American Funds Target Date Retirement Series®
American Funds 2070
Target Date Retirement Fund
Investment portfolio
July 31, 2026
unaudited
Fund investments
Growth funds 51%
Shares
Value
(000)
New Perspective Fund, Class R-6
1,101,584
$81,837
SMALLCAP World Fund, Inc., Class R-6
969,707
81,805
New World Fund, Inc., Class R-6
669,462
71,150
The Growth Fund of America, Class R-6
720,901
61,450
AMCAP Fund, Class R-6 (a)
1,231,545
56,984
The New Economy Fund, Class R-6 (a)
537,598
45,803
EUPAC Fund, Class R-6
260,360
16,426
American Funds U.S. Small and Mid Cap Equity Fund, Class R-6
328,967
4,079
 
419,534
Growth-and-income funds 39%
 
 
Fundamental Investors, Class R-6
723,008
73,884
Capital World Growth and Income Fund, Class R-6
862,992
69,859
Washington Mutual Investors Fund, Class R-6
965,309
65,670
The Investment Company of America, Class R-6
842,701
57,498
American Mutual Fund, Class R-6
758,048
49,159
 
316,070
Balanced funds 5%
 
 
American Balanced Fund, Class R-6
710,601
28,744
American Funds Global Balanced Fund, Class R-6
284,637
12,151
 
40,895
Fixed income funds 5%
 
 
U.S. Government Securities Fund, Class R-6
3,150,148
36,794
American Funds Emerging Markets Bond Fund, Class R-6
1,006,967
8,126
 
44,920
Total investment securities 100% (cost: $764,736,000)
821,419
Other assets less liabilities 0%
(148
)
Net assets 100%
$821,271
American Funds Target Date Retirement Series — Page 1 of 27
unaudited
Investments in affiliates (b)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth funds 51%
New Perspective Fund, Class R-6
$33,372
$47,705
$151
$(10
)
$921
$81,837
$512
$2,026
SMALLCAP World Fund, Inc., Class R-6
33,372
45,301
1,003
(47
)
4,182
81,805
390
1,492
New World Fund, Inc., Class R-6
26,697
40,254
806
(24
)
5,029
71,150
452
1,379
The Growth Fund of America, Class R-6
23,360
38,471
345
(13
)
(23
)
61,450
151
2,570
AMCAP Fund, Class R-6 (a)
23,360
36,336
477
(20
)
(2,215
)
56,984
—
4,869
The New Economy Fund, Class R-6 (a)
16,685
26,150
420
(16
)
3,404
45,803
—
1,782
EUPAC Fund, Class R-6
6,674
10,073
4
—
(c)
(317
)
16,426
235
1,383
American Funds U.S. Small and Mid Cap Equity Fund,
Class R-6
—
4,026
—
—
53
4,079
—
—
 
419,534
Growth-and-income funds 39%
Fundamental Investors, Class R-6
30,034
40,136
566
16
4,264
73,884
370
2,937
Capital World Growth and Income Fund, Class R-6
26,697
39,935
671
(4
)
3,902
69,859
670
2,551
Washington Mutual Investors Fund, Class R-6
26,697
38,283
449
(5
)
1,144
65,670
535
3,611
The Investment Company of America, Class R-6
23,360
32,588
232
(2
)
1,784
57,498
360
2,319
American Mutual Fund, Class R-6
16,685
30,668
468
(2
)
2,276
49,159
421
1,075
 
316,070
Balanced funds 5%
American Balanced Fund, Class R-6
20,021
22,952
15,340
478
633
28,744
491
1,237
American Funds Global Balanced Fund, Class R-6
6,672
8,125
2,958
(19
)
331
12,151
188
300
 
40,895
Fixed income funds 5%
U.S. Government Securities Fund, Class R-6
16,699
23,933
2,581
(40
)
(1,217
)
36,794
886
—
American Funds Emerging Markets Bond Fund,
Class R-6
3,338
4,863
29
(1
)
(45
)
8,126
241
—
 
44,920
Total 100%
$291
$24,106
$821,419
$5,902
$29,531
 
(a)
Non-income producing.
(b)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
(c)
Amount less than one thousand.
American Funds Target Date Retirement Series — Page 2 of 27
American Funds 2065
Target Date Retirement Fund®
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 51%
Shares
Value
(000)
New Perspective Fund, Class R-6
9,959,350
$739,880
SMALLCAP World Fund, Inc., Class R-6
8,687,004
732,836
New World Fund, Inc., Class R-6
5,950,772
632,448
The Growth Fund of America, Class R-6
6,507,131
554,668
AMCAP Fund, Class R-6 (a)
11,193,480
517,922
The New Economy Fund, Class R-6 (a)
4,768,599
406,285
EUPAC Fund, Class R-6
2,348,194
148,147
American Funds U.S. Small and Mid Cap Equity Fund, Class R-6
3,004,340
37,254
 
3,769,440
Growth-and-income funds 39%
 
 
Fundamental Investors, Class R-6
6,491,287
663,345
Capital World Growth and Income Fund, Class R-6
7,773,956
629,302
Washington Mutual Investors Fund, Class R-6
8,687,831
591,033
The Investment Company of America, Class R-6
7,571,100
516,576
American Mutual Fund, Class R-6
6,818,474
442,178
 
2,842,434
Balanced funds 5%
 
 
American Balanced Fund, Class R-6
6,391,990
258,556
American Funds Global Balanced Fund, Class R-6
2,594,886
110,776
 
369,332
Fixed income funds 5%
 
 
U.S. Government Securities Fund, Class R-6
28,195,816
329,327
American Funds Emerging Markets Bond Fund, Class R-6
9,179,323
74,077
 
403,404
Total investment securities 100% (cost: $6,143,884,000)
7,384,610
Other assets less liabilities 0%
(1,066
)
Net assets 100%
$7,383,544
American Funds Target Date Retirement Series — Page 3 of 27
unaudited
Investments in affiliates (b)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth funds 51%
New Perspective Fund, Class R-6
$585,146
$157,304
$1,545
$(93
)
$(932
)
$739,880
$7,873
$31,125
SMALLCAP World Fund, Inc., Class R-6
583,610
142,908
43,286
(27
)
49,631
732,836
5,919
22,658
New World Fund, Inc., Class R-6
471,010
116,731
6,852
(90
)
51,649
632,448
6,943
21,165
The Growth Fund of America, Class R-6
413,475
157,893
1,169
112
(15,643
)
554,668
2,323
39,554
AMCAP Fund, Class R-6 (a)
415,143
144,674
13,319
187
(28,763
)
517,922
—
54,142
The New Economy Fund, Class R-6 (a)
299,332
93,588
19,515
4,419
28,461
406,285
—
27,407
EUPAC Fund, Class R-6
117,417
37,023
1,305
(119
)
(4,869
)
148,147
3,596
16,746
American Funds U.S. Small and Mid Cap Equity Fund,
Class R-6
—
36,627
—
—
627
37,254
—
—
 
3,769,440
Growth-and-income funds 39%
Fundamental Investors, Class R-6
529,412
102,297
11,823
1,572
41,887
663,345
4,378
39,558
Capital World Growth and Income Fund, Class R-6
470,795
129,166
6,654
(143
)
36,138
629,302
8,062
39,385
Washington Mutual Investors Fund, Class R-6
470,016
148,215
36,667
(262
)
9,731
591,033
6,401
42,902
The Investment Company of America, Class R-6
412,342
105,998
10,377
(197
)
8,810
516,576
4,237
34,981
American Mutual Fund, Class R-6
293,486
150,416
22,581
341
20,516
442,178
5,025
16,650
 
2,842,434
Balanced funds 5%
American Balanced Fund, Class R-6
352,101
72,119
175,161
15,712
(6,215
)
258,556
6,640
19,234
American Funds Global Balanced Fund, Class R-6
117,487
25,287
34,818
1,137
1,683
110,776
2,263
4,573
 
369,332
Fixed income funds 5%
U.S. Government Securities Fund, Class R-6
294,596
105,074
57,231
(1,482
)
(11,630
)
329,327
10,432
—
American Funds Emerging Markets Bond Fund,
Class R-6
58,985
19,216
4,202
(42
)
120
74,077
2,454
—
 
403,404
Total 100%
$21,025
$181,201
$7,384,610
$76,546
$410,080
 
(a)
Non-income producing.
(b)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
American Funds Target Date Retirement Series — Page 4 of 27
American Funds 2060
Target Date Retirement Fund®
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 51%
Shares
Value
(000)
New Perspective Fund, Class R-6
26,702,053
$1,983,696
SMALLCAP World Fund, Inc., Class R-6
23,301,882
1,965,747
New World Fund, Inc., Class R-6
16,638,354
1,768,324
The Growth Fund of America, Class R-6
18,057,140
1,539,191
AMCAP Fund, Class R-6 (a)
31,058,357
1,437,070
The New Economy Fund, Class R-6 (a)
13,207,286
1,125,261
EUPAC Fund, Class R-6
6,600,240
416,409
American Funds Global Insight Fund, Class R-6
4,672,008
146,187
American Funds U.S. Small and Mid Cap Equity Fund, Class R-6
8,447,068
104,744
 
