American Funds Portfolio Series
American Funds Global Growth Portfolio
Investment portfolio
July 31, 2026
unaudited
Fund investments
Growth funds 83%
Shares
Value
(000)
New Perspective Fund, Class R-6
21,463,826
$1,594,548
SMALLCAP World Fund, Inc., Class R-6
13,830,370
1,166,730
The Growth Fund of America, Class R-6
12,100,916
1,031,482
EUPAC Fund, Class R-6
12,833,525
809,667
New World Fund, Inc., Class R-6
7,569,463
804,482
The New Economy Fund, Class R-6 (a)
9,100,611
775,372
American Funds Global Insight Fund, Class R-6
13,013,164
407,182
 
6,589,463
Growth-and-income funds 17%
 
 
Capital World Growth and Income Fund, Class R-6
16,887,632
1,367,054
Total investment securities 100% (cost: $5,390,565,000)
7,956,517
Other assets less liabilities 0%
(1,778
)
Net assets 100%
$7,954,739
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 83%
New Perspective Fund, Class R-6
$1,426,715
$176,534
$—
$—
$(8,701
)
$1,594,548
$18,602
$73,538
SMALLCAP World Fund, Inc., Class R-6
1,035,546
76,508
26,499
(304
)
81,479
1,166,730
10,417
39,874
The Growth Fund of America, Class R-6
1,081,524
145,814
141,548
24,704
(79,012
)
1,031,482
5,882
100,131
EUPAC Fund, Class R-6
579,295
261,276
4,678
605
(26,831
)
809,667
17,394
86,929
New World Fund, Inc., Class R-6
509,993
243,484
8,634
1,520
58,119
804,482
7,313
22,295
The New Economy Fund, Class R-6 (a)
1,113,836
102,355
506,158
184,896
(119,557
)
775,372
—
99,204
American Funds Global Insight Fund, Class R-6
356,993
11,406
—
—
38,783
407,182
4,231
—
 
6,589,463
Growth-and-income funds 17%
Capital World Growth and Income Fund, Class R-6
1,083,424
244,456
38,021
2,317
74,878
1,367,054
17,976
89,239
Total 100%
$213,738
$19,158
$7,956,517
$81,815
$511,210
 
(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 Portfolio Series — Page 1 of 14
American Funds Growth Portfolio
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 75%
Shares
Value
(000)
The Growth Fund of America, Class R-6
67,371,458
$5,742,744
New Perspective Fund, Class R-6
54,984,961
4,084,833
SMALLCAP World Fund, Inc., Class R-6
48,013,176
4,050,391
The New Economy Fund, Class R-6 (a)
32,622,559
2,779,442
AMCAP Fund, Class R-6 (a)
58,803,538
2,720,840
New World Fund, Inc., Class R-6
10,464,558
1,112,173
 
20,490,423
Growth-and-income funds 25%
 
 
Fundamental Investors, Class R-6
27,202,443
2,779,818
The Investment Company of America, Class R-6
40,644,380
2,773,166
Washington Mutual Investors Fund, Class R-6
20,511,473
1,395,395
 
6,948,379
Total investment securities 100% (cost: $19,680,228,000)
27,438,802
Other assets less liabilities 0%
(6,479
)
Net assets 100%
$27,432,323
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 75%
The Growth Fund of America, Class R-6
$6,286,537
$759,526
$972,282
$106,332
$(437,369
)
$5,742,744
$34,200
$582,236
New Perspective Fund, Class R-6
3,714,388
396,630
—
—
(26,185
)
4,084,833
48,751
192,728
SMALLCAP World Fund, Inc., Class R-6
3,653,028
245,690
127,528
(14,108
)
293,309
4,050,391
36,756
140,692
The New Economy Fund, Class R-6 (a)
2,629,009
236,258
300,022
55,096
159,101
2,779,442
—
236,258
AMCAP Fund, Class R-6 (a)
3,727,877
436,917
1,247,252
337,325
(534,027
)
2,720,840
—
353,493
New World Fund, Inc., Class R-6
—
1,060,060
—
—
52,113
1,112,173
—
—
 
