American Funds IS 3Rd Quarter Holdings
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American Funds Insurance Series® Global Growth Fund Investment portfolio September 30, 2020 unaudited Common stocks 95.21% Value Information technology 30.49% Shares (000) Microsoft Corp. 1,926,700 $ 405,243 ASML Holding NV1 621,142 229,037 ASML Holding NV (New York registered) (ADR) 473,400 174,812 Taiwan Semiconductor Manufacturing Company, Ltd.1 25,312,000 380,150 Taiwan Semiconductor Manufacturing Company, Ltd. (ADR) 280,000 22,700 Visa Inc., Class A 1,055,000 210,968 Paycom Software, Inc.2 357,000 111,134 Adyen NV1,2 56,700 104,490 Broadcom Inc. 233,350 85,014 Adobe Inc.2 135,000 66,208 Temenos AG1 421,100 56,708 PagSeguro Digital Ltd., Class A2 1,340,900 50,565 Zendesk, Inc.2 454,000 46,725 Amphenol Corp., Class A 373,500 40,439 EPAM Systems, Inc.2 105,240 34,022 Keyence Corp.1 68,300 31,831 Advanced Micro Devices, Inc.2 301,500 24,720 Mastercard Inc., Class A 67,500 22,826 TeamViewer AG1,2 428,000 21,135 Hexagon AB, Class B1,2 215,000 16,249 Autodesk, Inc.2 68,000 15,709 Worldline SA, non-registered shares1,2 152,800 12,529 Amadeus IT Group SA, Class A, non-registered shares1 212,301 11,782 Jack Henry & Associates, Inc. 69,400 11,284 Network International Holdings PLC1,2 3,173,000 11,209 2,197,489 Consumer discretionary 21.59% Amazon.com, Inc.2 146,880 462,485 Alibaba Group Holding Ltd.1,2 5,868,300 217,002 Chipotle Mexican Grill, Inc.2 107,400 133,574 Just Eat Takeaway (GBP denominated)1,2 640,914 71,617 Just Eat Takeaway (EUR denominated)1,2 347,000 38,860 Ocado Group PLC1,2 2,881,000 101,814 LVMH Moët Hennessy-Louis Vuitton SE1 158,900 74,285 Prosus NV1,2 536,800 49,503 NIKE, Inc., Class B 383,100 48,094 Moncler SpA1,2 1,132,370 46,380 Meituan Dianping, Class B1,2 1,057,400 33,254 Renault SA1,2 1,100,000 28,393 Peugeot SA1,2 1,448,800 26,122 Home Depot, Inc. 92,275 25,626 Sony Corp.1 243,000 18,586 MercadoLibre, Inc.2 16,400 17,753 Naspers Ltd., Class N1,2 100,000 17,638 Wynn Macau, Ltd.1,2 10,510,400 16,825 MGM China Holdings, Ltd.1 12,708,000 15,780 American Funds Insurance Series — Global Growth Fund — Page 1 of 233 unaudited Common stocks (continued) Value Consumer discretionary (continued) Shares (000) IDP Education Ltd.1 1,119,000 $ 15,290 Domino’s Pizza, Inc. 33,500 14,247 XPeng Inc., Class A (ADR)2,3 700,100 14,051 EssilorLuxottica1,2 102,335 13,916 Melco Resorts & Entertainment Ltd. (ADR) 835,000 13,903 Delivery Hero SE1,2 118,000 13,574 Flutter Entertainment PLC (EUR denominated)1 84,650 13,413 THG Holdings Ltd.1,2 979,358 7,560 Marriott International, Inc., Class A 74,000 6,851 1,556,396 Health care 12.58% DexCom, Inc.2 253,000 104,294 UnitedHealth Group Inc. 276,800 86,298 AstraZeneca PLC1 674,300 73,392 Fisher & Paykel Healthcare Corp. Ltd.1 3,008,000 66,212 Mettler-Toledo International Inc.2 65,000 62,774 Pfizer Inc. 1,699,000 62,353 Regeneron Pharmaceuticals, Inc.2 98,300 55,026 Merck & Co., Inc. 620,000 51,429 Cigna Corp. 252,011 42,693 NovoCure Ltd.2 340,000 37,845 Tandem Diabetes Care, Inc.2 285,000 32,348 Danaher Corp. 110,000 23,686 Boston Scientific Corp.2 600,000 22,926 Humana Inc. 55,000 22,764 Bayer AG1 363,860 22,742 Zoetis Inc., Class A 130,000 21,498 Vertex Pharmaceuticals Inc.2 78,800 21,443 bioMérieux SA1 135,000 21,133 Olympus Corp.1 796,800 16,539 Novartis AG1 165,600 14,391 Teladoc Health, Inc.2,3 63,600 13,944 Sanofi1 135,000 13,536 Coloplast A/S, Class B1 55,750 8,817 GN Store Nord AS1 115,500 8,739 906,822 Communication services 8.45% Alphabet Inc., Class A2 95,500 139,965 Alphabet Inc., Class C2 63,852 93,837 Tencent Holdings Ltd.1 2,215,000 147,504 Facebook, Inc., Class A2 395,600 103,608 Nintendo Co., Ltd.1 117,600 66,853 Altice USA, Inc., Class A2 751,200 19,531 Sea Ltd., Class A (ADR)2 95,851 14,765 América Móvil, SAB de CV, Series L (ADR) 946,000 11,816 Twitter, Inc.2 252,000 11,214 609,093 Financials 8.29% AIA Group Ltd.1 12,153,300 119,724 Tradeweb Markets Inc., Class A 1,685,360 97,751 MarketAxess Holdings Inc. 151,400 72,913 Kotak Mahindra Bank Ltd.1,2 3,704,500 63,762 American