American Funds Insurance Series Global Small Cap Division

Portfolio Composition

as of 03/31/2025

Asset Type	Net	Short	Long
Non-U.S. Stocks	48.02%	0.0%	48.02%
U.S. Stocks	46.72%	0.0%	46.72%
Cash	4.4%	0.47%	4.87%
Preferred	0.79%	0.0%	0.79%
Convertibles	0.05%	0.0%	0.05%
Other	0.02%	0.0%	0.02%
Total	100%

Top 10 Holdings

as of 03/31/2025

What's this?

% of Net Assets

Insulet Corp	1.99
CBIZ Inc	1.54
PAR Technology Corp	1.53
Cholamandalam Investment and Finance Co Ltd	1.34
Skechers USA Inc Class A	1.12
Glacier Bancorp Inc	1.08
DraftKings Inc Ordinary Shares - Class A	1.07
Entain PLC	1.07
Masimo Corp	1.04
Embassy Office Parks REIT	1.03

Total*: 12.80

*Values may exceed 100% if both long and short positions are included in the portfolio

Morningstar Style Box™

as of 03/31/2025

What's this?

Stock Sector Breakdown

as of 03/31/2025

What's this?

% of Net Assets

Cyclical

38.72

Basic Materials	4.69
Consumer Cyclical	16.07
Financial Svcs	15.11
Real Estate	2.85

Defensive

18.52

Consumer Defensive	2.31
Healthcare	14.44
Utilities	1.77

Sensitive

42.77

Comm Svcs	5.68
Energy	2.16
Industrials	22.62
Technology	12.31

Top 5 Countries

as of 03/31/2025

% of Net Assets

United States	49.31
India	9.44
Japan	6.63
United Kingdom	4.88
Sweden	3.59

Regional Exposure

as of 03/31/2025

% of Net Assets

United States	49.31
Europe	19.52
Pacific Rim	17.96
Japan	6.63
Latin America	4.39
Other	2.19

Analysis

as of 03/31/2025

Average Market Cap (mil):	$4,323.59
Price/Earnings Ratio:	17.16
Price/Book Ratio:	2.09
Price/Cash Flow Ratio:	9.66
Turnover Ratio:	47.00%
# Stock Holdings:	269
# Bond Holdings:	0
# Other Holdings:	16
Total # of Holdings:	285

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* Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

Investing involves risk, including possible loss of principal.

Fees and expenses are only one of several factors that participants and beneficiaries should consider when making investment decisions. The cumulative effect of fees and expenses can substantially reduce the growth of a participant's or beneficiary's retirement account. Participants and beneficiaries can visit the Employee Benefit Security Administration's website for an example demonstrating the long-term effect of fees and expenses.

Returns shown reflect all investment management charges and any miscellaneous expenses incurred by the underlying accounts of the divisions. Returns do not include premium expense charges and various monthly deductions (administration charges, cost of insurance, and mortality and expense risks charges) which vary by contract. In addition, results do not reflect the premium expense charge or the surrender charge levied if the policy is surrendered during the first 10 policy years, or within 10 years after a face amount increase. If these fees and charges had been deducted, the results shown would be significantly lower. These charges are explained fully in the prospectus and their effect upon cash surrender values are best explained by reviewing several hypothetical illustrations contained in the prospectus. For a personalized illustration of historical performance, which reflects the cost of insurance protection, contact your registered representative.

This material is authorized for distribution to prospective investors only when preceded or accompanied by a current prospectus for the Variable Universal Life product or Variable Annuity product and the underlying investment options. Insurance products from the Principal Financial Group® are issued by Principal National Life Insurance Company (except in New York) and Principal Life Insurance Company. Securities offered through Principal Securities, Inc., 800-247-9988, member SIPC. Principal National, Principal Life, and Principal Securities are members of the Principal Financial Group®, Des Moines, IA 50392.

Small-cap and mid-cap investment options are subject to more fluctuation in value and may have additional risks than other investment options with stocks of larger, more stable companies.

Equity investment options involve greater risk, including heightened volatility, than fixed-income investment options. Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise.

Returns do not take into account any variable annuity contract fees, your actual returns could be lower.

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