20,490,423
Growth-and-income funds 25%
Fundamental Investors, Class R-6
2,497,498
198,784
99,545
16,128
166,953
2,779,818
19,363
179,421
The Investment Company of America, Class R-6
2,468,373
272,183
—
—
32,610
2,773,166
23,511
204,436
Washington Mutual Investors Fund, Class R-6
—
1,380,121
12,064
204
27,134
1,395,395
4,972
51,502
 
6,948,379
Total 100%
$500,977
$(266,361
)
$27,438,802
$167,553
$1,940,766
 
(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 Portfolio Series — Page 2 of 14
American Funds Growth and Income Portfolio
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 21%
Shares
Value
(000)
SMALLCAP World Fund, Inc., Class R-6
21,615,487
$1,823,483
American Funds Global Insight Fund, Class R-6
38,427,157
1,202,386
The Growth Fund of America, Class R-6
13,729,974
1,170,343
New World Fund, Inc., Class R-6
6,774,719
720,017
 
4,916,229
Growth-and-income funds 42%
 
 
Capital World Growth and Income Fund, Class R-6
43,817,412
3,547,019
The Investment Company of America, Class R-6
41,759,311
2,849,238
Washington Mutual Investors Fund, Class R-6
35,029,071
2,383,028
Fundamental Investors, Class R-6
11,691,627
1,194,767
 
9,974,052
Equity-income funds 10%
 
 
Capital Income Builder, Class R-6
28,393,038
2,383,028
Balanced funds 10%
 
 
American Balanced Fund, Class R-6
58,154,813
2,352,362
Fixed income funds 17%
 
 
American Funds Multi-Sector Income Fund, Class R-6
124,402,343
1,145,746
The Bond Fund of America, Class R-6
103,340,138
1,143,975
American Funds Strategic Bond Fund, Class R-6
127,315,483
1,139,473
American Funds Emerging Markets Bond Fund, Class R-6
57,206,286
461,655
 
3,890,849
Total investment securities 100% (cost: $17,975,049,000)
23,516,520
Other assets less liabilities 0%
(5,067
)
Net assets 100%
$23,511,453
American Funds Portfolio Series — Page 3 of 14
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 funds 21%
SMALLCAP World Fund, Inc., Class R-6
$1,696,637
$114,370
$118,947
$(8,933
)
$140,356
$1,823,483
$17,105
$65,476
American Funds Global Insight Fund, Class R-6
1,087,742
23,665
25,327
5,137
111,169
1,202,386
12,892
—
The Growth Fund of America, Class R-6
1,602,416
181,577
517,828
170,337
(266,159
)
1,170,343
8,714
148,357
New World Fund, Inc., Class R-6
—
686,279
—
—
33,738
720,017
—
—
 
4,916,229
Growth-and-income funds 42%
Capital World Growth and Income Fund,
Class R-6
3,351,493
338,038
344,919
44,409
157,998
3,547,019
51,243
273,652
The Investment Company of America, Class R-6
4,431,623
427,577
1,975,107
701,426
(736,281
)
2,849,238
35,848
360,680
Washington Mutual Investors Fund, Class R-6
2,158,387
228,204
39,437
2,943
32,931
2,383,028
27,458
184,185
Fundamental Investors, Class R-6
—
1,164,644
14,858
331
44,650
1,194,767
2,758
18,088
 