10,486,629
Growth-and-income funds 38%
 
 
Fundamental Investors, Class R-6
18,202,407
1,860,104
Capital World Growth and Income Fund, Class R-6
21,730,233
1,759,062
Washington Mutual Investors Fund, Class R-6
24,311,283
1,653,897
The Investment Company of America, Class R-6
20,159,996
1,375,517
American Mutual Fund, Class R-6
19,461,873
1,262,102
 
7,910,682
Balanced funds 5%
 
 
American Balanced Fund, Class R-6
17,884,904
723,444
American Funds Global Balanced Fund, Class R-6
8,652,062
369,357
 
1,092,801
Fixed income funds 6%
 
 
U.S. Government Securities Fund, Class R-6
79,011,497
922,854
American Funds Emerging Markets Bond Fund, Class R-6
25,746,756
207,776
 
1,130,630
Total investment securities 100% (cost: $16,075,321,000)
20,620,742
Other assets less liabilities 0%
(2,488
)
Net assets 100%
$20,618,254
American Funds Target Date Retirement Series — Page 5 of 27
unaudited
Investments in affiliates (b)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth funds 51%
New Perspective Fund, Class R-6
$1,805,875
$210,400
$22,435
$1,359
$(11,503
)
$1,983,696
$23,777
$93,999
SMALLCAP World Fund, Inc., Class R-6
1,793,281
229,214
196,398
(5,196
)
144,846
1,965,747
18,017
68,964
New World Fund, Inc., Class R-6
1,472,536
213,613
66,020
9,722
138,473
1,768,324
21,343
65,066
The Growth Fund of America, Class R-6
1,290,936
331,450
30,165
2,850
(55,880
)
1,539,191
7,151
121,747
AMCAP Fund, Class R-6 (a)
1,290,936
281,115
49,015
1,766
(87,732
)
1,437,070
—
157,903
The New Economy Fund, Class R-6 (a)
923,122
224,080
115,601
28,049
65,611
1,125,261
—
84,271
EUPAC Fund, Class R-6
371,402
70,735
9,770
(699
)
(15,259
)
416,409
11,151
50,247
American Funds Global Insight Fund, Class R-6
70,005
65,358
—
—
10,824
146,187
836
—
American Funds U.S. Small and Mid Cap Equity
Fund, Class R-6
—
102,872
—
—
1,872
104,744
—
—
 
10,486,629
Growth-and-income funds 38%
Fundamental Investors, Class R-6
1,661,230
176,844
103,052
13,958
111,124
1,860,104
12,933
119,083
Capital World Growth and Income Fund, Class R-6
1,477,377
257,340
76,597
6,256
94,686
1,759,062
23,860
121,693
Washington Mutual Investors Fund, Class R-6
1,460,564
288,712
120,830
1,590
23,861
1,653,897
18,958
126,974
The Investment Company of America, Class R-6
1,257,626
186,224
85,459
4,593
12,533
1,375,517
12,061
104,248
American Mutual Fund, Class R-6
941,671
334,707
72,705
1,183
57,246
1,262,102
15,346
53,500
 
7,910,682
Balanced funds 5%
American Balanced Fund, Class R-6
1,098,402
110,955
511,602
60,388
(34,699
)
723,444
20,103
59,411
American Funds Global Balanced Fund, Class R-6
367,991
36,770
44,343
1,362
7,577
369,357
7,034
14,117
 
1,092,801
Fixed income funds 6%
U.S. Government Securities Fund, Class R-6
925,110
216,646
181,407
(1,604
)
(35,891
)
922,854
30,658
—
American Funds Emerging Markets Bond Fund,
Class R-6
182,608
36,369
11,817
(38
)
654
207,776
6,936
—
 
1,130,630
Total 100%
$125,539
$428,343
$20,620,742
$230,164
$1,241,223
 
(a)
Non-income producing.
(b)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
American Funds Target Date Retirement Series — Page 6 of 27
American Funds 2055
Target Date Retirement Fund®
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 50%
Shares
Value
(000)
New Perspective Fund, Class R-6
37,751,691
$2,804,573
SMALLCAP World Fund, Inc., Class R-6
31,635,685
2,668,786
New World Fund, Inc., Class R-6
23,085,457
2,453,522
The Growth Fund of America, Class R-6
27,382,866
2,334,116
AMCAP Fund, Class R-6 (a)
47,071,934
2,178,018
The New Economy Fund, Class R-6 (a)
18,719,111
1,594,868
American Funds Global Insight Fund, Class R-6
23,773,809
743,883
EUPAC Fund, Class R-6
10,012,230
631,672
American Funds U.S. Small and Mid Cap Equity Fund, Class R-6
12,813,092
158,882
 
15,568,320
Growth-and-income funds 37%
 
 
Fundamental Investors, Class R-6
26,514,868
2,709,554
Capital World Growth and Income Fund, Class R-6
31,579,201
2,556,336
Washington Mutual Investors Fund, Class R-6
36,841,187
2,506,306
American Mutual Fund, Class R-6
31,849,083
2,065,413
The Investment Company of America, Class R-6
25,963,425
1,771,485
 
11,609,094
Equity-income funds 1%
 
 
The Income Fund of America, Class R-6
8,027,658
224,453
Capital Income Builder, Class R-6
2,674,270
224,452
 
448,905
Balanced funds 6%
 
 
American Balanced Fund, Class R-6
31,734,913
1,283,677
American Funds Global Balanced Fund, Class R-6
14,917,131
636,813
 
1,920,490
Fixed income funds 6%
 
 
U.S. Government Securities Fund, Class R-6
120,433,326
1,406,661
American Funds Emerging Markets Bond Fund, Class R-6
39,098,728
315,527
 
1,722,188
Total investment securities 100% (cost: $23,487,553,000)
31,268,997
Other assets less liabilities 0%
(3,816
)
Net assets 100%
$31,265,181
American Funds Target Date Retirement Series — Page 7 of 27
unaudited
Investments in affiliates (b)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth funds 50%
New Perspective Fund, Class R-6
$2,602,968
$264,207
$46,069
$3,578
$(20,111
)
$2,804,573
$34,040
$134,571
SMALLCAP World Fund, Inc., Class R-6
2,530,630
263,694
317,778
(12,934
)
205,174
2,668,786
25,167
96,334
New World Fund, Inc., Class R-6
2,195,771
185,142
138,077
25,798
184,888
2,453,522
31,626
96,416
The Growth Fund of America, Class R-6
2,026,344
466,449
73,222
7,716
(93,171
)
2,334,116
11,149
189,798
AMCAP Fund, Class R-6 (a)
2,026,344
379,908
94,979
3,007
(136,262
)
2,178,018
—
243,506
The New Economy Fund, Class R-6 (a)
1,392,058
266,247
195,729
50,390
81,902
1,594,868
—
125,994
American Funds Global Insight Fund, Class R-6
610,532
81,055
18,348
4,197
66,447
743,883
7,436
—
EUPAC Fund, Class R-6
584,264
101,879
29,275
(1,175
)
(24,021
)
631,672
17,543
77,742
American Funds U.S. Small and Mid Cap Equity
Fund, Class R-6
—
155,982
—
—
2,900
158,882
—
—
 
15,568,320
Growth-and-income funds 37%
Fundamental Investors, Class R-6
2,560,480
223,919
259,584
35,904
148,835
2,709,554
19,372
180,400
Capital World Growth and Income Fund, Class R-6
2,272,180
298,299
161,051
19,228
127,680
2,556,336
35,765
185,799
Washington Mutual Investors Fund, Class R-6
2,273,423
407,010
212,401
3,450
34,824
2,506,306
29,167
195,043
American Mutual Fund, Class R-6
1,747,003
389,066
166,964
7,652
88,656
2,065,413
27,208
98,588
The Investment Company of America, Class R-6
1,697,451
201,315
146,223
14,203
4,739
1,771,485
15,853
139,106
 
11,609,094
Equity-income funds 1%
The Income Fund of America, Class R-6
108,009
121,966
11,213
(327
)
6,018
224,453
4,470
6,462
Capital Income Builder, Class R-6
108,512
115,735
11,361
(93
)
11,659
224,452
3,675
5,080
 
