
(Austin 1B Apartments Project), Series 2021, 0.22% 2024 (put 2023) 		155 149
Metropolitan Government of Nashville and Davidson County, Health and Educational Facs. Board, Rev. Bonds (Vanderbilt University Medical Center), Series 2021-A, 5.00% 2031 415 480
Tennessee Energy Acquisition Corp., Commodity Project Rev. Bonds, Series 2021-A, 5.00% 2052 (put 2031) 1,500 1,628
      5,470
Texas 12.93%      
Affordable Housing Corp., Multi Family Housing Rev. Bonds (Apartments of Las Palmas I, LLC), Series 2021, 0.25% 2024 (put 2022) 65 65
Alvarado Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2023 795 810
Alvin Independent School Dist., Unlimited Tax Schoolhouse and Rev. Ref. Bonds, Series 2020, 5.00% 2025 600 649
Alvin Independent School Dist., Unlimited Tax Schoolhouse and Rev. Ref. Bonds, Series 2020, 5.00% 2027 225 256
Angleton Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2025 620 669
Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Uplift Education), Series 2017-A, 5.00% 2023 885 924
Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Uplift Education), Series 2017-A, 5.00% 2024 400 429
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 5.00% 2026 400 444
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 5.00% 2028 595 686
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 5.00% 2029 235 275
Arlington Higher Education Fin. Corp., Education Rev. Bonds (KIPP Texas, Inc.), Series 2019, 5.00% 2027 1,000 1,139
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Responsive Education Solutions), Series 2021-A, 5.00% 2029 510 597
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Responsive Education Solutions), Series 2021-A, 5.00% 2030 485 575
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2019, 5.00% 2028 650 750
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2017-B, 5.00% 2026 450 504
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 2027 460 497
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2017-B, 5.00% 2027 250 283
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 2028 475 511
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 2029 395 421
Arlington Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020, 5.00% 2026 325 360
City of Arlington, Permanent Improvement Bonds, Series 2021-A, 5.00% 2030 140 168
Austin Affordable PFC, Inc., Multi Family Housing Rev. Bonds (Bridge at Turtle Creek Apartments), Series 2020, 0.42% 2040 (put 2023) 1,000 974
Austin Community College Dist., Maintenance Tax Notes, Series 2021, 5.00% 2030 160 191
City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2015-A, 5.00% 2030 740 807
Barbers Hill Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2033 760 917
County of Bexar, Hospital Dist., Limited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2031 480 545
Cameron County Housing Fin. Corp., Multi Family Housing Rev. Bonds (Sunland Country Apartments),
Series 2021, 0.28% 2024 (put 2023) 		205 201
Capital Group Core Municipal Fund — Page 19 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Texas (continued) 		  Principal amount
(000) 		Value
(000)
Capital Area Housing Fin. Corp., Multi Family Housing Rev. Bonds (Redwood Apartments), Series 2020, 0.41% 2041 (put 2024) USD920 $893
Carroll Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2026 970 1,075
Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2021-D, 5.00% 2030 320 363
Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2021-D, 5.00% 2032 520 595
Clear Creek Independent School Dist., Unlimited Tax School Building Bonds, Series 2013-B,
0.28% 2038 (put 2024) 		205 195
Clifton Higher Education Fin. Corp., Education Rev. and Ref. Bonds (Idea Public Schools), Series 2017, 5.00% 2027 1,360 1,535
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 2023 25 26
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 2024 30 32
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2018, 5.00% 2025 500 543
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 2025 30 33
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2019, 5.00% 2026 1,000 1,108
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 2026 25 28
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 2027 30 34
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 2028 15 17
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 2029 230 267
Corpus Christi Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020, 5.00% 2027 675 774
Port of Corpus Christi Auth. of Nueces County, Rev. Bonds, Series 2018-A, 5.00% 2027 490 558
Crowley Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 2028 310 360
Crowley Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 2029 400 467
Crowley Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 2031 260 301
Cities of Dallas and Fort Worth, Dallas/Fort Worth International Airport, Joint Rev. Improvement Bonds,
Series 2013-B, 4.00% 2039 		1,000 1,006
City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Estates at Shiloh), Series 2019,
1.25% 2037 (put 2023) 		430 427
City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Midpark Towers), Series 2021,
0.35% 2024 (put 2023) 		675 662
City of Denton, Utility System Rev. Bonds, Series 2017, 5.00% 2028 2,000 2,228
Eagle Mountain-Saginaw Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 2027 600 691
El Paso Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2015, 5.00% 2026 500 534
Fort Bend Grand Parkway Toll Road Auth., Limited Contract Tax and Toll Road Rev. Ref. Bonds, Series 2021-A, 4.00% 2032 185 204
Fort Bend Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2021-B, 0.72% 2051 (put 2026) 515 482
Fort Bend Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020-B,
0.875% 2050 (put 2023) 		340 328
G.O. Water Financial Assistance Rev. Ref. Bonds, Series 2021-B, 4.00% 2028 175 185
Galveston Public Fac. Corp., Multi Family Housing Rev. Bonds (The Orleanders at Broadway), Series 2021,
0.47% 2025 (put 2024) 		510 486
City of Garland, Electric Utility System Rev. Ref. Bonds, Series 2021-A, 5.00% 2028 80 91
City of Garland, Electric Utility System Rev. Ref. Bonds, Series 2021-A, 5.00% 2031 150 177
City of Garland, Tax and Rev. Certs. of Obligation, Series 2021, 5.00% 2024 135 142
Goose Creek Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2014-B, 0.60% 2035 (put 2026) 340 319
Goose Creek Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2019-B,
0.15% 2049 (put 2022) 		555 553
Harlandale Independent School Dist., Maintenance Tax Notes, Series 2021, BAM insured, 2.00% 2040 (put 2024) 185 185
Harlandale Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 0.75% 2045 (put 2025) 330 318
Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Texas Children’s Hospital),
Series 2019-B, 5.00% 2041 (put 2024) 		1,000 1,061
Harris County Cultural Education Facs. Fin. Corp., Medical Facs. Mortgage Rev. Ref. Bonds
(Baylor College of Medicine), Series 2019-A, (3-month USD-LIBOR x 0.70 + 0.65%) 1.849% 2046 (put 2024)2 		535 537
Capital Group Core Municipal Fund — Page 20 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Texas (continued) 		  Principal amount
(000) 		Value
(000)
Harris County Cultural Education Facs. Fin. Corp., Rev. Bonds (Texas Medical Center), Series 2020-A,
0.90% 2050 (put 2025) 		USD455 $433
Harris County Health Facs. Dev. Corp., Rev. Ref. Bonds (CHRISTUS Health), Series 2005-A-4,
Assured Guaranty Municipal insured, 0.05% 20312 		125 125
Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (Corona Del Valle), Series 2021, 0.37% 2025 (put 2023) 185 181
Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (Oso Bay Apartments), Series 2021, 0.27% 2024 (put 2022) 345 345
Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds
(Palladium Simpson Stuart Apartments), Series 2021, 0.35% 2025 (put 2024) 		630 611
Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (The Park at Kirkstall), Series 2021, 0.65% 2025 (put 2024) 870 831
Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2019-A, 4.75% 2049 975 1,019
Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2021-A, 3.00% 2052 2,235 2,230
Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2019-A, 4.00% 2050 1,155 1,195
Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2020-A, 3.50% 2051 345 351
Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 2052 850 846
Housing Options, Inc., Multi Family Housing Rev. Bonds (Brooks Manor - The Oaks Project), Series 2021,
0.50% 2041 (put 2025) 		255 241
City of Houston, Combined Utility System Rev. and Rev. Ref. Bonds, Series 2016-B, 5.00% 2027 500 563
City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2019-B, 5.00% 2027 550 635
City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds,
Series 2021, 4.00% 2028 		225 244
City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds,
Series 2021, 4.00% 2030 		25 27
City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds,
Series 2021, 4.00% 2031 		10 11
City of Houston, Memorial City Redev. Auth., Tax Increment Contract Rev. and Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 5.00% 2027 1,050 1,182
City of Houston, Memorial City Redev. Auth., Tax Increment Contract Rev. and Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 5.00% 2028 250 284
Houston Housing Fin. Corp., Multi Family Housing Rev. Bonds (Temenos Place Apartments), Series 2021,
0.29% 2024 (put 2023) 		325 318
Humble Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2034 500 603
County of Kaufman, Unlimited Tax Road Bonds, Series 2020, 5.00% 2031 115 133
Kilgore Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2026 205 227
Longview Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 2023 575 586
Lower Colorado River Auth., Rev. Ref. Bonds, Series 2022, Assured Guaranty Municipal insured, 5.00% 2032 380 448
Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2018, 5.00% 2024 255 270
Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2021-A, 5.00% 2031 570 673
Lumberton Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2029 245 287
City of Mckinney, Waterworks and Sewer System Rev. Bonds, Series 2022, 5.00% 2029 400 467
Medina Valley Independent School Dist., Unlimited Tax School Building Bonds, Series 2021,
0.82% 2051 (put 2026) 		325 305
Midland County Public Fac. Corp., Multi Family Housing Rev. Bonds (Palladium at West Francis), Series 2020, 0.35% 2024 (put 2023) 1,000 975
Municipal Gas Acquisition and Supply Corp. I, Gas Supply Rev. Bonds, Series 2008-D, 6.25% 2026 415 449
Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 2022 660 666
Nederland Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 2031 195 230
New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2016, 5.00% 2028 235 247
North Central Texas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Bluebonnet Ridge Apartments),
Series 2021, 0.375% 2040 (put 2024) 		220 211
Capital Group Core Municipal Fund — Page 21 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Texas (continued) 		  Principal amount
(000) 		Value
(000)
North East Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2017, 2.375% 2047 (put 2022) USD500 $500
North East Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2019-A, 4.00% 2032 215 233
North Fort Bend Water Auth., Water System Rev. and Rev. Ref. Bonds, Series 2021, BAM insured, 5.00% 2031 435 522
North Harris County Regional Water Auth., Rev. and Rev. Ref. Bonds, Series 2016, 5.00% 2034 950 1,035
North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2015-A, 5.00% 2030 300 319
North Texas Tollway Auth., System Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2008-D,
Assured Guaranty insured, 0% 2030 		500 403
Northside Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 2027 850 975
Northwest Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 2030 175 208
Northwest Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 2031 105 124
Northwest Independent School Dist., Unlimited Tax School Building Bonds, Series 2013,
5.00% 2038 (preref. 2023) 		700 713
Odessa Housing Fin. Corp., Multi Family Housing Rev. Bonds (Cove in Odessa Apartments), Series 2021, 0.37% 2024 (put 2023) 755 729
Pasadena Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2029 260 306
Pasadena Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2013, 5.00% 2038 1,000 1,015
Plano Public Fac. Corp., Multi Family Housing Rev. Bonds (K Avenue Lofts), Series 2021, 0.65% 2041 (put 2024) 1,000 1,000
City of San Antonio, Electric and Gas Systems Rev. Bonds, Series 2013, 5.00% 2048 (preref. 2023) 475 483
City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2023 295 300
City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2027 180 203
City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2028 115 132
City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2029 125 145
City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2018, 2.75% 2048 (put 2022) 250 251
San Antonio Housing Trust Fin. Corp., Multi Family Housing Rev. Bonds
(The Arbors at West Avenue Apartments), Series 2022, 1.45% 2026 (put 2025) 		370 360
Spring Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 2031 465 537
Tarrant County Cultural Education Facs. Fin. Corp., Rev. Ref. Bonds (Christus Health), Series 2018-A, 5.00% 2023 850 874
Tomball Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2023 270 275
Tomball Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2024 90 95
Transportation Commission, Highway Improvement G.O. Bonds, Series 2016-A, 5.00% 2028 200 222
Travis County Strategic Housing Fin. Corp., Multi Family Housing Rev. Bonds (Yager Flats), Series 2021, 0.46% 2041 (put 2025) 3,000 2,812
Trinity River Public Fac. Corp., Multi Family Housing Rev. Bonds (Cowan Place Apartments), Series 2021, 0.28% 2024 (put 2023) 500 483
Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2018-A, 5.00% 2025 240 259
Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2018-A, 5.00% 2026 760 840
Upper Trinity Regional Water Dist., Treated Water Supply System Rev. Ref. Bonds, Series 2022, BAM insured, 5.00% 2028 815 938
Upper Trinity Regional Water Dist., Treated Water Supply System Rev. Ref. Bonds, Series 2022, BAM insured, 5.00% 2029 465 543
Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2021, 5.00% 2032 1,040 1,276
      72,026
Utah 1.39%      
Board of Higher Education, General Rev. Green Bonds (University of Utah), Series 2022-A, 5.00% 2033 1,750 2,101
Canyons School Dist., Local Building Auth., Lease Rev. Bonds, Series 2021, 5.00% 2029 1,000 1,178
Housing Corp., Multi Family Housing Rev. Bonds (Fellowship Manor Apartments), Series 2022,
2.00% 2024 (put 2023) 		2,000 1,999
Housing Corp., Multi Family Housing Rev. Bonds (Three Link Towers Apartments), Series 2022,
2.00% 2024 (put 2023) 		584 584
Housing Corp., Single Family Mortgage Bonds, Class III, Series 2015-D-2, 4.00% 2045 115 117
Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 5.00% 2025 450 488
Capital Group Core Municipal Fund — Page 22 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Utah (continued) 		  Principal amount
(000) 		Value
(000)
Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 5.00% 2026 USD620 $686
School Fin. Auth., Charter School Rev. Bonds (Utah Charter Academies Project), Series 2018, 4.00% 2022 335 337
Transit Auth., Sales Tax Rev. Bonds, Series 2008-A, 5.25% 2023 80 83
City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021,
Assured Guaranty Municipal insured, 5.00% 2026 		95 105
City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021,
Assured Guaranty Municipal insured, 5.00% 2030 		25 29
City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021,
Assured Guaranty Municipal insured, 5.00% 2031 		20 24
      7,731
Vermont 0.06%      
Housing Fin. Agcy., Multiple Purpose Bonds, Series 2018-A, 4.00% 2048 195 199
Housing Fin. Agcy., Multiple Purpose Bonds, Series 2020-A, 3.75% 2050 150 154
      353
Virginia 2.03%      
County of Arlington, Industrial Dev. Auth., Hospital Rev. Bonds (Virginia Hospital Center), Series 2020, 5.00% 2031 600 677
County of Arlington, Industrial Dev. Auth., Hospital Rev. Bonds (Virginia Hospital Center), Series 2020, 5.00% 2032 215 240
County of Charles City, Econ. Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2004-A, 2.875% 2029 1,000 962
College Building Auth., Educational Facs. Rev. Bonds (Regent University Project), Series 2021, 5.00% 2029 375 414
College Building Auth., Educational Facs. Rev. Bonds (Regent University Project), Series 2021, 5.00% 2030 375 415
County of Fairfax, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Arrowbrook Apartments Project), Series 2020, 0.41% 2041 (put 2024) 1,000 960
Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds
(Longwood University Student Housing Project), Series 2018-A, 5.00% 2031 		400 418
County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster Canterbury Richmond), Series 2018, 5.00% 2023 575 589
City of Hopewell, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Hopewell Heights Apartments), Series 2021-A, 0.49% 2024 (put 2023) 1,100 1,071
County of Loudoun, Econ. Dev. Auth., Multi Family Housing Rev. Bonds (The View at Broadlands Project),
Series 2022, 2.00% 2025 (put 2024) 		1,875 1,868
Town of Louisa, Industrial Dev. Auth., Pollution Control Rev. Ref. Bonds (Virginia Electric and Power Co. Project), Series 2008-A, 1.90% 2035 (put 2023) 1,000 999
City of Lynchburg, Econ. Dev. Auth., Hospital Rev. and Rev. Ref. Bonds (Centra Health Obligated Group),
Series 2021, 5.00% 2033 		660 742
City of Norfolk, G.O. Capital Improvement Bonds, Series 2019, 5.00% 2044 (preref. 2028) 780 910
Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 3.00% 2023 45 45
Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 3.00% 2024 15 15
Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 4.00% 2031 635 639
Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% 2029 140 157
Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% 2030 170 190
      11,311
Capital Group Core Municipal Fund — Page 23 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Washington 1.85% 		  Principal amount
(000) 		Value
(000)
Central Puget Sound Regional Transit Auth., Sales Tax and Motor Vehicle Excise Tax Improvement and Rev. Ref. Green Bonds, Series 2021-S-1, 5.00% 2029 USD510 $609
Energy Northwest, Electric Rev. and Rev. Ref. Bonds (Columbia Generating Station), Series 2020-A, 5.00% 2032 195 230
City of Everett, Housing Auth., Multi Family Housing Rev. Bonds (Baker Heights Legacy), Series 2021,
0.30% 2024 (put 2023) 		285 278
G.O. Bonds, Series 2019-C, 5.00% 2031 1,000 1,165
G.O. Bonds, Series 2019-A, 5.00% 2033 500 571
County of Grant, Public Utility Dist. No. 2, Electric System Rev. Ref. Bonds, Series 2017-O, 5.00% 2024 275 288
Health Care Facs. Auth., Rev. Ref. Bonds (Providence St. Joseph Health), Series 2021-B, 4.00% 2042 (put 2030) 1,000 1,076
Housing Fin. Commission, Multi Family Housing Rev. Bonds (Garten Haus Apartments Project), Series 2021, 0.37% 2024 (put 2023) 170 167
Housing Fin. Commission, Multi Family Housing Rev. Bonds (HopeSource III Portfolio Projects), Series 2022, 1.25% 2025 (put 2024) 1,150 1,124
Housing Fin. Commission, Municipal Certs., Series 2021-1, 3.50% 2035 969 920
Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 20233 1,095 1,106
Housing Fin. Commission, Single Family Program Bonds, Series 2017-1-N, 4.00% 2047 355 362
Housing Fin. Commission, Single Family Program Bonds, Series 2019-1-N, 4.00% 2049 250 257
Housing Fin. Commission, Single Family Program Bonds, Series 2021-2-N, 3.00% 2051 695 691
City of Seattle, Housing Auth., Rev. and Rev. Ref. Bonds (Northgate Plaza Project), Series 2021, 1.00% 2026 460 441
City of Seattle, Housing Auth., Rev. Bonds (Lam Bow Apartments Project), Series 2021, 1.25% 2024 55 54
City of Seattle, Municipal Light and Power Rev. Ref. Bonds, Series 2021-B,
(SIFMA Municipal Swap Index + 0.25%) 1.58% 2045 (put 2026)2 		765 757
City of Seattle, Solid Waste System Rev. Ref. Bonds, Series 2021, 5.00% 2030 175 210
      10,306
West Virginia 0.32%      
Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Ref. Bonds (Appalachian Power Co. - Amos Project),
Series 2015-A, 2.55% 2040 (put 2024) 		500 494
G.O. State Road Bonds, Series 2021-A, 5.00% 2025 65 72
Housing Dev. Fund, Multi Family Housing Rev. Bonds (Charles Towers), Series 2021, 0.21% 2023 (put 2022) 235 234
Housing Dev. Fund, Multi Family Housing Rev. Bonds (Parkland Place / Chapmanville Towers), Series 2021, 0.28% 2024 (put 2023) 1,000 986
      1,786
Wisconsin 1.86%      
G.O. Rev. Ref. Bonds, Series 2017-2, 5.00% 2027 100 114
Health and Educational Facs. Auth., Health Facs. Rev. Bonds (SSM Health Care), Series 2018-B,
5.00% 2038 (put 2023) 		1,300 1,312
Health and Educational Facs. Auth., Rev. Bonds (Gundersen Lutheran), Series 2020, 5.00% 20263 1,910 2,083
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2017-C, 4.00% 2048 795 811
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2018-B, 4.00% 2048 625 638
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2020-A, 3.50% 2050 1,085 1,103
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-A, 3.00% 2052 400 399
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-C, 3.00% 2052 200 200
Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-B, 0.40% 2045 (put 2023) 95 93
Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-B, 0.50% 2050 (put 2024) 120 112
Public Fin. Auth., Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds
(The United Methodist Retirement Homes), Series 2021-A, 4.00% 2026 		20 21
Public Fin. Auth., Rev. Ref. Bonds (Providence St. Joseph Health), Series 2021-C, 4.00% 2041 (put 2030) 1,680 1,813
Public Fin. Auth., Student Housing Rev. Bonds (Beyond Boone, LLC - Appalachian State University Project),
Series 2019-A, Assured Guaranty Municipal insured, 5.00% 2030 		315 354
University of Wisconsin, Hospitals and Clinics Auth., Rev. Green Bonds, Series 2021-B, 5.00% 2030 630 742
WPPI Energy, Power Supply System Rev. Bonds, Series 2016-A, 5.00% 2026 500 556
      10,351
Capital Group Core Municipal Fund — Page 24 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Wyoming 0.58% 		  Principal amount
(000) 		Value
(000)
Community Dev. Auth., Housing Rev. Bonds, Series 2019-1, 4.00% 2048 USD670 $688
Community Dev. Auth., Housing Rev. Bonds, Series 2021-1, 3.00% 2050 1,490 1,488
Community Dev. Auth., Housing Rev. Bonds, Series 2020-1, 4.00% 2050 1,050 1,083
      3,259
Total bonds, notes & other debt instruments (cost: $503,407,000)     485,699
Short-term securities 12.53%
Municipals 12.53% 		     
State of Arizona, Industrial Dev. Auth., Hospital Rev. Ref. Bonds (Phoenix Children’s Hospital), Series 2019-B, 1.84% 20482 2,000 2,000
State of Arizona, County of Yavapai, Industrial Dev. Auth., Solid Waste Disposal Rev. Ref. Bonds
(Republic Services, Inc. Project), Series 2010, 1.75% 2029 (put 2022)4 		2,000 2,000
State of California, Fin. Auth., Recovery Zone Fac. Bonds (Chevron U.S.A., Inc. Project), Series 2010-B, 1.85% 20352 900 900
State of California, Irvine Ranch Water Dist. Nos. 105, 140, 240 and 250, Consolidated G.O. Bonds, Series 1993, 1.55% 20332 1,200 1,200
State of California, Kern Community College Dist., Facs. Improvement Dist. No. 1, G.O. Bond Anticipation Notes, Capital Appreciation Notes, Series 2020, 0% 2023 135 132
State of California, City of Los Angeles, Dept. of Water and Power, Power System Rev. Ref. Bonds,
Series 2001-B-3, 1.70% 20342 		800 800
State of California, Pollution Control Fncg. Auth., Environmental Impact Rev. Bonds
(Air Products and Chemicals, Inc. Project), Series 1997-B, 1.62% 20422 		900 900
State of California, Regents of the University of California, General Rev. Bonds, Series 2013-AL-2, 1.65% 20482 500 500
State of California, Regents of the University of California, Medical Center Pooled Rev. Bonds, Series 2007-B-1, 1.65% 20322 1,545 1,545
State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2010-B,
Wells Fargo LOC, 1.85% 20442 		7,400 7,400
State of Indiana, Fin. Auth., Environmental Rev. Ref. Bonds (Duke Energy Indiana, Inc. Project), Series 2009-A-3, 1.31% 20392 5,000 5,000
State of Iowa, Fin. Auth., Rev. Bonds (UnityPoint Health), Series 2018-F, 1.82% 20412 2,375 2,375
State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2009-A, 1.26% 20492 5,000 5,000
State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2010, 1.43% 20502 500 500
State of Massachusetts, Housing Fin. Agcy., Single Family Housing Notes, Series 2021, 0.25% 12/1/2022 165 164
State of Michigan, Regents of the University of Michigan, General Rev. Bonds, Series 2008-A, 1.80% 20382 1,900 1,900
State of Michigan, Regents of the University of Michigan, General Rev. Bonds, Series 2012-B, 1.65% 20422 6,435 6,435
State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds
(Chevron U.S.A., Inc. Project), Series 2007-D, 1.87% 20302 		2,500 2,500
State of Mississippi, Business Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2004, 0.70% 2029 (put 2026)4 1,460 1,296
State of Nevada, Housing Division, Single Family Mortgage Rev. Bonds, Series 2021-D, 0.25% 12/1/2022 275 274
State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2011-FF-1, 1.85% 20442 2,000 2,000
State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2016-AA-1, 1.85% 20482 2,170 2,170
State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2016-A-4, 1.85% 20412 2,905 2,905
State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2019-B-4, 1.89% 20422 1,500 1,500
State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2019-A-4, 1.89% 20452 5,000 5,000
State of Ohio, Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2019-F,
1.95% 20522 		4,900 4,900
State of South Carolina, Jobs-Econ. Dev. Auth., Hospital Rev. Bonds (Prisma Health Obligated Group),
Series 2018-B, 1.96% 20482 		5,000 5,000
Capital Group Core Municipal Fund — Page 25 of 77
unaudited
Short-term securities (continued)
Municipals (continued) 		  Principal amount
(000) 		Value
(000)
State of Tennessee, City of Clarksville, Public Building Auth., Pooled Fncg. Rev. Bonds, Series 2003,
Bank of America LOC, 1.91% 20332 		USD1,755 $1,755
State of Tennessee, County of Montgomery, Public Building Auth., Pooled Fncg. Rev. Bonds
(Tennessee County Loan Pool), Series 2004, Bank of America LOC, 1.92% 20342 		305 305
State of Texas, Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2022 20 20
State of Texas, North East Independent School Dist., Unlimited Tax School Building Bonds, Series 2013-B, 0.25% 2032 (put 2022)4 130 130
State of Wyoming, County of Lincoln, Pollution Control Rev. Ref. Bonds (ExxonMobil Project), Series 2014, 1.87% 20442 1,300 1,300
Total short-term securities (cost: $69,974,000)     69,806
Total investment securities 99.70% (cost: $573,381,000)     555,505
Other assets less liabilities 0.30%     1,688
Net assets 100.00%     $557,193
Futures contracts
Contracts Type Number of
contracts 		Expiration Notional
amount
(000) 		Value and
unrealized
appreciation
(depreciation)
at 7/31/2022
(000)
5 Year U.S. Treasury Note Futures Long 472 September 2022 USD53,679 $876
10 Year Ultra U.S. Treasury Note Futures Short 176 September 2022 (23,100) (939)
30 Year Ultra U.S. Treasury Bond Futures Short 59 September 2022 (9,340) (215)
          $(278)
1 Step bond; coupon rate may change at a later date.
2 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. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date.