9,974,052
Equity-income funds 10%
Capital Income Builder, Class R-6
2,103,194
201,882
66,106
9,945
134,113
2,383,028
56,924
96,122
Balanced funds 10%
American Balanced Fund, Class R-6
2,179,588
160,605
62,655
5,691
69,133
2,352,362
42,752
117,853
Fixed income funds 17%
American Funds Multi-Sector Income Fund,
Class R-6
1,031,507
164,771
15,173
(327
)
(35,032
)
1,145,746
52,400
—
The Bond Fund of America, Class R-6
1,028,539
174,286
17,770
(1,728
)
(39,352
)
1,143,975
36,519
—
American Funds Strategic Bond Fund,
Class R-6
1,025,491
180,852
12,707
(991
)
(53,172
)
1,139,473
35,138
—
American Funds Emerging Markets Bond
Fund, Class R-6
—
465,074
—
—
(3,419
)
461,655
7,555
—
 
3,890,849
Total 100%
$928,240
$(409,327
)
$23,516,520
$387,306
$1,264,413
 
(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 Portfolio Series — Page 4 of 14
American Funds Moderate Growth and Income Portfolio
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 15%
Shares
Value
(000)
New Perspective Fund, Class R-6
11,550,469
$858,084
SMALLCAP World Fund, Inc., Class R-6
9,879,820
833,462
The Growth Fund of America, Class R-6
6,040,150
514,862
New World Fund, Inc., Class R-6
3,295,312
350,226
 
2,556,634
Growth-and-income funds 22%
 
 
Washington Mutual Investors Fund, Class R-6
30,365,719
2,065,780
Capital World Growth and Income Fund, Class R-6
21,249,149
1,720,118
 
3,785,898
Equity-income funds 10%
 
 
The Income Fund of America, Class R-6
61,681,850
1,724,625
Balanced funds 36%
 
 
American Balanced Fund, Class R-6
88,724,305
3,588,898
American Funds Global Balanced Fund, Class R-6
60,428,061
2,579,674
 
6,168,572
Fixed income funds 17%
 
 
American Funds Multi-Sector Income Fund, Class R-6
91,079,381
838,841
The Bond Fund of America, Class R-6
75,358,066
834,214
American Funds Strategic Bond Fund, Class R-6
92,751,673
830,128
American Funds Emerging Markets Bond Fund, Class R-6
42,015,761
339,067
 
2,842,250
Total investment securities 100% (cost: $12,968,639,000)
17,077,979
Other assets less liabilities 0%
(3,595
)
Net assets 100%
$17,074,384
American Funds Portfolio Series — Page 5 of 14
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 funds 15%
New Perspective Fund, Class R-6
$831,105
$53,583
$19,363
$2,761
$(10,002
)
$858,084
$10,818
$42,765
SMALLCAP World Fund, Inc., Class R-6
818,696
44,359
90,676
(8,983
)
70,066
833,462
8,158
31,226
The Growth Fund of America, Class R-6
—
504,045
10,334
554
20,597
514,862
—
—
New World Fund, Inc., Class R-6
—
336,030
2,373
158
16,411
350,226
—
—
 
2,556,634
Growth-and-income funds 22%
Washington Mutual Investors Fund, Class R-6
2,422,692
215,377
601,308
132,705
(103,686
)
2,065,780
28,517
184,312
Capital World Growth and Income Fund, Class R-6
1,636,079
161,159
175,670
37,593
60,957
1,720,118
25,177
134,425
 
3,785,898
Equity-income funds 10%
The Income Fund of America, Class R-6
1,573,743
175,025
69,272
4,615
40,514
1,724,625
53,324
91,577
Balanced funds 36%
American Balanced Fund, Class R-6
4,043,407
293,355
862,952
176,379
(61,291
)
3,588,898
76,326
217,028
American Funds Global Balanced Fund, Class R-6
2,426,840
143,134
55,671
3,371
62,000
2,579,674
46,810
92,224
 
6,168,572
Fixed income funds 17%
American Funds Multi-Sector Income Fund,
Class R-6
773,368
91,088
—
—
(25,615
)
838,841
38,325
—
The Bond Fund of America, Class R-6
772,572
91,579
—
—
(29,937
)
834,214
26,701
—
American Funds Strategic Bond Fund, Class R-6
770,303
99,890
796
4
(39,273
)
830,128
25,679
—
American Funds Emerging Markets Bond Fund,
Class R-6
—
341,578
—
—
(2,511
)
339,067
5,548
—
 
