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GROWTH FUND OF AMERICA (0000044201) (Filer)

SEC · EDGAR 财务披露 · October 30, 2026 at 1:13 PM ET

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM N-CSR


CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number

811-00862

The Growth Fund of America

(Exact name of registrant as specified in charter)


6455 Irvine Center Drive
Irvine, California 92618

(Address of principal executive offices)

Hong T. Le

6455 Irvine Center Drive
Irvine, California 92618

(Name and address of agent for service)

Registrant's telephone number, including area code:

(949) 975-5000

Date of fiscal year end:

August 31

Date of reporting period:

August 31, 2026

ITEM 1 - Reports to Stockholders

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class A

| AGTHX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-A. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share class

Costs of a $10,000 investment

Costs paid as a percentage of a $10,000 investment

Class A

$

63
0.59

%

Management's discussion of fund performance

The fund’s Class A shares gained 14.80% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-A.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures reflect deduction of the maximum sales charge and assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class A (with sales charge)

*

8.20

%

9.23

%

14.93

%

The Growth Fund of America — Class A (without sales charge)

*

14.80

%

10.53

%

15.62

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information

is available at

capitalgroup.com/mutual-fund-literature-A

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with mu

ltiple

accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFAAARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class C

| GFACX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-C. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class C$1431.34%

Management's discussion of fund performance

The fund’s Class C shares gained 13.95% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-C.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class C (with sales charge)

*

12.95

%

9.70

%

14.91

%

The Growth Fund of America — Class C (without sales charge)

*

13.95

%

9.70

%

14.91

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector 

(percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-C

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Yo

ur in

structions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFCCARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class F-1

| GFAFX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-F1. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class F-1$700.65%

Management's discussion of fund performance

The fund’s Class F-1 shares gained 14.74% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-F1.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class F-1

*

14.74

%

10.48

%

15.55

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-F1

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shar

eh

olders with

mu

ltiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFF1ARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class F-2

| GFFFX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-F2. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class F-2$430.40%

Management's discussion of fund performance

The fund’s Class F-2 shares gained 15.02% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-F2.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class F-2

*

15.02

%

10.76

%

15.86

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-F2

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shar

eh

olders with m

ul

tiple acc

o

unts at the s

a

me address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFF2ARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class F-3

| GAFFX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-F3. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class F-3$310.29%

Management's discussion of fund performance

The fund’s Class F-3 shares gained 15.15% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-F3.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

Since inception

1

The Growth Fund of America — Class F-3

2

15.15

%

10.88

%

15.68

%

S&P 500 Index

3

20.38

%

12.79

%

15.31

%

1

Class F-3 shares were first offered on January 27, 2017.

2

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

3

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-F3

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be m

aile

d to shareholders with

multip

le ac

count

s at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFF3ARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class 529-A

| CGFAX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529A. You can also request this information by contacting us at (800) 421-4225. 

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class 529-A$670.62%

Management's discussion of fund performance

The fund’s Class 529-A shares gained 14.77% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-529A.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures reflect deduction of the maximum sales charge and assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class 529-A (with sales charge)

*

10.75

%

9.71

%

15.15

%

The Growth Fund of America — Class 529-A (without sales charge)

*

14.77

%

10.50

%

15.56

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-529A

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with mu

ltip

le ac

co

unts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF5AARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class 529-C

| CGFCX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529C. You can also request this information by contacting us at (800) 421-4225. 

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class 529-C$1491.39%

Management's discussion of fund performance

The fund’s Class 529-C shares gained 13.88% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-529C.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class 529-C (with sales charge)

*

12.88

%

9.65

%

15.13

%

The Growth Fund of America — Class 529-C (without sales charge)

*

13.88

%

9.65

%

15.13

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-529C

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to sh

are

holders with mul

tiple

accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF5CARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class 529-E

| CGFEX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529E. You can also request this information by contacting us at (800) 421-4225. 

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class 529-E$930.87%

Management's discussion of fund performance

The fund’s Class 529-E shares gained 14.46% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-529E.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class 529-E

*

14.46

%

10.22

%

15.29

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-529E

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to sh

areh

olders with m

u

ltiple ac

c

ounts

a

t the s

a

me address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF5EARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class 529-F-2

| FAFGX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F2. You can also request this information by contacting us at (800) 421-4225. 

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class 529-F-2$410.38%

Management's discussion of fund performance

The fund’s Class 529-F-2 shares gained 15.04% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-529F2.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

Since inception

1

The Growth Fund of America — Class 529-F-2

2

15.04

%

10.77

%

15.40

%

S&P 500 Index

3

20.38

%

12.79

%

17.44

%

1

Class 529-F-2 shares were first offered on October 30, 2020.

2

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

3

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-529F2

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be m

ail

ed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Gro

up

or your financial intermediary.

Lit. No. MF5XARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class 529-F-3

| FFAFX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F3. You can also request this information by contacting us at (800) 421-4225. 

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class 529-F-3$370.34%

Management's discussion of fund performance

The fund’s Class 529-F-3 shares gained 15.08% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-529F3.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

Since inception

1

The Growth Fund of America — Class 529-F-3

2

15.08

%

10.82

%

15.45

%

S&P 500 Index

3

20.38

%

12.79

%

17.44

%

1

Class 529-F-3 shares were first offered on October 30, 2020.

2

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

3

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-529F3

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to s

hare

holders with m

ultipl

e accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF5YARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class R-1

| RGAAX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R1. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class R-1$1471.37%

Management's discussion of fund performance

The fund’s Class R-1 shares gained 13.91% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-R1.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class R-1

*

13.91

%

9.68

%

14.72

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R1

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders wit

h m

ultiple

acco

unts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFR1ARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class R-2

| RGABX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R2. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class R-2$1481.38%

Management's discussion of fund performance

The fund’s Class R-2 shares gained 13.89% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-R2.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class R-2

*

13.89

%

9.67

%

14.72

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R2

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders wit

h mult

iple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFR2ARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class R-2E

| RGEBX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R2E. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class R-2E$1161.08%

Management's discussion of fund performance

The fund’s Class R-2E shares gained 14.24% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-R2E.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class R-2E

*

14.24

%

10.00

%

15.06

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R2E

.

Important information

To reduce fund expenses, only one copy of most share

h

older documents will be mailed to shareholders wit

h multi

ple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(8

00) 421

-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF2EARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class R-3

| RGACX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R3. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class R-3$1000.93%

Management's discussion of fund performance

The fund’s Class R-3 shares gained 14.41% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-R3.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class R-3

*

14.41

%

10.17

%

15.23

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R3

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with mu

ltip

le accounts at the same address (householding). If you would prefer that your documents not be household

e

d, please contact Ca

pita

l Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or

your

financial intermediary.

Lit. No. MFR3ARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class R-4

| RGAEX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R4. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class R-4$680.63%

Management's discussion of fund performance

The fund’s Class R-4 shares gained 14.75% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-R4.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class R-4

*

14.75

%

10.49

%

15.58

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R4

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with m

ult

iple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effectiv

e

within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFR4ARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class R-5E

| RGAHX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R5E. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class R-5E$460.43%

Management's discussion of fund performance

The fund’s Class R-5E shares gained 14.97% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-R5E.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class R-5E

*

14.97

%

10.71

%

15.81

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R5E

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple

accoun

ts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effectiv

e

within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFE5ARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class R-5

| RGAFX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R5. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share classCosts of a $10,000 investmentCosts paid as a percentage of a $10,000 investment
Class R-5$370.34%

Management's discussion of fund performance

The fund’s Class R-5 shares gained 15.08% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-R5.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class R-5

*

15.08

%

10.82

%

15.92

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R5

.

Important information

To reduce fund expenses, only one co

p

y of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital G

ro

up at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFR5ARX-005-1026 © 2026 Capital Group. All rights reserved.

ANNUAL SHAREHOLDER REPORT

The Growth Fund of America®

Class R-6

| RGAGX

for the year ended August 31, 2026

TSR - American Funds Logo

This annual shareholder report contains important information about The Growth Fund of America (the "fund") for the period from September 1, 2025 to August 31, 2026. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R6. You can also request this information by contacting us at (800) 421-4225.

What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

Share class

Costs of a $10,000 investment

Costs paid as a percentage of a $10,000 investment

Class R-6

$

31
0.29

%

Management's discussion of fund performance

The fund’s Class R-6 shares gained 15.13% for the year ended August 31, 2026. That result compares with a 20.38% gain for the S&P 500 Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-R6.

What factors influenced results

U.S. equities posted strong gains during the fund’s fiscal year, driving the S&P 500 Index to record highs. Markets were supported by higher oil prices amid tensions in the Middle East and continued investment in artificial intelligence infrastructure. The U.S. economy remained resilient, underpinned by steady consumer spending, while signs of a moderating labor market prompted the Federal Reserve to implement three 25-basis-point rate cuts during the period.

Within the fund,

mostsectors contributed positively to returns, with information technology being particularly impactful. The healthcare, industrials and materials sectors also generated solid gains. Although it represented a relatively small portion of the portfolio, the energy sector delivered especially strong results and contributed meaningfully to fund returns.

In contrast, the financials and consumer discretionary sectors posted negative returns and weighed on overall fund results.

How a hypothetical $10,000 investment has grown

Figures assume reinvestment of dividends and capital gains.

Fund Performance - Growth of 10K

Average annual total returns

1 year

5 years

10 years

The Growth Fund of America — Class R-6

*

15.13

%

10.88

%

15.98

%

S&P 500 Index

†

20.38

%

12.79

%

15.37

%

*

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.

†

Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): S&P Dow Jones Indices LLC.

The fund’s past performance is not a predictor of its future performance.

The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.

Key fund statistics

Fund net assets (in millions)

$

353,072
Total number of portfolio holdings316
Total advisory fees paid (in millions)

$

848
Portfolio turnover rate39

%

Portfolio holdings by sector (percent of net assets)

Graphical Representation - Allocation 1 Chart

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R6

.

Important information

To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be

h

ouseholded, please contact Capital Group at

(800) 421-4225

, or contact your financial intermediary. Your instructions will typically be

e

ffective within 30 days of receipt by Capital Group or

your fina

ncial intermediary.

Lit. No. MFR6ARX-005-1026 © 2026 Capital Group. All rights reserved.

ITEM 2 - Code of Ethics

The Registrant has adopted a Code of Ethics, as of the end of the period covered by this report, applicable to the registrant's principal executive officer, principal financial officer and principal accounting officer, or persons performing similar functions. A copy of the code of ethics is available without charge at https://www.capitalgroup.com/individual/pdf/shareholder/cg_code_of_ethics.pdf.

ITEM 3 - Audit Committee Financial Expert

The Registrant's board has determined that Charles E. Andrews, a member of the Registrant's audit committee, is an "audit committee financial expert" and "independent," as such terms are defined in this Item. This designation will not increase the designee's duties, obligations or liability as compared to his or her duties, obligations and liability as a member of the audit committee and of the board, nor will it reduce the responsibility of the other audit committee members. There may be other individuals who, through education or experience, would qualify as "audit committee financial experts" if the board had designated them as such. Most importantly, the board believes each member of the audit committee contributes significantly to the effective oversight of the Registrant's financial statements and condition.

ITEM 4 - Principal Accountant Fees and Services

Registrant1

(a) Audit Fees

(b) Audit-Related Fees

(c) Tax Fees

(d) All Other Fees

August 31, 2026

152,000

47,000

12,000

None

August 31, 2025

151,000

20,000

13,000

None

Adviser and Affiliates2

August 31, 2026

Not Applicable

1,640,000

1,000

137,000

August 31, 2025

Not Applicable

1,614,000

4,000

None

(g) Aggregate

Registrant, Adviser and Affiliates3

non-audit fees

August 31, 2026

1,837,000

August 31, 2025

1,652,000

1The audit fees represents fees billed for professional services rendered for the audit and review of the Registrant's annual financial statements. The audit-related fees represents fees billed for assurance and related services that are reasonably related to the performance of the audit or review of the Registrant's financial statements, but not reported under "audit fees". The tax fees consist of professional services relating to the preparation of the Registrant’s tax returns. The other fees represents fees, if any, billed for other products and services rendered by the principal accountant to the Registrant other than those reported under the "audit fees", "audit-related fees", and "tax fees".

2This includes only fees for non-audit services billed to the adviser and affiliates for engagements that relate directly to the operations and financial reporting of the Registrant and were subject to the pre-approval policies described below. The audit- related fees consist of assurance and related services relating to the examination of the Registrant’s transfer agent, principal underwriter and investment adviser conducted in accordance with Statement on Standards for Attestation Engagements Number 18 issued by the American Institute of Certified Public Accountants. The tax fees consist of consulting services relating to the Registrant’s investments. The other fees consist of subscription services related to an accounting research tool.