3 Acquired in a transaction exempt from registration under Rule 144A 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 $3,189,000, which represented .57% of the net assets of the fund.
4 For short-term securities, the mandatory put date is considered to be the maturity date.
Key to abbreviations
Agcy. = Agency
Auth. = Authority
Certs. = Certificates
Dept. = Department
Dev. = Development
Dist. = District
Econ. = Economic
Fac. = Facility
Facs. = Facilities
Fin. = Finance
Fncg. = Financing
 
G.O. = General Obligation
LIBOR = London Interbank Offered Rate
LOC = Letter of credit
Part. = Participation
Preref. = Prerefunded
Redev. = Redevelopment
Ref. = Refunding
Rev. = Revenue
SIFMA = Securities Industry and Financial Markets Association
SOFR = Secured Overnight Financing Rate
USD = U.S. dollars
 
Capital Group Core Municipal Fund — Page 26 of 77
Capital Group Short-Term Municipal Fund
Investment portfolio
July 31, 2022
unaudited
Bonds, notes & other debt instruments 89.84%
Alabama 4.03% 		  Principal amount
(000) 		Value
(000)
City of Alabaster, Board of Education, Special Tax School Warrants, Series 2014-A,
Assured Guaranty Municipal insured, 5.00% 2028 (preref. 2024) 		USD500 $532
Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 6), Series 2021-B, 4.00% 2052 (put 2026) 500 511
Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 7), Series 2021-C-1, 4.00% 2052 (put 2026) 175 179
Black Belt Energy Gas Dist., Gas Supply Prepay Rev. Bonds (Project No. 5), Series 2020-A-1,
4.00% 2049 (put 2026) 		455 467
Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2022-D-1, 4.00% 2052 (put 2027) 525 546
Federal Aid Highway Fin. Auth., Federal Highway Grant Anticipation Bonds, Series 2012,
5.00% 2023 (preref. 2022) 		35 35
Housing Fin. Auth., Multi Family Housing Rev. Bonds (Capstone at Kinsey Cove Project), Series 2020-A, 0.35% 2023 (put 2023) 110 109
South East Gas Supply Dist., Gas Supply Rev. Bonds (Project No. 2), Series 2018-A, 4.00% 2049 (put 2024) 490 500
Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 2), Series 2021-B-1, 4.00% 2051 (put 2031) 145 147
Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 4), Series 2021-B-1, 5.00% 2053 (put 2028) 600 643
      3,669
Alaska 1.00%      
Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2020-A, 3.25% 2044 240 242
Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 2027 590 667
      909
Arizona 1.16%      
Board of Regents of the Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2026 300 336
Coconino County Pollution Control Corp., Pollution Control Rev. Ref. Bonds, Series 2017-B,
1.65% 2039 (put 2023) 		500 498
Industrial Dev. Auth., Hospital Rev. Bonds (Phoenix Children’s Hospital), Series 2021-A, 5.00% 2026 190 208
City of Phoenix Civic Improvement Corp., Water System Rev. Ref. Bonds, Series 2014-B, 5.00% 2024 15 16
      1,058
California 3.65%      
Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2021-C,
(SIFMA Municipal Swap Index + 0.45%) 1.78% 2056 (put 2026)1 		65 64
Trustees of the California State University, Systemwide Rev. Bonds, Series 2017-A, 5.00% 2026 120 136
Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-A, 5.00% 2027 115 128
Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-B-2, 0.55% 2049 (put 2026) 100 94
Fresno Unified School Dist., G.O. Bonds, 2016 Election, Series 2021-D, 2.00% 2024 15 15
Health Facs. Fncg. Auth., Rev. Bonds (Stanford Health Care), Series 2021-A, 3.00% 2054 (put 2025) 475 486
Infrastructure and Econ. Dev. Bank, Rev. Ref. Bonds (Los Angeles County Museum of Art Project),
Series 2021-B, 2.029% 2050 (put 2026)1 		100 99
City of Jurupa, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2020-A, BAM insured, 5.00% 2022 115 115
Municipal Fin. Auth., Multi Family Housing Rev. Bonds (Walnut Apartments), Series 2021-A,
0.45% 2024 (put 2023) 		75 73
Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2016-C, 5.00% 2026 565 638
City and County of San Francisco, G.O. Rev. Ref. Bonds, Series 2020-R-2, 5.00% 2023 135 139
Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project),
Series 2021-1, 5.00% 2023 		20 21
Capital Group Short-Term Municipal Fund — Page 27 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project),
Series 2021-1, 5.00% 2024 		USD5 $5
Southern California Public Power Auth., Transmission Project Rev. Bonds (Southern Transmission Project),
Series 2017-A, 5.00% 2023 		160 165
Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Villa Del Sol Apartments), Series 2021-A-2, 0.39% 2023 (put 2023) 80 79
Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Washington Court Apartments),
Series 2021-E, 0.22% 2023 (put 2022) 		35 35
Statewide Communities Dev. Auth., Rev. Ref. Bonds (Enloe Medical Center), Series 2015, 5.00% 2028 250 275
City of Tustin, Community Facs. Dist. No. 2014-1 (Tustin Legacy / Standard Pacific), Special Tax Bonds,
Series 2015-A, 5.00% 2027 		200 213
Regents of the University of California, Limited Project Rev. Bonds, Series 2022-S, 5.00% 2026 25 28
Val Verde Unified School Dist., G.O. Bonds, 2012 Election, Series 2013-A, BAM insured, 5.00% 2042 500 518
      3,326
Colorado 1.31%      
Board of Governors of the Colorado State University System, System Enterprise Rev. and Rev. Ref. Bonds,
Series 2016-B, 5.00% 2041 (preref. 2027) 		30 34
City and County of Denver, Airport System Rev. Bonds, Series 2022-B, 5.00% 2028 125 145
E-470 Public Highway Auth., Rev. Bonds, Series 2021-B, (USD-SOFR x 0.67 + 0.35%) 1.375% 2039 (put 2024)1 40 40
Health Facs. Auth., Rev. Bonds (Sanford Health), Series 2019-A, 5.00% 2022 325 328
Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-E, Class I, 3.00% 2051 200 200
Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-L, Class I, 3.25% 2051 205 206
Regents of the University of Colorado, University Enterprise Rev. and Rev. Ref. Bonds, Series 2019-C,
2.00% 2054 (put 2024) 		245 244
      1,197
Connecticut 3.22%      
Town of East Hartford, Housing Auth., Multi Family Housing Rev. Bonds (Veterans Terrace Project), Series 2021, 0.25% 2023 (put 2022) 45 45
Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2003-X-2, 0.25% 2037 (put 2024) 265 258
Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2017-C-1, 5.00% 2040 (put 2028) 705 817
Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2014-A, 1.10% 2048 (put 2023) 750 746
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-F-1, 3.50% 2043 285 289
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2014-C-1, 4.00% 2044 100 101
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2016-A-1, 4.00% 2045 60 61
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-A-1, 4.00% 2047 365 373
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2021-B-1, 3.00% 2049 120 120
Housing Fin. Auth., Housing Mortgage Fin. Program Rev. Ref. Bonds, Series 2015-C-1, 3.50% 2045 125 126
      2,936
Delaware 0.01%      
County of Harris, Metropolitan Transportation Auth., Sales and Use Tax Contractual Obligations, Series 2015-B, 5.00% 2025 5 6
District of Columbia 0.14%      
Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Kenilworth 166 Apartments Project),
Series 2021, 1.25% 2025 (put 2024) 		100 97
Rev. Ref. Bonds (National Public Radio, Inc. Issue), Series 2016, 5.00% 2028 (preref. 2028) 15 17
Rev. Ref. Bonds (National Public Radio, Inc. Issue), Series 2016, 5.00% 2029 (preref. 2029) 10 11
      125
Capital Group Short-Term Municipal Fund — Page 28 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Florida 2.67% 		  Principal amount
(000) 		Value
(000)
County of Brevard, Housing Fncg. Auth., Multi Family Mortgage Rev. Bonds (Tropical Manor Apartments),
Series 2021, 0.25% 2023 (put 2022) 		USD40 $40
County of Broward, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Solaris Apartments), Series 2021-B, 0.70% 2025 (put 2024) 85 82
City of Daytona Beach, Housing Auth., Multi Family Housing Rev. Bonds (The WM at the River Project),
Series 2021-B, 1.25% 2025 (put 2024) 		150 144
Board of Education, Public Education Capital Outlay Rev. Ref. Bonds, Series 2019-D, 5.00% 2023 15 15
Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-2, 4.25% 2050 255 263
Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2020-1, 3.50% 2051 50 51
JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 5.00% 2025 280 308
County of Miami-Dade, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds
(Waste Management, Inc. of Florida Project), Series 2007, 0.32% 2027 (put 2022) 		550 548
County of Miami-Dade, Water and Sewer System Rev. Ref. Bonds, Series 2008-B,
Assured Guaranty Municipal insured, 5.25% 2022 		195 196
County of Orange, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Stratford Point Apartments),
Series 2021-B, 0.55% 2025 (put 2024) 		190 183
County of Pinellas, Housing Fin. Auth., Multi Family Mortgage Backed Bonds (Jordan Park Apartments),
Series 2021-B, 0.65% 2025 (put 2024) 		130 125
County of Polk, Utility System Rev. and Rev. Ref. Bonds, Series 2013, BAM insured, 5.00% 2043 (preref. 2023) 110 114
City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 2024 100 105
City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 2025 75 81
City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 2026 100 109
Dept. of Transportation Fncg. Corp., Rev. Bonds, Series 2020, 5.00% 2024 65 69
      2,433
Georgia 3.26%      
City of Atlanta, Airport General Rev. Ref. Bonds, Series 2021-B, 5.00% 2027 430 490
City of Atlanta, Urban Residential Fin. Auth., Multi Family Housing Rev. Bonds
(Sylvan Hills Senior Apartments Project), Series 2020, 0.41% 2025 (put 2023) 		85 83
County of Dawson, Dev. Auth., Multi Family Housing Rev. Bonds (Peaks of Dawsonville Project), Series 2021, 0.28% 2023 500 491
County of Dekalb, Housing Auth., Multi Family Housing Rev. Bonds (Columbia Village Project), Series 2021-A, 0.34% 2024 (put 2023) 35 34
Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2015-A-1, 3.50% 2045 25 25
Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2017-A, 4.00% 2047 345 352
Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2019-C, 4.00% 2050 (put 2026) 500 511
Municipal Electric Auth., General Resolution Projects Bonds, Series 2021-A, 4.00% 2027 270 287
Municipal Electric Auth., Project One Bonds, Series 2021-A, 5.00% 2030 40 46
Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects),
Series 2021, 5.00% 2028 		35 40
City of Thomaston, Housing Auth., Multi Family Housing Rev. Bonds (Eastgate Apartments Project),
Series 2020-A, 0.34% 2023 (put 2022) 		500 496
County of Walker, Dev. Auth., Multi Family Housing Rev. Bonds (Gateway at Rossville Project), Series 2021-B, 0.46% 2024 (put 2023) 120 117
      2,972
Idaho 1.05%      
Health Facs. Auth., Rev. Bonds (St. Luke’s Health System Project), Series 2021-A, 5.00% 2027 50 56
Housing and Fin. Assn., Single Family Mortgage Bonds, Series 2019-A, 4.00% 2050 875 901
      957
Illinois 6.30%      
City of Chicago, Wastewater Transmission Rev. Bonds, Series 2014, 5.00% 2024 625 650
City of Chicago, Water Rev. Ref. Bonds, Series 2017, 5.00% 2022 540 544
Fin. Auth., Rev. Bonds (Art Institute of Chicago), Series 2016, 5.00% 2023 100 102
Capital Group Short-Term Municipal Fund — Page 29 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Illinois (continued) 		  Principal amount
(000) 		Value
(000)
Fin. Auth., Rev. Bonds (Art Institute of Chicago), Series 2016, 5.00% 2024 USD130 $136
Fin. Auth., Rev. Bonds (Centegra Health System), Series 2014-A, 5.00% 2027 (preref. 2024) 200 213
Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2020-B-2, 5.00% 2050 (put 2026) 40 44
Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 2023 225 229
Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021-B,
(SIFMA Municipal Swap Index + 0.70%) 2.03% 2042 (put 2026)1 		25 24
Fin. Auth., Rev. Bonds (Rehabilitation Institute of Chicago), Series 2013-A, 6.00% 2043 500 517
Fin. Auth., Rev. Bonds (University of Chicago), Series 2014-A, 5.00% 2023 200 208
Fin. Auth., Rev. Bonds (University of Chicago), Series 2021-A, 5.00% 2025 40 44
Fin. Auth., Rev. Ref. Bonds (Anne & Robert H. Lurie Children’s Hospital), Series 2017, 5.00% 2022 240 240
Housing Dev. Auth., Multi Family Housing Rev. Bonds, Series 2021-C, 0.80% 2026 80 76
Housing Dev. Auth., Multi Family Housing Rev. Bonds (Concord Commons), Series 2021, 0.25% 2024 (put 2023) 595 587
Housing Dev. Auth., Multi Family Housing Rev. Bonds (Marshall Field Garden Apartment Homes), Series 2015,
(SIFMA Municipal Swap Index + 1.00%) 2.33% 2050 (put 2025)1 		400 402
Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-A,
Assured Guaranty Municipal insured, 5.00% 2023 		500 510
Railsplitter Tobacco Settlement Auth., Tobacco Settlement Rev. Bonds, Series 2017, 5.00% 2023 310 318
Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-C, 5.00% 2023 190 193
Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-C, 5.00% 2025 45 48
Toll Highway Auth., Toll Highway Rev. Ref. Bonds, Series 2019-A, 5.00% 2023 175 178
Toll Highway Auth., Toll Highway Rev. Ref. Bonds, Series 2019-A, 5.00% 2025 250 269
Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Bonds, Series 2018-A, 5.00% 2024 200 210
      5,742
Indiana 2.52%      
Fin. Auth., Health System Rev. Bonds (Indiana University Health), Series 2019-C, 5.00% 2022 40 40
Fin. Auth., State Revolving Fund Program Green Bonds, Series 2021-B, 5.00% 2028 55 64
Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-1, 5.00% 2025 155 170
City of Franklin, Econ. Dev. and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2019-B, 5.00% 2023 510 524
Health Fac. Fncg. Auth., Rev. Bonds (Ascension Health Subordinate Credit Group), Series 2005-A-1, 4.00% 2023 15 15
Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2019-A, 4.25% 2048 215 222
Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.75% 2049 30 31
Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-C-1, 3.00% 2052 65 65
City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project),
Series 2019-I-2, 5.00% 2023 		230 233
City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project),
Series 2019-I-2, 5.00% 2024 		240 251
City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project),
Series 2019-I-2, 5.00% 2025 		255 274
City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Cityway 1 Project), Series 2021-B, 5.00% 2025 140 147
City of Kokomo, Multi Family Housing Rev. Bonds (KHA RAD I Apartments), Series 2021-A, 0.56% 2025 (put 2024) 265 257
      2,293
Iowa 0.86%      
PEFA, Inc., Gas Project Rev. Bonds, Series 2019, 5.00% 2049 (put 2026) 745 787
Kansas 0.04%      
Unified Government of Wyandotte County, Board of Public Utilities, Utility System Improvement Rev. Bonds, Series 2012-B, 5.00% 2026 (preref. 2022) 35 35
Capital Group Short-Term Municipal Fund — Page 30 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Kentucky 0.63% 		  Principal amount
(000) 		Value
(000)
Housing Corp., Multi Family Housing Rev. Bonds (Winterwood II Rural Housing Portfolio), Series 2021,
0.37% 2024 (put 2023) 		USD195 $189
Public Energy Auth., Gas Supply Rev. Bonds, Series 2019-A-1, 4.00% 2049 (put 2025) 320 329
Public Energy Auth., Gas Supply Rev. Bonds, Series 2018-B, 4.00% 2049 (put 2025) 55 56
      574
Louisiana 1.03%      
Housing Corp., Multi Family Housing Rev. Bonds (Hollywood Acres and Hollywood Heights Projects), Series 2019, 0.55% 2023 200 195
Housing Corp., Multi Family Housing Rev. Bonds (Mabry Place Townhomes Project), Series 2021,
0.31% 2024 (put 2023) 		55 54
Parish of Jefferson, Sales Tax Rev. Ref. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 2023 250 261
Offshore Terminal Auth., Deepwater Port Rev. Bonds (Loop, LLC Project), Series 2007-A, 1.65% 2027 (put 2023) 105 104
Parish of Tangipahoa, Hospital Service Dist. No. 1, Hospital Rev. Ref. Bonds (North Oaks Health System Project), Series 2021, 5.00% 2027 265 290
Tobacco Settlement Fncg. Corp., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2013-A, 5.00% 2023 30 31
      935
Maine 0.70%      
Housing Auth., Mortgage Purchase Bonds, Series 2017-A, 4.00% 2047 180 183
Housing Auth., Mortgage Purchase Bonds, Series 2021-D, 3.00% 2051 455 453
      636
Maryland 0.75%      
Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2020-D, 3.25% 2050 190 191
Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-C, 3.00% 2051 48 48
County of Montgomery, Housing Opportunities Commission, Single Family Housing Rev. Bonds, Series 2018-A, 4.00% 2049 325 333
Dept. of Transportation, Consolidated Transportation Rev. Ref. Bonds, Series 2015, 5.00% 2023 110 112
      684
Massachusetts 0.73%      
Dev. Fin. Agcy., Multi Family Housing Rev. Bonds (Salem Heights II Preservation Associates, LP Issue),
Series 2021-B, 0.25% 2024 (put 2023) 		50 49
Dev. Fin. Agcy., Rev. Ref. Bonds (Berkshire Health Systems Issue), Series 2021-I, 5.00% 2023 240 249
Housing Fin. Agcy., Housing Green Bonds, Series 2021-B-2, 0.75% 2025 15 14
Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 169, 4.00% 2044 20 20
Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 183, 3.50% 2046 185 187
Housing Fin. Agcy., Single Family Housing Rev. Ref. Bonds, Series 171, 4.00% 2044 35 35
Water Resources Auth., General Rev. Green Bonds, Series 2021-B, 5.00% 2026 95 107
      661
Michigan 2.54%      
City of Detroit, Water and Sewerage Dept., Sewage Disposal System Rev. and Rev. Ref. Bonds, Series 2012-A,
5.00% 2023 		700 704
Fin. Auth., Hospital Rev. Ref. Bonds (McLaren Health Care), Series 2015-D-1, 0.25% 2022 5 5
Housing Dev. Auth., Multi Family Housing Rev. Bonds, Series 2020, 0.32% 2023 (put 2022) 415 412
Housing Dev. Auth., Rental Housing Rev. Bonds, Series 2021-A, 0.55% 2025 50 48
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2017-B, 3.50% 2048 70 71
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-C, 4.25% 2049 220 227
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-A, 5.00% 2053 135 146
Capital Group Short-Term Municipal Fund — Page 31 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Michigan (continued) 		  Principal amount
(000) 		Value
(000)
City of Lansing, Board of Water and Light, Utility System Rev. Bonds, Series 2019-A, 5.00% 2024 USD375 $398
County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2018-C, 5.00% 2023 290 303
      2,314
Minnesota 2.05%      
City of Hopkins, Multi Family Housing Rev. Bonds (Raspberry Ridge Project), Series 2021, 0.26% 2024 (put 2023) 145 143
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2018-B, 4.00% 2048 325 332
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2018-E, 4.25% 2049 500 518
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-E, 3.50% 2050 445 452
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2022-A, 3.00% 2052 80 79
Municipal Gas Agcy., Commodity Supply Rev. Bonds, Series 2022-A, 4.00% 2052 (put 2027) 330 343
      1,867
Mississippi 0.12%      
Home Corp., Collateralized Multi Family Housing Rev. Bonds (J&A Dev. Portfolio Project I), Series 2021-1,
0.30% 2024 (put 2023) 		60 59
Home Corp., Multi Family Housing Rev. Bonds (Southwest Village Apartments Project), Series 2022-2,
1.30% 2025 (put 2024) 		50 50
      109
Missouri 0.74%      
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2016-B, 3.50% 2041 475 480
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-A, 3.00% 2052 60 60
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-C, 3.25% 2052 50 50
County of St. Charles, Industrial Dev. Auth., Multi Family Housing Rev. Bonds (Hidden Valley Estates), Series 2021, 0.27% 2025 (put 2023) 85 82
      672
Montana 0.35%      
Board of Housing, Single Family Mortgage Bonds, Series 2016-A-2, 3.50% 2044 85 86
Board of Housing, Single Family Mortgage Bonds, Series 2019-A, 4.25% 2045 105 108
Board of Housing, Single Family Mortgage Bonds, Series 2020-B, 4.00% 2050 125 129
      323
Nebraska 1.01%      
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2014-A, 4.00% 2044 175 177
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2016-C, 3.50% 2046 10 10
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-C, 4.00% 2048 370 379
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2021-C, 3.00% 2050 350 350
      916
Nevada 0.76%      
County of Clark, Pollution Control Rev. Ref. Bonds (Nevada Power Co. Projects), Series 2017,
1.65% 2036 (put 2023) 		645 642
Housing Division, Multi Family Housing Rev. Bonds (Southwest Village Apartments), Series 2021,
0.47% 2024 (put 2023) 		50 49
      691
Capital Group Short-Term Municipal Fund — Page 32 of 77
unaudited
Bonds, notes & other debt instruments (continued)
New Jersey 1.15% 		  Principal amount
(000) 		Value
(000)
Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020-A, 1.00% 2023 USD275 $272
Housing and Mortgage Fin. Agcy., Multi Family Conduit Rev. Bonds (Browns Woods Apartments Project),
Series 2021-A, 1.25% 2024 (put 2023) 		100 99
Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2018-A, 4.50% 2048 420 438
Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.00% 2023 200 205
Turnpike Auth., Turnpike Rev. Bonds, Series 2020-D, 5.00% 2028 30 33
      1,047
New Mexico 0.16%      
Municipal Energy Acquisition Auth., Gas Supply Rev. Ref. and Acquisition Bonds, Series 2019,
5.00% 2039 (put 2025) 		135 144
New York 7.14%      
Build NYC Resource Corp., Rev. Ref. Bonds (Ethical Culture Fieldston School Project), Series 2015, 5.00% 2024 360 379
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2022-A, 5.00% 2027 335 380
City of Geneva Dev. Corp., Rev. Ref. Bonds (Hobart and William Smith Colleges Project), Series 2012,
5.00% 2032 (preref. 2022) 		40 40
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-K, 0.70% 2024 85 82
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-L-2, 0.75% 2025 750 703
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-D-2, 0.65% 2056 (put 2025) 195 181
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-I-2, 0.70% 2056 (put 2025) 190 179
Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-J-2, 1.10% 2061 (put 2027) 470 433
Long Island Power Auth., Electric System General Rev. Bonds, Series 2014-C,
(1-month USD-LIBOR x 0.70 + 0.75%) 1.949% 2033 (put 2023)1 		300 300
Long Island Power Auth., Electric System General Rev. Bonds, Series 2015-C,
(1-month USD-LIBOR x 0.70 + 0.75%) 1.949% 2033 (put 2023)1 		260 260
Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2012-B, 5.00% 2022 195 197
Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2012-F, 5.00% 2022 230 232
Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2002-D-2-B,
Assured Guaranty Municipal insured, (USD-SOFR x 0.67 + 0.55%) 1.575% 2032 (put 2024)1 		255 251
Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2002-D-2-A-2,
Assured Guaranty Municipal insured, (USD-SOFR x 0.67 + 0.80%) 1.825% 2032 (put 2026)1 		60 58
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 197, 3.50% 2044 150 152
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 233, 3.00% 2045 300 300
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 213, 4.25% 2047 455 469
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 239, 3.25% 2051 30 30
New York City G.O. Bonds, Series 2014-I-1, 5.00% 2026 185 194
New York City G.O. Bonds, Series 2021-A-1, 5.00% 2033 15 18
New York City G.O. Bonds, Series 2015-F-4, 5.00% 2044 (put 2025) 75 80