2,842,250
Total 100%
$349,157
$(1,770
)
$17,077,979
$345,383
$793,557
 
(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 Portfolio Series — Page 6 of 14
American Funds Conservative Growth and Income Portfolio
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth-and-income funds 26%
Shares
Value
(000)
Washington Mutual Investors Fund, Class R-6
14,571,399
$991,292
Capital World Growth and Income Fund, Class R-6
10,900,256
882,376
American Mutual Fund, Class R-6
10,671,226
692,029
 
2,565,697
Equity-income funds 30%
 
 
Capital Income Builder, Class R-6
17,674,631
1,483,432
The Income Fund of America, Class R-6
52,964,888
1,480,898
 
2,964,330
Fixed income funds 44%
 
 
American Funds Multi-Sector Income Fund, Class R-6
156,893,082
1,444,985
The Bond Fund of America, Class R-6
130,329,869
1,442,752
American High-Income Trust, Class R-6
99,134,970
962,600
American Funds Emerging Markets Bond Fund, Class R-6
47,930,318
386,798
 
4,237,135
Total investment securities 100% (cost: $8,720,413,000)
9,767,162
Other assets less liabilities 0%
(2,026
)
Net assets 100%
$9,765,136
American Funds Portfolio Series — Page 7 of 14
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 26%
Washington Mutual Investors Fund, Class R-6
$904,440
$117,746
$46,562
$2,412
$13,256
$991,292
$11,544
$77,144
Capital World Growth and Income Fund, Class R-6
644,609
248,199
61,609
7,189
43,988
882,376
11,003
53,005
American Mutual Fund, Class R-6
902,046
71,738
308,821
107,301
(80,235
)
692,029
12,445
50,969
 
2,565,697
Equity-income funds 30%
Capital Income Builder, Class R-6
1,344,623
101,738
52,745
6,017
83,799
1,483,432
36,286
61,475
The Income Fund of America, Class R-6
1,341,780
139,432
38,227
616
37,297
1,480,898
45,615
78,209
 
2,964,330
Fixed income funds 44%
American Funds Multi-Sector Income Fund,
Class R-6
1,353,597
140,585
4,728
(49
)
(44,420
)
1,444,985
66,870
—
The Bond Fund of America, Class R-6
1,352,091
145,733
3,131
(60
)
(51,881
)
1,442,752
46,641
—
American High-Income Trust, Class R-6
902,483
78,798
—
—
(18,681
)
962,600
46,541
—
American Funds Emerging Markets Bond Fund,
Class R-6
269,039
120,653
3,538
—
644
386,798
11,335
—
 
4,237,135
Total 100%
$123,426
$(16,233
)
$9,767,162
$288,280
$320,802
 
(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 Portfolio Series — Page 8 of 14
American Funds Tax-Aware Conservative Growth and Income Portfolio
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Growth funds 4%
Shares
Value
(000)
Capital Group Global Equity ETF (a)
8,293,868
$288,544
Growth-and-income funds 47%
 
 
Capital Group Dividend Value ETF (a)
23,024,924
1,140,655
Capital World Growth and Income Fund, Class R-6
9,490,705
768,272
Capital Group Dividend Growers ETF
18,296,002
701,469
Capital Group Conservative Equity ETF
9,987,323
330,680
Capital Group Core Equity ETF
6,069,688
271,254
 
3,212,330
Tax-exempt fixed income funds 48%
 
 
Capital Group Municipal High-Income ETF
64,445,498
1,635,627
Capital Group Municipal Income ETF
50,968,010
1,376,136
Capital Group Short Duration Municipal Income ETF
8,623,426
225,934
 
3,237,697
Short-term securities 1%
Money market investments
 
 
Capital Group Central Cash Fund 3.70% (b)
166,661
16,668
Money market investments purchased with collateral from securities on loan
 