3Aggregate non-audit fees paid to the Registrant’s auditors, including fees for all services billed to the Registrant, adviser and affiliates that provide ongoing services to the Registrant. The non-audit services represented by these amounts were brought to the attention of the committee and considered to be compatible with maintaining the auditors’ independence.

(e1)(e2)(h) All audit and permissible non-audit services that the Registrant’s audit committee considers compatible with maintaining the independent registered public accounting firm’s independence are required to be pre-approved by the committee. The pre-approval requirement will extend to all non-audit services provided to the Registrant, the investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant, if the engagement relates directly to the operations and financial reporting of the Registrant. The committee will not delegate its responsibility to pre-approve these services to the investment adviser. The committee may delegate to one or more committee members the authority to review and pre-approve audit and permissible non-audit services. Actions taken under any such delegation will be reported to the full committee at its next meeting. The pre-approval requirement is waived with respect to non-audit services if certain conditions are met. The pre-approval requirement was not waived for any of the non-audit services listed above provided to the Registrant, adviser and affiliates.

(f)Not applicable.

(i)Not applicable.

(j)Not applicable.

ITEM 5 - Audit Committee of Listed Registrants

Not applicable to this Registrant, insofar as the Registrant is not a listed issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934.

ITEM 6 - Investments

The Investment Portfolio is included as part of the material filed under Item 7 of this Form.

ITEM 7 - Financial Statements and Financial Highlights for Open-End Management Investment Companies

  

The Growth Fund of America®

Financial Statements and Other Information
N-CSR Items 7-11

for the year ended August 31, 2026

Lit. No. MFGEFP4-005-1026 © 2026 Capital Group. All rights reserved.


Investment portfolio August 31, 2026


Common stocks 94.51%

Shares

Value

(000)

Information technology 37.31%

NVIDIA Corp.

92,590,256

$20,442,077

Microsoft Corp.

34,097,636

17,297,390

Broadcom, Inc.

41,595,208

15,404,369

Taiwan Semiconductor Manufacturing Co., Ltd.

109,392,875

8,293,609

Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)

2,451,432

1,018,129

Micron Technology, Inc.

7,926,195

7,599,081

Intel Corp. (a)

65,004,705

5,818,571

Apple, Inc.

15,844,121

5,020,210

Cloudflare, Inc., Class A (a)

16,332,067

4,983,077

SK hynix, Inc.

3,378,829

4,132,807

SK hynix, Inc. (ADR) (b)

570,879

93,955

Oracle Corp.

24,996,135

3,727,424

Shopify, Inc., Class A, subordinate voting shares (a)

24,501,395

3,610,771

ASML Holding NV (ADR)

1,166,369

1,978,173

ASML Holding NV

870,830

1,468,514

Strategy, Inc., Class A (a)

22,290,933

2,963,357

Amphenol Corp., Class A

18,566,758

2,943,759

Arista Networks, Inc. (a)

11,517,427

2,253,845

KLA Corp.

12,325,462

2,162,502

Samsung Electronics Co., Ltd.

10,460,061

1,987,152

Western Digital Corp.

3,724,135

1,677,909

Applied Materials, Inc.

3,156,440

1,446,881

Cisco Systems, Inc.

13,089,687

1,446,280

Fair Isaac Corp. (a)

878,317

1,007,614

Seagate Technology Holdings PLC

1,086,880

900,350

Cadence Design Systems, Inc. (a)

2,435,162

824,984

SAP SE

3,614,593

801,499

Aurora Innovation, Inc., Class A (a)(c)

124,991,271

703,701

Texas Instruments, Inc.

2,523,920

658,516

Constellation Software, Inc.

285,411

646,362

Akamai Technologies, Inc. (a)

5,891,626

639,948

First Solar, Inc. (a)

2,800,000

565,320

Coherent Corp. (a)

1,830,409

508,543

Corning, Inc.

2,681,806

398,865

Palo Alto Networks, Inc. (a)

1,023,700

391,186

Anthropic, PBC (a)(d)(e)

519,146

390,045

Twilio, Inc., Class A (a)

1,651,949

389,249

Salesforce, Inc.

1,375,092

354,141

Advanced Micro Devices, Inc. (a)

731,206

344,193

Ciena Corp. (a)

896,203

343,066

OpenAI Group PBC, Class A (a)(d)(e)

457,540

335,862

Tower Semiconductor, Ltd. (a)

1,525,388

312,781

Jentech Precision Industrial Co., Ltd.

1,635,000

308,734

Hewlett Packard Enterprise Co.

5,765,150

301,171

ARM Holdings PLC (ADR) (a)(b)

1,203,654

291,176

Lattice Semiconductor Corp. (a)

2,429,732

280,245

DocuSign, Inc. (a)

4,079,320

270,337

Cerebras Systems, Inc., Class A (a)(b)

1,360,863

250,725

Stripe, LLC, Class B (a)(d)(e)

3,534,894

247,478

Databricks, Inc., Class C (a)(d)(e)

846,923

214,272

RingCentral, Inc., Class A

2,993,914

208,436

MKS, Inc.

607,811

155,745

Unity Software, Inc. (a)

3,250,225

136,834

ServiceNow, Inc. (a)

827,204

122,418

TTM Technologies, Inc. (a)

977,562

116,252

Klaviyo, Inc., Class A (a)

5,274,602

108,551

Adobe, Inc. (a)

307,375

89,996

Hut 8 Corp. (a)

1,000,000

78,640

Lam Research Corp.

251,673

75,877

Quantinuum, Inc., Class A (a)

1,278,900

64,073

IREN, Ltd. (a)(b)

1,240,979

46,059

1

The Growth Fund of America


Common stocks (continued)

Shares

Value

(000)

Information technology (continued)

Cipher Digital, Inc. (a)(b)

2,872,475

$44,523

Keysight Technologies, Inc. (a)

124,778

40,266

Applied Digital Corp. (a)

146,706

3,728

131,741,603

Communication services 12.48%

Alphabet, Inc., Class A

27,913,592

9,472,478

Alphabet, Inc., Class C

27,548,655

9,240,094

Meta Platforms, Inc., Class A

24,966,257

14,289,188

Netflix, Inc. (a)

41,122,392

3,332,970

Space Exploration Technologies Corp., Class A (a)(b)

11,116,833

1,597,378

SoftBank Group Corp.

43,131,092

1,403,954

Live Nation Entertainment, Inc. (a)

6,011,636

1,081,433

AppLovin Corp., Class A (a)

3,209,832

1,001,660

Nintendo Co., Ltd.

14,000,000

792,588

Reddit, Inc., Class A (a)

3,856,813

570,076

Charter Communications, Inc., Class A (a)

3,493,024

532,477

ROBLOX Corp., Class A (a)

10,323,916

426,274

Spotify Technology SA (a)

323,743

175,993

Walt Disney Co. (The)

1,074,904

115,606

Epic Games, Inc. (a)(d)(e)

84,249

31,239

Stubhub Holdings, Inc., Class A (a)

785,445

5,011

44,068,419

Consumer discretionary 11.97%

Amazon.com, Inc. (a)

44,557,014

11,574,575

Tesla, Inc. (a)

19,414,716

7,143,645

Royal Caribbean Cruises, Ltd.

11,216,289

3,014,265

Carvana Co., Class A (a)

36,451,304

2,677,713

MercadoLibre, Inc. (a)

1,321,174

2,558,057

DoorDash, Inc., Class A (a)

9,746,951

2,258,758

D.R. Horton, Inc.

13,419,930

1,939,985

Booking Holdings, Inc.

8,833,632

1,758,688

Starbucks Corp.

15,344,938

1,630,400

General Motors Co.

10,000,000

863,200

Burlington Stores, Inc. (a)

3,043,231

790,510

NVR, Inc. (a)

116,169

733,634

Home Depot, Inc.

1,879,971

616,311

Hilton Worldwide Holdings, Inc.

1,550,240

490,310

Chipotle Mexican Grill, Inc. (a)

12,536,512

476,764

DraftKings, Inc., Class A (a)

18,687,749

453,925

NIKE, Inc., Class B

9,585,032

374,391

Wayfair, Inc., Class A (a)

3,757,466

373,004

Rivian Automotive, Inc., Class A (a)

21,155,295

339,754

TJX Cos., Inc. (The)

2,270,010

303,977

Flutter Entertainment PLC (a)

2,814,442

281,951

Aramark

3,520,696

198,250

O’Reilly Automotive, Inc. (a)

2,197,856

195,170

Viking Holdings, Ltd. (a)

2,240,554

193,001

Toll Brothers, Inc.

1,297,026

186,058

Lennar Corp., Class A

2,148,817

180,737

Floor & Decor Holdings, Inc., Class A (a)

2,786,765

140,091

AutoZone, Inc. (a)

37,831

113,162

Metaplanet, Inc. (a)(b)

48,674,100

95,063

Yum! Brands, Inc.

525,690

80,594

SharkNinja, Inc. (a)

339,954

65,438

Service Corp. International

759,166

61,978

PulteGroup, Inc.

416,847

52,656

Marriott International, Inc., Class A

145,260

49,644

Ferrari NV (b)

19,900

8,410

42,274,069

The Growth Fund of America

2


Common stocks (continued)

Shares

Value

(000)

Health care 9.97%

Eli Lilly and Co.

7,695,486

$8,901,600

Vertex Pharmaceuticals, Inc. (a)(c)

12,908,237

7,028,793

Alnylam Pharmaceuticals, Inc. (a)(c)

8,960,487

2,156,700

Moderna, Inc. (a)

14,983,229

2,102,746

HCA Healthcare, Inc.

3,930,247

1,628,891

UnitedHealth Group, Inc.

3,923,976

1,528,035

Amgen, Inc.

3,452,292

1,484,071

Intuitive Surgical, Inc. (a)

3,218,446

1,212,904

Thermo Fisher Scientific, Inc.

1,656,561

1,022,264

Insmed, Inc. (a)

6,750,832

822,386

Danaher Corp.

3,789,433

809,271

AbbVie, Inc.

2,936,635

753,012

Boston Scientific Corp. (a)

14,183,439

685,060

Revolution Medicines, Inc. (a)

2,964,768

609,467

Illumina, Inc. (a)

2,744,359

586,277

Mettler-Toledo International, Inc. (a)

373,392

524,668

Royalty Pharma PLC, Class A

7,986,638

490,459

Medline, Inc., Class A (a)

13,853,297

485,281

Abbott Laboratories

4,297,468

474,269

Ionis Pharmaceuticals, Inc. (a)

7,668,655

462,880

Zimmer Biomet Holdings, Inc.

3,738,953

374,045

Natera, Inc. (a)

988,724

318,330

Ascendis Pharma AS (a)

894,759

235,357

Guardant Health, Inc. (a)

1,114,643

177,251

CRISPR Therapeutics AG (a)(b)

1,414,053

80,573

EssilorLuxottica SA

411,427

76,630

IQVIA Holdings, Inc. (a)

249,330

65,123

Molina Healthcare, Inc. (a)

314,060

62,426

Align Technology, Inc. (a)

313,487

50,092

35,208,861

Industrials 8.91%

Uber Technologies, Inc. (a)

51,779,133

3,917,091

General Electric Co.

8,403,104

2,821,006

TransDigm Group, Inc.

2,082,394

2,440,024

Recruit Holdings Co., Ltd.

19,972,800

2,277,337

Boeing Co. (The) (a)

9,423,111

1,957,934

Rolls-Royce Holdings PLC

90,801,762

1,882,703

United Airlines Holdings, Inc. (a)

15,738,855

1,699,639

Deere & Co.

2,269,155

1,486,092

FTAI Aviation, Ltd. (c)

7,297,298

1,387,216

GE Vernova, Inc.

1,483,418

1,332,896

Quanta Services, Inc.

1,728,604

1,049,418

RTX Corp.

4,488,580

932,413

Equifax, Inc.

4,752,922

899,063

HEICO Corp.

1,601,921

530,476

HEICO Corp., Class A

303,153

74,021

CSX Corp.

11,357,464

573,666

Bombardier, Inc., Class B (a)

2,625,697

568,050

Ingersoll-Rand, Inc.

6,195,805

477,387

Ryanair Holdings PLC

15,207,800

409,819

Ryanair Holdings PLC (ADR)

1,159,569

64,206

XPO, Inc. (a)

2,425,379

470,499

Airbus SE, non-registered shares

1,853,030

424,537

ATI, Inc. (a)

1,796,859

366,919

Delta Air Lines, Inc.

4,511,923

351,930

Northrop Grumman Corp.

574,345

309,974

Carrier Global Corp.

4,815,087

280,334

Rocket Lab Corp. (a)

3,810,549

243,570

United Rentals, Inc.

201,574

209,234

Safran SA

510,871

199,977

Loar Holdings, Inc. (a)

2,650,504

186,039

Union Pacific Corp.