New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2021-C-2, 0.70% 2060 (put 2025) 330 311
New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds),
Series 2020-I-2, 0.70% 2060 (put 2025) 		230 218
New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds),
Series 2021-F-2, 0.60% 2061 (put 2025) 		220 207
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-E-1, 5.00% 2023 20 20
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2018-1, 5.00% 2025 30 33
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2013-I, 5.00% 2027 180 184
Utility Debt Securitization Auth., Restructuring Bonds, Series 2017, 5.00% 2025 10 11
Capital Group Short-Term Municipal Fund — Page 33 of 77
unaudited
Bonds, notes & other debt instruments (continued)
New York (continued) 		  Principal amount
(000) 		Value
(000)
County of Westchester, Industrial Dev. Agcy., Multi Family Housing Rev. Bonds
(EG Mt. Vernon Preservation, LP Project), Series 2020, 0.30% 2023 (put 2022) 		USD155 $154
County of Westchester, Industrial Dev. Agcy., Multi Family Housing Rev. Bonds
(Marble Hall - Tuckahoe, LP Project), Series 2021, 0.28% 2024 (put 2023) 		455 448
      6,504
North Carolina 1.30%      
City of Durham, Housing Auth., Multi Family Housing Rev. Bonds (JJ Henderson Apartments Project), Series 2020,
0.30% 2024 (put 2023) 		20 19
Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 38-B, 4.00% 2047 180 184
Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 42, 4.00% 2050 65 67
Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 44, 4.00% 2050 60 62
Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Winds Crest Senior Living, LP), Series 2021,
0.36% 2024 (put 2023) 		105 104
City of Sanford, Housing Auth., Multi Family Housing Rev. Bonds (Matthews Garden Gilmore), Series 2020, 0.30% 2023 (put 2022) 750 747
      1,183
North Dakota 0.66%      
Housing Fin. Agcy., Homeownership Rev. Bonds (Home Mortgage Fin. Program), Series 2016-D, 3.50% 2046 95 96
Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2015-A, 4.00% 2038 220 222
Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2015-D, 4.00% 2046 160 163
Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-B, 3.00% 2052 120 119
      600
Ohio 3.05%      
City of Dayton, Metropolitan Housing Auth., Multi Family Housing Rev. Bonds
(Southern Montgomery Apartments Project), Series 2021-A, 0.32% 2024 (put 2023) 		200 195
County of Geauga, Rev. Bonds (South Franklin Circle Project), Series 2012-A, 8.00% 2047 (preref. 2022)2 880 921
Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 2023 10 10
Hospital Rev. Ref. Bonds (Cleveland Clinic Health System Obligated Group), Series 2021-B, 5.00% 2024 310 325
Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Chevybrook Estates Apartments Project), Series 2021, 0.35% 2024 (put 2023) 50 49
Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Glen Meadows Apartments Project), Series 2021-A, 0.40% 2024 (put 2023) 80 78
Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Marianna Terrace Apartments), Series 2022-A,
1.30% 2025 (put 2024) 		40 39
Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Pinzone Tower Apartments Project), Series 2021, 0.28% 2023 (put 2022) 190 189
Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2017-D, 4.00% 2048 60 61
Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2019-A, 4.50% 2049 170 177
Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2020-A, 3.75% 2050 130 133
Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2021-C, 3.25% 2051 225 227
County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children’s Hospital), Series 2021, 5.00% 2029 30 35
County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children’s Hospital), Series 2021, 5.00% 2032 160 184
Turnpike and Infrastructure Commission, Rev. Bonds, Series 2013-A-1, 5.00% 2025 125 127
Water Dev. Auth., Water Dev. Rev. Bonds, Series 2013-A, 5.00% 2023 25 26
      2,776
Capital Group Short-Term Municipal Fund — Page 34 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Oklahoma 0.99% 		  Principal amount
(000) 		Value
(000)
Capital Improvement Auth., State Highways Capital Improvement Rev. Ref. Bonds
(Oklahoma Dept. of Transportation Project), Series 2020-A, 5.00% 2023 		USD145 $150
Board of Regents of Oklahoma State University, General Rev. Ref. Bonds, Series 2020-A, 5.00% 2024 275 293
Board of Regents of Oklahoma State University, General Rev. Ref. Bonds, Series 2020-A, 5.00% 2025 420 460
      903
Oregon 0.18%      
Housing and Community Services Dept., Housing Dev. Rev. Bonds (The Susan Emmons Apartments Project), Series 2021-S-2, 0.38% 2024 (put 2023) 115 112
Housing and Community Services Dept., Housing Dev. Rev. Bonds (Westwind Apartments Project),
Series 2021-H, 0.25% 2024 (put 2023) 		50 49
      161
Pennsylvania 2.51%      
Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-C,
(USD-SOFR x 0.67 + 0.35%) 1.375% 2030 (put 2025)1 		50 48
Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-B,
(USD-SOFR x 0.67 + 0.35%) 1.375% 2031 (put 2025)1 		70 68
Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-C,
(USD-SOFR x 0.67 + 0.35%) 1.375% 2032 (put 2025)1 		55 53
Cumberland Valley School Dist., G.O. Bonds, Series 2015, 5.00% 2032 (preref. 2023) 20 21
Cumberland Valley School Dist., G.O. Bonds, Series 2015, 5.00% 2034 (preref. 2023) 20 21
Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-122, 4.00% 2046 180 183
Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2020-133, 3.00% 2050 335 335
Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-137, 3.00% 2051 190 188
Housing Fin. Agcy., Special Limited Obligation, Multi Family Housing Dev. Bonds
(Harrison Senior Tower), Series 2021, 0.25% 2024 (put 2023) 		760 742
Housing Fin. Agcy., Special Limited Obligation, Multi Family Housing Dev. Bonds (School of Nursing),
Series 2021, 0.27% 2024 (put 2023) 		85 83
Philadelphia School Dist., G.O. Bonds, Series 2021-A, 5.00% 2027 190 216
Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 5.00% 2022 95 96
Wilkes-Barre Area School Dist., G.O. Bonds, Series 2019, BAM insured, 5.00% 2023 225 230
      2,284
Rhode Island 0.06%      
Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 66-A-1, 4.00% 2033 55 55
South Carolina 1.82%      
City of Columbia, Housing Auth., Multi Family Housing Rev. Bonds (Palmetto Terrace Apartments Project),
Series 2021, 0.31% 2024 (put 2023) 		130 128
Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2018-A, 4.50% 2048 185 191
Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2020-A, 4.00% 2050 145 150
Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2021-A, 3.00% 2052 80 80
Housing Fin. and Dev. Auth., Mortgage Rev. Ref. Bonds, Series 2016-A, 4.00% 2036 165 169
Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (Villages at Congaree Pointe Project),
Series 2021-B, 1.25% 2025 (put 2024) 		100 98
Public Service Auth., Rev. Obligations (Santee Cooper), Series 2014-C, 5.00% 2025 120 127
Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2015-A, 5.00% 2028 35 37
Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-A, 5.00% 2022 400 404
City of Spartanburg, Housing Auth., Multi Family Housing Rev. Bonds (Connecticut Village Apartments),
Series 2022, 1.05% 2025 (put 2023) 		125 124
Spartanburg Regional Health Services Dist., Hospital Rev. Ref. Bonds, Series 2022, 5.00% 2028 135 151
      1,659
Capital Group Short-Term Municipal Fund — Page 35 of 77
unaudited
Bonds, notes & other debt instruments (continued)
South Dakota 0.77% 		  Principal amount
(000) 		Value
(000)
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2014-E, 4.00% 2044 USD50 $51
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2018-B, 4.50% 2048 300 311
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2021-B, 3.00% 2051 245 244
Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2022-C, 5.00% 2053 90 98
      704
Tennessee 2.58%      
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-1, 4.00% 2042 165 169
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2014-2-A, 4.00% 2045 415 422
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2014-2-C, 4.00% 2045 165 167
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-2-A, 3.75% 2050 240 246
Knoxville Community Dev. Corp., Collateralized Multi Family Housing Rev. Bonds
(Austin 1B Apartments Project), Series 2021, 0.22% 2024 (put 2023) 		40 39
City of Memphis, Health, Educational and Housing Facs. Board, Collateralized Multi Family Housing Rev. Bonds (Tillman Cove Apartments), Series 2020, 0.55% 2024 (put 2024) 590 563
Metropolitan Government of Nashville and Davidson County, Health and Educational Facs. Board, Rev. Bonds (Vanderbilt University Medical Center), Series 2021-A, 5.00% 2031 205 237
Tennessee Energy Acquisition Corp., Gas Project Rev. Bonds, Series 2017-A, 4.00% 2048 (put 2023) 500 506
      2,349
Texas 18.04%      
Affordable Housing Corp., Multi Family Housing Rev. Bonds (Apartments of Las Palmas I, LLC), Series 2021, 0.25% 2024 (put 2022) 15 15
Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Uplift Education), Series 2017-A, 5.00% 2022 645 652
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2021-A, 4.00% 2025 15 16
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2021-A, 4.00% 2026 15 16
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Harmony Public Schools), Series 2016-A, 5.00% 2024 310 326
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2019, 5.00% 2022 350 350
Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2019, 5.00% 2025 800 872
Austin Affordable PFC, Inc., Multi Family Housing Rev. Bonds (Bridge at Turtle Creek Apartments), Series 2020, 0.42% 2040 (put 2023) 215 209
City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2020-C, 5.00% 2025 510 563
County of Bexar, Combination Tax and Rev. Certs. of Obligation, Series 2013-B, 5.00% 2033 (preref. 2023) 105 108
Cameron County Housing Fin. Corp., Multi Family Housing Rev. Bonds (Sunland Country Apartments),
Series 2021, 0.28% 2024 (put 2023) 		50 49
Capital Area Housing Fin. Corp., Multi Family Housing Rev. Bonds (Redwood Apartments), Series 2020, 0.41% 2041 (put 2024) 460 447
Clear Creek Independent School Dist., Unlimited Tax School Building Bonds, Series 2013-B,
0.28% 2038 (put 2024) 		100 95
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 2023 5 5
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 2024 5 5
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 2025 10 11
Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 2026 5 6
Cypress-Fairbanks Independent School Dist., Unlimited Tax School Building Bonds, Series 2015-B-2,
0.28% 2040 (put 2024) 		200 193
Cities of Dallas and Fort Worth, Dallas/Fort Worth International Airport, Joint Rev. Ref. Bonds, Series 2014-E, 5.00% 2023 370 373
City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Midpark Towers), Series 2021,
0.35% 2024 (put 2023) 		180 177
Capital Group Short-Term Municipal Fund — Page 36 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Texas (continued) 		  Principal amount
(000) 		Value
(000)
Dallas Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2015, 5.00% 2030 (preref. 2025) USD400 $431
Del Mar College Dist., Limited Tax Bonds, Series 2020-B, 5.00% 2024 400 426
Del Mar College Dist., Limited Tax Bonds, Series 2020-A, 5.00% 2026 335 373
El Paso Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2015, 5.00% 2026 400 427
Fort Bend Grand Parkway Toll Road Auth., Limited Contract Tax and Toll Road Rev. Ref. Bonds, Series 2021-A, 5.00% 2028 120 138
Fort Bend Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 2024 130 139
Fort Bend Independent School Dist., Unlimited Tax School Building Bonds, Series 2019-A,
1.95% 2049 (put 2022)2 		420 420
G.O. Water Financial Assistance Rev. Ref. Bonds, Series 2021-B, 4.00% 2030 50 53
Galveston Public Fac. Corp., Multi Family Housing Rev. Bonds (The Orleanders at Broadway), Series 2021,
0.47% 2025 (put 2024) 		150 143
Garland Independent School Dist., Unlimited Tax School Building Bonds, Series 2016, 5.00% 2030 400 429
Goose Creek Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2019-B,
0.15% 2049 (put 2022) 		140 140
Harlandale Independent School Dist., Maintenance Tax Notes, Series 2021, BAM insured, 2.00% 2040 (put 2024) 50 50
Harlandale Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 0.75% 2045 (put 2025) 100 96
County of Harris, Toll Road Rev. and Rev. Ref. Bonds, Series 2018-A, 5.00% 2024 150 160
Harris County Cultural Education Facs. Fin. Corp., Medical Facs. Mortgage Rev. Ref. Bonds
(Baylor College of Medicine), Series 2019-A, (3-month USD-LIBOR x 0.70 + 0.65%) 1.849% 2046 (put 2024)1 		130 130
Harris County Cultural Education Facs. Fin. Corp., Rev. Bonds (Texas Medical Center), Series 2020-A,
0.90% 2050 (put 2025) 		130 124
Harris County Health Facs. Dev. Corp., Rev. Ref. Bonds (CHRISTUS Health), Series 2005-A-4,
Assured Guaranty Municipal insured, 0.05% 20311 		100 100
Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (Corona Del Valle), Series 2021, 0.37% 2025 (put 2023) 50 49
Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (Oso Bay Apartments), Series 2021, 0.27% 2024 (put 2022) 100 100
Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds
(Palladium Simpson Stuart Apartments), Series 2021, 0.35% 2025 (put 2024) 		165 160
Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (The Park at Kirkstall), Series 2021, 0.65% 2025 (put 2024) 325 311
Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2021-A, 3.00% 2052 305 304
Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2018-A, 4.75% 2049 330 343
Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2019-A, 4.00% 2050 365 378
Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2020-A, 3.50% 2051 125 127
Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 2052 815 811
Housing Options, Inc., Multi Family Housing Rev. Bonds (Brooks Manor - The Oaks Project), Series 2021,
0.50% 2041 (put 2025) 		100 95
City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2019-B, 2.00% 2024 615 620
City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds,
Series 2021, 4.00% 2022 		10 10
City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds,
Series 2021, 4.00% 2023 		15 15
Medina Valley Independent School Dist., Unlimited Tax School Building Bonds, Series 2021,
0.82% 2051 (put 2026) 		90 84
Municipal Gas Acquisition and Supply Corp. I, Gas Supply Rev. Bonds, Series 2008-D, 6.25% 2026 150 162
Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 2022 10 10
Nacogdoches Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 2027 485 550
North Central Texas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Bluebonnet Ridge Apartments),
Series 2021, 0.375% 2040 (put 2024) 		85 81
North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2014-A, 5.00% 2024 395 413
Northside Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 0.70% 2050 (put 2025) 1,000 959
Odessa Housing Fin. Corp., Multi Family Housing Rev. Bonds (Cove in Odessa Apartments), Series 2021, 0.37% 2024 (put 2023) 230 222
Capital Group Short-Term Municipal Fund — Page 37 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Texas (continued) 		  Principal amount
(000) 		Value
(000)
Plano Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 2023 USD135 $138
Prosper Independent School Dist., Unlimited Tax School Building Bonds, Series 2019-B, 2.00% 2050 (put 2023) 210 211
County of Rockwall, Permanent Improvement and Rev. Ref. Bonds, Series 2020, 5.00% 2024 200 210
County of Rockwall, Permanent Improvement and Rev. Ref. Bonds, Series 2020, 5.00% 2025 250 270
County of Rockwall, Permanent Improvement and Rev. Ref. Bonds, Series 2020, 5.00% 2026 260 288
City of San Antonio, Electric and Gas Systems Rev. Bonds, Series 2015-D, 1.125% 2045 (put 2026) 230 217
City of San Antonio, Electric and Gas Systems Rev. Bonds, Series 2013, 5.00% 2048 (preref. 2023) 140 142
City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2023 60 61
City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2027 90 101
San Antonio Housing Trust Fin. Corp., Multi Family Housing Rev. Bonds
(The Arbors at West Avenue Apartments), Series 2022, 1.45% 2026 (put 2025) 		90 88
Tomball Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2023 80 82
Tomball Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2024 30 32
Transportation Commission, G.O. Mobility Fund Bonds, Series 2014-B, 0.65% 2041 (put 2026) 500 469
Water Dev. Board, State Water Implementation Rev. Fund of Texas Rev. Bonds (Master Trust), Series 2018-B, 5.00% 2023 45 46
      16,426
Utah 0.87%      
Housing Corp., Single Family Mortgage Bonds, Class III, Series 2015-D-2, 4.00% 2045 145 148
Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 5.00% 2024 275 291
County of Salt Lake, Board of Education, G.O. Rev. Ref. Bonds (Utah School Bond Guaranty Act), Series 2021, 5.00% 2024 250 265
Transit Auth., Sales Tax Rev. Bonds, Series 2008-A, 5.25% 2023 15 15
City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021,
Assured Guaranty Municipal insured, 5.00% 2024 		65 69
      788
Vermont 0.04%      
Housing Fin. Agcy., Multiple Purpose Bonds, Series 2020-A, 3.75% 2050 40 41
Virginia 1.49%      
County of Arlington, Industrial Dev. Auth., Hospital Rev. Bonds (Virginia Hospital Center), Series 2020, 5.00% 2025 130 140
County of Fairfax, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Arrowbrook Apartments Project), Series 2020, 0.41% 2041 (put 2024) 500 480
County of Fairfax, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Oakwood North Four Project), Series 2021, 0.41% 2025 (put 2024) 570 549
City of Hopewell, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Hopewell Heights Apartments), Series 2021-A, 0.49% 2024 (put 2023) 85 83
City of Lynchburg, Econ. Dev. Auth., Hospital Rev. and Rev. Ref. Bonds (Centra Health Obligated Group),
Series 2021, 5.00% 2029 		95 106
      1,358
Washington 1.81%      
Central Puget Sound Regional Transit Auth., Sales Tax and Motor Vehicle Excise Tax Improvement and Rev. Ref. Green Bonds, Series 2021-S-1, 5.00% 2028 65 76
City of Everett, Housing Auth., Multi Family Housing Rev. Bonds (Baker Heights Legacy), Series 2021,
0.30% 2024 (put 2023) 		80 78
Housing Fin. Commission, Multi Family Housing Rev. Bonds (Garten Haus Apartments Project), Series 2021, 0.37% 2024 (put 2023) 45 44
Housing Fin. Commission, Single Family Program Bonds, Series 2017-1-N, 4.00% 2047 215 219
Housing Fin. Commission, Single Family Program Bonds, Series 2020-1-N, 4.00% 2050 335 345
Housing Fin. Commission, Single Family Program Bonds, Series 2021-2-N, 3.00% 2051 90 90
Capital Group Short-Term Municipal Fund — Page 38 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Washington (continued) 		  Principal amount
(000) 		Value
(000)
City of Seattle, Housing Auth., Rev. and Rev. Ref. Bonds (Northgate Plaza Project), Series 2021, 1.00% 2026 USD70 $67
City of Seattle, Housing Auth., Rev. Bonds (Lam Bow Apartments Project), Series 2021, 1.25% 2024 15 15
City of Seattle, Municipal Light and Power Rev. Ref. Bonds, Series 2021-B,
(SIFMA Municipal Swap Index + 0.25%) 1.58% 2045 (put 2026)1 		115 114
City of Seattle, Municipal Light and Power Rev. Ref. Bonds, Series 2018-C-2,
(SIFMA Municipal Swap Index + 0.49%) 1.82% 2046 (put 2023)1 		325 325
University of Washington, General Rev. Ref. Bonds, Series 2020-C, 5.00% 2025 250 272
      1,645
West Virginia 0.10%      
G.O. State Road Bonds, Series 2021-A, 5.00% 2025 15 17
Housing Dev. Fund, Multi Family Housing Rev. Bonds (Charles Towers), Series 2021, 0.21% 2023 (put 2022) 75 75
      92
Wisconsin 2.31%      
Health and Educational Facs. Auth., Rev. Bonds (Advocate Aurora Health Care Credit Group), Series 2018-C-3, (SIFMA Municipal Swap Index + 0.55%) 1.88% 2054 (put 2023)1 340 339
Health and Educational Facs. Auth., Rev. Bonds (Gundersen Lutheran), Series 2020, 5.00% 20263 660 720
Health and Educational Facs. Auth., Rev. Ref. Bonds (Ministry Health Care, Inc.), Series 2012-C,
5.00% 2027 (preref. 2022) 		210 210
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2017-C, 4.00% 2048 180 184
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2020-A, 3.50% 2050 330 335
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-A, 3.00% 2052 30 30
Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-B, 0.40% 2045 (put 2023) 25 24
Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-B, 0.50% 2050 (put 2024) 35 33
Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-C, 0.81% 2052 (put 2025) 110 105
Public Fin. Auth., Rev. Ref. Bonds (Providence St. Joseph Health), Series 2021-C, 4.00% 2041 (put 2030) 115 124
      2,104
Wyoming 0.18%      
Community Dev. Auth., Housing Rev. Bonds, Series 2020-1, 4.00% 2050 160 165
Total bonds, notes & other debt instruments (cost: $83,681,000)     81,815
Short-term securities 12.38%
Municipals 12.38% 		     
State of California, Kern Community College Dist., Facs. Improvement Dist. No. 1, G.O. Bond Anticipation Notes, Capital Appreciation Notes, Series 2020, 0% 2023 45 44
State of California, Regents of the University of California, General Rev. Bonds, Series 2013-AL-2, 1.65% 20481 3,500 3,500
State of Massachusetts, Housing Fin. Agcy., Single Family Housing Notes, Series 2021, 0.25% 12/1/2022 40 40
State of Michigan, Regents of the University of Michigan, General Rev. Bonds, Series 2008-A, 1.80% 20381 1,500 1,500
State of Missouri, Health and Educational Facs. Auth., Demand Educational Facs. Rev. Bonds
(Washington University), Series 2000-B, 1.87% 20401 		1,600 1,600
State of Nevada, Housing Division, Single Family Mortgage Rev. Bonds, Series 2021-D, 0.25% 12/1/2022 65 65
State of Ohio, Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2013-B-3, 1.95% 20391 3,570 3,570
State of South Carolina, Jobs-Econ. Dev. Auth., Hospital Rev. Bonds (Prisma Health Obligated Group),
Series 2018-B, 1.96% 20481 		700 700
Capital Group Short-Term Municipal Fund — Page 39 of 77
unaudited
Short-term securities (continued)
Municipals (continued) 		  Principal amount
(000) 		Value
(000)
State of Texas, Deer Park Independent School Dist., Unlimited Tax School Building Bonds, Series 2018, 0.16% 2042 (put 2022)4 USD225 $224
State of Texas, North East Independent School Dist., Unlimited Tax School Building Bonds, Series 2013-B, 0.25% 2032 (put 2022)4 35 35
Total short-term securities (cost: $11,279,000)     11,278
Total investment securities 102.22% (cost: $94,960,000)     93,093
Other assets less liabilities (2.22%)     (2,024)
Net assets 100.00%     $91,069
Futures contracts
Contracts Type Number of
contracts 		Expiration Notional
amount
(000) 		Value and
unrealized
appreciation
(depreciation)
at 7/31/2022
(000)
5 Year U.S. Treasury Note Futures Long 47 September 2022 USD5,345 $104
10 Year Ultra U.S. Treasury Note Futures Short 19 September 2022 (2,494) (91)
          $13
1 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. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date.
2 Step bond; coupon rate may change at a later date.
3 Acquired in a transaction exempt from registration under Rule 144A 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 $720,000, which represented .79% of the net assets of the fund.