 
Capital Group Central Cash Fund 3.70% (b)(c)
136,539
13,655
Dreyfus Treasury Obligations Cash Management, Institutional Shares 3.56% (b)(c)
7,500,000
7,500
BlackRock Liquidity Funds – FedFund, Institutional Shares 3.56% (b)(c)
6,700,000
6,700
State Street Institutional U.S. Government Money Market Fund, Premier Class 3.62% (b)(c)
4,200,000
4,200
Goldman Sachs Financial Square Government Fund, Institutional Shares 3.57% (b)(c)
2,900,000
2,900
Fidelity Investments Money Market Government Portfolio, Class I 3.55% (b)(c)
2,800,000
2,800
Morgan Stanley Institutional Liquidity Funds – Government Portfolio, Institutional Class 3.59% (b)(c)
2,100,000
2,100
Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 3.64% (b)(c)
1,908,849
1,909
RBC Funds Trust – U.S. Government Money Market Fund, RBC Institutional Class 13.57% (b)(c)
400,000
400
 
42,164
Total short-term securities (cost: $58,829,000)
58,832
Total investment securities 100% (cost: $5,632,133,000)
6,797,403
Other assets less liabilities 0%
(30,295
)
Net assets 100%
$6,767,108
American Funds Portfolio Series — Page 9 of 14
unaudited
Investments in affiliates (d)
 
 
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 4%
Capital Group Global Equity ETF (a)
$—
$263,765
$—
$—
$24,779
$288,544
$446
$—
Growth-and-income funds 47%
Capital Group Dividend Value ETF (a)
972,785
10,302
257
39
157,786
1,140,655
10,298
—
Capital World Growth and Income Fund, Class R-6
912,281
12,795
197,503
49,366
(8,667
)
768,272
12,796
74,881
Capital Group Dividend Growers ETF
598,538
41,854
—
—
61,077
701,469
12,547
—
Capital Group Conservative Equity ETF
295,995
3,850
—
—
30,835
330,680
3,851
—
Capital Group Core Equity ETF
242,714
1,680
—
—
26,860
271,254
1,679
—
 
3,212,330
Tax-exempt fixed income funds 48%
Capital Group Municipal High-Income ETF
1,496,891
148,839
—
—
(10,103
)
1,635,627
48,822
1,264
Capital Group Municipal Income ETF
1,257,723
138,138
—
—
(19,725
)
1,376,136
32,873
—
Capital Group Short Duration Municipal Income
ETF
222,152
4,914
—
—
(1,132
)
225,934
4,854
17
 
3,237,697
Short-term securities 1%
Money market investments
Capital Group Central Cash Fund 3.70% (b)
14,314
283,054
280,701
2
(1
)
16,668
485
—
Money market investments purchased with
collateral from securities on loan
Capital Group Central Cash Fund 3.70% (b)(c)
—
13,655
(e)
—
13,655
—
(f)
—
Total short-term securities
30,323
Total 100%
$49,407
$261,709
$6,768,894
$128,651
$76,162
 
(a)
All or a portion of this security was on loan. 
(b)
Rate represents the seven-day yield at 7/31/2026.
(c)
Security purchased with cash collateral from securities on loan.
(d)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
(e)
Represents net activity.
(f)
Dividend income is included with securities lending income and is not shown in this table.
American Funds Portfolio Series — Page 10 of 14
American Funds Preservation Portfolio
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Fixed income funds 100%
Shares
Value
(000)
Short-Term Bond Fund of America, Class R-6
106,761,246
$1,011,028
Intermediate Bond Fund of America, Class R-6
66,602,701
827,206
 
1,838,234
Total investment securities 100% (cost: $1,946,292,000)
1,838,234
Other assets less liabilities 0%
(271
)
Net assets 100%
$1,837,963
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)
Fixed income funds 100%
Short-Term Bond Fund of America, Class R-6
$1,034,619
$62,916
$70,300
$(443
)
$(15,764
)
$1,011,028
$31,078
$—
Intermediate Bond Fund of America, Class R-6
846,449
58,465
56,995
(230
)
(20,483
)
827,206
26,462
—
 