543,354

163,370

GFL Environmental, Inc., subordinate voting shares

3,381,045

142,984

Copart, Inc. (a)

3,964,721

130,796

Waste Management, Inc.

552,184

120,884

3

The Growth Fund of America


Common stocks (continued)

Shares

Value

(000)

Industrials (continued)

APi Group Corp. (a)

2,681,715

$105,257

Innio NV (a)

5,020,080

101,406

Caterpillar, Inc.

122,370

97,586

Trane Technologies PLC

211,864

94,152

Thomson Reuters Corp. (b)

758,965

81,452

QXO, Inc. (a)(b)

5,953,373

79,061

Saia, Inc. (a)

193,850

68,842

Watsco, Inc.

198,375

61,461

SPX Technologies, Inc. (a)

305,773

60,161

Tetra Tech, Inc.

1,647,990

59,558

Builders FirstSource, Inc. (a)

808,469

53,682

Vertiv Holdings Co, Class A

171,268

44,311

Einride AB (a)(c)(f)

5,398,640

27,047

Einride AB (ADR) (a)(c)(f)

3,332,897

16,698

Generac Holdings, Inc. (a)

200,000

37,076

ITT, Inc.

173,909

34,832

Willscot Holdings Corp., Class A

1,587,237

32,856

Lennox International, Inc.

31,922

12,215

Arxis, Inc., Class A (a)

177,000

9,163

31,458,320

Financials 6.94%

Visa, Inc., Class A

12,795,739

4,854,319

Mastercard, Inc., Class A

5,072,635

2,989,355

KKR & Co., Inc.

15,237,265

1,671,833

Block, Inc., Class A (a)

17,265,378

1,416,106

Affirm Holdings, Inc., Class A (a)

18,487,772

1,376,415

Progressive Corp.

5,644,192

1,230,885

Bank of America Corp.

13,329,781

825,647

Rocket Cos., Inc., Class A (a)

57,617,713

772,653

Goldman Sachs Group, Inc.

696,841

714,889

JPMorgan Chase & Co.

1,890,267

672,973

Nu Holdings, Ltd., Class A (a)

43,500,380

632,930

Ares Management Corp., Class A

4,420,115

632,828

Morgan Stanley

2,901,908

619,035

LPL Financial Holdings, Inc.

1,614,407

597,549

Truist Financial Corp.

12,008,251

595,369

Toast, Inc., Class A (a)

15,820,906

539,335

Berkshire Hathaway, Inc., Class B (a)

948,825

478,236

Fannie Mae (a)(b)

63,166,929

386,582

Robinhood Markets, Inc., Class A (a)

3,617,567

379,157

Federal Home Loan Mortgage Corp. (a)(b)

53,214,820

296,407

Tradeweb Markets, Inc., Class A

2,700,140

290,805

Blue Owl Capital, Inc., Class A

22,083,726

270,305

Marsh & McLennan Cos., Inc.

1,397,386

265,224

Brookfield Corp., Class A

5,597,858

230,744

UBS Group AG

3,793,537

207,803

Coinbase Global, Inc., Class A (a)

1,000,000

188,120

Brown & Brown, Inc.

2,580,584

186,241

Capital One Financial Corp.

775,159

166,279

Adyen NV (a)

134,803

164,002

Apollo Asset Management, Inc.

1,198,798

163,732

Intercontinental Exchange, Inc.

963,973

154,910

Wells Fargo & Co.

1,374,948

118,782

Kinsale Capital Group, Inc.

308,689

115,419

BlackRock, Inc.

91,020

105,184

East West Bancorp, Inc.

579,997

73,578

S&P Global, Inc.

156,639

68,270

Galaxy Digital, Inc., Class A (a)(e)

1,626,400

40,009

24,491,910

Materials 2.19%

Freeport-McMoRan, Inc.

11,563,203

875,797

Sherwin-Williams Co.

2,572,036

871,432

Linde PLC

1,752,754

858,113

The Growth Fund of America

4


Common stocks (continued)

Shares

Value

(000)

Materials (continued)

Steel Dynamics, Inc.

3,527,611

$820,593

Air Products and Chemicals, Inc.

1,746,662

540,522

Albemarle Corp.

3,993,326

538,979

Barrick Mining Corp.

11,487,153

514,969

Dow, Inc.

15,460,916

471,867

Glencore PLC

50,000,000

403,519

Vale SA (ADR), ordinary nominative shares

21,824,908

329,338

Royal Gold, Inc.

1,122,214

293,425

First Quantum Minerals, Ltd. (a)

8,662,221

288,126

James Hardie Industries PLC (a)

9,436,627

280,362

Agnico Eagle Mines, Ltd. (b)

1,351,507

274,505

Southern Copper Corp.

1,214,682

253,711

Corteva, Inc.

1,268,345

107,340

7,722,598

Consumer staples 1.71%

Philip Morris International, Inc.

14,755,501

2,763,705

Costco Wholesale Corp.

1,490,781

1,407,133

L’Oreal SA, bonus shares

1,239,350

553,801

Walmart, Inc.

4,440,589

465,685

Caseys General Stores, Inc.

365,069

274,609

Performance Food Group Co. (a)

2,350,183

233,068

BJ’s Wholesale Club Holdings, Inc. (a)

1,546,549

140,195

Estee Lauder Cos., Inc. (The), Class A

1,016,524

103,990

Dollar Tree Stores, Inc. (a)

611,604

77,423

Celsius Holdings, Inc. (a)

117,452

3,694

6,023,303

Energy 1.53%

EOG Resources, Inc.

8,878,382

1,287,010

TechnipFMC PLC

14,211,577

1,110,635

ExxonMobil Holdings Corp.

5,554,198

893,948

ConocoPhillips

4,899,223

649,098

Diamondback Energy, Inc.

1,647,641

330,319

Ovintiv, Inc.

4,345,292

285,268

Canadian Natural Resources, Ltd. (CAD denominated)

5,660,516

283,812

EQT Corp.

3,574,188

193,650

SLB, Ltd.

2,225,576

133,757

Cenovus Energy, Inc. (CAD denominated)

4,109,182

131,997

Permian Resources Corp., Class A

4,957,423

115,458

5,414,952

Real estate 0.96%

Welltower, Inc. REIT

11,679,340

2,759,127

Zillow Group, Inc., Class C, nonvoting shares (a)

6,941,807

242,685

American Tower Corp. REIT

1,250,000

219,625

CoStar Group, Inc. (a)

4,823,033

154,675

Compass, Inc., Class A (a)

309,644

3,270

3,379,382

Utilities 0.54%

Constellation Energy Corp.

5,140,888

1,412,562

Vistra Corp.

1,686,468

231,670

Southern Co. (The)

1,642,966

144,581

NextEra Energy, Inc.

876,856

72,200

Talen Energy Corp. (a)

125,900

37,236

1,898,249

Total common stocks (cost: $147,900,087,000)

333,681,666

5

The Growth Fund of America


Preferred securities 3.03%

Shares

Value

(000)

Information technology 2.34%

Anthropic, PBC, Class G-1, preferred shares (a)(d)(e)

5,075,585

$3,813,389

Anthropic, PBC, Class F, preferred shares (a)(d)(e)

2,859,590

2,148,467

Databricks, Inc., Series J, preferred shares (a)(d)(e)

2,241,043

566,984

Databricks, Inc., Class L, preferred shares (a)(d)(e)

642,100

162,451

Databricks, Inc., Series K, preferred shares (a)(d)(e)

423,300

107,095

Stripe, LLC, Series I, 6.00% noncumulative preferred shares (a)(d)(e)

7,098,300

496,952

Stripe, LLC, Series BB-1, 6.00% noncumulative preferred shares (a)(d)(e)

604,130

42,295

Stripe, LLC, Series G, 6.00% noncumulative preferred shares (a)(d)(e)

396,250

27,742

Stripe, LLC, Series H, 6.00% noncumulative preferred shares (a)(d)(e)

376,444

26,355

Stripe, LLC, Series BB, 6.00% noncumulative preferred shares (a)(d)(e)

214,287

15,002

Reflection AI, Inc., Series C, preferred shares (a)(d)(e)

3,589,326

300,462

Crusoe Inc, Series E, preferred shares (a)(d)(e)

1,162,528

239,446

Strategy, Inc., Class A, 11.50% perpetual cumulative preferred shares

1,430,240

138,876

PsiQuantum Corp., Series E, preferred shares (a)(d)(e)

2,330,099

109,911

PsiQuantum Corp., Series D, preferred shares (a)(d)(e)

613,889

28,153

Groq, LLC, Series A-1 (a)(c)(d)(e)

9,513,034

35,008

Tipalti Solutions, Ltd., Series F, preferred shares (a)(d)(e)

3,800,381

18,280

8,276,868

Financials 0.57%

Fannie Mae, Series S, 8.25% noncumulative preferred shares (a)

94,127,791

937,513

Fannie Mae, Series T, 8.25% noncumulative preferred shares (a)

11,470,815

97,238

Fannie Mae, Series O, 7.00% noncumulative preferred shares (a)

1,737,998

27,599

Fannie Mae, Series R, 7.625% noncumulative preferred shares (a)

2,137,016

17,481

Fannie Mae, Series Q, 6.75% noncumulative preferred shares (a)

1,926,782

15,395

Fannie Mae, Series P, (3-month USD CME Term SOFR + 0.75%) 4.672% perpetual noncumulative preferred

shares (a)(g)

2,022,626

14,462

Federal Home Loan Mortgage Corp., Series Z, 8.375% noncumulative preferred shares (a)

94,828,533

888,543

Federal Home Loan Mortgage Corp., Series V, 5.57% noncumulative preferred shares (a)

1,966,652

14,573

Federal Home Loan Mortgage Corp., Series X, 6.02% noncumulative preferred shares (a)

238,812

1,791

2,014,595

Consumer discretionary 0.08%

Waymo, LLC, Series A-2, 8.00% noncumulative preferred shares (a)(d)(e)

1,164,589

196,571

Waymo, LLC, Series D-2, preferred shares (a)(d)(e)

267,300

43,939

Waymo, LLC, Series B-2, noncumulative preferred shares (a)(d)(e)

163,537

27,847

268,357

Industrials 0.04%

Anduril Industries, Inc., Class H, preferred shares (a)(d)(e)

2,114,708

153,168

Total preferred securities (cost: $4,975,483,000)

10,712,988

Rights & warrants 0.00%

Information technology 0.00%

Constellation Software, Inc., warrants, expire 3/31/2040 (a)(d)

180,549

—

(h)

Total rights & warrants (cost: $0)

—

(h)

Convertible stocks 0.28%

Information technology 0.28%

OpenAI Group PBC, Class A-2, convertible preferred shares (a)(d)(e)

945,843

694,305

OpenAI Group PBC, Class C, convertible preferred shares (a)(d)(e)

378,996

278,206

Total convertible stocks (cost: $438,313,000)

972,511

The Growth Fund of America

6


Convertible bonds & notes 0.02%

Principal amount

(000)

Value

(000)

Industrials 0.02%

Uber Technologies, Inc., convertible notes, 0% 5/15/2028

USD68,570

$73,096

Total convertible bonds & notes (cost: $68,570,000)

73,096

Short-term securities 2.14%

Shares

Money market investments 2.14%

Capital Group Central Cash Fund 3.78% (c)(i)

75,480,452

7,547,290

Total short-term securities (cost: $7,547,460,000)

7,547,290

Total investment securities 99.98% (cost: $160,929,913,000)

352,987,551

Other assets less liabilities 0.02%

84,539

Net assets 100.00%

$353,072,090

Investments in affiliates (c)


Value at

9/1/2025

(000)

Additions

(000)

Reductions

(000)

Net

realized

gain (loss)

(000)

Net

unrealized

appreciation

(depreciation)

(000)

Value at

8/31/2026

(000)

Dividend

or interest

income

(000)

Common stocks 3.20%

Information technology 0.20%

Aurora Innovation, Inc., Class A (a)

$391,875

$328,650

$—

$—

$(16,824

)

$703,701

$—

Unity Software, Inc. (a)(j)

834,290

145,849

478,682

(88,914

)

(275,709

)

—

—

703,701

Consumer discretionary 0.00%

Burlington Stores, Inc. (a)(j)

1,190,095

91,133

413,638

52,621

(129,701

)

—

—

Caesars Entertainment, Inc. (a)(k)

343,678

—

286,569

(265,830

)

208,721

—

—

Metaplanet, Inc. (a)(b)(j)

48,607

228,467

43,130

(99,843

)

(39,038

)

—

—

Polaris, Inc. (k)

217,153

—

241,027

(187,755

)

211,629

—

6,304

Royal Caribbean Cruises, Ltd. (j)

7,651,993

447,490

3,485,527

2,250,853

(3,850,544

)

—

89,818

—

Health care 2.60%

Vertex Pharmaceuticals, Inc. (a)

4,690,087

1,216,690

787,527

(46,785

)

1,956,328

7,028,793

—

Alnylam Pharmaceuticals, Inc. (a)

4,545,952

492,757

1,111,261

306,148

(2,076,896

)

2,156,700

—

9,185,493

Industrials 0.40%

FTAI Aviation, Ltd.