4 For short-term securities, the mandatory put date is considered to be the maturity date.
Key to abbreviations
Agcy. = Agency
Assn. = Association
Auth. = Authority
Certs. = Certificates
Dept. = Department
Dev. = Development
Dist. = District
Econ. = Economic
Fac. = Facility
Facs. = Facilities
Fin. = Finance
Fncg. = Financing
G.O. = General Obligation
LIBOR = London Interbank Offered Rate
Preref. = Prerefunded
Redev. = Redevelopment
Ref. = Refunding
Rev. = Revenue
SIFMA = Securities Industry and Financial Markets Association
SOFR = Secured Overnight Financing Rate
USD = U.S. dollars
Capital Group Short-Term Municipal Fund — Page 40 of 77
Capital Group California Core Municipal Fund
Investment portfolio
July 31, 2022
unaudited
Bonds, notes & other debt instruments 82.30%
California 81.75% 		  Principal amount
(000) 		Value
(000)
Alameda Corridor Transportation Auth., Rev. Ref. Bonds, Series 2013-A, 5.00% 2022 (escrowed to maturity) USD975 $981
Alameda Corridor Transportation Auth., Rev. Ref. Bonds, Series 2016-A, 5.00% 2024 600 633
Alameda Corridor Transportation Auth., Rev. Ref. Bonds, Series 2016-A, 5.00% 2025 500 539
City of Alhambra, Insured Rev. Ref. Bonds (Atherton Baptist Homes Project), Series 2016, 5.00% 2027 630 695
City of Anaheim, Public Fncg. Auth., Lease Rev. Bonds (Anaheim Public Improvement Project),
Capital Appreciation Bonds, Series 1997-C, Assured Guaranty Municipal insured, 0% 2022 		2,000 1,997
Antelope Valley Community College Dist., G.O. Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2015, 0% 2035 (preref. 2025) 2,300 1,410
Antelope Valley Community College Dist., G.O. Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2015, 0% 2036 (preref. 2025) 2,800 1,642
Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Rev. Ref. Bonds
(Eskaton Properties, Inc. Obligated Group), Series 2013, 5.00% 2022 		1,000 1,006
Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Rev. Ref. Bonds
(Eskaton Properties, Inc. Obligated Group), Series 2013, 5.00% 2023 		500 512
Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Rev. Ref. Bonds
(Windemere Ranch Infrastructure Fncg. Program), Series 2014-A, 5.00% 2023 		370 384
Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Rev. Ref. Bonds
(Windemere Ranch Infrastructure Fncg. Program), Series 2014-A, 5.00% 2024 		395 421
Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Rev. Ref. Bonds
(Windemere Ranch Infrastructure Fncg. Program), Series 2014-A, 5.00% 2025 		510 544
Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2001-A,
(SIFMA Municipal Swap Index + 1.25%) 2.58% 2036 (put 2027)1 		1,000 1,008
Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2013-S-4, 5.00% 2043 (preref. 2023) 1,000 1,023
Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2008-B-1,
(SIFMA Municipal Swap Index + 1.10%) 2.43% 2045 (put 2024)1 		4,275 4,300
Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2021-D,
(SIFMA Municipal Swap Index + 0.30%) 1.63% 2056 (put 2027)1 		1,895 1,834
Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Ref. Bonds, Series 2017-S-7, 5.00% 2024 1,200 1,267
Bay Area Water Supply and Conservation Agcy., Rev. Bonds, Series 2013-A, 5.00% 2023 500 511
City of Beaumont, Wastewater Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2026 500 561
City of Burbank, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Redev. Bonds, Series 2015,
BAM insured, 5.00% 2022 		1,305 1,320
California County Tobacco Securitization Agcy., Tobacco Settlement Rev. Bonds
(Los Angeles County Securitization Corp.), Series 2020-A, 5.00% 2026 		600 650
Trustees of the California State University, Systemwide Rev. Bonds, Series 2015-A, 5.00% 2024 500 537
Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-A, 5.00% 2028 2,705 3,009
Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-B-2, 0.55% 2049 (put 2026) 1,980 1,857
Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-B-3, 4.00% 2051 (put 2023) 2,500 2,540
City of Carlsbad, Reassessment Dist. No. 2012-1, Limited Obligation Rev. Ref. Bonds, Series 2013, 3.55% 2023 350 351
Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds
(Merged Redev. Project Area), Series 2021-C, BAM insured, 4.00% 2022 		200 200
Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds
(Merged Redev. Project Area), Series 2021-C, BAM insured, 4.00% 2023 		225 229
Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds
(Merged Redev. Project Area), Series 2014-B, Assured Guaranty Municipal insured, 5.00% 2024 		260 275
Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds
(Merged Redev. Project Area), Series 2014-A, Assured Guaranty Municipal insured, 5.00% 2025 		620 657
Capital Group California Core Municipal Fund — Page 41 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
Cerritos Community College Dist., G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2012-D, 0% 2027 USD830 $737
City of Chino, Community Facs. Dist. No. 2003-3, Special Tax Bonds, Series 2021, 4.00% 2027 465 482
City of Chino, Community Facs. Dist. No. 2003-3, Special Tax Bonds, Series 2021, 4.00% 2028 480 495
City of Chino, Community Facs. Dist. No. 2003-3, Special Tax Bonds, Series 2021, 4.00% 2029 500 517
City of Chino, Community Facs. Dist. No. 2003-3, Special Tax Bonds, Series 2021, 4.00% 2030 520 532
City of Chino, Community Facs. Dist. No. 2003-3, Special Tax Bonds, Series 2021, 4.00% 2031 540 551
City of Chino, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2014-A, BAM insured, 5.00% 2022 450 451
City of Chino, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2014-A, BAM insured, 5.00% 2025 665 706
City of Chino Hills, Fin. Auth., Rev. Ref. Bonds (Community Facs. Dist. Bond Program), Series 2019-D, 5.00% 2024 465 489
City of Chino Hills, Fin. Auth., Rev. Ref. Bonds (Community Facs. Dist. Bond Program), Series 2019-D, 5.00% 2026 780 851
City of Chino Hills, Fin. Auth., Rev. Ref. Bonds (Community Facs. Dist. Bond Program), Series 2019-D, 5.00% 2027 430 476
City of Chino Hills, Fin. Auth., Rev. Ref. Bonds (Community Facs. Dist. Bond Program), Series 2019-D, 5.00% 2028 355 397
City of Chino Hills, Fin. Auth., Rev. Ref. Bonds (Community Facs. Dist. Bond Program), Series 2019-D, 5.00% 2029 225 254
City of Chino Hills, Fin. Auth., Rev. Ref. Bonds (Community Facs. Dist. Bond Program), Series 2019-D, 5.00% 2030 60 68
City of Chula Vista, Municipal Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2013, 5.00% 2022 1,355 1,359
Clovis Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2006-B,
National insured, 0% 2030 		1,000 796
Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 4.00% 2052 (put 2031) 7,475 7,704
Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-A, 4.00% 2052 (put 2027) 4,570 4,730
Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2022-A-1, 4.00% 2053 (put 2028) 5,670 5,899
Compton Community College Dist., G.O. Rev. Ref. Bonds, Series 2014, BAM insured, 5.00% 2026 (preref. 2024) 1,290 1,373
Compton Community College Dist., G.O. Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 2029 (preref. 2025) 1,000 1,097
Compton Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2015 Election, Series 2019-B,
BAM insured, 0% 2033 		1,000 693
City of Concord, Successor Agcy. to the Redev. Agcy., Rev. Ref. Bonds, Series 2014, BAM insured, 5.00% 2023 825 841
Del Mar Union School Dist., Community Facs. Dist. No. 99-1, Special Tax Bonds, Series 2019, 4.00% 2026 400 420
Del Mar Union School Dist., Community Facs. Dist. No. 99-1, Special Tax Bonds, Series 2019, 5.00% 2027 885 984
Del Mar Union School Dist., Community Facs. Dist. No. 99-1, Special Tax Bonds, Series 2019, 5.00% 2028 930 1,045
Del Mar Union School Dist., Community Facs. Dist. No. 99-1, Special Tax Bonds, Series 2019, 5.00% 2029 675 767
Desert Community College Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 2032 (preref. 2026) 1,885 2,095
City of Dublin, Community Facs. Dist. No. 2015-1 (Dublin Crossing), Improvement Area No. 3, Special Tax Bonds, Series 2021, 3.00% 2023 205 206
City of Dublin, Community Facs. Dist. No. 2015-1 (Dublin Crossing), Improvement Area No. 3, Special Tax Bonds, Series 2021, 3.00% 2025 265 265
East Bay Municipal Utility Dist., Water System Rev. Ref. Bonds, Series 2015-A, 5.00% 2027 3,550 3,873
East Side Union High School Dist., G.O. Bonds, 2008 Election, Series 2012-D, 5.00% 2037 (preref. 2022) 500 500
Eastern Municipal Water Dist., Fin. Auth., Water and Wastewater Rev. Ref. Bonds, Series 2020-A, 2.75% 2028 535 555
Eastern Municipal Water Dist., Water and Wastewater Rev. Ref. Bonds, Series 2021-A, 4.00% 2029 1,210 1,347
Educational Facs. Auth., Rev. Bonds (Chapman University), Series 2021-A, 5.00% 2028 1,375 1,568
Educational Facs. Auth., Rev. Ref. Bonds (Stanford University), Series 2009-T-5, 5.00% 2023 1,290 1,319
City of El Centro, Fncg. Auth., Wastewater Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 2026 530 565
City of El Centro, Fncg. Auth., Wastewater Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 2027 500 533
City of El Centro, Fncg. Auth., Wastewater Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 2030 1,000 1,065
County of El Dorado, Community Facs. Dist. No. 1992-1 (El Dorado Hills Dev.), Special Tax Rev. Ref. Bonds,
Series 2012, 5.00% 2024 		855 857
City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 2025 580 628
Etiwanda School Dist., G.O. Bonds, 2016 Election, Series 2020-A, 4.00% 2029 570 629
City of Eureka, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2017-B, 5.00% 2022 835 842
Capital Group California Core Municipal Fund — Page 42 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
City of Fillmore, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 2024 USD1,000 $1,058
Folsom Cordova Unified School Dist., School Facs. Improvement Dist. No. 1, G.O. Bonds,
Capital Appreciation Bonds, 2002 Election, Series 2004-B, National insured, 0% 2026 		1,000 904
City of Fontana, Community Facs. Dist. No. 22 (Sierra Hills South), Special Tax Bonds, Series 2014, 5.00% 2023 535 550
City of Fontana, Community Facs. Dist. No. 86 (Etiwanda Ridge), Special Tax Bonds, Series 2020, 4.00% 2026 100 104
City of Fontana, Community Facs. Dist. No. 86 (Etiwanda Ridge), Special Tax Bonds, Series 2020, 4.00% 2027 120 125
City of Fontana, Public Facs. Fin. Auth., Special Tax Rev. Ref. Bonds, Series 2021-A, 4.00% 2027 625 652
City of Fontana, Public Facs. Fin. Auth., Special Tax Rev. Ref. Bonds, Series 2021-A, 4.00% 2029 390 402
G.O. Bonds, Series 2021, 5.00% 2029 2,000 2,396
G.O. Bonds, Series 2018, 5.00% 2030 1,000 1,169
G.O. Bonds, Series 2021, 5.00% 2031 85 94
G.O. Bonds, Series 2021, 5.00% 2032 1,500 1,819
G.O. Bonds, Series 2021, 5.00% 2032 70 77
G.O. Bonds, Series 2022, 5.00% 2033 1,250 1,525
G.O. Bonds, Series 2021, 5.00% 2034 70 77
G.O. Rev. Ref. Bonds, Series 2019, 5.00% 2027 745 854
G.O. Rev. Ref. Bonds, Series 2021, 5.00% 2028 1,000 1,175
G.O. Rev. Ref. Bonds, Series 2019, 5.00% 2028 685 800
G.O. Rev. Ref. Bonds, Series 2020, 5.00% 2029 6,500 7,799
G.O. Rev. Ref. Bonds, Series 2017, 5.00% 2029 6,000 6,895
G.O. Rev. Ref. Bonds, Series 2019, 5.00% 2029 1,000 1,198
G.O. Rev. Ref. Bonds, Series 2021, 5.00% 2030 3,500 4,252
G.O. Rev. Ref. Bonds, Series 2020, 5.00% 2030 2,850 3,471
G.O. Rev. Ref. Bonds, Series 2021, 5.00% 2030 520 634
G.O. Rev. Ref. Bonds, Series 2019, 5.00% 2031 3,000 3,664
G.O. Rev. Ref. Bonds, Series 2021, 5.00% 2031 2,500 3,070
G.O. Rev. Ref. Bonds, Series 2020, 5.00% 2032 4,000 4,770
City of Garden Grove, Successor Agcy. to the Dev. Agcy., Tax Allocation Bonds, Series 2016, BAM insured, 5.00% 2022 400 402
City of Glendale, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds
(Central Glendale Redev. Project), Series 2016, BAM insured, 5.00% 2024 		425 454
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds,
Capital Appreciation Bonds, Series 2005-A, AMBAC insured, 0% 2024 (escrowed to maturity) 		2,000 1,938
Greenfield Elementary School Dist., G.O. Bonds, Capital Appreciation Bonds, 2006 Election, Series 2007-A, Assured Guaranty Municipal insured, 0% 2029 1,270 1,031
City of Grossmont, Healthcare Dist., G.O. Bonds, Capital Appreciation Bonds, 2006 Election, Series 2007-A, AMBAC insured, 0% 2032 1,500 1,110
City of Hawthorne, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016,
Assured Guaranty Municipal insured, 5.00% 2024 		250 266
Health Facs. Fncg. Auth., Rev. Bonds (Adventist Health System/West), Series 2013-A, 5.00% 2023 910 927
Health Facs. Fncg. Auth., Rev. Bonds (Adventist Health System/West), Series 2013-A, 5.00% 2024 1,105 1,128
Health Facs. Fncg. Auth., Rev. Bonds (Cedars-Sinai Medical Center), Series 2016-A, 5.00% 2023 650 672
Health Facs. Fncg. Auth., Rev. Bonds (El Camino Hospital), Series 2017, 5.00% 2025 1,000 1,072
Health Facs. Fncg. Auth., Rev. Bonds (Kaiser Permanente), Series 2017-B, 5.00% 2029 (put 2022) 1,025 1,034
Health Facs. Fncg. Auth., Rev. Bonds (Lucile Salter Packard Children’s Hospital at Stanford), Series 2014-A, 5.00% 2025 400 423
Health Facs. Fncg. Auth., Rev. Bonds (PIH Health), Series 2020-A, 5.00% 2030 1,900 2,174
Health Facs. Fncg. Auth., Rev. Bonds (Providence St. Joseph Health), Series 2019-B, 5.00% 2039 (put 2027) 2,135 2,389
Health Facs. Fncg. Auth., Rev. Bonds (Stanford Health Care), Series 2021-A, 3.00% 2054 (put 2025) 1,000 1,023
Health Facs. Fncg. Auth., Rev. Bonds (Sutter Health), Series 2018-A, 5.00% 2024 3,000 3,204
Health Facs. Fncg. Auth., Rev. Bonds (Sutter Health), Series 2016-A, 5.00% 2026 (preref. 2025) 300 332
Health Facs. Fncg. Auth., Rev. Bonds (Sutter Health), Series 2013-A, 5.00% 2052 (preref. 2023) 1,665 1,722
Health Facs. Fncg. Auth., Rev. Ref. Bonds (Adventist Health System/West), Series 2016-A, 4.00% 2025 1,270 1,325
Capital Group California Core Municipal Fund — Page 43 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
Health Facs. Fncg. Auth., Rev. Ref. Bonds (Lucile Salter Packard Children’s Hospital at Stanford), Series 2022-A, 5.00% 2026 USD830 $916
Health Facs. Fncg. Auth., Rev. Ref. Bonds (Marshall Medical Center), Series 2015, 5.00% 2022 175 177
Health Facs. Fncg. Auth., Rev. Ref. Bonds (Marshall Medical Center), Series 2015, 5.00% 2023 135 141
Health Facs. Fncg. Auth., Rev. Ref. Bonds (Stanford Health Care), Series 2017-A, 5.00% 2024 1,000 1,071
Health Facs. Fncg. Auth., Rev. Ref. Bonds (Stanford Health Care), Series 2017-A, 5.00% 2026 1,750 1,968
Hemet Unified School Dist., Fncg. Auth. Special Tax Rev. Bonds, Series 2015, 5.00% 2026 600 637
Hemet Unified School Dist., G.O. Rev. Ref. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.00% 2023 885 915
Housing Fin. Agcy., Municipal Certs., Series 2021-A-3, 3.25% 2036 1,247 1,180
Infrastructure and Econ. Dev. Bank, Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-B, 5.00% 2025 100 109
Infrastructure and Econ. Dev. Bank, Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-B, 5.00% 2026 125 139
Infrastructure and Econ. Dev. Bank, Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-B, 5.00% 2027 110 124
Infrastructure and Econ. Dev. Bank, Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-B, 5.00% 2028 375 417
Infrastructure and Econ. Dev. Bank, Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-B, 5.00% 2029 140 155
Infrastructure and Econ. Dev. Bank, Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-B, 5.00% 2030 340 374
Infrastructure and Econ. Dev. Bank, Rev. Ref. Bonds (J. Paul Getty Trust), Series 2020-A-1, 4.00% 2030 825 924
City of Inglewood, Successor Agcy. to the Redev. Agcy., Tax Allocation Bonds (Merged Redev. Project),
Series 2017-A, BAM insured, 5.00% 2031 		500 559
City of Inglewood, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Merged Redev. Project), Series 2017-A, BAM insured, 5.00% 2027 650 731
City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2012, 3.25% 2022 700 701
City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2012, 4.00% 2022 400 401
City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2013, 5.00% 2024 725 750
City of Irvine, Reassessment Dist. No. 13-1, Limited Obligation Improvement Bonds, Series 2013, 3.375% 2023 850 867
City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 4.00% 2022 225 225
City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 5.00% 2023 200 207
City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 5.00% 2024 210 222
City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 5.00% 2025 250 270
City of Irvine, Reassessment Dist. No. 21-1, Limited Obligation Improvement Bonds, Series 2021, BAM insured, 4.00% 2025 500 522
City of Irvine, Reassessment Dist. No. 21-1, Limited Obligation Improvement Bonds, Series 2021, 4.00% 2028 500 530
City of Irvine, Reassessment Dist. No. 21-1, Limited Obligation Improvement Bonds, Series 2021, BAM insured, 4.00% 2030 1,265 1,349
Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 5.00% 2027 140 156
Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 5.00% 2028 350 394
Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 5.00% 2030 215 241
City of Jurupa, Public Fncg. Auth., Special Tax Rev. Bonds, Series 2014-A, 5.00% 2023 500 517
City of Jurupa, Public Fncg. Auth., Special Tax Rev. Bonds, Series 2014-A, 5.00% 2029 710 756
City of Jurupa, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2020-A, BAM insured, 5.00% 2023 750 776
City of Jurupa, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2020-A, BAM insured, 4.00% 2027 1,615 1,764
Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds
(Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 2029 		335 369
Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds
(Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 2031 		375 414
Kern Community College Dist., Safety Repair and Improvement G.O. Bonds, Capital Appreciation Bonds,
2002 Election, Series 2006, FSA insured, 0% 2022 		1,500 1,494
Capital Group California Core Municipal Fund — Page 44 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
Kings Canyon Joint Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 2029 USD1,600 $1,742
La Habra School Dist., G.O. Bonds, Capital Appreciation Bonds, 2000 Election, Series 2002-A, FSA insured, 0% 2026 1,010 911
Lakeside Union School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 2029 1,785 1,982
Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2002, Special Tax Bonds, Series 2017,
4.00% 2022 		680 681
City of Lodi, Public Fin. Auth., Rev. Ref. Bonds, Series 2018, Assured Guaranty Municipal insured, 5.00% 2024 260 277
Long Beach Community College Dist., G.O. Bonds, Capital Appreciation Bonds, 2008 Election, Series 2008-A, Assured Guaranty Municipal insured, 0% 2027 3,865 3,443
Los Altos School Dist., G.O. Bonds, 2014 Election, Capital Appreciation Bonds, Series 2019-A, 4.00% 2029 1,000 1,090
City of Los Angeles, Community Facs. Dist. No. 4 (Playa Vista - Phase 1), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 2023 690 714
City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2021-B, 5.00% 2031 420 501
City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2021-B, 5.00% 2034 1,025 1,197
City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2019-E, 5.00% 2039 1,130 1,256
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2018-D, 5.00% 2024 535 569
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2018-B, 5.00% 2025 1,875 2,048
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2018-D, 5.00% 2025 500 547
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2018-B, 5.00% 2026 2,000 2,239
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2019-D, 5.00% 2027 1,100 1,262
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-A, 5.00% 2030 775 933
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-B, 5.00% 2032 690 850
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2021-C, 5.00% 2033 1,500 1,785
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-B, 5.00% 2033 1,345 1,626
City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2020-A, 5.00% 2028 650 761
City of Los Angeles, Solid Waste Resources Rev. Bonds, Series 2013-A, 2.00% 2023 1,110 1,113
County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1,
Special Tax Bonds, Series 2022, 5.00% 2031 		225 253
County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1,
Special Tax Bonds, Series 2022, 5.00% 2032 		175 196
County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1,
Special Tax Bonds, Series 2022, 5.00% 2033 		170 188
County of Los Angeles, Dev. Auth., Multi Family Housing Mortgage Rev. Bonds (Long Beach Senior Housing),
Series 2022, 2.00% 2026 (put 2025) 		3,350 3,256
County of Los Angeles, Dev. Auth., Multi Family Housing Rev. Bonds (Cantamar Villas), Series 2021-D-1, 0.30% 2025 (put 2024) 1,295 1,253
County of Los Angeles, Dev. Auth., Multi Family Housing Rev. Bonds (Sunny Garden Apartments),
Series 2021-C-1, 0.20% 2024 (put 2023) 		3,175 3,156
County of Los Angeles, Metropolitan Transportation Auth., Proposition C Sales Tax Rev. Bonds, Series 2021-A, 5.00% 2030 3,610 4,381
County of Los Angeles, Metropolitan Transportation Auth., Proposition C Sales Tax Rev. Bonds, Series 2021-A, 5.00% 2034 1,000 1,209
County of Los Angeles, Public Works Fncg. Auth., Lease Rev. Bonds, Series 2016-D, 5.00% 2027 1,500 1,657
County of Los Angeles, Redev. Ref. Auth., Tax Allocation Rev. Ref. Bonds (South Gate Project No. 1),
Series 2014-A, Assured Guaranty Municipal insured, 5.00% 2022 		1,190 1,193
Los Angeles Unified School Dist., G.O. Rev. Ref. Bonds, Series 2014-C, 5.00% 2023 520 537
Madera Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2002 Election, Series 2006,
Assured Guaranty Municipal insured, 0% 2029 		585 483
Manhattan Beach Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, Series 1999-C,
FGIC-National insured, 0% 2024 		3,875 3,668
Manteca Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2006, MBIA insured, 0% 2027 560 494
Capital Group California Core Municipal Fund — Page 45 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 5, Special Tax Bonds, Series 2021, 4.00% 2028 USD275 $285
City of Merced, Irrigation Dist., Electric System Rev. Ref. Bonds, Series 2015-A,
Assured Guaranty Municipal insured, 5.00% 2022 		500 503
City of Merced, Irrigation Dist., Electric System Rev. Ref. Bonds, Series 2015-A,
Assured Guaranty Municipal insured, 5.00% 2028 		250 273
Merced Union High School Dist., G.O. Bonds, Capital Appreciation Bonds, 2008 Election, Series 2011-C, 0% 2033 615 434
Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2022-B, 5.00% 2033 500 617
Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2022-B, 5.00% 2034 500 613
Montebello Unified School Dist., G.O. Rev. Ref. Bonds, Series 2015, 5.00% 2028 1,545 1,660
Mountain View - Los Altos Union School Dist., G.O. Bonds, 2018 Election, Series 2022-C, 4.00% 2031 2,465 2,813
Mountain View School Dist., G.O. Bonds, 2020 Election, Series 2021-A, Assured Guaranty Municipal insured, 4.00% 2023 1,290 1,322
Municipal Fin. Auth., Educational Rev. Bonds (American Heritage Education Foundation Project), Series 2016-A, 4.00% 2026 165 168
Municipal Fin. Auth., Multi Family Housing Rev. Bonds (Walnut Apartments), Series 2021-A,
0.45% 2024 (put 2023) 		2,935 2,856
Municipal Fin. Auth., Rev. and Rev. Ref. Bonds (HumanGood California Obligated Group), Series 2019-A, 4.00% 2030 1,785 1,838
Municipal Fin. Auth., Rev. Bonds (California Institute of the Arts), Series 2021, 4.00% 2033 250 255
Municipal Fin. Auth., Rev. Bonds (California Lutheran University), Series 2018, 5.00% 2026 300 326
Municipal Fin. Auth., Rev. Bonds (Community Health System), Series 2021-A,
Assured Guaranty Municipal insured, 5.00% 2027 		800 880
Municipal Fin. Auth., Rev. Bonds (Community Health System), Series 2021-A,
Assured Guaranty Municipal insured, 5.00% 2028 		750 836
Municipal Fin. Auth., Rev. Bonds (Community Health System), Series 2021-A,
Assured Guaranty Municipal insured, 5.00% 2029 		825 929
Municipal Fin. Auth., Rev. Bonds (Retirement Housing Foundation), Series 2017-A, 5.00% 2024 300 316
Municipal Fin. Auth., Rev. Bonds (University of La Verne), Series 2017-A, 5.00% 2023 750 771
Municipal Fin. Auth., Rev. Ref. Bonds (Biola University), Series 2013, 5.00% 2022 470 472
Municipal Fin. Auth., Rev. Ref. Bonds (Biola University), Series 2017, 5.00% 2026 335 365
Municipal Fin. Auth., Rev. Ref. Bonds (Harbor Regional Center Project), Series 2015, 5.00% 2022 885 892
Municipal Fin. Auth., Rev. Ref. Bonds (Harbor Regional Center Project), Series 2015, 5.00% 2025 500 550
Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 2028 750 783
Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 2029 1,085 1,123
Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 2035 1,000 1,014
Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Riverside I, LLC - UCR Student Housing Project),
Series 2019, BAM insured, 5.00% 2027 		530 581
Murrieta Valley Unified School Dist., G.O. Bonds, 2014 Election, Series 2020, 4.00% 2023 335 343
Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 2023 2,530 2,605
New Haven Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, Series 2008-C,
Assured Guaranty insured, 0% 2030 		5,075 4,089
Northern California Energy Auth., Commodity Supply Rev. Bonds, Series 2018, 4.00% 2049 (put 2024) 4,500 4,606
Oak Park Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2006 Election, Series 2009-B,
Assured Guaranty Municipal insured, 0% 2029 		605 493
Oakland Unified School Dist., G.O. Bonds, 2006 Election, Series 2016-A, 5.00% 2026 1,325 1,480
Oakland Unified School Dist., G.O. Bonds, 2012 Election, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 2028 1,000 1,141
Oakland Unified School Dist., G.O. Bonds, 2012 Election, Series 2019-A, Assured Guaranty Municipal insured, 4.00% 2034 2,000 2,115
Oakland Unified School Dist., G.O. Rev. Ref. Bonds, Series 2017-A, 5.00% 2022 2,000 2,000
Oakland Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 2022 915 915
Oakland Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 2024 1,310 1,393
Oakland Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 2025 3,000 3,272
Capital Group California Core Municipal Fund — Page 46 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
Oakland Unified School Dist., G.O. Rev. Ref. Bonds, Series 2015, Assured Guaranty insured, 5.00% 2026 USD1,125 $1,230
Ohlone Community College Dist., G.O. Rev. Ref. Bonds, Series 2012, 5.00% 2023 (preref. 2022) 550 550
County of Orange, Airport Private Activity Rev. Ref. Bonds, Series 2019-B, 5.00% 2025 1,065 1,159
County of Orange, Airport Private Activity Rev. Ref. Bonds, Series 2019-A, 5.00% 2025 1,000 1,088
County of Orange, Community Facs. Dist. No. 2016-1 (Village of Esencia), Special Tax Bonds, Series 2016-A, 5.00% 2026 570 620
County of Orange, Transportation Auth., Bond Anticipation Notes (I-405 Improvement Project), Series 2021, 5.00% 2024 2,000 2,147
County of Orange, Water Dist. Rev. Certs. of Part. (Interim Obligations), Series 2019-A, 2.00% 2023 2,725 2,733
City of Oxnard, Fncg. Auth., Wastewater Rev. Ref. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.00% 2024 250 265
City of Oxnard, Water Rev. Ref. Bonds, Series 2018, BAM insured, 5.00% 2024 450 476
Oxnard Unified School Dist., G.O. Bonds, 2012 Election, Series 2012-A, Assured Guaranty Municipal insured, 5.00% 2037 (preref. 2022) 500 500
Palomar Health, G.O. Rev. Ref. Bonds, Series 2016-A, 5.00% 2026 630 693
Paramount Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 1998 Election, Series 2001-B,
Assured Guaranty Municipal insured, 0% 2025 		3,000 2,801
Peninsula Corridor Joint Powers Board, Farebox Rev. Bonds, Series 2019-A, 5.00% 2026 250 279
Peninsula Corridor Joint Powers Board, Farebox Rev. Bonds, Series 2019-A, 5.00% 2027 200 227
