The American Funds American Mutual Fund primarily focuses its investments on the common shares of businesses poised to benefit from the expansion of the U.S. economy, especially those offering stable and dependable dividend payments. A significant portion of its portfolio consists of securities from companies headquartered in the United States and Canada. Additionally, the fund has the flexibility to allocate a portion of its assets to various debt instruments, including obligations issued by the U.S. government and its associated federal agencies.