Funds Insurance Series — Global Growth Fund — Page 2 of 233 unaudited Common stocks (continued) Value Financials (continued) Shares (000) JPMorgan Chase & Co. 568,700 $ 54,749 AXA SA1 1,692,893 31,251 Prudential PLC1 1,773,082 25,314 CME Group Inc., Class A 144,437 24,166 Moscow Exchange MICEX-RTS PJSC1 12,640,000 23,792 Willis Towers Watson PLC 73,000 15,244 BlackRock, Inc. 26,500 14,934 FinecoBank SpA1,2 893,000 12,287 Société Générale1,2 818,650 10,833 HDFC Life Insurance Company Ltd.1,2 1,230,000 9,333 Macquarie Group Ltd.1 101,500 8,718 Sberbank of Russia PJSC (ADR)1,2 645,500 7,531 Banco Santander, SA1 2,946,020 5,488 597,790 Consumer staples 6.65% British American Tobacco PLC1 2,921,900 105,022 Philip Morris International Inc. 919,500 68,953 Kweichow Moutai Co., Ltd., Class A1 269,957 66,364 Nestlé SA1 554,497 65,785 Altria Group, Inc. 1,248,500 48,242 Keurig Dr Pepper Inc. 1,624,000 44,823 Walgreens Boots Alliance, Inc. 657,651 23,623 General Mills, Inc. 257,000 15,852 Costco Wholesale Corp. 42,170 14,970 Associated British Foods PLC1 595,000 14,333 Mondelez International, Inc. 192,000 11,030 478,997 Industrials 3.40% Airbus SE, non-registered shares1,2 667,000 48,414 DSV Panalpina A/S1 201,000 32,801 MTU Aero Engines AG1 167,000 27,775 IDEX Corp. 112,000 20,430 Alliance Global Group, Inc.1,2 135,603,500 19,609 GT Capital Holdings, Inc.1 2,454,611 19,566 NIBE Industrier AB, Class B1,2 685,000 17,655 Safran SA1,2 164,000 16,138 Nidec Corp.1 149,100 13,866 SMC Corp.1 22,500 12,523 Boeing Company 51,300 8,478 General Electric Co. 1,260,000 7,850 245,105 Materials 1.94% Sherwin-Williams Company 153,900 107,228 Koninklijke DSM NV1 101,700 16,760 Shin-Etsu Chemical Co., Ltd.1 119,500 15,597 139,585 American Funds Insurance Series — Global Growth Fund — Page 3 of 233 unaudited Common stocks (continued) Value Energy 1.24% Shares (000) Reliance Industries Ltd.1 1,807,924 $ 55,064 Reliance Industries Ltd., interim shares1 106,956 1,959 Gazprom PJSC (ADR)1 4,173,000 18,155 LUKOIL Oil Co. PJSC (ADR)1 246,300 14,241 89,419 Real estate 0.41% Goodman Logistics (HK) Ltd. REIT1 1,276,503 16,429 ESR Cayman Ltd.1,2 4,100,000 12,792 29,221 Utilities 0.17% Ørsted AS1 91,250 12,586 Total common stocks (cost: $3,407,252,000) 6,862,503 Preferred securities 2.51% Health care 2.10% Sartorius AG, nonvoting preferred, non-registered shares1 367,200 150,844 Information technology 0.41% Samsung Electronics Co., Ltd., nonvoting preferred shares1 687,600 29,665 Total preferred securities (cost: $39,782,000) 180,509 Short-term securities 2.81% Money market investments 2.81% Capital Group Central Cash Fund 0.12%4,5 1,952,020 195,222 Goldman Sachs Financial Square Government Fund, Institutional Shares 0%4,6 7,277,993 7,278 202,500 Total short-term securities (cost: $202,484,000) 202,500 Total investment securities 100.53% (cost: $3,649,518,000) 7,245,512 Other assets less liabilities (0.53)% (38,047) Net assets 100.00% $7,207,465 Investments in affiliates5 Value of Net Net Value of affiliate at realized unrealized affiliate at Dividend 1/1/2020 Additions Reductions gain depreciation 9/30/2020 income (000) (000) (000) (000) (000) (000) (000) Short-term securities 2.71% Money market investments 2.71% Capital Group Central Cash Fund 0.12%4 $137,140 $712,901 $654,744 $171 $(246) $195,222 $907 American Funds Insurance Series — Global Growth Fund — Page 4 of 233 unaudited 1Valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities was $3,276,766,000, which represented 45.46% of the net assets of the fund. This entire amount relates to certain securities trading outside the U.S. whose values were adjusted as a result of significant market movements following the close of local trading. 2Security did not produce income during the last 12 months. 3All or a portion of this security was on loan. The total value of all such securities was $7,906,000, which represented .11% of the net assets of the fund. 4Rate represents the seven-day yield at 9/30/2020. 5Part of the same group of investment companies as the fund as defined under the Investment Company Act of 1940.