Peninsula Corridor Joint Powers Board, Farebox Rev. Bonds, Series 2019-A, 5.00% 2029 400 467
Peninsula Corridor Joint Powers Board, Farebox Rev. Bonds, Series 2019-A, 5.00% 2028 285 328
City of Perris, Joint Powers Auth., Local Agcy. Rev. Ref. Bonds
(CFD No. 2001-1 IA No. 4 and No. 5; CFD No. 2005-1 IA No. 4), Series 2017-B, 4.00% 2022 		915 916
Perris Union High School Dist., Fncg. Auth., Rev. Bonds, Series 2015, 5.00% 2024 1,000 1,053
Perris Union High School Dist., G.O. Bonds, 2012 Election, Series 2021-C, 4.00% 2028 185 204
Perris Union High School Dist., G.O. Bonds, 2012 Election, Series 2021-C, 4.00% 2029 200 222
Perris Union High School Dist., G.O. Bonds, 2012 Election, Series 2021-C, 4.00% 2030 215 237
Perris Union High School Dist., G.O. Bonds, 2012 Election, Series 2021-C, 4.00% 2031 350 385
Pleasant Valley School Dist., G.O. Bonds, 2018 Election, Series A, 5.00% 2029 (preref. 2026) 645 725
Pollution Control Fncg. Auth., Water Facs. Rev. Ref. Bonds (American Water Capital Corp. Project), Series 2020, 0.60% 2040 (put 2023) 3,270 3,212
Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2013,
4.00% 2022 (escrowed to maturity) 		440 441
Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 2022 850 852
Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-B, BAM insured, 5.00% 2022 500 501
Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2016-A, 5.00% 2023 885 918
Public Fin. Auth., Electric System Rev. Ref. Bonds, Series 2018, Assured Guaranty Municipal insured, 5.00% 2023 730 756
Public Fin. Auth., Reassessment Rev. Ref. Bonds, Series 2019, 5.00% 2022 1,115 1,118
Public Fin. Auth., Reassessment Rev. Ref. Bonds, Series 2019, 5.00% 2029 1,000 1,132
Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2017,
Assured Guaranty Municipal insured, 5.00% 2023 		500 517
Public Fin. Auth., Rev. Bonds (Hoag Memorial Hospital Presbyterian), Series 2022-A, 5.00% 2028 250 289
Public Fin. Auth., Rev. Bonds (Hoag Memorial Hospital Presbyterian), Series 2022-A, 5.00% 2030 250 296
Public Fin. Auth., Rev. Bonds (Hoag Memorial Hospital Presbyterian), Series 2022-A, 5.00% 2033 330 391
Public Fin. Auth., Rev. Bonds (Hoag Memorial Hospital Presbyterian), Series 2022-A, 5.00% 2034 350 413
Public Fin. Auth., Rev. Ref. Bonds (O’Conner Woods), Series 2022, 4.00% 2028 450 486
Public Fin. Auth., Rev. Ref. Bonds (O’Conner Woods), Series 2022, 4.00% 2029 500 544
Public Fin. Auth., Rev. Ref. Bonds (O’Conner Woods), Series 2022, 4.00% 2031 520 570
Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2021-A, 5.00% 2032 1,000 1,223
City of Rancho Cucamonga, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds
(Rancho Redev. Project Area), Series 2014, Assured Guaranty Municipal insured, 5.00% 2026 		600 637
City of Rancho Cucamonga, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds
(Rancho Redev. Project Area), Series 2014, Assured Guaranty Municipal insured, 5.00% 2028 		300 319
City of Redding, Joint Powers Fin. Auth., Electric System Rev. Bonds, Series 2015-A, 5.00% 2024 15 16
Capital Group California Core Municipal Fund — Page 47 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
Rialto Unified School Dist., G.O. Bonds, 2010 Election, Series 2019, 3.00% 2026 USD600 $625
Rialto Unified School Dist., G.O. Bonds, 2010 Election, Series 2019, 3.00% 2027 750 783
City of Richmond, Successor Agcy. to the Redev. Agcy., Rev. Ref. Bonds, Series 2014-A, BAM insured, 5.00% 2025 200 212
Rio Elementary School Dist., Community Facs. Dist. No. 1, Special Tax Bonds, Series 2016, BAM insured, 5.00% 2032 240 262
Rio Elementary School Dist., Community Facs. Dist. No. 1, Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 2022 400 401
River Islands Public Fncg. Auth., Community Facs. Dist. No. 2003-1, Special Tax Rev. Ref. Bonds, Series 2022-A-1, Assured Guaranty Municipal insured, 5.00% 2028 500 570
River Islands Public Fncg. Auth., Community Facs. Dist. No. 2003-1, Special Tax Rev. Ref. Bonds, Series 2022-A-1, Assured Guaranty Municipal insured, 5.00% 2029 500 576
County of Riverside, Public Fncg. Auth., Tax Allocation Rev. Bonds
(Project Area No. 1, Desert Communities and Interstate 215 Corridor Projects), Series 2015-A,
Assured Guaranty Municipal insured, 5.00% 2023 		1,075 1,116
County of Riverside, Public Fncg. Auth., Tax Allocation Rev. Ref. Bonds (Hemet Project), Series 2014, BAM insured, 5.00% 2023 500 518
Riverside Community Properties Dev., Inc., Lease Rev. Bonds (Riverside County Law Building Project),
Series 2013, 6.00% 2038 (preref. 2023) 		2,585 2,724
Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 2025 350 377
Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 2026 400 432
Riverside Unified School Dist., G.O. Bonds, 2016 Election, Series 2019, 4.00% 2029 850 918
City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 2024 1,000 1,056
City of Sacramento, Municipal Utility Dist., Electric Rev. Bonds, Series 1997-K, AMBAC insured, 5.25% 2024 525 552
County of Sacramento, Airport System Rev. Ref. Bonds, Series 2018-E, 5.00% 2027 1,015 1,147
County of Sacramento, Airport System Rev. Ref. Bonds, Series 2018-E, 5.00% 2030 200 227
Sacramento Unified School Dist., G.O. Bonds, Series 2015, Assured Guaranty Municipal insured, 5.00% 2030 1,000 1,058
Sacramento Unified School Dist., G.O. Bonds, 2012 Election, Series 2019-D, BAM insured, 4.00% 2027 585 636
Sacramento Unified School Dist., G.O. Bonds, 2012 Election, Series 2017-E, 5.00% 2027 555 630
Sacramento Unified School Dist., G.O. Bonds, 2012 Election, Series 2019-D, BAM insured, 4.00% 2028 610 663
Sacramento Unified School Dist., G.O. Bonds, 2012 Election, Series 2019-D, BAM insured, 4.00% 2029 635 692
Sacramento Unified School Dist., G.O. Bonds, 2020 Election, Series 2022-A, BAM insured, 5.00% 2023 5,680 5,862
Sacramento Unified School Dist., G.O. Rev. Ref. Bonds, Series 2022, BAM insured, 5.00% 2030 1,050 1,246
San Bernardino Unified School Dist., G.O. Rev. Ref. Bonds, Series 2013-A, Assured Guaranty Municipal insured, 5.00% 2022 (escrowed to maturity) 1,500 1,500
City of San Diego, Community Facs. Dist. No. 2 (Santaluz), Improvement Area No. 1, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 2027 635 688
City of San Diego, Community Facs. Dist. No. 2 (Santaluz), Improvement Area No. 1, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 2028 880 955
City of San Diego, Community Facs. Dist. No. 2 (Santaluz), Improvement Area No. 1, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 2029 430 467
City of San Diego, Limited Obligation Rev. Bonds (Sanford Burnham Prebys Medical Discovery Institute Project), Series 2015-A, 5.00% 2022 200 202
City of San Diego, Public Facs. Fncg. Auth., Lease Rev. Bonds (Capital Improvement Projects), Series 2021-A, 5.00% 2030 200 240
City of San Diego, Public Facs. Fncg. Auth., Lease Rev. Bonds (Capital Improvement Projects), Series 2021-A, 5.00% 2031 150 178
City of San Diego, Public Facs. Fncg. Auth., Water Rev. Bonds, Series 2020-A, 5.00% 2029 500 591
County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 2, Special Tax Bonds, Series 2020-A, 4.00% 2026 255 265
County of San Diego, Grossmont Healthcare Dist., G.O. Rev. Ref. Bonds, Series 2021-E, 5.00% 2030 500 597
County of San Diego, Grossmont Healthcare Dist., G.O. Rev. Ref. Bonds, Series 2021-E, 5.00% 2031 625 755
County of San Diego, Regional Airport Auth., Airport Rev. and Rev. Ref. Bonds, Series 2019-A, 5.00% 2027 400 452
County of San Diego, Regional Airport Auth., Airport Rev. and Rev. Ref. Bonds, Series 2019-A, 5.00% 2028 320 367
County of San Diego, Regional Airport Auth., Airport Rev. and Rev. Ref. Bonds, Series 2019-A, 5.00% 2029 585 680
County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2013-A,
5.00% 2023 (escrowed to maturity) 		245 253
Capital Group California Core Municipal Fund — Page 48 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
County of San Diego, Regional Airport Auth., Airport Rev. Ref. Bonds, Series 2020-A, 5.00% 2028 USD1,000 $1,147
County of San Diego, Regional Airport Auth., Airport Rev. Ref. Bonds, Series 2020-A, 5.00% 2029 1,000 1,163
County of San Diego, Regional Airport Auth., Airport Rev. Ref. Bonds, Series 2020-B, 5.00% 2031 1,405 1,640
County of San Diego, Regional Transportation Commission, Limited Sales Tax Rev. Bonds, Series 2021-B, 5.00% 2029 320 376
County of San Diego, Regional Transportation Commission, Limited Sales Tax Rev. Green Bonds, Series 2020-A, 5.00% 2028 850 991
County of San Diego, Water Auth. Rev. Ref. Bonds, Series 2013-A, 5.00% 2031 (preref. 2022) 900 908
County of San Diego, Water Auth., Water Rev. Bonds, Series 2022-A, 5.00% 2028 250 292
County of San Diego, Water Auth., Water Rev. Bonds, Series 2022-A, 5.00% 2029 500 590
San Diego Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2016-SR-1, 4.00% 2031 3,000 3,171
San Diego Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Rev. Ref. Bonds,
Series 2015-R-4, 5.00% 2026 		1,000 1,093
San Diego Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Rev. Ref. Bonds,
Series 2015-R-4, 5.00% 2027 		3,000 3,275
San Diego Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Rev. Ref. Bonds,
Series 2016-R-5, 5.00% 2029 		1,500 1,670
City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds,
Series 2019-D-2, 5.00% 2024 		1,000 1,056
City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series 2022-B-2, 5.00% 2027 4,000 4,516
City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series 2021-B-2, 5.00% 2031 2,780 3,292
City and County of San Francisco, G.O. Bonds (Earthquake Safety and Emergency Response), Series 2021-E-1, 5.00% 2028 1,450 1,703
City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Special Tax Rev. Ref. Bonds
(San Francisco Redev. Projects), Series 2014-C, 5.00% 2022 		305 305
City of San Francisco, Bay Area Rapid Transit Dist., G.O. Bonds, 2016 Election, Series 2020-C-1, 5.00% 2027 1,500 1,729
San Francisco Unified School Dist., G.O. Bonds, 2016 Election, Series 2020-B, 4.00% 2029 1,000 1,096
San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2019, 5.00% 2022 25 25
San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2019, 5.00% 2023 40 41
San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2019, 5.00% 2024 65 68
San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2019, 5.00% 2025 90 97
San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2019, 5.00% 2026 155 169
San Joaquin Hills Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Capital Appreciation Bonds,
Series 1997-A, National insured, 0% 2025 		285 267
City of San Jose, Airport Rev. Ref. Bonds, Series 2021-A, BAM insured, 5.00% 2029 500 579
City of San Jose, Airport Rev. Ref. Bonds, Series 2021-A, BAM insured, 5.00% 2030 250 293
City of San Jose, Airport Rev. Ref. Bonds, Series 2021-B, 5.00% 2032 1,250 1,465
City of San Jose, Fin. Auth., Lease Rev. Ref. Bonds (Civic Center Project), Series 2013-A, 5.00% 2030 (preref. 2023) 1,625 1,672
City of San Jose, G.O. Bonds (Disaster Preparedness, Public Safety and Infrastructure), Series 2021-A, 5.00% 2030 2,250 2,717
San Jose Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2002 Election, Series 2006-C,
National insured, 0% 2025 		795 744
San Jose Unified School Dist., G.O. Rev. Ref. Bonds, Series 2017, 5.00% 2022 500 500
San Jose Unified School Dist., G.O. Rev. Ref. Bonds, Series 2017, 5.00% 2023 375 388
San Jose Unified School Dist., G.O. Rev. Ref. Bonds, Series 2017, 5.00% 2024 500 533
San Ramon Valley Unified School Dist., G.O. Bonds, 2012 Election, Series 2018, 5.00% 2024 1,000 1,065
Santa Margarita Water Dist., Community Facs. Dist. No. 99-1 (Talega), Special Tax Rev. Ref. Bonds, Series 2014-B, 5.00% 2022 310 311
Santa Margarita Water Dist., Community Facs. Dist. No. 99-1 (Talega), Special Tax Rev. Ref. Bonds, Series 2014-B, 5.00% 2024 530 558
Santa Margarita Water Dist., Community Facs. Dist. No. 99-1 (Talega), Special Tax Rev. Ref. Bonds, Series 2014-B, 5.00% 2025 375 394
Capital Group California Core Municipal Fund — Page 49 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
Santa Monica-Malibu Unified School Dist., School Facs. Improvement Dist. No. 2 (Malibu Schools), G.O. Bonds, 2018 Election, Series 2021-B, 4.00% 2024 USD1,235 $1,291
Santa Monica-Malibu Unified School Dist., School Facs. Improvement Dist. No. 2 (Malibu Schools), G.O. Bonds, 2018 Election, Series 2021-B, 4.00% 2025 345 367
Santa Monica-Malibu Unified School Dist., School Facs. Improvement Dist. No. 2 (Santa Monica Schools),
G.O. Bonds, 2018 Election, Series 2021-B, 4.00% 2025 		405 431
Santa Rosa High School Dist., G.O. Bonds, 2014 Election, Series 2021-E, BAM insured, 4.00% 2027 500 548
Santa Rosa High School Dist., G.O. Bonds, 2014 Election, Series 2021-E, BAM insured, 4.00% 2029 500 556
Saugus Union School Dist., G.O. Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2006,
FGIC-National insured, 0% 2024 		1,210 1,163
Saugus Union School Dist., Saugus/Hart School Facs. Fin. Auth., Community Facs. Dist. No. 2006-1,
Special Tax Rev. Bonds, Series 2016, 5.00% 2024 		500 526
Saugus Union School Dist., Saugus/Hart School Facs. Fin. Auth., Community Facs. Dist. No. 2006-1,
Special Tax Rev. Bonds, Series 2016, 5.00% 2025 		1,110 1,192
School Fin. Auth., School Fac. Rev. Bonds (Granada Hills Charter Obligated Group), Series 2019, 4.00% 20272 740 757
School Fin. Auth., School Fac. Rev. Bonds (Granada Hills Charter Obligated Group), Series 2019, 4.00% 20292 805 815
School Fin. Auth., School Fac. Rev. Bonds (Granada Hills Charter Obligated Group), Series 2019, 5.00% 20312 875 911
School Fin. Auth., School Fac. Rev. Bonds (KIPP LA Projects), Series 2014-A, 4.125% 20242 315 323
School Fin. Auth., School Fac. Rev. Bonds (KIPP LA Projects), Series 2017-A, 5.00% 20242 585 612
School Fin. Auth., School Fac. Rev. Bonds (KIPP LA Projects), Series 2015-A, 3.625% 20252 460 469
School Fin. Auth., School Fac. Rev. Bonds (KIPP LA Projects), Series 2017-A, 5.00% 20262 505 548
School Fin. Auth., School Fac. Rev. Bonds (KIPP LA Projects), Series 2017-A, 5.00% 20272 600 660
School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2019-A, 5.00% 20232 225 231
School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2019-A, 5.00% 20242 130 136
School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2020-A, 5.00% 20242 100 105
School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2019-A, 5.00% 20252 150 160
School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2020-A, 5.00% 20252 105 112
School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2020-A, 5.00% 20262 110 119
School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2019-A, 5.00% 20262 105 114
School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2019-A, 5.00% 20272 220 242
School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2020-A, 5.00% 20272 100 110
School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2020-A, 5.00% 20282 100 111
School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2020-A, 5.00% 20292 200 224
School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2020-A, 5.00% 20302 200 225
City of Seal Beach, Community Facs. Dist. No. 2005-1 (Pacific Gateway Business Center),
Special Tax Rev. Ref. Bonds, Series 2016, 3.00% 2023 		150 151
City of Seal Beach, Community Facs. Dist. No. 2005-1 (Pacific Gateway Business Center),
Special Tax Rev. Ref. Bonds, Series 2016, 3.00% 2024 		145 146
City of Seal Beach, Community Facs. Dist. No. 2005-1 (Pacific Gateway Business Center),
Special Tax Rev. Ref. Bonds, Series 2016, 3.00% 2025 		365 366
City of Seal Beach, Community Facs. Dist. No. 2005-1 (Pacific Gateway Business Center),
Special Tax Rev. Ref. Bonds, Series 2016, 3.00% 2026 		150 150
City of Signal Hill, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2015-A,
BAM insured, 5.00% 2023 		500 519
Silicon Valley Clean Water, Wastewater Rev. Notes, Series 2019-A, 3.00% 2024 4,065 4,133
Silicon Valley Clean Water, Wastewater Rev. Notes, Series 2021-B, 0.50% 2026 5,040 4,693
Solano Community College Dist., G.O. Bonds, 2015 Election, Series 2013-A, 4.375% 2047 (preref. 2023) 595 612
South Placer Wastewater Auth., Wastewater Rev. Ref. Bonds, Series 2020, 5.00% 2031 2,885 3,450
South Placer Wastewater Auth., Wastewater Rev. Ref. Bonds, Series 2020, 5.00% 2032 500 602
Southern California Public Power Auth., Rev. Ref. Bonds (Magnolia Power Project A), Series 2020-1, 5.00% 2027 1,100 1,258
Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project),
Series 2021-1, 5.00% 2026 		200 224
Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project),
Series 2021-1, 5.00% 2027 		400 459
Stanislaus Union School Dist., G.O. Rev. Ref. Bonds, Series 2019, BAM insured, 5.00% 2025 500 545
Capital Group California Core Municipal Fund — Page 50 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Harriet Tubman Terrace Apartments),
Series 2021-Q, 0.24% 2024 (put 2023) 		USD7,000 $6,900
Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Noble Creek Apartments), Series 2022-J, 3.50% 2025 (put 2024) 6,887 7,018
Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Washington Court Apartments),
Series 2021-E, 0.22% 2023 (put 2022) 		5,000 5,000
Statewide Communities Dev. Auth., Rev. Bonds (Adventist Health System/West), Series 2015-A, 5.00% 2025 750 801
Statewide Communities Dev. Auth., Rev. Bonds (Adventist Health System/West), Series 2015-A, 5.00% 2028 2,085 2,251
Statewide Communities Dev. Auth., Rev. Bonds (Adventist Health System/West), Series 2018-A, 5.00% 2034 975 1,056
Statewide Communities Dev. Auth., Rev. Bonds (American Baptist Homes of the West), Series 2015, 5.00% 2023 1,110 1,145
Statewide Communities Dev. Auth., Rev. Bonds (Cottage Health System Obligated Group), Series 2015, 5.00% 2043 (preref. 2024) 5,000 5,368
Statewide Communities Dev. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2014,
Assured Guaranty Municipal insured, 5.00% 2022 		750 754
Statewide Communities Dev. Auth., Rev. Bonds (Jewish Home of San Francisco), Series 2016, 5.00% 2026 575 646
Statewide Communities Dev. Auth., Rev. Ref. Bonds (Huntington Memorial Hospital), Series 2014-B, 5.00% 2026 (preref. 2024) 200 213
Statewide Communities Dev. Auth., Rev. Ref. Bonds (Methodist Hospital of Southern California), Series 2018, 5.00% 2023 500 506
Statewide Communities Dev. Auth., Rev. Ref. Bonds (Methodist Hospital of Southern California), Series 2018, 5.00% 2024 390 406
Statewide Communities Dev. Auth., Rev. Ref. Bonds (Rady Children’s Hospital), Series 2016-B, 5.00% 2028 860 996
Statewide Communities Dev. Auth., Student Housing Rev. Bonds (CHF-Irvine, LLC - University of California,
Irvine East Campus Apartments, Phase I Ref. and Phase IV-B), Series 2021, BAM insured, 5.00% 2029 		1,865 2,091
Statewide Communities Dev. Auth., Student Housing Rev. Bonds (CHF-Irvine, LLC - University of California,
Irvine East Campus Apartments, Phase I Ref. and Phase IV-B), Series 2021, BAM insured, 5.00% 2031 		3,000 3,413
Statewide Communities Dev. Auth., Student Housing Rev. Bonds (CHF-Irvine, LLC - University of California,
Irvine East Campus Apartments, Phase I Ref. and Phase IV-B), Series 2021, BAM insured, 5.00% 2032 		3,500 3,948
Statewide Communities Dev. Auth., Student Housing Rev. Ref. Bonds
(CHF-Irvine, LLC - University of California, Irvine East Campus Apartments), Series 2016, 5.00% 2029 		1,250 1,319
Stockton Unified School Dist., G.O. Bonds, 2012 Election, Series 2018-C, BAM insured, 5.00% 2030 2,145 2,463
City of Suisun, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2014-B, BAM insured, 5.00% 2022 400 402
Sweetwater Union High School Dist., G.O. Bonds, 2006 Election, Series 2006, 4.00% 2026 515 542
Sweetwater Union High School Dist., G.O. Rev. Ref. Bonds, Series 2014, BAM insured, 5.00% 2025 1,715 1,820
Tobacco Securitization Auth. of Southern California, Tobacco Settlement Asset-Backed Rev. Ref. Bonds
(San Diego County Tobacco Asset Securitization Corp.), Series 2019-A, 5.00% 2025 		1,000 1,061
City of Tracy, Successor Agcy. to the Community Dev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016,
Assured Guaranty Municipal insured, 5.00% 2030 		545 591
Transbay Joint Powers Auth., Senior Tax Allocation Green Bonds, Series 2020-A, 5.00% 2027 600 683
Transbay Joint Powers Auth., Senior Tax Allocation Green Bonds, Series 2020-A, 5.00% 2028 700 808
Transbay Joint Powers Auth., Senior Tax Allocation Green Bonds, Series 2020-A, 5.00% 2029 660 773
Transbay Joint Powers Auth., Senior Tax Allocation Green Bonds, Series 2020-A, 5.00% 2030 300 352
City of Turlock, Irrigation Dist., Rev. Ref. Bonds, Series 2020, 5.00% 2031 1,600 1,883
City of Tustin, Community Facs. Dist. No. 06-1 (Tustin Legacy / Columbus Villages), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 2024 860 912
Tustin Unified School Dist., Community Facs. Dist. No. 88-1, Special Tax Rev. Ref. Bonds, Series 2015,
BAM insured, 5.00% 2022 		830 832
Twin Rivers Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016-B, Assured Guaranty Municipal insured, 5.00% 2024 400 424
Ukiah Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2005 Election, Series 2006, National insured, 0% 2022 175 175
Ukiah Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2005 Election, Series 2006, MBIA insured, 0% 2023 1,500 1,473
Capital Group California Core Municipal Fund — Page 51 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
Union City, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Redev. Bonds, Series 2015-A, 5.00% 2023 USD375 $390
Regents of the University of California, Limited Project Rev. Bonds, Series 2022-S, 5.00% 2031 1,150 1,393
Val Verde Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 4.00% 2023 600 614
City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 2028 590 655
Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2016-B, 3.50% 2045 2,780 2,809
Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2019-A, 4.00% 2049 2,320 2,382
Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2020-A, 3.00% 2050 6,685 6,685
Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2017-CQ, 4.00% 2047 1,075 1,099
Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2018-CR, 4.00% 2048 3,780 3,877
Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2019-CS, 4.00% 2049 2,220 2,278
Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2020-CT, 3.00% 2050 4,700 4,700
Dept. of Veterans Affairs, Veterans G.O. Rev. Ref. Bonds, Series 2016-CN, 3.50% 2045 470 474
Victor Valley Union High School Dist., G.O. Rev. Ref. Bonds, Series 2016-B, Assured Guaranty Municipal insured, 4.00% 2024 730 762
Victor Valley Union High School Dist., G.O. Rev. Ref. Bonds, Series 2016-B, Assured Guaranty Municipal insured, 4.00% 2026 270 292
City of Vista, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Redev. Bonds, Series 2015-B-1,
Assured Guaranty Municipal insured, 5.00% 2022 		340 341
City of Vista, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Redev. Bonds, Series 2015-B-1,
Assured Guaranty Municipal insured, 4.00% 2025 		400 423
Dept. of Water Resources, Water System Rev. Bonds (Central Valley Project), Series 2021-BD, 5.00% 2028 1,400 1,651
West Basin Municipal Water Dist., Rev. Ref. Bonds, Series 2021-A, 5.00% 2030 1,575 1,888
West Basin Municipal Water Dist., Rev. Ref. Bonds, Series 2021-A, 5.00% 2031 745 904
West Contra Costa Unified School Dist., G.O. Bonds, 2010 Election, Series 2020-F,
Assured Guaranty Municipal insured, 4.00% 2028 		600 659
West Contra Costa Unified School Dist., G.O. Bonds, 2012 Election, Series 2020-E,
Assured Guaranty Municipal insured, 4.00% 2030 		900 998
West Contra Costa Unified School Dist., G.O. Rev. Ref. Bonds, 2005 Election, Series 2008-B, 6.00% 2027 3,000 3,571
Westminster School Dist., G.O. Bonds, Capital Appreciation Bonds, 2008 Election, Series 2009-A-1,
Assured Guaranty insured, 0% 2023 		1,000 982
Whittier City School Dist., G.O. Rev. Ref. Bonds, Series 2016, 4.00% 2030 825 875
City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Capital Projects Bonds,,
Series 2021, Assured Guaranty Municipal insured, 4.00% 2029 		215 232
City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Capital Projects Bonds,,
Series 2021, Assured Guaranty Municipal insured, 4.00% 2030 		235 249
City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Capital Projects Bonds,
Series 2021, Assured Guaranty Municipal insured, 4.00% 2031 		260 274
Yosemite Community College Dist., G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2010-D, 0% 2031 500 386
      515,996
Missouri 0.01%      
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program),
Series 2015-A, 3.75% 2038 		75 76
Texas 0.08%      
Tarrant County Cultural Education Facs. Fin. Corp., Rev. Ref. Bonds (Christus Health), Series 2018-A, 5.00% 2024 500 527
Capital Group California Core Municipal Fund — Page 52 of 77
unaudited
Bonds, notes & other debt instruments (continued)
United States 0.46% 		  Principal amount
(000) 		Value
(000)
Freddie Mac, Multi Family Mortgage Bonds, Series 2019-ML-05, Class ACA, 3.35% 2033 USD2,876 $2,918
Total bonds, notes & other debt instruments (cost: $532,364,000)     519,517
Short-term securities 11.15%
Municipals 11.15% 		     
State of California, Fin. Auth., Recovery Zone Fac. Bonds (Chevron U.S.A., Inc. Project), Series 2010-B, 1.85% 20351 5,000 5,000
State of California, City of Irvine, Reassessment Dist. No. 87-8, Limited Obligation Improvement Bonds,
Series 1999, 1.53% 20241 		1,000 1,000
State of California, Irvine Ranch Water Dist. Nos. 105, 140, 240 and 250, Consolidated G.O. Bonds, Series 1993, 1.55% 20331 16,200 16,200
State of California, Kern Community College Dist., Facs. Improvement Dist. No. 1, G.O. Bond Anticipation Notes, Capital Appreciation Notes, Series 2020, 0% 2023 2,000 1,952
State of California, City of Los Angeles, Dept. of Water and Power, Power System Demand Rev. Bonds,
Series 2002-A-2, 1.55% 20351 		5,000 5,000
State of California, City of Los Angeles, Dept. of Water and Power, Rev. Bonds, Series 2021-A-1, 1.71% 20501 8,500 8,500
State of California, City of Los Angeles, Tax and Rev. Anticipation Notes, Series 2022, 4.00% 6/29/2023 3,000 3,069
State of California, Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2016-B-2, 1.71% 20371 3,605 3,605
State of California, Municipal Fin. Auth., Pollution Control Rev. Ref. Bonds (Chevron U.S.A., Inc. Project),
Series 2005, 1.60% 20251 		6,500 6,500
State of California, Pollution Control Fncg. Auth., Environmental Impact Rev. Bonds
(Air Products and Chemicals, Inc. Project), Series 1997-B, 1.62% 20421 		8,300 8,300
State of California, County of Riverside, Tax and Rev. Anticipation Notes, Series 2022, 5.00% 6/30/2023 5,000 5,154
State of California, San Diego Unified School Dist., Tax and Rev. Anticipation Notes, Series 2022-A,
4.00% 6/30/2023 		3,585 3,665
State of California, Statewide Communities Dev. Auth., Pollution Control Rev. Ref. Bonds
(Chevron U.S.A., Inc. Project), Series 2002, 1.60% 20241 		2,435 2,435
Total short-term securities (cost: $70,341,000)     70,380
Total investment securities 93.45% (cost: $602,705,000)     589,897
Other assets less liabilities 6.55%     41,327
Net assets 100.00%     $631,224
Futures contracts
Contracts Type Number of
contracts 		Expiration Notional
amount
(000) 		Value and
unrealized
appreciation
(depreciation)
at 7/31/2022
(000)
5 Year U.S. Treasury Note Futures Long 500 September 2022 USD56,863 $978
10 Year Ultra U.S. Treasury Note Futures Short 190 September 2022 (24,937) (813)
30 Year Ultra U.S. Treasury Bond Futures Short 73 September 2022 (11,557) (254)
          $(89)
Capital Group California Core Municipal Fund — Page 53 of 77
unaudited
1 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. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date.