448,905
Balanced funds 6%
American Balanced Fund, Class R-6
1,787,858
156,907
704,341
81,740
(38,487
)
1,283,677
32,758
95,871
American Funds Global Balanced Fund, Class R-6
580,381
77,910
36,755
638
14,639
636,813
11,274
21,976
 
1,920,490
Fixed income funds 6%
U.S. Government Securities Fund, Class R-6
1,438,959
287,548
262,676
(7,262
)
(49,908
)
1,406,661
47,081
—
American Funds Emerging Markets Bond Fund,
Class R-6
288,000
48,632
22,117
(79
)
1,091
315,527
10,595
—
 
1,722,188
Total 100%
$235,631
$617,492
$31,268,997
$364,179
$1,892,686
 
(a)
Non-income producing.
(b)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
American Funds Target Date Retirement Series — Page 8 of 27
American Funds 2050
Target Date Retirement Fund®
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 47%
Shares
Value
(000)
New Perspective Fund, Class R-6
47,145,815
$3,502,463
SMALLCAP World Fund, Inc., Class R-6
37,843,364
3,192,466
The Growth Fund of America, Class R-6
36,969,185
3,151,253
AMCAP Fund, Class R-6 (a)
63,561,742
2,941,002
New World Fund, Inc., Class R-6
26,033,572
2,766,848
The New Economy Fund, Class R-6 (a)
22,113,844
1,884,099
American Funds Global Insight Fund, Class R-6
45,942,877
1,437,553
EUPAC Fund, Class R-6
13,573,146
856,330
American Funds U.S. Small and Mid Cap Equity Fund, Class R-6
17,370,707
215,397
 
19,947,411
Growth-and-income funds 35%
 
 
Fundamental Investors, Class R-6
33,261,833
3,399,027
Washington Mutual Investors Fund, Class R-6
47,782,995
3,250,677
Capital World Growth and Income Fund, Class R-6
39,423,561
3,191,337
American Mutual Fund, Class R-6
45,877,730
2,975,171
The Investment Company of America, Class R-6
29,006,439
1,979,109
 
14,795,321
Equity-income funds 5%
 
 
The Income Fund of America, Class R-6
41,661,635
1,164,859
Capital Income Builder, Class R-6
12,111,399
1,016,510
 
2,181,369
Balanced funds 7%
 
 
American Balanced Fund, Class R-6
55,924,798
2,262,158
American Funds Global Balanced Fund, Class R-6
20,223,427
863,338
 
3,125,496
Fixed income funds 6%
 
 
U.S. Government Securities Fund, Class R-6
163,331,079
1,907,707
American Funds Emerging Markets Bond Fund, Class R-6
53,071,599
428,288
 
2,335,995
Total investment securities 100% (cost: $31,122,586,000)
42,385,592
Other assets less liabilities 0%
(5,341
)
Net assets 100%
$42,380,251
American Funds Target Date Retirement Series — Page 9 of 27
unaudited
Investments in affiliates (b)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth funds 47%
New Perspective Fund, Class R-6
$3,438,566
$297,769
$208,412
$21,754
$(47,214
)
$3,502,463
$44,936
$177,646
SMALLCAP World Fund, Inc., Class R-6
3,091,876
256,401
386,664
(5,187
)
236,040
3,192,466
30,711
117,556
The Growth Fund of America, Class R-6
2,801,254
597,689
127,267
13,442
(133,865
)
3,151,253
15,366
261,587
AMCAP Fund, Class R-6 (a)
2,801,254
487,169
164,629
6,950
(189,742
)
2,941,002
—
332,234
New World Fund, Inc., Class R-6
2,401,539
288,866
155,763
26,525
205,681
2,766,848
34,460
105,056
The New Economy Fund, Class R-6 (a)
1,606,295
339,324
216,258
56,167
98,571
1,884,099
—
144,780
American Funds Global Insight Fund, Class R-6
1,242,687
91,922
35,813
8,273
130,484
1,437,553
14,930
—
EUPAC Fund, Class R-6
809,655
133,497
51,338
(813
)
(34,671
)
856,330
24,233
106,642
American Funds U.S. Small and Mid Cap Equity
Fund, Class R-6
—
211,459
—
—
3,938
215,397
—
—
 
19,947,411
Growth-and-income funds 35%
Fundamental Investors, Class R-6
3,212,142
273,607
318,807
52,518
179,567
3,399,027
24,229
225,349
Washington Mutual Investors Fund, Class R-6
3,088,170
400,836
286,960
12,841
35,790
3,250,677
38,734
258,583
Capital World Growth and Income Fund, Class R-6
2,813,674
406,710
210,536
23,449
158,040
3,191,337
44,310
229,409
American Mutual Fund, Class R-6
2,755,460
360,288
276,628
14,621
121,430
2,975,171
41,456
155,105
The Investment Company of America, Class R-6
1,928,035
215,208
184,356
19,803
419
1,979,109
17,905
158,008
 
14,795,321
Equity-income funds 5%
The Income Fund of America, Class R-6
936,207
307,420
108,197
287
29,142
1,164,859
32,628
54,601
Capital Income Builder, Class R-6
860,376
191,914
95,126
2,677
56,669
1,016,510
23,509
39,145
 
2,181,369
Balanced funds 7%
American Balanced Fund, Class R-6
2,871,867
237,577
921,807
103,333
(28,812
)
2,262,158
53,098
153,496
American Funds Global Balanced Fund, Class R-6
797,939
92,676
47,878
717
19,884
863,338
15,467
30,357
 
3,125,496
Fixed income funds 6%
U.S. Government Securities Fund, Class R-6
1,980,758
332,338
327,641
(19,997
)
(57,751
)
1,907,707
64,387
—
American Funds Emerging Markets Bond Fund,
Class R-6
394,230
59,395
26,816
(151
)
1,630
428,288
14,458
—
 
2,335,995
Total 100%
$337,209
$785,230
$42,385,592
$534,817
$2,549,554
 
(a)
Non-income producing.
(b)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
American Funds Target Date Retirement Series — Page 10 of 27
American Funds 2045
Target Date Retirement Fund®
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 43%
Shares
Value
(000)
The Growth Fund of America, Class R-6
39,796,189
$3,392,227
New Perspective Fund, Class R-6
44,239,157
3,286,527
AMCAP Fund, Class R-6 (a)
71,024,212
3,286,290
SMALLCAP World Fund, Inc., Class R-6
36,536,956
3,082,258
New World Fund, Inc., Class R-6
24,608,064
2,615,345
The New Economy Fund, Class R-6 (a)
23,046,515
1,963,563
American Funds Global Insight Fund, Class R-6
60,970,426
1,907,765
EUPAC Fund, Class R-6
9,799,722
618,264
American Funds U.S. Small and Mid Cap Equity Fund, Class R-6
9,086,093
112,668
 
20,264,907
Growth-and-income funds 33%
 
 
Fundamental Investors, Class R-6
35,393,989
3,616,912
Capital World Growth and Income Fund, Class R-6
42,466,354
3,437,651
American Mutual Fund, Class R-6
51,045,215
3,310,282
Washington Mutual Investors Fund, Class R-6
46,232,161
3,145,174
The Investment Company of America, Class R-6
27,774,714
1,895,069
International Growth and Income Fund, Class R-6
6,778,731
338,326
 
15,743,414
Equity-income funds 7%
 
 
The Income Fund of America, Class R-6
68,358,362
1,911,300
Capital Income Builder, Class R-6
17,151,936
1,439,562
 
3,350,862
Balanced funds 9%
 
 
American Balanced Fund, Class R-6
81,984,127
3,316,258
American Funds Global Balanced Fund, Class R-6
22,478,775
959,619
 
4,275,877
Fixed income funds 8%
 
 
U.S. Government Securities Fund, Class R-6
192,460,226
2,247,935
American Funds Emerging Markets Bond Fund, Class R-6
52,431,687
423,124
Capital World Bond Fund, Class R-6
21,002,656
332,262
American Funds Multi-Sector Income Fund, Class R-6
36,004,876
331,605
The Bond Fund of America, Class R-6
10,267,933
113,666
American Funds Inflation Linked Bond Fund, Class R-6
9,547,723
90,130
 