571,542

812,107

—

—

3,567

1,387,216

10,193

Einride AB (a)(f)

—

58,261

—

—

(31,214

)

27,047

—

Einride AB (ADR) (a)(f)

—

30,939

—

—

(14,241

)

16,698

—

ATI, Inc. (a)(j)

515,882

267,257

996,349

860,808

(280,679

)

—

—

Dayforce, Inc. (a)(k)

643,561

—

633,043

56,959

(67,477

)

—

—

XPO, Inc. (a)(j)

993,375

—

777,270

270,522

(16,128

)

—

—

1,430,961

Total common stocks

11,320,155

Preferred securities 0.01%

Information technology 0.01%

Groq, LLC, Series A-1 (a)(d)(e)

—

9,513

—

—

25,495

35,008

—

Short-term securities 2.14%

Money market investments 2.14%

Capital Group Central Cash Fund 3.78% (i)

8,649,484

42,269,337

43,369,892

49

(1,688

)

7,547,290

316,822

7

The Growth Fund of America


Investments in affiliates (c) (continued)


Value at

9/1/2025

(000)

Additions

(000)

Reductions

(000)

Net

realized

gain (loss)

(000)

Net

unrealized

appreciation

(depreciation)

(000)

Value at

8/31/2026

(000)

Dividend

or interest

income

(000)

Money market investments purchased with collateral

from securities on loan 0.00%

Capital Group Central Cash Fund 3.78% (i)

$56,191

$—

$56,191

(l)

$—

$—

(m)

Total short-term securities

7,547,290

Total 5.35%

$3,108,833

$(4,394,399

)

$18,902,453

$423,137

Restricted securities (e)


Acquisition

date(s)

Cost

(000)

Value

(000)

Percent

of net

assets

Anthropic, PBC, Class G-1, preferred shares (a)(d)

1/27/2026-2/12/2026

$1,315,269

$3,813,389

1.08

%

Anthropic, PBC, Class F, preferred shares (a)(d)

8/29/2025

403,109

2,148,467

0.61

Anthropic, PBC (a)(d)

3/26/2026

134,530

390,045

0.11

OpenAI Group PBC, Class A-2, convertible preferred shares (a)(d)

10/28/2025

177,682

694,305

0.20

OpenAI Group PBC, Class A (a)(d)

10/28/2025

196,742

335,862

0.09

OpenAI Group PBC, Class C, convertible preferred shares (a)(d)

3/31/2026

260,631

278,206

0.08

Databricks, Inc., Series J, preferred shares (a)(d)

12/17/2024

207,296

566,984

0.16

Databricks, Inc., Class C (a)(d)

8/12/2026

214,272

214,272

0.06

Databricks, Inc., Class L, preferred shares (a)(d)

12/16/2025

121,999

162,451

0.05

Databricks, Inc., Series K, preferred shares (a)(d)

9/8/2025

63,495

107,095

0.03

Stripe, LLC, Series I, 6.00% noncumulative preferred shares (a)(d)

3/15/2023

142,918

496,952

0.14

Stripe, LLC, Class B (a)(d)

5/6/2021-4/2/2026

195,738

247,478

0.07

Stripe, LLC, Series BB-1, 6.00% noncumulative preferred

shares (a)(d)

8/24/2023

13,012

42,295

0.01

Stripe, LLC, Series G, 6.00% noncumulative preferred shares (a)(d)

9/29/2023

8,909

27,742

0.01

Stripe, LLC, Series H, 6.00% noncumulative preferred shares (a)(d)

3/15/2021

15,105

26,355

0.01

Stripe, LLC, Series BB, 6.00% noncumulative preferred shares (a)(d)

8/24/2023

4,615

15,002

—

(n)

Reflection AI, Inc., Series C, preferred shares (a)(d)

4/17/2026-6/30/2026

300,650

300,462

0.08

Waymo, LLC, Series A-2, 8.00% noncumulative preferred

shares (a)(d)

5/1/2020

100,000

196,571

0.06

Waymo, LLC, Series D-2, preferred shares (a)(d)

2/2/2026

43,922

43,939

0.01

Waymo, LLC, Series B-2, noncumulative preferred shares (a)(d)

6/11/2021

15,000

27,847

0.01

Crusoe Inc, Series E, preferred shares (a)(d)

10/8/2025

97,662

239,446

0.07

Anduril Industries, Inc., Class H, preferred shares (a)(d)

4/1/2026-5/12/2026

145,815

153,168

0.04

PsiQuantum Corp., Series E, preferred shares (a)(d)

3/17/2025-6/3/2025

95,828

109,911

0.03

PsiQuantum Corp., Series D, preferred shares (a)(d)

5/28/2021

16,100

28,153

0.01

Galaxy Digital, Inc., Class A (a)

10/10/2025

58,550

40,009

0.01

Groq, LLC, Series A-1 (a)(c)(d)

6/25/2026

9,513

35,008

0.01

Epic Games, Inc. (a)(d)

3/29/2021

74,560

31,239

0.01

Tipalti Solutions, Ltd., Series F, preferred shares (a)(d)

12/1/2021

65,065

18,280

0.01

Total

$4,497,987

$10,790,933

3.06

%

The Growth Fund of America

8


(a)

Non-income producing.

(b)

All or a portion of this security was on loan. Refer to Note 5 for more information on securities lending.

(c)

Affiliate of the fund or part of the same “group of investment companies“ as the fund, as defined under the Investment Company Act of 1940, as amended.

(d)

Value determined using significant unobservable inputs.

(e)

Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933.

(f)

Security is subject to a contractual sale restriction (lockup). The total value of all such securities was $43,745,000, which represented less than 0.01% of the net

assets of the fund. The remaining lockup period is generally less than one year; and early lockup release provisions may be applicable based on certain set

milestones or conditions in accordance with legal documents.

(g)

Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the

issuer or agent based on current market conditions; therefore, the reference rate and spread are not available.

(h)

Amount less than one thousand.

(i)

Rate represents the seven-day yield at 8/31/2026.

(j)

Affiliated issuer during the reporting period but no longer an affiliate at 8/31/2026. Refer to the investment portfolio for the security value at 8/31/2026.

(k)

Affiliated issuer during the reporting period but no longer held at 8/31/2026.

(l)

Represents net activity. Refer to Note 5 for more information on securities lending.

(m)

Dividend income is included with securities lending income in the fund’s statement of operations and is not shown in this table.

(n)

Amount less than 0.01%.

Key to abbreviation(s)

ADR = American Depositary Receipts

CAD = Canadian dollars

CME = CME Group

REIT = Real Estate Investment Trust

SOFR = Secured Overnight Financing Rate

USD = U.S. dollars

Refer to the notes to financial statements.

9

The Growth Fund of America


Financial statements

Statement of assets and liabilities at August 31, 2026


(dollars in thousands) 

Assets:

Investment securities, at value (includes $588,058 of

investment securities on loan):

Unaffiliated issuers (cost: $145,933,803)

$334,085,098

Affiliated issuers (cost: $14,996,110)

18,902,453

$352,987,551

Cash

726

Cash denominated in currencies other than U.S. dollars (cost: $1,851)

1,856

Cash collateral received for securities on loan

381,635

Receivables for:

Sales of investments

511,762

Sales of fund’s shares

145,465

Dividends and interest

183,013

Securities lending income

451

Other

2,838

843,529

354,215,297

Liabilities:

Collateral for securities on loan

381,635

Payables for:

Purchases of investments

92,318

Repurchases of fund’s shares

513,212

Investment advisory services

74,879

Services provided by related parties

66,305

Trustees’ deferred compensation

10,703

Other

4,155

761,572

Net assets at August 31, 2026

$353,072,090

Net assets consist of:

Capital paid in on shares of beneficial interest

$130,361,128

Total distributable earnings (accumulated loss)

222,710,962

Net assets at August 31, 2026

$353,072,090

Refer to the notes to financial statements.

The Growth Fund of America

10


Financial statements (continued)

Statement of assets and liabilities at August 31, 2026 (continued)


(dollars and shares in thousands, except per-share amounts)

Shares of beneficial interest issued and outstanding (no stated par value) —
unlimited shares authorized (4,026,440 total shares outstanding) 

Net assets

Shares

outstanding

Net asset value

per share

Class A

$177,715,599

2,014,588

$88.21

Class C

4,008,173

54,592

73.42

Class F-1

7,208,156

82,606

87.26

Class F-2

51,311,688

583,466

87.94

Class F-3

18,413,823

208,285

88.41

Class 529-A

17,963,462

207,731

86.47

Class 529-C

356,299

4,849

73.48

Class 529-E

450,461

5,326

84.58

Class 529-F-2

2,104,024

23,874

88.13

Class 529-F-3

192

2

88.04

Class R-1

353,978

4,694

75.41

Class R-2

2,709,075

35,264

76.82

Class R-2E

407,267

4,861

83.78

Class R-3

5,803,585

68,505

84.72

Class R-4

6,672,942

76,746

86.95

Class R-5E

1,670,830

19,213

86.96

Class R-5

1,842,045

20,858

88.31

Class R-6

54,080,491

610,980

88.51

Refer to the notes to financial statements.

11

The Growth Fund of America


Financial statements (continued)

Statement of operations for the year ended August 31, 2026


(dollars in thousands) 

Investment income:

Income:

Dividends (net of non-U.S. taxes of $31,915;

also includes $423,137 from affiliates)

$2,354,861

Interest from unaffiliated issuers

4,818

Securities lending income (net of fees)

3,957

$2,363,636

Fees and expenses*:

Investment advisory services

847,776

Distribution services

580,535

Transfer agent services

198,995

Administrative services

101,576

529 plan services

10,235

Reports to shareholders

4,855

Registration statement and prospectus

10,156

Trustees’ compensation

2,341

Auditing and legal

775

Custodian

6,012

Other

352

1,763,608

Net investment income

600,028

Net realized gain (loss) and unrealized appreciation (depreciation):

Net realized gain (loss) on:

Investments:

Unaffiliated issuers

39,316,477

Affiliated issuers

3,108,833

Currency transactions

(17,617

)

42,407,693

Net unrealized appreciation (depreciation) on:

Investments:

Unaffiliated issuers

8,620,312

Affiliated issuers

(4,394,399

)

Currency translations

149

4,226,062

Net realized gain (loss) and unrealized appreciation (depreciation)

46,633,755

Net increase (decrease) in net assets resulting from operations

$47,233,783

*

Additional information related to class-specific fees and expenses is included in the notes to financial statements.

Statements of changes in net assets


(dollars in thousands) 

Year ended August 31,

2026

2025

Operations:

Net investment income

$600,028

$866,245

Net realized gain (loss)

42,407,693

30,304,769

Net unrealized appreciation (depreciation)

4,226,062

32,867,102

Net increase (decrease) in net assets resulting from operations

47,233,783

64,038,116

Distributions paid to shareholders

(33,129,948

)

(25,096,277

)

Net capital share transactions

9,991,716

5,199,932

Total increase (decrease) in net assets

24,095,551

44,141,771

Net assets:

Beginning of year

328,976,539

284,834,768

End of year

$353,072,090

$328,976,539

Refer to the notes to financial statements.

The Growth Fund of America

12


Notes to financial statements

1. Organization


The Growth Fund of America (the “fund”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end, diversified management investment company. The fund seeks to provide growth of capital.

The fund has 18 share classes consisting of five retail share classes (Classes A, C, F-1, F-2 and F-3), five 529 college savings plan share classes (Classes 529-A, 529-C, 529-E, 529-F-2 and 529-F-3) and eight retirement plan share classes (Classes R-1, R-2, R-2E, R-3, R-4, R-5E, R-5 and R-6). The 529 college savings plan share classes can be used to save for college education. The retirement plan share classes are generally offered only through eligible employer-sponsored retirement plans. The fund’s share classes are described further in the following table: 

Share class

Initial sales charge

Contingent deferred sales

charge upon redemption

Conversion feature

Classes A and 529-A

Up to 5.75% for

Class A; up to 3.50% for

Class 529-A

None (except 1.00% for certain

redemptions within 18 months of purchase

without an initial sales charge)

None

Classes C and 529-C

None

1.00% for redemptions within one year of

purchase

Class C converts to Class A

after eight years and Class 529-C

converts to Class 529-A after five years

Class 529-E

None

None

None

Classes F-1, F-2, F-3,

529-F-2 and 529-F-3

None

None

None

Classes R-1, R-2, R-2E, R-3, R-4,

R-5E, R-5 and R-6

None

None

None

Holders of all share classes have equal pro rata rights to the assets, dividends and liquidation proceeds of the fund. Each share class has identical voting rights, except for the exclusive right to vote on matters affecting only its class. Share classes have different fees and expenses (“class-specific fees and expenses”), primarily due to different arrangements for distribution, transfer agent and administrative services. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different per-share dividends by each share class.