2 Acquired in a transaction exempt from registration under Rule 144A 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 $6,984,000, which represented 1.11% of the net assets of the fund.
Key to abbreviations
Agcy. = Agency
Assn. = Association
Auth. = Authority
Certs. = Certificates
Dept. = Department
Dev. = Development
Dist. = District
Econ. = Economic
Fac. = Facility
Facs. = Facilities
Fin. = Finance
Fncg. = Financing
G.O. = General Obligation
Part. = Participation
Preref. = Prerefunded
Redev. = Redevelopment
Ref. = Refunding
Rev. = Revenue
SIFMA = Securities Industry and Financial Markets Association
USD = U.S. dollars
Capital Group California Core Municipal Fund — Page 54 of 77
Capital Group California Short-Term Municipal Fund
Investment portfolio
July 31, 2022
unaudited
Bonds, notes & other debt instruments 83.28%
California 83.28% 		  Principal amount
(000) 		Value
(000)
City of Alhambra, Rev. Ref. Bonds (Atherton Baptist Homes Project), Series 2016, 5.00% 2023 USD450 $456
City of Anaheim, Housing and Public Improvements Auth., Rev. Bonds
(Electric Utility Distribution System Improvements), Series 2020-A, 5.00% 2022 		230 231
City of Anaheim, Housing and Public Improvements Auth., Rev. Bonds
(Electric Utility Distribution System Improvements), Series 2020-A, 5.00% 2023 		200 208
City of Bakersfield, Wastewater Rev. Ref. Bonds, Series 2015-A, 5.00% 2027 1,000 1,098
City of Beaumont, Wastewater Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2022 225 226
City of Burbank, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Redev. Bonds, Series 2015,
BAM insured, 5.00% 2022 		500 506
Trustees of the California State University, Systemwide Rev. Bonds, Series 2013-A, 5.00% 2023 400 417
Trustees of the California State University, Systemwide Rev. Bonds, Series 2020-A, 5.00% 2024 800 860
Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-B-3, 4.00% 2051 (put 2023) 650 660
Central Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-A, 4.00% 2024 395 412
Chino Basin Regional Fin. Auth., Rev. Notes (Inland Empire Utilities Interim Fncg.), Series 2020-B, 4.00% 2025 500 533
City of Chino, Community Facs. Dist. No. 2003-3, Special Tax Bonds, Series 2021, 4.00% 2023 395 401
City of Chino, Community Facs. Dist. No. 2003-3, Special Tax Bonds, Series 2021, 4.00% 2024 410 420
City of Chino, Community Facs. Dist. No. 2003-3, Special Tax Bonds, Series 2021, 4.00% 2025 430 443
City of Chino, Community Facs. Dist. No. 2003-3, Special Tax Bonds, Series 2021, 4.00% 2026 445 460
Citrus Community College Dist., G.O. Bonds, 2020 Election, Series 2021-A, 4.00% 2025 370 393
Coast Community College Dist., G.O. Bonds, Capital Appreciation Bonds, Series 2006-B,
Assured Guaranty insured, 0% 2026 		1,205 1,104
Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2022-A-1, 4.00% 2053 (put 2028) 1,000 1,040
Compton Unified School Dist., G.O. Bonds, 2015 Election, Series 2019-B, BAM insured, 5.00% 2025 125 136
Compton Unified School Dist., G.O. Bonds, 2015 Election, Series 2019-B, BAM insured, 5.00% 2027 500 570
Del Mar Union School Dist., Community Facs. Dist. No. 99-1, Special Tax Bonds, Series 2019, 4.00% 2024 400 412
Del Mar Union School Dist., Community Facs. Dist. No. 99-1, Special Tax Bonds, Series 2019, 4.00% 2025 410 426
East Side Union High School Dist., G.O. Rev. Ref. Bonds, Series 2020, BAM insured, 5.00% 2025 845 929
Eastern Municipal Water Dist., Community Facs. Dist. No. 2017-79 (Eagle Crest), Special Tax Bonds, Series 2021, 4.00% 2023 255 259
Eastern Municipal Water Dist., Community Facs. Dist. No. 2017-79 (Eagle Crest), Special Tax Bonds, Series 2021, 4.00% 2025 275 285
Eastern Municipal Water Dist., Community Facs. Dist. No. 2017-79 (Eagle Crest), Special Tax Bonds, Series 2021, 4.00% 2026 285 297
Eastern Municipal Water Dist., Fin. Auth., Water and Wastewater Rev. Ref. Bonds, Series 2020-A, 5.00% 2024 225 239
Eastern Municipal Water Dist., Fin. Auth., Water and Wastewater Rev. Ref. Bonds, Series 2020-A, 5.00% 2026 300 335
Educational Facs. Auth., Rev. Bonds (Chapman University), Series 2021-A, 5.00% 2025 425 457
County of El Dorado, Community Facs. Dist. No. 1992-1 (El Dorado Hills Dev.), Special Tax Rev. Ref. Bonds,
Series 2012, 5.00% 2022 		845 847
Fowler Unified School Dist., G.O. Rev. Ref. Bonds, Series 2014, Assured Guaranty Municipal insured, 4.00% 2024 745 777
G.O. Bonds, Series 2018, 5.00% 2026 1,000 1,116
G.O. Bonds, Series 2021, 5.00% 2027 1,475 1,709
G.O. Bonds, Series 2022, 5.00% 2027 1,000 1,146
G.O. Bonds, Series 2013-E, (SIFMA Municipal Swap Index + 0.43%) 1.76% 2029 (put 2023)1 500 500
G.O. Rev. Ref. Bonds, Series 2019, 5.00% 2027 1,200 1,390
Glendale Community College Dist., G.O. Rev. Ref. Bonds, 2016 Election, Series 2020-B, 4.00% 2023 500 512
Glendale Unified School Dist., G.O. Bonds, 2011 Election, Series 2020-E, 4.00% 2024 475 497
Capital Group California Short-Term Municipal Fund — Page 55 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2015-A, 5.00% 2033 (preref. 2025) USD720 $786
Health Facs. Fncg. Auth., Rev. Bonds (Adventist Health System/West), Series 2013-A, 5.00% 2024 410 419
Health Facs. Fncg. Auth., Rev. Bonds (El Camino Hospital), Series 2017, 5.00% 2025 400 437
Health Facs. Fncg. Auth., Rev. Bonds (Providence St. Joseph Health), Series 2016-A, 5.00% 2022 300 302
Health Facs. Fncg. Auth., Rev. Bonds (Providence St. Joseph Health), Series 2016-B-2, 4.00% 2036 (put 2024) 110 114
Health Facs. Fncg. Auth., Rev. Bonds (Sutter Health), Series 2016-A, 5.00% 2022 (escrowed to maturity) 200 202
Health Facs. Fncg. Auth., Rev. Bonds (Sutter Health), Series 2018-A, 5.00% 2025 400 437
Health Facs. Fncg. Auth., Rev. Bonds (Sutter Health), Series 2016-A, 5.00% 2026 (preref. 2025) 275 304
Health Facs. Fncg. Auth., Rev. Bonds (Sutter Health), Series 2016-A, 5.00% 2046 (preref. 2025) 250 276
Health Facs. Fncg. Auth., Rev. Ref. Bonds (Lucile Salter Packard Children’s Hospital at Stanford), Series 2022-A, 5.00% 2024 680 717
Health Facs. Fncg. Auth., Rev. Ref. Bonds (St. Joseph Health System), Series 2009-D, 1.70% 2033 (put 2022) 750 750
Health Facs. Fncg. Auth., Rev. Ref. Bonds (St. Joseph Health System), Series 2009-C, 5.00% 2034 (put 2022) 855 861
Health Facs. Fncg. Auth., Rev. Ref. Bonds (Sutter Health), Series 2016-B, 5.00% 2026 700 779
Hemet Unified School Dist., G.O. Rev. Ref. Bonds, Series 2014, Assured Guaranty Municipal insured, 4.00% 2024 500 521
Infrastructure and Econ. Dev. Bank, Rev. Ref. Bonds (J. Paul Getty Trust), Series 2021-B-2, 3.00% 2047 (put 2026) 1,500 1,549
Infrastructure and Econ. Dev. Bank, Rev. Ref. Bonds (Segerstrom Center for the Arts), Series 2016-B, 5.00% 2023 1,000 1,030
City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2015, 5.00% 2024 965 1,023
Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, 4.00% 2027 285 307
Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 2028 275 301
County of Kern, Water Agcy., Improvement Dist. No. 4, Water Rev. Ref. Bonds, Series 2016-A,
Assured Guaranty Municipal insured, 5.00% 2023 		800 821
Kern Community College Dist., Facs. Improvement Dist. No. 1, G.O. Bonds, 2016 Election, Series 2020-C, 4.00% 2026 645 697
Kings Canyon Joint Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 2022 470 470
La Canada Unified School Dist., G.O. Bonds, 2017 Election, Series 2020-B, 4.00% 2022 270 270
La Canada Unified School Dist., G.O. Bonds, 2017 Election, Series 2020-B, 4.00% 2023 260 267
La Canada Unified School Dist., G.O. Bonds, 2017 Election, Series 2020-B, 4.00% 2024 425 445
Lake Elsinore Facs. Fin. Auth., Local Agcy. Rev. Ref. Bonds, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 2026 195 210
Lake Elsinore Facs. Fin. Auth., Local Agcy. Rev. Ref. Bonds, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 2027 210 230
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2014-D, 4.00% 2023 500 512
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2014-B, 5.00% 2023 825 851
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2016-B, 5.00% 2024 800 852
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-B, 5.00% 2028 500 584
City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2017-C, 5.00% 2029 1,100 1,259
City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2020-A, 5.00% 2025 500 548
City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2020-A, 5.00% 2026 300 337
City of Los Angeles, Solid Waste Resources Rev. Bonds, Series 2013-A, 2.00% 2023 500 501
County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1,
Special Tax Bonds, Series 2022, 5.00% 2029 		150 168
County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1,
Special Tax Bonds, Series 2022, 5.00% 2030 		175 197
County of Los Angeles, Metropolitan Transportation Auth., Measure R Sales Tax Rev. Ref. Green Bonds,
Series 2020-A, 5.00% 2025 		1,500 1,641
County of Los Angeles, Metropolitan Transportation Auth., Measure R Sales Tax Rev. Ref. Green Bonds,
Series 2020-A, 5.00% 2026 		400 450
County of Los Angeles, Metropolitan Transportation Auth., Proposition C Sales Tax Rev. Bonds, Series 2021-A, 5.00% 2027 675 778
Capital Group California Short-Term Municipal Fund — Page 56 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2020-RYQ, 5.00% 2025 USD750 $820
Los Angeles Unified School Dist., G.O. Rev. Ref. Bonds, Series 2015-A, 5.00% 2023 685 707
Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 5, Special Tax Bonds, Series 2021, 4.00% 2026 230 238
Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, BAM insured, 4.00% 2022 250 250
Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 2026 755 807
Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2022-B, 3.00% 2028 955 1,011
Modesto Irrigation Dist., Electric System Rev. Ref. Bonds, Series 2016, 5.00% 2023 160 166
Modesto Irrigation Dist., Electric System Rev. Ref. Bonds, Series 2021, 5.00% 2026 635 710
Mountain View Whisman School Dist., G.O. Bonds, 2012 Election, Series 2016-B, 5.00% 2025 610 671
Municipal Fin. Auth., Multi Family Housing Rev. Bonds (Walnut Apartments), Series 2021-A,
0.45% 2024 (put 2023) 		625 608
Municipal Fin. Auth., Solid Waste Rev. Ref. Bonds (Republic Services, Inc. Project), Capital Appreciation Bonds, Series 2010, Assured Guaranty Municipal insured, 0% 2023 260 254
Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 5.00% 2025 400 425
Napa Valley Unified School Dist., G.O. Rev. Ref. Bonds, Series 2013, 5.00% 2024 (preref. 2023) 250 259
New Haven Unified School Dist., G.O. Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2012,
Assured Guaranty Municipal insured, 0% 2023 		965 947
Northern California Energy Auth., Commodity Supply Rev. Bonds, Series 2018, 4.00% 2049 (put 2024) 1,460 1,495
County of Orange, Sanitation Dist., Wastewater Rev. Ref. Obligations, Series 2021-A, 5.00% 2026 750 833
County of Orange, Water Dist. Rev. Ref. Bonds, Series 2019-C, 5.00% 2024 500 534
Pasadena Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016-B, 5.00% 2024 655 698
Peralta Community College Dist., G.O. Bonds, 2006 Election, Series 2020-E-1, 5.00% 2025 1,000 1,091
City of Perris, Joint Powers Auth., Local Agcy. Rev. Ref. Bonds
(CFD No. 2001-1 IA No. 4 and No. 5; CFD No. 2005-1 IA No. 4), Series 2017-B, 5.00% 2024 		990 1,043
Perris Union High School Dist., G.O. Bonds, 2012 Election, Series 2021-C, 4.00% 2024 240 251
Perris Union High School Dist., G.O. Bonds, 2012 Election, Series 2021-C, 4.00% 2025 400 426
Pittsburg Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2010 Election, Series 2012-C,
0% 2047 (preref. 2022) 		200 47
Public Fin. Auth., Rev. Ref. Bonds (O’Conner Woods), Series 2022, 4.00% 2026 440 467
Public Works Board, Lease Rev. Bonds (Various Capital Projects), Series 2014-E, 5.00% 2022 500 501
Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2017-B, 5.00% 2024 330 353
City of Rancho Cordova, Community Facs. Dist. No. 2018-1 (Grantline), Special Tax Bonds, Series 2021-B,
3.00% 2024 		85 85
City of Rancho Cordova, Community Facs. Dist. No. 2018-1 (Grantline), Special Tax Bonds, Series 2021-B,
4.00% 2026 		105 109
City of Rancho Cordova, Community Facs. Dist. No. 2018-1 (Grantline), Special Tax Bonds, Series 2021-B,
4.00% 2028 		120 124
Ravenswood City School Dist., G.O. Bonds, 2016 Election, Series 2016, 5.00% 2023 445 460
City of Richmond, Wastewater Rev. Ref. Bonds, Series 2019-B, 5.00% 2023 940 973
Riverside Unified School Dist., G.O. Bonds, 2016 Election, Series 2019, 4.00% 2024 125 131
Robla School Dist., G.O. Bonds, 2018 Election, Series 2019-A, Assured Guaranty Municipal insured, 4.00% 2022 740 740
City of Roseville, Fin. Auth., Special Tax Rev. Ref. Bonds, Series 2016, 4.00% 2022 620 621
City of Sacramento, Municipal Utility Dist., Electric Rev. Bonds, Series 1997-K, AMBAC insured, 5.25% 2024 80 84
City of Sacramento, Municipal Utility Dist., Electric Rev. Ref. Bonds, Series 2018-F, 5.00% 2026 500 563
Sacramento Unified School Dist., G.O. Bonds, 2012 Election, Series 2019-D, BAM insured, 4.00% 2023 450 460
Sacramento Unified School Dist., G.O. Bonds, 2012 Election, Series 2019-D, BAM insured, 4.00% 2024 520 541
Sacramento Unified School Dist., G.O. Rev. Ref. Bonds, Series 2022, BAM insured, 5.00% 2027 815 927
City of San Diego, Community Facs. Dist. No. 2 (Santaluz), Improvement Area No. 1, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 2026 490 527
City of San Diego, Public Facs. Fncg. Auth., Lease Rev. Bonds (Capital Improvement Projects), Series 2021-A, 5.00% 2027 255 293
City of San Diego, Public Facs. Fncg. Auth., Sewer Rev. Bonds, Series 2022-A, 5.00% 2027 500 571
Capital Group California Short-Term Municipal Fund — Page 57 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
City of San Diego, Public Fin. Auth., Water Rev. Bonds, Series 2020-A, 5.00% 2022 USD335 $335
County of San Diego, Grossmont Healthcare Dist., G.O. Rev. Ref. Bonds, Series 2021-E, 5.00% 2028 320 371
County of San Diego, Regional Airport Auth., Airport Rev. and Rev. Ref. Bonds, Series 2019-A, 5.00% 2023 500 515
County of San Diego, Regional Airport Auth., Airport Rev. and Rev. Ref. Bonds, Series 2019-A, 5.00% 2024 500 529
County of San Diego, Regional Transportation Commission, Limited Sales Tax Rev. Bonds, Series 2021-B, 5.00% 2026 140 155
City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series 2009-D-2, 4.00% 2023 (escrowed to maturity) 400 408
City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series 2016-A-2, 5.00% 2024 400 423
City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series 2019-D-2, 5.00% 2026 500 553
City and County of San Francisco, G.O. Bonds (Earthquake Safety and Emergency Response), Series 2021-E-1, 5.00% 2025 815 892
City and County of San Francisco, G.O. Rev. Ref. Bonds, Series 2020-R-1, 5.00% 2030 1,100 1,280
City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Special Tax Rev. Ref. Bonds
(San Francisco Redev. Projects), Series 2014-C, 5.00% 2022 		250 250
San Francisco Community College Dist., G.O. Rev. Ref. Bonds, Series 2015, 5.00% 2024 1,365 1,448
San Gabriel Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2008 Election, Series 2012-B, 0% 2023 200 196
City of San Jacinto, Community Facs. Dist. No. 2002-1 (Rancho San Jacinto Phase 2), Special Tax Rev. Ref. Bonds, Series 2016, 5.00% 2027 900 982
City of San Jose, Airport Rev. Ref. Bonds, Series 2021-A, BAM insured, 5.00% 2026 440 484
San Jose Unified School Dist., G.O. Rev. Ref. Bonds, Series 2017, 5.00% 2022 155 155
Santa Monica-Malibu Unified School Dist., Certs. of Part., Capital Appreciation Notes, Series 2001-C,
National insured, 0% 2022 		100 100
Santa Monica-Malibu Unified School Dist., School Facs. Improvement Dist. No. 2 (Santa Monica Schools),
G.O. Bonds, 2018 Election, Series 2021-B, 4.00% 2024 		485 507
Santa Monica-Malibu Unified School Dist., School Facs. Improvement Dist. No. 2 (Santa Monica Schools),
G.O. Bonds, 2018 Election, Series 2021-B, 4.00% 2025 		335 356
Silicon Valley Clean Water, Wastewater Rev. Notes, Series 2021-B, 0.50% 2026 1,025 954
Southern California Public Power Auth., Rev. Ref. Green Bonds (Linden Wind Energy Project), Series 2020-A, 5.00% 2024 550 576
Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project),
Series 2021-1, 5.00% 2024 		520 553
Southwestern Community College Dist., G.O. Rev. Ref. Bonds (2019 Crossover), Series 2016-B, 4.00% 2022 310 310
Statewide Communities Dev. Auth., Health Fac. Rev. Ref. Bonds (Los Angeles Jewish Home for the Aging),
Series 2019-A, 4.00% 2022 		265 267
Statewide Communities Dev. Auth., Health Fac. Rev. Ref. Bonds (Los Angeles Jewish Home for the Aging),
Series 2019-A, 4.00% 2023 		250 258
Statewide Communities Dev. Auth., Health Fac. Rev. Ref. Bonds (Los Angeles Jewish Home for the Aging),
Series 2019-B, 4.00% 2023 		660 680
Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Harriet Tubman Terrace Apartments),
Series 2021-Q, 0.24% 2024 (put 2023) 		2,000 1,971
Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Noble Creek Apartments), Series 2022-J, 3.50% 2025 (put 2024) 1,476 1,504
Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Washington Court Apartments),
Series 2021-E, 0.22% 2023 (put 2022) 		1,000 1,000
Statewide Communities Dev. Auth., Rev. Bonds (Adventist Health System/West), Series 2018-A, 5.00% 2023 135 138
Statewide Communities Dev. Auth., Rev. Bonds (Adventist Health System/West), Series 2018-A, 5.00% 2024 200 210
Statewide Communities Dev. Auth., Rev. Bonds (Adventist Health System/West), Series 2018-A, 5.00% 2025 415 443
Statewide Communities Dev. Auth., Rev. Bonds (Cottage Health System Obligated Group), Series 2015, 5.00% 2043 (preref. 2024) 1,500 1,610
Statewide Communities Dev. Auth., Rev. Bonds (Huntington Memorial Hospital), Series 2018, 5.00% 2026 325 360
Torrance Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2008 Election, Series 2009-B-1, 0% 2023 250 245
Capital Group California Short-Term Municipal Fund — Page 58 of 77
unaudited
Bonds, notes & other debt instruments (continued)
California (continued) 		  Principal amount
(000) 		Value
(000)
City of Tracy, Successor Agcy. to the Community Dev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016,
Assured Guaranty Municipal insured, 5.00% 2022 		USD450 $450
Transbay Joint Powers Auth., Senior Tax Allocation Green Bonds, Series 2020-A, 5.00% 2025 500 545
Transbay Joint Powers Auth., Senior Tax Allocation Green Bonds, Series 2020-A, 5.00% 2026 550 613
Twin Rivers Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016-B, Assured Guaranty Municipal insured, 5.00% 2027 225 252
Ukiah Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2005 Election, Series 2006, MBIA insured, 0% 2023 440 432
Regents of the University of California, G.O. Rev. Bonds, Series 2013-AK, 5.00% 2048 (put 2023) 780 799
Val Verde Unified School Dist., G.O. Bonds, 2020 Election, Series 2020-A, BAM insured, 4.00% 2023 450 461
Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2016-B, 3.50% 2045 345 349
Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2019-A, 4.00% 2049 1,085 1,114
Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2020-A, 3.00% 2050 1,315 1,315
Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2017-CQ, 4.00% 2047 510 521
Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2018-CR, 4.00% 2048 950 974
Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2020-CT, 3.00% 2050 1,875 1,875
Dept. of Veterans Affairs, Veterans G.O. Rev. Ref. Bonds, Series 2016-CN, 3.50% 2045 475 480
West Contra Costa Unified School Dist., G.O. Bonds, 2012 Election, Series 2020-E,
Assured Guaranty Municipal insured, 4.00% 2024 		300 313
West Contra Costa Unified School Dist., G.O. Bonds, 2012 Election, Series 2020-E,
Assured Guaranty Municipal insured, 4.00% 2026 		640 689
West Contra Costa Unified School Dist., G.O. Rev. Ref. Bonds, Series 2017-A-1, 5.00% 2024 250 266
Western Riverside Water and Wastewater Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2016-A, 5.00% 2022 100 100
City of Westminster, Successor Agcy. to the Redev. Agcy., Commercial Redev. Project No. 1,
Tax Allocation Rev. Ref. Bonds, Series 2016-B, BAM insured, 4.00% 2022 		120 121
Whittier Union High School Dist., G.O. Rev. Ref. Bonds, Series 2015, 5.00% 2022 300 300
William S. Hart Union High School Dist., G.O. Bonds, Capital Appreciation Bonds, 2001 Election, Series 2005-B, Assured Guaranty Municipal insured, 0% 2025 1,000 940
City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Capital Projects Bonds,
Series 2021, 4.00% 2026 		160 169
City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Capital Projects Bonds,
Series 2021, Assured Guaranty Municipal insured, 4.00% 2027 		180 192
City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Capital Projects Bonds,
Series 2021, Assured Guaranty Municipal insured, 4.00% 2028 		200 215
Total bonds, notes & other debt instruments (cost: $105,074,000)     103,234
Short-term securities 14.35%
Municipals 14.35% 		     
State of California, Fin. Auth., Recovery Zone Fac. Bonds (Chevron U.S.A., Inc. Project), Series 2010-A, 1.60% 20351 4,200 4,200
State of California, Irvine Ranch Water Dist. Nos. 105, 140, 240 and 250, Consolidated G.O. Bonds, Series 1993, 1.55% 20331 300 300
State of California, City of Los Angeles, Dept. of Water and Power, Rev. Bonds, Series 2021-A-1, 1.71% 20501 4,000 4,000
State of California, City of Los Angeles, Tax and Rev. Anticipation Notes, Series 2022, 4.00% 6/29/2023 500 511
State of California, Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2016-B-2, 1.71% 20371 3,500 3,500
State of California, Municipal Fin. Auth., Pollution Control Rev. Ref. Bonds (Chevron U.S.A., Inc. Project),
Series 2005, 1.60% 20251 		1,500 1,500
Capital Group California Short-Term Municipal Fund — Page 59 of 77
unaudited
Short-term securities (continued)
Municipals (continued) 		  Principal amount
(000) 		Value
(000)
State of California, San Diego Unified School Dist., Tax and Rev. Anticipation Notes, Series 2022-A,
4.00% 6/30/2023 		USD715 $731
State of California, Regents of the University of California, Medical Center Pooled Rev. Bonds, Series 2007-B-1, 1.65% 20321 3,045 3,045
Total short-term securities (cost: $17,780,000)     17,787
Total investment securities 97.63% (cost: $122,854,000)     121,021
Other assets less liabilities 2.37%     2,933
Net assets 100.00%     $123,954
Futures contracts
Contracts Type Number of
contracts 		Expiration Notional
amount
(000) 		Value and
unrealized
appreciation
(depreciation)
at 7/31/2022
(000)
5 Year U.S. Treasury Note Futures Long 53 September 2022 USD6,028 $112
10 Year Ultra U.S. Treasury Note Futures Short 26 September 2022 (3,413) (109)
          $3
1 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. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date.