3,538,722
Total investment securities 100% (cost: $34,675,497,000)
47,173,782
Other assets less liabilities 0%
(6,278
)
Net assets 100%
$47,167,504
American Funds Target Date Retirement Series — Page 11 of 27
unaudited
Investments in affiliates (b)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth funds 43%
The Growth Fund of America, Class R-6
$3,093,623
$594,037
$161,027
$15,317
$(149,723
)
$3,392,227
$16,942
$288,430
New Perspective Fund, Class R-6
3,093,623
269,161
57,255
7,504
(26,506
)
3,286,527
40,335
159,457
AMCAP Fund, Class R-6 (a)
3,093,623
563,626
168,040
6,648
(209,567
)
3,286,290
—
369,540
SMALLCAP World Fund, Inc., Class R-6
2,962,793
233,677
339,538
8,435
216,891
3,082,258
29,535
113,053
New World Fund, Inc., Class R-6
2,472,565
153,363
241,271
47,055
183,633
2,615,345
35,449
108,070
The New Economy Fund, Class R-6 (a)
1,775,648
288,539
264,821
68,659
95,538
1,963,563
—
160,164
American Funds Global Insight Fund, Class R-6
1,769,982
27,714
78,752
16,960
171,861
1,907,765
20,788
—
EUPAC Fund, Class R-6
718,789
111,970
180,718
14,392
(46,169
)
618,264
21,387
89,435
American Funds U.S. Small and Mid Cap Equity
Fund, Class R-6
—
110,603
—
—
2,065
112,668
—
—
 
20,264,907
Growth-and-income funds 33%
Fundamental Investors, Class R-6
3,498,029
270,192
398,207
62,460
184,438
3,616,912
26,057
244,135
Capital World Growth and Income Fund, Class R-6
3,136,997
354,730
250,413
31,527
164,810
3,437,651
48,771
256,030
American Mutual Fund, Class R-6
3,007,469
394,130
243,615
14,435
137,863
3,310,282
45,860
169,552
Washington Mutual Investors Fund, Class R-6
2,999,657
310,894
213,574
14,546
33,651
3,145,174
37,488
250,926
The Investment Company of America, Class R-6
1,793,197
167,045
84,814
8,100
11,541
1,895,069
16,727
148,058
International Growth and Income Fund, Class R-6
71,894
249,393
6,480
1,203
22,316
338,326
3,172
3,936
 
15,743,414
Equity-income funds 7%
The Income Fund of America, Class R-6
1,731,948
317,369
187,217
2,053
47,147
1,911,300
58,365
99,893
Capital Income Builder, Class R-6
1,302,890
176,233
125,803
7,473
78,769
1,439,562
34,855
58,922
 
3,350,862
Balanced funds 9%
American Balanced Fund, Class R-6
3,522,486
283,975
596,386
54,975
51,208
3,316,258
66,973
188,282
American Funds Global Balanced Fund, Class R-6
879,280
103,070
45,975
1,014
22,230
959,619
17,139
33,535
 
4,275,877
Fixed income funds 8%
U.S. Government Securities Fund, Class R-6
2,184,138
373,653
220,614
(30,935
)
(58,307
)
2,247,935
72,927
—
American Funds Emerging Markets Bond Fund,
Class R-6
430,524
73,276
83,114
2,503
(65
)
423,124
13,146
—
Capital World Bond Fund, Class R-6
130,607
218,445
8,248
(143
)
(8,399
)
332,262
5,914
—
American Funds Multi-Sector Income Fund,
Class R-6
131,499
217,623
8,894
(188
)
(8,435
)
331,605
10,863
—
The Bond Fund of America, Class R-6
—
116,388
224
(7
)
(2,491
)
113,666
1,404
—
American Funds Inflation Linked Bond Fund,
Class R-6
131,241
50,459
86,114
(1,645
)
(3,811
)
90,130
5,522
—
 
3,538,722
Total 100%
$352,341
$910,488
$47,173,782
$629,619
$2,741,418
 
(a)
Non-income producing.
(b)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
American Funds Target Date Retirement Series — Page 12 of 27
American Funds 2040
Target Date Retirement Fund®
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 33%
Shares
Value
(000)
AMCAP Fund, Class R-6 (a)
76,225,204
$3,526,940
The Growth Fund of America, Class R-6
41,097,924
3,503,187
New Perspective Fund, Class R-6
39,891,523
2,963,541
SMALLCAP World Fund, Inc., Class R-6
32,859,536
2,772,030
American Funds Global Insight Fund, Class R-6
68,812,069
2,153,130
New World Fund, Inc., Class R-6
13,020,017
1,383,767
The New Economy Fund, Class R-6 (a)
15,802,189
1,346,347
 
17,648,942
Growth-and-income funds 32%
 
 
American Mutual Fund, Class R-6
57,716,205
3,742,896
Capital World Growth and Income Fund, Class R-6
46,237,132
3,742,896
Fundamental Investors, Class R-6
34,780,499
3,554,219
Washington Mutual Investors Fund, Class R-6
44,439,942
3,023,249
The Investment Company of America, Class R-6
31,377,713
2,140,902
International Growth and Income Fund, Class R-6
21,589,623
1,077,538
 
17,281,700
Equity-income funds 8%
 
 
The Income Fund of America, Class R-6
77,333,298
2,162,239
Capital Income Builder, Class R-6
21,676,698
1,819,325
 
3,981,564
Balanced funds 11%
 
 
American Balanced Fund, Class R-6
105,627,898
4,272,648
American Funds Global Balanced Fund, Class R-6
38,696,240
1,651,943
 
5,924,591
Fixed income funds 16%
 
 
U.S. Government Securities Fund, Class R-6
226,479,253
2,645,278
American Funds Multi-Sector Income Fund, Class R-6
122,485,435
1,128,091
Capital World Bond Fund, Class R-6
67,721,461
1,071,354
American Funds Inflation Linked Bond Fund, Class R-6
101,190,519
955,238
American Funds Mortgage Fund, Class R-6
108,025,809
932,263
Intermediate Bond Fund of America, Class R-6
45,339,440
563,116
The Bond Fund of America, Class R-6
47,750,442
528,597
American Funds Strategic Bond Fund, Class R-6
41,627,461
372,566
American Funds Emerging Markets Bond Fund, Class R-6
33,935,099
273,856
 
8,470,359
Total investment securities 100% (cost: $39,693,778,000)
53,307,156
Other assets less liabilities 0%
(7,267
)
Net assets 100%
$53,299,889
American Funds Target Date Retirement Series — Page 13 of 27
unaudited
Investments in affiliates (b)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth funds 33%
AMCAP Fund, Class R-6 (a)
$3,527,016
$572,548
$348,148
$18,649
$(243,125
)
$3,526,940
$—
$406,609
The Growth Fund of America, Class R-6
3,527,016
511,923
375,233
43,383
(203,902
)
3,503,187
19,143
325,894
New Perspective Fund, Class R-6
3,224,890
265,979
498,212
84,715
(113,831
)
2,963,541
41,844
165,423
SMALLCAP World Fund, Inc., Class R-6
2,877,624
163,894
479,710
23,129
187,093
2,772,030
28,474
108,991
American Funds Global Insight Fund, Class R-6
2,068,819
24,520
155,939
32,272
183,458
2,153,130
24,520
—
New World Fund, Inc., Class R-6
1,714,261
97,611
562,980
115,566
19,309
1,383,767
24,110
73,501
The New Economy Fund, Class R-6 (a)
1,714,261
169,474
660,654
242,936
(119,670
)
1,346,347
—
151,438
 
17,648,942
Growth-and-income funds 32%
American Mutual Fund, Class R-6
3,472,592
342,282
243,438
19,168
152,292
3,742,896
52,476
195,775
Capital World Growth and Income Fund, Class R-6
3,649,008
352,977
474,355
65,240
150,026
3,742,896
55,212
296,732
Fundamental Investors, Class R-6
3,578,200
272,521
538,847
89,189
153,156
3,554,219
25,997
246,525
Washington Mutual Investors Fund, Class R-6
2,995,939
282,496
300,549
23,638
21,725
3,023,249
36,566
245,317
The Investment Company of America, Class R-6
2,105,535
195,334
178,101
15,320
2,814
2,140,902
19,199
173,294
International Growth and Income Fund, Class R-6
1,081,652
94,125
201,737
31,574
71,924
1,077,538
19,082
58,161
 
17,281,700
Equity-income funds 8%
The Income Fund of America, Class R-6
1,937,457
320,009
151,961
6,041
50,693
2,162,239
65,949
112,428
Capital Income Builder, Class R-6
1,535,919
294,237
119,460
7,409
101,220
1,819,325
42,400
70,065
 
3,981,564
Balanced funds 11%
American Balanced Fund, Class R-6
4,104,814
301,718
267,138
18,065
115,189
4,272,648
79,766
221,952
American Funds Global Balanced Fund, Class R-6
1,084,058
578,780
55,032
1,235
42,902
1,651,943
25,013
41,345
 