2. Significant accounting policies


The fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board ("FASB"). The fund’s financial statements have been prepared to comply with U.S. generally accepted accounting principles (“U.S. GAAP“). These principles require the fund’s investment adviser to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements. The fund follows the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.

Operating segments — The fund represents a single operating segment as the operating results of the fund are monitored as a whole and its long-term asset allocation is determined in accordance with the terms of its prospectus, based on defined investment objectives that are executed by the fund’s portfolio management team. A senior executive team comprised of the fund’s Principal Executive Officer and Principal Financial Officer, serves as the fund’s chief operating decision maker (“CODM”), who act in accordance with Board of Trustees reviews and approvals. The CODM uses financial information, such as changes in net assets from operations, changes in net assets from fund share transactions, and income and expense ratios, consistent with that presented within the accompanying financial statements and financial highlights to assess the fund’s profits and losses and to make resource allocation decisions. Segment assets are reflected in the statement of assets and liabilities as net assets, which consists primarily of investment securities, at value, and significant segment expenses are listed in the accompanying statement of operations.

13

The Growth Fund of America


Security transactions and related investment income — Security transactions are recorded by the fund as of the date the trades are executed with brokers. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. In the event a security is purchased with a delayed payment date, the fund will segregate liquid assets sufficient to meet its payment obligations. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.

Class allocations — Income, fees and expenses (other than class-specific fees and expenses), realized gains and losses and unrealized appreciation and depreciation are allocated daily among the various share classes based on their relative net assets. Class-specific fees and expenses, such as distribution, transfer agent and administrative services, are charged directly to the respective share class.

Distributions paid to shareholders — Income dividends and capital gain distributions are recorded on the ex-dividend date.

Currency translation — Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date. Purchases and sales of investment securities and income and expenses are translated into U.S. dollars at the exchange rates on the dates of such transactions. The effects of changes in exchange rates on investment securities are included with the net realized gain or loss and net unrealized appreciation or depreciation on investments in the fund’s statement of operations. The realized gain or loss and unrealized appreciation or depreciation resulting from all other transactions denominated in currencies other than U.S. dollars are disclosed separately.

3. Valuation


Capital Research and Management Company (“CRMC”), the fund’s investment adviser, values the fund’s investments at fair value as defined by U.S. GAAP. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open.

Methods and inputs — The fund’s investment adviser uses the following methods and inputs to establish the fair value of the fund’s assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.

Equity securities, including depositary receipts, are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades.

Fixed-income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the fund is authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income security. 

Fixed-income class

Examples of standard inputs

All

Benchmark yields, transactions, bids, offers, quotations from dealers and

trading systems, new issues, spreads and other relationships observed in

the markets among comparable securities; and proprietary pricing models

such as yield measures calculated using factors such as cash flows, financial

or collateral performance and other reference data (collectively referred to

as “standard inputs”)

Corporate bonds, notes & loans; convertible securities

Standard inputs and underlying equity of the issuer

Bonds & notes of governments & government agencies

Standard inputs and interest rate volatilities

Mortgage-backed; asset-backed obligations

Standard inputs and cash flows, prepayment information, default rates,

delinquency and loss assumptions, collateral characteristics, credit

enhancements and specific deal information

Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund’s investment adviser. The Capital Group Central Cash Fund (“CCF”), a fund within the Capital Group Central Fund Series (“Central Funds“), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF’s portfolio securities. The underlying securities are valued based on the policies and procedures in CCF’s statement of additional information.

The Growth Fund of America

14


Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by the fund’s investment adviser and approved by the board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.

Processes and structure — The fund’s board of trustees has designated the fund’s 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 fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.

Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The fund’s valuation levels as of August 31, 2026, were as follows (dollars in thousands): 

Investment securities

Level 1

Level 2

Level 3

Total

Assets:

Common stocks:

Information technology

$130,553,946

$—

$1,187,657

$131,741,603

Communication services

44,037,180

—

31,239

44,068,419

Consumer discretionary

42,274,069

—

—

42,274,069

Health care

35,208,861

—

—

35,208,861

Industrials

31,458,320

—

—

31,458,320

Financials

24,491,910

—

—

24,491,910

Materials

7,722,598

—

—

7,722,598

Consumer staples

5,469,502

553,801

—

6,023,303

Energy

5,414,952

—

—

5,414,952

Real estate

3,379,382

—

—

3,379,382

Utilities

1,898,249

—

—

1,898,249

Preferred securities

2,153,471

—

8,559,517

10,712,988

Rights & warrants

—

—

—

*

—

*

Convertible stocks

—

—

972,511

972,511

Convertible bonds & notes

—

73,096

—

73,096

Short-term securities

7,547,290

—

—

7,547,290

Total

$341,609,730

$626,897

$10,750,924

$352,987,551

*

Amount less than one thousand.

15

The Growth Fund of America


The following table reconciles the valuation of the fund’s Level 3 investment securities and related transactions for the year ended August 31, 2026 (dollars in thousands): 

Common stocks

Preferred securities

Rights & warrants

Convertible stocks

Total

Beginning value at 9/1/2025

$162,596

$1,309,707

$444,205

$2,978

$1,919,486

Transfers into level 31

—

—

—

—

—

Purchases

717,920

2,173,324

16,066

438,313

3,345,623

Sales

(7

)

(192,482

)

(193,748

)

—

2

(386,237

)

Net realized gain (loss)3

(82,993

)

88,032

—

(45,346

)

(40,307

)

Unrealized appreciation (depreciation)3

471,371

5,180,936

(266,523

)

576,566

5,962,350

Transfers out of level 31

(49,991

)

—

—

—

(49,991

)

Ending value at 8/31/2026

$1,218,896

$8,559,517

—

2

$972,511

$10,750,924

Net unrealized appreciation

(depreciation) during the period

on level 3 investment securities

held at 8/31/2026

$426,026

$5,185,515

—

$534,199

$6,145,740

1

Transfers into or out of Level 3 are based on the beginning market value of the quarter in which they occurred. These transfers are the result of changes in the availability of pricing sources and/or in the observability of significant inputs used in valuing the securities.

2

Amount less than one thousand.

3

Net realized gain (loss) and unrealized appreciation (depreciation) are included in the related amounts on investments in the fund’s statement of operations.

Unobservable inputs — Valuation of the fund’s Level 3 securities is 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 following table provides additional information used by the fund’s investment adviser to fair value the fund’s Level 3 securities (dollars in thousands): 

Value at

8/31/2026

Valuation

techniques

Unobservable

inputs

Range

(if applicable)

Weighted

average1

Impact to

valuation from

an increase in

input2

Common stocks

$1,218,896

Market

comparables

EV/Sales multiple

4.5x - 30.2x

26.3x

Increase

EV/Gross Profit multiple

20.0x

20.0x

Increase

Preferred securities

$8,559,517

Market

comparables

EV/Sales multiple

5.7x - 33.5x

22.3x

Increase

EV/Gross Profit multiple

7.0x - 20.0x

19.6x

Increase

Transaction price

Not applicable

Not applicable

Not applicable

Premium to transaction price

15%

15%

Increase

Transaction

Transaction price

Not applicable

Not applicable

Not applicable

Rights & warrants

$—

3

Estimated recovery

value

Expected proceeds

Not applicable

Not applicable

Not applicable

Convertible stocks

$972,511

Market

comparables

EV/Sales multiple

30.2x

30.2x

Increase

$10,750,924

1

Weighted average is by relative fair value.

2

This column represents the directional change in fair value of the Level 3 securities that would result in an increase from the corresponding input. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.

3

Amount less than one thousand.
 

Key to abbreviations

EV = Enterprise value

The Growth Fund of America

16


4. Risk factors


Investing in the fund may involve certain risks including, but not limited to, those described below.

Market conditions — The prices of, and the income generated by, the common stocks and other securities held by the fund may decline — sometimes rapidly or unpredictably — due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease), bank failures and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund’s investments may be negatively affected by developments in other countries and regions.

Issuer risks — The prices of, and the income generated by, securities held by the fund may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer’s goods or services, poor management performance, major litigation, investigations or other controversies related to the issuer, changes in the issuer’s financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

Investing in growth-oriented stocks — Growth-oriented common stocks and other equity-type securities (such as preferred stocks, convertible preferred stocks and convertible bonds) may involve larger price swings and greater potential for loss than other types of investments.

Investing outside the U.S. — Securities of issuers domiciled outside the U.S. or with significant operations or revenues outside the U.S. and securities tied economically to countries outside the U.S. may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Issuers of these securities may be more susceptible to actions of foreign governments, which could adversely impact the value of these securities. Securities markets in certain countries may be more volatile and/or less liquid than those in the U.S. Investments outside the U.S. may also be subject to different regulatory, legal, auditing, financial reporting, accounting and recordkeeping standards and practices, and may be more difficult to value, than those in the U.S. In addition, the value of investments outside the U.S. may be reduced by foreign taxes. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund’s portfolio.

Management — The investment adviser to the fund actively manages the fund’s investments. Consequently, the fund is subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results. This could cause the fund to lose value or its investment results to lag relevant benchmarks or other funds with similar objectives.

17

The Growth Fund of America


5. Certain investment techniques


Securities lending — The fund has entered into securities lending transactions in which the fund earns income by lending investment securities to brokers, dealers or other institutions. Each transaction involves three parties: the fund, acting as the lender of the securities, a borrower, and a lending agent that acts as an intermediary.

Securities lending transactions are entered into by the fund under a securities lending agent agreement with the lending agent. The lending agent facilitates the exchange of securities between the fund and approved borrowers, ensures that securities loans are properly coordinated and documented, marks-to-market the value of collateral daily, secures additional collateral from a borrower if it falls below preset terms, and may reinvest cash collateral on behalf of the fund according to agreed parameters. The lending agent provides indemnification to the fund against losses resulting from a borrower default. Although risk is mitigated by the collateral and indemnification, the fund could experience a delay in recovering its securities and a potential loss of income or value if a borrower fails to return securities, collateral investments decline in value or the lending agent fails to perform.

The borrower is required to post highly liquid assets, such as cash or U.S. government securities, as collateral for the loan in an amount at least equal to the value of the securities loaned. Investments made with cash collateral are recognized as assets in the fund’s investment portfolio. The same amount is recorded as a liability in the fund’s statement of assets and liabilities. While securities are on loan, the fund will continue to receive the equivalent of the interest, dividends or other distributions paid by the issuer, as well as a portion of the interest on the investment of the collateral. Additionally, although the fund does not have the right to vote on securities while they are on loan, the fund has a right to consent on corporate actions and a right to recall loaned securities to vote. A borrower is obligated to return loaned securities at the conclusion of a loan or, during the pendency of a loan, on demand from the fund.

As of August 31, 2026, the total value of securities on loan was $588,058,000, and the total value of collateral received was $602,314,000. Collateral received includes cash of $381,635,000 and U.S. government securities of $220,679,000. Investment securities purchased from cash collateral are disclosed in the fund’s investment portfolio as short-term securities. Securities received as collateral are not recognized as fund assets. The contractual maturity of cash collateral received under the securities lending agreement is classified as overnight and continuous.

6. Taxation and distributions


Federal income taxation — The fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to regulated investment companies and intends to distribute substantially all of its net taxable income and net capital gains each year. The fund is not subject to income taxes to the extent such distributions are made. Therefore, no federal income tax provision is required.

As of and during the year ended August 31, 2026, the fund did not have a liability for any unrecognized tax benefits. The fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the statement of operations. During the year, the fund did not incur any significant interest or penalties.

The fund’s tax returns are generally not subject to examination by federal, state and, if applicable, non-U.S. tax authorities after the expiration of each jurisdiction’s statute of limitations, which is typically three years after the date of filing but can be extended in certain jurisdictions.

Non-U.S. taxation — Dividend and interest income are recorded net of non-U.S. taxes paid. The fund may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. As a result of rulings from European courts, the fund filed for additional reclaims related to prior years ("EU reclaims"). These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. Gains realized by the fund on the sale of securities in certain countries, if any, may be subject to non-U.S. taxes. The fund generally records an estimated deferred tax liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.

The Growth Fund of America

18


Distributions — Distributions determined on a tax basis may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as currency gains and losses; short-term capital gains and losses; capital losses related to sales of certain securities within 30 days of purchase and unrealized appreciation of certain investments in securities outside the U.S.. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the fund for financial reporting purposes. The fund may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.

During the year ended August 31, 2026, the fund reclassified $1,591,495,000 from total distributable earnings to capital paid in on shares of beneficial interest to align financial reporting with tax reporting.