Key to abbreviations
Agcy. = Agency
Auth. = Authority
Certs. = Certificates
Dept. = Department
Dev. = Development
Dist. = District
Econ. = Economic
Fac. = Facility
Facs. = Facilities
Fin. = Finance
Fncg. = Financing
G.O. = General Obligation
Part. = Participation
Preref. = Prerefunded
Redev. = Redevelopment
Ref. = Refunding
Rev. = Revenue
SIFMA = Securities Industry and Financial Markets Association
USD = U.S. dollars
Capital Group California Short-Term Municipal Fund — Page 60 of 77
Capital Group Core Bond Fund
Investment portfolio
July 31, 2022
unaudited
Bonds, notes & other debt instruments 98.55%
U.S. Treasury bonds & notes 43.39%
U.S. Treasury 35.15% 		  Principal amount
(000) 		Value
(000)
U.S. Treasury 2.125% 2023 USD3,415 $3,380
U.S. Treasury 2.25% 2023 500 495
U.S. Treasury 2.50% 2023 1,050 1,045
U.S. Treasury 2.75% 2023 4,542 4,534
U.S. Treasury 2.75% 2023 2,250 2,245
U.S. Treasury 2.00% 2024 3,288 3,234
U.S. Treasury 2.125% 20241 3,500 3,456
U.S. Treasury 2.25% 20241 3,713 3,672
U.S. Treasury 2.25% 2024 1,820 1,801
U.S. Treasury 2.75% 2024 2,500 2,493
U.S. Treasury 3.00% 2024 45,174 45,255
U.S. Treasury 0.50% 2025 4,452 4,186
U.S. Treasury 1.375% 2025 8,128 7,839
U.S. Treasury 2.00% 2025 2,000 1,960
U.S. Treasury 2.625% 2025 6,600 6,567
U.S. Treasury 3.00% 2025 10,655 10,719
U.S. Treasury 7.625% 20251 481 536
U.S. Treasury 0.75% 2026 1,150 1,068
U.S. Treasury 0.75% 2026 32 30
U.S. Treasury 0.875% 2026 4,928 4,568
U.S. Treasury 1.625% 2026 3,000 2,884
U.S. Treasury 1.75% 2026 12,140 11,664
U.S. Treasury 1.125% 2027 477 444
U.S. Treasury 2.25% 2027 8,420 8,246
U.S. Treasury 2.25% 2027 2,200 2,152
U.S. Treasury 2.50% 2027 11,000 10,904
U.S. Treasury 3.25% 2027 15,502 15,901
U.S. Treasury 1.375% 2028 1,000 923
U.S. Treasury 1.50% 20281 13,500 12,548
U.S. Treasury 2.625% 2029 5,660 5,634
U.S. Treasury 2.875% 2032 10,116 10,308
U.S. Treasury 2.00% 20501 1,000 795
U.S. Treasury 2.25% 2052 346 292
      191,778
U.S. Treasury inflation-protected securities 8.24%      
U.S. Treasury Inflation-Protected Security 0.125% 20252 14,533 14,658
U.S. Treasury Inflation-Protected Security 0.125% 20252 1,126 1,140
U.S. Treasury Inflation-Protected Security 0.25% 20252 9,006 9,117
U.S. Treasury Inflation-Protected Security 0.375% 20252 1,355 1,384
U.S. Treasury Inflation-Protected Security 0.125% 20262 12,936 13,051
U.S. Treasury Inflation-Protected Security 0.875% 20292 5,296 5,577
      44,927
Total U.S. Treasury bonds & notes     236,705
Capital Group Core Bond Fund — Page 61 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans 25.45%
Financials 9.40% 		  Principal amount
(000) 		Value
(000)
ACE INA Holdings, Inc. 2.875% 2022 USD150 $150
ACE INA Holdings, Inc. 3.35% 2026 45 45
ACE INA Holdings, Inc. 4.35% 2045 50 49
AerCap Ireland Capital, Ltd. / AerCap Global Aviation Trust 2.45% 2026 1,637 1,457
AerCap Ireland Capital, Ltd. / AerCap Global Aviation Trust 3.00% 2028 1,190 1,045
Allstate Corp. 0.75% 2025 637 580
Allstate Corp. 3.28% 2026 175 174
American International Group, Inc. 2.50% 2025 2,000 1,928
Bank of America Corp. 1.197% 2026 (USD-SOFR + 1.01% on 10/24/2025)3 1,108 1,005
Bank of America Corp. 4.827% 2026 (USD-SOFR + 1.75% on 7/22/2025)3 1,345 1,368
Bank of America Corp. 1.734% 2027 (USD-SOFR + 0.96% on 7/22/2026)3 935 849
Bank of America Corp. 4.948% 2028 (USD-SOFR + 2.04% on 7/22/2027)3 1,345 1,385
Bank of America Corp. 1.922% 2031 (USD-SOFR + 1.37% on 10/24/2030)3 1,385 1,142
Bank of America Corp. 2.687% 2032 (USD-SOFR + 1.32% on 4/22/2031)3 748 651
BNP Paribas 2.159% 2029 (USD-SOFR + 1.218% on 9/15/2028)3,4 475 403
Citigroup, Inc. 4.45% 2027 400 401
Citigroup, Inc. 2.572% 2031 (USD-SOFR + 2.107% on 6/3/2030)3 1,283 1,117
Citigroup, Inc. 2.666% 2031 (USD-SOFR + 1.146% on 1/29/2030)3 502 443
Corebridge Financial, Inc. 3.50% 20254 1,028 1,006
Corebridge Financial, Inc. 3.65% 20274 1,462 1,409
Corebridge Financial, Inc. 3.85% 20294 497 472
Corebridge Financial, Inc. 3.90% 20324 281 262
Credit Suisse Group AG 3.80% 2023 500 498
Deutsche Bank AG 2.552% 2028 (USD-SOFR + 1.318% on 1/7/2027)3 1,500 1,318
Goldman Sachs Group, Inc. 1.757% 2025 (USD-SOFR + 0.73% on 1/24/2024)3 2,500 2,412
Goldman Sachs Group, Inc. 0.855% 2026 (USD-SOFR + 0.609% on 2/12/2025)3 400 368
Goldman Sachs Group, Inc. 1.093% 2026 (USD-SOFR + 0.789% on 12/9/2025)3 750 678
Goldman Sachs Group, Inc. 1.948% 2027 (USD-SOFR + 0.913% on 10/21/2026)3 679 620
Goldman Sachs Group, Inc. 3.814% 2029 (3-month USD-LIBOR + 1.158% on 4/23/2028)3 725 703
Goldman Sachs Group, Inc. 1.992% 2032 (USD-SOFR + 1.09% on 1/27/2031)3 708 584
Goldman Sachs Group, Inc. 4.017% 2038 (3-month USD-LIBOR + 1.373% on 10/31/2037)3 175 162
JPMorgan Chase & Co. 3.559% 2024 (3-month USD-LIBOR + 0.73% on 4/23/2023)3 1,125 1,123
JPMorgan Chase & Co. 2.301% 2025 (USD-SOFR + 1.16% on 10/15/2024)3 1,165 1,119
JPMorgan Chase & Co. 1.045% 2026 (USD-SOFR + 0.80% on 11/19/2025)3 1,500 1,355
JPMorgan Chase & Co. 4.08% 2026 (USD-SOFR + 1.32% on 4/26/2025)3 1,500 1,500
JPMorgan Chase & Co. 4.323% 2028 (USD-SOFR + 1.56% on 4/26/2027)3 1,250 1,256
JPMorgan Chase & Co. 4.851% 2028 (USD-SOFR + 1.99% on 7/25/2027)3 1,410 1,448
JPMorgan Chase & Co. 2.58% 2032 (USD-SOFR + 1.25% on 4/22/2031)3 232 201
Lloyds Banking Group PLC 4.375% 2028 200 198
Marsh & McLennan Companies, Inc. 3.875% 2024 495 498
Marsh & McLennan Companies, Inc. 2.25% 2030 715 626
Metropolitan Life Global Funding I 0.95% 20254 757 706
Morgan Stanley 1.164% 2025 (USD-SOFR + 0.56% on 10/21/2024)3 995 930
Morgan Stanley 2.72% 2025 (USD-SOFR + 1.152% on 7/22/2024)3 1,640 1,598
Morgan Stanley 0.985% 2026 (USD-SOFR + 0.72% on 12/10/2025)3 1,386 1,245
Morgan Stanley 4.679% 2026 (USD-SOFR + 1.669% on 7/17/2025)3 920 936
Morgan Stanley 1.593% 2027 (USD-SOFR + 0.879% on 5/4/2026)3 954 869
Morgan Stanley 2.699% 2031 (USD-SOFR + 1.143% on 1/22/2030)3 461 413
National Australia Bank, Ltd. 1.887% 20274 1,500 1,385
National Securities Clearing Corp. 0.40% 20234 3,000 2,887
Toronto-Dominion Bank 0.45% 2023 1,353 1,314
Toronto-Dominion Bank 1.45% 2025 1,500 1,433
Toronto-Dominion Bank 1.25% 2026 1,005 910
Capital Group Core Bond Fund — Page 62 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Financials (continued) 		  Principal amount
(000) 		Value
(000)
Toronto-Dominion Bank 1.95% 2027 USD1,250 $1,161
Wells Fargo & Company 2.572% 2031 (3-month USD-LIBOR + 1.00% on 2/11/2030)3 1,715 1,514
      51,309
Consumer discretionary 2.48%      
Amazon.com, Inc. 0.80% 2025 500 471
Amazon.com, Inc. 1.20% 2027 500 457
American Honda Finance Corp. 1.30% 2026 1,535 1,412
American Honda Finance Corp. 2.30% 2026 80 76
American Honda Finance Corp. 3.50% 2028 325 321
Bayerische Motoren Werke AG 0.75% 20244 1,250 1,187
Bayerische Motoren Werke AG 1.25% 20264 813 739
Daimler Trucks Finance North America, LLC 3.50% 20254 1,200 1,181
Daimler Trucks Finance North America, LLC 2.00% 20264 1,000 913
Daimler Trucks Finance North America, LLC 3.65% 20274 275 269
Daimler Trucks Finance North America, LLC 2.375% 20284 325 287
Home Depot, Inc. 1.50% 2028 1,840 1,668
Hyundai Capital America 0.80% 20234 1,200 1,172
Hyundai Capital America 1.80% 20254 481 442
Hyundai Capital America 2.375% 20274 387 346
McDonald’s Corp. 3.70% 2026 135 137
McDonald’s Corp. 3.50% 2027 185 185
NIKE, Inc. 2.375% 2026 615 597
Stellantis Finance US, Inc. 1.711% 20274 500 443
Stellantis Finance US, Inc. 2.691% 20314 500 410
Toyota Motor Credit Corp. 0.80% 2026 890 818
      13,531
Industrials 2.00%      
Avolon Holdings Funding, Ltd. 3.95% 20244 743 716
Avolon Holdings Funding, Ltd. 4.375% 20264 925 864
Boeing Company 5.04% 2027 521 532
Boeing Company 3.25% 2028 1,095 1,019
Canadian Pacific Railway, Ltd. 1.75% 2026 222 206
Emerson Electric Co. 1.80% 2027 383 355
General Dynamics Corp. 1.15% 2026 500 461
Honeywell International, Inc. 2.15% 2022 1,160 1,160
Honeywell International, Inc. 2.30% 2024 878 865
Masco Corp. 1.50% 2028 782 676
Raytheon Technologies Corp. 3.20% 2024 275 275
Siemens AG 0.40% 20234 1,140 1,120
Siemens AG 0.65% 20244 925 889
Siemens AG 1.20% 20264 808 745
Union Pacific Corp. 3.75% 2025 230 233
Union Pacific Corp. 2.15% 2027 793 752
United Technologies Corp. 3.65% 2023 27 27
      10,895
Health care 1.87%      
Abbott Laboratories 3.40% 2023 98 99
Abbott Laboratories 3.75% 2026 292 300
Aetna, Inc. 2.80% 2023 55 55
AmerisourceBergen Corp. 0.737% 2023 573 563
AstraZeneca Finance, LLC 1.20% 2026 600 554
Capital Group Core Bond Fund — Page 63 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Health care (continued) 		  Principal amount
(000) 		Value
(000)
AstraZeneca Finance, LLC 1.75% 2028 USD444 $408
AstraZeneca PLC 3.375% 2025 445 445
Becton, Dickinson and Company 3.734% 2024 17 17
Boston Scientific Corp. 3.45% 2024 296 297
CVS Health Corp. 1.30% 2027 1,134 1,013
CVS Health Corp. 4.30% 2028 282 287
GlaxoSmithKline PLC 3.375% 2023 750 751
HCA, Inc. 3.375% 20294 483 444
Merck & Co., Inc. 1.90% 2028 1,138 1,044
Novartis Capital Corp. 1.75% 2025 1,006 978
Novartis Capital Corp. 2.00% 2027 275 262
Pfizer, Inc. 2.95% 2024 485 485
Shire PLC 2.875% 2023 48 48
Thermo Fisher Scientific, Inc. 1.75% 2028 385 353
UnitedHealth Group, Inc. 1.15% 2026 495 461
UnitedHealth Group, Inc. 4.00% 2029 999 1,026
UnitedHealth Group, Inc. 2.00% 2030 148 132
UnitedHealth Group, Inc. 2.30% 2031 200 181
      10,203
Communication services 1.76%      
Alphabet, Inc. 0.80% 2027 490 443
Alphabet, Inc. 1.10% 2030 500 428
AT&T, Inc. 1.65% 2028 1,065 948
CCO Holdings, LLC and CCO Holdings Capital Corp. 4.908% 2025 165 167
CCO Holdings, LLC and CCO Holdings Capital Corp. 2.80% 2031 502 425
Comcast Corp. 3.95% 2025 539 549
Comcast Corp. 1.95% 2031 704 611
Magallanes, Inc. 3.638% 20254 1,143 1,120
Magallanes, Inc. 3.755% 20274 880 846
Magallanes, Inc. 4.054% 20294 359 342
Netflix, Inc. 4.875% 2028 475 473
Netflix, Inc. 5.875% 2028 250 260
Netflix, Inc. 6.375% 2029 25 27
SBA Tower Trust 1.631% 20264 983 893
Take-Two Interactive Software, Inc. 3.30% 2024 551 548
Take-Two Interactive Software, Inc. 3.70% 2027 367 364
Take-Two Interactive Software, Inc. 4.00% 2032 217 212
T-Mobile US, Inc. 3.75% 2027 500 492
Verizon Communications, Inc. 3.00% 2027 450 439
      9,587
Utilities 1.66%      
Ameren Corp. 2.50% 2024 373 363
Connecticut Light and Power Co. 3.20% 2027 1,025 1,017
Duke Energy Progress, LLC 3.375% 2023 786 788
Duke Energy Progress, LLC 3.70% 2028 200 201
Florida Power & Light Company 2.85% 2025 225 224
NextEra Energy Capital Holdings, Inc. 2.25% 2030 1,276 1,124
Pacific Gas and Electric Co. 3.45% 2025 150 144
Pacific Gas and Electric Co. 3.75% 2028 150 135
Pacific Gas and Electric Co. 2.50% 2031 175 140
Pacific Gas and Electric Co. 3.30% 2040 50 37
Southern California Edison Co. 0.975% 2024 925 878
Capital Group Core Bond Fund — Page 64 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Utilities (continued) 		  Principal amount
(000) 		Value
(000)
Southern California Edison Co. 3.70% 2025 USD1,000 $1,001
Southern California Edison Co. 2.85% 2029 1,000 911
Tampa Electric Co. 2.60% 2022 350 350
Virginia Electric and Power Co. 3.10% 2025 1,040 1,034
Xcel Energy, Inc. 3.35% 2026 749 736
      9,083
Consumer staples 1.53%      
7-Eleven, Inc. 0.95% 20264 250 225
7-Eleven, Inc. 1.30% 20284 175 149
Altria Group, Inc. 2.35% 2025 156 150
Altria Group, Inc. 4.40% 2026 117 118
Altria Group, Inc. 3.40% 2030 89 78
British American Tobacco PLC 3.462% 2029 1,850 1,608
Coca-Cola Company 1.00% 2028 1,625 1,448
Constellation Brands, Inc. 2.875% 2030 239 217
Keurig Dr Pepper, Inc. 3.20% 2030 500 468
Molson Coors Brewing Co. 3.00% 2026 245 234
Nestlé Holdings, Inc. 1.50% 20284 1,376 1,247
PepsiCo, Inc. 1.625% 2030 85 75
Philip Morris International, Inc. 1.50% 2025 274 260
Philip Morris International, Inc. 0.875% 2026 566 510
Procter & Gamble Company 0.55% 2025 796 742
Procter & Gamble Company 1.00% 2026 362 340
Procter & Gamble Company 3.00% 2030 495 486
      8,355
Information technology 1.32%      
Adobe, Inc. 1.90% 2025 647 630
Analog Devices, Inc. 1.70% 2028 418 379
Apple, Inc. 0.70% 2026 1,135 1,049
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 3.875% 2027 185 183
Broadcom, Inc. 1.95% 20284 123 108
Broadcom, Ltd. 3.625% 2024 270 270
Fidelity National Information Services, Inc. 1.15% 2026 783 711
Fidelity National Information Services, Inc. 1.65% 2028 129 113
Fiserv, Inc. 3.20% 2026 670 653
Fiserv, Inc. 2.25% 2027 527 484
Fortinet, Inc. 1.00% 2026 696 625
Intuit, Inc. 0.95% 2025 255 239
Intuit, Inc. 1.35% 2027 235 213
Microsoft Corp. 2.40% 2026 500 491
Oracle Corp. 2.30% 2028 668 600
PayPal Holdings, Inc. 1.65% 2025 481 463
      7,211
Energy 1.24%      
Boardwalk Pipeline Partners, LP 4.95% 2024 460 465
BP Capital Markets PLC 4.234% 2028 437 450
Canadian Natural Resources, Ltd. 2.05% 2025 996 942
Enbridge Energy Partners, LP 5.875% 2025 230 242
Energy Transfer Partners, LP 4.20% 2023 155 155
Energy Transfer Partners, LP 4.50% 2024 90 90
Equinor ASA 3.625% 2028 165 166
Capital Group Core Bond Fund — Page 65 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Corporate bonds, notes & loans (continued)
Energy (continued) 		  Principal amount
(000) 		Value
(000)
Exxon Mobil Corp. 2.019% 2024 USD127 $124
Exxon Mobil Corp. 2.44% 2029 183 170
Kinder Morgan, Inc. 3.15% 2023 495 494
MPLX, LP 3.375% 2023 75 75
MPLX, LP 4.00% 2028 350 342
ONEOK, Inc. 4.55% 2028 638 631
ONEOK, Inc. 6.35% 2031 469 503
Phillips 66 3.85% 2025 1,253 1,267
Pioneer Natural Resources Company 1.125% 2026 238 216
Schlumberger BV 4.00% 20254 165 166
Williams Companies, Inc. 3.50% 2030 248 231
Williams Companies, Inc. 2.60% 2031 45 39
      6,768
Real estate 1.16%      
Alexandria Real Estate Equities, Inc. 3.95% 2028 60 59
Alexandria Real Estate Equities, Inc. 1.875% 2033 596 468
American Campus Communities, Inc. 3.75% 2023 300 299
American Campus Communities, Inc. 4.125% 2024 415 418
American Tower Corp. 1.45% 2026 982 879
American Tower Corp. 1.60% 2026 717 654
Corporate Office Properties, LP 2.75% 2031 294 241
Equinix, Inc. 1.80% 2027 326 292
Equinix, Inc. 2.00% 2028 433 380
Essex Portfolio, LP 3.50% 2025 490 484
Gaming and Leisure Properties, Inc. 3.35% 2024 242 233
Public Storage 1.85% 2028 553 497
Public Storage 1.95% 2028 770 685
Scentre Group 3.50% 20254 250 245
Sun Communities Operating, LP 2.30% 2028 559 489
      6,323
Materials 1.03%      
Air Products and Chemicals, Inc. 1.50% 2025 757 720
Celanese US Holdings, LLC 6.05% 2025 1,000 1,009
Celanese US Holdings, LLC 6.165% 2027 750 762
Celanese US Holdings, LLC 6.33% 2029 750 773
Dow Chemical Co. 2.10% 2030 1,000 856
DowDuPont, Inc. 4.493% 2025 515 528
LYB International Finance III, LLC 2.25% 2030 496 423
Vale Overseas, Ltd. 3.75% 2030 587 538
      5,609
Total corporate bonds, notes & loans     138,874
Mortgage-backed obligations 10.83%
Federal agency mortgage-backed obligations 6.56% 		     
Fannie Mae Pool #889995 5.50% 20385 131 140
Fannie Mae Pool #MA4387 2.00% 20415 783 724
Fannie Mae Pool #AI5236 5.00% 20415 225 238
Fannie Mae Pool #AI8806 5.00% 20415 41 43
Fannie Mae Pool #FM4897 3.00% 20505 1,956 1,914
Fannie Mae, Series 2007-33, Class HE, 5.50% 20375 3 3
Fannie Mae, Series 2016-M2, Class AV2, Multi Family, 2.152% 20235 222 221
Capital Group Core Bond Fund — Page 66 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Mortgage-backed obligations (continued)
Federal agency mortgage-backed obligations (continued) 		  Principal amount
(000) 		Value
(000)
Fannie Mae, Series 2016-M3, Class ASQ2, Multi Family, 2.263% 20235 USD5 $5
Fannie Mae, Series 2013-M12, Class APT, Multi Family, 2.425% 20235,6 178 177
Fannie Mae, Series 2017-M3, Class AV2, Multi Family, 2.529% 20245,6 199 197
Fannie Mae, Series 2017-M10, Class AV2, Multi Family, 2.553% 20245,6 400 395
Fannie Mae, Series 2017-M15, Class AV2, Multi Family, 2.575% 20245,6 235 232
Fannie Mae, Series 2016-M9, Class A1, Multi Family, 2.003% 20265 23 22
Fannie Mae, Series 2016-M5, Class A1, Multi Family, 2.073% 20265 276 271
Fannie Mae, Series 2016-M11, Class A1, Multi Family, 2.08% 20265 425 421
Fannie Mae, Series 2016-M12, Class A1, Multi Family, 2.132% 20265 32 31
Fannie Mae, Series 2016-M4, Class A1, Multi Family, 2.187% 20265 38 37
Fannie Mae, Series 2017-M7, Class A2, Multi Family, 2.961% 20275,6 443 436
Freddie Mac, Series 3272, Class PA, 6.00% 20375 8 9
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA,
3.00% 20565,6 		320 315
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA,
3.00% 20565 		228 224
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA,
3.00% 20565,6 		226 222
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT,
3.25% 20575,6 		137 135
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT, 3.50% 20575 297 296
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT,
3.50% 20575 		146 146
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA,
3.50% 20585 		1,158 1,153
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA,
3.00% 20595 		1,166 1,144
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-1, Class A1, 3.50% 20285 1,277 1,278
Government National Mortgage Assn. 3.00% 20525,7 6,000 5,846
Government National Mortgage Assn. Pool #694836 5.665% 20595 1 2
Government National Mortgage Assn. Pool #776095 4.851% 20645 1 1
Government National Mortgage Assn. Pool #AA7554 6.64% 20645 8 8
Government National Mortgage Assn., Series 2012-H20, Class PT, 2.864% 20625,6 219 218
Uniform Mortgage-Backed Security 3.00% 20525,7 8,060 7,765
Uniform Mortgage-Backed Security 3.50% 20525,7 6,000 5,940
Uniform Mortgage-Backed Security 4.00% 20525,7 5,591 5,612
      35,821
Collateralized mortgage-backed obligations (privately originated) 2.35%      
Cascade Funding Mortgage Trust, Series 2020-HB4, Class A, 0.946% 20304,5,6 136 134
Cascade Funding Mortgage Trust, Series 2021-HB6, Class A, 0.898% 20364,5,6 938 903
Credit Suisse Mortgage Trust, Series 2017-RPL3, Class A1, 2.00% 20604,5,6 283 267
Finance of America Structured Securities Trust, Series 2019-JR2, Class A1,
2.00% 20694,5 		528 572
GCAT, Series 2021-NQM6, Class A1, 1.855% 20664,5,6 921 847
Home Partners of America Trust, Series 2021-2, Class A, 1.901% 20264,5 542 496
Legacy Mortgage Asset Trust, Series 2019-GS5, Class A1, 3.20% 20594,5,6 418 419
Legacy Mortgage Asset Trust, Series 2019-GS7, Class A1, 3.25% 20594,5,6 742 739
Mello Warehouse Securitization Trust, Series 2020-2, Class A,
(1-month USD-LIBOR + 0.80%) 3.059% 20534,5,6 		466 464
Mello Warehouse Securitization Trust, Series 2021-3, Class A,
(1-month USD-LIBOR + 0.85%) 3.109% 20554,5,6 		808 785
MRA Issuance Trust, Series 2020-10, Class A3,
(1-month USD-LIBOR + 1.30%) 2.362% 20224,5,6 		436 425
Capital Group Core Bond Fund — Page 67 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Mortgage-backed obligations (continued)
Collateralized mortgage-backed obligations (privately originated) (continued) 		  Principal amount
(000) 		Value
(000)
NewRez Warehouse Securitization Trust, Series 2021-1, Class A,
(1-month USD-LIBOR + 0.75%) 3.009% 20554,5,6 		USD5,557 $5,476
RMF Proprietary Issuance Trust, Series 2019-1, Class A, 2.75% 20634,5,6 221 216
Tricon Residential, Series 2021-SFR1, Class A, 1.943% 20384,5 1,173 1,079
      12,822
Commercial mortgage-backed securities 1.92%      
Bank Commercial Mortgage Trust, Series 2022-BNK40, Class A4, 3.507% 20645,6 255 246
BX Trust, Series 2021-SDMF, Class A, (1-month USD-LIBOR + 0.589%) 2.588% 20344,5,6 1,240 1,186
BX Trust, Series 2021-VOLT, Class A, (1-month USD-LIBOR + 0.70%) 2.699% 20364,5,6 693 668
BX Trust, Series 2021-ARIA, Class A, (1-month USD-LIBOR + 0.899%) 2.898% 20364,5,6 664 631
BX Trust, Series 2021-VOLT, Class B, (1-month USD-LIBOR + 0.95%) 2.949% 20364,5,6 509 482
BX Trust, Series 2021-SOAR, Class A, (1-month USD-LIBOR + 0.67%) 2.669% 20384,5,6 863 832
BX Trust, Series 2021-SOAR, Class B, (1-month USD-LIBOR + 0.87%) 2.869% 20384,5,6 325 311