5,924,591
Fixed income funds 16%
U.S. Government Securities Fund, Class R-6
2,440,425
515,534
206,469
(18,247
)
(85,965
)
2,645,278
84,075
—
American Funds Multi-Sector Income Fund,
Class R-6
1,004,797
224,617
65,828
(1,232
)
(34,263
)
1,128,091
52,037
—
Capital World Bond Fund, Class R-6
963,579
190,280
52,891
(482
)
(29,132
)
1,071,354
20,876
—
American Funds Inflation Linked Bond Fund,
Class R-6
1,156,800
196,791
352,361
(23,519
)
(22,473
)
955,238
43,005
—
American Funds Mortgage Fund, Class R-6
356,187
641,351
36,743
(574
)
(27,958
)
932,263
20,785
—
Intermediate Bond Fund of America, Class R-6
156,962
438,163
20,280
(238
)
(11,491
)
563,116
11,634
—
The Bond Fund of America, Class R-6
—
547,392
7,118
(91
)
(11,586
)
528,597
6,560
—
American Funds Strategic Bond Fund, Class R-6
76,469
320,725
10,268
(174
)
(14,186
)
372,566
7,392
—
American Funds Emerging Markets Bond Fund,
Class R-6
—
277,087
653
(17
)
(2,561
)
273,856
4,862
—
 
8,470,359
Total 100%
$792,955
$331,658
$53,307,156
$810,977
$2,893,450
 
(a)
Non-income producing.
(b)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
American Funds Target Date Retirement Series — Page 14 of 27
American Funds 2035
Target Date Retirement Fund®
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 21%
Shares
Value
(000)
AMCAP Fund, Class R-6 (a)
69,181,017
$3,201,006
The Growth Fund of America, Class R-6
34,252,372
2,919,672
American Funds Global Insight Fund, Class R-6
65,842,747
2,060,220
SMALLCAP World Fund, Inc., Class R-6
21,454,457
1,809,898
New Perspective Fund, Class R-6
19,818,158
1,472,291
 
11,463,087
Growth-and-income funds 30%
 
 
American Mutual Fund, Class R-6
60,964,461
3,953,545
Capital World Growth and Income Fund, Class R-6
48,629,641
3,936,569
Washington Mutual Investors Fund, Class R-6
41,399,183
2,816,387
Fundamental Investors, Class R-6
27,145,649
2,774,014
The Investment Company of America, Class R-6
30,040,524
2,049,665
International Growth and Income Fund, Class R-6
22,758,086
1,135,856
 
16,666,036
Equity-income funds 8%
 
 
The Income Fund of America, Class R-6
85,462,515
2,389,532
Capital Income Builder, Class R-6
27,004,730
2,266,507
 
4,656,039
Balanced funds 13%
 
 
American Balanced Fund, Class R-6
110,773,936
4,480,805
American Funds Global Balanced Fund, Class R-6
66,510,651
2,839,339
 
7,320,144
Fixed income funds 28%
 
 
U.S. Government Securities Fund, Class R-6
238,621,235
2,787,096
American Funds Mortgage Fund, Class R-6
322,470,443
2,782,920
American Funds Inflation Linked Bond Fund, Class R-6
241,429,082
2,279,091
Intermediate Bond Fund of America, Class R-6
167,061,582
2,074,905
The Bond Fund of America, Class R-6
173,819,669
1,924,184
American Funds Multi-Sector Income Fund, Class R-6
151,935,771
1,399,328
American Funds Strategic Bond Fund, Class R-6
139,845,013
1,251,613
Capital World Bond Fund, Class R-6
71,168,095
1,125,879
American Funds Emerging Markets Bond Fund, Class R-6
35,607,942
287,356
 
15,912,372
Total investment securities 100% (cost: $44,232,283,000)
56,017,678
Other assets less liabilities 0%
(7,984
)
Net assets 100%
$56,009,694
American Funds Target Date Retirement Series — Page 15 of 27
unaudited
Investments in affiliates (b)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth funds 21%
AMCAP Fund, Class R-6 (a)
$3,292,534
$540,712
$426,662
$31,053
$(236,631
)
$3,201,006
$—
$375,780
The Growth Fund of America, Class R-6
3,077,663
457,254
474,139
74,684
(215,790
)
2,919,672
16,690
284,139
American Funds Global Insight Fund,
Class R-6
2,110,739
39,611
303,473
78,632
134,711
2,060,220
24,705
—
SMALLCAP World Fund, Inc., Class R-6
1,990,291
105,831
430,217
31,506
112,487
1,809,898
19,604
75,040
New Perspective Fund, Class R-6
1,573,559
121,365
207,697
76,797
(91,733
)
1,472,291
20,438
80,798
New World Fund, Inc., Class R-6 (c)
18,958
1,101
19,984
9,976
(10,051
)
—
272
829
The New Economy Fund, Class R-6 (a)(c)
20,885
1,897
21,941
14,121
(14,962
)
—
—
1,897
 
11,463,087
Growth-and-income funds 30%
American Mutual Fund, Class R-6
3,769,650
277,189
273,791
28,248
152,249
3,953,545
56,008
211,274
Capital World Growth and Income Fund,
Class R-6
3,853,418
379,611
525,771
76,573
152,738
3,936,569
58,289
312,949
Washington Mutual Investors Fund, Class R-6
2,718,749
267,785
213,784
18,284
25,353
2,816,387
33,569
224,969
Fundamental Investors, Class R-6
2,993,859
225,834
644,062
139,128
59,255
2,774,014
21,378
204,456
The Investment Company of America,
Class R-6
2,131,505
194,466
292,603
50,891
(34,594
)
2,049,665
18,967
172,419
International Growth and Income Fund,
Class R-6
1,123,605
89,555
186,419
32,160
76,955
1,135,856
19,904
59,563
 
16,666,036
Equity-income funds 8%
The Income Fund of America, Class R-6
2,146,751
310,111
130,021
7,428
55,263
2,389,532
72,599
124,573
Capital Income Builder, Class R-6
2,143,172
154,955
170,889
18,750
120,519
2,266,507
56,792
97,767
 
4,656,039
Balanced funds 13%
American Balanced Fund, Class R-6
4,485,295
325,667
472,280
43,962
98,161
4,480,805
85,121
237,755
American Funds Global Balanced Fund,
Class R-6
2,708,866
155,397
96,548
2,847
68,777
2,839,339
52,085
103,312
 
7,320,144
Fixed income funds 28%
U.S. Government Securities Fund, Class R-6
2,578,031
468,319
149,358
(13,667
)
(96,229
)
2,787,096
88,839
—
American Funds Mortgage Fund, Class R-6
2,579,585
453,840
151,739
(16,019
)
(82,747
)
2,782,920
89,402
—
American Funds Inflation Linked Bond Fund,
Class R-6
2,643,811
275,643
537,091
(58,472
)
(44,800
)
2,279,091
95,195
—
Intermediate Bond Fund of America, Class R-6
1,660,602
562,282
98,312
(7,529
)
(42,138
)
2,074,905
59,430
—
The Bond Fund of America, Class R-6
499,245
1,526,453
48,292
(726
)
(52,496
)
1,924,184
38,363
—
American Funds Multi-Sector Income Fund,
Class R-6
1,558,696
73,609
186,322
(2,736
)
(43,919
)
1,399,328
72,507
—
American Funds Strategic Bond Fund,
Class R-6
1,021,106
324,818
37,712
(1,694
)
(54,905
)
1,251,613
35,858
—
Capital World Bond Fund, Class R-6
1,017,413
176,953
37,514
(1,559
)
(29,414
)
1,125,879
22,025
—
American Funds Emerging Markets Bond
Fund, Class R-6
—
290,060
—
—
(2,704
)
287,356
5,142
—
 
15,912,372
Total 100%
$632,638
$3,355
$56,017,678
$1,063,182
$2,567,520
 
(a)
Non-income producing.
(b)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
(c)
Affiliated issuer during the reporting period but no longer held at 7/31/2026.
American Funds Target Date Retirement Series — Page 16 of 27
American Funds 2030
Target Date Retirement Fund®
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 13%
Shares
Value
(000)
AMCAP Fund, Class R-6 (a)
48,634,529
$2,250,320
American Funds Global Insight Fund, Class R-6
49,837,359
1,559,411
The Growth Fund of America, Class R-6
15,388,349
1,311,703
New Perspective Fund, Class R-6
8,947,884
664,738
SMALLCAP World Fund, Inc., Class R-6
7,778,615
656,204
 
6,442,376
Growth-and-income funds 26%
 
 
American Mutual Fund, Class R-6
53,057,810
3,440,799
Capital World Growth and Income Fund, Class R-6
42,505,237
3,440,799
Washington Mutual Investors Fund, Class R-6
38,075,518
2,590,278
The Investment Company of America, Class R-6
22,725,538
1,550,563
Fundamental Investors, Class R-6
15,152,735
1,548,458
International Growth and Income Fund, Class R-6
17,300,365
863,461
 