As of August 31, 2026, the tax basis components of distributable earnings, unrealized appreciation (depreciation) and cost of investments were as follows (dollars in thousands): 

Undistributed ordinary income

$621,018

Undistributed long-term capital gains

34,444,968

Post-October capital loss deferral1

(2,622,600

)

Gross unrealized appreciation on investments

194,363,240

Gross unrealized depreciation on investments

(4,086,220

)

Net unrealized appreciation (depreciation) on investments

190,277,020

Cost of investments

162,720,402

1

This deferral is considered incurred in the subsequent year.

Distributions paid were characterized for tax purposes as follows (dollars in thousands): 

Year ended August 31, 2026

Year ended August 31, 2025

Share class

Ordinary

income

Long-term

capital gains

Total

distributions

paid

Ordinary

income

Long-term

capital gains

Total

distributions

paid

Class A

$462,035

$16,102,067

$16,564,102

$582,025

$11,979,977

$12,562,002

Class C

—

449,298

449,298

—

353,728

353,728

Class T2

—

3

2

2

—

3

1

1

Class F-1

15,485

674,552

690,037

21,952

524,777

546,729

Class F-2

220,665

4,547,659

4,768,324

238,387

3,253,062

3,491,449

Class F-3

94,830

1,610,732

1,705,562

97,838

1,145,739

1,243,577

Class 529-A

43,414

1,644,159

1,687,573

55,218

1,222,926

1,278,144

Class 529-C

—

38,174

38,174

—

31,185

31,185

Class 529-E

62

43,097

43,159

534

33,665

34,199

Class 529-T2

—

3

3

3

—

3

2

2

Class 529-F-12

—

3

2

2

—

3

1

1

Class 529-F-2

8,855

176,141

184,996

8,467

114,147

122,614

Class 529-F-3

1

19

20

1

17

18

Class R-1

—

37,615

37,615

—

29,340

29,340

Class R-2

—

286,789

286,789

—

211,545

211,545

Class R-2E

—

33,113

33,113

—

23,197

23,197

Class R-3

—

561,633

561,633

4,184

422,357

426,541

Class R-4

12,532

522,788

535,320

18,029

413,798

431,827

Class R-5E

6,553

145,424

151,977

6,532

100,313

106,845

Class R-5

15,078

281,306

296,384

17,434

220,636

238,070

Class R-6

282,723

4,813,142

5,095,865

311,284

3,653,979

3,965,263

Total

$1,162,233

$31,967,715

$33,129,948

$1,361,885

$23,734,392

$25,096,277

2

Effective 6/26/2026, Class T, 529-T, and 529-F-1 shares were closed and deregistered.

3

Amount less than one thousand.

19

The Growth Fund of America


7. Fees and transactions with related parties


CRMC, the fund’s investment adviser, is the parent company of Capital Client Group, Inc. (“CCG”), the principal underwriter of the fund’s shares, and American Funds Service Company® (“AFS”), the fund’s transfer agent. CRMC, CCG and AFS are considered related parties to the fund.

Investment advisory services — The fund has an investment advisory and service agreement with CRMC that provides for monthly fees accrued daily. These fees are based on a series of decreasing annual rates beginning with 0.500% on the first $1 billion of daily net assets and decreasing to 0.225% on such assets in excess of $341 billion. For the year ended August 31, 2026, the investment advisory services fees were $847,776,000, which were equivalent to an annualized rate of 0.250% of average daily net assets.

Class-specific fees and expenses — Expenses that are specific to individual share classes are accrued directly to the respective share class. The principal class-specific fees and expenses are further described below:

Distribution services — The fund has plans of distribution for all share classes, except Class F-2, F-3, 529-F-2, 529-F-3, R-5E, R-5 and R-6 shares. Under the plans, the board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares and service existing accounts. The plans provide for payments, based on an annualized percentage of average daily net assets, ranging from 0.25% to 1.00% as noted in this section. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans. All share classes with a plan may use up to 0.25% of average daily net assets to pay service fees, or to compensate CCG for paying service fees, to firms that have entered into agreements with CCG to provide certain shareholder services. The remaining amounts available to be paid under each plan are paid to dealers to compensate them for their sales activities. 

Share class

Currently approved limits

Plan limits

Class A

0.25

%

0.25

%

Class 529-A

0.25

0.50

Classes C, 529-C and R-1

1.00

1.00

Class R-2

0.75

1.00

Class R-2E

0.60

0.85

Classes 529-E and R-3

0.50

0.75

Classes F-1 and R-4

0.25

0.50

For Class A and 529-A shares, distribution-related expenses include the reimbursement of dealer and wholesaler commissions paid by CCG for certain shares sold without a sales charge. These share classes reimburse CCG for amounts billed within the prior 15 months but only to the extent that the overall annual expense limits are not exceeded. As of August 31, 2026, there were no unreimbursed expenses subject to reimbursement for Class A or 529-A shares.

Transfer agent services — The fund has a shareholder services agreement with AFS under which the fund compensates AFS for providing transfer agent services to each of the fund’s share classes. These services include recordkeeping, shareholder communications and transaction processing. Under this agreement, the fund also pays sub-transfer agency fees to AFS. These fees are paid by AFS to third parties for performing transfer agent services on behalf of fund shareholders.

Administrative services — The fund has an administrative services agreement with CRMC under which the fund compensates CRMC for providing administrative services to all share classes. Administrative services are provided by CRMC and its affiliates to help assist third parties providing non-distribution services to fund shareholders. These services include providing in-depth information on the fund and market developments that impact fund investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to fund shareholders. The agreement provides the fund the ability to charge an administrative services fee at the annual rate of 0.05% of the average daily net assets attributable to each share class of the fund. Currently the fund pays CRMC an administrative services fee at the annual rate of 0.03% of the average daily net assets attributable to each share class of the fund for CRMC’s provision of administrative services.

The Growth Fund of America

20


529 plan services — Each 529 share class is subject to service fees to compensate the Commonwealth Savers Plan (formerly, Virginia529) for its oversight and administration of the CollegeAmerica 529 college savings plan. The fees are based on the combined net assets invested in Class 529 and ABLE shares of the American Funds. Class ABLE shares are offered on other American Funds by Commonwealth Savers Plan through ABLEAmerica®, a tax-advantaged savings program for individuals with disabilities. Commonwealth Savers Plan is not considered a related party to the fund.

The quarterly fees are based on a series of decreasing annual rates beginning with 0.09% on the first $20 billion of the combined net assets invested in the American Funds and decreasing to 0.03% on such assets in excess of $75 billion. The fees for any given calendar quarter are accrued and calculated on the basis of the average net assets of Class 529 and ABLE shares of the American Funds for the last month of the prior calendar quarter. For the year ended August 31, 2026, the 529 plan services fees were $10,235,000, which were equivalent to 0.051% of the average daily net assets of each 529 share class.

For the year ended August 31, 2026, class-specific expenses under the agreements were as follows (dollars in thousands): 

Share class

Distribution

services

Transfer agent

services

Administrative

services

529 plan

services

Class A

$411,002

$97,546

$51,232

Not applicable

Class C

39,749

2,283

1,202

Not applicable

Class T*

—

—

†

—

†

Not applicable

Class F-1

17,246

8,122

2,110

Not applicable

Class F-2

Not applicable

52,601

14,546

Not applicable

Class F-3

Not applicable

218

5,155

Not applicable

Class 529-A

39,023

9,080

5,179

$8,843

Class 529-C

3,483

185

105

179

Class 529-E

2,202

151

132

226

Class 529-T*

—

—

†

—

†

—

†

Class 529-F-1*

—

—

†

—

†

—

†

Class 529-F-2

Not applicable

791

578

987

Class 529-F-3

Not applicable

—

†

—

†

—

†

Class R-1

3,450

312

104

Not applicable

Class R-2

19,883

8,986

795

Not applicable

Class R-2E

2,215

716

111

Not applicable

Class R-3

28,536

8,273

1,713

Not applicable

Class R-4

13,746

5,303

1,651

Not applicable

Class R-5E

Not applicable

2,266

467

Not applicable

Class R-5

Not applicable

1,509

871

Not applicable

Class R-6

Not applicable

653

15,625

Not applicable

Total class-specific expenses

$580,535

$198,995

$101,576

$10,235

*

Effective 6/26/2026, Class T, 529-T, and 529-F-1 shares were closed and deregistered.

†

Amount less than one thousand.

Trustees’ deferred compensation — Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the fund, are treated as if invested in shares of the fund or other Capital Group Funds. These amounts represent general, unsecured liabilities of the fund and vary according to the total returns of the selected funds. Trustees’ compensation of $2,341,000 in the fund’s statement of operations reflects $830,000 in current fees (either paid in cash or deferred) and a net increase of $1,511,000 in the value of the deferred amounts.

Affiliated officers and trustees — Officers and certain trustees of the fund are or may be considered to be affiliated with CRMC, CCG and AFS. No affiliated officers or trustees received any compensation directly from the fund.

Investment in CCF — The fund holds shares of CCF, an institutional prime money market fund managed by CRMC. CCF invests in high-quality, short-term money market instruments. CCF is used as the primary investment vehicle for the fund’s short-term instruments. CCF shares are only available for purchase by CRMC, its affiliates, and other funds managed by CRMC or its affiliates, and are not available to the public. CRMC does not receive an investment advisory services fee from CCF.

21

The Growth Fund of America


Security transactions with related funds — The fund purchased investment securities from, and sold investment securities to, other funds managed by CRMC (or funds managed by certain affiliates of CRMC) under procedures adopted by the fund’s board of trustees. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. Each transaction was executed at the current market price of the security and no brokerage commissions or fees were paid in accordance with Rule 17a-7 of the 1940 Act. During the year ended August 31, 2026, the fund engaged in such purchase and sale transactions with related funds in the amounts of $5,932,502,000 and $5,433,391,000, respectively, which generated $795,798,000 of net realized gains from such sales.

Interfund lending — Pursuant to an exemptive order issued by the SEC, the fund, along with other CRMC-managed funds (or funds managed by certain affiliates of CRMC), may participate in an interfund lending program. The program provides an alternate credit facility that permits the funds to lend or borrow cash for temporary purposes directly to or from one another, subject to the conditions of the exemptive order. The fund did not lend or borrow cash through the interfund lending program at any time during the year ended August 31, 2026.

8. Indemnifications


The fund’s organizational documents provide board members and officers with indemnification against certain liabilities or expenses in connection with the performance of their duties to the fund. In the normal course of business, the fund may also enter into contracts that provide general indemnifications. The fund’s maximum exposure under these arrangements is unknown since it is dependent on future claims that may be made against the fund. The risk of material loss from such claims is considered remote. Insurance policies are also available to the fund’s board members and officers.

9. Capital share transactions


Capital share transactions in the fund were as follows (dollars and shares in thousands):

Sales1

Reinvestments of

distributions

Repurchases1

Net increase

(decrease)

Share class

Amount

Shares

Amount

Shares

Amount

Shares

Amount

Shares

Year ended August 31, 2026

Class A

$8,045,662

95,989

$16,296,361

208,154

$(20,852,308

)

(249,414

)

$3,489,715

54,729

Class C

603,242

8,582

448,222

6,843

(1,158,792

)

(16,467

)

(107,328

)

(1,042

)

Class T2

—

—

—

—

(19

)

—

3

(19

)

—

3

Class F-1

239,398

2,883

682,676

8,811

(999,295

)

(12,081

)

(77,221

)

(387

)

Class F-2

9,014,644

108,955

4,633,611

59,443

(10,773,063

)

(129,820

)

2,875,192

38,578

Class F-3

3,181,602

37,891

1,669,714

21,325

(3,542,907

)

(42,585

)

1,308,409

16,631

Class 529-A

1,436,793

17,410

1,687,065

21,978

(2,578,917

)

(31,125

)

544,941

8,263

Class 529-C

91,005

1,289

38,166

582

(124,792

)

(1,756

)

4,379

115

Class 529-E

31,679

391

43,141

574

(80,223

)

(987

)

(5,403

)

(22

)

Class 529-T2

—

—

3

—

3

(38

)

—

3

(35

)

—

3

Class 529-F-12

—

—

2

—

3

(21

)

—

3

(19

)

—

3

Class 529-F-2

335,739

3,998

184,958

2,368

(274,269

)

(3,252

)

246,428

3,114

Class 529-F-3

23

—

3

20

—

3

(76

)

(1

)

(33

)

(1

)

Class R-1

36,797

507

37,576

559

(76,078

)

(1,048

)

(1,705

)

18

Class R-2

495,814

6,631

286,570

4,180

(684,249

)

(9,310

)

98,135

1,501

Class R-2E

139,672

1,772

33,113

444

(100,788

)

(1,255

)

71,997

961

Class R-3

894,688

11,021

560,406

7,435

(1,422,765

)

(17,611

)

32,329

845

Class R-4

1,798,913

20,951

534,963

6,930

(1,252,386

)

(15,104

)

1,081,490

12,777

Class R-5E

341,119

4,094

151,966

1,971

(302,444

)

(3,643

)

190,641

2,422

Class R-5

216,260

2,575

295,662

3,779

(1,787,426

)

(20,492

)

(1,275,504

)

(14,138

)

Class R-6

6,271,881

75,446

5,063,916

64,599

(9,820,470

)

(116,027

)

1,515,327

24,018

Total net increase

(decrease)

$33,174,931

400,385

$32,648,111

419,975

$(55,831,326

)

(671,978

)

$9,991,716

148,382

Refer to the end of the table(s) for footnote(s).