1,838,234
Total 100%
$(673
)
$(36,247
)
$1,838,234
$57,540
$—
 
(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 Portfolio Series — Page 11 of 14
American Funds Tax-Exempt Preservation Portfolio
Investment portfolio
July 31, 2026
unaudited
 
Fund investments
Tax-exempt fixed income funds 99%
Shares
Value
(000)
Limited Term Tax-Exempt Bond Fund of America, Class R-6
10,081,468
$155,860
Capital Group Short Duration Municipal Income ETF (a)
4,442,161
116,385
American Funds Short-Term Tax-Exempt Bond Fund, Class R-6
11,485,144
114,966
 
387,211
Short-term securities 1%
Money market investments
 
 
Capital Group Central Cash Fund 3.70% (b)
21,342
2,134
Money market investments purchased with collateral from securities on loan
 
 
Capital Group Central Cash Fund 3.70% (b)(c)
235
23
Dreyfus Treasury Obligations Cash Management, Institutional Shares 3.56% (b)(c)
13,054
13
BlackRock Liquidity Funds – FedFund, Institutional Shares 3.56% (b)(c)
11,603
12
Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 3.64% (b)(c)
7,698
8
State Street Institutional U.S. Government Money Market Fund, Premier Class 3.62% (b)(c)
7,252
7
Goldman Sachs Financial Square Government Fund, Institutional Shares 3.57% (b)(c)
5,077
5
Morgan Stanley Institutional Liquidity Funds – Government Portfolio, Institutional Class 3.59% (b)(c)
3,626
4
RBC Funds Trust – U.S. Government Money Market Fund, RBC Institutional Class 13.57% (b)(c)
725
1
 
73
Total short-term securities (cost: $2,206,000)
2,207
Total investment securities 100% (cost: $391,358,000)
389,418
Other assets less liabilities 0%
23
Net assets 100%
$389,441
American Funds Portfolio Series — Page 12 of 14
unaudited
Investments in affiliates (d)
 
 
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)
Tax-exempt fixed income funds 99%
Limited Term Tax-Exempt Bond Fund of America,
Class R-6
$157,982
$13,132
$13,228
$(2
)
$(2,024
)
$155,860
$3,470
$—
Capital Group Short Duration Municipal Income ETF (a)
117,974
9,603
10,600
(3
)
(589
)
116,385
2,546
9
American Funds Short-Term Tax-Exempt Bond Fund,
Class R-6
116,550
9,133
9,903
(8
)
(806
)
114,966
2,532
—
 
387,211
Short-term securities 1%
Money market investments
Capital Group Central Cash Fund 3.70% (b)
1,976
16,300
16,142
—
2,134
55
—
Money market investments purchased with collateral
from securities on loan
Capital Group Central Cash Fund 3.70% (b)(c)
—
23
(e)
—
23
—
(f)
—
Total short-term securities
2,157
Total 100%
$(13
)
$(3,419
)
$389,368
$8,603
$9
 
(a)
All or a portion of this security was on loan. 
(b)
Rate represents the seven-day yield at 7/31/2026.
(c)
Security purchased with cash collateral from securities on loan.
(d)
Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended.
(e)
Represents net activity.
(f)
Dividend income is included with securities lending income and is not shown in this table.
American Funds Portfolio Series — Page 13 of 14
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 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. The net asset value of each share class of each fund is calculated based on the reported net asset values or official closing prices of the underlying funds and exchange-traded funds ("ETFs") 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. ETFs are generally valued at market prices which are based on the official closing price of, or the last reported sale price on, the principal exchange on which such underlying funds are traded, as of the close of business on the day the ETF is being valued or, lacking any sales, at the last available bid price.
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.
MFGEFP3-900-0926
American Funds Portfolio Series — Page 14 of 14