13,434,358
Equity-income funds 10%
 
 
The Income Fund of America, Class R-6
109,095,558
3,050,312
Capital Income Builder, Class R-6
26,937,690
2,260,880
 
5,311,192
Balanced funds 13%
 
 
American Balanced Fund, Class R-6
101,999,664
4,125,886
American Funds Global Balanced Fund, Class R-6
56,931,414
2,430,402
 
6,556,288
Fixed income funds 38%
 
 
The Bond Fund of America, Class R-6
364,794,510
4,038,275
American Funds Inflation Linked Bond Fund, Class R-6
310,137,031
2,927,694
Intermediate Bond Fund of America, Class R-6
222,132,274
2,758,883
American Funds Mortgage Fund, Class R-6
318,231,161
2,746,335
U.S. Government Securities Fund, Class R-6
219,847,765
2,567,822
American Funds Multi-Sector Income Fund, Class R-6
174,424,869
1,606,453
American Funds Strategic Bond Fund, Class R-6
148,553,064
1,329,550
Capital World Bond Fund, Class R-6
65,470,246
1,035,739
American High-Income Trust, Class R-6
68,720,052
667,272
American Funds Emerging Markets Bond Fund, Class R-6
15,429,807
124,518
 
19,802,541
Total investment securities 100% (cost: $42,332,792,000)
51,546,755
Other assets less liabilities 0%
(7,441
)
Net assets 100%
$51,539,314
American Funds Target Date Retirement Series — Page 17 of 27
unaudited
Investments in affiliates (b)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth funds 13%
AMCAP Fund, Class R-6 (a)
$2,878,136
$402,547
$870,228
$92,034
$(252,169
)
$2,250,320
$—
$299,366
American Funds Global Insight Fund,
Class R-6
1,633,746
20,606
257,064
76,919
85,204
1,559,411
19,087
—
The Growth Fund of America, Class R-6
1,737,445
194,423
529,859
192,221
(282,527
)
1,311,703
9,417
160,323
New Perspective Fund, Class R-6
907,852
58,163
288,732
142,144
(154,689
)
664,738
11,742
46,421
SMALLCAP World Fund, Inc., Class R-6
906,801
42,509
352,445
60,930
(1,591
)
656,204
8,805
33,704
 
6,442,376
Growth-and-income funds 26%
American Mutual Fund, Class R-6
3,562,738
249,038
528,114
82,427
74,710
3,440,799
51,251
197,788
Capital World Growth and Income Fund,
Class R-6
3,603,438
344,794
710,758
115,502
87,823
3,440,799
53,112
291,681
Washington Mutual Investors Fund, Class R-6
2,644,384
244,932
339,423
33,750
6,635
2,590,278
31,895
213,038
The Investment Company of America,
Class R-6
1,631,526
146,617
239,347
65,898
(54,131
)
1,550,563
14,412
132,205
Fundamental Investors, Class R-6
1,633,154
122,720
316,457
97,027
12,014
1,548,458
11,641
111,079
International Growth and Income Fund,
Class R-6
1,003,291
69,168
298,952
88,971
983
863,461
16,697
52,472
 
13,434,358
Equity-income funds 10%
The Income Fund of America, Class R-6
2,236,209
967,427
238,370
14,180
70,866
3,050,312
81,181
129,764
Capital Income Builder, Class R-6
2,236,210
177,169
291,796
38,189
101,108
2,260,880
58,024
102,011
 
5,311,192
Balanced funds 13%
American Balanced Fund, Class R-6
4,343,087
310,879
658,326
85,825
44,421
4,125,886
81,330
229,550
American Funds Global Balanced Fund,
Class R-6
2,683,901
146,217
459,732
37,483
22,533
2,430,402
47,586
98,631
 
6,556,288
Fixed income funds 38%
The Bond Fund of America, Class R-6
3,621,748
815,450
255,198
(27,261
)
(116,464
)
4,038,275
127,306
—
American Funds Inflation Linked Bond Fund,
Class R-6
3,170,082
234,943
352,134
(51,789
)
(73,408
)
2,927,694
113,969
—
Intermediate Bond Fund of America, Class R-6
2,574,782
414,854
162,370
(10,481
)
(57,902
)
2,758,883
84,832
—
American Funds Mortgage Fund, Class R-6
2,577,509
441,932
175,583
(20,477
)
(77,046
)
2,746,335
88,846
—
U.S. Government Securities Fund, Class R-6
2,502,903
327,191
159,722
(14,983
)
(87,567
)
2,567,822
84,100
—
American Funds Multi-Sector Income Fund,
Class R-6
1,560,494
199,277
102,106
(1,347
)
(49,865
)
1,606,453
77,023
—
American Funds Strategic Bond Fund,
Class R-6
1,033,147
410,707
54,260
(2,985
)
(57,059
)
1,329,550
37,687
—
Capital World Bond Fund, Class R-6
1,015,293
92,218
42,965
(1,972
)
(26,835
)
1,035,739
20,748
—
American High-Income Trust, Class R-6
151,703
546,180
18,011
(189
)
(12,411
)
667,272
20,809
—
American Funds Emerging Markets Bond
Fund, Class R-6
—
126,230
529
(1
)
(1,182
)
124,518
2,274
—
 
19,802,541
Total 100%
$1,092,015
$(798,549
)
$51,546,755
$1,153,774
$2,098,033
 
(a)
Non-income producing.
(b)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
American Funds Target Date Retirement Series — Page 18 of 27
American Funds 2025
Target Date Retirement Income Fund®
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 5%
Shares
Value
(000)
American Funds Global Insight Fund, Class R-6
25,906,712
$810,621
AMCAP Fund, Class R-6 (a)
11,097,027
513,460
 
1,324,081
Growth-and-income funds 23%
 
 
American Mutual Fund, Class R-6
28,006,360
1,816,212
Capital World Growth and Income Fund, Class R-6
21,128,975
1,710,390
Washington Mutual Investors Fund, Class R-6
22,252,890
1,513,864
Fundamental Investors, Class R-6
8,896,835
909,168
The Investment Company of America, Class R-6
13,325,041
909,168
International Growth and Income Fund, Class R-6
3,980,147
198,649
 
7,057,451
Equity-income funds 15%
 
 
The Income Fund of America, Class R-6
104,196,481
2,913,333
Capital Income Builder, Class R-6
20,199,471
1,695,342
 
4,608,675
Balanced funds 12%
 
 
American Balanced Fund, Class R-6
59,904,077
2,423,120
American Funds Global Balanced Fund, Class R-6
28,526,490
1,217,796
 
3,640,916
Fixed income funds 45%
 
 
The Bond Fund of America, Class R-6
232,166,019
2,570,078
American Funds Inflation Linked Bond Fund, Class R-6
223,504,160
2,109,879
Intermediate Bond Fund of America, Class R-6
146,286,157
1,816,874
American Funds Mortgage Fund, Class R-6
209,629,954
1,809,107
U.S. Government Securities Fund, Class R-6
129,248,697
1,509,625
American Funds Multi-Sector Income Fund, Class R-6
131,699,238
1,212,950
American High-Income Trust, Class R-6
109,336,903
1,061,661
American Funds Strategic Bond Fund, Class R-6
101,072,009
904,594
Capital World Bond Fund, Class R-6
38,491,601
608,937
 
13,603,705
Total investment securities 100% (cost: $25,611,413,000)
30,234,828
Other assets less liabilities 0%
(4,750
)
Net assets 100%
$30,230,078
American Funds Target Date Retirement Series — Page 19 of 27
unaudited
Investments in affiliates (b)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth funds 5%
American Funds Global Insight Fund, Class R-6
$917,689
$10,723
$206,309
$62,429
$26,089
$810,621
$10,723
$—
AMCAP Fund, Class R-6 (a)
852,659
98,181
394,299
127,696
(170,777
)
513,460
—
81,505
 
1,324,081
Growth-and-income funds 23%
American Mutual Fund, Class R-6
1,939,241
135,088
342,801
80,966
3,718
1,816,212
27,609
107,479
Capital World Growth and Income Fund, Class R-6
1,890,032
180,036
462,817
136,788
(33,649
)
1,710,390
27,349
152,687
Washington Mutual Investors Fund, Class R-6
1,625,199
148,020
283,125
53,937
(30,167
)
1,513,864
19,384
128,636
Fundamental Investors, Class R-6
980,156
73,447
210,519
64,204
1,880
909,168
6,986
66,461
The Investment Company of America, Class R-6
982,509
88,128
168,545
43,849
(36,773
)
909,168
8,680
79,447
International Growth and Income Fund, Class R-6
265,631
18,262
108,249
41,167
(18,162
)
198,649
4,298
13,964
 