BX Trust, Series 2021-SOAR, Class C, (1-month USD-LIBOR + 1.10%) 3.099% 20384,5,6 219 207
Extended Stay America Trust, Series 2021-ESH, Class A,
(1-month USD-LIBOR + 1.08%) 3.08% 20384,5,6 		260 255
Extended Stay America Trust, Series 2021-ESH, Class B,
(1-month USD-LIBOR + 1.38%) 3.38% 20384,5,6 		191 186
Hawaii Hotel Trust, Series 2019-MAUI, Class A, (1-month USD-LIBOR + 1.15%) 3.149% 20384,5,6 1,500 1,463
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2021-410T, Class A, 2.287% 20424,5 461 412
LUXE Commercial Mortgage Trust, Series 2021-TRIP, Class A,
(1-month USD-LIBOR + 1.05%) 3.049% 20384,5,6 		1,343 1,296
Manhattan West Mortgage Trust, Series 2020-1MW, Class A, 2.13% 20394,5 1,262 1,138
MHC Commercial Mortgage Trust, CMO, Series 2021-MHC, Class A,
(1-month USD-LIBOR + 0.801%) 2.80% 20264,5,6 		460 446
SREIT Trust, Series 2021-MFP, Class A,
(1-month USD-LIBOR + 0.731%) 2.73% 20384,5,6 		721 695
      10,454
Total mortgage-backed obligations     59,097
Asset-backed obligations 10.61%      
Aesop Funding, LLC, Series 2019-2A, Class A, 3.35% 20254,5 750 739
Aesop Funding, LLC, Series 2020-2, Class A, 2.02% 20274,5 539 501
Aesop Funding, LLC, Series 2020-2A, Class B, 2.96% 20274,5 138 129
Affirm Asset Securitization Trust, Series 2021-A, Class A, 0.88% 20254,5 462 457
Affirm Asset Securitization Trust, Series 2021-B, Class A, 1.03% 20264,5 1,136 1,077
Affirm Asset Securitization Trust, Series 2021-Z2, Class A, 1.17% 20264,5 436 424
Allegro CLO, Ltd., Series 2016-1A, Class AR2,
(3-month USD-LIBOR + 0.95%) 3.462% 20304,5,6 		684 674
Allegro CLO, Ltd., Series 2017-1A, Class AR,
(3-month USD-LIBOR + 0.95%) 3.69% 20304,5,6 		492 483
Ares CLO, Ltd., Series 2017-42A, Class AR,
(3-month USD-LIBOR + 0.92%) 3.679% 20284,5,6 		848 838
Ballyrock CLO, Ltd., Series 2019-2A, Class A1AR,
(3-month USD-LIBOR + 1.00%) 2.478% 20304,5,6 		1,095 1,080
Bankers Healthcare Group Securitization Trust, Series 2021-A, Class A, 1.42% 20334,5 81 77
Bankers Healthcare Group Securitization Trust, Series 2021-B, Class A, 0.90% 20344,5 155 147
CarMaxAuto Owner Trust, Series 2019-2, Class A3, 2.68% 20245 110 110
CarMaxAuto Owner Trust, Series 2019-2, Class A4, 2.77% 20245 805 802
CarMaxAuto Owner Trust, Series 2019-2, Class B, 3.01% 20245 775 770
CarMaxAuto Owner Trust, Series 2019-2, Class C, 3.16% 20255 1,150 1,142
Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 20374,5 578 520
Capital Group Core Bond Fund — Page 68 of 77
unaudited
Bonds, notes & other debt instruments (continued)
Asset-backed obligations (continued) 		  Principal amount
(000) 		Value
(000)
Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 20414,5 USD166 $149
Cent CLO, Ltd., Series 2014-21A, Class AR,
(3-month USD-LIBOR + 0.97%) 3.739% 20304,5,6 		1,557 1,539
CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 20604,5 1,003 923
CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 20604,5 162 143
CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 20614,5 452 406
CLI Funding VI, LLC, Series 2020-1A, Class A, 2.08% 20454,5 392 356
CLI Funding VIII, LLC, Series 2021-1A, Class A, 1.64% 20464,5 508 454
CPS Auto Receivables Trust, Series 2022-B, Class A, 2.88% 20264,5 610 603
Drive Auto Receivables Trust, Series 2020-1, Class C, 2.36% 20265 1,029 1,027
Dryden Senior Loan Fund, CLO, Series 2017-47A, Class A1R,
(3-month USD-LIBOR + 0.98%) 3.492% 20284,5,6 		1,601 1,578
EDvestinU Private Education Loan, LLC, Series 2021-A, Class A, 1.80% 20454,5 73 66
Enterprise Fleet Financing, LLC, Series 2022-1, Class A2, 3.03% 20284,5 1,201 1,183
Exeter Automobile Receivables Trust, Series 2021-4A, Class A3, 0.68% 20255 628 623
First Investors Auto Owner Trust, Series 2021-1A, Class A, 0.45% 20264,5 114 113
FirstKey Homes Trust, Series 2020-SFR2, Class A, 1.266% 20374,5 236 221
Ford Credit Auto Owner Trust, Series 2020-A, Class A3, 1.04% 20245 203 201
Ford Credit Auto Owner Trust, Series 2020-1, Class A, 2.04% 20314,5 582 560
Ford Credit Auto Owner Trust, Series 2021-1, Class A, 1.37% 20334,5 439 405
GCI Funding I, LLC, Series 2020-1, Class A, 2.82% 20454,5 151 142
GCI Funding I, LLC, Series 2021-1, Class A, 2.38% 20464,5 413 375
Global SC Finance V SRL, Series 2020-1A, Class A, 2.17% 20404,5 1,210 1,118
Global SC Finance VII SRL, Series 2020-2A, Class A, 2.26% 20404,5 801 739
Global SC Finance VII SRL, Series 2021-1A, Class A, 1.86% 20414,5 982 890
Hertz Vehicle Financing III, LLC, Series 2021-1A, Class A, 1.21% 20254,5 1,138 1,067
Hertz Vehicle Financing III, LLC, Series 2021-1A, Class B, 1.56% 20254,5 122 114
Hertz Vehicle Financing III, LLC, Series 2022-1A, Class A, 1.99% 20264,5 614 578
Hertz Vehicle Financing III, LLC, Series 2022-4A, Class A, 3.73% 20264,5 1,200 1,186
Hertz Vehicle Financing III, LLC, Series 2021-2A, Class A, 1.68% 20274,5 1,234 1,119
Hertz Vehicle Financing III, LLC, Series 2021-2A, Class B, 2.12% 20274,5 132 118
Hertz Vehicle Financing III, LLC, Series 2022-2A, Class A, 2.33% 20284,5 1,680 1,538
Hertz Vehicle Financing III, LLC, Series 2022-5A, Class A, 3.89% 20284,5 1,250 1,222
Honda Auto Receivables Owner Trust, Series 2019-2, Class A3, 2.52% 20235 87 87
Longfellow Place CLO, Ltd., Series 2013-1A, Class AR3,
(3-month USD-LIBOR + 1.00%) 3.512% 20294,5,6 		418 415
Madison Park Funding, Ltd., CLO, Series 2015-17A, Class AR2,
(3-month USD-LIBOR + 1.00%) 3.732% 20304,5,6 		1,665 1,641
Marathon CLO, Ltd., Series 2017-9A, Class A1AR,
(3-month USD-LIBOR + 1.15%) 3.662% 20294,5,6 		530 523
Mercury Financial Credit Card Master Trust, Series 2021-1A, Class A, 1.54% 20264,5 1,100 1,044
Mission Lane Credit Card Master Trust, Series 2021-A, Class A, 1.59% 20264,5 380 367
Navient Student Loan Trust, Series 2021-A, Class A, 0.84% 20694,5 127 117
Navient Student Loan Trust, Series 2021-C, Class A, 1.06% 20694,5 621 569
Navient Student Loan Trust, Series 2021-G, Class A, 1.58% 20704,5 1,405 1,255
Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 20464,5 1,145 1,036
Nelnet Student Loan Trust, Series 2021-C, Class AFX, 1.32% 20624,5 1,459 1,337
Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 20624,5 734 682
Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 20624,5 1,370 1,278
New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 20614,5 2,723 2,408
Newark BSL CLO 2, Ltd., Series 2017-1A, Class A1R,
(3-month USD-LIBOR + 0.97%) 3.753% 20304,5,6 		529 522
Nissan Auto Receivables Owner Trust, Series 2019-A, Class A-3, 2.90% 20235 18 18
Oportun Funding, LLC, Series 2021-B, Class A, 1.47% 20314,5 288 267
Capital Group Core Bond Fund — Page 69 of 77
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Bonds, notes & other debt instruments (continued)
Asset-backed obligations (continued) 		  Principal amount
(000) 		Value
(000)
Palmer Square Loan Funding, CLO, Series 2020-4, Class A1,
(3-month USD-LIBOR + 1.00%) 2.524% 20284,5,6 		USD308 $306
Palmer Square Loan Funding, CLO, Series 2021-4A, Class A1,
(3-month USD-LIBOR + 0.80%) 3.312% 20294,5,6 		1,306 1,284
Palmer Square Loan Funding, CLO, Series 2021-1, Class A1,
(3-month USD-LIBOR + 0.90%) 3.61% 20294,5,6 		152 151
Palmer Square Loan Funding, CLO, Series 2021-4A, Class A2,
(3-month USD-LIBOR + 1.40%) 3.912% 20294,5,6 		856 831
PG&E Wildfire Recovery Funding, LLC, Series 2022-A, Class A2, 4.263% 20365 100 99
Race Point CLO, Ltd., Series 2015-9A, Class A1A2,
(3-month USD-LIBOR + 0.94%) 3.452% 20304,5,6 		1,390 1,368
SMB Private Education Loan Trust, Series 2021-A, Class APT2, 1.07% 20534,5 204 184
SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 2.636% 20464,5 622 575
Sound Point CLO, Ltd., Series 2015-1RA, Class AR,
(3-month USD-LIBOR + 1.08%) 3.592% 20304,5,6 		895 885
Sprite, Ltd., Series 2021-1, Class A, 3.75% 20464,5 942 861
Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 20414,5 850 763
Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 20334,5 332 309
SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 20754,5 461 431
Textainer Marine Containers, Ltd., Series 2021-1A, Class A, 1.68% 20464,5 184 163
Textainer Marine Containers, Ltd., Series 2021-2A, Class A, 2.23% 20464,5 1,080 976
Toyota Auto Loan Extended Note Trust, Series 2019-1, Class A, 2.56% 20314,5 1,250 1,228
Toyota Auto Loan Extended Note Trust, Series 2020-1, Class A, 1.35% 20334,5 445 419
Toyota Auto Receivables Owner Trust, Series 2019-B, Class A3, 2.57% 20235 94 94
Triton Container Finance VIII, LLC, Series 2020-1, Class A, 2.11% 20454,5 1,081 976
Triton Container Finance VIII, LLC, Series 2021-1, Class A, 1.86% 20464,5 730 648
Westlake Automobile Receivables Trust, Series 2021-3A, Class A2, 0.57% 20244,5 1,066 1,054
      57,897
Bonds & notes of governments & government agencies outside the U.S. 4.20%      
Asian Development Bank 0.625% 2024 1,526 1,451
Canada 2.875% 2025 2,555 2,553
Canada 0.75% 2026 2,350 2,171
Denmark (Kingdom of) 0.125% 20224 660 656
Denmark (Kingdom of) 0.125% 2022 655 651
European Investment Bank 2.75% 2025 2,249 2,238
European Investment Bank 0.75% 2026 758 693
Inter-American Development Bank 0.50% 2024 500 474
Japan Bank for International Cooperation 2.875% 2025 792 786
KfW 0.375% 2025 1,010 937
Kommunalbanken 0.50% 20244 442 418
Kommunalbanken 0.375% 20254 2,000 1,847
Kommuninvest i Sverige Aktiebolag 0.25% 20234 905 880
Manitoba (Province of) 3.05% 2024 200 200
Ontario (Province of) 3.20% 2024 500 501
Ontario Teachers’ Finance Trust 0.875% 20264 902 821
Ontario Teachers’ Finance Trust 3.00% 20274 2,000 1,989
Quebec (Province of) 0.60% 2025 1,600 1,489
Saskatchewan (Province of) 3.25% 2027 754 762
Saudi Arabia (Kingdom of) 4.00% 20254 430 438
Saudi Arabia (Kingdom of) 4.50% 20304 445 472
United Mexican States 4.15% 2027 460 463
      22,890
Capital Group Core Bond Fund — Page 70 of 77
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Bonds, notes & other debt instruments (continued)
Federal agency bonds & notes 3.30% 		  Principal amount
(000) 		Value
(000)
Fannie Mae 2.375% 2023 USD2,442 $2,436
Fannie Mae 0.875% 2030 2,563 2,186
Federal Farm Credit Banks 1.75% 2025 1,333 1,295
Freddie Mac 0.25% 2023 3,439 3,352
Freddie Mac 0.375% 2025 9,449 8,747
      18,016
Municipals 0.77%
California 0.14% 		     
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, 2.532% 2028 830 764
Florida 0.47%      
Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 1.258% 2025 1,140 1,074
Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 1.705% 2027 805 740
Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 2.154% 2030 810 718
      2,532
New York 0.16%      
Dormitory Auth., Taxable State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-C, 1.748% 2028 965 877
Washington 0.00%      
Energy Northwest, Electric Rev. Bonds (Columbia Generating Station), Series 2015-B, 2.814% 2024 15 15
Total municipals     4,188
Total bonds, notes & other debt instruments (cost: $556,730,000)     537,667
Short-term securities 5.89%
Money market investments 5.89% 		  Shares  
Capital Group Central Cash Fund 1.71%8,9 321,354 32,123
Total short-term securities (cost: $32,130,000)     32,123
Total investment securities 104.44% (cost: $588,860,000)     569,790
Other assets less liabilities (4.44)%     (24,222)
Net assets 100.00%     $545,568
Futures contracts
Contracts Type Number of
contracts 		Expiration Notional
amount
(000) 		Value and
unrealized
(depreciation)
appreciation
at 7/31/2022
(000)
2 Year U.S. Treasury Note Futures Short 106 September 2022 USD(22,309) $(151)
5 Year U.S. Treasury Note Futures Long 575 September 2022 65,393 1,042
10 Year U.S. Treasury Note Futures Short 42 September 2022 (5,088) (48)
10 Year Ultra U.S. Treasury Note Futures Short 68 September 2022 (8,925) (470)
20 Year U.S. Treasury Bond Futures Short 4 September 2022 (576) (12)
30 Year Ultra U.S. Treasury Bond Futures Short 3 September 2022 (475) 2
          $363
Capital Group Core Bond Fund — Page 71 of 77
unaudited
Investments in affiliates9
  Value of
affiliate at
11/1/2021
(000) 		Additions
(000) 		Reductions
(000) 		Net
realized
loss
(000) 		Net
unrealized
depreciation
(000) 		Value of
affiliate at
7/31/2022
(000) 		Dividend
income
(000)
Short-term securities 5.89%
Money market investments 5.89%              
Capital Group Central Cash Fund 1.71%8 $63,951 $121,455 $153,270 $(9) $(4) $32,123 $140
1 All or a portion of this security was pledged as collateral. The total value of pledged collateral was $672,000, which represented .12% of the net assets of the fund.
2 Index-linked bond whose principal amount moves with a government price index.
3 Step bond; coupon rate may change at a later date.
4 Acquired in a transaction exempt from registration under Rule 144A 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 $109,513,000, which represented 20.07% of the net assets of the fund.
5 Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.
6 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.
7 Purchased on a TBA basis.
8 Rate represents the seven-day yield at 7/31/2022.
9 Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
Key to abbreviations
Assn. = Association
Auth. = Authority
CLO = Collateralized Loan Obligations
CMO = Collateralized Mortgage Obligations
DAC = Designated Activity Company
Fin. = Finance
LIBOR = London Interbank Offered Rate
Rev. = Revenue
SOFR = Secured Overnight Financing Rate
TBA = To be announced
USD = U.S. dollars
Capital Group Core Bond Fund — Page 72 of 77
unaudited
Valuation
Capital Research and Management Company ("CRMC"), the funds’ investment adviser, values each fund’s investments at fair value as defined by accounting principles generally accepted in the United State of America. The net asset value per share of each fund 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 funds’ investment adviser uses the following methods and inputs to establish the fair value of each 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 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 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 funds are 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
When the funds’ 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. Some securities may be valued based on their effective maturity or average life, which may be shorter than the stated maturity.
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 funds’ 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. The average month-end notional amount of futures contracts while held by Capital Group Core Municipal Fund, Capital Group Short-Term Municipal Fund, Capital Group California Core Municipal Fund, Capital Group California Short-Term Municipal Fund and Capital Group Core Bond Fund was $33,736,000, $5,213,000, $56,158,000, $8,636,000 and $141,694,000, respectively.
Private Client Services Funds — Page 73 of 77
unaudited
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the funds’ investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by authority of the funds’ 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 of the funds 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 funds’ board of trustees has delegated authority to the funds’ 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 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 funds’ board and audit committee also regularly review reports that describe fair value determinations and methods.
The funds’ 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 facilitated by the investment adviser’s global risk management group.
Classifications — The funds’ investment adviser classifies each 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 funds’ valuation levels as of July 31, 2022, are as follows (dollars in thousands):
Capital Group Core Municipal Fund
  Investment securities
  Level 1   Level 2   Level 3   Total
Assets:              
Bonds, notes & other debt instruments:              
Municipals $—   $485,699   $—   $485,699
Short-term securities —   69,806   —   69,806
Total $—   $555,505   $—   $555,505
    
  Other investments*
  Level 1   Level 2   Level 3   Total
Assets:              
Unrealized appreciation on futures contracts $876   $—   $—   $876
Liabilities:              
Unrealized depreciation on futures contracts (1,154)   —   —   (1,154)
Total $(278)   $—   $—   $(278)
Refer to the end of the tables for footnote.
Private Client Services Funds — Page 74 of 77
unaudited
Capital Group Short-Term Municipal Fund
  Investment securities
  Level 1   Level 2   Level 3   Total
Assets:              
Bonds, notes & other debt instruments:              
Municipals $—   $81,815   $—   $81,815
Short-term securities —   11,278   —   11,278
Total $—   $93,093   $—   $93,093
    
  Other investments*
  Level 1   Level 2   Level 3   Total
Assets:              
Unrealized appreciation on futures contracts $104   $—   $—   $104
Liabilities:              
Unrealized depreciation on futures contracts (91)   —   —   (91)
Total $13   $—   $—   $13
Capital Group California Core Municipal Fund
  Investment securities
  Level 1   Level 2   Level 3   Total
Assets:              
Bonds, notes & other debt instruments:              
Municipals $—   $519,517   $—   $519,517
Short-term securities —   70,380   —   70,380
Total $—   $589,897   $—   $589,897
    
  Other investments*
  Level 1   Level 2   Level 3   Total
Assets:              
Unrealized appreciation on futures contracts $978   $—   $—   $978
Liabilities:              
Unrealized depreciation on futures contracts (1,067)   —   —   (1,067)
Total $(89)   $—   $—   $(89)
Refer to the end of the tables for footnote.
Private Client Services Funds — Page 75 of 77
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Capital Group California Short-Term Municipal Fund
  Investment securities
  Level 1   Level 2   Level 3   Total
Assets:              
Bonds, notes & other debt instruments:              
Municipals $—   $103,234   $—   $103,234
Short-term securities —   17,787   —   17,787
Total $—   $121,021   $—   $121,021
    
  Other investments*
  Level 1   Level 2   Level 3   Total
Assets:              
Unrealized appreciation on futures contracts $112   $—   $—   $112
Liabilities:              
Unrealized depreciation on futures contracts (109)   —   —   (109)
Total $3   $—   $—   $3
Capital Group Core Bond Fund
  Investment securities
  Level 1   Level 2   Level 3   Total
Assets:              
Bonds, notes & other debt instruments:              
U.S. Treasury bonds & notes $—   $236,705   $—   $236,705
Corporate bonds, notes & loans —   138,874   —   138,874
Mortgage-backed obligations —   59,097   —   59,097
Asset-backed obligations —   57,897   —   57,897
Bonds & notes of governments & government agencies outside the U.S. —   22,890   —   22,890
Federal agency bonds & notes —   18,016   —   18,016
Municipals —   4,188   —   4,188
Short-term securities 32,123   —   —   32,123
Total $32,123   $537,667   $—   $569,790
    
  Other investments*
  Level 1   Level 2   Level 3   Total
Assets:              
Unrealized appreciation on futures contracts $1,044   $—   $—   $1,044
Liabilities:              
Unrealized depreciation on futures contracts (681)   —   —   (681)
Total $363   $—   $—   $363
* Futures contracts are not included in the fund’s investment portfolio.
Private Client Services Funds — Page 76 of 77
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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 the investment objectives, risks, charges and expenses of the Capital Private Client Services Funds. This and other important information is contained in the prospectus, which can be obtained from your investment counselor and should be read carefully before investing.
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.
American Funds Distributors, Inc., member FINRA.
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