The Growth Fund of America

22


Sales1

Reinvestments of

distributions

Repurchases1

Net increase

(decrease)

Share class

Amount

Shares

Amount

Shares

Amount

Shares

Amount

Shares

Year ended August 31, 2025

Class A

$8,938,103

116,460

$12,369,423

165,190

$(17,648,213

)

(229,655

)

$3,659,313

51,995

Class C

603,326

9,149

352,739

5,499

(1,080,241

)

(16,412

)

(124,176

)

(1,764

)

Class T

—

—

—

—

—

—

—

—

Class F-1

198,839

2,585

540,727

7,289

(881,641

)

(11,534

)

(142,075

)

(1,660

)

Class F-2

7,479,696

97,915

3,391,306

45,472

(8,849,966

)

(114,303

)

2,021,036

29,084

Class F-3

2,583,987

33,472

1,215,723

16,236

(2,880,194

)

(37,332

)

919,516

12,376

Class 529-A

1,450,430

19,107

1,277,718

17,368

(2,372,131

)

(30,956

)

356,017

5,519

Class 529-C

79,072

1,194

31,179

485

(145,543

)

(2,193

)

(35,292

)

(514

)

Class 529-E

34,208

460

34,191

473

(82,821

)

(1,092

)

(14,422

)

(159

)

Class 529-T

—

—

2

—

3

—

—

2

—

3

Class 529-F-1

—

—

1

—

3

—

—

1

—

3

Class 529-F-2

345,491

4,473

122,528

1,640

(219,719

)

(2,826

)

248,300

3,287

Class 529-F-3

176

3

19

—

3

(207

)

(3

)

(12

)

—

3

Class R-1

44,584

659

29,334

446

(84,403

)

(1,236

)

(10,485

)

(131

)

Class R-2

384,468

5,612

211,391

3,164

(620,419

)

(9,049

)

(24,560

)

(273

)

Class R-2E

52,647

707

23,197

323

(55,711

)

(758

)

20,133

272

Class R-3

731,566

9,859

425,472

5,877

(1,235,869

)

(16,630

)

(78,831

)

(894

)

Class R-4

560,865

7,375

431,459

5,836

(1,248,223

)

(16,418

)

(255,899

)

(3,207

)

Class R-5E

269,033

3,552

106,807

1,446

(516,966

)

(6,722

)

(141,126

)

(1,724

)

Class R-5

262,828

3,406

237,383

3,173

(668,763

)

(8,577

)

(168,552

)

(1,998

)

Class R-6

4,378,585

57,617

3,944,323

52,619

(9,351,864

)

(120,540

)

(1,028,956

)

(10,304

)

Total net increase

(decrease)

$28,397,904

373,605

$24,744,922

332,536

$(47,942,894

)

(626,236

)

$5,199,932

79,905

1

Includes exchanges between share classes of the fund.

2

Effective 6/26/2026, Class T, 529-T, and 529-F-1 shares were closed and deregistered.

3

Amount less than one thousand.

10. Investment transactions


The fund engaged in purchases and sales of investment securities, excluding in-kind transactions, short-term securities and U.S. government obligations, if any, of $130,534,545,000 and $151,630,567,000, respectively, during the year ended August 31, 2026.

23

The Growth Fund of America


Financial highlights

Income (loss) from

investment operations1

Dividends and distributions

Year ended

Net asset

value,

beginning

of year

Net

investment

income

(loss)

Net gains

(losses) on

securities

(both

realized and

unrealized)

Total from

investment

operations

Dividends

(from net

investment

income)

Distributions

(from capital

gains)

Total

dividends

and

distributions

Net asset

value, end

of year

Total

return2

Net assets,

end of year

(in millions)

Ratio of

expenses to

average

net assets3

Ratio of

net income

(loss) to

average

net assets

Class A:

8/31/2026

$85.28

$.10

$11.43

$11.53

$(.24

)

$(8.36

)

$(8.60

)

$88.21

14.80

%

$177,716

.59

%

.11

%

8/31/2025

75.37

.17

16.43

16.60

(.31

)

(6.38

)

(6.69

)

85.28

23.26

167,143

.60

.22

8/31/2024

62.30

.27

17.47

17.74

(.37

)

(4.30

)

(4.67

)

75.37

30.05

143,793

.61

.39

8/31/2023

55.10

.34

8.87

9.21

(.17

)

(1.84

)

(2.01

)

62.30

17.60

116,384

.63

.61

8/31/2022

78.42

.15

(17.40

)

(17.25

)

(.06

)

(6.01

)

(6.07

)

55.10

(23.78

)

104,664

.60

.23

Class C:

8/31/2026

72.66

(.45

)

9.57

9.12

—

(8.36

)

(8.36

)

73.42

13.95

4,008

1.34

(.64

)

8/31/2025

65.30

(.35

)

14.09

13.74

—

(6.38

)

(6.38

)

72.66

22.34

4,043

1.35

(.53

)

8/31/2024

54.60

(.21

)

15.21

15.00

—

(4.30

)

(4.30

)

65.30

29.09

3,748

1.36

(.35

)

8/31/2023

48.73

(.07

)

7.78

7.71

—

4

(1.84

)

(1.84

)

54.60

16.72

3,305

1.38

(.14

)

8/31/2022

70.50

(.32

)

(15.44

)

(15.76

)

—

(6.01

)

(6.01

)

48.73

(24.36

)

3,252

1.36

(.53

)

Class F-1:

8/31/2026

84.45

.04

11.32

11.36

(.19

)

(8.36

)

(8.55

)

87.26

14.74

7,208

.65

.05

8/31/2025

74.69

.13

16.28

16.41

(.27

)

(6.38

)

(6.65

)

84.45

23.20

7,009

.65

.17

8/31/2024

61.78

.23

17.32

17.55

(.34

)

(4.30

)

(4.64

)

74.69

29.98

6,323

.66

.35

8/31/2023

54.64

.32

8.79

9.11

(.13

)

(1.84

)

(1.97

)

61.78

17.57

5,566

.66

.58

8/31/2022

77.79

.11

(17.25

)

(17.14

)

—

(6.01

)

(6.01

)

54.64

(23.82

)

5,330

.66

.16

Class F-2:

8/31/2026

85.06

.25

11.40

11.65

(.41

)

(8.36

)

(8.77

)

87.94

15.02

51,312

.40

.30

8/31/2025

75.19

.32

16.40

16.72

(.47

)

(6.38

)

(6.85

)

85.06

23.52

46,348

.40

.42

8/31/2024

62.17

.41

17.42

17.83

(.51

)

(4.30

)

(4.81

)

75.19

30.32

38,785

.40

.61

8/31/2023

55.00

.46

8.84

9.30

(.29

)

(1.84

)

(2.13

)

62.17

17.87

31,088

.41

.84

8/31/2022

78.29

.29

(17.35

)

(17.06

)

(.22

)

(6.01

)

(6.23

)

55.00

(23.62

)

28,563

.40

.43

Class F-3:

8/31/2026

85.46

.34

11.46

11.80

(.49

)

(8.36

)

(8.85

)

88.41

15.15

18,414

.29

.41

8/31/2025

75.51

.41

16.46

16.87

(.54

)

(6.38

)

(6.92

)

85.46

23.64

16,379

.29

.53

8/31/2024

62.41

.48

17.49

17.97

(.57

)

(4.30

)

(4.87

)

75.51

30.46

13,538

.29

.71

8/31/2023

55.22

.52

8.87

9.39

(.36

)

(1.84

)

(2.20

)

62.41

17.99

10,820

.30

.94

8/31/2022

78.57

.36

(17.40

)

(17.04

)

(.30

)

(6.01

)

(6.31

)

55.22

(23.53

)

8,922

.29

.54

Class 529-A:

8/31/2026

83.77

.07

11.21

11.28

(.22

)

(8.36

)

(8.58

)

86.47

14.77

17,963

.62

.08

8/31/2025

74.14

.15

16.15

16.30

(.29

)

(6.38

)

(6.67

)

83.77

23.23

16,710

.62

.19

8/31/2024

61.36

.24

17.19

17.43

(.35

)

(4.30

)

(4.65

)

74.14

30.00

14,380

.65

.36

8/31/2023

54.31

.31

8.73

9.04

(.15

)

(1.84

)

(1.99

)

61.36

17.55

11,697

.67

.58

8/31/2022

77.37

.13

(17.14

)

(17.01

)

(.04

)

(6.01

)

(6.05

)

54.31

(23.79

)

10,549

.64

.20

Class 529-C:

8/31/2026

72.75

(.49

)

9.58

9.09

—

(8.36

)

(8.36

)

73.48

13.88

356

1.39

(.69

)

8/31/2025

65.40

(.38

)

14.11

13.73

—

(6.38

)

(6.38

)

72.75

22.29

345

1.40

(.57

)

8/31/2024

54.70

(.23

)

15.23

15.00

—

(4.30

)

(4.30

)

65.40

29.03

343

1.40

(.39

)

8/31/2023

48.85

(.10

)

7.79

7.69

—

(1.84

)

(1.84

)

54.70

16.64

325

1.44

(.20

)

8/31/2022

70.68

(.35

)

(15.47

)

(15.82

)

—

(6.01

)

(6.01

)

48.85

(24.39

)

340

1.41

(.59

)

Refer to the end of the table(s) for footnote(s).

The Growth Fund of America

24


Financial highlights (continued)

Income (loss) from

investment operations1

Dividends and distributions

Year ended

Net asset

value,

beginning

of year

Net

investment

income

(loss)

Net gains

(losses) on

securities

(both

realized and

unrealized)

Total from

investment

operations

Dividends

(from net

investment

income)

Distributions

(from capital

gains)

Total

dividends

and

distributions

Net asset

value, end

of year

Total

return2

Net assets,

end of year

(in millions)

Ratio of

expenses to

average

net assets3

Ratio of

net income

(loss) to

average

net assets

Class 529-E:

8/31/2026

$82.12

$(.14

)

$10.97

$10.83

$(.01

)

$(8.36

)

$(8.37

)

$84.58

14.46

%

$450

.87

%

(.17

)%

8/31/2025

72.80

(.04

)

15.84

15.80

(.10

)

(6.38

)

(6.48

)

82.12

22.92

439

.88

(.06

)

8/31/2024

60.33

.08

16.90

16.98

(.21

)

(4.30

)

(4.51

)

72.80

29.72

401

.88

.12

8/31/2023

53.41

.18

8.59

8.77

(.01

)

(1.84

)

(1.85

)

60.33

17.26

335

.91

.33

8/31/2022

76.33

(.04

)

(16.87

)

(16.91

)

—

(6.01

)

(6.01

)

53.41

(23.98

)

311

.88

(.05

)

Class 529-F-2:

8/31/2026

85.22

.27

11.42

11.69

(.42

)

(8.36

)

(8.78

)

88.13

15.04

2,104

.38

.32

8/31/2025

75.32

.33

16.42

16.75

(.47

)

(6.38

)

(6.85

)

85.22

23.53

1,769

.39

.43

8/31/2024

62.28

.41

17.45

17.86

(.52

)

(4.30

)

(4.82

)

75.32

30.33

1,316

.40

.60

8/31/2023

55.10

.47

8.85

9.32

(.30

)

(1.84

)

(2.14

)

62.28

17.88

940

.38

.86

8/31/2022

78.40

.29

(17.37

)

(17.08

)

(.21

)

(6.01

)

(6.22

)

55.10

(23.61

)

773

.40

.44

Class 529-F-3:

8/31/2026

85.13

.31

11.39

11.70

(.43

)

(8.36

)

(8.79

)

88.04

15.08

—

5

.34

.37

8/31/2025

75.25

.36

16.41

16.77

(.51

)

(6.38

)

(6.89

)

85.13

23.59

—

5

.34

.47

8/31/2024

62.21

.39

17.48

17.87

(.53

)

(4.30

)

(4.83

)

75.25

30.39

—

5

.35

.56

8/31/2023

55.05

.48

8.85

9.33

(.33

)

(1.84

)

(2.17

)

62.21

17.93

—

5

.36

.88

8/31/2022

78.35

.32

(17.36

)

(17.04

)

(.25

)

(6.01

)

(6.26

)

55.05

(23.58

)

—

5

.35

.49

Class R-1:

8/31/2026

74.43

(.49

)

9.83

9.34

—

(8.36

)