7,057,451
Equity-income funds 15%
The Income Fund of America, Class R-6
2,814,009
505,621
484,241
28,310
49,634
2,913,333
92,838
161,541
Capital Income Builder, Class R-6
1,685,345
210,943
308,183
53,174
54,063
1,695,342
43,164
74,589
 
4,608,675
Balanced funds 12%
American Balanced Fund, Class R-6
2,608,479
186,164
451,926
79,152
1,251
2,423,120
48,743
137,421
American Funds Global Balanced Fund, Class R-6
1,307,871
72,995
194,694
38,950
(7,326
)
1,217,796
23,928
49,067
 
3,640,916
Fixed income funds 45%
The Bond Fund of America, Class R-6
2,602,894
345,745
284,375
(26,478
)
(67,708
)
2,570,078
85,648
—
American Funds Inflation Linked Bond Fund,
Class R-6
2,594,968
132,820
519,579
(54,768
)
(43,562
)
2,109,879
91,187
—
Intermediate Bond Fund of America, Class R-6
1,956,091
121,141
214,066
(11,181
)
(35,111
)
1,816,874
59,485
—
American Funds Mortgage Fund, Class R-6
1,952,911
135,864
213,943
(25,163
)
(40,562
)
1,809,107
62,360
—
U.S. Government Securities Fund, Class R-6
1,626,828
113,362
169,188
(12,260
)
(49,117
)
1,509,625
51,551
—
American Funds Multi-Sector Income Fund,
Class R-6
1,305,788
86,286
140,077
47
(39,094
)
1,212,950
60,109
—
American High-Income Trust, Class R-6
980,636
218,850
116,938
(2,852
)
(18,035
)
1,061,661
50,196
—
American Funds Strategic Bond Fund, Class R-6
975,190
64,680
90,956
(5,878
)
(38,442
)
904,594
30,006
—
Capital World Bond Fund, Class R-6
651,053
32,239
57,576
(6,249
)
(10,530
)
608,937
12,213
—
 
13,603,705
Total 100%
$665,840
$(502,380
)
$30,234,828
$816,457
$1,052,797
 
(a)
Non-income producing.
(b)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
American Funds Target Date Retirement Series — Page 20 of 27
American Funds 2020
Target Date Retirement Income Fund®
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 2%
Shares
Value
(000)
American Funds Global Insight Fund, Class R-6
5,683,762
$177,845
AMCAP Fund, Class R-6 (a)
1,096,302
50,726
 
228,571
Growth-and-income funds 21%
 
 
American Mutual Fund, Class R-6
12,886,469
835,688
Capital World Growth and Income Fund, Class R-6
8,606,340
696,683
Washington Mutual Investors Fund, Class R-6
9,525,676
648,032
The Investment Company of America, Class R-6
6,132,398
418,413
Fundamental Investors, Class R-6
3,611,307
369,039
 
2,967,855
Equity-income funds 19%
 
 
The Income Fund of America, Class R-6
61,484,117
1,719,097
Capital Income Builder, Class R-6
10,837,472
909,589
 
2,628,686
Balanced funds 12%
 
 
American Balanced Fund, Class R-6
26,215,277
1,060,408
American Funds Global Balanced Fund, Class R-6
13,162,001
561,886
 
1,622,294
Fixed income funds 46%
 
 
The Bond Fund of America, Class R-6
110,963,858
1,228,370
Intermediate Bond Fund of America, Class R-6
78,853,140
979,356
American Funds Inflation Linked Bond Fund, Class R-6
102,625,648
968,786
American Funds Mortgage Fund, Class R-6
96,211,511
830,305
American Funds Multi-Sector Income Fund, Class R-6
60,391,381
556,205
American Funds Strategic Bond Fund, Class R-6
51,785,117
463,477
U.S. Government Securities Fund, Class R-6
38,653,644
451,474
American High-Income Trust, Class R-6
46,414,052
450,680
Capital World Bond Fund, Class R-6
17,665,279
279,465
Short-Term Bond Fund of America, Class R-6
25,861,339
244,907
 
6,453,025
Total investment securities 100% (cost: $11,731,399,000)
13,900,431
Other assets less liabilities 0%
(2,322
)
Net assets 100%
$13,898,109
American Funds Target Date Retirement Series — Page 21 of 27
unaudited
Investments in affiliates (b)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth funds 2%
American Funds Global Insight Fund, Class R-6
$239,121
$2,827
$85,858
$26,581
$(4,826
)
$177,845
$2,827
$—
AMCAP Fund, Class R-6 (a)
119,895
14,261
77,912
39,202
(44,720
)
50,726
—
10,617
 
228,571
Growth-and-income funds 21%
American Mutual Fund, Class R-6
889,510
63,647
156,283
40,210
(1,396
)
835,688
12,663
49,270
Capital World Growth and Income Fund, Class R-6
746,764
78,457
170,262
52,690
(10,966
)
696,683
10,896
60,358
Washington Mutual Investors Fund, Class R-6
715,945
64,530
142,615
31,221
(21,049
)
648,032
8,452
56,077
The Investment Company of America, Class R-6
449,247
43,002
77,006
17,387
(14,217
)
418,413
3,983
36,463
Fundamental Investors, Class R-6
418,988
33,688
111,129
37,614
(10,122
)
369,039
2,943
28,239
 
2,967,855
Equity-income funds 19%
The Income Fund of America, Class R-6
1,812,185
167,853
306,634
37,491
8,202
1,719,097
57,995
102,597
Capital Income Builder, Class R-6
894,876
120,415
162,503
35,766
21,035
909,589
22,938
39,637
 
2,628,686
Balanced funds 12%
American Balanced Fund, Class R-6
1,163,127
83,190
220,916
40,427
(5,420
)
1,060,408
21,715
61,475
American Funds Global Balanced Fund, Class R-6
596,801
33,468
82,804
16,568
(2,147
)
561,886
10,967
22,501
 
1,622,294
Fixed income funds 46%
The Bond Fund of America, Class R-6
1,241,150
160,223
128,213
(15,031
)
(29,759
)
1,228,370
40,635
—
Intermediate Bond Fund of America, Class R-6
959,397
126,914
82,571
(3,784
)
(20,600
)
979,356
30,680
—
American Funds Inflation Linked Bond Fund,
Class R-6
1,210,334
44,650
240,633
(8,926
)
(36,639
)
968,786
42,246
—
American Funds Mortgage Fund, Class R-6
913,344
42,135
95,015
(10,439
)
(19,720
)
830,305
28,731
—
American Funds Multi-Sector Income Fund,
Class R-6
612,052
30,278
68,192
303
(18,236
)
556,205
27,739
—
American Funds Strategic Bond Fund, Class R-6
478,527
41,516
34,237
(2,389
)
(19,940
)
463,477
15,026
—
U.S. Government Securities Fund, Class R-6
615,278
17,709
161,630
(24,781
)
4,898
451,474
17,709
—
American High-Income Trust, Class R-6
460,950
48,396
49,781
(785
)
(8,100
)
450,680
22,458
—
Capital World Bond Fund, Class R-6
309,674
10,160
32,712
(3,460
)
(4,197
)
279,465
5,618
—
Short-Term Bond Fund of America, Class R-6
56,159
207,544
15,501
(113
)
(3,182
)
244,907
4,915
—
 
6,453,025
Total 100%
$305,752
$(241,101
)
$13,900,431
$391,136
$467,234
 
(a)
Non-income producing.
(b)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
American Funds Target Date Retirement Series — Page 22 of 27
American Funds 2015
Target Date Retirement Income Fund®
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth-and-income funds 19%
Shares
Value
(000)
American Mutual Fund, Class R-6
3,868,925
$250,900
Capital World Growth and Income Fund, Class R-6
2,361,136
191,134
Washington Mutual Investors Fund, Class R-6
2,627,681
178,761
The Investment Company of America, Class R-6
1,950,940
133,113
Fundamental Investors, Class R-6
715,262
73,092
 
827,000
Equity-income funds 21%
 
 
The Income Fund of America, Class R-6
23,438,199
655,332
Capital Income Builder, Class R-6
3,493,980
293,250
 
948,582
Balanced funds 10%
 
 
American Balanced Fund, Class R-6
7,661,897
309,924
American Funds Global Balanced Fund, Class R-6
3,469,585
148,116
 
458,040
Fixed income funds 50%
 
 
Intermediate Bond Fund of America, Class R-6
35,499,275
440,901
The Bond Fund of America, Class R-6
39,397,492
436,130
American Funds Inflation Linked Bond Fund, Class R-6
31,125,164
293,822
American Funds Mortgage Fund, Class R-6
32,522,582
280,670
Short-Term Bond Fund of America, Class R-6
28,408,127
269,025
American Funds Strategic Bond Fund, Class R-6
19,717,765
176,474
American Funds Multi-Sector Income Fund, Class R-6
17,590,075
162,005
American High-Income Trust, Class R-6
8,931,966
86,729
Capital World Bond Fund, Class R-6
3,660,292
57,906
 