(8.36

)

75.41

13.91

354

1.37

(.67

)

8/31/2025

66.76

(.38

)

14.43

14.05

—

(6.38

)

(6.38

)

74.43

22.32

348

1.37

(.55

)

8/31/2024

55.74

(.22

)

15.54

15.32

—

(4.30

)

(4.30

)

66.76

29.06

321

1.38

(.37

)

8/31/2023

49.71

(.07

)

7.94

7.87

—

(1.84

)

(1.84

)

55.74

16.72

280

1.38

(.14

)

8/31/2022

71.80

(.33

)

(15.75

)

(16.08

)

—

(6.01

)

(6.01

)

49.71

(24.36

)

269

1.38

(.55

)

Class R-2:

8/31/2026

75.68

(.50

)

10.00

9.50

—

(8.36

)

(8.36

)

76.82

13.89

2,709

1.38

(.68

)

8/31/2025

67.78

(.39

)

14.67

14.28

—

(6.38

)

(6.38

)

75.68

22.32

2,555

1.38

(.56

)

8/31/2024

56.54

(.23

)

15.77

15.54

—

(4.30

)

(4.30

)

67.78

29.05

2,307

1.38

(.37

)

8/31/2023

50.40

(.08

)

8.06

7.98

—

(1.84

)

(1.84

)

56.54

16.71

1,945

1.39

(.15

)

8/31/2022

72.72

(.35

)

(15.96

)

(16.31

)

—

(6.01

)

(6.01

)

50.40

(24.37

)

1,805

1.40

(.57

)

Class R-2E:

8/31/2026

81.56

(.31

)

10.89

10.58

—

(8.36

)

(8.36

)

83.78

14.24

407

1.08

(.39

)

8/31/2025

72.39

(.20

)

15.75

15.55

—

(6.38

)

(6.38

)

81.56

22.67

318

1.09

(.27

)

8/31/2024

60.05

(.05

)

16.80

16.75

(.11

)

(4.30

)

(4.41

)

72.39

29.43

263

1.09

(.08

)

8/31/2023

53.25

.08

8.56

8.64

—

(1.84

)

(1.84

)

60.05

17.06

215

1.10

.14

8/31/2022

76.28

(.18

)

(16.84

)

(17.02

)

—

(6.01

)

(6.01

)

53.25

(24.15

)

190

1.10

(.27

)

Class R-3:

8/31/2026

82.27

(.19

)

11.00

10.81

—

(8.36

)

(8.36

)

84.72

14.41

5,804

.93

(.24

)

8/31/2025

72.92

(.09

)

15.88

15.79

(.06

)

(6.38

)

(6.44

)

82.27

22.87

5,566

.93

(.12

)

8/31/2024

60.44

.05

16.92

16.97

(.19

)

(4.30

)

(4.49

)

72.92

29.62

4,999

.94

.07

8/31/2023

53.51

.16

8.61

8.77

—

(1.84

)

(1.84

)

60.44

17.22

4,314

.94

.30

8/31/2022

76.50

(.08

)

(16.90

)

(16.98

)

—

(6.01

)

(6.01

)

53.51

(24.02

)

4,118

.94

(.12

)

Refer to the end of the table(s) for footnote(s).

25

The Growth Fund of America


Financial highlights (continued)

Income (loss) from

investment operations1

Dividends and distributions

Year ended

Net asset

value,

beginning

of year

Net

investment

income

(loss)

Net gains

(losses) on

securities

(both

realized and

unrealized)

Total from

investment

operations

Dividends

(from net

investment

income)

Distributions

(from capital

gains)

Total

dividends

and

distributions

Net asset

value, end

of year

Total

return2

Net assets,

end of year

(in millions)

Ratio of

expenses to

average

net assets3

Ratio of

net income

(loss) to

average

net assets

Class R-4:

8/31/2026

$84.18

$.06

$11.27

$11.33

$(.20

)

$(8.36

)

$(8.56

)

$86.95

14.75

%

$6,673

.63

%

.07

%

8/31/2025

74.47

.14

16.23

16.37

(.28

)

(6.38

)

(6.66

)

84.18

23.21

5,385

.64

.18

8/31/2024

61.59

.24

17.27

17.51

(.33

)

(4.30

)

(4.63

)

74.47

30.00

5,003

.64

.37

8/31/2023

54.47

.32

8.77

9.09

(.13

)

(1.84

)

(1.97

)

61.59

17.59

4,351

.65

.59

8/31/2022

77.58

.12

(17.20

)

(17.08

)

(.02

)

(6.01

)

(6.03

)

54.47

(23.81

)

5,093

.64

.18

Class R-5E:

8/31/2026

84.21

.22

11.27

11.49

(.38

)

(8.36

)

(8.74

)

86.96

14.97

1,671

.43

.26

8/31/2025

74.48

.30

16.23

16.53

(.42

)

(6.38

)

(6.80

)

84.21

23.47

1,414

.44

.39

8/31/2024

61.62

.38

17.26

17.64

(.48

)

(4.30

)

(4.78

)

74.48

30.27

1,379

.44

.57

8/31/2023

54.53

.43

8.77

9.20

(.27

)

(1.84

)

(2.11

)

61.62

17.82

1,171

.45

.79

8/31/2022

77.70

.25

(17.20

)

(16.95

)

(.21

)

(6.01

)

(6.22

)

54.53

(23.66

)

996

.45

.39

Class R-5:

8/31/2026

85.38

.30

11.44

11.74

(.45

)

(8.36

)

(8.81

)

88.31

15.08

1,842

.34

.36

8/31/2025

75.44

.37

16.45

16.82

(.50

)

(6.38

)

(6.88

)

85.38

23.59

2,988

.34

.48

8/31/2024

62.36

.45

17.48

17.93

(.55

)

(4.30

)

(4.85

)

75.44

30.41

2,791

.34

.67

8/31/2023

55.17

.50

8.85

9.35

(.32

)

(1.84

)

(2.16

)

62.36

17.93

2,406

.35

.90

8/31/2022

78.50

.32

(17.39

)

(17.07

)

(.25

)

(6.01

)

(6.26

)

55.17

(23.58

)

1,457

.34

.48

Class R-6:

8/31/2026

85.56

.35

11.45

11.80

(.49

)

(8.36

)

(8.85

)

88.51

15.13

54,081

.29

.41

8/31/2025

75.59

.41

16.48

16.89

(.54

)

(6.38

)

(6.92

)

85.56

23.64

50,218

.29

.53

8/31/2024

62.46

.48

17.51

17.99

(.56

)

(4.30

)

(4.86

)

75.59

30.48

45,145

.29

.72

8/31/2023

55.26

.52

8.88

9.40

(.36

)

(1.84

)

(2.20

)

62.46

17.99

40,184

.30

.94

8/31/2022

78.63

.36

(17.42

)

(17.06

)

(.30

)

(6.01

)

(6.31

)

55.26

(23.54

)

36,396

.29

.54

Year ended August 31,

20267

2025

2024

2023

2022

Portfolio turnover rate for all share classes6

39

%

32

%

25

%

31

%

30

%

1

Based on average shares outstanding.

2

Total returns exclude any applicable sales charges, including contingent deferred sales charges.

3

Ratios do not include expenses of any Central Funds. The fund indirectly bears its proportionate share of the expenses of any Central Funds.

4

Amount less than $0.01.

5

Amount less than $1 million.

6

Rates do not include the fund’s portfolio activity with respect to any Central Funds.

7

Rates exclude in-kind transactions, if any.

Refer to the notes to financial statements.

The Growth Fund of America

26


Report of Independent Registered Public Accounting Firm


To the shareholders and the Board of Trustees of The Growth Fund of America:

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statement of assets and liabilities of The Growth Fund of America (the “Fund”), including the investment portfolio, as of August 31, 2026, the related statement of operations for the year then ended, statements of changes in net assets for each of the two years in the period then ended, financial highlights for each of the five years in the period then ended, and the related notes (collectively referred to as the ”financial statements and financial highlights”). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of August 31, 2026, and the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of August 31, 2026, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Costa Mesa, California

October 14, 2026

We have served as the auditor of one or more American Funds investment companies since 1956.

27

The Growth Fund of America


Tax informationunaudited


We are required to advise you of the federal tax status of certain distributions received by shareholders during the fiscal year. The fund hereby designates the following amounts for the fund’s fiscal year ended August 31, 2026: 

Long-term capital gains

$33,558,749,000

Qualified dividend income

100%

Corporate dividends received deduction

100%

U.S. government income that may be exempt from state taxation

$96,585,000

Individual shareholders should refer to their Form 1099 or other tax information, which will be mailed in January 2027, to determine the calendar year amounts to be included on their 2026 tax returns. Shareholders should consult their tax advisors.

The Growth Fund of America

28


Changes in and disagreements with accountants


None

Matters submitted for shareholder vote


Results of special meeting of shareholders

Held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):
3,963,909,569

Total shares voting on November 25, 2025:
3,158,090,691 (79.7% of shares outstanding)

The proposal: To elect board members 

Board member

Votes for

Percent

of shares

voting for

Votes withheld

Percent

of shares

withheld

Gina F. Adams

2,761,364,498

87.4%

396,726,193

12.6%

Charles E. Andrews

3,090,828,557

97.9%

67,262,134

2.1%

Joseph J. Bonner

3,091,548,627

97.9%

66,542,064

2.1%

Michael C. Camuñez

3,089,974,842

97.8%

68,115,849

2.2%

Vanessa C. L. Chang

3,088,295,595

97.8%

69,795,096

2.2%

Cecilia V. Estolano

3,089,520,597

97.8%

68,570,094

2.2%

Bradford F. Freer

3,092,455,586

97.9%

65,635,105

2.1%

Yvonne L. Greenstreet

3,093,408,140

98.0%

64,682,551

2.0%

Martin E. Koehler

3,092,563,237

97.9%

65,527,454

2.1%

Sharon I. Meers

3,093,598,973

98.0%

64,491,718

2.0%

Pascal Millaire

3,091,203,466

97.9%

66,887,225

2.1%

William I. Miller

3,092,828,638

97.9%

65,262,053

2.1%

Anne-Marie Peterson

3,094,610,267

98.0%

63,480,424

2.0%

Josette Sheeran

3,091,098,294

97.9%

66,992,397

2.1%

Remuneration paid to directors, officers and others


Refer to the Trustees’ deferred compensation disclosure in the Notes to financial statements.

Approval of Investment Advisory and Service Agreement


Not applicable for the current reporting period due to the timing of the board’s approval of this agreement.

29

The Growth Fund of America


ITEM 8 - Changes in and Disagreements with Accountants for Open-End Management Investment Companies

None

ITEM 9 - Proxy Disclosures for Open-End Management Investment Companies

The information is included as part of the material filed under Item 7 of this Form under Matters submitted for shareholder vote.

ITEM 10 - Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies

The information is included as part of the material filed under Item 7 of this Form within the Trustees' deferred compensation disclosure in the Notes to financial statements.

ITEM 11 - Statement Regarding Basis for Approval of Investment Advisory Contract

Not applicable for the current reporting period due to the timing of the board’s approval of this agreement.

ITEM 12 - Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

ITEM 13 - Portfolio Managers of Closed-End Management Investment Companies

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

ITEM 14 - Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

ITEM 15 - Submission of Matters to a Vote of Security Holders

There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s board of trustees since the Registrant last submitted a proxy statement to its shareholders. The procedures are as follows. The Registrant has a nominating and governance committee comprised solely of persons who are not considered ‘‘interested persons’’ of the Registrant within the meaning of the Investment Company Act of 1940, as amended. The committee periodically reviews such issues as the board’s composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of trustees. The committee also coordinates annual self-assessments of the board and evaluates, selects and nominates independent trustee candidates to the full board of trustees. While the committee normally is able to identify from its own and other resources an ample number of qualified candidates, it will consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be sent in writing to the nominating and governance committee of the Registrant, c/o the Registrant’s Secretary, and must be accompanied by complete biographical and occupational data on the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the nominating and governance committee.

ITEM 16 - Controls and Procedures

(a) The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940) as of a date within 90 days of the filing date of this report, that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule.

(b) There were no changes in the Registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

ITEM 17 - Disclosure of Securities Lending Activities for Closed-End Management Investment Companies

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

ITEM 18 - Recovery of Erroneously Awarded Compensation

None

ITEM 19 - Exhibits

(a)(1) Code of Ethics - See Item 2

(a)(2) The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

The Growth Fund of America

By   /s/ Michael W. Stockton

Michael W. Stockton,

Executive Vice President and Principal Executive Officer

Date: October 30, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By   /s/ Michael W. Stockton

Michael W. Stockton,

Executive Vice President and Principal Executive Officer

Date: October 30, 2026

By   /s/ Hong T. Le

Hong T. Le, Treasurer and

Principal Financial Officer

Date: October 30, 2026

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