2,203,662
Total investment securities 100% (cost: $3,753,319,000)
4,437,284
Other assets less liabilities 0%
(777
)
Net assets 100%
$4,436,507
American Funds Target Date Retirement Series — Page 23 of 27
unaudited
Investments in affiliates (a)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth-and-income funds 19%
American Mutual Fund, Class R-6
$271,955
$19,081
$51,734
$15,513
$(3,915
)
$250,900
$3,833
$14,962
Capital World Growth and Income Fund, Class R-6
217,003
23,038
60,385
21,086
(9,608
)
191,134
3,113
17,541
Washington Mutual Investors Fund, Class R-6
188,684
17,386
30,106
5,404
(2,607
)
178,761
2,244
14,907
The Investment Company of America, Class R-6
141,839
13,542
23,278
4,271
(3,261
)
133,113
1,258
11,533
Fundamental Investors, Class R-6
85,397
6,472
24,296
9,222
(3,703
)
73,092
591
5,723
 
827,000
Equity-income funds 21%
The Income Fund of America, Class R-6
652,120
85,276
99,706
11,631
6,011
655,332
21,136
36,956
Capital Income Builder, Class R-6
292,786
32,119
50,207
11,072
7,480
293,250
7,423
12,850
 
948,582
Balanced funds 10%
American Balanced Fund, Class R-6
331,230
23,563
55,154
8,975
1,310
309,924
6,174
17,390
American Funds Global Balanced Fund, Class R-6
171,373
9,406
36,523
8,322
(4,462
)
148,116
3,034
6,372
 
458,040
Fixed income funds 50%
Intermediate Bond Fund of America, Class R-6
444,461
58,555
51,175
(1,851
)
(9,089
)
440,901
13,822
—
The Bond Fund of America, Class R-6
435,033
65,717
48,791
(4,170
)
(11,659
)
436,130
14,344
—
American Funds Inflation Linked Bond Fund,
Class R-6
369,011
20,272
81,576
(2,042
)
(11,843
)
293,822
12,915
—
American Funds Mortgage Fund, Class R-6
293,557
28,926
31,774
(2,339
)
(7,700
)
280,670
9,437
—
Short-Term Bond Fund of America, Class R-6
260,246
38,296
25,300
(820
)
(3,397
)
269,025
7,973
—
American Funds Strategic Bond Fund, Class R-6
189,808
12,369
17,091
(1,048
)
(7,564
)
176,474
5,808
—
American Funds Multi-Sector Income Fund, Class R-6
180,377
9,168
22,270
159
(5,429
)
162,005
8,167
—
American High-Income Trust, Class R-6
114,354
5,288
31,129
(855
)
(929
)
86,729
5,098
—
Capital World Bond Fund, Class R-6
76,628
2,191
19,306
(2,670
)
1,063
57,906
1,183
—
 
2,203,662
Total 100%
$79,860
$(69,302
)
$4,437,284
$127,553
$138,234
 
(a)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
American Funds Target Date Retirement Series — Page 24 of 27
American Funds 2010
Target Date Retirement Income Fund®
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth-and-income funds 15%
Shares
Value
(000)
American Mutual Fund, Class R-6
2,647,245
$171,674
Washington Mutual Investors Fund, Class R-6
2,170,858
147,684
Capital World Growth and Income Fund, Class R-6
1,208,862
97,857
The Investment Company of America, Class R-6
1,304,402
88,999
Fundamental Investors, Class R-6
232,784
23,788
 
530,002
Equity-income funds 25%
 
 
The Income Fund of America, Class R-6
24,222,676
677,266
Capital Income Builder, Class R-6
3,078,251
258,358
 
935,624
Balanced funds 8%
 
 
American Balanced Fund, Class R-6
6,140,727
248,392
American Funds Global Balanced Fund, Class R-6
1,123,933
47,981
 
296,373
Fixed income funds 52%
 
 
Intermediate Bond Fund of America, Class R-6
37,716,198
468,435
The Bond Fund of America, Class R-6
37,014,552
409,751
Short-Term Bond Fund of America, Class R-6
35,278,693
334,089
American Funds Mortgage Fund, Class R-6
32,921,047
284,109
American Funds Inflation Linked Bond Fund, Class R-6
22,131,265
208,919
American Funds Strategic Bond Fund, Class R-6
16,925,148
151,480
American Funds Multi-Sector Income Fund, Class R-6
7,822,018
72,041
 
1,928,824
Total investment securities 100% (cost: $3,273,665,000)
3,690,823
Other assets less liabilities 0%
(544
)
Net assets 100%
$3,690,279
American Funds Target Date Retirement Series — Page 25 of 27
unaudited
Investments in affiliates (a)
 
 
Value at
11/1/2025
(000)
Additions
(000)
Reductions
(000)
Net
realized
gain (loss)
(000)
Net
unrealized
appreciation
(depreciation)
(000)
Value at
7/31/2026
(000)
Dividend
income
(000)
Capital gain
distributions
received
(000)
Growth-and-income funds 15%
American Mutual Fund, Class R-6
$184,471
$18,990
$39,956
$10,523
$(2,354
)
$171,674
$2,621
$10,219
Washington Mutual Investors Fund, Class R-6
154,256
18,731
27,823
3,580
(1,060
)
147,684
1,853
12,305
Capital World Growth and Income Fund, Class R-6
108,651
14,658
31,514
10,603
(4,541
)
97,857
1,573
8,787
The Investment Company of America, Class R-6
108,561
14,723
34,729
10,232
(9,788
)
88,999
932
8,828
Fundamental Investors, Class R-6
31,543
2,592
12,301
4,674
(2,720
)
23,788
211
2,077
 
530,002
Equity-income funds 25%
The Income Fund of America, Class R-6
702,520
71,114
114,818
12,160
6,290
677,266
22,500
39,499
Capital Income Builder, Class R-6
271,718
20,143
50,186
11,233
5,450
258,358
6,828
11,956
 
935,624
Balanced funds 8%
American Balanced Fund, Class R-6
271,540
21,329
52,858
8,754
(373
)
248,392
5,074
14,347
American Funds Global Balanced Fund, Class R-6
62,858
3,595
19,749
4,871
(3,594
)
47,981
1,084
2,344
 
296,373
Fixed income funds 52%
Intermediate Bond Fund of America, Class R-6
441,802
81,495
43,483
(1,158
)
(10,221
)
468,435
14,203
—
The Bond Fund of America, Class R-6
395,326
65,687
36,572
(2,395
)
(12,295
)
409,751
13,286
—
Short-Term Bond Fund of America, Class R-6
333,357
39,696
33,673
(792
)
(4,499
)
334,089
10,069
—
American Funds Mortgage Fund, Class R-6
286,880
31,998
24,710
(1,568
)
(8,491
)
284,109
9,407
—
American Funds Inflation Linked Bond Fund,
Class R-6
263,396
12,600
57,160
(2,091
)
(7,826
)
208,919
9,278
—
American Funds Strategic Bond Fund, Class R-6
162,943
8,089
12,140
(954
)
(6,458
)
151,480
5,027
—
American Funds Multi-Sector Income Fund, Class R-6
93,228
4,604
23,307
381
(2,865
)
72,041
4,048
—
 
1,928,824
Total 100%
$68,053
$(65,345
)
$3,690,823
$107,994
$110,362
 
(a)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
American Funds Target Date Retirement Series — Page 26 of 27
unaudited
Valuation disclosures
Security valuation — 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. The net asset value of each share class of each fund is calculated based on the reported net asset values of the underlying funds in which each fund invests. The net asset value of each underlying fund is calculated based on the policies and procedures of the underlying fund contained in each underlying fund’s statement of additional information.
Processes and structure — The series’ board of trustees has designated the series’ investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Committee”) to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser’s global risk management group. The Committee reports changes to the fair valuation guidelines to the board of trustees. The series’ board and audit committee also regularly review reports that describe fair value determinations and methods.
Classifications — The series’ investment adviser classifies each fund’s assets and liabilities into three levels based on the method 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. 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. As of
July 31, 2026, all of the investment securities held by each fund were classified as Level 1.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the series prospectus and summary prospectuses, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the American Funds website at capitalgroup.com. Fund shares offered through Capital Client Group, Inc.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
Capital Client Group, Inc., member FINRA.
© 2026 Capital Group. All rights reserved.
MFGEFP3-850-0926
American Funds Target Date Retirement Series — Page 27 of 27